Wigan Athletic report annual loss of £9.2million

Wigan Athletic have reported a net loss of £9.2million for the 13-month period ended 30 June, 2019 - an increase on the net loss of £7.7million reported in the previous year.
Wigan Athletic chief executive Jonathan JacksonWigan Athletic chief executive Jonathan Jackson
Wigan Athletic chief executive Jonathan Jackson

The figures cover the 2018-19 season, when Latics finished in 18th position in the Championship after promotion from League One.

Latics made a profit of £7million on the sale of players during the period, primarily due to the transfers of Dan Burn and Will Grigg to Brighton and Sunderland respectively.

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This allowed the club to re-invest £7.1million in new players during the period.

“The financial loss of £9.2 million includes the significant profit on player sales during the period," acknowledged Latics chief executive Jonathan Jackson.

"This highlights the resources that are required to consolidate our position in the EFL Championship, which is a volatile and competitive environment due to the aspirations of clubs to achieve promotion to the Premier League and the rewards that that success delivers.

“The board of directors remain committed to success, driven by sustainable growth to enable the club to compete in the highest levels of English football, while adhering to Championship profit and sustainability regulations.

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"This can be achieved by embedding an effective player trading model within the club to ensure the long-term future of the club is protected.”

Turnover increased by £4.9million to £11.5million, due to increased Premier League solidarity payments and EFL central distributions.

Match-related revenues also increased by £0.3million compared to the previous season.

Salaries were the most significant cost at £19.4million, which was an increase of 66 per cent on the previous year when the club competed in League One.

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Amortisation of player transfer fees was £3.2million, and total other costs were £5.1 million.

During the period, International Entertainment Corporation purchased a majority shareholding in the club, and these financial statements are the first under new ownership.