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

Wigan Post Profit Despite Tough Year

Thu 2nd Jan 2014 | Money & Finance

Wigan Athletic Football Club posted a net profit of £822,000 for the year ended 31 May 2013.

Covering 2012-13 season when they won the FA Cup then relegated from the Premier League in the same week, the figure was down on the £4.3m net profit reported in 2012, however, turnover increased to £56.4m compared to £52.6m in 2012. 

EBITDA (earnings before interest, tax, depreciation and amortisation of players) was £5.8m compared with £8.9m in the previous year. 

Chief Executive Jonathan Jackson commented, "The financial results are satisfactory against the backdrop of relegation from the Premier League and the memorable FA Cup success. By increasing turnover and controlling costs the Club is continuing to report a healthy position in respect of profitability and debt. 

"Our eighth year in the top division unfortunately saw us relegated after finishing in 18th position however the historic achievement of winning the FA Cup meant that the financial impact of relegation was softened in the year.

"The growth and success of Wigan Athletic would not have been possible without the continued financial support of Chairman, David Whelan who remains an enthusiastic and committed owner and is determined to help his club return to the Premier League as soon as possible. 

“However, it is essential that we remain financially sound to ensure that the long-term future of the club is secure and that the parachute payments receivable from the Premier League provide adequate protection from the significant reduction in broadcasting income and enable us to comply with recently introduced financial fair play regulations.”

Total expenses including salary costs and amortisation of player contracts increased to £62.7m from £55m in the previous year. Salary costs were the most significant expenditure and these increased to £43.7m compared to the previous year cost of £37.7m. 

During the year the Club invested £10.9m on new players whilst profit from the sale of players was £8.2m primarily due to the sale of Victor Moses to Chelsea. 

Debt at 31 May 2013 including bank borrowings and loans from Chairman David Whelan and his family remained similar to the previous year at £20.7m.

Image: Wigan Chairman Dave Whelan with the FA Cup Trophy. Action Images / Paul Currie

Posted by: Aaron Gourley

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

 

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...