SHEFFIELD WEDNESDAY have reported a pre-tax profit of £2.58million in their latest set of accounts, with figures also revealing that the club made a £38.1m profit from the sale of their Hillsborough home.
The profit for the period from June 1, 2017 to July 31, 2018 - covering a 14-month set of accounts – contrasts with a big £20.8m loss for the previous season.
The Owls reportedly sold their ground to owner Dejphon Chansiri earlier this year before leasing it back in order to meet the Football League’s profitability and sustainability rules that prevent clubs from recording losses of more than £39 million over three years.
The accounts reveal that on June 14, 2019, Sheffield Wednesday Football Club Ltd became a wholly-owned subsidiary of Sheffield Wednesday Holdings Ltd, a company registered in Hong Kong.
Figures also revealed that turnover increased to £25.2m from £23.4m – with £1.2m being due to extending the financial year by two months.
The club’s wage bill increased to £37.4m from £26m the previous season. A total of £12.9m was spent on incoming transfers, with £2.7m made on sales.
A £10.9m loss was also recorded on the amortisation of player registrations.
Income from match receipts and associated turnover grew to £18.1m from £16.8m, with income from commercial activities up to £7.1m from £6.5m.