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United chairman issues caution in 'difficult financial times'

Dundee United chairman Stephen Thompson has delivered a financial warning to fellow Scottish clubs after the Scottish Premier League club revealed a £66,000 profit.

United increased its turnover by £260,000 to £6.052m for the year ending June 2010 whilst bank borrowing remained the same as the previous year at £5.4m.  Chairman Thompson attributed the figures to Dundee’s Scottish Cup success and third place finish in the SPL.

Thompson said: "In extremely difficult financial times for Scottish football as a whole, it is pleasing to see the club return a small profit for the year. It should be stated, however, in a season in which we won the Scottish Cup and finished third in the league, this modest profit only goes to show the harsh realities of the current financial climate within Scottish football.

"Despite the huge success enjoyed on the park, home attendances dropped by 10% in relation to the previous season. The club remains committed to supporting Peter Houston in providing the best team possible but we also accept that any expenses incurred have to be covered by income generated.

"In summary, whilst the importance of the financial restrictions within Scottish football at present cannot be underestimated, the club has, and continues to face up to its current challenges in a quiet and diligent manner."

Earlier this week Queen of the South revealed a loss of over £1m whilst rivals Dundee went into administration last year. 

 

Scott Hobro

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