Struggling Sheffield United Football Club reveal bigger pre-tax losses after being promoted to Premier League

The Blades finished the 2022/23 season second in the Championship, securing promotion to the Premier League. They also reached the semi finals of the FA Cup, earning a trip to Wembley.

Recently filed accounts for parent company Blades Leisure Ltd show a pre-tax loss of £31.5m was recorded in the year ending 30 June 2023, up from £16.2m in 2021/22.

Turnover reduced slightly to £64.3m from £66.9m the previous year. This was primarily down to lower broadcast revenues of £43m - down from £51m - following the reduction of parachute payments in the club's second season back in the EFL.

The FA Cup return provided £4m of additional revenue, helping to offset the reduced broadcast income.

The club achieved off-field revenues of £22m, up from £16m, exceeding its previous record in the English Football League..

A number of  high-profile events were held at  Bramall Lane during the year, with four fixtures as part of the UEFA 2022 Women's Tournament at Bramall Lane, including the England Lionesses' sell-out semi-final victory over Sweden.

A new DoubleTree by Hilton Sheffield City hotel is set to open at Bramall Lane later this year.

A profit on disposal of player registrations of £4m was recorded in the year, down from £11m in 2022, comprising contingent amounts following the sale of Aaron Ramsdale to Arsenal in August 2021 and the sale of development players from the SUFC academy. 

Wages and salaries increased to £42.9m from £37.1m the prior year.

A directions' report accompanying the accounts said: "The club's long-term goal is to be a sustainable club, successful both on and off the pitch.

"This will be achieved by embracing a business model that focuses on investment in our playing squad, development of our elite academy players, cultivating our global brand, by driving and diversifying revenue streams and by identifying and nurturing talent across all areas of the business."

Sheffield United are currently bottom of the Premier League after 28 games of the 2023/24 season.