Like I said weeks ago we have a black hole to fill and it appears to be around the 100 million mark.
Plenty of talk going on about ins and outs but little action, that might change next week though
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Right now £8 million profit and a total of £15 million back in the bank will come in pretty handy me thinks.
The season we went back up during Kompany’s first year with us and despite the Clarets bringing in £11.4m from player trading, the stark fall in turnover following relegation led to the club recording a loss of £27.9m for the financial year.
Our turnover plummeted from £123.4m to £64.9m due to the absence of Premier League TV money.
We can rinse and repeat those figures for this new season’s finances because of the missing EPL money.
Because we made a profit of £26m the year Kompany took over, we will not be at threat of breaching the Premier League’s Profit and Sustainability rules.
Significantly, the club also owes £70m in bank loans, up from £45m the previous year.
The Board have already announced that following our recent relegation, Burnley Football Club in line with all relegated clubs will incur a significant reduction in turnover as Premier League broadcasting revenue is replaced with parachute payments.
Now we are back in the Championship this season, the club has already stated it will have no option but to sell players to recoup cash, while player salaries will also have to fall.
I expect O’Shea, Trafford and Weghorst to join the exodus pretty soon. No point in moaning we just have to cut our cloth according to our means, but with the squad we have left, I think we still have enough to win promotion this season. UTC#
Like I said weeks ago we have a black hole to fill and it appears to be around the 100 million mark.
Plenty of talk going on about ins and outs but little action, that might change next week though