Sigurdsson sale not enough to prevent dive into loss for relegated Swansea

By David Owen

April 22 – Swansea City have reported a pre-tax loss of £3.2 million for the year to 31 July 2018, the club’s relegation season.

The loss came in spite of what should have been bumper profits from player sales, with Gylfi Sigurdsson, the Swans’ Icelandic playmaker, sold to Everton for a fee thought to have been in the vicinity of £40 million and Spanish striker Fernando Llorente offloaded to Tottenham.

While detailed analysis will need to await arrival of the Welsh club’s accounts at Companies House, not even these gains appear to have been sufficient altogether to erase a near £50 million operating deficit, with operating costs, including amortisation, climbing well over £20 million to £175.1 million and turnover edging down to £126.8 million.

Staff costs were kept under good control at £90.7 million, down from £98.7 million in 2016-17.

The loss compared with a pre-tax profit of £13.4 million the previous year. This was again thanks to a large £36.9 million gain on player sales, which more than wiped out a £23 million operating loss.

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