Vital Football

Latest Swansea City News

Promotion Costs Swansea City £8.2m

Promotion Costs Swansea City £8.2m

Swansea City made a loss of £8.2million for the 2010/2011 financial year.

The Swans are a club run on a strict financial budget, but the loss of £8.2m will easily be paid back and more thanks to promotion to the Premier League.

The losses included the costs of player and management bonuses, transfer and loan fees and compensation to clubs relegated from the Championship.

It's been well documented that promotion to the Premier League is worth around £90m with the money spread out of a number of years.

A club statement explained the reasons for the loss:

'While the accounts reveal an overall loss after tax of £8.2 million, which was consequently unavoidable after our Wembley win, the large amount of income generated in the Premier League has subsequently enabled these liabilities to be adequately met in the current financial year.

'The accounts for the current financial year ending May 31, 2012, will be adversely affected by an increase in operating costs, particularly payroll, but our resolve is to realise sufficient profit to counter the 2010/11 loss, and our operating budgets are structured to make this happen.

'With regard to the future, our immediate goal is to consolidate our position in the Premier League and ensure we survive this season.

Our long-term goal will cater for Swansea City remaining as a top flight club and to continue to contribute in part to the feel-good factor and prosperity in the local community.

'We will not, however, do this in any way that puts the club's financial stability at risk. This remains paramount in our management philosophy.'



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

Writer:VitalSwansea
Date:Tuesday January 24 2012
Time: 10:32PM

Comments

0
compensation to clubs relegated from the Championship? wait, what? Swansea actually has to pay the relegated clubs from its own pocket? strange rule, this.
dazzwater
25/01/2012 00:57:00
0
My club Stockport can do with some extra funds how are you fixed Swansea?
Mazarron Albert
25/01/2012 12:38:00
Page 1/1
  1. 1

Login to post a comment

Best of Vital Network

Vital Boxing - Selby Wants Frampton Next

Recent Swansea City Articles

Rate The Players: Swansea City 0-4 Arsenal

Rate the players' performances in the 4-0 home defeat against Arsenal.

Clement: We Lacked Quality In Attacking Third

Swansea City head coach Paul Clement said his side lacked quality in the attacking third as he 'expected better' against Arsenal

Stats: Swansea City v Arsenal

All the stats from Swansea City (0) vs (4) Arsenal, Liberty Stadium, 14th January 2017 Att: 20,875

Team Line-Ups: Swansea City vs Arsenal

Confirmed team line-ups as Swansea City host Arsenal at the Liberty Stadium

Archived Vital Swansea City Articles

Vital Swansea City articles from

Site Journalists

VitalSwansea
Editor email
Profile

Current Poll (see more polls)

Vote for your man of the match vs Arsenal
Suggested By:
Fabianski10%
Naughton0%
Fernandez9%
Mawson27%
Naughton0%
Ki45%
Cork0%
Sigurdsson3%
Routledge0%
Dyer6%
Llorente0%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
1 Chelsea 21 17 1 3 52 30
2 Spurs 21 13 6 2 45 29
3 Liverpool 21 13 6 2 45 25
4 Arsenal 21 13 5 3 44 26
5 Man City 21 13 3 5 42 15
6 Man Utd 21 11 7 3 40 12
7 Everton 21 9 6 6 33 9
8 WBA 21 8 5 8 29 0
9 Stoke 21 7 6 8 27 -6
10 Burnley 21 8 2 11 26 -8
11 AFC Bournemouth 21 7 4 10 25 -7
12 West Ham 21 7 4 10 25 -9
13 Southampton 21 6 6 9 24 -7
14 Watford 21 6 5 10 23 -13
15 Leicester City 21 5 6 10 21 -10
16 Middlesbrough 21 4 8 9 20 -5
17 Crystal Palace 21 4 4 13 16 -10
18 Hull City 21 4 4 13 16 -25
19 Sunderland 21 4 3 14 15 -20
20 Swansea 21 4 3 14 15 -26
The Vital Football Members League
Latest F1 News
Latest Vital Boxing News
Vital Football Comment

Recent Swansea City Results (view all)

Swansea City Fixtures (view all)

Jan 21 2017 12:30PM : Liverpool (a)
Barclays Premier League
Jan 31 2017 7:45PM : Southampton (H)
Barclays Premier League
Feb 5 2017 1:30PM : Manchester City (a)
Barclays Premier League
Feb 12 2017 4:00PM : Leicester City (H)
Barclays Premier League
Feb 25 2017 3:00PM : Chelsea (a)
Barclays Premier League
Mar 4 2017 3:00PM : Burnley (H)
Barclays Premier League

Vital Members League Table

RankNamePoints
1.Dennis Downing11
2.Phil W5
3.KevinE3
4.yugo232
5.forest fan2
6.williams1
7.adihanbury156@msn.co1
Write for Vital Football