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Money, money, money..

Money, money, money..

The club's annual accounts for 2006 have now been published, revealing an increase in commercial revenues. This led Sheffield Wednesday to make a profit before interest and taxation last season.

The official site reveals: 'The Owls' profit before interest and tax of £389,000 compared to a loss of £1.11 million in 2005; the headline loss before transfers was £180,000, compared to that of £2.52 million the previous year. Indebtedness to the bank was reduced to £22.23 million, while directors' loan notes remained unchanged at £4.35 million.'

The results are due to the 20 per cent increase in turnover now the Owls play in the Championship: club commercial revenues are up by nearly a quarter. Match receipts rose by over 7 per cent to more than £5m.

So.. play in a more prestigious division and get more from the fans and the club is better off: perhaps no real surprise there.

More from the offcial site - 'In his annual statement to shareholders, SWFC chairman Dave Allen said: 'After some difficult years following relegation from the Premiership, at last we are on an even keel and trading successfully. The annual accounts show the excellent progress made by the company over the year to 31st May 2006. Both on and off the field of play we achieved our aims - to consolidate our place in the Championship and achieve a break-even budget.'

Mr Allen also revealed that he and finance director Bob Grierson held talks with three groups of 'would-be investors in the club' in the last financial year. But he added that no such investor is likely to develop their interest until 51 per cent of the club's shares are available to them.'

The annual report and accounts of course show (and unsurprisingly reports make comment on the fact) that Mr Allen gifted the club £69,834 during the year, this sum covering the loans of Scott Carson and Mikkel Bischoff.

So.. gently throttling back the cash available for the team improves the figures at the expense of league position? Talk about it on our forum!


Click here to join in the debate on the club forum.

Writer:Nick
Date:Tuesday October 10 2006
Time: 9:00PM

Comments

0
Not bad figures lets just hope you dont get relegated otherwise it will get bad!
jono_forest
10/10/2006 21:27:00
0
problem though is you did not really strengthen the squad during this period , what happens when you starting buying players again ??
dazednconfuzed
16/10/2006 14:13:00
0
Hmm.. this 'buying players' thing of which you speak.. remind me what that is, exactly? :-)
Auckland Owl
17/10/2006 05:19:00
0
The figures show that we are just slipping into an medicore middle of the road club with no ambition anymore. The crowds will drop, the income will get less and less, and the club will die. Show some balls now, and back the team Mr Allen, and lets get 30,000 in every week supporting a winning team
haxeyowl
17/10/2006 11:52:00
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