Burnley published their 2025-26 accounts on 4 November, showing a reduced loss after a £77.7m payment from Velocity Capital and a £38.8m compensation payout from Everton. The accounts also said events including the Everton appeal could continue to cast significant doubt on the club as a going concern.
Key figures in the accounts
The accounts revealed that £77.7m of the £80.1m owed to Burnley by Velocity Capital has now been paid to the club, with the payment funded by investment from the ownership group. Burnley reported a loss for 2025-26 of £9m, after losses of £24m to £29m in each of the previous three seasons.
The club also reported all-time high revenues of £144.5m for the campaign. Burnley's debt now stands at £62.9m, having more than halved since 2024-25.
Everton payout and appeal
Burnley have been paid £38.8m by Everton because of Everton's profit and sustainability breach in 2021-22, which was found to have impacted Burnley's chances of avoiding relegation that season. The payout is subject to an appeal, which is expected to be heard in January.
In the accounts, Burnley's board stated that "no provision should be included" for the appeal. The board also stated that the result could "range between £Nil and the full value of the award detailed being repayable" and said "the outcome of the appeal cannot be reasonably determined or measured".
Without the Everton payment, Burnley's loss in the 2025-26 accounts would have been £47.8m rather than £9m. BBC Sport said a £47.8m loss would have been a record loss for Burnley.
Debt and refinancing
Burnley have £24.2m of bank loans due for repayment in January, with another £21.6m falling next August. The accounts said the club is in "negotiations to refinance and increase these facilities".
The accounts also noted that if an agreement is not reached the owners will require "additional finance to repay the amounts due". They said a number of events, including "the outcome of the ongoing compensation ruling appeal", could continue to "cast significant doubt" on the club as a going concern.
Maguire on the timing
Kieran Maguire, professor of football finance at the University of Liverpool, told BBC Sport: "It was a surprise that Burnley filed their accounts now, but it makes sense considering the Everton payment and pending appeal."
Maguire said: "If Everton are successful, and Burnley were to file their accounts next April, the £38.8m could not be included the 2025-26 accounts. So by reporting early, Burnley can include it and avoid potentially recording the record loss."
He also said: "The underlying features are that the club was still losing effectively more than £1m a week." "That was despite the benefits of being in the Premier League, and therefore relying on player sales and the Everton settlement to reduce the figures to something more palatable." "A more forensic look suggests that the underlying issues at Burnley still exist." "Given that they were in receipt of Premier League broadcast revenues and the benefits of being in the top division, that does suggest that the club faces ongoing challenges."
