Turf Moor

Next Game

Burnley v Everton

Sunday, 26 October 2014, 13:30

Barclays Prem

Turf Moor

Last Game

Burnley 1 - 3 West Ham

Saturday, 18 October 2014, 15:00

Barclays Prem

Burnley announce heavy losses

Sky Bet Championship leaders Burnley have announced annual losses of £7.6million for the last financial year.

Last Updated: 21/11/13 at 11:43 Post Comment

Turf Moor: Big losses for Burnley

Turf Moor: Big losses for Burnley

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

The Clarets had made a £3.1million profit 12 months earlier, which was mainly down to the club-record sale of recent England call-up Jay Rodriguez to Southampton.

Since then, though, the parachute payments which the club were given when they were relegated from the top flight in 2010 have decreased by £7.4million.

This season is the final year in which the club will receive parachute payments but the sale of Charlie Austin to QPR this summer will be factored into the next set of accounts due out in 12 months' time.

In a joint statement, Burnley's co-chairman Mike Garlick and John Banaszkiewicz said: "Running a football club is a challenging business and our learning curve has been steep, during which we have sought to maintain an open dialogue and communicate clearly with the club's stakeholders.

"We have successfully managed to restructure the club and buy back Turf Moor and the Gawthorpe training ground. This innovative scheme, which raised the required finances from fans and directors, was well received as a means of returning those assets to our control and saving us money in the long term.

"On the pitch, Sean Dyche's approach has seen an improvement in our defensive record and his excellent work ethic will help us build towards the future."

The forthcoming Financial Fair Play regulations dictate Burnley can post losses of up to £8million this financial year but any further losses could result in a fine or transfer embargo.

The club's net debt is currently at £15.4million, up from £6.2million last year, but is still dwarfed by the figures of neighbours and Sky Bet Championship rivals Blackburn, who recently announced their net debt at £54.5million.

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

H

e doesn't need a caoch. He needs a bus. A bloody big one, that he can park across the goal line. And when he gets one, he can do us a favour and let us know where we can buy one from as well.

HarryBoulton
Rodgers: No defence coach

Y

ou are wrong Per, thats the right way the play. Its everyone elses' fault that it doesnt work.

delboy
Mertesacker urges style change

A

s it's panto season coming soon, let me be the first Oh yes you do

munchie
Rodgers: No defence coach

Footer 365

La Liga: Carlo Ancelotti praises 'professional' Real Madrid after 3-1 Barcelona win

Carlo Ancelotti praised Real Madrid's "unique professionalism" after they came from a goal down to beat Barcelona.

Premier League: Mauricio Pochettino says Alan Pardew deserves more respect

Tottenham boss Mauricio Pochettino admits it is tough not to feel sorry for Newcastle counterpart Alan Pardew.

La Liga: Luis Enrique stands by Luis Suarez selection after Barcelona defeat

Luis Enrique defended his decision to start Luis Suarez against Real Madrid after his team slumped to a 3-1 defeat.

Mail Box

'Goals Like That Can Make You Pregnant'

Those being sniffy about Erik Lamela's rabona are given short shrift in the afternoon mailbox, where criticism of Brendan Rodgers is smashed out of the park...

Does David De Gea Need Competition?

It would certainly be a good idea to give Victor Valdes a contract, while we have more mails on Brendan Rodgers, Arsene Wenger, the rabona and mailbox gripes...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property