West Bromwich Albion Football Club has submitted to Companies House its annual report and financial statements for the 12-month period ended 30 June 2023, which reflects the 2022/23 EFL Championship season.
The club recorded a loss of £11m (2022: £5.4m profit) for the period ended 30 June 2023.
Turnover decreased from £65.4m for the period ended 30 June 2022 to £56.7m, owing to a reduction in Premier League distributions and sponsorship income.
The fees paid for the purchase of player registrations during this period is £11.4m (2022: £12.6m), while the sale of player registrations returned £9.8m (2022: £17.8m).
Staff costs increased from £42.4m to £45.9m, with the increase predominantly driven by additional new first-team players and the replacement of the head coach and related coaching staff.
Events after the reporting date
In November 2023, West Bromwich Albion Group Limited extended the loan facility from MSD Holdings UK Limited by £8m. The extension of the loan has not impacted the repayment period or interest terms of the loan facility. The loan was utilised to support the ongoing funding of the football club’s general business operations.
On 28 February 2024 Bilkul Football WBA, LLC – a company ultimately owned by Shilen Patel and Dr Kiran C. Patel – acquired an 87.8% shareholding in West Bromwich Albion Group Limited.
In March 2024, an outstanding loan of £4.95m, owed during the accounting period by Wisdom Smart Corporation Limited, was repaid in full, including interest, by the club’s parent company, Bilkul Football WBA.
As part of the acquisition, the 2014 loan between West Bromwich Albion Football Club and West Bromwich Albion Holdings Limited novated to Bilkul Football WBA. This loan remains subject to an ongoing King’s Counsel investigation.