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Articles on football club company financial results – interim or full-year.
There has been substantial progress in restoring the finances of Juventus reports the authoritative Swiss Rambler blog in a detailed analysis.
After a pre-tax loss of €10.9m last year, there was a small pre-tax profit of €0.1m. Admittedly, this then became a large post-tax loss because of a perverse Italian tax which penalises companies with high personnel costs which seems to be a disenctive to employment.
Leeds owner Massimo Cellinio has claimed that the next set of accounts for the club will show it close to breaking even. In the 2013/14, Leeds United recorded a loss of £23 miillion.
Manchester United have announced their financial results for the third quarter of the financial year. Commercial revenue was more than double matchday revenue in the first nine months of the financial year, leading Andy Green to comment on Twitter that Old Trafford is ‘really a backdrop for brands.’
The Guardian has produced a very useful and detailed summary of the finances of Premier League clubs with sources of income broken down by category. The figures are accompanied by a pithy and pertinent commentary on each club.
The auditing of the accounts of Leeds United are to be scrutinised by the Institute of Chartered Accountants for England and Wales over a potential conflict of interest.
The accounts were audited by a firm where one of the partners is a brother of Leeds United Andrew Umbers, although they were signed off by another partner.
Newcastle United’s full accounts have now been filed at Companies House and they show that £38.6m has been transferred into the club’s bank accounts as a cash flow sum, £4.5m of which was used to pay off an overdraft.
This news will reinforce criticisms that the club puts profit before ambition, having failed to sign a player in the January transfer window. Fans are planning a boycott of Sunday’s home game against Tottenham Hotspur.
The cost of relegation to League 2 is reflected in losses of £285,000 at Shrewsbury Town. Substantial losses are also anticipated this year as the club has spent to secure promotion.
Attendances did fall in League 2, but at an average attendance of 5,104 the club is ranked sixth in League Two. As the only senior club in Shropshire, it has a good catchment area to draw on.
As the Premier League returns to the black, Crystal Palace are the latest club to report a profit. They have managed to achieve 25 per cent pre-tax profits, £23m on turnover of £93.4m. They achieved a good profit in percentage terms in their last year in the Championship, £3.5m on a much smaller turnover of £14.5m or 24 per cent.
Their case illustrates how much the smaller clubs in the Premier League rely on broadcasting revenue which accounts for 81 per cent of their turnover.
The latest accounts from Rangers for the six months to December 31st contain both good and bad news. On the postive side, the operating loss was down by £800,000, largely reflecting the fact that costs were down £1 million. Revenue was stable at £13m, reflecting the fact that the alienated fans who had decided to stay away had already gone.
Newcastle United are the latest Premier League club to report a profit for the 2012-13 season, £18.7m up from £9,9m in the previous financial year. This is the fourth consecutive year in which the club has made a profit.
As far as fans are concerned, this profit has not been reflected on the pitch with a thin squad and insufficient acquistions of new players. The club is £129m in debt to owner Mike Ashley.