Wolves celebrate promotion profit

Published Add your comment

Wolves have announced a pre-tax profit of £9.1million for the year ending May 31, 2010.

The results compare to a loss of £4.9million for the previous 12 months, with the turnaround in financial fortunes coinciding with Wolves' return to the Premier League after a six-year absence.

The turnover for the period was £60.6million compared to £18.3million for the promotion campaign, and the uplift in turnover can be primarily attributed to central Premier League deals, including television rights and sponsorship, and Wolves' own commercial activity.

Ticket revenues increased as average attendances rose from 24,153 to 28,366.


Operating costs were higher than in the previous year due to an increase in the players' wage bill.

During the financial year under review, Wolves also broke their transfer record to sign striker Kevin Doyle for £6 million from Reading.

They also bought in other internationals including Nenad Milijas and Ronald Zubar and re-signed a number of players on long-term deals including Wayne Hennessey, Kevin Foley and Sylvan Ebanks-Blake.

Wolves chief executive Jez Moxey said: "It was a huge success for our young, developing team to finish in 15th place in the Premier League in our first season back in the top flight.

"Our financial results reflect the successful balance the club struck between sound financial management and continuing investment in players and off the pitch infrastructure.

"We have said many times before that we will not be irresponsible and fall into the dangerous trap of over-stretching the club. Chairman Steve Morgan has outlined a long-term vision for the club's overall development and has clearly stated that this won't be at the expense of sensible investment in new players."

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:

Premier League
Wolverhampton Wanderers

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


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. 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