Cup run boosted club finances

ATHLETIC’S epic FA Cup run last season may have helped to cut the club’s net liabilities by up to £284,000, according to the latest published accounts.

The superb 3-2 win over Liverpool in the fourth round and two further televised matches against their Merseyside rivals Everton swelled the Boundary Park coffers significantly in the 2012-13 campaign.

But the approximate half-million profit made from the journey to the fifth-round replay at Goodison Park, as estimated by chairman Simon Corney, was partly offset by player bonuses and the wholesale change of management during a rollercoaster campaign.

In the year up to June 30, 2013, an abbreviated balance sheet shows the club’s net liabilities decreased to £5,132,341 from a figure of £5,416,066 at the previous year’s end.

The documentation also stated that: “The company is dependent upon its current and previous shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months.”

Athletic spent £52,000 on acquiring players during the season, including agents’ fees. The club’s longer-term liabilities went up from £188,973 the previous year to £423,941.