Walsall to build on 'positive foundations' after fresh club accounts published

Ahead of the club's shareholders meeting next month, Boycott issued a lengthy statement outlining the financial position of the club and how it has returned to profitability following a loss of over £740,000 in 2022, after previously recording profits for 16 consecutive years.

In his statement, Boycott revealed that Walsall have increased revenue by almost 20 per cent from the previous year's accounts with a turnover of £7.615 million, whilst also highlighting the "crucial exercise to acquire the Poundland Bescot Stadium freehold from its previous owner".

He said: "Away from the pitch, this was an extremely eventful year which saw, most notably, the club return to profitability, and crucially exercise its option to acquire the Poundland Bescot Stadium freehold from its previous owner.

"This represents a landmark event in the club's history as it once again is the owner of its own freehold for the first time in over 30 years and as a consequence is the master of its own destiny.

"This increase was driven in particular by higher revenues in ticketing, commercial, retail, and a substantial increase in revenues from our conference and events business, which is slowly but surely rebuilding after being decimated by the Covid-19 pandemic.

"This return to profitability was also accomplished whilst funding a much higher technical & playing budget than in the previous season and was assisted by the elimination of the significant rental payment obligations on the stadium.

"Overall, this report should be viewed as a positive reflection what is both a financial and technical foundational year to build on going forward. I’d like to thank my fellow directors, as well as the entire technical and front office staff of Walsall Football Club for their tireless efforts to make these positive results possible."

Walsall limped to a 16th place finish in League Two last season having collected just two wins from their final 23 games.

Whilst Boycott acknowledged that the 2022-23 season was a "disappointing outcome" - he is now looking to build on a positive summer transfer window, and to keep taking the club forward on the pitch.

"In a foundation-building year, the first team finished in the same position as the prior season in the League 2 table - 16th," he continued.

"This was certainly a disappointing outcome, given where we stood at Christmas. However, we are very hopeful to continue to build on what I view as a very positive summer transfer window, and continue to systematically build the Club on the pitch going forward.

"This mid-table finish in the League was offset somewhat by a very positive run in the FA Cup, culminating in a home clash against Premier League side Leicester City."