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Blackpool in rude financial health despite relegation

Football News 24/7
The Seasiders revealed on Tuesday its latest accounting figures for 2010/11 and turnover soared to £51.7m which sawt  the club posting a pre-tax profit of £20.9m, after a loss of £6.7m the previous year. based on a more mediocre turnover of £9.4m for the year 2009/2010.

Thanks to central distribution payments made by the Premier League, and an increase in stadium capacity and facilities – with the opening of the South Stand and enhancement of the East Stand – turnover at the club increased five fold.

During the same period the cost of wages increased to £12.1m and transfer fees totalled £3.5m, with overall costs rising to £30.7m.

It is thought the £6.7m loss the previous year relates to bonus payments made to players and staff for reaching the Premier League – so would not have been paid out had an estimated £90m Premier League windfall not been guaranteed.

Whilst anager Ian Holloway spent £3.5m on new signings, the club’s wage budget reached £12.1m. But the figures are understood not to include the sale of star midfielder Charlie Adam to Liverpool and other departures.

Compared to the news from Villa Park of mounting losses (see separate story) Blackpool's Board should be applauded for ensuring relegation and a year in the Premier League did not end up in financial tears as it has for several relegated teams in the past,

If Blackpool can make it back at the first time of asking it looks like they will be in an even stronger position to stay up.


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