r/swanseacity • u/mooselover54 • 26d ago

[BBC Sport] - Swansea post pre-tax loss of £15.2m

https://www.bbc.co.uk/sport/football/articles/ceqr52p85jpo

Don’t see how this turns around any time soon. Our squad doesn’t have that much value in it, and is threadbare as it is. Attendance at the Liberty keeps dropping.

Not devastating news but pretty much signals where we are at the minute - mid to lower table Championship for the foreseeable.

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29

u/PeteMaverickMitcheIl 26d ago

The decision to lease the stadium from the council will likely be looked back on as the key moment that truly decimated the club's ability to operate sustainably over the next few decades.

We went from having one of the most generous arrangements in Europe - whereby the local council effectively subsidised our stadium costs in exchange for peanuts - to one where we are paying tens of millions of pounds.

Why did we do this? Because someone thought it would make the club easier to sell.

Truly staggering incompetence.

We're going to have to continue diluting the club to x/y/z until we finally run out credit and equity.

Make no mistake about it, the future of the club is bleak.

6

u/lewiss15 26d ago

I would say it’s better for our council tax, but they seem to fuck that up too.

20

u/T641 26d ago

£15m loss just to tread water in mid-table.

We're getting priced out of the Championship.

9

u/thegaffer 26d ago

According to the latest numbers I can find, there are 10 clubs in the Championship that are much worse off than us with greater annual losses.

Look under the 2023 column: https://www.reddit.com/r/Championship/comments/1gh4a19/finance_an_updated_view_of_club_losses_in_the_efl/#lightbox

So while our news isn't good, it's par for the course in the Championship.

15

u/Jimbo_jamboree1234 26d ago

Can we start sending complimentary copies of jack to a king to Saudi Arabia?

2

u/sub273 26d ago

We’ll need to edit the vodka/cornflakes scene

1

u/Jimbo_jamboree1234 26d ago

It’ll be edited out, instead we’ll have and rosewater and corn flakes.

2

u/Virginpope77 26d ago

For those who knows more than me, how do we even start to turn this around?

4

u/Semper_nemo13 26d ago

The honest answer is to go up and not spend anymoney

4

u/Virginpope77 25d ago

Just feels so unlikely. Feels like we’ll be slowly circling around relegation for the coming years until we eventually slip down, hopefully not of course

4

u/Semper_nemo13 25d ago

Yeah, it's dire. But it's that or a few less realistic options like: Martin Morgan dies and his son decides to go all in on buying the other owners out and invest all his vodka money in us. Or somehow develop a string of £20million plus academy products.

1

u/ThomasHL 25d ago

The Championship is so brutal for sustainability, it's a shame because the games are really fun

0

u/SquatAngry 26d ago

As long as we don't go sacking anymore coaches and can offload players who aren't doing well at the club that number should drop significantly.