High-flying football club enjoys soaring profits
SECOND-top Championship football club Burnley is reporting soaring revenue and profits for the financial year when it was in the Premier League.
For the year ended June 30, 2015 revenue for the Clarets was £78.77m compared to £19.63m for the 2013/14 football league season.
The increase was attributed to the club being in the top flight in the 2014/15 season. Attendances at Turf Moor were an average of 19,158 compared to 13,527 in the prior season.
Net profit after tax was £29.9m compared to a loss of £4.5m in the season it was promoted in 2013/14.
Income from matches during the period was £6m, but that was dwarfed by Premier League television rights money which amounted to £66.59m, compared to £11.9m for the previous season.
Wages and salaries for players, managerial, training, sales and administrative staff amounted to £25.34m, but non of the directors of the club received any renumeration from the company during the year.
The balance sheet now shows net assets of £16.52m compared to net liabilities in 2013/14.
Burnley say they are now investing in improved facilities for the players and staff as a result of the season in the Premier League, where they will be again if their current form continues.
