|
Fulham look set to make their first profit since Mohamed Al Fayed acquired the club from the Muddyman family in 1997, largely thanks to the £12.8m transfer of Louis Saha to Manchester United. In 2002-3 the team reported a £33.6m pre-tax loss, only eclipsed by Leeds United, but results to 30 June 2004 are expected to show a profit of just over half a million on turnover of £39.1m. With the return to Craven Cottage, gate receipts are anticipated to be 20 per cent higher than last season when matchday income was £7.6m. The club has even exploited a special niche in the London market by setting aside a seating area for 'neutral' fans. However, they are not expected to make another profit this season because of their poor showing on the pitch and a realignment of television revenues under the new Premiership deal with BSkyB. Television money is likely to be about 20 per cent lower. Fulham's wage bill is still unsustainable at £32m, representing 75 per cent of turnover. Al Fayed's total investment at the club now stands at £140m, but he has denied rumours that he will pull out, although the days of profligate spending are over.
|
