Sheffield United have significantly reduced their annual deficit, the club has announced. In a year when the club was taken over by Saudi Arabia’s Prince Adbullah bin Mosaad bin Abdulaziz, losses at Bramall Lane have been significantly reduced by more than £8m, according to the club’s annual accounts issued on Friday, November 22. United cut their wage budget by £4.1m and they made £3.1m on player trading.
Sheffield United have significantly reduced their annual deficit, the club has announced. In a year when the club was taken over by Saudi Arabia’s Prince Adbullah bin Mosaad bin Abdulaziz, losses at Bramall Lane have been significantly reduced by more than £8m, according to the club’s annual accounts issued on Friday, November 22. United cut their wage budget by £4.1m and they made £3.1m on player trading.
According to the Blades, Sheffield United made a retained loss of £4.6m (compared to £13m in 2012) following restructuring changes on and off the pitch which saw a major reduction in the overall cost of the players’ salary bill, although it was still regarded as the highest in League One.
For the 2012/13 season the club generated turnover of £8.9m (£10.3m in 2012). Gate receipts were down from £4.5m to £3.7m – a decrease due to reduction in revenue from play-off fixtures and cup games. Television income and prize money was down £0.2m to £1.2m.
A saving of £4.1m was made on player wages and player trading contributed to £3.1m of profit primarily due to the transfers of Matt Lowton and Nick Blackman plus appearance payments in respect of Kyle Walker.