Source: Team_Talk
North End announce financial losses
The Championship outfit have seen a 25% increase in staff costs from £8.99million to £11.24million which was "almost all attributable to increases in players' wages".[LNB]However, these losses do not include the sales of former captain Paul McKenna to Nottingham Forest for £750,000 or the impending £4.5million transfer of Sean St Ledger to Middlesbrough.[LNB]Chairman Derek Shaw, who admitted the club had been kept afloat by loans from major shareholders, said: "It is becoming increasingly difficult to continue to meet the expectations of fans who want the club to be competing for promotion every year.[LNB]"Of course we all want to see this level of success, however the competition from the relegated Premier League sides and their financial resources makes this extremely difficult."[LNB][LNB]