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 – email@example.com
Tue 18th Oct 2016 | Money & Finance
Manchester City has reported a £20.5m profit and record revenues of £391.8million in their latest annual report. The figures, announced today, show for the eighth successive season an...
Fri 7th Oct 2016 | Money & Finance
Sport Value Credit Management (SVCM) has once again been very active during this summer’s transfer market closing many transactions with Champions League and/ or listed clubs. Leveraging on a...
Mon 3rd Oct 2016 | Money & Finance
Football clubs in Holland are finding it increasingly difficult to compete financially with England’s second tier according to Arsenal’s former Dutch winger, Marc Overmars but ruled out a...