Football

Tranmere reveal financial troubles

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Tranmere have announced an operating loss last year of nearly £1million at the club's annual general meeting.

The pre-tax figure is based on accounts for the year ending June 30, 2009, with the club also revealing an increased turnover to over £3m. The loss is bigger than 2008's figure, which stood at £438,000 with an almost identical turnover.

Rovers chairman Peter Johnson, who blamed the loss on the lack of player sales, told the Liverpool Echo: "Operating expenses were reduced by £112,000, but the lack of transfer income (for the year ended June 2009) was down by £646,960 to £78,488, which meant the loss before taxation more than doubled to £994,720."

The accounts also revealed Rovers are around £6m in debt, with Johnson, who owns a 60% controlling stake in the club, handling much of the debt in loans and loan guarantees.

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

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