Blades make £5.7m profit after drop from Premier
Sheffield United have turned a substantial loss into a healthy profit since their exit from the Premier League, it has been announced.
After a shortfall of 6.3m in the previous 12 months, United have returned a profit of 5.7m in the last financial year.
Football debts have been all but flattened. From owing a little under 11.5m in 2008, the current borrowings are just 2.3m.
The figures reflect chairman Kevin McCabe's emphasis on the need for football to act responsibly in the face of a recession. In this he is taking a lead, though the Bramall Lane chief is also determined to maintain a competitive budget in a bid for promotion back to the top flight.
McCabe said: "The world has changed and in leading Sheffield United in these difficult economic times the ability to adapt to change is vital in order to maintain the safe running of our famous club.
"On the pitch last season we were still in with a chance of automatic promotion but, for the fourth time in the last 12 years, promotion back to the Premier League via the play-offs, eluded the Blades."
Looking ahead, McCabe commented: "In simple terms, we must all pull together again in order to achieve our aim of getting back to where we belong.
"The playing squad has been strengthened in several key areas to accommodate our objectives for this season, adding quality to the first team in a manner to suit the need to steadily reduce the annual player wage bill.
"The parachute funding from the Premier League ceased at the end of last season and thus the management of the football team has to be achieved within its budget.
"But make no bones about it, the budget Sheffield United has is well in excess of the majority of our competitors in the Championship.
"Let's hope that United get the 'rub of the green' which, for whatever reason, so often seems to elude us as there is no one striving harder than Sheffield United to be back amongst the highest echelon of English football."
Another, more far-reaching development has seen the appointment of a chief executive in Trevor Birch, who made his name in troubleshooting roles at Chelsea and Leeds where he worked previously with Blackwell.
Birch, a former pro player, will take the executive strain off chairman Kevin McCabe and add his expertise to the search for an investor, having made headlines for helping to bring Roman Abramovich to Stamford Bridge.
Manager Kevin Blackwell welcomed the move, saying: "I'm looking forward to working with Trevor. He's very level-headed, calm and a football man. It helps when people know the game as well."
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Weather for Sheffield
Tuesday 07 February 2012
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