Player cash goes to bank
SHEFFIELD Wednesday will use part of the money received from the sales of Madjid Bougherra and Chris Brunt to partially offset the club's £20-million-plus debt.
The club is set to announce a net annual profit of 1.5m, their best results for a decade, while the intention is for some of the income from their recent multi-million-pound player sales to be utilised to help reduce the overall debt.
Meanwhile, a player they recently paid money for, 700,000 striker Francis Jeffers, looks set to make his Wednesday comeback tonight after injury.
The 1.5m net profit, revealed from unaudited preliminary indications, is for the last full financial year.
If confirmed once the official audit is complete, then it would represent Wednesday's best financial return since 1995.
The 2.5m sale of Madjid Bougherra to Charlton in January was a huge boost for Wednesday's finances.
The 3m move of Chris Brunt last month is not factored into the figures for the last financial year but some of that is set to contribute towards the overall debt reduction.
The preliminary report welcomes the fact that the profit marks a "forward movement" in the club's financial performance.
As part of this process, the directors' intentions are that 2m will specifically designated from "player trading" for debt reduction.
The fully audited accounts are expected to be released in the next few weeks.
Jeffers looks set to play some part in the Owls' reserves game at Grimsby tonight.
Injured on his debut on the opening day at Ipswich, he then missed the Carling Cup tie at Rotherham but returned for the Wolves home game three days later on August 19.
However, he suffered a recurrence of his calf strain and was sidelined.