Blackpool FC’s financial losses amount to £4.8million in the promotion’s winning season affected by Covid

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Fan gallery of Blackpool’s emphatic win over Reading at Bloomfield Ro…

The club’s latest financial results cover the club’s promotion-winning campaign from Ligue 1 in the 2020/21 season.

The vast majority of the campaign was played behind closed doors due to the pandemic, which inevitably had a major impact on the club’s ticket sales.

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Turnover, however, remained fairly stable at £5.4m, down very slightly from the previous year’s £5.5m.

“During the year the effects of Covid-19 have impacted club operations,” said Blackpool.

“Fans were unable to attend matches, which resulted in a significant reduction in gate receipts.

“However, match streaming has seen a significant increase, which has helped to bridge the gap of any lost revenue.

Blackpool’s accounts have been released for the period that covers their League One promotion

“Throughout the pandemic, steps have been taken to ensure that club budgets and forecasts reflect up-to-date government guidance and mitigate related losses.”

Accounts show gate receipts fell from £1.1million to just £73,000 from the previous year, due to the absence of supporters.

The club were able to stage two games in front of a limited audience for the games against Swindon Town and Oxford United, for the second leg of their play-off semi-final.

At Wembley, meanwhile, 4,000 Seasiders were able to make the trip to witness Blackpool’s promotion to the Championship.

The club still recouped £771,000 from season ticket sales, with a large number of supporters opting out of seeking refunds to help the club. This figure stood at £1 million for the previous year.

Predictably, bar and food sales fell to just £2,000 from £328,000, but merchandise fell from £383,000 to £561,000.

One of the main benefits of the club was the revenue generated from game streaming, as fans were able to watch all of their games through the iFollow platform. This has gone from £45,000 to £579,000.

The main objective of club managers going forward is to maintain the club’s championship status, the report adds.

To achieve this, the strategy is to; identify good players; develop young people through the academy and; commercially develop the club to maximize sources of income.

The annual report also shows wages and salaries for all club staff, including players and the coaching staff, have risen from £6m to £6.8m.

The total number of employees, meanwhile, fell from 154 to 107.

Amounts due to related parties, defined as a person exercising control, joint control or significant influence over the business, increased from £3.5 million to £9 million.

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