Rotherham United has posted its latest financial results that covered the team's promotion season back to The Championship.
The results come at the same time as clubs around them suffer points deductions and other penalties for breaching financial rules, failing to pay player salaries and submitting annual accounts late.
The Millers posted a loss before tax of £1.7m for the 12 months to June 30 2022, mainly due to reduced central income for teams in League One compared to The Championship. Comparative losses were £705,928 for 2021, £1.2m in 2020 and a profit before tax of £2.74m was recorded for 2019.
Accounts filed with Companies House show that central funding was down from £7.9m whilst the club was in the Championship, to £3m in League One. TV money and "solidarity payments" from the Premier League are higher for teams in the second tier. The acounts don't show what the central funding is made up of but the Premier League has published its funding for individual EFL clubs. Rotherham United received £7,833,000 from the Premier League for the period 2019 - 2022.
Relegation meant that a turnover of £9.9m was down from £12.1m in the previous season, even though the club was unable to sell season tickets and have any fans in attendance due to the COVID-19 pandemic in the previous period.
The club launched an alternative to ticket refunds called "United Rotherham" and provided the opportunity for ticket holders to "rollover" funds for when fans could return. The club also took out an interest free loan guaranteed by the Premier League to help deal with the impact of COVID and loans from the EFL to gaurantee PAYE payments. Unsecured and interest free, these EFL loans stand at £2.2m.
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With the return of fans, match income and season ticket sales were £2.6m. The accounts also show that season ticket sales for the current season were 6,700, up from 6,200 the promotion season.
Media receipts were £95,000 compared to £691,000 the previous year, due to the reduction in TV money and less televised matches, despite the successful trip to Wembley in the Papa John's Trophy.
Other aspects of the accounts include commercial income going up to £2.9m from £2.3m, mainly due to loyal sponsors and the return of corporate hospitality at fixtures. The accounts highlight the importance of related company, ASD Lighting, which again provided £1m in sponsorship and advertising.
Chairman Tony Stewart OBE, founder of successful Rotherham firm, ASD Lighting, saved the Millers in 2008 when he brought the then League Two club out of administration via a Creditors Voluntary Agreement (CVA). Rotherham United Football Club (RUFC) Ltd is wholly owned by ASD Lightings Holdings Ltd, which is owned by the Stewart family.
During the year Rotherham United was charged £1m by RU Estates, another Stewart family company, that was created to develop the AESSEAL New York Stadium.
After the end of the financial period, the stadium hosted three group stage games and a quarter final match at the UEFA Women’s EURO. Miscellaneous income of £202,000 included funding for new floodlights for the prestigious tournament.
Rotherham United website
Images: RUFC
The results come at the same time as clubs around them suffer points deductions and other penalties for breaching financial rules, failing to pay player salaries and submitting annual accounts late.
The Millers posted a loss before tax of £1.7m for the 12 months to June 30 2022, mainly due to reduced central income for teams in League One compared to The Championship. Comparative losses were £705,928 for 2021, £1.2m in 2020 and a profit before tax of £2.74m was recorded for 2019.
Accounts filed with Companies House show that central funding was down from £7.9m whilst the club was in the Championship, to £3m in League One. TV money and "solidarity payments" from the Premier League are higher for teams in the second tier. The acounts don't show what the central funding is made up of but the Premier League has published its funding for individual EFL clubs. Rotherham United received £7,833,000 from the Premier League for the period 2019 - 2022.
Relegation meant that a turnover of £9.9m was down from £12.1m in the previous season, even though the club was unable to sell season tickets and have any fans in attendance due to the COVID-19 pandemic in the previous period.
The club launched an alternative to ticket refunds called "United Rotherham" and provided the opportunity for ticket holders to "rollover" funds for when fans could return. The club also took out an interest free loan guaranteed by the Premier League to help deal with the impact of COVID and loans from the EFL to gaurantee PAYE payments. Unsecured and interest free, these EFL loans stand at £2.2m.
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With the return of fans, match income and season ticket sales were £2.6m. The accounts also show that season ticket sales for the current season were 6,700, up from 6,200 the promotion season.
Media receipts were £95,000 compared to £691,000 the previous year, due to the reduction in TV money and less televised matches, despite the successful trip to Wembley in the Papa John's Trophy.
Other aspects of the accounts include commercial income going up to £2.9m from £2.3m, mainly due to loyal sponsors and the return of corporate hospitality at fixtures. The accounts highlight the importance of related company, ASD Lighting, which again provided £1m in sponsorship and advertising.
Chairman Tony Stewart OBE, founder of successful Rotherham firm, ASD Lighting, saved the Millers in 2008 when he brought the then League Two club out of administration via a Creditors Voluntary Agreement (CVA). Rotherham United Football Club (RUFC) Ltd is wholly owned by ASD Lightings Holdings Ltd, which is owned by the Stewart family.
During the year Rotherham United was charged £1m by RU Estates, another Stewart family company, that was created to develop the AESSEAL New York Stadium.
After the end of the financial period, the stadium hosted three group stage games and a quarter final match at the UEFA Women’s EURO. Miscellaneous income of £202,000 included funding for new floodlights for the prestigious tournament.
Rotherham United website
Images: RUFC
Never rains but it pours
ReplyDeleteThere was significant investment in a new sprinkler system
ReplyDeleteSinging in the rain, just singing in the rain
DeleteWhat a wonderful feeling....
Oh well ,at least they don't play in a dilapidated ,rusty death trap like some other local clubs have to play in 😉
ReplyDeleteWhen a stadium is the size of a postage stamp is going to be pretty easy to maintain. A decent kids party would fill NYS
DeleteSize isn’t everything, didn’t your Mrs tell you? Now run along now little piggy 🐷
DeleteOnly allowing decent kids to attend would be a bit difficult to police.
DeleteThe postage stamp comment was typically stupid of a Sheffield person and has quite rightly been greeted with owls of derision
DeleteSheffield person? Shows how limited some Rotherham folk are in the capacity to look beyond their own nose!
DeleteOops. Hope this site has not been infiltrated by piggies or Blunts.
ReplyDeleteYou know how the song goes…
ReplyDeleteOh if you’re a Rotherham Owl then you’re a ….
😂 so true
ReplyDeleteOne nil to the forest green!....Oooooh throwing it all away, throwing it all away🤣
ReplyDeleteThe rumour is that SWFC have put in bids for the burnt out shells of Rhino's, Khyber and Envy so that they can use the materials to build a new stand
DeleteSwillsborough must be the most depressing monument to an ex force in football it is possible to imagine. The really really sad thing about it is that the deluded folk who patronise the place actually believe that they are a massive sleeping giant. Dream on
ReplyDeleteWhat was your last home attendance?
ReplyDeleteWhat was your last home result and what division do you play in?
DeleteAll the businesses setting up in Rotherham but claiming they are based in Rotherham, the only thing that surprises me is the New York Stadium wasn't named the Sheffield Academy Stadium, because let's be fair all you are out is feeder club just having their moment in the sunshine.
ReplyDeleteWhen was your last moment in the sunshine? Probably before you were born given your juvenile comments
Delete*claiming they are based in Sheffield
ReplyDeleteIt's nice to visit the New York Stadium from time to time, a nice quiet Saturday afternoon with no football fans to spoil the ambience
ReplyDeleteIt's also nice to visit Swillsbro from time to time to show the kids where they will end up if they're naughty
DeleteIt’s better to support a small club that wins something, rather than a ‘massive’ club of under achievers that wins sweet f… all
ReplyDeleteNow jog on porkie !
Well I'm in my 60s and I can't actually recollect this period in history when they were big,let alone massive,those poor deluded fools ,you have to pity them really!
ReplyDeleteEarly onset of Alzheimer’s?
DeleteTrue, they put the fan in fantasists
ReplyDeleteJoining my life long avoidance of Hillsborough I will be boycotting Easter Eggs this year. They are both very poor value for money and only suitable for people with no taste.
ReplyDeleteSomeone from Booths scrap merchants rang Hillsborough last week to ask for the price of a seat. They were told that it was £45 but for £200 they could have a stand
ReplyDeleteBargain!
ReplyDeleteI passed the NYS on the train a week or so ago, it was surrounded by skips! Not a great look for the club.
ReplyDeleteNonsense. You only pass one side of the ground on the train. I pass the ground every day and can only think that you must have been passing Mr Booth's
DeleteOK smarty pants, the 'train' side of the stadium was surrounded by skips. Just making an observation that's all, not any type of football rivalry. I actually think the stadium is one of the plus points of the town(ish) centre, just get rid of the mess that's been allowed to pile up
DeleteBoothy is in the eye of the beholder
DeleteSounds like a job for Ron Hull or KDS
ReplyDelete