Football

McCabe points finger after financial losses

Published Add your comment

Football News
24/7

Sheffield United chairman Kevin McCabe has blamed the club's financial losses for the year ending June 30 on the 'Tevez affair'.

McCabe said: "One can only ponder as to the potential turnover and profitability that may have been achieved were it not for the circumstances and events emanating from the media-named Tevez Affair.

"Sheffield United are now a robust, strong and proud club, who will simply not back down or walk away from tackling head on those organisations responsible for the shameful actions and events that have tarnished English football."

McCabe added: "Turnover in 2008 was £32.1 million, a reduction from the £44.2 million of 2007, arising from our unjust relegation from the Premier League in May last year and thankfully limited due to the success of our off-the-field interests."

The Blades have announced an operating loss before interest and tax of £3.5million, while for the same period last year the club made a profit of £2.7million.

Retained losses stand at £6.3million compared to a £300,000 profit at this time in 2007. Turnover is down from £44.2million to £2.1million.

The Blades are hoping to claim up to £50million from West Ham in compensation next spring after an arbitration panel ruled that Carlos Tevez should not have been permitted to play in the final matches of the 2006/7 season, when the Argentina striker helped West Ham avoid relegation at Sheffield United's expense.

Copyright (c) PA Sport 2008, 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
Carlos Tevez
Premier League
Sheffield United

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