Mixed financial position at Leeds
The financial position at Leeds United has stabilised compared to the disastrous stewardship of Gulf Financial Holdings, but many underlying problems remain.
Article Taxonomy: Financial Results
Articles on football club company financial results – interim or full-year.
Record pre-tax profits at Leicester
As well as topping the Premier League, Leicester City have recorded record pre-tax profits for the year ending 31 May 2015. Profits were £26.8m compared with a loss of £20.8m in the previous year. Income was up to £104.4m from £31.2m.
With the return to the Premier League, income went up from £31.2m to £104.4m. The King Power stadium was largely sold out at 98.5 per cent of capacity with match day receipts up from £6.9m to £10.6m.
Small loss at Arsenal
Arsenal recorded a small loss of £3.4m in the six months to 30 November, compared with a profit of £6.2m in the same period the preceding year. The difference is largely explained in terms of income from player transfers.
Turnover was up from £148.5m to £158.4m. The club has a war chest of over £159m should it need to draw on it.
Notts County up for sale
Ray Trew has stepped down as chairman of Notts County and has announced the club is for sale. He became owner and chairman in 2010 but said he and his family were subject to ‘foul and mindless abuse’ in recent days.
Trew bought the club for £1 and took in debts of £1.5m built up during Middle East consortium Munto Finance’s brief period as owners. The Magpies have had nine full-time managers during Trew’s tenure.
Whether there will be any buyers for the club remains to be seen.
Manchester United stride ahead financially
Despite disappointment on the pitch, Manchester United are striding ahead financially. They are on track to become the first English club to earn £500m in a year.
Their second quarter figures for the period ending 31 December 2015 show that revenue was up by 26.6 per cent to £133.8m. Commercial revenue was up a staggering 42.5 per cent to £66.1m, driven by the lucrative new deal with adidas.
Bundesliga continues to thrive
The German Bundesliga continues to thrive, reporting record financial results for the 11th year in a row. With a reputation for reasonable ticket prices, the league reported a seventh year of record revenues, up 7 per cent at €2,6bn.
Profits increased to €51m, up by 31 per cent.
Wigan make loss
Wigan Athletic made a loss of £3.9m in 2014-15, their first loss in four years. In the previous year they made a profit of £2.6m. Turnover fell from £37m to £28m. One factor was a reduction in Premier League parachute payments. The club’s net debt now stands at £13.3m.
Spending money by the sea
The author of the Swiss Ramble blog has turned his attention to Brighton and Hove Albion and provides a fascinating and in depth financial portrait of the club.
Like virtually all Championship clubs, the Seagulls lose money big time and are reliant on funding by their owners. Some owners are more generous than others and there is no doubt that Tony Bloom has pumped huge sums into the club.
Brighton make big losses
The difficulties of competing effectively in the Championship without parachute payments are shown by the accounts of league leaders Brighton and Hove Albion for the 2014-5 season. They reported losses of £10.44m.
The club finished 20th last season which helps to explain why turnover declined by £300k to £23.7m. Operational efficiencies helped to hold down administrative costs, but footballing costs were up and represented 100 per cent of turnover, twice the recommended level.
Big losses at Forest Green Rovers
Forest Green Rovers racked up losses of £2.9m last year and have accumulated debts of £5.4m. They are bankrolled by their wealthy green industrialist owner, Dale Vince, formerly a New Age traveller. The players are forbidden to eat red meat and red meat products are banned at the ground which means that high quality veggie burgers are on offer.