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

Recent Swansea City Articles

Are Players Set For A Football Exit?

With the country narrowly voting to leave the European Union in Thursday's Referendum, there are certainly plenty of real questions that have to be addressed in terms...

Opinions from Holland on Mike van der Hoorn

Some quick and brief opinions on Mike van der Hoorn, the Ajax defender that we look set to sign for around £2m

Swansea City & QPR Agree £4.75m Fee For Fer

Swansea City move a step closer to keeping Leroy Fer after agreeing a £4.75m fee with QPR for the midfielder

van der Hoorn: 'I'm Joining a Wonderful Club'

Ajax defender Mike van der Hoorn has told Dutch press that he is set to join Swansea City

Archived Vital Swansea City Articles

Vital Swansea City articles from

Site Journalists

VitalSwansea
Editor email
Profile

Current Poll (see more polls)

Suggested By:
Taylor first choice, Kingsley backup14%
Taylor first choice, new signing as backup1%
Kingsley first choice, Taylor as backup64%
Kingsley first choice, new signing as backup11%
new signing first choice, Kingsley as backup8%
something else2%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
C Leicester City 38 23 12 3 81 32
2 Arsenal 38 20 11 7 71 29
3 Spurs 38 19 13 6 70 34
4 Man City 38 19 9 10 66 30
5 Man Utd 38 19 9 10 66 14
6 Southampton 38 18 9 11 63 18
7 West Ham 38 16 14 8 62 14
8 Liverpool 38 16 12 10 60 13
9 Stoke 38 14 9 15 51 -14
10 Chelsea 38 12 14 12 50 6
11 Everton 38 11 14 13 47 4
12 Swansea 38 12 11 15 47 -10
13 Watford 38 12 9 17 45 -10
14 WBA 38 10 13 15 43 -14
15 Crystal Palace 38 11 9 18 42 -12
16 AFC Bournemouth 38 11 9 18 42 -22
17 Sunderland 38 9 12 17 39 -14
R Newcastle 38 9 10 19 37 -21
R Norwich 38 9 7 22 34 -28
R Aston Villa 38 3 8 27 17 -49
Latest F1 News
Latest Vital Boxing News

Recent Swansea City Results (view all)

Swansea City Fixtures (view all)

Vital Members League Table

RankNamePoints
1.Vital Swansea City1
2.Phil W1
3.Andyjack781