Hibernian chief executive Dan Barnett has warned that the club's current level of financial loss is not sustainable. The Scottish Premiership side reported a pre-tax loss of £3.9m for the year ending June 2024, according to Sky Sports. This figure followed a loss of £1.1m in the previous financial year. Barnett, who recently succeeded Ben Kensell in the role, outlined plans to reorganise the club to ensure future stability.
The accounts showed that turnover increased by 15 percent to £14.3m, but staff costs also rose to £12.1m. This represents a wages-to-turnover ratio of 85 percent, per STV News. Barnett noted that the club relied on financial support from the Gordon family and investment from the Black Knight Football Group. He emphasised that the first team, currently coached by David Gray, remains the priority for investment. Hibernian sit 10th in the Scottish Premiership table as of March 28. The chief executive stated that the club must balance competitive ambitions with a more disciplined financial approach.
