Leicester City has reported its most successful period in its 134-year history after publishing its financial results for the year ending 31 May, 2017.
The earning potential afforded by the Club’s first appearance in the UEFA Champions League helped form record pre-tax profits of £92.5m (2016: £16.4m).
Turnover for the year increased to £233m (£128.7 in 2016), owing largely to the Club’s outstanding performance in progressing to the UEFA Champions League Quarter-Finals, further than any other English club that season. The addition of European competition to the fixture schedule also boosted ticket revenue by 42 per cent, despite a third consecutive year of frozen Season Ticket prices.
The 2016/17 campaign was also the first of the Premier League’s improved three-season domestic and international broadcast contracts to 2018/19.
Greater investment in the playing squad in the shape of transfer fees and improved contracts contributed to a 59 per cent increase in operating costs to £65.5m (2016: £41.3m). The Club invested £102m in player registrations, which was partly funded by a £38m profit on player trading.
Leicester City Chief Executive Susan Whelan said: “Securing a legacy for the Club’s recent achievements is among our greatest responsibilities, as it will be the platform from which Leicester City can grow and achieve further, sustainable success in the future. It is central to King Power’s vision for the Club and the determination of the Srivaddhanaprabha family to reward our fans for their immeasurable and unconditional support.
“Fundamental to that legacy is the commercial consolidation of the opportunities success has afforded the Club. This allows us to make further long-term investments in outstanding players and key personnel; infrastructure to strengthen our operations and services; and world-class facilities such as our proposed new training facility in Charnwood – all of which will aid the Club’s continued growth for generations to come.
“As with the on-pitch achievements of which these financial results are a consequence, we remain realistic about the immediate likelihood of them being repeated, but are determined to make sure their impact strengthens our aspirations and belief in the future for Leicester City Football Club and our consistent growth and success on and off the pitch.”