Birmingham City have released their annual accounts via Companies House for the 2022-23 season - the financial year which ended just a fortnight before Knighthead Capital's investment and purchasing of almost half of the club from Birmingham Sports Holdings Limited (BSHL) in the middle of July. Blues made a pre-tax loss of £25.4m in what was the final year of the previous Trillion Trophy Asia era, which is a small increase on the losses made by the club in 2021-22. The year included a rise in revenue to £19.7m and their overall wage-bill was reduced to £28.9m - but still Blues are making a year-on-year loss. Hopefully, this time next year, the club will see the benefits of Knighthead's arrival in next year's accounts. The news comes as new accounts show Knighthead will have to inject £58 million into the club by early next year. These accounts represent the final chapter of the club’s old ownership structure prior to the celebrated investment in July by US backer Knighthead Capital and subsequent share deal with NFL star Tom Brady. READ: Birmingham City rivals make manager decision amid relegation battle READ: Koji Miyoshi makes Jay Stansfield admission after Birmingham City winner Other key figures in these accounts show matchday and season tickets fell from £4.1 million to £3.7 million but broadcasting income climbed from £8.3 million to £9 million. Other commercial income, such as sponsorship, corporate hospitality and merchandise, rose by £1.4 million to £6.9 million. Wages, pensions and other salary costs actually fell by £3.2 million to £28.9 million - still far exceeding the club’s annual revenue of £19.7 million, something likely to be of interest to those in charge of monitoring Financial Fair Play regulations. Looking ahead, the annual report said that forecasting had showed the club needed additional funding of around £58 million from Knighthead Capital for the period following its investment until February 2025. Blues also confirmed, via the events after the balance sheet date, that they owe a net sum of more than £2.2m in player transfers as a result of signings and sales from 1st of July 2023, including the January transfer window. That involves the arrivals of Siriki Dembele, Dion Sanderson, Ethan Laird and Lee Buchanan in the summer, as well as the winter additions of Alex Pritchard and Paik Seung-ho. During that period, Blues also sold Tahith Chong and Kevin Long. The accounts cover the 2022/23
Football season which was Blues' 12th consecutive period in English football’s second tier and in which they finished in 17th place. They're the longest-serving Championship team, remaining in the division since their relegation in 2011. Blues' average attendance was 16,756, an increase on the previous season, but ticket sales were hit as sections of the Tilton Road and Kop stands had to remain closed for running repairs.