It is not that often that a football club records a profit, and even remarkable when they achieve in four of the last five years. But that is what Dundee United have done with a profit of £1.218m in the year to June 2014. These figures do not take into account millions made in the transfer market over the summer.
It is not that often that a football club records a profit, and even remarkable when they achieve in four of the last five years. But that is what Dundee United have done with a profit of £1.218m in the year to June 2014. These figures do not take into account millions made in the transfer market over the summer.
This was achieved with a relatively small increase in revenues of 3 per cent. The wages to turnover ratio was also above the recommended 50 per cent at 63 per cent. However, that is relatively low by the standards of some clubs and football is, after all, a labour intensive business.
The Tangerines wiped out their £4m bank debt in February last year after a settlement was agreed with the lender, the club and investors.
Chairman Stephen Thompson told the club’s official website that without the bank debt arrangement the financial picture would have been less positive, with an operating loss of £114,000.