In its financial accounts published on Companies House, League Two club Tranmere Rovers reveals widening financial losses and chairman Mark Palios offers a takeover update. Tony McDonough reports
Tranmere Rovers chairman and joint owner Mark Palios says investment in the playing squad is a key reason the club is reporting widening financial losses.
He also insists that he is confident that a takeover of the EFL League Two club will be completed in time for the start of the 2025/26 football season. It is believed a consortium involving US rapper A$AP Rocky, real name Rakin Myers, aims to buy Rovers.
In accounts just filed on Companies House, Tranmere Rovers reveals revenues for the 12 month to June 30, 2024, of just under £6m. This is an improvement on the £5.45m generated in the previous year with revenues from hospitality and retail both seeing rises in sales. Season ticket sales were also up slightly to 3,549.
Around 200 people are employed by the club with a further 180 non-contracted staff employed in various roles on match days.
However Mr Palios, joint owner along with his wife Nicola Palios, revealed that necessary investment into the playing squad had led to a widening of pre-tax losses to just under £1.5m from £1.37m in the previous years.
Rovers’ cash operating loss was £700,000 with the squad budget increasing in the 12-month period by £500,000. However, this season has still been a struggle on the pitch.
After a poor run of results put the club at risk of relegation, first team manager Nigel Adkins left the club by mutual consent in late February 2025. Andy Crosby is now interim manager and results have improved in recent weeks.
Writing in the annual report, Mr Palios said: “The resilience of the club is strong, as can be seen by the financial results achieved despite the headwinds of the unstable economic environment in which we continue to operate.
“The continued material year-on-year increases in player wages provides a challenging environment. As we have seen, even increasing our playing budget to the highest we’ve ever had it in season 24/25 does not guarantee on-field success.”
It was also revealed in the accounts that in November 2024, Mark and Nicola Palios took on the club’s long-standing loan from Allied Irish Bank. This freed up the asset of Prenton Park to be used as security for a fresh loan facility with AIG Securities.
In April 2024 the Palios’s granted a period of exclusivity to a consortium of investors believed to include A$AP Rocky, partner of superstar singer Rihanna. In February this year Mark Palios issued an update on Rovers’ website.
He said: “Despite rumours from various people on social media who claim to be ‘in the know’, the proposed take-over of the club continues to progress. These things are immensely complicated because a lot of different parties are involved, hence the delays.”
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He said the director had been working on a ‘plan B’ and ‘Plan C’ should the takeover not proceed. In the latest accounts, he said: “Directors anticipate a sale will be completed ahead of the 24/25 season.”
The Palios’s are also transferring one of their two ‘golden shares’ in the club to the Tranmere Rovers Official Supporters Club. Holding of a golden share offers a veto over a stadium move, name, shirt colour and crest.