Massive financial losses for Dundalk FC revealed as new owners step in

The full 2023 losses of Dundalk FC have been revealed as the club scrambles to recover financially with new owners.

A recent report report found that the club had accumulated a staggering €1.2 million financial loss in 2023.

According to the report from the Irish Sun, the Lilywhites had an operating loss of €1,196,410 for last year, more than double the recorded loss of €497,649 from the year ending December 31, 2022.

It represents the second biggest deficit in the club’s history after a loss of €1,226,067 under PEAK6’s ownership in 2019.

Sponsorship dropped by over 50 per cent in 2023, with income dropping from €861,407 in 2022 to €394,665 last year. Advertising also took a hit, dropping from €39,301 in 2022 to €26,528 in 2023.

While season ticket sales jumped by 34.1 per cent from €247,735 in 2022 to €332,304 last year, domestic gate receipts fell from €281,007 to €166,880.

But the fall in turnover meant an operating loss of €1,196,410. The cash in bank also fell from €424,844 as of year-end 2022 to just €71,462 as of December 31, 2023.

Dundalk finished fifth in the 2023 Premier Division under the ownership of Seán O’Connor, Alan Clarke and Andy Connolly prior to the club’s sale to Ainscough last year.

This week it was announced that Louth barrister John Temple will head a group of investors who have agreed to underwrite’ the players current wages until the end of the season, and said they will examine the viability of the club.