Sheffield United's “ultimate goal will always be a return to the top tier of English football” according to the Bramall Lane board of directors, after it was revealed that the club posted £200,000 A WEEK operating losses during the 2017/18 accounting period.
United’s annual accounts showed the £10m operating loss, however, was offset by £8m in profit from player sales, although the club’s wage bill increased by 90 per cent to £19m and United spent £97 on wages for every £100 of income they received.
And in a strategic report presented within the accounts, the Bramall Lane board says: "As a club, the ultimate goal will always be a return to the top tier of English football.
“To this end the board has made significant acquisitions in the summer 2018 transfer market registering five permanent transfers along with five temporary transfers.
"The league is highly polarised in terms of revenues with several big teams receiving significant parachute payments following Premier League relegation.
“The board recognise this and therefore continue to support the first team management team in their talent identiﬁcation and recruitment as this is key to being able to compete in the league.
"Underpinning our goal of promotion to the Premier League is the adoption of a self-sustaining business model. The board seek to drive a culture of commercial awareness that encompasses continuous improvement and efficiency savings.
“The executive and management teams have initiated several projects to maximise returns throughout the business."