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Articles on football club company financial results – interim or full-year.
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.
In a statement accompanying the release of the accounts for Blackburn Rovers, owners Venky’s admit that the club would require ‘significant funding’ in the short term. Detailed cash flow statements have been prepared for the 18 months to June 2013.
Venky’s are expected to announce a £18.6m loss in their first year in charge at Blackburn Rovers. £13.8m went on transfers and agents’ fees and £4.8m was incurred in costs including pay offs to sacked manager Sam Allerdyce and other senior staff. The total payroll at the club is around £50m.
Everton’s debt mountain remains stable at £44.9m according to the accounts released yesterday for the year to 31 May. The club managed to boost turnover by 3.7 per cent but had an operating loss of £500,000 before player trading. Player sales amounted to some £15m leaving manager David Moyes to rely on free transfers and loan signings.
Any relegation is a financial challenge for a club, but dropping out of the Football League all together can be particularly alarming. Lincoln City FC are expected to post a £480,000 loss following their relegation.
Aberdeen: There is nothing specifically Scottish about the choice between reducing the size and quality of a squad and maintaining a league position. However, Scottish football faces broader financial problems and being in Scotland provides an opportunity to address them.
Sheffield United ran up a loss of £13.6m in the year to June 2011, a period which saw them relegated from the Championship to League 1, further blunting their earning potential. It has been a miserable period for the one time Premiership club which has admitted that mistakes have been made.
As expected Manchester City have reported a record loss for a Premiership club, an eye watering £194.9m. This easily beats the £141m loss recorded by Chelsea in 2005, the second year of Roman Abramovich’s ownership.
The costs of relegation are made clear by the £4m loss reported by Burnley after their first full year back in the Championship. In the year in the Premiership the club made a profit of £14.4m. Revenues fell 40 per cent from £45.4m to £27.4m
Tottenham Hotspur was the first big club to float its shares in 1983 and now they are latest club to delist, announcing plans to quit the Aim junior stock market. The club argued that its Aim-traded status was acting as an impediment to plans to raise money to build a new stadium.