Wigan Athletic has achieved something that is all too rare in football, a decent annual profit. Last year’s loss of £7.2m became a net profit of £4.3m in the year to the end of May.
This is their eighth year in the top flight and it is six years since they have made a profit. It should be noted, however, that they did gain £7.9m in profit from player sales. Nevertheless, the club is getting closer to a break even position.
Wigan Athletic has achieved something that is all too rare in football, a decent annual profit. Last year’s loss of £7.2m became a net profit of £4.3m in the year to the end of May.
This is their eighth year in the top flight and it is six years since they have made a profit. It should be noted, however, that they did gain £7.9m in profit from player sales. Nevertheless, the club is getting closer to a break even position.
It is encouraging that the wage bill fell from £39.9m to £37.7m. With turnover up from £50.5m to £52.6m, the wage bill represented 72 per cent of turnover, a fall from 79 per cent last year. It is still well above the 50 per cent figure recommended by Deloitte, but it is not unusual for a Premier League club.
Debt, which includes borrowings and loans from Wigan chairman Dave Whelan and his family, was cut to £20.5m from £72.2m, with £48m in borrowings converted into shares.