Etihad Stadium

Next Game

Man City v Burnley

Sunday, 28 December 2014, 15:00

Barclays Prem

Turf Moor

Last Game

Burnley 0 - 1 Liverpool

Friday, 26 December 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

Upgrade in minutes or watch with a NOW TV Day Pass.

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

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

P

arish is the man to blame for this shambles. Pulis must be chuckling into his left over turkey sandwich. I pray this doesn't mean the Neil Warnock media machine will kick in now and he'll be back on the telly box.

magicfuller
Warnock sacked by Palace

W

e almost found a new way to lose, just when I thought it was getting boring Giroud does that. Although Arsenal are deservedly called 'soft' the entire midfield is out injured. Still must admit MU are managing to win despite a similar raft of absentees. Think the Gunners have good players but poorly coached.

gettalong
Wenger: Giroud deserved red

I

really enjoyed this. Thanks F365 for another year of work avoidance - happy Christmas.

megabrow (cufc)
Our Person Of The Year: Alan Pardew

Footer 365

Louis van Gaal blames congested Christmas schedule for Manchester United's draw with Tottenham

Louis van Gaal again criticised the congested Christmas fixture schedule after Manchester United's draw at Tottenham.

Paul Lambert: Aston Villa's new style here to stay despite lack of goals

Paul Lambert is sure the goals will come for Aston Villa if they persist with their current style of football.

Bobby Zamora tells QPR to give Charlie Austin a new contract

Bobby Zamora has told QPR to sort out Charlie Austin's future before his goals attract bids from elsewhere.

Mail Box

Van Gaal's Half-Term Report Card...

One Man United fan isn't happy with the rate the team is progressing under Louis van Gaal, while the mailbox also wishes Liverpool fans a Merry Mid-Table Christmas...

Hang On, Rafa's Success Is No Fluke...

The afternoon mailbox kicks the morning mailbox's arse after claims that Rafa Benitez has fluked his success. Plus, big talk about Liverpool's progress and lots more...

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