Date:Monday October 15 2012
Swansea City are set to announce a profit of £14.6m for the year ending May 2012, including £65.2m total income.
The finances confirms just how much promotion to the Premier League can benefit a club, with the figures above being completely mind-blowing if you just look back and consider where Swansea City were a decade ago.
The £14.6m profit also helps the club significantly following their £8.3m loss the previous financial year.
Around ten years ago, the club was bought for a mere one pound. Mike Lewis and then Tony Petty were going to kill the club before they were saved by Mel Nurse and the Supporters' Trust. Wages weren't being paid and we were facing relegation to non-league, but ten years on and we're paying thousands of pounds to each player in one of the world's best Leagues.
The official site also confirmed the club's plans for the future:
While the extent and timing of a capital investment program relies heavily on the club`s ability to remain in the Premier League, some progress has already been made. Work is well underway on the £2.5 million Landore training ground development and the creation of a partnership with Swansea University which involves the acquisition of a long-term lease of the playing fields at Fairwood, which will result in a first class training complex befitting a Premier League club.
Plans to increase the capacity of the Liberty Stadium are already being discussed with the idea of a phased development over a two-year period when the timing is right.
Date:Monday October 15 2012
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