Cardiff submit financial losses
Cardiff City have posted another year of account losses despite gaining promotion to Premier League.
The Bluebirds paid out £23million in bonuses for getting out of the Championship, although the riches for being in the top flight will be factored into next year’s balance sheets.
Cardiff’s squad wage bill rose after achieving the unexpected promotion under Neil Warnock, while other clubs stood to earn money as part of their players leaving to join Cardiff.
Player wages and salaries are approximately £31.2million, which is a £10. million increase on last season in the Championship, while big transfer outlays, including the club-record £1 million paid to Norwich City for winger Josh Murphy, have also been taken into account.
Vincent Tan has stuck to his word by continuing to write off loans that are owed to him by the club and has continued to pump more of his own cash into the operation.
In total, the pre-tax losses increased from £21.1million to £39.3million.
Cardiff are currently 18th in the tale but their 2-0 win against West Ham last Saturday breathed new life into their hopes of surviving in the Premier League for the first time.
Daniel McCarthy is a reporter who is very knowledgeable about football at all levels, and a keen Leeds United fan. He also follows darts, snooker, motorsport, and rugby league.