Hibs losses not sustainable, says chief executive

By Brian McLauchlin BBC Sport Scotland Senior Reporter

Hibernian chief executive Dan Barnett says the club's recent financial losses are "not sustainable" and has outlined plans to move towards a more stable long-term model.

Hibs reported losses of £5.8m this year, taking the total to more than £18m over the past four seasons.

Barnett acknowledged they cannot continue to rely on financial backing from majority owners, the Gordon family, despite their ongoing support.

"We don't believe those losses are sustainable," he said. "You'll see that reflected in next year's accounts.

"We think there is significantly more revenue to be generated on the business side so that we are not dependent on European qualification or player trading in any given season."

Hibernian boosted their finances in January with the sale of striker Keiron Bowie to Italian club Hellas Verona for a near-£6m fee.

Barnett says the club's aim is to reach a position where it can regularly break even.

"That is what we are working towards," he added. "The Gordon family have shown incredible commitment, but our intention is to build a model that is sustainable in the long-term.

"You grow revenue, you grow the club. A key part of that is player trading – identifying young talent, developing them and then maximising their value."

'We would prefer to fill seats with own fans'

The club is also exploring ways to increase matchday income, including the potential to allocate more South Stand tickets to away supporters when Celtic and Rangers visit Easter Road.

Barnett insists no decision will be made without consulting Hibernian supporters.

Hibs estimate that unfilled seats in the South Stand could cost between £150,000 and £200,000 per year.

"We've been open about the balance between principle and revenue," he said. "We're working with fans to decide the best approach.

"We would always prefer to fill those seats with our own supporters, but we also have to consider the financial impact."

Hibs have, however, opted to freeze season ticket prices for next season, despite the potential to generate additional income.

"We want to keep football accessible and reward loyalty," Barnett added. "We broke our season ticket record last year and sales are already ahead of that pace again.

"My preference is to grow revenue in other ways rather than increasing prices for our supporters."