Dundee United have announced a seven-figure loss after enduring a second season in the Championship.
However, they have managed to cut their annual losses to £1 million – largely through a tightening of the belt at Tannadice to the tune of some £2.2 million.
Today saw the Tangerines publish their accounts for the year end June 30, 2017.
They revealed a loss of £1 million, down by £500,000 on the previous year.
United also reported their time in Scottish football’s second tier has seen revenue drop by some 24%.
And there has been no attempt to disguise the fact being out of the Premiership since 2016 has been tough.
That was made clear in a club statement issued this afternoon.
“Dundee United continues to battle the effects of Championship football and the severe financial disparity when compared to participation in the Premiership,” it read.
“Promotion to the Premiership therefore remains the priority for the club and the board remains committed to financing the infrastructure and resource required to provide the best opportunity possible for that outcome.
“The board remains confident that a combination of new revenue streams, including investment in new and improved match day hospitality facilities, balanced with further selective loan finance and carefully targeted cost-cutting will enhance the club’s Premiership ambitions while addressing the company’s current financial challenges.”
In the last ten years United have also managed to reduced their overall debt from £7.3 million to £1.8 million.
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