Lincoln City announce a £2.9 million loss for the 2024/25 as they reveal their annual accounts.
The loss for the financial year was marginally lower than the previous year where the figure was exactly £3million.
Last season the Imps marked their sixth successive campaign in SkyBet League One with another top-half finish, placing 11th and 17 points off the play-off places.
In the cup tournaments they reached the third round of the FA Cup before being knocked out to Birmingham City and disappointingly lost in the first round of the Carabao Cup to League Two side Harrogate Town.
Overall turnover significantly increased last season, going up by about 22% and surpassing £8million for the first time.
Matchday revenue showed a significant rise, however this was largely due to the decision to bring bar and catering operations in-house from the start of the season, matchday revenue only marginally increased due to higher season ticket sales.
Long term creditors increased further to £2.6 million, attributable to the receipt of further capital grants for the Stacey West Community Hub project. Actual long-term debt which relates to bonds issued to fans for capital projects amounted to £537k at year-end with a further £79k included in current liabilities.
In the transfer market:
Player trading profits impressively exceeded £0.5million, mostly thanks to the guaranteed fee and a contingent appearance fee from Millwall from the sale of goalkeeper Lukas Jensen in July 2024.
Further sales only helped this, with Dylan Duffy going to Chesterfield, 14-year-old academy player Jaxon Tomak leaving to join Nottingham Forest and the club earning an appearance fee from Huddersfield Town from the sale of Lasse Sorensen.
Costs arising from the mutual cancellation of Jaden Brown’s contract and a contingent appearance fee due to Tottenham Hotspur on the ending of TJ Eyoma’s contract with the club were netted off for last years accounts.
Fees for the signings of Rob Street, JJ McKiernan, George Wickens, Dom Jefferies and Erik Ring as well as some minor contingents for players signed previously meant the cost of additional player and management registrations during the financial year amounted to £0.55 million.
A fresh start around the corner for Lincoln City?
Lincoln City have also confirmed today that Liquid Investments, Inc. is seeking to become the controlling shareholder at the LNER Stadium, with Ron Fowler assuming the position of chairman.
This would mean current chairman Clive Nates’ time would come to an end after eight years in the role as a proposal made by Ron Fowler was approved at a board meeting on 11 December, for Liquid Investments, Inc. to increase its shareholding in Lincoln City Holdings above 25%.
However, Clive would still have an integral role at the club – joining Jay Wright as co-vice chairman, whilst Ron will assume the role of chairman of both Lincoln City Holdings and the football club.
A full and detailed update from Ron and Clive can be expected to come within the next two weeks once the club can provide it.