SHEFFIELD WEDNESDAY: Owls players get reward for promotion

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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.