Deepdale PNE Holdings Limited, the parent company of Preston North End Football Club, made a loss after tax, of £16.8m for the year 2021/22 (prior year loss of £15.4m).
The annual loss was an increase on the prior year due to a number of factors, including the club having the residual payments to an ex-manager, compensation paid to Plymouth Argyle FC for Ryan Lowe and residual payments to a number of players at the end of their contracts.
Turnover for the year was £13.8m, up £1.9m on the prior year (up 16%).
During the financial year the owners invested a further £14.9m into PNE, to cover the annual cash shortfall in running the club.
The club sold 7,557 season tickets, the first full year of crowds back in stadiums following the COVID-19 restrictions, and the average attendance for the season was 12,501.
The c£13.8m of turnover is made up of: £3m (matchday tickets and season ticket sales), £8m (Premier League and EFL distributions) and £2.8m (commercial and stadium income). Up from £11.9m in 2020/21.
Chairman, Craig Hemmings said “The season 2021/22 was a difficult one for a number of reasons. It was the first full season back with crowds into Deepdale following all of the COVID-19 restrictions, and, as was felt across the whole of the football pyramid, we experienced the nervousness of some fans returning to stadiums. In the first half of the season we changed managers, as results on the pitch were just not good enough. And most significantly, it was the season we lost our owner, my father, Trevor Hemmings CVO. We all at the club hope to further his legacy”.
He continued: “Football results in the second half of the season were much improved under new manager Ryan Lowe, with us ending the season a commendable 13th in the league. This achievement, though below our initial expectations for the season, is best understood in the context of us having to compete with teams with significantly higher wage bills, a number of whom receive tens of millions in parachute payments from the Premier League”.
Director, Peter Ridsdale added: “Since the year end, some good progress has been made by the club in reducing the annual cash deficit to the owners. With the aid of incredible fan engagement and support, we had one of the best ever season ticket campaigns, with close to 12,000 season tickets being sold to fans of PNE. The most sold for over 60 years. Also, the summer transfer window facilitated a major playing squad overhaul. 16 players exited the Club, and 6 new players were brought in to fill key positions in the squad”.