Money, get away. Get a good job with more pay and you're O.K. Money, it's a gas. Grab that cash with both hands and make a stash. New car, caviar, four star daydream, Think I'll buy me a football team...
The 2016-17 SAFC accounts were released this morning and they make for an interesting (or depressing read) Here's a brief summary by someone who can barely count to ten:
The club's debt stood at £138m which Ellis Short has wiped out. Cheers Tex!
Turnover actually increased for the year from £108m to £126m.
We made a £9.6m pre tax loss which is up from the £33m loss the previous year.
Club debt rose by £15.3 million despite the sale of assets such as Jordan Pickford for £25m (rising to £30m). We did however have to pay £9.7m for Ricky Alvarez. A deal which will surely go down in history as the worst financial f*ck up in decades. It's listed in the accounts as an “exceptional operating expense”
Wages to turnover decreased by 10% to 66%, meaning we are within the financial fair-play regulations which stand at 70%.
Martin Bain netted himself £1.25m for the year. Not a bad 12 months for our pantomime villain. That makes him the highest paid chief exec in our history. Bain's salary was pretty much on par with the entirety of transfer fees expended by SAFC following relegation to the Championship.
We nabbed £95.6m in broadcast fees and prize money from the 2016-17 Premier League relegation season.
Short provided just £1.25m in player transfer fees but pumped £19.5m into the club over 12 months to keep borrowing to the banks stable.
A more detailed write up by our resident ALS accountant will be posted soon.
To celebrate being complete and utter shite once again, we’re bringing bring back this classic t-shirt from the 05/06 season. Looking back to those halcyon days under Mick McCarthy when we managed to amass an incredible 15 points to see us relegated from the Premier League.
Don’t worry we will reach those lofty heights again but until then we can take comfort in the fact that we’re all... still here when we are shit! Hardcore fans and Sunderland till we die, whichever league we are in and whoever owns the club. Players, manager and chairman come and go. Fans remain. We are the club… click here to view product
