Sheffield Wednesday Losing £5m A Year
Mon 10th Jun 2013 | Money & Finance
Milan Mandaric claims Sheffield Wednesday are currently losing around £5m a year.
Speaking to BBC Radio Sheffield, the former Leicester City and Portsmouth FC owner said that the club was losing the money as they serviced its debts.
"This club is losing money, probably around £5million and next year won't be any different," he told the station.”
But Mandaric played down speculation that he was seeking an immediate buyer for the Championship club.
"I'm not just looking for any buyer, I'm looking for the right buyer who can take this club where it wants to go,” he added.
"There are a lot of people who come and have a look at the club but we're not pushing to sell the club at the moment.
"I said before if someone proper comes along and they are the right person for the club then I will step aside.
"I sold Leicester for less money than what I had invested but they were the right people and I felt like my mission was completed."
Posted by: Aaron Gourley
To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.
If you have any football business related news stories you’d like to share then please contact us – firstname.lastname@example.org
Wed 27th Apr 2016 | Money & Finance
Whenever a star player is not playing up to his potential, the vultures come out in the form of media critics who try to dissect what could be going wrong. This is doubly true if said player is on an...
Fri 15th Apr 2016 | Money & Finance
Premier League clubs have recorded a second consecutive year of aggregate pre-tax profits, the first time since 1999. According to Deloitte, the business advisory firm, the league’s twenty clubs...
Wed 6th Apr 2016 | Money & Finance
Newcastle United made a profit of over £30m after tax according to their latest financial results for the year ended 30th June, 2015. The club, that finds itself in 19 th position in the Premier...