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Articles on football club company financial results – interim or full-year.
The contribution of the Champions Leage to club finances is underlined by the way in which participation has pushed Spurs back into profit. The club made pre-tax profits of £4.2m in the last six months of 2010, up from a loss of £8.3m over the same period the previous year. Turnover was up 49 per cent to £79m.
Fulham FC’s losses increased from £7.9m to £19m in the year ended June 2010. This was in spite of earning an extra £12.5m from their run to the Europa League final. Turnover was boosted to £76.4m, but write downs and amortisation from player trading boosted losses.
Wigan Athletic’s ascent to the top flight has been a rapid one. In 1995 they were still in the fourth tier. They have not been able to build a strong support base. Despite having the cheapest tickets in the Barclays Premier League, their attendances are the second lowest, behind Blackpool. The town has a strong rugby league tradition and it’s possible that some football fans support Manchester clubs.
Swansea City made a profit of £593,901 in the year ending 31 May 2010. This compared with a net loss of £457,020 in the previous year. Turnover increased by £770,000 but operating expenditure increased by £3.2m reflecting the cost of investing in a squad able to challenge for the Premiership.
Arsenal announced an interim loss of £2.5m for the six months to the end of November 2010. The club is in good financial shape overall, but what worries fans following the Carling Cup defeat to Birmingham City is that its prudent financial policy is getting in the way of success on the pitch.
Manchester United’s owners have denied rumours of a takeover deal in a statement issued alongside the latest financial results. They said that ‘no discussions’ with buyers had taken place and that they would not entertain any offers. Last week Qatar Holdings, the investment vehicle of the country’s royal family, denied it had plans to launch a bid.
The financial benefits of being in the Premiership are evident in the latest set of financial results from Wolves. The club recorded a profit of £9.1m in contrast to a big loss of £4.9m last year. Turnover more than trebled from £18,3m in the Championship to £60.6m. Additional revenue was obtained from the sponsorship agreement with sportingbet.com and higher ticket revenue from average attendances which rose from 24,153 to 2
Money is ‘tight’ at Everton, but the club has denied that it is in financial meltdown. The club’s latest accounts show a pre-tax loss of £3.1m brought about mainly by an escalating debt and wage bill. Almost 85p in every pound goes towards financing the wage bill, first-team squad, academy, coaching staff, medical support and scouting network.
Chelsea’s future participation in the Champions League looks increasingly at risk after the club announced increasing losses of £70.9m for the financial year ending June 2010. Moreover, after a period of restrained transfer expenditure, the club has splashed out on Fernando Torres. Of course, it could be argued that, given Champions League qualification is worth between £25m and £40m a year, Torres might well eventually pay for himself.
Forfar Athletic made an operating loss of just under £36,000 in the year ended 31 May 2010. On a turnover of £261,417, this represents a loss of nearly 14 per cent.