Dundee United’s annual meeting at Tannadice today will confirm the cost of trying to get out of the Championship.
Figures contained in a document sent to shareholders has shown that the Tangerines are operating a wage bill of £4,159,060 on a turnover of £3,124, 236. That puts the wage to turnover ratio at 133%.
The operating loss to June 2019 is understood to be £3,759,220 million.
“The significant loss emphasises the level of financial investment made by Mark Ogren to the club,” said a board statement.
“(It also) includes the costs associated with undertaking the restructuring that was required, including a complete overhaul of the first-team playing squad and coaching staff, and restructuring the academy.”
The losses have been factored in by American owner Ogren, who has continued to spend big on the club since the period covered by the figures.
Earlier this month, new contracts were handed to manager Robbie Neilson, coaches Gordon Forrest and Lee McCulloch, as well as young frontman Louis Appere.
Ogren also went above and beyond to secure the services of star striker Lawrence Shankland in July.
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Shankland’s salary is not included in these financial figures but, having scored his 16th goal for the team in Saturday’s 2-0 win over Dunfermline, Tannadice officials see that as money very well spent.
That Ogren is investing so heavily in a bid to get United back to the top flight at the end of this season is not news.
In an interview with Courier Sport back in August, he was very open about how expensive his new venture is proving to be.
He said then: “The plan is to win the league and all our focus is on that.
“We have planned accordingly and funded appropriately.
“Also, we had our board meeting on Wednesday there and passed our budget and we are set to lose a significant amount of money this year as well.
“It is not something that I am pleased with.
“We feel, though, looking at everything, we can’t manage the club as if we are going to stay in the Championship.”
