AFC post million pound profit after impressive player sales

20/11/2023

ABERDEEN FC has delivered a net profit of more than £1million pounds thanks to a number of multimillion pound player sales.

The Dons increased their operating loss by more than £1million pounds to £6.27m in the year ending June 30, with a lack or European football and a 10th placed finish in the 2021/22 season contributing to this.

Subscribe to our daily newsletter

Why? Free to subscribe, no paywall, daily business news digest.

But selling the likes of Lewis Ferguson, Calvin Ramsey and Ross McCrorie offset that.

“To compete at the highest levels in Scottish football, and to qualify for Europe each season, we continue to invest more in player wages and transfer fees,” said chairman Dave Cormack.

He added: “This has led to annual operating losses which, over time, have to be balanced by positive player trading and increased commercial and football performance-related income.”

“I’m pleased to report that we are making progress on balancing the significant additional investment in football wages and transfer fees, which leads to these operating losses, against positive income as a result of successful player trading.

“The Club’s board and investors are committed to this strategy which has required a significant expansion of recruitment resources to unearth and invest in emerging talent such as Bojan Miovski, Duk and Leighton Clarkson. 

“This acquisition of emerging young players combined with continued, substantial investment in our youth academy to develop young, homegrown talent, gives our Club the best opportunity of success.”

Signs pointing to a positive future

Aberdeen’s average attendance last season was 15,636, up almost 20% from the 13,103 average in the previous season.

The campaign guaranteed European group stage football would return to Pittodrie, with financial gains from that to be reflected in next years books, alongside the club reaching a cup final.

The club also boasts a record number of season ticket holders, 12,250, for the 2023/24 campaign.

Cormack added: “Crucially for the medium to long-term, season ticket sales among under 18s have risen from 17% to 26% of total season ticket sales over the last three seasons. 

“This has largely been driven by our highly successful free AberDNA Junior initiative, to nurture the next generation of fans, and the success of the Red Shed.

“This steady, off-the-pitch financial performance, combined with progress in our football performance, most notably playing in the group stages of European club competition for the first time in 15 seasons, and getting to our first cup final in five years, puts the Club on a good footing.

“Our strong senior management team, now led by Alan Burrows who was appointed as chief executive in February this year, are driving the key projects which will propel the Club even further forward.”

The Dons continue to increase investment into the women’s side, who, this season, have their first full-time head coach.

The latest stories