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Mar 2023

Last Updated: 24/03/2023

Business

Harrogate Town post £1.2 million loss

by John Plummer

| 23 Mar, 2023

The Envirovent Stadium, Wetherby Road.

Harrogate Town posted a £1.2 million loss in their second season in the English Football League.

Newly-published accounts for the year ending June 30, 2022 also reveal the club's dependency on chairman Irving Weaver, who owns 75% of the club's share capital, increased.

The club owed Mr Weaver £4.4 million, compared with £3.7 million the previous year.

This year's figures follow a £1 million loss the previous year.

The accounts say:

"The company will have sufficient funds, through funding from its controlling shareholder R I Weaver, to meet its liabilities as they fall due.

"Those forecasts are dependent on R I Weaver not seeking repayment of the amounts currently owed to him.

"R I Weaver has indicated his intention to continue to make available such funds as are needed by the company, and he does not intend to seek repayment of the amounts due for the period covered by the forecasts."

The accounts also show the number of staff increased from 35 to 55 in what was the club's first season in the EFL with fans allowed back in the ground after covid.

The Wetherby Road club's land and buildings are valued at £4.3 million as opposed to £3.91 million a year earlier.

Town's fortunes on the pitch have improved lately, with an upturn in results easing them away from the relegation zone.

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The club said in a statement:

“We have spent the last 18 months investing in the club for the long-term future including the re-structuring and strengthening of the team, developing the stadium and facilities to a standard fit for the EFL and to give our supporters a better match day experience, plus, the launch of our academy.

"We have exciting plans for the future with the growth of our player development centres, our Women and girls teams as well as many more initiatives to benefit supporters as we continue to grow as a club. We would take this opportunity to thank all our stakeholders for their continued support”

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Harrogate Town post £1.2 million loss

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