Wednesday, March 26, 2014

Boro record loss of £14m for last financial year - up £4m on the previous 12-month period


Wage bill was reduced to £18.5m but remains one of division's largest :: Club face challenge in balancing books under new Financial Fair Play rules




Boro have posted a loss of £14m for the last financial year - a hefty £4m increase.


The deficit, for the year to the end of June 2013, shows a loss of revenues across the board as the club have struggled in mid-table in the Championship.


The figures for the Middlesbrough Football and Athletic Company (1986) Ltd, lodged at Companies House, show a continued drift in financial performance.


The loss for the year was £13,934,000 - a marked increase from the £10,048,000 the previous year.


The club also reported a £14m loss in March 2012.


Boro actually reported an operating loss of £22m but that was offset by transfer income of £3.7m and tax credits of £4.5m.


The club's turnover was reduced from £18.15m to £14.21m in the reporting period.


The main loss came in TV broadcasting rights income which fell from £7.42m to £4.22m while merchandising income fell from £1.4m to £1.2m.


The club wage bill was reduced slightly.


The cost of 44 players and 104 other staff came down by £700,000 but remains one of the highest in the division at £18.5m.


The club are allowed to lose up to £8m under the new Financial Fair Play rules in the Championship which began at the start of the the current season, leaving the club with a significant challenge to balance the books in the summer.


More to follow



No comments:

Post a Comment