Now to get back on the topic.
On 8th April 2024 the Dundee Football Club Limited annual accounts for the year ending 31st May 2023 were published on the Dundee Football Club website.
In addition to the usual ‘Filleted’ financial statement an ‘eagle eyed’ Dundee FC supporter noticed that the full financial statement had also been published on the Dundee Football Club website.
This supporter immediately downloaded the full financial statement into word before it was removed from the Dundee Football Club website.
You may remember that an annual loss of 2 million 800,000 pounds for their financial year ending 31st May 2023 which was the season we were in the Championship had been announced.
I received a copy of the Dundee Football Club Limited full financial statement for the year ending 31st May 2023.
The total income was ?3.2 million. The cost of wages and salaries were ?3.4 million. This means that cost of wages and salaries was 106% of total income.
The total expenses were ?6.087 million which was 190% of total income.
These figures are ‘eye watering’ and they prove that without Tim Keyes ‘bankrolling’ Dundee Football Club Limited we would facing Admin 3.
Incidentally the figures for the year ending 31st May 2022 were also enclosed in full financial statement for the year ending 31st May 2023.
This was when we were playing in the ‘land of riches’ known as the Premier League.
The total income was ?4.9 million with the cost of wages and salaries being ?3.6 million which is a more sustainable 73%.
The total expenditure was ?5.9 million which was 120% of total income.
Normally when a professional football club in Scotland is relegated to a lower division there are cutbacks due to lower gate receipts and prize money yet the number of staff including directors increased from 59 in the year ending 31st May 2022 to 68 in the year ending 31st May 2023 and the total expenditure increased by nearly two hundred thousand pounds.