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Rodriguez record sale helps Clarets post profit
1:16pm Wednesday 21st November 2012 in Football
A CLUB record £7million sale of Jay Rodriguez has led to Burnley reporting a £3.16million profit for the last financial year.
The Clarets had a £4m shortfall for the previous 12 months, but the coffers have since been boosted by a total transfer profit of £8.5million.
A portion of that was reinvested into the squad with the purchase of captain Jason Shackell in the summer, along with Sam Vokes, Brian Stock, Luke O’Neill and George Porter in the summer, while Kieran Trippier and Ben Mee were signed on permanent deals in January 2012, following successful loan spells from Manchester City.
In a statement to shareholders, joint chairmen Mike Garlick and John Banszkiewicz said: “This player trading remains a cornerstone of how the club balances its books.
“Despite recording an operating loss for the year, the transfer fee we received for Jay Rodriguez meant we were able to convert this loss for the year into a profit and provide the basis for supporting ourselves in 2012/13.”
Although turnover fell by £4m to £23m - due largely to a reduction in Premier League parachute payments and falling attendances - Burnley have worked hard to reduce the wage bill by around £2.5m.