News: Championship relegation for Rotherham United takes £10.5m off turnover
Rotherham United Football Club has released a statement over its financial results for the year ended June 2025 - the season back in League One following relegation from The Championship.
For the second consecutive year, the proactive move comes before the results are published with Companies House.
A statement from The Millers said: "Following our relegation from the Sky Bet Championship at the end of the 2023/24 campaign, the club has faced various challenges, the headline of which has undoubtedly been its turnover being reduced to £10.5m – a figure that stood at £19.2m in 2024.
"Among other aspects, this number was reflective of lower central distributions and player trading income associated with our position in the third tier.
"Despite the necessary adjustments being made to ensure a competitive first team playing budget for the 2024/25 campaign, the Club reported a loss before tax of £4.65m as we adapted to operating at League One level and the revenue streams associated with it."
The loss of £4.65m is larger than previous years. Having made a loss before tax of £1.1m in the year when the club beat the odds to stay in the second tier, in 23/24 the overall operating losses increased to £1.7m in the relegation year, despite a rise in income.
The club said it had taken measures to reduce costs and stabilise operations, with a clear focus on sustainability and responsible financial management.
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The statement added: "It has been well-documented throughout the football world that costs associated with the running of clubs continue to rise, but we remain committed to our promise that any and all decisions reached by our Chairman and Board must be made with the sustainability and long-term future of Rotherham United at the forefront.
"Our Commercial department continues to successfully support the generation of revenue and currently operates among the most proficient in Sky Bet League One, whilst also maintaining the integrity of the club’s core values through its involvement in the charitable sector and ongoing work alongside companies with principles that mirror our own.
"As we look to the future, our focus remains centred on rebuilding with purpose, striving to be better in every aspect within the club and delivering a product to supporters both on and off the pitch that they can be proud of."
Published accounts have highlighted the importance of sponsors, primarily the fellow subsidiary company, ASD Lighting PLC, who have continued to provide £1m in sponsorship.
Rothbiz reported at the start of the year that the latest accounts of ASD Lighting PLC had "included within debtors was £9,467,811 (2024: £5,204,737) due from Rotherham United Football Club (RUFC) Limited. The outstanding balance is repayable on demand."
Just last week, the Millers completed a rights issue which has converted £550,005 of existing debt into equity.
It also announced that Richard Stewart, managing director of ASD and vice chairman at Rotherham United, has seen his shareholding in the holding company, ASD Lighting Holdings Ltd, increase from 5% to 100%.
The son of ASD founder and RUFC chairman, Tony Stewart, Richard "therefore indirectly holds 97.06% of the shares in Rotherham United Football Club."
The club said that the changes were administrative in nature with Tony remaining as chairman of Rotherham United and Richard as vice chairman.
RUFC website
Images: RUFC
For the second consecutive year, the proactive move comes before the results are published with Companies House.
A statement from The Millers said: "Following our relegation from the Sky Bet Championship at the end of the 2023/24 campaign, the club has faced various challenges, the headline of which has undoubtedly been its turnover being reduced to £10.5m – a figure that stood at £19.2m in 2024.
"Among other aspects, this number was reflective of lower central distributions and player trading income associated with our position in the third tier.
"Despite the necessary adjustments being made to ensure a competitive first team playing budget for the 2024/25 campaign, the Club reported a loss before tax of £4.65m as we adapted to operating at League One level and the revenue streams associated with it."
The loss of £4.65m is larger than previous years. Having made a loss before tax of £1.1m in the year when the club beat the odds to stay in the second tier, in 23/24 the overall operating losses increased to £1.7m in the relegation year, despite a rise in income.
The club said it had taken measures to reduce costs and stabilise operations, with a clear focus on sustainability and responsible financial management.
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The statement added: "It has been well-documented throughout the football world that costs associated with the running of clubs continue to rise, but we remain committed to our promise that any and all decisions reached by our Chairman and Board must be made with the sustainability and long-term future of Rotherham United at the forefront.
"Our Commercial department continues to successfully support the generation of revenue and currently operates among the most proficient in Sky Bet League One, whilst also maintaining the integrity of the club’s core values through its involvement in the charitable sector and ongoing work alongside companies with principles that mirror our own.
"As we look to the future, our focus remains centred on rebuilding with purpose, striving to be better in every aspect within the club and delivering a product to supporters both on and off the pitch that they can be proud of."
Published accounts have highlighted the importance of sponsors, primarily the fellow subsidiary company, ASD Lighting PLC, who have continued to provide £1m in sponsorship.
Rothbiz reported at the start of the year that the latest accounts of ASD Lighting PLC had "included within debtors was £9,467,811 (2024: £5,204,737) due from Rotherham United Football Club (RUFC) Limited. The outstanding balance is repayable on demand."
Just last week, the Millers completed a rights issue which has converted £550,005 of existing debt into equity.
It also announced that Richard Stewart, managing director of ASD and vice chairman at Rotherham United, has seen his shareholding in the holding company, ASD Lighting Holdings Ltd, increase from 5% to 100%.
The son of ASD founder and RUFC chairman, Tony Stewart, Richard "therefore indirectly holds 97.06% of the shares in Rotherham United Football Club."
The club said that the changes were administrative in nature with Tony remaining as chairman of Rotherham United and Richard as vice chairman.
RUFC website
Images: RUFC
1 comments:
And with another relegation imminent and an inevitable decline in season ticket sales and matchday takings the picture is ever more gloomy. The club is rudderless and in free fall.
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