West Brom accounts confirm big losses alongside significant owner investment

The accounts, dated from July 2023 to the end of June 2024, were signed by Companies House at the end of December and are set to be published within the coming weeks.

They are the club's first figures without receipt of top flight money either directly or via parachute payments since 2002 - and also the first involving the ownership of Shilen Patel and his group Bilkul Football WBA.

The figures also revealed a decrease in the club's turnover during that period by half compared to the previous set of accounts dated for the year to June 2023.

Owner Shilen Patel - who on Friday marks the first anniversary of his takeover - has injected £25.3m capital into the club to cover running costs across the 12 months since his purchase. That does not include repayment of the Wisdom Smart loan, plus interest, of a little over £5m.

The steep loss of £33.9m was projected by club chiefs and paints a picture of the club Patel, his father Dr Kiran and the Bilkul group inherited when they saved the club from the Guochuan Lai regime 12 months ago.

It is understood Patel bought Albion with his eyes wide open and was fully aware of the state of play in relation to the club accounts.

Bilkul have full confidence in the path the club is on when it comes to recovering the financial landscape post-Lai and are committed to providing running costs.

It is also understood there is no concern about Albion's compliance with financial fair play regulations and specifically the profit and sustainability rules which state clubs can only lose £39m across a three-year cycle.

The ownership's cash input has been to keep Albion functioning and competitive since the takeover. The Baggies' improving forecasts have also been highlighted in acquisitions of Mikey Johnston, among others, last summer and the more recent captures of Isaac Price and Tammer Bany for fees in the winter window.

A loss of £33.9m follows a loss of £11m in the previous set of accounts.

The losses are not related to profit and sustainability rules in its entirety. For example Bilkul ploughed in the best part of £1m improving training ground pitches last summer. Academy and women's team expenditure are also not included within that section of financial fair play.

Turnover was cut by more than half from £56.7m to £28.2m in the accounting period chiefly owing to a lack of parachute payment following relegation from the Premier League. The figures are in line with a second tier club's finances without the aid of the top flight cash pot.

The accounts also confirm a slight decrease in staff costs, down from £45.9m to £42.9m. These were mostly driven by senior player departures including former captain Jake Livermore, Kean Bryan, Tom Rogic, David Button and the sale of Taylor Gardner-Hickman to Bristol City.

The accounts do not include more recent player movement from Albion. It is in the next set of accounts, dated to June 2025, which will include the exits of earners such as Matt Phillips, Nathaniel Chalobah and Erik Pieters among others.

Next year's figures will also include the sales of Conor Townsend, Brandon Thomas-Asante, Okay Yokuslu and more recently Alex Palmer, as well as income from sell-on fees for Dara O'Shea and the compensation banked from former head coach Carlos Corberan's exit to Valencia.