CHERRIES recorded a total profit of £44.5million in the club’s 2022-23 annual accounts, with a year end of June 30.

This is in stark contrast to the £55.5m loss recorded in the previous 12 months, owing mainly due to the club competing back in the Premier League.

During that period, Bill Foley also completed his takeover of the club.

As part of the announcement from Cherries, the club say: “During the financial year, the club’s focus was on improving its performance in the Premier League, while ensuring that the business was on a stable financial footing.

“Alongside a recruitment strategy of targeted expenditure on playing squad assets, the club reaffirmed its commitment to constructing a state-of-the-art training facility at Canford Magna, a project for which £7.2m had been invested at June 30, 2023.”

The accounts show turnover was up by £87.8m to £141m, mainly due to factors attributable to Cherries’ Premier League status, which was achieved in May 2022.

The club recorded an operating profit of £52.1m and also recognised a gain of £71.4m upon the write-off of shareholder loans.

The accounts add how in February 2023, £30million was committed to fund the development of the new training facility at Canford Magna.

The club’s full accounts can be read here.

Other figures of note show £130.1m was spent on player transfers and registration costs, including the likes of Marcus Tavernier, Marcos Senesi, Antoine Semenyo, Dango Ouattara and Illia Zabarnyi, with £2.2m coming in by the way of sales.

It is also noted after the year end date, the club invested a further £86.5m on signing five players, selling two for £1.1m.

The club’s greenhouse gas emissions continue to rise, now up to 911 tonnes from 667 tonnes in 2021-22 and 558 tonnes in 20-21. The report states: “This is the first season since the inception of mandatory Greenhouse Gas Reporting that the club has not been heavily affected by the Covid pandemic. Covid rules and restrictions previously led to erratic results.

“The geography of away games is also a determining factor to the CO2 emissions. Due to the club's location, in order to maintain competitive parity with other teams in the league, the club often uses charter flights to transport players to away fixtures in the north of the country.

"This is due to sports science advice and the fact that other methods of transport are not as efficient at delivering the club's elite athletes in as good a physical condition.

“AFC Bournemouth Limited makes consistent effort to minimise greenhouse gas emissions through shared transport and encouragement and sourcing of energy efficient practices.”

The report also reveals the club’s “highest paid director” received remuneration of £2.06m, a rise on the £2.02m in 2022.

Discussing the accounts figures, chief executive Neill Blake said: "This was an important financial year for the football club, with Bill taking ownership and investing immediately into the playing squad. The aim of securing our status as a Premier League club for the 2023/24 season proved to be successful.

"We will now continue to invest in our playing and non-playing staff, and the facilities in which they perform, as we seek to find competitive gains wherever possible. The new training facility will allow us to not only attract exciting new talent, but also give them a greater chance of realising their full potential.

"Given our relatively small stadium size, and as a result our comparatively low revenue streams, it is vital that we nurture such a positive mindset throughout the club in order to grow into an established top-flight team."