By David Owen
April 1 – Burnley, the small Premier League outfit from Lancashire with a reputation as one of the best-run clubs in the business, managed to remain narrowly in profit last year in a season featuring its first European campaign for more than half a century.
The Clarets posted a pre-tax profit of just £5 million for the year to end-June 2019, down from £45.1 million the previous season. Higher amortisation and a £23.7 million drop to £7 million in profits on player sales accounted for much of the difference.
Turnover edged down from £139 million to £137.8 million. While cash from TV rights was down quite sharply, from £121.5 million to £115 million, in the wake of a significantly lower league finish, commercial income climbed strongly from £7.4 million to £12.1 million.
Relatively good control over the wage bill was maintained, with overall remuneration up £5 million to £86.6 million. Cash generated by player sales rose to £19.4 million. This was still well below the amount actually disbursed on player purchases, which totalled £32.5 million.
While describing the future as “extremely bright”, Mike Garlick, chairman, focused much of his commentary on the coronavirus pandemic, which has to date left the season unable to be completed.
He said the club’s “immediate thoughts” were with “those dealing with the effects of the current on-going situation”. He went on: “We are working closely with the Premier League and the relevant authorities regarding footballing matters, while off the field making sure the club continues to operate effectively and all staff, family and fans stay as safe and healthy and well supported as possible.”
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