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Wolves reveal drop in profits

Wolves reveal drop in profits

In the current financial climate any profit is a good thing, especially when it comes to football clubs.

I'm no financial expert, but there are not many Premier League football clubs, or in fact many English football clubs that can announce they made a profit of £2.2million for the financial year.

Add in the fact that last year we made a profit of £9.1million and the figures over the past 24 months look good.

Yes the profit might have declined by £7million over the past year, however there was a lot of investment in the squad over the past 12 months with the signings of Steven Fletcher, Stephen Hunt, Adam Hammill, Steven Mouyoloko and Jelle Van Damme and of course the season-long loans of Michael Mancienne and Jamie O`Hara.

It's impossible to tell how much was spent due to our transfer fees always being undisclosed, but even a conservative estimate would be in the region of upwards of £15million and on top of the fees we also handed out improved long-term contracts to a number of players, which helped operating costs increase from £29.8million in 2009-10 to £37.9million this year.

So overall the figures look promising, which shows that at least off the field, the Wolves board of directors appear to know what they are doing.

"These are solid results, which reflect the club`s strong financial health. We`re committed to running the club on this firm financial footing, while continually looking to invest in the first team.' Wolves chief executive Jez Moxey told the Express & Star.

Wolves will also continue to invest in the infrastructure of the club with the £18million redevelopment of the Stan Cullis Stand and the £6million upgrade of the Compton Park training ground.

Moxey added: "The investments in infrastructure have both been made with the future success of the first team in mind. Our aim to become a 'Category 1` Premier League Football Academy puts the club in a good position to secure the best young talent in the face of intense competition from other teams."

Vital Wolves Comment: As ever finding the balance between investing in the clubs infrastructure, has to be met by another investment in the first team to guarantee survival in the Premier League.

But overall these are positive results for Wolves fans, you only have to look as far as Rangers in Scotland and Portsmouth down south to see how bad things can be.



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Writer:Akela
Date:Wednesday February 29 2012
Time: 10:00AM

Comments

0
Yeah, and guess what? They will drop off drastically should we fail to stay up. You would think someone on a 6 figure salary would be clever enough to have figured that out? Even a mindless idiot nugget like myself knows that funding the squad to keep it in the Most Lucrative Division is the best way to balance the books..
AdMant
29/02/2012 12:23:00
0
Spot on- how much is the sky money these days, thirty, forty, fifty? I have lost track but it does not take too much working out that an extra ten million investment in the team seemed to make sense non? Must have counter banked against making somewhere between thirty and fifty if in the event of relegation Fletcher, Doyle, Henny, O'Hara, Jarvis will be gone to name but five. Ah, we do hope you know what you're doing Terry.
New York City Wolf
29/02/2012 13:49:00
0
I totally agree with both of you. I'm not much good at sums but even I know that JM's financial calculations and priorities do not add up. I'm looking forward to the visit to Craven Cottage on Sunday where I shall be paying close attention to TC's tactics, line-up and substitutions. Read all about it here.
Southbank60
29/02/2012 15:00:00
0
I have taken ALL THE POINTS ABOVE but let me put it the other way AV LOSS OF 53MILLION and struggleing only two places above us which position would you like to be in.Takeing into account there next opponent is Blackburn THEY LOSE NOW ONLY five points and thats not takeing Wolves geting a result at Fulham on Sunday. We stay up we have money to spend apart from QPR with their new owner is any one else in the bottom six, seven or eight more viable than we are the anwser is no.Do we need to sell no will the same players like WH,SF.KD.MJ,JOH, remain loyal if we got relegated dont no but i do know if it happens they will not go on the cheap.Not like others who would not be able to keep them on account of there financial wellbeing we do have a choice unless the player asks to move. Its alright to slag the management of when things are not going right but you have to look at the whole picture look at Newcastle for instance who would believe it where they are at the moment with ashleys investment and the fans still dont like the guy. Yet he is the one who has paid off the debt and put them on a financial sound standing yes he makes enemies with his decisions but where would Newcastle be now with out him. This is just a comparison as to what Morgan is trying to do at Wolves but with a smaller budget they went down kept hold of some of their big names two years later fighting for top four spot the grass is not always greener on the other side.Be careful of what your wishing for look back twenty five years ago if it had not been for Hayward we would not even be here.
kiawolves
29/02/2012 21:58:00
0
You can't build a club on the Sky money, otherwise you end up like Portsmouth. Investment in the clubs infrastructure is the right thing to do for the long-term benefit of the club. It's just not as sexy as a new striker. I think the balance between infrastructure and investment in the first team is key and I think they have the balance nearly right.
akela
02/03/2012 11:29:00
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