BARNSLEY Football Club CEO Jon Flatman says that reports of the club’s playing budget being cut to £3.5m next season are ‘simply incorrect’ - but admits the club need to work ‘smarter’ to ensure the budget is used effectively.

The club made a loss of £6.6m in the year up to June 2025, their latest accounts reveal.

The loss is more than double that of the £2.8m in the previous set of accounts.

The operating loss was just under £6.3m, down from £9.6m on the previous year, but the lack of major player sales meant the club lost more overall.

Flatman said that ensuring the club does not keep making such losses will help when meeting new investors who are looking to come into the club.

It was suggested that the club’s budget may fall as low as £3.5m - which would be one of the lowest in League One - but the club have dismissed the figure.

Flatman said: “Our chairman, Neerav Parekh, remains fully financially committed to Barnsley FC.

“Alongside the Cryne family, owners will continue to invest millions of pounds into Barnsley FC next season to ensure the club is competitive on and off the field.

“There is no expectation that any money will be taken out of the club, underlining once again the board’s continued desire to see Barnsley FC prosper.

“We also want to address reports over the weekend regarding our playing budget.

“The figures quoted are simply incorrect.

“However, we do need to work smarter and ensure that every element of the budget is used effectively.

“We cannot continue to depend indefinitely on owner investment from Neerav and the Cryne family, and in order to remain competitive, we must ensure our costs are controlled and we are working with all partners and fans to maximise opportunities.

“This focus on sustainable operations reflects the wider reality of football finances, and we are not alone in responding to it.

“Across the EFL, League One clubs are now reporting average annual losses of £6.6m, up from £2.2m just four years ago.

“Over this period, owner funding has risen from £2.8m to £9m per annum.

“More than half of EFL clubs have only one month’s worth of cash in the bank.

“This is an incredibly fragile situation for such important community assets.

“In discussions with several League One owners and CEOs, it is clear that across the division there is a growing recognition that clubs must reduce losses, operate more efficiently and create stable financial models for the years ahead.

“The newly appointed Independent Football Regulator will work to reduce the sport’s reliance on owner funding and help clubs operate on more secure financial platforms.”

Flatman added that recruitment is ‘central’ to Barnsley’s identity - and believes that last summer’s recruitment has been important for the club.

He said: “Importantly, reducing losses not only protects the club’s sustainability - it also strengthens our position when engaging with potential new investors or strategic partners.

“Smaller, controlled losses make Barnsley FC a more attractive and viable proposition to those who may wish to support the club’s long-term ambitions.

“Financial discipline today creates opportunities that are simply not accessible when operating at high levels of annual loss.

“Recruitment remains central to our identity.

“Barnsley FC has a proud tradition of developing talent, both through our academy and via targeted signings who are nurtured and progressed.

“We believe recent recruitment last summer has already strengthened the foundations of this model.

“The club has a sustainable future, and we must remain focused on protecting it for many years to come.

“We will continue striving for success on the pitch while taking the steps necessary to secure long-term stability off it.”