Play offs prove lucrative for Sheffield Wednesday

Reaching the play-off final at Wembley proved lucrative for Sheffield Wednesday according to the club which revealed its annual results this year.

The club, which was defeated 1-0 in a game against Yorkshire rivals Leeds United on the weekend, turned over £22m for the year to May 2016. This was an increase of £7.1m on the year before when revenues reached £14.9m.

It made more than £16.3m on match receipts during the year, whilst commercial activities raked in £5.6m up from £4.8m the year before.

Despite this, the club doubled its pre-tax losses, from £4.5m in 2015 to £9.8m, and the Owls’ directors did not recommend a dividend for the year.

Profit from the sale of players halved from £1.2m to £648,000, with increased admin expenses and amortisation of player registrations offsetting increased turnover.

The club, based at Hillsborough Stadium, acknowledged that it would require further funding to continue to operate, with Dejphon Chansiri, the Thai businessman who acquired the club in a £30m deal two years ago, promising to keep the business afloat.

The team finished sixth in the Championship last year, up from 13th the year before.