Source: FOOTYMAD
Latics lost £1.524m
Corney - "These are challenging times" The Latics [Oldham Athletic (2004) AFC Limited] have lost £1.524m. for the year ended 31st. December 2009. The accounts for the previous year showed a deficit of £414,000 and increasing debt is a worrying factor for everyone associated with the club. Significantly, there was a £277,000 reduction in turnover to £3.260m caused mainly by a reduction in match day and commercial income. These figures show an operating loss of £1.275m. compared with £1.012m. from the previous year. There was also an exceptional write off of £550,000 which relates to the work which has been carried out on the planning application for the development of Boundary Park. The club's net current liabilities stood at £4.63m. compared to £3.57m. for the previpus year.Chairman Simon Corney (pictured) admitted that these are "challenging times" and commented, "We are not alone and Football League clubs in general are struggling - just look at the attendances last weekend at Hartlepool, Rochdale and Walsall. People talk about the have and have nots in the Premier League in terms of Manchester United and City compared to Bolton and Blackburn. We also have them in our division with the likes of Sheffield Wednesday and Charlton spending three times as much as we are doing which makes life harder and harder."
