West Brom debt of £6.6 million

West Bromwich Albion have released their annual report, showing net losses of £6.6 million. The club, who have made an initial profit of £7.7 million blame the cash happy nature of the Premier League for their current financial situation, but say that the club is as strong as ever financially and in a strong position compared to other football clubs.

Annual accounts show that turnover at West Brom has increased from £27.2 million to £47 million for the financial year ending June 2009, with most of this increase being attributed to income fom Premiership media rights.

The club itself made a profit of £7.8 million, with a futher £7.7 million coming in from the sale of players.  But the net loss of £6.6 million is, say the club. largely down to the depreciation of player values, costing them a massive £13.3 million in pre tax losses as players neared the end of their contracted term at the club.

The wage bill also rose by an estimated £9 million with the clubs promotion to the Premier League at the end of the 2007/08 campaign.  This initial wage increase was in turn followed by future wage liability - that is the amount payable to a player as written in their contact after signing or renewing contracts in the promotion season, which from £10.2 million to £33.4 million.

The club assured that parachute payment money had been, and would continue to be allocated wisely.  Many clubs are experiencing financial difficulty in the present financial climate - recession seems to have hit all spheres of life except player wages, leaving many clubs with a huge wage bill that they simply cannot afford to pay.

Albion are stable and in a stronger position than most they reassured fans today.

West Brom debt of £6.6 million

Posted by: Baggies World (IP Logged)

Date: 15/12/2009 22:23

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Re: West Brom debt of £6.6 million

Posted by: halesowen wolf (IP Logged)

Date: 16/12/2009 07:56

Whats Peace done with the Money?? He is tighter than a ducks . If your in debt there is not much hope for any of the lower teams, who can't even make it to the Prem

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Re: West Brom debt of £6.6 million

Posted by: .Say Hello Wave Goodbye. (IP Logged)

Date: 16/12/2009 07:59

Unreal ay it. After 4 years prem money, Parachute money etc, I mean our team is full of multi milliom pound players on mega wages did you not know this.



The Lords My Shepherd.
The future is bright. The future is Stripes.


www.wbabaggies.co.uk

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Re: West Brom debt of £6.6 million

Posted by: .Say Hello Wave Goodbye. (IP Logged)

Date: 16/12/2009 08:07

And he tells us because we are not Prem the squad has devalued by 17 mill. How is that taken into account as debt.? In my mind that still leaves us in profit. The sooner he F.....ks off the better WBA will be. Grrrrrr.



The Lords My Shepherd.
The future is bright. The future is Stripes.


www.wbabaggies.co.uk

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Re: West Brom debt of £6.6 million

Posted by: Hall_Green_Wolf (IP Logged)

Date: 16/12/2009 16:08

West Brom in debt?

I must have missed something when did you sign Ronaldo and Kaka?

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