Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Swansea To Post Profit of £14.6m

Tue 16th Oct 2012 | Money & Finance

The club is expected to release its full accounts for the year ending May 31, 2012, which reflects the club’s successful first season in the Premier  League with a 11th place finish. 

The Directors review of the business is set to reveal a turnover of £65.2 million, which aptly demonstrates the reward of achieving Premier League status, and a net profit after taxation of £14.6 million, despite operating costs, particularly wages, being double those of the previous year. 

Swansea’s net profit was boosted by a £5million settlement received from Liverpool for the loss of management staff, counteracting the net loss of £8.3 million incurred as a result of the cost of the promotion push in the previous financial year. 

The directors are expected to reiterate their resolve to continue to manage budgets which should produce a level of profit capable of generating sufficient cash to fund future growth and capital investment plans. 

While the extent and timing of a capital investment programme relies heavily on the club’s ability to remain in the Premier League, some progress has already been made with work underway on the £2.5 million Landore training ground development and the creation of a partnership with Swansea University which involves the acquisition of a long-term lease of the playing fields at Fairwood, which is expected to provide a first class training complex befitting a Premier League club. 

Plans to increase the capacity of the Liberty Stadium are already being discussed with the idea of a phased development over a two-year period when the timing is right.  

Posted by: Aaron Gourley

---------------------------------------------------------------------------------------------------

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

 

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

How Football Clubs Source Their Revenue

Thu 22nd Jun 2017 | Money & Finance

It will come as a surprise to no one that football is big business these days. Although players’ wages – especially at the top teams – have increased remarkably, the clubs can pay...

“Why Does Your Club Offer Discounts?” 5 Responses

Tue 6th Jun 2017 | Money & Finance

Following my article last week on the 3 observations about discounts offered on football clubs’ merchandise stores ; I wanted to share some more insight in to the merchandise space. I’ve...

West Ham United announce record season ticket renewals

Thu 1st Jun 2017 | Money & Finance

West Ham United have announced a club record number of season ticket renewals for the 2017/18 Premier League campaign. At Wednesday's 5pm deadline, over 90% of the 52,000 season ticket holders at...

Footballers, their cars, and how many minutes of play it takes to pay for them

Thu 1st Jun 2017 | Money & Finance

Online used car dealership Carspring have researched the vehicles driven by more than 250 of the world’s leading football players. With this information, along with the estimated salaries of...