Sunderland release accounts and reveal big rise in turnover but overall loss of £5.1m

The accounts are for the year ending July 31, 2022, so cover the 2021-22 football season, which saw the club promoted back to the Championship thanks to a play-off final win over Wycombe Wanderers at Wembley.

The club accounts reveal a big rise in turnover: “Sunderland Limited had a turnover of £26.1 million during this period, which represents an increase of £15.4 million on the 2020-21 figures.”

The accounts reveal the club has no external debt and fully owns all of its assets.

The accounts can be read in full here:

Club officials say a number of factors are included in that rise in turnover including the “return of supporters following the pandemic and the return of high-profile events at the Stadium of Light, including concerts, and the club’s promotion to the Championship.”

However, despite the rise in turnover, club accounts still revealed an operating loss of £5.1m during that period.

A club statement read: “Sunderland Limited has filed its annual accounts for the year ending 31 July 2022. The figures included within the report cover the period from 01 August 2021 through to 31 July 2022.

“Sunderland Limited had a turnover of £26.1 million during this period, which represents an increase of £15.4 million on the 2020-21 figures.

“This increase was generated by several factors, including the return of supporters following the pandemic and the return of high-profile events at the Stadium of Light, including concerts, and the club’s promotion to the Championship.

“Sunderland Limited subsequently posted an operating loss of £5.1 million during this period.”

What do the Sunderland accounts say about the club ownership?

The accounts read: “On 19 February 2021, Kyril Louis-Dreyfus acquired control of SAFC. This took the form of an acquisition of an equity stake of 41% and the acquisition of full control of governance and the right to appoint control of the board and all its committees. As a result, Kyril Louis-Dreyfus drives all matters of governance, including the budget, business plan and all player and employee-related matters.

"On 21st June Kyril-Louis Dreyfus acquired 10% of Stewart Donald’s shares. Juan Sartori acquired all 5% of Charlie Methven’s shares and 5% of Stewart Donald’s shares. Kyril Louis Dreyfus now owns 51% of the shares and has a majority shareholding and control of the club whilst Juan Sartori owns 30% of the shares and Stewart Donald 19%.

"The Executive Team consists of Kyril Louis-Dreyfus (Executive Chairman), Kristjaan Speakman (Sporting Director), and Steven Davison (Chief Operating Officer).”

What was said about Sunderland’s Premier League ambitions?

The report added: “The club are excited to have been promoted to the Championship as a stepping stone to a return to the Premier League. Since Kyril acquired control significant progress has already been made in all aspects of the club’s operations, but there remain numerous further improvements to be made both on and off the field.

"The next season is a period of consolidation as the club adapts to the 2nd tier, but in doing so a proactive improvement program has been planned and is integral to the future success of the club. It remains the club’s ambition to return to the Premier League within 5 years since acquiring control.

"Following the recent promotion, the club are on track to achieve this.”

What was said about Sunderland’s finances and comparisons with season before?

The accounts added: “Financially, comparisons of the 21-22 season with 20-21 make little sense as all revenue streams and costs in the previous season were impacted by the pandemic.

"Turnover increased from £10.7m to £26.1m. and operating expenses increased from £19.7m to £29.2m. The loss after tax for the year was £4.4m. During the 21-22 financial year, the club received £10.4m from shareholders.

"The shareholders have a strong commitment to continue to support the club and its ambitions. During the period from the close of the fiscal year at July 2022 through to the date of this report, shareholders have contributed an additional £2.5m to the club. The club has no external debt and fully owns all of its assets. Player salaries for the season are 34.6% of revenue (2021: 68.42%)”

The accounts can be read in full here: