Northampton Town have published the club's annual accounts and directors report to Companies House for the 2022/23 promotion winning season.
The club's overall turnover reduced by 2.6% in 2022/23, mainly due to a reduction in payments from the EFL however income from sources other than from the EFL increased by 3.5%. In the year ended June 30 2023, the club made a loss of £1,031,113 after player trading and this loss also included additional one-off costs associated to promotion.
The financial results include increases in expenses across the club due to costs of living and inflation which grew throughout the financial year. The losses were covered by the owners who continue to fund the club without charging interest.
In 2022/23 the club's average home attendance was 5,920, the highest average since the 2016/17 League One season and the club’s best average attendance in League Two since 2005/2006. The attendance figure was a 10% rise on the previous season and a 17% rise on the 2019/20 campaign.
Overall, the club’s average attendance has risen 25% in a decade a trend that will continue as this season's figure set to be the highest average attendance in around 60 years with a record number of season tickets sold.
Talking about the accounts, Chairman Kelvin Thomas said:
“When you file the statutory accounts, you are always showing the financial information from a previous season, but these accounts cover a period of excellent success for the club on the pitch including an automatic promotion to League One with 83 points.
“People often say that transfer money received doesn’t go back into the playing department, but these accounts show that we made an investment decision to use part of this money to help the promotion push alongside our own financial input. We are very pleased that this decision proved to be a decent one and much credit goes to Jon Brady, his staff, and the players for their achievements during this season.
“There were some other factors like reduced EFL monies and the one-off bonus costs associated to the promotion that affected the financial results, but overall, we are comfortable with the level of investment especially when matched with the success on the pitch.
“We think Saturday’s result against Derby clearly showed it isn’t always about budgets and wages anyway and sometimes it about the process in the background along with desire and effort, and, whilst not mathematically confirmed, our current points tally would indicate we will be playing League One football again next season too.
“These numbers however also highlight the tough challenges that EFL clubs face and the need for a reset of football finances. The recent introduction of the Football Governance Bill and the upcoming appointment of a Football Regulator cannot come soon enough for football.
“There are a lot of people to thank that helped with achieving this promotion including all the staff, players, commercial partners, volunteers and of course the fans as a promotion is always a team effort and something for us all to be proud of.”
