St. Johnstone: A closer look into McDiarmid Park Club’s finances
During that dazzling time, when Saints won three trophies, they also achieved multiple top-six finishes and qualified for Europe. Additionally, the club’s financial records paint a picture of a business that doesn’t take achievement for granted. Supporters are particularly interested in St Johnstone’s financial situation, just like they are with every other football team that The Courier covers.
Our analytics, football, and business teams collaborated to create this piece, which tracks three important financial success metrics. According to the most recent financial statements for the fiscal year that concluded on May 31, 2024, the club was back in the black. At the conclusion of the 2023–2024 season, Geoff Brown sold his controlling ownership of the McDiarmid Park team to Adam Webb, a US lawyer. Additionally, the year’s accounts highlight St. Johnstone’s financial stability.
“We hand over a club to Adam Webb that carries in excellent health with strong cash reserves and ready to face a 16th consecutive season in the SPFL,” the strategy report states. However, the situation was drastically different a year prior. When he took over as CEO in May 2023, Stan Harris, who had been brought in to handle the finances before to Webb’s takeover, claimed he was “shocked” by the financial turmoil at the Perth company.
He told The Courier in January of this year: “We had been kind of overspending, so it was a bit problematic.” “I was taken aback. As a club, we had always been present or close by. We would benefit by £100,000, lose £100,000, etc. It was consistently around zero. “To return and discover that you have an operating loss of £2.1 million [and a post-tax loss of £1.5 million]… I was truly taken aback. However, in a stunning comeback, Harris assisted Saints in generating a six-figure profit of £110,245 after taxes.
In the meantime, there were previously unheard-of challenges in May 2020 and 2021. The latter was characterised as “one of the most challenging years faced by the club” in its more than 100-year history in the chairman’s report. Covid-19 limitations were largely to blame for this. On the pitch, however, the Saints overcame that, winning the League Cup and the Scottish Cup. The European football and player sales were “largely” responsible for the ensuing £1.1 million profit in 2021–2022.
The Saints had their greatest post-tax result since 2015. The Gleneagles Ryder Cup Park and Ride in 2014 and the transfer of Stevie May to Sheffield Wednesday were the main reasons for the McDiarmid Park team’s £854,514 profit at that point. Turnover demonstrates the amount of money that the football team is bringing in. This covers things like gate receipts, corporate hospitality, sponsorships, and advertising.
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