According to data filed with Companies House as of June 30, 2023, the Grecians generated a profit of £312,000 during their inaugural season back in League One.
This was a decrease from nearly £3 million in 2021 and more than £1.2 million when they were promoted in 2022.
Through transfer fees, Exeter generated a profit of less than £1.4 million in the season.
One of the few teams in the English Football League that consistently returns money is the supporter-owned club.
The average attendance, promotion, and more than £500,000 more in revenue from the English Football League after promotion helped to propel City’s revenue to almost £5.8 million for the entire season.
After being promoted to League One, salaries increased from £3.974 million to £4.9 million as players took up new, specially designed quarters at their training base.
The club also sold Alfie Pond, Matt Jay, and Tim Dieng for monies in addition to manager Matt Taylor departing to join Rotherham United for a compensation sum.
During that time, they made financial investments in winger Demetri Mitchell, defender Will Aimson, and striker James Scott.
The sales of Josh Key, Sam Nombe, and Archie Collins are not included in the calculations, nor is the £1 million plus sell-on fee from Ethan Ampadu’s transfer from Chelsea to Leeds United.
A statement accompanying the accounts noted, “We continue to increase the playing budget based on affordability within our financial model and forecasts available,” written by chair Nick Hawker.
Our strategy, via our three-year business panning process, is to fund further year-on-year improvements to the first team in a sustainable fashion, by allocating some of that increased turnover and profitability into the playing budget.
