Skip to main content

"If you want some accessible but informative insight into football then I suggest you couldn't do better than the Political Economy of Football website, which is not only intelligible but comes with the added bonus of being written by Addicks fan Wyn Grant."
Ben Hayes - Charlton Athletic programme

Financial Results


QPR report substantially reduced losses

QPR have reported substantially reduced losses for the last financial year.   They are down to £9.8m in contrast to a massive £65.4m in the year ending May 2013.  Expenditure is down £22m, largely due to lower player costs.   Shareholders have also written off £60m in loans.

The club has faced difficulties over compliance with financial fair play rules, but these results should help their position.  

How to balance the books

I have been looking at the accounts for a tier two Conference club.   The shareholders are supporters and the shares are quite widely dispersed, although there are five or so individuals who have larger holdings.

The club reported profits of £52,000 on a turnover of £267,000 in the year ending 30 June.   This compared with £21,000 in the previous twelve months.

Big losses at Charlton Athletic FC

In many ways Charlton Athletic are typical of many Championship football clubs whose financial problems for at least five years could be solved by just one year in the Premier League. In the meantime, the club continues to make substantial losses of over £7m a year. It is difficult to see how this can be sustained, given that owner Roland Duchatelet thinks that clubs should move to a break even position.

Baggies could be for sale

West Bromwich Albion could be for sale to the right buyer.   The club is believed to have sounded out contacts in the City after the announcement of the new £5 billion Premier League television deal.  Jeremy Peace is the dominant shareholder at The Hawthorns and has been in charge for 13 years.

The club is in good financial health and is currently the top club in the West Midlands in terms of its position in the table.   Pre-tax profits of £14.7m have been reported in the year ending June 2014 on sales of £86.8m.

Big deficit at Corinthians

Sao Paolo's Corinthians have seen a surplus of €330,000 in the preceding year turn into a deficit of €29.9m in the 2014 financial year.   The main factors appear to have been stadium construction costs and a big tax bill.

Debt up at Blackburn Rovers

Net debt at Blackburn Rovers is up to £79.8m from £54.5m as the club struggles to comply with financial fair play rules.   £56.8m of the debt takes the form of an interest free loan from owners Venky's.

The club lost £42.1m, although all sorts of adjustments appear to have been made to the accounts. Turnover was up from £26.9m to £30.4m with media income up by £4.2m.

Dundee United in profit - again

It is not that often that a football club records a profit, and even remarkable when they achieve in four of the last five years.   But that is what Dundee United have done with a profit of £1.218m in the year to June 2014.  These figures do not take into account millions made in the transfer market over the summer.

Lower league football finances in Scotland

The financial realities of lower league football in Scotland are demonstrated by the latest accounts of Berwick Rangers.   Staff were paid on average £143 a week compared with £8,000 at Rangers.

Their last home game saw an attendance that was 10 per cent of capacity.   The club is reliant on a good cup run to keep its finances balanced.

Fiscal chaos at Leeds United FC

The accounts of Leeds United FC are in chaos according to this report.   Income last year was down from £28.6m to £25.3m with reductions in all aspects of income including match day and commercial.

As a result there was a £20.4m loss which becomes £22.8m post tax.   This means that the club is very likely to incur a transfer ban under the Football League's financial fair play rules.

'Financial sustainability' at Manchester City

Manchester City have claimed that they have achieved 'financial sustainability' after reporting much reduced losses of £23m for 2013-14.   That figure includes the £16m financial fair play penalty deducted from Champions League payments due to the club.   If it had not been this deduction, the club would have been close to break even.   They expect to break even next year.   In 2011-12 and 2012-13 they made losses of £148.5m.