Dundee FC suffers £2.8 million loss after securing premiership promotion

Dundee FC has announced that it incurred a deficit of £2.8 million in the fiscal year culminating on May 31, 2023. The club's revenue also plunged by £1.7 million.

After emerging victorious in the Championship, the club earned a well-deserved promotion to the Scottish Premiership. However, ensuring that the team was equipped with the necessary resources to maintain their title-winning performance was quite costly.

Even though the organization's salaries decreased from £3.2 million in 2022 to slightly more than £3 million in 2023, the turnover also went down from £4.9 million to £3.2 million. Because of this, the proportion of wages to turnover increased drastically from 65% to 95%.

Dundee Football Club's owners, Football Partners Scotland, have paid the amount needed to make up for the shortage of funds and have confirmed their loyalty to the team. The group of senior officials who manage the club have received written assurance that more money will be provided when necessary.

Dundee FC has released a statement confirming that the financial accounts for the period ending on May 31, 2023 have been authorized and endorsed by the board of directors.

The owners were committed to advancing to the Premiership despite having a Championship budget.

The consequence of this was a monetary setback, however it was foreseen in order to restore Dundee Football Club to the uppermost league of Scottish football.

FPS will carry on offering financial assistance to the business.