Blades make £6.2m Loss

All advertisments are hidden for logged in members, why not log in/register?

silverfox

Well-Known Member
Joined
Aug 5, 2005
Messages
15,635
Reaction score
2,571
Location
Next door
Soaring wages and bonus payments at newly-promoted Sheffield United have pushed the club more than £6m into the red, its annual results reveal.

The club made an operating loss of £6.2m for the year to 30 June, compared with a profit of £0.6m the year before.

The wage bill rose by £3.3m and the club forked out Premiership promotion bonus payments of £2.3m.

But it said it would benefit from a significant increase in TV revenue and sponsorship in the coming year.

Club chairman Kevin McCabe said: "In simple terms, we paid significant transfer fees for quality new players either prior to or during the Championship season.

"These players in turn increased the annual football wage bill to a level in excess of what otherwise could normally be afforded.

"Additionally, bonus payments to the management team and playing squad earned as a result of promotion amounted to £2.3m.

"The strategy succeeded and this year sees a major increase of revenue forthcoming from the lucrative broadcasting contracts that benefit clubs in the Premiership.

"Thus, I trust shareholders will accept that the benefits of Sheffield United FC achieving promotion outweigh the high annual loss for the year under review."

More info here.......http://www.mysporttoday.co.uk/ViewA...eID=1839902&sitecode=shef&sportcode=sheffuntd
 

So much for balencing the books then. lol

Take it we are gonna be even buggered again money wise if we dont stay up ?
 
Bladesman said:
Take it we are gonna be even buggered again money wise if we dont stay up?

Well not really because these are last year's accounts. The accounts for this year will take into account the increased TV money, increased revenue from ticket sales and merchandise as well as some return on the investments mentioned in the release.

Like KM says, you've got to spend it to make money back on it.
 

All advertisments are hidden for logged in members, why not log in/register?

All advertisments are hidden for logged in members, why not log in/register?

Back
Top Bottom