Business Directory

Browse the Directory

Sign Up to the Directory

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

Sunderland AFC post losses of £27.9m

Wed 16th Feb 2011 | Money & Finance

Sunderland AFC have announced a substantial financial loss before tax, according to their latest account released this week.

The North East club posted losses of £27.9m for the year ending July 2010, a rise of £1.4m on the previous year.

However, turnover increased from £64.6m to £65.4m but the club's investment in the playing squad pushed them further into the red.

Despite the losses, the club is expected to continue to invest in the playing squad in order to maintain a lucrative position in the top flight and offset expenditure on transfers and wages, with the latter having risen by over £2m to more than £46m per year.

The report states: “The directors consider the major risk of the business to be a significant period of absence from the FA Premier League.

“Ongoing investment in the playing squad aims to reduce this risk.”

It’s understood that owner Ellis Short has stumped up interest-free loans amounting to more than £28m and has pledged his long-term support.

Niall Quinn, Sunderland’s chairman, hit out at fans staying away from the Stadium of Light in favour of watching live games in local pubs using foreign decoders. He warned that the reduced attendances at the ground were having a negative affect on the club’s ability to perform at the highest level.






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


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

Related Articles

Shrewsbury Town’s Safe Standing Crowdfunding Campaign Success

Tue 17th Oct 2017 | Money & Finance

In an historic achievement, Shrewsbury Town Football Club are one step closer to being the first club in England and Wales to introduce safe standing at their Montgomery Waters Meadow stadium,...

Average Premier League Ticket Costs £32

Fri 13th Oct 2017 | Money & Finance

The average price of watching a Premier League match costs £32 according to research released today. The Premier League, working with professional services company EY, has conducted in-depth...

FC Barcelona to become world’s top earning sports club

Thu 12th Oct 2017 | Money & Finance

FC Barcelona announced on Wednesday the financial reports that it will present at the Club’s Ordinary General Assembly on 21 October, when it will share the annual report with member delegates...

Premier League clubs must sell over 2 million tickets to earn back total transfer spend this season

Thu 5th Oct 2017 | Money & Finance

Each year, the summer transfer window is the most highly awaited time of year for football fans, and clubs alike. It's an opportunity to sign top-quality players to heighten the club's chances of...