Income from transfer fees, or additional payments from previous player sales received in the 12 months, was only slightly up to from Joe Garner ( after payments to Blackburn Rovers and Garner), Simon Hackney ( Glenn Murray ( Nike Air More Uptempo 2016 Retail Price
First published at 11:34, Wednesday, 30 September 2009Part of the loss is attributed to the payment made to John Ward when his contract was terminated because of his failure. This is variously described as 'a massive pay off' and an 'undisclosed sum'. In the interests of transparency and in the circumstance of this worrying shortfall, should not the details of his golden hanshake be clarified? It may be embarrassing to the club (the use of the word massive gives a clue to this) but at least we would be in a better position to understand the likelihood of there being more encouraging results this year.
money is tight after what has been a difficult year, but we are extremely optimistic about the future on and off the pitch. published details of their latest accounts less than an hour before Greg Abbott's team faced Adidas Prophere Cq3022
Brunton Park bosses blamed United's collapse in form Nike Vapormax Laceless On Feet on the pitch, the recession, rising wages and the massive pay off to former manager John Ward for the damaging loss.
That is the loss the club made in the latest financial year, according to figures released by the Blues last night.
He said: the start of the last financial year, the club was geared up financially on and off the pitch for the challenge of gaining promotion to the Championship. However, after a bright start to that campaign, there was a sudden and dramatic reversal in fortunes on the pitch under the leadership of John Ward.
are confident the club can now move forward financially and avoid the sort of serious problems facing an increasing number of football clubs.
had a deeply damaging impact on the club's finances, both from declining attendances and from John's pay off. The turbulence also saw no fewer than 11 loan players signed last season, which saw our costs rise by in that department alone.
Crowds were down 20 per cent from 7,835 in 2007/08 to 6,267 last season, resulting in a fall in match day ticket income of club also missed out on extra match receipts from reaching the League One play offs the previous season. Shop sales were down from to with total non football income dropping by cost of signing 11 loan players last term as United fought for their lives in League One has been revealed to be while the income from player sales included an instalment of just from Keiren Westwood's move to Coventry, a deal which could eventually be worth to the Blues.
can assure fans that the club is not facing any major threat because of its finances, said Allen.
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Allen described the figures as disappointing but said the club was now recovering.
The loss, for the financial year up to June 30, includes a drop in income of over the previous 12 months, from million to million.
Leeds United at Elland Road.
The accounts also included a drop from the previous year's figures, which had included that sum as the value of the club's floodplain land as income under exceptional items after a court ruling against the club and its former owner Fred Story.
Expenditure rose by more than with wages up to million, and the year also saw an undisclosed sum paid to Ward after his departure last November just over a year into his four year contract as manager.
But chief executive David Allen insisted that cost cutting measures introduced since the end of the 2008/09 season mean the club has ridden the storm and was not in any financial danger.
playing budget has been cut and we have revised our expenditure right across the board and introduced tighter and more frequent financial controls. Having taken these steps, we Nike Total Uptempo Max
after a long, hard fight against relegation, the club managed to retain its place in League One and since then we have taken some very tough financial decisions to avoid running up these kind of losses again.
and Keiren Westwood ( club also paid off from its debt to Story Construction, reducing this to million.
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