Sunderland AFC Doubles Turnover

Sunderland has doubled its turnover in its first year in the top flight to over £63m. Losses fell from £13.6m in its last year in the Championship to £2.2m in its first Premiership season. TV revenue increased four-and-a-half times to £35.6m, sponsorship revenue doubled to £8.2m and gate receipts rose by 51 per cent to £13.6m. The accounts show that the shareholders, who at the time were the Irish-based consortium Drumabille, were owed £36.6m by their trading division the Sunderland Association Football Club Limited. It is estimated that new owner Ellis Short spent £15m buying the club, is likely to have spent further millions clearing off Drumaville's debts, plus money for transfers last summer bringing his total outlay to a reported £80m. The club's staff costs rose to £32.8m from £21m and the total number of full-time employees rose from 239 to 267.