Football

North End announce losses

Published Add your comment

Football News
24/7

Preston have reported net pre-tax losses of £9.17million for the last year with an operating loss of £5.94million, up from £3.38million.

The Coca-Cola Championship outfit have seen a 25% increase in staff costs from £8.99million to £11.24million which was "almost all attributable to increases in players' wages".

However, these losses do not include the sales of former captain Paul McKenna to Nottingham Forest for £750,000 or the impending £4.5million transfer of Sean St Ledger to Middlesbrough.

Chairman Derek Shaw, who admitted the club had been kept afloat by loans from major shareholders, said: "It is becoming increasingly difficult to continue to meet the expectations of fans who want the club to be competing for promotion every year.

"Of course we all want to see this level of success, however the competition from the relegated Premier League sides and their financial resources makes this extremely difficult."

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms

Topics:
Football
Sean St Ledger
Championship
Premier League
Paul McKenna
Preston North End
Nottingham Forest
Middlesbrough

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author

DISCLAIMER

This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again