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Cardiff City turns profit
England - 21 June, 2007
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With player wages cut by GBP 2.5 million, Welsh Cardiff City pulled down a GBP 1 million profit for the fiscal period ending May 2006.
With stadium plans now going forward, and a completion date within two years, the club can feel a bit more confident that its GBP 32 million debt could be eradicated.
The profit came after a loss the previous fiscal period of GBP 6 million. Chairman Peter Risdale pointed toward player sales – particularly the GBP 3 million sale of Cameron Jerome to Birmingham City last season – as reason for the turnaround.
Risdale also said the new stadium should allow the club to turn a profit "year in, year out."
The club also cut its debt to Rudwick Ltd. for management services for the stadium project.
With stadium plans now going forward, and a completion date within two years, the club can feel a bit more confident that its GBP 32 million debt could be eradicated.
The profit came after a loss the previous fiscal period of GBP 6 million. Chairman Peter Risdale pointed toward player sales – particularly the GBP 3 million sale of Cameron Jerome to Birmingham City last season – as reason for the turnaround.
Risdale also said the new stadium should allow the club to turn a profit "year in, year out."
The club also cut its debt to Rudwick Ltd. for management services for the stadium project.
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