Manchester City lose £121m in one year
Manchester City have lost £121m in one year, the second biggest loss in Premier League history. They spent more on wages than their entire income, £133m compared with £125m.
Article Taxonomy: Financial Results
Articles on football club company financial results – interim or full-year.
Arsenal posts record profits
Arsenal has announced record profits of £56m before tax. Turnover is up to £379.9m. This record of financial success contrasts with the situation at Liverpool and Manchester United, but it is largely due to the club’s property business. The football business just covers its costs.
Good figures from Rangers
Rangers produced some good financial results for the year to June 2010 but they were highly reliant on participation in the group stages of the Champions League. Turnover was up 42 per cent to £56.3m and profits were up.
Profits up at Real Madrid
Real Madrid claimed to have the highest revenues of any sports institution in the world after they announced that the club’s net profit for the 2009-10 season jumped 11.5 per cent from the year before. Despite spending more than €250m on new players the club reported annual profits of €24m, up from €21.5m a year before.
6th year of profit for Hibs
Although they made a profit of only £100,000, and made an operating loss of £2.3m, Hibernian have recorded their sixth consecutive year of profits. That’s a remarkable achievement in the contemporary world of football finance.
Celtic drift into the red
Celtic’s preliminary accounts showed that they have drifted into the red, but part of the problem relates to the change of the managerial team. Tony Mowbray is believed to be still drawing a salary, and there are £3.4m in ‘exceptional expenses’ in unidentified costs.
£6m loss at Leicester
Leicester City have reported losses of £6.2m for the financial year to 31 May 2009. Admittedly, the club lost more than £14m in the same period in 2007/8 and won promotion back to the Championship by winning League 1 in 2008/9. Chairman Milan Mandaric cited reduced television revenue in League 1 as a big reason for their losses.
Hearts debt is up
Debt at Hearts was up £5m to £35m in the year ending 31 July 2009. However, the club’s reaction appears to be relatively relaxed and £3m of savings saw operating losses cut from £11m to £8m. The ultimate owners, Ukio Bannas Investment Group, are planning another debt for equity sawp.
Chelsea’s wage bill highest in football history
Things are going well on the pitch for Chelsea, but aspects of their financial situation give some cause for concern. Their wage bill for the year ending 30 June 2009 was £142.6m, the highest such figure in English football history. The club has also paid £35.7m in compensation to coaches whose contracts have been terminated in the last two years.
Spurs record big drop in transfer profits
Spurs may be doing well on the pitch, but they recorded a big drop in player transfer profits in their results for the six months to 31 December 2009. They fell to £9.4m from £53.4m the previous year when significant gains were made from the sales of Dimitar Berbatov and Robbie Keane. Revenue for the period was slightly lower at £53.5m (2008 interim £54.8m). Profit from operations was steady at £4.9m.