London City Lionesses Publish 2024/25 Financial Results

Strategic investment phase strengthens foundations for long-term Women’s Super League ambition

LCL Sports Group Limited, the owner and operator of London City Lionesses, has published its financial results for the year ended 30 June 2025, outlining a year of significant strategic investment as the Club strengthens its position within the professional women’s game.

The results reflect a deliberate phase of accelerated investment aligned with the Club’s long-term ambition to compete at the highest levels of professional women’s football.

Revenue for the year was £901,715 (2024: £780,253), with a loss of £10.6 million (2024: £2.5 million), reflecting increased expenditure across football operations, matchday operations, infrastructure, player development and commercial capability.

Investing to Compete at the Highest Level

During the financial year, London City Lionesses significantly expanded its operational and football infrastructure:

• Total fixed assets increased to £6.7 million (2024: £3.6 million), driven by the investment in facilities and capital improvements.
  

• Carrying value of player registrations rose to £203,043 (2024: £15,116), reflecting continued squad development.
  

• Average employee numbers increased to 61 (2024: 34), supporting enhanced performance, coaching, medical, commercial and operational functions.

  
  

This investment programme is designed to build a sustainable, high-performance environment capable of supporting progression within the Women’s Championship (now called WSL2) and long-term competitiveness in the Women’s Super League (WSL).

Strong Shareholder Backing

During the year, capital contributions of £12.5 million were provided by the Club’s immediate parent company, YMK Holdings LLC (2024: £9.9 million), owned by Michele Kang.

This continued shareholder support underpins the Club’s long-term strategy and Michele Kang’s commitment to sustainable growth within the evolving women’s football landscape.

However, as is right and proper, the Directors have prepared cashflow forecasts for a period greater than 12 months from the date the financial statements were approved and confirmed that the financial statements have been prepared on a going concern basis, supported by a formal letter of financial support from the primary investor. Ernst & Young LLP has issued an unmodified audit opinion, and as is standard for growth-phase football clubs reliant on shareholder backing, the auditor has highlighted a material uncertainty relating to going concern without modifying its opinion.

A Long-Term Vision for Women’s Football

London City’s Chief Executive Martin Semmens said: “The 2025 financial year represented a transformational step in the Club’s journey, strengthening its competitive foundations, investing in its professional infrastructure and reinforcing its ambition to compete at the top of the women’s game.  We are committed as a Club, and under the ownership of Michele Kang, to contributing to the continued growth and professionalisation of women’s football, with a clear ambition to raise standards across the game, build elite football facilities to support female athletes, expand the fanbase, and deliver long term success."

Financial Highlights

2025 2024
Revenue			£0.9m	£0.8m
Operating loss			£10.6m	£2.3m
Loss for the year			£10.6m	£2.5m
Net assets			£6.3m	£4.4m
Cash at bank			£2.4m	£0.2m
Capital contributions			£12.5m	£9.9m