Exeter City: League Two side make £2.9m profit despite Covid-19 pandemic
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England striker Ollie Watkins joined Exeter City aged nine and left the club for Brentford for £1.8m in 2017
Exeter City made a profit of £2.9m in the year to 30 June 2021 despite the Covid-19 pandemic.
The club earned £4.94m in transfer income over the 12-month period, largely down to the sell-on clause in Ollie Watkins' £28m move from Brentford to Aston Villa in September 2020.
City got around £4m for Watkins' Villa sale and another £300,000 in add-ons.
The club also sold Ryan Bowman, Nicky Law and Ben Chrisene for undisclosed fees during the period.
The figures do not cover Joel Randall's £1m move to Peterborough United in August or two more England appearances for Watkins, which attract additional payments.
Without the transfer income the League Two club would have made a loss of just over £1.4m - the club's turnover dropped by £2.2m with fans unable to attend matches for almost all of last season.
Supporter-owned Exeter are using some of the money earned in transfer fees to fund new buildings at their training ground.