SHEFFIELD UNITED REPORT MASSIVE RISE IN TURNOVER

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The Championship club reported a 224 percent increase in turnover to GBP 20.4 million for the six months ending December 31, 2005, a figure attributed to its non-football related assets. United Scarborough Estates accounted for 201 percent of the turnover figure. The football and property joint venture experienced an increase of 23 percent.

As a result of the improved numbers, Sheffield United reported pre-tax profits of GBP 126,000, a huge improvement over a loss of GBP 902,000 over the same period the previous year.

Commenting on the results Kevin McCabe, chairman, said: “This year is proving to be another year of significant progress for the Club. During the period we have progressed our football and non-football activities significantly. We have been in the top two places of the Championship for the whole season and became the first UK football club to launch a property fund and the first football club to acquire a majority shareholding in a Chinese football club, both being areas where we believe there is significant opportunity to create value.”

As of the end of March, the club was second in the Championship, meaning they would receive automatic promotion to the Premiere League.

As McCabe mentioned, Sheffield United became the first British team to buy a controlling interest in a Chinese club, buying 90 percent of Chengdu Five Bulls and renaming them Chengdu Blades FC.