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Sunderland AFC reports £25.5m annual loss
By Pete Hayman
Sunderland AFC has posted a net loss of £25.5m for the year ending 31 July 2010, despite an increase in turnover for the period.
Steve Walton, the Premier League club's chief executive, said the financial results reflected a "continued period of growth and development for the club". Sunderland owner Ellis Short has also converted £19m worth of loans into shares, while the club's operating expenses climbed to £70.4m.
In Scotland, Glasgow Celtic Football Club reported pre-tax profits of £7.06m for the half year ending 31 December 2010, compared with £1.27m for the same period in 2009. The Scottish Premier League club also reported a 21.4 per cent and a 12.5 per cent fall in turnover and operating costs respectively.
Sunderland AFC has posted a net loss of £25.5m for the year ending 31 July 2010, despite an increase in turnover for the period.
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