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
Thu 8th Dec 2016 | Money & Finance
Image rights pose a significant risk to football according to HMRC chief executive, Jon Thompson. Thompson’s warning comes after it emerged Manchester United manager, Jose Mourinho and Real...
Thu 1st Dec 2016 | Money & Finance
Despite being the EU’s smallest member state, Malta has been in the spotlight as one of the top countries to consider doing business in and benefit from special tax status residency programmes....
Tue 22nd Nov 2016 | Money & Finance
In previous posts we’ve been discussing the topic of sports sponsorship; and how sponsors and sports teams alike can implement our technology to assist in leveraging their sponsorship...