Article Taxonomy: Financial Results

Articles on football club company financial results – interim or full-year.

Hearts reduce debt

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Hearts have announced a profit for the second successive year and reduced their debt to £24m.  That is still a substantial amount, but it is the lowest level for six years.   The figures relate to the 11 months until 30 June 2011 and therefore do not cover the current season when owner Vladimir Romanov has said that he wants to sell the club  and there have been four months of significant delays in paying salaries.

Liverpool losses not as bad as they look

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Liverpool have reported losses of £49.4m in the last financial year, but the situation is not as bad as the headline figure would suggest.   The loss is exceeded by a £59m provision for exceptional items.  

These include £35m written off on the Stanley Park stadim project and £8.4m in costs relating to contract terminations.  The latter relate to the sacking of Roy Hodgson, now England manager, after 191 days in charge.   However, compensation was also paid to former managing director Christian Purslow.

More financial turmoil at Blues

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The release of the financial results of Birmingham City’s parent company, Cayman Islands registered, Birmingham International Holdings, has been delayed for a fourth time.   It is now hoped to present the results for the year to 2011 by the end of July and the annual report by mid-August.

This could throw the club’s plans into turmoil, regardless of whether they succeed in winning promotion to the Premier League through the play offs.  The transfer embargo imposed by the Football League over its concerns about the parent company’s finances could well be extended.

Crewe model faces challenges

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Crewe Alexandria have relied heavily on a successful model of selling on Academy graduates they have developed to other clubs, but changes in the youth development system now threaten that way of keeping the club going.

Good profit at Leeds but still some concerns

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Leeds United have seen big increases in turnover, gate receipts and central distribution payments from the Football League since their promotion from League One in 2010.   They have recorded an operating profit of £939,00 and a total profit of £3.5m in the 2010-11 financial year.

Boost for Southampton

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With promotion to the Premiership in their sights, Southampton have received a big financial boost with the news that £33m of loans invested in the club by the estate of former owner Markus Liebherr will not have to be paid back.   The money has now been converted into shares, removing it as a liability.


The accounts show that the club made a net loss of £11.5m winning promotion from League One last season.   Total revenue excluding transfers rose by 11 per cent to £16.4m and group wages made up 93 per cent of turnover.

Boro post big financial loss

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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.

Big turnover rise at Newcastle

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Newcastle United have reported a 69 per cent rise in turnover for the 2010/11 season from £53.4m to £88.4m.  Much of that increase came from a threefold rise in television revenues, with corporate hospitality sales also up.


The operating loss was £3.9m for the year ended June 2011 in comparison to a £33.5m loss the year before and moves the club close to a break even position ahead of Uefa’s financial fair play rules being introduced.