Partner Article

Boro opens it books on tough spell

MIDDLESBORO Football Club has revealed the cost of relegation from football’s top tier in its annual report, which was submitted to Companies House yesterday.

In the year ending 31 December 2009, turnover was down from £57.98m the previous year to £41.9m, with an operating loss of £12.6m.

However, sale of players, post-relegation, brought in £17.4m, leading to loss on ordinary activities before tax of only £333,000 (against a loss of £12.79m the year before).

Boro’s wage bill also fell year-on-year, as would be expected, from £34m to £31.2m.

The full financial impact of relegation won’t become apparent in Boro’s accounts until this time next year, when a first full year of Championship football (on Championship income) is reflected.

Central payments from the Premier League (effectively TV money) in 2008-09 totalled £30.945m for finishing 19th. In 2009-10, Boro instead received a ‘parachute payment’ of £12,269,522, and in 2010-11 they will receive an increased parachute payment of £16m.

This was posted in Bdaily's Members' News section by Ruth Mitchell .