Kieran Maguire explains why West Brom have extended accounting year until July 31
West Brom have extended their 2020 accounting year so that it ends on July 31, as detailed on Companies House.
The extension covers the entirety of the Championship campaign last season, and that includes the costs in covering the contracts of Gareth Barry, Chris Brunt, and Jonathan Bond – they all stayed on for that extra month.
Also, the update means there could be a delay in publishing the accounts, per accountancy expert Kieran Maguire.
Big update looming
The accounts of 2020 will make for interesting reading as the national lockdown brought huge change to West Brom and the season overall.
Fans were prevented from attending the last few games of the season and that means cash flow and income likely took a big hit.
We may all understand why the club have had to be frugal in transfer spending when the accounts finally do come out.
Despite that, being in the Premier League will have helped finances significantly and even if we do go down we will have parachute payments to draw upon.
Getting players like Kieran Gibbs off the wage bill will also prove valuable, as it will add a lot of room in the budget to bring in new players.
Also, Guochuan Lai is keen to sell the club and if the accounts make for good reading that could entice a buyer.
There are a number of things to look out for, therefore, and we are keen to cast an eye over the details once they finally come out.
In other West Brom news, Joseph Masi shares that Albion have big hopes for one exciting youngster.
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