Wolves announce pre-tax profit

Wolves have announced that they have recorded a pre-tax profit of £5.8m for the 2015/16 season.

The 2015/16 season was final under former owner Steve Morgan. Home attendances fell by 10% during the season, which was the second back in the Championship. Despite this, the sale of Benik Afobe for a reported fee of £10m helped to achieve the profit.

The year ending May 2016 was also the last year that Wolves received their parachute payment of £10.8m following their relegation from the Premier League.

The club say this loss of income will be offset by an increase in money from the English Football League in 2017 and increased revenue from TV rights.

JC