Preston Anticipates Squad Investment After Favorable Financial Outcomes

Chairman Craig Hemmings has indicated that Preston is in a strong financial position, which could enable the club to invest in its playing squad as early as January. On Monday, Deepdale PNE Holdings Limited, the parent company of the club, released its annual financial results for the year ending 30 June. Key figures from these results show a record turnover of £16.9m, an increase from £15.6m, marking the third consecutive year of record revenue. The club also reported a loss after tax of £9.9m, which represents a £2.3m improvement compared to the previous year. Furthermore, the club experienced enhanced trading performance across all its revenue sources, including season cards, matchday ticket sales, and all commercial and replica kit sales. The average home attendance for the 2023-24 season reached a new peak of 16,714, signifying the highest average attendance at Deepdale in six decades. Notably, on Boxing Day 2023, the club recorded its largest league crowd at Deepdale since the mid-1970s, with 21,816 spectators attending a home victory against Leeds United. During June, the club’s ownership converted £50m in outstanding debt and loans into equity, a move that bolstered the club’s balance sheet. Speaking to the Lilywhites website, chairman Hemmings stated: “While ultimately the performance on the pitch is paramount to the club’s ambitions, success off the pitch has a direct effect on the opportunities we will have to improve the playing squad. “To see the club achieve its highest ever revenue is very encouraging. This improved financial performance helps to create the much-needed headroom to further invest in the club’s facilities and squad.” He further commented: “Historically we had a great deal of success buying and selling players prior to the Covid pandemic and it remains our goal to repeat this philosophy as and when opportunities arise.”