Steve Gibson saluted for dealing with £121m Middlesbrough drop-off

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It’s been a long time since Middlesbrough last played Premier League football. However, thanks to some shrewd business and lots of generosity from Steve Gibson, the Teessiders are well-placed financially.

Middlesbrough have got off to a flying start this season, and now it’s down to Rob Edwards to maintain that and get the club back to where many fans would say it belongs.

Nine years have gone by since Boro were last in the top flight. That’s too long by any standard, and the Teessiders have been slipping further away from promotion over the last three years.

He may not always be the most popular man around the club, but Steve Gibson has got plenty right in his long tenure at the Riverside. Now, with the right manager and a very sturdy financial base, everything is in place for Boro to properly challenge for promotion.

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How Steve Gibson deals with parachute payment deficit

EFL Analysis spoke to finance expert Adam Williams to get the lowdown on where Middlesbrough stand given it’s been so long since they were in the Premier League. By the sounds of it, Steve Gibson has absorbed most of that financial burden.

Williams said: “Clearly, Boro are well past the point of parachute payments. They’ve gone from earning £121m the last time they were in the Premier League, to around £60m with parachute payments. There has then been a drop-off to around the £25m-mark post-parachutes.

“They have lost over £100m since they were last in receipt of parachute payments. Clearly that is a shortfall that the owners have needed to underwrite. Steve Gibson has given the club about £170m in capital and loans and he’s never going to see a direct return on that.”

What’s next for Boro then? Where do they stand in terms of competing with teams like Southampton, Leicester City, and Ipswich Town that have the advantage of those parachute payments?

Williams added: “It looks like they are now really trying to increase revenue to limit the amount of external funding that is required. The good news is that they earn more matchday income than nearly every Championship side. They have a very committed, very engaged fanbase. At £12m, commercial income is also one of the best in the league.

“They are in a good place to be able to challenge financially. That is, if they get things right on the pitch and from a strategic point of view, as they are doing this season. Middlesbrough have got plenty of FFP freedom, too, thanks to Gibson’s careful management of the club.”

• READ MORE: Middlesbrough fans make clear team selection demand to Rob Edwards amid Morgan Whittaker dilemma

It’s time for Middlesbrough to return to the Premier League

The start Rob Edwards has made at Middlesbrough is far better than his predecessors. And the good thing is it doesn’t seem like a flash in the pan.

Boro look organised, resilient, and difficult to break down. If they can find their flow in attack, they’ll be right up there come the end of the season. Given the talent in the squad, there’s no reason they shouldn’t be one of the top two teams in the division.

Keeping hold of Hayden Hackney was arguably the most important deal Middlesbrough made all summer. With quality additions around him, and potential for more in January, top flight football could soon return to the Riverside.

Let’s be honest, it’s a venue that deserves to be in the Premier League. And the fanbase is huge, too. An average of over 25,000 fans poured into the ground last season. That’s 75% compared to the ground’s capacity.

Clearly, supporters are not giving up on the dream. Now it’s time for the team to make it a reality.