Preston Pay For Promotion Push - 26/11/2006

Preston North End was the first team to win the English league and the first to achieve 'the double'. One corner of their ground houses the excellent National Football Museum which is well worth a visit. However, once known as the 'Invincibles', they are seeking a future in the Premiership rather than looking to the past. But there is a price to pay for such ambition and the club widened its operating losses from £2.69m in the previous year to £4.18m in the twelve months to June 30. The club commented, 'By the time we reached the January transfer window, we were again looking likely contenders for the play-offs. The board therefore sanctioned further investment in the club.' Preston reached the Coca-Cola Championship play offs for the second year running, but once again missed out on promotion. The club had to sell players to recoup losses and ended up with a small retained profit of £55,000, its first for a number of years. Pre-tax losses narrowed to £87,000 in the year to June 30 compared with £2.1m in 2005. Turnover was down from £7.85m to £7.26m. The Premiership prize is more inviting than ever, but will it prove to be just beyond the Lancashire club's grasp? At least they do not face the difficulties of nearby Nationwide North Lancaster City who play at the unusually named Giant Axe ground (which you can see from the west coast main line), but could face a winding up order from creditors.