Dundee United lose £2.4million as cost of relegation is revealed
Mark Ogren says wage bill has shot up by £1million
Dundee United are revealing the cost of last season's disastrous relegation after announcing a loss of £2.4million
Chairman Mark Ogren also revealed wages are up by 18 per cent to £6.9million and within that figure is the money they had to use to pay off Jack Ross and Liam Fox – and others – who were fired in the 2022/23 season.
The American owner’s admitting an immediate return to the top flight is key to their financial recovery but said that turnover was still high at just over £8million.
He said: “Quite clearly the 2022/23 season was a difficult one for the club. What started as a vision to continue progress and challenge within the top six of the Premiership once again, ended with the ultimate disappointment of relegation.
“Turnover remained high at over £8 million and a significant factor to this was the continued loyalty of the fanbase with over 5,800 season tickets sold. Our appreciation for the fanbase is unequivocal.
“Unfortunately, as wage costs increased significantly following investment in the playing squad at the beginning of the campaign, prize money, crowd receipts, and other income fell as the club’s fortunes on the park weakened.
“The required changes were made across the football department including the change of management teams and these costs are reflected in these accounts. In the summer, Jim Goodwin was confirmed as first-team Manager, and the board remains convinced that he and his staff will lead the club to future success.
“The club remain on course with the short-term ambition of a return to the Premiership following a positive first half of the league campaign and that has been assisted by superb backing from our loyal fans; we have no doubt that will continue as we head towards a conclusion to the league campaign.”