Source: PA
Black Cats announce £25M loss
Sunderland have announced a net loss of £25.5million for the year ending July 31 2010.
The Black Cats saw turnover increase slightly to £65.4million but operating expenses also went up, to £70.4million, resulting in a loss before player trading of £5million.
And player investment figures of £26.2million, which included the signing of 10 players on permanent deals and three more arriving on loan, contributed to the overall loss, which was £2million more than for the previous year.
"We are facing challenging economic times, both nationally and regionally," chief executive Steve Walton told www.safc.com. "However, our financial results do continue to reflect a continued period of growth and development for the club.
"There has been significant investment made to improve our playing squad and we are now starting to see the benefits of that investment.
"The continuing support of our owner also puts the club in a secure position, giving us a positive platform to continue to build on."
