Dundee United accounts: Tannadice club make profit
- Published
Mark Ogren has now put in about £10m to United since taking control in December 2018
Dundee United made a profit of £300,000 in their 2021-22 accounts - a rise of more than £2.8m on the previous year.
The Tannadice club lost £2.5m in the year to June 2021 and their wages-to-turnover ratio rose to 132%.
But for their year ended June 2022, turnover more than doubled to £8.3m and despite wage costs rising 18% to £5.9m, the wage-turnover ratio fell to 71%.
The new accounts include a £600,000 Covid insurance payout as well as a £100,000 Scottish government grant.
The transfers of Scotland striker Lawrence Shankland to Belgian club Beerschot and young forward Kerr Smith to Aston Villa are included in the figures and are the key parts of the £1.3m profit United made on the sale of players for that period.
The figures are a significant improvement on recent financial performance, with the 2019-20 accounts showing United lost £3m with a wage-turnover ratio of 120%.
The 2021-22 balance sheet also shows chairman Mark Ogren has now put in about £10m since taking control of the club in December 2018.
"The success on-field in achieving our objective and indeed exceeding our expectations by finishing 4th led to qualification for Uefa competition," said the American.
"This was achieved while also ensuring that one of our core strategies of developing homegrown talent was highlighted by the reward of match time for 17 Academy graduates.
"Alongside developing our own players internally, player trading remains a significant element of the financial sustainability of the club.
"The profit of £1.3m on the sale of players while maintaining on-field success and maintaining a strong, competitive squad was achieved by sporting director Tony Asghar and the football department."
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