Sunderland takes loss to gain promotion

In its effort to get back to the English Premier League, Sunderland suffered a pre-tax loss of GBP 15.4 million last season.

While being relegated the previous season, the club managed a GBP 7.5 million pre-tax profit. The club, controlled since July 2006 by Niall Quinn's Drumaville consortium, did make it back to the top league after investing heavily in an effort to do so.

The club's turnover fell from GBP 13 million to GBP 26.3 million in the course of a year, something club officials said was due to playing in the Championship instead of the Premier League.

Wage costs increased by GBP 6.3 million to GBP 23.7 million. The Stadium of Light was valued at almost GBP 90 million, while the net book value of the players was set at GBP 23 million. The club also generated GBP 9 million in gate receipts and a further GBP 4.1 million in sponsorship and royalties.

Since gaining promotion to the Premier League, Sunderland has spent almost GBP 40 million on new players.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.