Turnover of £158.9M (£233M in 2017) was only the second time the Club has posted an income over £150M and compared favourably with the £128.7M of 2016 and the £104.4M of 2015. Gate receipts of £12.9M also compared favourably with previous seasons – up 11 per cent by comparison with 2016 and 2015, despite the continued freeze of Season Ticket prices.
In the wake of the Club’s successful run in the lucrative UEFA Champions League 12 months previously, profits for 2017/18 were predictably significantly reduced. The Club recorded a pre-tax profit of £1.6M for the year ending 31 May 2018, compared with a record £92.5M in for the year ending May 2017.
Increased operating playing costs and continued investment in player registrations reflect the Club’s commitment to equip its squad and football operation to be a consistent, long-term competitor in the Premier League, aspiring to re-enter UEFA competition in the future. That ambition is matched by the Club’s on-going investment in the development of a state-of-the-art new training facility in north Leicestershire and its proposed expansion of King Power Stadium.
Sitting securely among the King Power Group of Companies, the Club’s future course continues to be safely navigated by the Srivaddhanaprabha family, whose successful and responsible ownership of Leicester City will begin its 10th season in August 2019.
Leicester City Chief Executive Susan Whelan said: “The accounts of the previous two years have reflected unique seasons in Leicester City’s history, where our intention to invest in our future have been supported by considerable competition revenue.
“The accounts of 2017/18 demonstrate our continued commitment to ensuring revenues generated are reinvested into building a squad and infrastructure capable of competing at such levels on a more consistent basis.
“At a time when our biggest investment projects are visibly beginning to take shape, Leicester City supporters can feel excited about what the future holds for their Club and confident in the King Power Group’s vision to take them there.”
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