Relegation dampens Millwall financial outlook

English Millwall took a financial hit, reporting larger losses than last season, and the club is not recommending a dividend this season.

Turnover was GBP 5.4 million as opposed to GBP 6.2 million the previous season. The club claimed the fall was as a result of its relegation to League One. That translated to fewer gate receipts, and lower matchday revenues.

The loss on ordinary activities, excluding player trading, was GBP 5.6 million as opposed to GBP 4.8 million two years ago.

Costs fell as players were purged with the exile to League One. Total wages to turnover were at 109 percent versus 104 last year. Administration costs rose to GBP 4.5 million from GBP 3.7 million.

The club is doing some things to turn it around. The pitch at the stadium is being redone and upgraded. The manager was let go last month, and Kenny Jackett appointed on 6 November.

Millwall also is investigating using catering and retail activities to improve business. The club has been advertising throughout London in order to push itself back into the public consciousness.

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