Swansea City takes loss before promotion

English Swansea City absorbed a GBP 647,313 loss for the past fiscal year.

The club did have a profit margin of GBP 447,793 just a year ago.

Things look brighter, however, with a Championship promotion in the wings. The club likely will earn an additional GBP 2 million from the jump, including revenue from new sponsorship deals, hospitality and, of course, broadcasting fees.

Season tickets also are expected to rise from the 8,000 who now hold Swansea City stubs. That, too, should generate additional revenue.

Club president Huw Jenkins blamed the downturn on investing in training facilities and upgrading the players.

"I would say it's a remarkable achievement to make the loss we did," Jenkins told the shareholders. "We are a well-run club and, unlike many clubs in the division we're going into, we are in a stable financial position. This club operates in the black continuously and, while there will always be swings and variations from season to season; we will continue to run it along those lines."

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