Scunthorpe United announce £2.6 million loss
Scunthorpe United have announced that they have made a loss of £2.6 million for the last financial year, however, this a decrease from a £3.2 million loss in the previous year.
The club have reported on their website that the board have said there was a loss of £2.6 million after tax compared with the £3.2 million loss for the previous year.
Income has increased by nearly 20% from £3.1 million to £3.7 million. Although there were many reasons for the increase the main reason has been down to their FA Cup third round tie against Chelsea in January which was broadcast live on BT Sports.
There were also increases in commercial income (64%) and sponsorship (30%). The sponsorship increased despite Scunthorpe donating their shirt sponsorship to Prosate Cancer, this means that the like for like increase in sponsorship income was 86%.
Expenditure on the new stadium construction which is due to open next season was £820,000 taking the total at June 30 to £1.3 million, while the player wage bill for the season was £2.5 million.