Post by QPR Report on Feb 12, 2009 13:00:22 GMT
BBC Argyle turn in £1 million profit
Plymouth Argyle have announced that the club made a £1.1 million profit last financial year, a turnaround from a £700,000 loss 12 months earlier.
The profits, for the year to 31 May 2008, came off the back of a record £3.8 million profit from transfers.
Argyle sold the likes of Sylvan Ebanks-Blake, David Norris and Dan Gosling in multi-million pound deals.
But the club also paid out a record fee of £500,000 for Steve MacLean and had a record wage bill.
The period does not cover the summer of 2008 when Argyle sold Peter Halmosi to Hull City for a reported fee of £2 million and signed Simon Walton from QPR for a potential club record fee of up to £750,000.
Argyle's major transfers 2007-08
IN
Dan Gosling to Everton - £2 million
David Norris to Ipswich Town - £2 million
Sylvan Ebanks-Blake to Wolves - £1.5 million
Akos Buzsaky to QPR - £500,000
OUT
Steve MacLean from Cardiff City - £500,000
Jim Paterson from Motherwell - £250,000
Jermaine Easter from Wycombe - £210,000
Chris Clark from Aberdeen - £200,000
Yoann Folly from Sheff Wed - £200,000
Jamie Mackie from Exeter City - £145,000
"It was an unusual year for us in some respects in that we had a significant amount of transfer fees received - and then paid transfer monies out - and we deliberately paid extra wage-costs from January onwards to try and maintain our challenge for the play-offs," chairman Paul Stapleton told the club website.
And Stapleton added that transfer income will be crucial if the club, which has some of the lowest gates in the Championship, is to survive.
"It is a sign of the times in our division that transfer fees help bail out the trading concern for the clubs. It's even more important now, with our current gates, and credit crisis."
And Stapleton believes that with so many sides in the Championship enjoying parachute payments from spells in the Premier League, Argyle's lack of financial clout will continue.
"We've never got into the Premier League," Stapleton said. "We're trying to do it the right way, and it's getting harder.
Plymouth Argyle have announced that the club made a £1.1 million profit last financial year, a turnaround from a £700,000 loss 12 months earlier.
The profits, for the year to 31 May 2008, came off the back of a record £3.8 million profit from transfers.
Argyle sold the likes of Sylvan Ebanks-Blake, David Norris and Dan Gosling in multi-million pound deals.
But the club also paid out a record fee of £500,000 for Steve MacLean and had a record wage bill.
The period does not cover the summer of 2008 when Argyle sold Peter Halmosi to Hull City for a reported fee of £2 million and signed Simon Walton from QPR for a potential club record fee of up to £750,000.
Argyle's major transfers 2007-08
IN
Dan Gosling to Everton - £2 million
David Norris to Ipswich Town - £2 million
Sylvan Ebanks-Blake to Wolves - £1.5 million
Akos Buzsaky to QPR - £500,000
OUT
Steve MacLean from Cardiff City - £500,000
Jim Paterson from Motherwell - £250,000
Jermaine Easter from Wycombe - £210,000
Chris Clark from Aberdeen - £200,000
Yoann Folly from Sheff Wed - £200,000
Jamie Mackie from Exeter City - £145,000
"It was an unusual year for us in some respects in that we had a significant amount of transfer fees received - and then paid transfer monies out - and we deliberately paid extra wage-costs from January onwards to try and maintain our challenge for the play-offs," chairman Paul Stapleton told the club website.
And Stapleton added that transfer income will be crucial if the club, which has some of the lowest gates in the Championship, is to survive.
"It is a sign of the times in our division that transfer fees help bail out the trading concern for the clubs. It's even more important now, with our current gates, and credit crisis."
And Stapleton believes that with so many sides in the Championship enjoying parachute payments from spells in the Premier League, Argyle's lack of financial clout will continue.
"We've never got into the Premier League," Stapleton said. "We're trying to do it the right way, and it's getting harder.