Dundee United have reduced their losses for the 2017/18 season but are urging caution that the figure could rise again after a bumper spending in the January window.
The club today revealed their year-end financial results for June 30, 2018 with an overall loss of £218,993 reduced from 2017’s figure of £1,042,855.
A turnover reduction of £300,000 was offset by nearly £1 million in player sales and the six-figure sale of the GA Arena.
However, Tannadice managing director Mal Brannigan has warned big spending in the winter window means the 2019 results are likely to see higher losses.
He said: “While it is encouraging to see a marked improvement in the club’s financial results year on year, it is worth noting that these results are for the year ended 30 June, 2018.
“It is anticipated this trend will not continue in the current financial year, most significantly as a consequence of recent investment in the playing squad during the January transfer window.
“The change of ownership in December has also seen new investment in other areas of the club, which will be ongoing if it fits with the strategic objectives of the organisation, including the re-purchase of Gussie Park, the repositioning of the Academy and the rollout of future refurbishment projects.
“These investments will need to be financed by new and ongoing revenue generated by the operations of the club but ultimately underwritten by (owners) Mark and Scott Ogren.”