Sunderland have released their accounts for the 2022/23 season.
Sunderland’s accounts for the 2022/23 certainly make for some interesting reading.
The club has reported an operating loss of £9million for last season, up from £5.1million during the 2021/22 season in which they clinched promotion from League One.
The Black Cats upon their return to the Championship made little over £35.5million in turnover last season, largely due to the increased revenue from the Football League’s TV rights.
But the club’s wage bill increased by almost £10million to more than £25million, which largely explains why the club reported an operating loss of £9million.
It’s caps what has been a wholly disappointing 2023/24 season in the Championship with Mike Dodds‘ side currently sitting in 15th place of the table.
Michael Graham defends Kyril Louis-Dreyfus despite Sunderland losses
Sunderland co-owner Kyril Louis-Dreyfus has now recorded a total operating loss of £14.1million for his first two seasons at the Stadium of Light.
To put that number into some context, Ipswich Town’s operating loss for last season, in which they were promoted from League One, was £18.2million, and Hull City for example posted a loss of £21million last season.
Only Sheffield Wednesday, Rotherham United, Middlesbrough, Coventry City, and Plymouth Argyle posted lower operational losses than Sunderland for last season.
And journalist Michael Graham has jumped to the defence of Louis-Dreyfus after the announcement of the club’s losses, with Louis-Dreyfus often accused of being overly-stringent at Sunderland.
Sunderland are epitomising one thing right now
Going into the summer, Sunderland have a number of player assets they could cash in on, with Jack Clarke likely to be sold, and for big money as well.
That, combined with the club’s ongoing focus on signing players young and cheap and developing them, as well as proof that the club’s operational losses are somewhat low for a Championship team, shows the sustainability that Sunderland have under Louis-Dreyfus.
Whilst this season may have been a setback, the club is going about their rebuild towards the Premier League in the right manner.
The Black Cats have spent big money in previous years and it ultimately landed them in League One, during a four-year stretch in the third tier.
Louis-Dreyfus though seems to have taken on board the Sunderland woes of the past and is now going about the future in a much more efficient and patient way.
Fans must maintain patience with the process, but at the same time, Louis-Dreyfus needs to do a lot of things right in the summer months to keep the fans on his side, i.e. finding the right manager and the right players to bring in.