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Wigan Athletic FC’s first ever appearance in Europe brought in £3.2m but it still wasn’t enough to offset the significant impact of relegation from the Premier League in 2013/14, according to the club’s latest set of accounts.
Chairman Dave Whelan said the season would be remembered for a number of disappointments despite the “historic” opportunity for the Latics to make their name on the continent.
In the year ending 31 May 2014, Wigan Athletic generated a turnover of £37m, which represents a 34 per cent year-on-year fall. Of this, £3.2m came from UEFA cup competition in Europe.
Premier League revenues were down from £44.5m in 2012/13 when the Latics were still in the top tier to £25.5m parachute payments in 2013/14, although the club also reported £1.9m in Football League revenues. And domestic cup competition turnover declined from £4m to £1.7m.
During the 2013/14 season covered by these results, Wigan Athletic played six matches in the Europa League, having qualified by virtue of winning the FA Cup for the first time in their history the previous season. They also reached the semi-final of the FA Cup before being knocked out by Arsenal on penalties at Wembley Stadium.
In his chairman’s report accompanying the accounts, Whelan said: “Financially, the impact of relegation was significant and despite income generated from the Europa League and the FA Cup, the club suffered a 34 per cent decrease in turnover, which reduced to £37m for the year and included £25.5m parachute payments received from the Premier League.
“A substantial reduction in salaries achieved by contractual reductions and player trading achieved a 31 per cent decrease in salaries and a profit on player sales of £13.4m meant that we were able to post a net profit for the third consecutive year.”
During the summer of 2013, manager Roberto Martinez left for Everton FC and Wigan Athletic ‘reluctantly’ sold James McCarthy and Arouna Kone to the Merseyside club for a combined total of £19m. The Latics also invested more than £5m in new players Grant Holt, James Perch, Scott Carson and James McLean.
Martinez was succeeded by Owen Coyle, who was himself replaced by Uwe Rosler in December after compensation was agreed with Brentford FC.
Elsewhere, the accounts confirm that Wigan Athletic posted pre-tax profits of £2.6m in 2013/14 compared to £821,654 a year earlier. That was helped by staff costs, including players and backroom staff, falling by 31 per cent to £30.1m.
Whelan added: “The year to May 2014 will be remembered for a number of disappointments in the FA Cup semi-final, European elimination and defeat in the Football League play-offs. However, the season was once again historic as the club represented the town in Russia, Slovenia and Belgium and once again graced Wembley Stadium in domestic showpiece opportunities.”
Wigan Athletic, now managed by former Cardiff City FC manager Malky Mackay, currently sit in the Championship relegation zone.
A spokesman for Wigan Athletic told Insider: “Any team relegated from the Premier League faces a challenge to strike a balance between trimming costs and financing a playing squad capable of challenging for promotion. Despite not having Premier League money, the club continues to be in a healthy financial state, posting a profit for the third year running.
“A first ever Europa League campaign, a run to the FA Cup semi-finals and a Championship play-off semi-final made it another unforgettable season on the pitch, albeit one that ended in disappointment.”
Obvious total fabrication as everyone here knows that we have been making huge profits from the sale of players which Whelan has stuck in his back pocket. Running costs can’t be counted as they would represent a possible place where the money could have been spent, and the profit we have made needs to be spent wildly on buying [insert name of striker of choice].
The fact that our club will at least be financially viable whatever happens should be vigorously resisted as an argument, and possibly even derided.
Obviously if your income is down 34% in income cost’s must be cut hence the fire sale comments being banded about on twitter and various tic’s sites and DW stated “”A substantial reduction in salaries achieved by contractual reductions and player trading achieved a 31 per cent decrease in salaries and a profit on player sales of £13.4m meant that we were able to post a net profit for the third consecutive year.”
A question needs answering though as DW stated the players wages were reduced for the first season in the Championship could they have been reduced further for our second season in the championship which could explain some players not performing up to the standards that we are used to and evidently couldn’t wait to get the phook out of the place and also the new wage structure would it seem prevent us from getting the same standard of player in ?
Not sure the wages would necessarily have to be reduced again for that result.
Our “stars” would have perhaps accepted one season at reduced wages, with the prospect of getting back into the PL, and believing that may be a better option for them than moving elsewhere where they would have been benchwarming.
But come a second season at the (same) lower rate then they would as you say want to be off.
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