£349,000 loss recorded in first year of Macclesfield FC
Macclesfield FC have submitted their first year of financial reports, and shared results with fans.
Our town's new football club, which was established in October 2020, recorded a loss at the end of the first year of trading.
They reported a loss of £349,000 up to October 31 2021.
However, Silkmen fans should not be concerned, as some may recall from claims in April 2022's Making Macclesfield FC documentary, where Owner Rob Smethurst revealed all facets of the business are now making profits.
Total investment relating solely to stadium renovations stood at £2.9m during the period leading up to the end of October 2021.
There were no external borrowings at the club. All staff were paid in full, with no furlough during the Omicron COVID-19 wave of winter 2021-22.
Macclesfield FC employs 62 people across the team, gym, bar and matchday staff.
"The Club is enjoying a seemingly exponential rise in numbers across the board, both in terms of support for our First Team and all other elements of the business," said the club in a statement.
"Initial attendances at the Leasing.com Stadium were limited due to the ongoing renovation work, yet these steadily increased throughout the 2021/22 campaign to the extent where the season's average was a remarkable 3,388.
"It is also critical to note that the significant ground investment and Covid-19 provision which were mitigating factors during the previous financial year should not have a comparable impact during the new period."
The club also revealed that season ticket sales this year is already well over 1000, beating last season's figure, as the club prepares for live in Northern Premier League Division One West next season. They also revealed membership of the Club's Academy has doubled to about 600.
Macclesfield FC Owner and Director Rob Smethurst had the following to say.
"I can understand why some supporters may react to the news that the Club is reporting a £349k loss with alarm – however, there were many factors for this which will not be present going forward," he said.
"We had to get what represented a dilapidated Stadium fit for purpose and not only that, this had to be concluded within the Covid-19 pandemic.
"The Club also launched our Academy structure during the period and like all other areas of the business, this continues to go from strength to strength.
"As I have stated previously, the Club is now in the position where we are broadly self-sustainable at the end of each month – but we can't do this alone.
"We need our wonderfully loyal supporters to back us off the pitch just as much as they do on it.
"Whether this is through Season Tickets, Memberships, the Academy, Stealth Gymnasium, or Bar Twenty Seven – I appeal to everyone who has taken this Club into their hearts to help us in any way they can, as we look to move closer to where we all want to be."
Macclesfield: You can relive the moment the Silkmen's promotion was confirmed by clicking here.
See Also: Macclesfield's generosity praised following £12,000 fundraising cancer charity footie match
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