Carlisle United Football Club have released the Club’s annual accounts and Strategic Report, giving supporters a clear update on the 2024/25 season, both on and off the pitch, and outlining the plans now in place to take the Club forward.
It was a tough season for everyone connected with United, and it ended in relegation to the National League. But the report also highlights the huge amount of work happening behind the scenes to strengthen the Club, improve Brunton Park, grow community impact, and build a long-term plan for success.
ON THE PITCH
The 120th season in the Club’s history brought significant challenges. Three different managers took charge during the year, with Mark Hughes joining as Head Coach in February 2025. After a difficult run of results, relegation was confirmed in April.
BIG IMPROVEMENTS OFF THE PITCH
Despite results on the pitch, there was major progress behind the scenes.
East Stand Transformation, £6 Million Investment
Completed in May 2024, this major project delivered:
- Four new hospitality lounges
- Eight executive boxes
- New offices and classrooms
- Over 200 additional hospitality spaces
These facilities have already proven popular and are supporting the Club’s growing commercial income.
Stadium Upgrades
Further developments included:
- A new Warwick Road End Fan Zone and upgraded toilet facilities
- LED pitchside advertising boards and big screens
- New home changing rooms and improved match official areas
- Upgrades to the Neil Centre
These improvements provide the modern infrastructure required to support long-term growth.
FINANCIAL OVERVIEW
The Club’s turnover fell from £8.3m to £6.6m, primarily due to reduced player trading income.
However:
- Matchday income remained strong
- Commercial income increased
- Average attendance remained resilient at 7,424
Investment in the playing squad rose significantly:
- Football costs increased to £5.4m
- Over £500k spent on transfer fees
- Player wages increased by £1m
Thanks to continued backing from Castle Sports Group, the financial risk to the Club remains low despite increased investment.
KPIs / Financial performance
| Category | 2025 (£) | 2024 (£) |
|---|---|---|
| Business Turnover | ||
| Matchday | 2,135,057 | 2,099,261 |
| Commercial | 1,028,918 | 866,324 |
| Retail | 738,755 | 1,003,537 |
| Football Fortune | 606,311 | 1,919,140 |
| Professional game income | 2,241,860 | 2,251,894 |
| Website and streaming | 103,397 | 131,902 |
| Donations | 45,671 | 41,371 |
| Total | 6,899,969 | 8,313,429 |
| Business Costs | ||
| Football costs | 5,764,498 | 4,166,604 |
| Matchday | 318,433 | 296,704 |
| Retail | 583,611 | 512,171 |
| Commercial | 308,104 | 237,407 |
| Overheads | 3,568,628 | 2,262,898 |
| Costs excl. Dep’n and exceptional items | 10,543,274 | 7,475,784 |
| PROFIT / (LOSS) FOR YEAR | (5,020,420) | (2,789,772) |
COMMUNITY FIRST
The Carlisle United Community Sports Trust continued its impactful work:
- Over 25,000 participants engaged in programmes
- More than 28 community projects delivered
- EFL Silver Award achieved for Equality, Diversity & Inclusion
The 2024/25 season also saw the introduction of a dedicated EDI Team to further support inclusivity across the Club and community.
A CLEAR VISION FOR THE FUTURE
Following the season, the Club conducted a full review and established a long-term strategic plan.
Our Vision
“To compete at the highest level possible as a sustainable football club that inspires pride and belongs to everyone.”
Our Values
Introduced this season, our club values help ensure everyone involved in the club is pulling together to deliver our vision.
Integrity / Excellence / Ambition & Innovation / Teamwork & Respect / Pride & Passion
Five Key Priorities
- Return to the Football League and strengthen player development
- Improve fan and community engagement
- Grow commercial income to support the playing budget
- Invest in facilities and ensure long-term sustainability
- Build a strong, unified culture across the Club
BOARD STATEMENT
The Board acknowledges the disappointment of relegation but emphasises the importance of progress made off the pitch: “This has been a challenging year, but important foundations have been laid. We’ve invested in our people, facilities, hospitality, commercial growth and community. We are fully committed to building a strong future for Carlisle United.”
LOOKING AHEAD
The Club is determined to move forward with greater accountability, a clearer structure, and a renewed focus on success.
With strong foundations in place and continued support from its owners and community, Carlisle United is focused on rebuilding and returning stronger in the seasons ahead.
FINANCIAL UPDATE
Since taking over Carlisle United Football Club, the Piatak family have continued to invest significantly in supporting and developing the Club, both on and off the pitch.
As part of that ongoing commitment, the owners have confirmed that £12 million of funding provided to the Club has been converted from loans into equity.
In simple terms, this means the money no longer needs to be paid back by the Club and is instead treated as a long-term investment, helping to strengthen the Club’s finances and keep risk low.
This approach is consistent with the Club’s wider financial strategy, where investment has increasingly been provided through equity rather than debt to ensure a strong and sustainable structure.
Tom Piatak, Chairman, said: “We’ve always said we are here for the long term, and this is another step in that commitment. By converting this funding into equity, we’re removing pressure on the Club and giving it the strongest possible platform to grow.
“We believe in Carlisle United, its supporters, and its future, and we will continue to invest to help the Club move forward in a sustainable and responsible way.”
Read the full annual accounts and Strategic Report HERE
