Wolves have released headline financial information for the year ending 31st May 2018, a period which reflects the 2017/18 season and promotion from the Sky Bet Championship to the Premier League.
This was the second season under the ownership of Fosun International and saw the appointment of Nuno Espirito Santo and his coaching staff, who helped guide the team to the Championship title.
This period included the signing of Player of the Season Ruben Neves, the permanent signings of Ryan Bennett, John Ruddy and Barry Douglas amongst others, and the loan signings of Diogo Jota, Willy Boly and Leo Bonatini.
After an excellent start to the campaign, Espirito Santo’s side remained top of the league from October through to May, and won the Championship with 99 points, nine points clear of their nearest rival.
Turnover for the year was £26.4m (£23.8m in 2017), with the uplift mainly driven by an increase in attendances. Season ticket holders increased significantly from 13,757 to 21,233, whilst average league attendances increased to 28,298, compared to 21,572 in the previous season, resulting in an increase of £1.3m in ticketing income.
There was further growth in revenue through an increase of £0.6m in merchandising revenues, £0.4m in sponsorship and advertising and £0.4m in corporate hospitality revenues.
Overall, the club made a pre-tax loss of £57.16m, compared to a loss of £23.18m the previous year. This can be attributed largely to increased expenditure on players, wages, additional amounts payable on promotion as part of existing transfer fees and individual staff and player promotion bonuses.
In summary, Wolves’ owners are committed to continuously improving the club, from both a footballing and wider operational and strategic perspective.
Their aim, through the continued application of the footballing philosophy which has been so successful during the 2017/18 season and first half of the 2018/19 season, is for the club is to become an established competitor in the Premier League.
The full accounts can be accessed by clicking here.