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Sunderland reports loss
England - 20 December, 2004
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The Championship club has reported a loss of £1.2m for the year ending 31 July 2004, a reduction of 94% on the £19.4m deficit recorded last year. Turnover dropped 33% from last year’s £42.5m to £28.5m, while TV and media revenues had reduced 51% to £9.5m. Annual wage bill cut by almost 50%, down from £34m to £16.9m, and net debt still stands at around £35m. This year losses are mainly due to the club’s relegation from the Premier League.
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