Wigan Athletic post losses of £7.7million

Wigan Athletic made a net loss of £7.7 million in the financial year ending May 31, 2018, compared to a net profit of £4.3 million in 2017.
Jonathan Jackson at the DW on SaturdayJonathan Jackson at the DW on Saturday
Jonathan Jackson at the DW on Saturday

The figures cover the season 2017-18 when Latics were promoted as champions of League One and reached the quarter final of the FA Cup.

Turnover decreased by £18.4 million to £6.7 million primarily due to the fact this was the first season without Premier League parachute payments.

Hide Ad
Hide Ad

EFL central payments and match related revenues also decreased as a result of the club competing in League One.

Profit on the sale of players also reduced to £1 million compared to £4.6 million in the previous season.

Total expenses including salary costs and amortisation of player contracts decreased by £9.4m to £15.9 million.

Total salary costs were again the most significant expenditure.

Hide Ad
Hide Ad

However, these costs decreased to £11.7 million compared to £16.6 million in the previous year.

Net liabilities increased from £11.7 million to £19.4 million as at 31 May 2018.

“The 2017/18 season was the first year since relegation from the Premier League in which the club had to operate without parachute payments,” said chief executive Jonathan Jackson.

“The loss was anticipated, but these results highlight the investment required to achieve success outside the Premier League.”

Hide Ad
Hide Ad

“On the pitch, the season was memorable in many ways and provided immense enjoyment and pride to supporters and the people of the town.

“For the second consecutive time competing in League One, we were promoted as champions.

“It was a fitting way to mark the final full season under the ownership of the Whelan family.

“On 7 November 2018, International Entertainment Corporation purchased the majority shareholding in Wigan Athletic.

“The club is under new ownership for the first time since 1995 and this marks the start of an exciting new era for Wigan Athletic.”