Wycombe Finances 2021 – Record Profits

This article analyses Wycombe finances in respect of the 2020/21 season.

Season review

Wycombe Wanderers reached the heady heights of the EFL Championship in 2020/21, having been in EFL League Two as recently as 2018. The club fought valiantly against relegation despite being one of the pre-season favourites, ultimately being unsuccessful in this battle, finishing 22^nd. The club also reached the fourth round of the FA Cup, a welcome distraction from its relegation battle.

From a financial perspective, Wycombe’s accounts are not very detailed which unfortunately limits the amount of analysis that can be performed. 

From the limited information available, it appears it was a was a lucrative season for the club. Promotion to the EFL Championship helped the club achieve its highest ever profit,  £3.2m.

Wycombe Finances – Transfers

Wycombe rely on loans and free transfers and despite promotion continued in this vein. No transfer fees were recorded by Transfermrket.com but Daryl Horgan, Jason McCarthy, Uche Ikpeazu and Jordan Obita all joined and may have commanded transfer fees. Wycombe’s accounts suggest the club spent £208k on transfers.

Amortisation

Prior to the 2020/21 season, the club had no amortisation charges. This rose to £66k in 2021 following the signings as mentioned above. This is unlikely to change significantly in 2022.

Profit on player sales

Wycombe benefitted in its 2021 finances from the sale of Uche Ikpeazu for a reported £783k. While this occurred ahead of the 2021/22 season, it fell into Wycombe’s 2020/21 financial year (to 31 July 2021). This would have contributed significantly to its record profits.

No other such sales have occurred since which will leave a financial hole in the club’s 2022 finances.

Wycombe Finances – Transfers summary

Wycombe do not rely significantly on transfer sales nor is the club a spender in the market. As such, sales like Uche Ikpeazu are bonuses rather than a must. The club will be hoping he is successful at Middlesbrough, as his transfer agreement may contain further bonuses which could prove lucrative.

Wycombe Finances – Profitability

Wycombe recorded its highest ever profit in 2021, achieving a £3.2m profit following promotion and the sale of Ikpeazu.

This compares with a £1.7m loss in 2020. Overall, the club has made a £1.5m cumulative profit in the past six years. 

Wycombe Finances – Profitability summary

Wycombe’s era under new ownership has started well, with the club’s finances appearing relatively healthy. A profitable 2021 given the circumstances is a great achievement, however relegation is likely to make consecutive profits challenging. Premier Solidarity payments in the Championship are significantly higher (c.£4m) than in League One.

Wycombe Finances – Assets / Liabilities

There is limited information to definitively take a view on the balance sheet of Wycombe and the level of net debt.

Wycombe’s cash position did however improve from an already healthy £2.3m to £3.6m. This appears to have been driven by its profitable season, with no signs of any capital injections.

The club did see an increase in ‘other creditors’ of c.£0.4m to £3.6m, which may relate to funding from its owner. If all this balance relates to owner debt, the club still has minimal net debt, with its debt standing a similar level to its cash reserves.

interesting the club incurred capital expenditure of £1m following a partnership with Landways for a digital transformation project at the club’s stadium, Adams Park.

Wycombe Finances – Final Remarks

Unfortunately, Wycombe’s accounts provide little information to give a proper analysis of its finances. However, it was clearly a financially successful season for the club, even if it wasn’t on the pitch. A return to the EFL Championship is likely key to a return to profitability with this being a challenge while in EFL League One.

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