By Mark Baber
January 31 – Fulham chairman, Mohamed Al Fayed, has converted his £212m in loans to the club into equity, leaving Fulham effectively debt-free.
The club reported an operating profit of £1.2m on revenues of £79.3m for the year ending 30 June 2012, a figure boosted by £3.4m generated from participation in last season’s Europa League.
The overall stadium occupancy figure at Craven Cottage has risen to a record 98.4%.
Al Fayed, whose wealth is now estimated at $1.2 billion, said: “Fulham continues to make great strides and, following planning permission for the redevelopment of the Riverside Stand, we will continue to prosper and grow.”
The London club, situated on the bank of the Thames River in west London, will rebuild the Riverside Stand, increasing the stadium capacity from 25,700 to 30,000.
The Fulham chairman, who sold Harrods to Qatar Holdings in 2010, said: “For almost the last 15 years, I have ensured the club moves in the right direction and remains true to our proud history, strong heritage and past traditions.”
Fulham currently sit 14th in the Premier League and Al Fayed insists that the club are “working hard” to bring in new players, but warns this might be difficult before the 11pm transfer deadline tonight.
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