Swansea City reveal £14.6m profit

Swansea City reveal £14.6m profit
© PA Photos
Premier League football helps Welsh side Swansea City record a profit of £14.6m.

Premier League side Swansea City are preparing to announce a profit of £14.6m.

The Swans, who almost went out of business in 2002, recorded a loss of £8.3m during their promotion season from the Championship in 2011.

However, despite almost doubling the wages that they pay out, the Welsh club have benefited from playing in England's top division.

"Swansea City is set to confirm a profit of £14.6m following their debut campaign in the Barclays Premier League," read a club statement. "The club is shortly due to release its full accounts for the year ending May 31, 2012, which reflects the club's successful first season in the Premier League with a 11th-place finish.

"The directors' review of the business is set to reveal a turnover of £65.2m, which aptly demonstrates the reward of achieving Premier League status, and a net profit after taxation of £14.6m, despite operating costs, particularly wages, being double those of the previous year.

"The directors will reiterate their resolve to continue to manage budgets which should produce a level of profit capable of generating sufficient cash to fund future growth and capital investment plans."

It was also confirmed that £5m of that profit was received from Liverpool as compensation for manager Brendan Rodgers.

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TeamPWDLFAGDPTS
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2Manchester UnitedMan Utd23155348163250
3Liverpool23138254282647
4Chelsea23145441162547
5Tottenham HotspurSpurs23135546212544
6Arsenal23116641301139
7Burnley239771920-134
8Leicester CityLeicester238783432231
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10Watford2375113342-926
11West Ham UnitedWest Ham2367102941-1225
12Crystal Palace2367102133-1225
13Bournemouth2366112435-1124
14Huddersfield TownHuddersfield2366111939-2024
15Newcastle UnitedNewcastle2365122131-1023
16Brighton & Hove AlbionBrighton2358101729-1223
17Southampton2349102334-1121
18Stoke CityStoke2355132350-2720
19West Bromwich AlbionWest Brom23310101830-1219
20Swansea CitySwansea2345141435-2117
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