West Brom: Finance Expert reacts to BBC update on losses at The Hawthorns
Dan Plumley has insisted that a reduction in parachute payments will have played a big factor in the latest losses recorded by West Brom.
The Baggies reported a loss of £11million in their 2022-23 accounts, with the BBC predicting that it could be even higher next time around.
The football finance expert agreed that could be the case, albeit promotion to the Premier League this season changes that picture significantly moving forward.
“Parachute payments will be the overriding cause,” he exclusively told West Brom News.
“Once they drop off, you would expect revenue to dip significantly and you have still got a fairly hefty wage bill at West Brom.
“You have got players who will be on decent wages and the wage bill has been a problem throughout all of this, so it is kind of driving towards that being one of the biggest factors.
“There will be a little bit of the takeover stuff in there as well, of course, depending on how the company structure looks in the future and the holding company and football club in that regard.
“It’s a prediction that I would suggest will ring true. Obviously, potential promotion changes that picture significantly moving forward, but I think it’s likely you will see a potential worst set of statements, as the BBC predicted, in the next iteration and that will depend on how the club then progress forward in the next couple of years.
“A big chunk of that will be parachute payments and that shows the importance that clubs place on getting promoted back to the Premier League while you’re still in receipt of those payments because once they go away, it leaves a shortfall.”
West Brom set for more losses?
Shilen Patel has a lot of mess to clean up at The Hawthorns, with these latest accounts the last full season under the stewardship of Guochuan Lai.
The new West Brom owner has already shown his face frequently at games and has won over fans with his presence, with work now needing to be done off the pitch as well.
In other West Brom news, Boiler Man has been axed as his mystery disappearance is finally explained on social media.
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