Swansea City have reported a pre-tax loss of £17.9million in the club’s latest accounts.
The figure is for the the year ending July 31, 2023 and is up from the £13million recorded last year.
Turnover has increased by £1.8million from the previous year to £21.5million. Player trading produced a profit of £4.5million but does not include the significant sale of Joel Piroe to Leeds United last summer in a deal believed to have been around the £12million mark.
Over the past year the club’s ownership group have ploughed in extra money; earlier this month the US owners invested a further £3million into the club’s coffers just four weeks after another £2million was put in. It took the group’s investment beyond £20million since last summer.
Chairman Andy Coleman said the club are working diligently to turn around the footballing and financial performance of Swansea City.
He said: “I am committed to the twin goals of building a financially sound and sustainable business model and putting a team on the pitch that can compete for promotion.
“These accounts represent the financial year prior to my appointment as chairman and much of the budget had already been set for the 2023-24 financial year before my arrival in Swansea in August 2023.
