The latest financial results for Dundee United reveal something of a mixed picture, although the chairman is very upbeat about them. The club is far less indebted than it was, but player sales have played an important role in keeping it on an even financial keel.
The latest financial results for Dundee United reveal something of a mixed picture, although the chairman is very upbeat about them. The club is far less indebted than it was, but player sales have played an important role in keeping it on an even financial keel.
The club made a £523k loss in the year to June 2011 compared with a £65k profit in the preceding year. This deterioration was largely the result of a £844k fall in turnover, in part reflecting the general state of Scottish football, but more specifically the fact that in the preceding year the club won the Scottish Cup and finished third in the table.
What the accounts do not include is the £2.8m received for the transfer of David Goodwillie to Blackburn Rovers in August and £300,000 received in the current window for the move of Scott Allan to West Bromwich Albion. The club’s debt to HBOS has reduced from £6m four years ago to a more manageable £3.8m. There is also a £1m overdraft facility and loans from directors.