Cup run boosted club finances
Date published: 18 April 2014
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.
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