UK time is: 10:33:32
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

3m More Turnover But 437,000 Loss

Swansea City have announced their figures for the financial year with an increase of turnover of 3m, but an annual loss of 437,000.

And for the seventh year running, the directors refuse to take a salary out of the club, which goes to show how strongly we are financially, compared to our rivals just up the road!

Chairman Huw Jenkins, along with the rest of the hard-working and dedicated directors, have seen and experienced the troubles of the early 00's, when we struggling with debt and the potential relegation from the Football League. They've learnt from these experiences to take massive care and attention to finances and how much money we can realistically spend on wages and transfer fees.

A loss of 457,002 for the year is far from a figure to be alert of. The club is nowhere near in debt and we'll need to spend a little to boost our chances of gaining success at this level. We could potentially improve that at the end of this season with the bonus money we get from Wigan Athletic, providing our former manager Roberto Martinez manages to keep them in the Premier League.

Huw Jenkins said:

"I think the accounts show we`re running the club as we have done since we arrived,"

"If you look at the accounts over a period of time, you can see we`ve made small profits and small losses, but we`ve managed to balance the two out.

"Two important things to take into consideration is the accounts cover all expenditure from those 12 months, nothing is spread out, and that we do not include any asset value to our squad.

"It was natural turnover was going to go up going into the Championship, just as it was natural we were going to get an increase in wages going up a division.

"As always, we have tried to stick to within our income levels while staying competitive. It is a difficult job balancing the two but we`ve managed to do that over the last few years and we will be doing our best to make sure that continues."




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



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

The Journalist

Writer: KevinE Mail feedback, articles or suggestions

Date:Thursday March 11 2010

Time: 7:45PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Swansea City Articles

Archived Swansea City Articles

List All Vital Swansea City Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
14. Southampton 0 0 0 0 0 0
15. Spurs 0 0 0 0 0 0
16. Stoke 0 0 0 0 0 0
17. Sunderland 0 0 0 0 0 0
18. Swansea 0 0 0 0 0 0
19. WBA 0 0 0 0 0 0
20. West Ham 0 0 0 0 0 0

Breaking League News

Negredo Replacement Targeted
Man City : 23/07/2014 09:24:00
Youngster Exits And Youngsters Exit!
Man City : 23/07/2014 09:22:00
The Schneiderlin Conundrum!
Spurs : 23/07/2014 09:06:00
Former Man Utd target set to join Everton
Everton : 23/07/2014 09:00:00
New Defensive Option
Hull City : 23/07/2014 08:59:00

Current Site Poll (view all polls)

Would you like to see the return of Gylfi Sigurdsson?
Suggested By:  
Yes 91%
No 9%