Gillingham's Turnover Fell 8%. Their Loss Still Grew

In the 2024-25 season covered by these accounts, Gillingham competed in the lower half of League Two, a difficult campaign that continued a period of instability for a club that has changed hands and managers repeatedly in recent years.

Turnover fell by around 8% to close to £8m, and a pre-tax loss of around £6m, larger than the club's entire turnover for the period, shows the financial strain of competing even at this level without a settled ownership structure behind the club.

Net assets in deficit by around £8m, alongside estimated borrowings of around £7m, add up to a genuinely stretched financial position for a League Two club, one that leaves very little room for further setbacks.

Staff costs of around £7m against turnover of £8m show a wage bill still running close to income, a gap that has become harder to manage as revenue has declined.

Gillingham's accounts reflect a club whose off-field instability has become as much a story as anything happening on the pitch, a financial position that will need careful management to avoid further deterioration.