Brighton announce record profits: What's in the formula?
With Profit and Sustainability rules being at the forefront of times in the Premier League, it is always helpful when a club can be in the green, rather than the red. This is often a rarity, with the trials and tribulations of England’s topflight being a lot to comprehend, despite this, Brighton announced record profits from the 2022-23 financial year.
Brighton have recorded a profit of £122.8m, whilst Aston Villa, Chelsea, Newcastle United, Wolves and relegated Leicester City all recorded heavy losses. Everton and Nottingham Forest can also be included within this group, having fallen foul to the newly implemented PSR rules, with both being deducted points this year.
On this evidence, it is clearly very hard to turn a profit at this level, so just how did Brighton manage it?
The first point has to be the team’s performance on the pitch. The Seagull’s finished sixth last year, their highest finish in history, and reached an FA Cup semi-final. Not only does this bring in its own prize money, an increase of over £25m from the previous year, but it also puts the club’s players on a bigger stage. Better stage, more visibility for the club to have its top performers in the shop window.
Before the deadline of June 30, 2023, Yves Bissouma was sold the Tottenham Hotspur for £30m, Marc Cucurella to Chelsea for £60m, Leandro Trossard to Arsenal for £21m and Alexis Mac Allister to Liverpool £35m. All these fees helped make a profit of £121.4m, in just transfers. The club also received a compensation fee of £23m when Chelsea poached Graham Potter before Roberto De Zerbi was brought to the south coast.
The Seagulls also have a head start going forward, selling two players in Moises Caicedo and Robert Sanchez, for more than £140m, to unsurprisingly, Chelsea.
Brighton’s current financial position is a clear advocate for smart recruitment, using on-field success wisely and of course, a pinch of luck. The club’s Chief Executive Paul Barber shares the same view.
"These accounts will of course catch the eye because of the headline number," Barber said.
"In a season when we made history on the pitch, we took a huge step forward in terms of the club's long-held aim of becoming more sustainable.”
Barber also noted that the level of profit has allowed Brighton to make a significant repayment to the team’s owner Tony Bloom.
"As ever we are hugely grateful to Tony Bloom for his clear vision, his world class ownership of our club, and his ongoing financial support," added Barber (via BBC Sport).
"Similarly, we are extremely fortunate to have a top quality board, who provide us with great stability and guidance; and top level staff in all areas of the club."
As it stands, Brighton seemingly has a formula that could lead them to being a self-sustainable topflight club, so what next for the Seagulls?
It seems unlikely they would blow the budget, even if that means that the highly sought after De Zerbi seeks pastures new. Even if they should lose the Italian, this has been a long journey of good decisions for the Seagulls, and one that seems likely to continue.
