The costs of making a push for the Premier League before parachute payments end are shown in Middlesbrough’s latest accounts. A loss of £13.81m was recorded over the 18 months to 30 June 2011 despite player sales. The wage bill amounted to over £36m.
Chairman and benefactor Steve Gibson continues to bankroll the club. At the end of the year the club owed banks £27m but this has been refinanced and covered by the Gibson O’Neill company meanning that Boro has no external borrowings.
The costs of making a push for the Premier League before parachute payments end are shown in Middlesbrough’s latest accounts. A loss of £13.81m was recorded over the 18 months to 30 June 2011 despite player sales. The wage bill amounted to over £36m.
Chairman and benefactor Steve Gibson continues to bankroll the club. At the end of the year the club owed banks £27m but this has been refinanced and covered by the Gibson O’Neill company meanning that Boro has no external borrowings.
Next year’s accounts are expected to show better figures with manager Tony Mowbray slashing the club’s wage bill by half. Administrative costs have also been reduced.