High-flying Brighton Posts Record Profit And Extends Ceo
Brighton & Hove Albion has revealed a profit of £122.8m after tax for the 2022/23 season, setting a new record for an English football club.
The figure eclipses the £113m profit made by Tottenham Hotspur in 2017/18, and is up by £24.1m on 2021/22.
In the Premier League outfit’s newly published financial report for 2022/23, Brighton collected record overall revenue of £204.5m, up 17.2% on the previous year.
A key driver in the Seagulls’ growth was the team’s sixth-placed finish in 2022/23 Premier League table, which was the highest in their history and saw the club qualify for this season’s UEFA Europa League. The club also reached the semi-final of last year’s FA Cup competition.
Broadcasting revenue surged by £29m to reach £155.2m according to Brighton’s annual financial report, while commercial revenue rose from £15.4m up to £17.9m. Match-day revenue also increased from £20.6m to £24.6m.
Brighton additionally made a £121.4m profit on player transfers, which included the sales of Alexis Mac Allister, Yves Bissouma and Marc Cucurella to Liverpool, Tottenham and Chelsea respectively. However, this does not include Moises Caicedo’s transfer to Chelsea last summer for £115m.
As Brighton’s revenue reaches new heights, the club has extended Paul Barber as the CEO until 2030.
During his 12-year tenure at the Amex Stadium, the 56-year-old has overseen Brighton’s promotion to the Premier League in 2017, and qualification for European football for the first time last season.
Prior to joining the club, Barber previously served as CEO of MLS outfit the Vancouver Whitecaps, and has also held executive positions at Tottenham Hotspur and the FA.
Barber said, “I’ve loved every minute of my 12 seasons at Brighton and, whilst there have been many memorable moments, the achievement of European qualification has to be amongst the biggest of my career working in professional football.
“The challenge now is to continue that incredible progress and growth of the club, with our clear ambition to be regularly challenging the bigger and more established Premier League clubs and to be competing for the European places.
“This is already another historic season for Brighton & Hove Albion, but we feel there’s more we can achieve – both now and in the future – so this is not only a very special time for our fans but a very special time for all of us to be a part of this football club.”
Stay up to date with the world of sports business by subscribing to the Sport Industry Daily.
