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Articles on football club company financial results – interim or full-year.
Quite why Chelsea have chosen to release their financial results on New Year’s Eve is an interesting question, particularly as they feel they tell a good story.
The club made a loss of just under £50m, compared with a small profit of £1.4m last year. Last year’s small profit was influenced by special factors including player sales and the ending of a joint digital venture with Sky with led to a one off payment.
Sheffield United have significantly reduced their annual deficit, the club has announced. In a year when the club was taken over by Saudi Arabia’s Prince Adbullah bin Mosaad bin Abdulaziz, losses at Bramall Lane have been significantly reduced by more than £8m, according to the club’s annual accounts issued on Friday, November 22. United cut their wage budget by £4.1m and they made £3.1m on player trading.
Manchester United’s financial results for the quarter ended 30 September show that total revenue was up 29.9%, with record first quarter revenue of £98.5m. The club predicts revenues for the whole year of £420m-£430m, bringing it closer to Europe’s wealthiest clubs, Barcelona and Real Madrid.
Hull City will this week announce the club made a loss in its promotion year to the Premier League of just under £28m. The figure, £27.8m, principally financed manager Steve Bruce’s signings and an increased wage bill in the 12 months to 31 July this year. The losses came before the summer’s major signing for City, midfielder Tom Huddlestone from Tottenham Hotspur for £5m.
Coventry City’s affairs are complicated with three companies involved. It now appears that accounts for Coventry City Football (Holdings) Limited for 2011/12 will never be produced as the company is to be struck off the Companies House register.
Accounts have appeared for Sky Blue Sports & Leisure Limited for the year up to May 2012 when the club was relegated to League One. These show net liabilities of £37.7m. with in year losses of £4m, compared with £16m the previous year. The losses were offset by £2.8m profit from player transfers.
Blackburn Rovers have posted an annual pre-tax loss of £36.5m after relegation from the Premier League in 2012. This compares with a £4.3m profit a year earlier.
Their accounts reveal a £27.3m drop in turnover and a worrying 136.1 per cent wages-to-turnover ratio for the year ending 2013, with wages totalling £36.6m. There was an operating loss of £24.3m before player trading.
Swansea City FC have announced details of its latest accounts which show a healthy profit of £15.3m for the year ending May 31, 2013. The club saw its turnover, excluding player dealings, increase by £1.9m to £67.1m, up from £65.2m the previous year.
Profit before interest charges and taxation amounted to £20.6m which was made up of £8.4m from normal operations and £12.2m from player dealings which arose in the main from the sale of players Joe Allen and Scott Sinclair.
Carlisle United have posted losses of over £660,000 in their latest set of accounts. This is a substantial loss for a League One club, particularly one that benefits from a lack of competition from other clubs in higher leagues. The results also demonstrate how sensitive financial results are at this level to fluctuations in attendances.
It is always commendable when a football club announces a profit and particularly so when that club is in League 1 where there are not big television revenues, substantial gates or lucrative sponsorships. Walsall face a lot of competition in their catchment areas from Premiership and Championship teams or even another League 1 team with a big support base, nearby Wolves.
Norwich City FC have wiped out all of their external debt and returned a small profit after tax of £500,000, the Premier League club revealed on Thursday in accounts published for the year end May 31, 2013 (which cover a 13-month period).
This is before the effects of the Premier League’s new television deal show up in the accounts. The £49m the club received for television rights last season will rise to somewhere between £62m and £64m, with an extra £1.25m for every position above 20th the club achieves.