Ayr United reports record-breaking turnover; the best-looking “spike” in the numbers
The Scottish Championship team disclosed that they had made a significant profit thanks to upgrades they had made to the Somerset Hub and more attendance from spectators. The club recorded a profit of little under £20,000 for the year that ended in June 2023, and that was before taking into consideration the transfer of star striker Dipo Akinyemi to York City, which is among the highest fees the club has ever been paid.
The financial sheet demonstrates a “significant turnaround” over the course of the four years, with £68,000 in profit as opposed to a £1.4 million deficit in 2019.
Their study shows that Ayr United had its largest turnover in club history while continuing to make remarkable progress both on and off the pitch.
“After making recent improvements in the Somerset Hub and increasing attendance, the club’s turnover skyrocketed to over £2 million for the first time in its existence.
“With the sale of Dipo Akinyemi to York City, which represents one of the highest transfer payments the club has ever received and will be represented in the next fiscal year, the club ended the year with a profit of slightly under £20,000.
According to this report, the balance sheet, which was negative £1.4 million in 2019, is now positive £68,000. This is a significant change in balance sheet worth of about £1.5 million in just four years.
“The results have been hailed as ‘remarkable’ given the recent investments including a growth in employees, new facility investments and the new North Stand development.”
“When I first came into the club, we proposed a long-term vision for how we would build the club to achieve the potential that we felt was always there,” Ayr chairman David Smith stated. These findings show that we are very close to reaching that potential.
It is impossible to overestimate the role that the supporters have had in these outcomes, as evidenced by the notable rise in sales from the club store, Somerset Hub, and the crucial matchday attendance.
“The board has been able to implement many of the changes we are making because of this expansion, such as the creation of the new North Stand, which will be a significant strategic milestone and something I am personally extremely excited to see take shape.
“Like any complicated building job these days, there have been some challenges, none less than the recent harsh weather. The programme was supposed to end on June 24. Despite certain obstacles, we are now mostly on track.
“These very encouraging results demonstrate that the club is not just progressing upwards, but accelerating faster than anticipated,” said Managing Director Graeme Mathie.
“The feedback from the fans demonstrates to us as a board that the fans fully support the journey we are on, and we would not be able to succeed without their commitment and involvement.
In addition, we have been able to generate new revenue streams—possibly most notably from the Somerset Hub—as well as better foundations for our future growth through an increase in hospitality and advertising.
“With the recent increase in non-playing staff, we have taken significant steps forward in professionalising our entire operation, which is evident in both the number of young players coming through from the academy and in our ability to attract players looking to join on a permanent or loanee basis.” “The stability of the club has never been stronger.”
