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

Mats Hummels Joins Juan Mata For Common Goal

Thu 17th Aug 2017 | Money & Finance

Bayern Munich and Manchester United stars unite behind Common Goal #CommonGoal World Cup winner and Bayern Munich player Mats Hummels has become the second footballer to join Common Goal , pledging 1%...

Aldershot Town Gets Financial Support From Council

Tue 15th Aug 2017 | Money & Finance

Aldershot Town Football Club has confirmed that Rushmoor Borough Council has agreed to a package of financial support for the club, including rent and rates relief, until 2021. Following on-field...

Chinese debts emphasize need for local players’ association

Thu 27th Jul 2017 | Money & Finance

FIFPro is ready to offer assistance to professional footballers in China and other parts of the world where local player associations do not yet exist. Media reports this week revealed several Chinese...

SPFL: No fresh tax scheme sanctions against Rangers

Wed 26th Jul 2017 | Money & Finance

The SPFL Board today announced, following legal advice from eminent Senior Counsel, Gerry Moynihan Q.C., that there will be no further disciplinary proceedings taken by the SPFL connected with the use...