Exeter City FC have published their accounts for the year ending June 30, 2024.
The year under review saw another successful season both on and off the pitch. We achieved our primary objective of retaining EFL League One status, in addition we have seen a number of staff changes and a strengthening of the executive leadership team. The on-field performance built on the previous season, whilst our strategic focus off-field remained on financial sustainability, fan engagement, and the development of a strong Academy-led future pipeline of talent.
Joe Gorman, Chief Executive Officer said: “The financial results for 2024 show our continued commitment to running sustainably in a league that is undoubtably getting more competitive. With playing budgets ever increasing, our model of providing opportunities for players to develop both from the Academy and player investments from outside our Academy is becoming more important than ever; this provides us with the funding to compete and invest in the long-term future of the club.
"I’d like to thank all the staff for their continued commitment to the club during a year that showed increased revenue growth in all areas of the club (up 12% from prior year). Acknowledging our Operational Loss has increased this year is really important, however I can assure supporters that managing this remains our priority and focuses our minds on the importance of our player development model. As always, we will release our annual supporters’ report over the coming months to give our supporters a transparent view of every area of our finances.
"Gary Caldwell and the football staff again achieved success on the field. It should be noted that the club has the second lowest playing budget in the league, therefore their buy-in to our model and ability to work within it is testament to their talent and skill in developing players.
"I’m really proud to lead a club that thinks long term in a world that is increasingly focused on the short term,”
Nick Hawker, Club and Exeter City Supporters' Trust Chair has provided the following message:
“In an increasingly challenging environment, it is rewarding to see the great strides the club continues to make both on and off the pitch. There is no doubt that running a football club is a complicated and challenging business and it has been pleasing to see the strengthening of the executive team, something which gives us the best chance possible of continuing the good progress that we are making.
"Thank you once again to our supporters – our owners. As with any football team, supporters are critical to success, even more so at Exeter City. And as our owners, you demonstrate time and again that you take this role very seriously. We aim to reciprocate that by engaging our supporters on key decisions involving the club, such as the vote in May 2024 as to whether the club should purchase the OTR building at St James Park.
"To every person who supports our club, our welcoming ambassadors, our matchday hosts, tireless volunteers and enthusiastic litter pickers – thank you. To all of the fundraisers, the Grecian Groups who contribute so willingly when asked – thank you. At every corner of our club there are people giving their time. You are all part of what makes our club so very special and enriches our football community.
"As ever, my sincere thanks to both Boards, who are volunteers themselves, and to the entire ECFC family – all of the non-playing staff, the Academy, the Exeter City Community Trust, and of course, the first team players and support staff of both the men’s and women’s teams.
"We own our football club and we should be very proud of the shared commitment, passion, and dedication which continues to drive Exeter City forward, ensuring that we remain a club built on strong values and community spirit.”
Click here to read the accounts.