Home GeneralDundee lose £1.8m but expect continued improvement

Dundee lose £1.8m but expect continued improvement

by Luna
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Dundee lost £1.8m in the last financial year, but that was £1m less than the previous season and the Scottish Premiership club's majority shareholder promised to continue to make up the shortfall.

They expect the next two seasons to improve further.

"These projections have been drawn up on the basis of conservative assumptions as to the league position to be achieved by the football club, attendance levels at matches, and the management of all costs, including expenditure on players costs," Dundee said in their financial statement to 31 May.

The latest losses came during a season when a side under then manager Tony Docherty avoided the relegation play-off on the final day of the season by finishing 10th.

The previous season's larger loss came as they won promotion back to the top flight.

While Dundee directors "elected not to include a copy of the profit and loss account within the financial statements", it does reveal that the club spent £282,500 in transfer fees during their first season back in the Premiership as staffing increased from 80 to 85.

Among those signing for undisclosed fees were striker Simon Murray from Ross County, defender Aaron Donnelly from Nottingham Forest and left-back Imari Samuels from Brighton and Hove Albion.

Meanwhile, midfielder Luke McCowan was sold to Celtic, youth centre-back Seb Lochhead went to Wolverhampton Wanderers and teenage goalkeeper Ally Graham to Nottingham Forest.

"The financial projections which have been prepared anticipate that the company will be able to meet its ongoing financial commitments from funds generated from operations", Dundee add.

Any financial deficits would be covered by Football Partners Scotland, the company set up by chairman Tim Keyes and managing director John Nelms to buy the club.

Original Article

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