West Brom to release financial accounts in coming weeks despite 'loopholes' claim by expert
West Brom will release their accounts for the 2020/21 season before the end of the month, the club has confirmed.
On 31 May, the Baggies released the minutes from the most-recent Albion Assembly meeting and in that, it was revealed that Ron Gourlay told fans the “financial accounts will be published between now and the end of June”.
West Brom’s CEO added that “there are no issues to report” in the Black Country club’s soon-to-be released accounts.
If there are no issues to report then why have West Brom done what looks to be a deliberate move to delay publishing their accounts for the 2020/21 season?
On 31 March, the club uploaded a document to Companies House to confirm that their accounting reference period ending 31 July, 2021 “is shortened so as at to end on 30 June, 2021”.
Football finance expert Kieran Maguire suggested at the time on Twitter that while the document was “innocent looking”, it was done so that the club gained an extra three months to publish their figures for 2020/21.
Maguire, who’s a chartered accountant, added that “a cynic might say this is a deliberate ploy to avoid showing the financial results as long as possible”.
Is he right?
He’s since said more recently, on 30 May, that the Baggies are “still using loopholes to avoid publishing figures for a few more months”.
It might never be clear as to why the financial accounts were pushed back for another three months.
Maybe, for some reason, the club did need to shorten their accounting period.
Or maybe someone at The Hawthorns simply forgot to do their accounts so they had to come up with a way to ensure they had a new deadline.
It doesn’t sound right though, does it?
Maguire is a leading name in football finance and for him to be dubious of West Brom’s accounting says a lot.
Still, Gourlay says there’s nothing to worry about and we doubt he’d have said that if it wasn’t the case.
In other West Brom news, a staff member has quit the Albion to join Wolves.
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