Dundee announce loss of almost £900,000 – and anticipate more to come

Dundee have announced a loss of nearly £900,000 for the 2021/22 season – and anticipate further losses to be revealed for the past year.

Those losses, though, will be covered by majority shareholder Football Partners Scotland (FPS), the club revealed in a statement.

Covid restrictions have been cited by the Dark Blues as the reason for the shortfall in the year up to May 2022.

A sizeable insurance pay-out alongside the government furlough scheme and James Anderson’s donation to the SPFL eased financial worries during restrictions.

On the field, Dundee struggled through a miserable season that ended in relegation from the Premiership.

The Dark Blues had come out of the pandemic with a profit of £74,279 after posting losses in the previous four years totalling over £3.3 million.

However, the emergence from the worst of the pandemic has seen the club’s finances tip back into the red.

‘Continue to provide financial support’

The club statement read: “The club recorded a loss of £892,440 with an overall deficit of £3,392,308.

“It is important to highlight the impact of Covid-19 and that restrictions were still in place affecting income and revenue.

“With a significantly reduced revenue from playing in the Championship, the directors are forecasting another loss for the year to 31 May 2023.

“Football Partners Scotland controls over 75% of the club’s shares and they will continue to provide the financial support for the company.

“The directors are extremely pleased that the club will once again be in the Scottish Premiership next season and would like to thank all of our supporters, staff, shareholders, and sponsors for their valued support as we continue to work towards building a successful team and a sustainable business.”

Staffing levels at the club rose by 16 employees to 59 for the financial year between 2021 and 2022.

That saw staff costs rise by over £1.3m from £2,259,800 to £3,581,201.

The club accounts can be viewed here.