Wolves make £14.3m loss for 2023/24 financial year

After making a £67.2million loss the previous year and a £46.1million loss the year before that, Wolves have now made a net loss for three consecutive years with the latest accounts going up until May 31, 2024.

That is despite the club selling a host of star players in the summer of 2023 to adhere to the Premier League's profit and sustainability rules.

A number of players, including Ruben Neves, Conor Coady, Nathan Collins, Raul Jimenez and Matheus Nunes, all left the club as Wolves generated a player trading profit of £64.6million, up from £43.9million the year before.

Players such as Collins and Nunes did not record huge profits, however, due to their book value at the club at the time they were sold and the fee they were sold for.

This was also offset by the book value of players reducing in that year and the club's signings, which included Jean-Ricner Bellegarde, Santiago Bueno, Boubacar Traore, Tawanda Chirewa, Enso Gonzalez and Matt Doherty, which totalled £67.2million, down from £82.4million in 2023.

New contracts for other players also counted towards the total, as the club recorded a net player trading loss of £2.6million, down from £38.6million the previous year.

The profit and sustainability rules mean clubs cannot make a loss of more than £105million over a three-year rolling period.

The total figures mean Wolves have made a £127.6million loss in this period, but they did not breach the rules because the Premier League allows clubs to spend on a select number of things that are deemed to be in the general interest of the club and football as a whole.

Referred to as 'add-backs', these include investment in infrastructure, charitable and community endeavours, women's football and the academy.

The financial accounts also showed revenue increased by just over £9million to £177.7million, largely due to an increase in televised games and a strong FA Cup run.

Operating costs were also slightly decreased but that was offset by the departure of Julen Lopetegui and his staff in August 2023, as Gary O'Neil took over.