The club admit the results are disappointing after their losses almost doubled – despite a promise they would improve
Hibs have posted a staggering loss of £7.2million in their annual accounts for the year ending June 2024 – a worrying spike of £3.3m from last year.
The club say the results are 'disappointing, and that poor recruitment in particular has led to a 'significant overspend.' Most worryingly to fans, it comes after departed CEO Ben Kensell promised this time last year, after posting a £3.9m pre-tax loss, that the accounts would be 'much, much better' this time around.
"The current climate is very challenging for football clubs of a similar size to Hibs, and clubs are often reliant on shareholders or benefactors while trying to increase competitiveness. The club has done everything to maximise other revenue streams, and will continue to maximise these revenue streams, but ultimately is reliant on the steadfast support of the shareholders who continue to underwrite losses.
Scottish Premiership David Gray Lee Johnson Nick Montgomery
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