Hull FC's Accounts Show £3m of Borrowings and Only Three League Wins All Season

In the 2024 Super League season covered by these accounts, Hull FC finished 11th, second from bottom, with just 3 wins from 27 games and a points difference of −566, the second-worst return in the division. It was a season to forget on the field, and the accounts show a club under real financial pressure to match.

Turnover came in at around £6m, with a loss before tax of about £1m. More striking is the balance sheet: net liabilities of roughly £5m, and estimated borrowings of around £3m, among the heavier debt loads in this dataset, comparable to Salford Red Devils and Wakefield Trinity, and well above most other clubs here.

Current assets of around £1m give the club only modest short-term cushion against that debt position. Taken together, the picture is of a club funding its operations more through borrowing than most of its Super League peers, at exactly the point in its history when results were going the wrong way.

A near-bottom finish and the heaviest disclosed debt burden in this data are not necessarily connected, but they make for an uncomfortable pairing in the same set of accounts.

Rugby league's salary cap means Hull FC couldn't simply outspend their way out of trouble on wages even if the balance sheet allowed it, cap room is capped regardless of turnover. That makes the borrowings figure more significant than it might be in an uncapped sport: it points to cash pressure away from the pitch rather than a spending spree on the squad, and it's a position the club will want to see improve before results turn around.

Balance sheet snapshot

A heavy debt load sitting against modest current assets and a near-bottom league finish.