Gillingham Football Club has revealed a pre-tax loss of £4.3 million for the 2023/24 season, an increase from the £2.1 million loss reported the previous year.
Despite a rise in revenue, the Kent-based club’s financial difficulties have continued to deepen. The period covering 1 June 2023 to 30 June 2024 saw Gillingham’s revenue climb from £6.3 million to £8.2 million, driven largely by a 92% surge in commercial and catering sales. This increase in income, however, was not enough to prevent a widening of the club’s financial losses.
On the pitch, Gillingham’s 2023/24 campaign has been relatively steady, with the team finishing mid-table in League Two. Off the field, the club welcomed several new signings, including the return of Bradley Dack to senior football and the acquisition of Cypriot striker Marcus Wyllie from Enfield Town.
However, despite these changes, Gillingham has struggled with consistency this season. In January, the club parted ways with manager Mark Bonner, replacing him with John Coleman until the end of the campaign. On 25 March 2025, Coleman himself departed, and Gareth Ainsworth was appointed as the club’s new manager.
“Here at Gillingham, we’d met Brad and Shannon (Galinson) in the summer at the start of last season. When I got permission to speak to Gillingham again, the plans were outlined. (They were) very exciting and guaranteed plans,’ Ainsworth said upon his appointment. ‘This is what’s happening, this is what you’ve got’. This is a two-year journey that we want you to be part of.”
Gillingham currently sits in 19th place in League Two, 11 points above the relegation zone, with just a few months left in the season. Despite the managerial changes and on-field struggles, the club’s board remains optimistic about the future, hoping that new leadership will help guide them away from the threat of relegation.
While Gillingham’s financial loss is a concerning figure, the rise in revenue offers some hope. The significant increase in commercial and catering sales signals a positive trend, with the club potentially able to sustain itself even through difficult times if it can build on these gains.
Writer’s View
Gillingham FC’s widening pre-tax losses highlight the challenges faced by many lower-league clubs, where financial sustainability often hangs in the balance despite revenue boosts. The increase in income, particularly from commercial sales, is encouraging, but the struggles on the pitch and managerial turnover show that success cannot be bought solely through commercial gains. Gillingham’s future will depend on how well they stabilise both their on-field performance and their financial footing under new management.
