Greg Cordell
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gregorypcordell.bsky.social
Greg Cordell
@gregorypcordell.bsky.social
Army veteran; AT thru-hiker; CFA charterholder; LFC fan; football finance analysis here and on Substack (no paywall; link below).

https://gregcordell.substack.com/
My full review of Liverpool's 2023/24 financial results is live on Substack (link below; no paywall).

open.substack.com/pub/gregcord...
Liverpool FC: 2023/24 Financial Results
P&L, Investment, Cash Flow, Debt, and Outlook
open.substack.com
March 24, 2025 at 6:01 PM
Revised LFC P&L estimates for 2023/24 are attached after disclosure of revenue and wage data in the DFML report (note: rev segments adjusted for projected LFC categorization):
- Rev of £614m (per DFML; +£20m);
- Est adj EBITDA of ~ £85m (~ flat YOY)
- Est pre-tax loss of ~ £46m (~ £37m worse YOY).
January 23, 2025 at 2:50 PM
This thread provides a few figures w/ 'Big 6' club comparisons now that AFC, CFC, LFC, and THFC data is available. For total revenue, Arsenal jumped from 6th to 3rd among the cohort as revenue increased YOY by ~ 33%. Excluding AFC, the other five in aggregate saw rev decrease by ~ 1% YOY.
January 23, 2025 at 2:42 PM
Following the release of the DFML report, attached is a summary snapshot for PL clubs:
- 6 clubs in top 10, 9 in top 20, and 14 in top 30 (no rev segmentation or wage for #21-30)
- AFC the big mover (rev up £152m)
- NUFC rev broke through £300m
- Extremes on wage/rev: AVFC at 96% & THFC at 42%
January 23, 2025 at 2:31 PM
My full review of West Ham's 2023/24 financial results is available on Substack (link below; free access).

open.substack.com/pub/gregcord...
West Ham United: 2023/24 Financial Results
Overview of P&L, Investment, Cash Flow, and Debt
open.substack.com
January 2, 2025 at 2:18 AM
My full review of Manchester City's 2023/24 financial results is available on Substack (link below; free access).

open.substack.com/pub/gregcord...
Manchester City FC: 2023/24 Financial Results
Overview of P&L, Investment, Cash Flow, and Debt
open.substack.com
December 16, 2024 at 4:45 AM
After today’s PL fixture update (through MD26), 68% of live TV fixtures for 2024/25 have been allocated. 'Big 6' (18-19 each), Villa (17), and NUFC (16) selected most often.

From a financial perspective, each appearance was worth £839k and each club received flat £978k in 2022/23 (latest data).
December 9, 2024 at 11:36 PM