Aberdeen FC will be virtually able to clear debts that have hampered them for years as a result of a generous intervention by a local civil engineering company. W M Donald want to put something back into the community and will reduce debts of £15.9m by £14.49m. The cost of servicing the debt was £500,000 a year.
Aberdeen FC will be virtually able to clear debts that have hampered them for years as a result of a generous intervention by a local civil engineering company. W M Donald want to put something back into the community and will reduce debts of £15.9m by £14.49m. The cost of servicing the debt was £500,000 a year.
The club’s annual results show an increase in turnover from £7.85m to £11.15m. Wages went up from £5,25m to £6.04m because of higher bonus payments, but the wages to turnover ratio dropped from 67 per cent to 55 per cent. This is only just above the recommended 50 per cent level and is a ratio that most clubs would be happy with.
The club’s improved financial position is not likely to lead to big spending on players, but may accelerate their move away from Pittodrie to a new stadium.