Sheffield United posted operating losses which equalled £200,000 per week during the 2017/18 season, the club’s accounts have revealed.
Detailed in a Twitter thread by finance expert Kieran Maguire, who runs a popular account called ‘Price of Football’, the accounts show that United’s £10m operating loss, between July 2017 and June 2018, was partly offset by £8.4m of profits from players, although the £11.5m sale of David Brooks to AFC Bournemouth did not fall under this accounting period.
The accounts, filed with Companies House yesterday, show that United posted operating losses of just over £10m for the period while the club’s wage bill rose 90 per cent to £19m – meaning that for every £100 of income, United spent £97 on wages.
In terms of income, United were lower mid-table with £20m – Aston Villa’s £74m income saw them top that particular table – and their £19m wage bill was also dwarfed by Villa, who spent £61.5m. Villa’s second city rivals, Birmingham, spent over twice their yearly income (£18.8m) on wages (£38m).
Despite having to write of £110,000 due to a debtor being unable to pay, United ended the accounting period, up to June 30, with just under £1.3million in the bank.