SAFC: Third worst debt in UK to 2015

A UEFA report has revealed that Sunderland’s net debt at the end of the 2015 financial year was the 11th highest in European football – with onlyManchesterUnitedand QPR higher in Britain.

The UEFA Club Licensing Benchmark report claimed that Sunderland’s debt grew 36% year-on-year, to around £182million.

The accounts are now somewhat dated and the club have made concerted efforts to bring the debt down since then. However, with the change of FFP rules meaning the last three seasons of accounts are taken into consideration, these are relevant numbers that underline why Sunderland are unable to spend large amounts in the January transfer window.

There were positive developments in the report, with Sunderland one of the top 30 European clubs in terms of total revenue. That grew 7% year-on-year, an increase of £7m. The total revenue for the 2015 financial year was around £117m.

The report also showed that Sunderland are less dependent on TV income than many of their Premier League rivals. TV money was responsible for 68% of Sunderland’s overall income, less than Swansea, Crystal Palace, Stoke, Southampton and West Brom.

The report comes as no surprise after CEO Martin Bain spoke to the media before the new year to underline the club’s financial constraints. He underlined the importance of breaking the cycle of short-term decisions that had led the club to losing money on transfers and staff changes.