Accounts show largest ever loss in Wigan Athletic's history

Latics are still coming to terms with the carnage left by previous owners Phoenix 2021 Limited, which very nearly caused the club to go out of business last summer.

It's only thanks to local billionaire Mike Danson that the club survived, and this season has been the first step of a massive rebuild under Shaun Maloney and Gregor Rioch.

The duo have done incredibly well to steer Latics towards a top-half finish, despite an eight-point deduction imposed following issues related to the former ownership, and a transfer embargo.

And they will have to continue to cut their cloth accordingly, in light of the jaw-dropping figures for the financial year ending June 30, 2023.

Statements show a significant financial loss of £13.4million, with an underlying loss before write-off of owner loans of £17.5million.

There were £2million costs incurred in termination costs for two player management teams and executives - following the sackings of Leam Richardson and Kolo Toure - much of which was payable in the following financial year and is being paid by Danson.

Balanced against turnover of £15.9million, staff costs were £23.2million, representing an operating loss of £13.7million.There was a profit on player sales of £0.4m, leading to a net loss before tax of £13.4million.

"Our staff, players, loyal supporters and wider stakeholders have endured a turbulent few years and I firstly want to thank everyone for their resilience during such a difficult time," said Goodburn, the club's chairman and interim chief executive.

"The 2022/23 season was disappointing on and off the pitch, with relegation from the Championship, a number of points deductions, non-payment of staff and player wages under a previous ownership, and the underlying loss of £17.5million is the largest published loss in the history of the football club.

"During this period, HMRC also issued a winding up order, and the football club sought significant financial help.

"Mike Danson purchased the club in June 2023 and cleared all amounts owed for wages and to HMRC.

"We are ambitious for Wigan Athletic, but first we must be realistic about the challenges we face as we continue to work to bring stability to the football club.

"Lessons must be learnt from the past if we want to be sustainable for the future. In the short term, significant owner funding will still be required to help ensure the debt inherited is manageable.

"The football club has for too long relied on significant owner funding to achieve short-term footballing success. This approach has resulted in catastrophic consequences for the football club on two occasions.

"There are many factors that have contributed to the financial loss for the year reported. The level of player wages paid was clearly unsustainable and caused significant financial distress – some of which we are still trying to manage.

"Ensuring that the club is sustainable is not just about reducing costs, we need to grow both matchday and non-matchday revenues.

"The Heatable Academy is a key pillar in ensuring the long-term sustainability of the football club. We have seen this season the valuable contribution of Academy graduates to the first-team squad with 42 per cent of all minutes coming from Academy players, which is the highest percentage across all four divisions.

"Following the removal of the transfer embargo ahead of the summer window, player trading will provide us with greater scope to identify, recruit and nurture young footballing talent and increase the value of the playing squad.

"The club continues to be overseen by myself as chairman and interim CEO, along with the legal board, which is underpinned by a technical board and an experienced senior management team.”

Goodburn also provided an update on the club’s new ticketing system, which has had teething difficulties after being brought in mid-season to replace the previous one, which had caused multiple problems in the past.

"Wigan Athletic and Wigan Warriors staff continue to work together with our new ticket provider to ensure both clubs transition quickly to our new ticketing system, which will shortly be complete,” Goodburn added.

"I would like to echo the ticket office’s apologies to fans who have been frustrated during the interim period, but we remain confident the full Ticketmaster Sport platform will be the first step to ensuring a smoother customer experience for everyone.

"Once the full Ticketmaster system is live, and after implementing feedback from supporters, we will then be in a position to launch our new Future Fund scheme which will continue to help us fund the next generation of Latics stars. Season Tickets for the 2024/25 season will also soon be available to purchase once the new ticketing platform is live.”

Goodburn also made mention of the recent introduction of the club’s first official women’s team, along with a call to arms to support Maloney and his side for the last month of the campaign.

"The launch of the club's first official Wigan Athletic Women’s team has been warmly received,” he said. “Enhancing football opportunities for women and girls in the town is a key priority of ours, and we have made great progress over recent weeks in building the foundations for a successful team to take the field next season.

"Finally, I know you will continue to support Shaun Maloney and our players as we aim to finish the season in the strongest possible position. Thank you for your continued support."