Argyle's revenue following their Championship return soares close to £30m

PLYMOUTH Argyle's revenue for their return to the Championship in the 2023/24 season soared to a record-breaking £26.68 million.

- CHRIS ERRINGTON

That was an increase of more than £11m compared to the previous campaign when the Pilgrims won the League One title under former boss Steven Schumacher with 101 points. Despite this, Argyle have reported a loss of £2.4m in their Annual report and Financial Statements for the year ended June 30, 2024.

Over £1m of that was due to the amortisation of players, some of whom signed in previous seasons. The remaining loss was attributed to the increased operating costs of competing in the Championship, which the club believes emphasises the need for continued revenue growth and diversification.

Argyle's revenue when they were promoted from League Two in the Covid-shortened 2019/20 season was £6.97m. That fell to £5.67m in 2020/21 when games were played behind closed doors due to the continuing pandemic.

Revenue approximately doubled to £11.77m in 2021/22 when fans were allowed back to Home Park and that increased to £15.03m the following season.

Argyle had home sell-outs for all 23 of their Championship matches at the Theatre of Greens last term, with an average attendance of 16,507, as their revenue hit £26.68m.

The Pilgrims' owner and chairman Simon Hallett told a Plymouth Argyle Cornish Supporters' Association fans' forum last week that turnover was set to rise to £29m in 2024/25, with 'at least somewhere between £14m-£15m' being spent on player wages.