Hibernian CEO warns club losses unsustainable, details plan

Hibernian chief executive Dan Barnett has delivered a clear message: the club’s recent financial losses cannot continue, and a shift towards long-term sustainability is already underway. Barnett, speaking after the club reported a £5.8m loss this year—bringing total losses to over £18m across the last four seasons—said the current model is “not sustainable” and pledged to move Hibs onto firmer financial ground.

The Easter Road club, currently fifth in the Scottish Premiership, has for years relied on significant financial backing from its majority owners, the Gordon family. While Barnett praised their “incredibly generous” support and long-term commitment, he insisted that depending on their intervention is not a viable strategy going forward. “We don’t believe those losses are sustainable,” Barnett said. “You’ll see that reflected in next year’s accounts.”

Barnett emphasised that increasing commercial revenue is a key objective, so Hibs are not left hoping for windfalls from European qualification or player sales each season. “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,” he explained.

A notable boost came in January, when Hibernian sold striker Keiron Bowie to Hellas Verona for a fee close to £6m. Yet Barnett made clear that relying on such deals cannot be the foundation of the club’s financial health. His aim is to reach a position where Hibs can regularly break even without needing player sales or European runs just to balance the books.

Ticketing strategy at Easter Road has also shifted as part of this broader push for sustainability. The club recently decided to stop giving Celtic and Rangers fans exclusive access to the entire South Stand—around 3,700 seats—for their visits. Instead, more seats are being reserved for home fans. While this move could cost Hibs up to £200,000 per year if those additional home tickets go unsold, Barnett described it as an issue of balancing principle with revenue.

“We’ve raised it with the fans forum,” Barnett said of ongoing discussions about allocations for Old Firm matches. “We’ve been very open and honest about what we want to do in principle, versus what the impact is from a revenue perspective. We’re working with the fans to make that decision together in terms of the position we adopt and whether it’s worth doing it that way.”

Barnett acknowledged that the potential loss of income from Old Firm matches was calculated with supporter engagement in mind rather than purely financial return. “It equates to around between £150,000 and £200,000 a year if our fans do not take up the allocation that’s not allocated to the offer,” he confirmed.

In another move prioritising supporter loyalty over short-term gain, Hibs have frozen season ticket prices for next season. Although this could have brought in extra income, Barnett said it was more important for football at Easter Road to remain accessible and for loyal fans to be rewarded. “So far, it’s paying off,” he noted. “We broke our records for season tickets last year, and we’re tracking well ahead of that for this season.”

Barnett remains confident about Hibs’ direction despite recent losses. He pointed out that annual deficits have been shrinking: “I think it was circa nine [million], then seven, then five and a half this year, and it’ll be lower again next year.” He believes continued growth in revenue will allow Hibs to become financially sustainable for the long term.

For fans concerned about another summer of high-profile departures, Barnett said Hibs are not under pressure to sell players this window. He emphasised his goal is for player trading—and earnings from European football—to become bonuses rather than necessities.

As things stand, Barnett says: “We have a plan, and we can see how we’ll be financially sustainable for the long term.”