Premier League: Burnley make profit from Championship promotion

Premier League: Burnley make profit from Championship promotion

Burnley announced the club made a £ 300,000 profit while ensuring promotion to the Premier League in the financial year ending June 2014.

However, because of payments of premiums for a total amount of £7 million, which were directly related to the back in the top flight, a total of £7.6 million loss was recorded.

The Clarets, who got the promotion as runners-up to champions Leicester, also made a £7. 6 m loss in 2013, which was reported prior to the sale of striker Charlie Austin to Queens Park Rangers for a fee of around £ 4 million.

The most recent accounts of Burnley showed a turnover of £19. 6 m, a £4. more than 3 m from 2012/13, ultimately due to the success on the ground of the team of Sean Dyche.

Directors loans were repaid to the tune of £4 m, with a further £ 4 million paid in other external loans, around £1. 5 m bond of Turf Moor «Redemption» - re-purchase of the stadium and training Michel Gervais centre - was also reimbursed for make easier debt service.

In a joint declaration to the shareholders, joint presidents Mike Garlick and John Banaszkiewicz said: "when we took the responsibility of co-chairing, we said that we would be judiciously manage the finances of the club while keeping the club as competitive as possible. ''

Exceptional

"We are pleased to announce that, even if these accounts show a £7" 6 m loss before tax, most of it is due to additional, exceptional one-time costs that involves promotion.

"Without these one-off costs, we are very pleased to announce that the club would have been in a position of balance, keeping our promise made during the year.

"The season 2013/14 certainly remain as one of the best in the long history of the club, both in terms of performance on the field and off-field commercial and financial management."

The positive sentiment off the field was boosted by the news that striker in the country of Wales Sam Vokes came by another 70 minutes of his return in victory 5-3 Sheffield United development team.

Welsh, who played his first competitive match last week after eight months with a knee injury, made it three goals in two matches with a double against the blades.

Burnley climbed out of the relegation zone of the Premier League Tuesday on the back of three wins and a draw at home with Newcastle.

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