Swansea City reports pre-tax loss of £17.9m for 2023

Swansea City has reported a pre-tax loss of £17.9m for the year ending July 2023, marking an increase from the £12.5m loss the club posted the previous year. Despite this financial setback, the Championship club saw a rise in turnover to £21.5m, with player trading generating a profit of £4.5m.

In a statement, Swansea chairman Andy Coleman acknowledged the challenges faced by the club in the 2023-24 season, emphasizing the need to improve both on and off the pitch. The club remains in compliance with EFL profit and sustainability rules, but discussions with the Premier League on a new revenue sharing agreement have hit a standstill.

The Swansea City Supporters’ Trust expressed concerns over the headline loss but highlighted the club’s efforts to achieve long-term financial sustainability. The Trust’s investment in the club has surpassed £20m since last summer, with a focus on equity rather than loans to minimize debt.

While the financial results may be disappointing, Swansea City is determined to navigate the competitive landscape of the Championship and work towards a brighter future. The club is committed to collaborating with other EFL and Premier League clubs to secure a new revenue sharing agreement that benefits all parties involved.

As Swansea City continues to strive for success on and off the field, fans can expect ongoing efforts to improve the club’s financial standing and ensure a sustainable future for the beloved team.