PROMOTION bonuses and the cost of changing the management team cost the Owls a total of £1.4m, the annual accounts reveal.
Key points after a 2011-12 season of success and Milan Mandaric’s first full year in charge include:
An £1.5m increase in turnover, to £10,9m.
A rise in gate receipts from £4.6m to £6m.
A reduction in the year’s operating loss, from the 2011 figure of £6.8m to £4.9m, an amount that represents 45 per cent of turnover, compared to 73 per cent for 2011.
A £500,000 rise in operating expenses, to £14.4m, which includes the £1.4m for the promotion pay-outs and the change in the managerial and backroom staff.
Wednesday replaced Gary Megson with Dave Jones and brought in new backroom staff.