Sheffield Wednesday reveal latest accounts - big losses but wages drop by a massive £9m

Sheffield Wednesday have released their latest accounts, two months earlier than they did last year.

Tuesday, 3rd May 2022, 12:02 pm

After the drama of last year with late accounts and unpaid wages, the Owls appear to be on top of things this time around, but the financial effects of the pandemic were clear to see as they saw their match receipts and associated turnover for the year ending July 2021 pretty much halved as it fell to £7,894,000 from £15,123,000 – meaning that the loss for the year - before taxation - is £25,780,000, even more than the £24,084,000 that was lost in 2020.

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Another major talking point from the document released today is that wages and salaries at the club fell dramatically from £30,036,000 to £21,135,000 - falling by almost £9m following the exits of many players last summer, and that specific fee is set to fall off a cliff completely in the next round of accounts given the further exits that followed relegation into League One.

Meanwhile, the cost of the squad also took a massive drop following the exits of the previous summer, with the cost of intangible fixed assets last season being £18,696,000 compared to just £2,225,000 - once again that is an amount that will drop again following the free agent transfer windows the club has just been through.

Once again the main funding for the club was the further instalments from the sale of Hillsborough, with £15,000,000 coming in from that, but the total losses now sit at £124,397,000 - up from £98,617,000 last year.

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Sheffield Wednesday's latest accounts have been released this week.