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Financial Results

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Leeds United accounts scrutinised

The auditing of the accounts of Leeds United are to be scrutinised by the Institute of Chartered Accountants for England and Wales over a potential conflict of interest.

The accounts were audited by a firm where one of the partners is a brother of Leeds United Andrew Umbers, although they were signed off by another partner.

Newcastle sitting on pile of cash

Newcastle United's full accounts have now been filed at Companies House and they show that £38.6m has been transferred into the club's bank accounts as a cash flow sum, £4.5m of which was used to pay off an overdraft.

This news will reinforce criticisms that the club puts profit before ambition, having failed to sign a player in the January transfer window.   Fans are planning a boycott of Sunday's home game against Tottenham Hotspur.

Big losses at Shrewsbury Town

The cost of relegation to League 2 is reflected in losses of £285,000 at Shrewsbury Town.   Substantial losses are also anticipated this year as the club has spent to secure promotion.

Attendances did fall in League 2, but at an average attendance of 5,104 the club is ranked sixth in League Two.  As the only senior club in Shropshire, it has a good catchment area to draw on.

Crystal Palace make good profit

As the Premier League returns to the black, Crystal Palace are the latest club to report a profit.    They have managed to achieve 25 per cent pre-tax profits, £23m on turnover of £93.4m.   They achieved a good profit in percentage terms in their last year in the Championship, £3.5m on a much smaller turnover of £14.5m or 24 per cent.

Their case illustrates how much the smaller clubs in the Premier League rely on broadcasting revenue which accounts for 81 per cent of their turnover.

Good and bad news in Rangers accounts

The latest accounts from Rangers for the six months to December 31st contain both good and bad news. On the postive side, the operating loss was down by £800,000, largely reflecting the fact that costs were down £1 million.  Revenue was stable at £13m, reflecting the fact that the alienated fans who had decided to stay away had already gone.

Magpies are latest club in profit

Newcastle United are the latest Premier League club to report a profit for the 2012-13 season, £18.7m up from £9,9m in the previous financial year.   This is the fourth consecutive year in which the club has made a profit.

As far as fans are concerned, this profit has not been reflected on the pitch with a thin squad and insufficient acquistions of new players.   The club is £129m in debt to owner Mike Ashley.

Good results at Southampton

A good season on the pitch for Southampton FC has been matched by a good set of financial results for 2013-14.   Southampton have more than exceeded the expectations of the pundits, some of whom were forecasting relegation at the beginning of the season.

Sunderland benefit from television deal

The latest accounts from Sunderland AFC for the 2013-14 financial year show the benefits a smaller club derives from the Premier League television deal.   Broadcasting revenue, up from £44.9m to £71.8m was over five times gate revenue at £13.7m up from £12m.

All you want to know about Liverpool's finances

The highly impressive Swiss Ramble blog takes an in depth look at Liverpool's recent accounts with some great graphics and tables.   The author confims that the club should not face any financial fair play problems.

Liverpool turned a profit for the first time in seven years, but rank just tenth in terms of pre-tax profits by Premier League clubs.   In other words, half the Premier League clubs returned a profit in 2013/14 (and there are still some accounts to come).

Leicester in FFP talks

Leicester City are bottom of the Premier League and increasingly look unlikely to escape relegation.  Now they face the additional problems of talks with the Football League about their £20.8m loss in the last financial year and whether it represents a breach of financial fair play rules.

From the League's perspective it is in excess of the £8m permissible loss, but Leicester consider that £13m of the losses are due to the costs of promotion.   They have also reduced losses from £34m in the year ending May 2013.