Burnley Break Even in Pandemic means ALK has inherited a smartly run club – The Athletic

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Another year and another impressive record from Burnley. they Break even for the 2019-20 season, a decrease from last year profit of nearly £ 5 million before tax.

But when you dig deeper, that wasn’t really the standout number. At the end of July 2020, Burnley had nearly £ 80.5 million in cash in the bank, up from £ 41.6 million 13 months earlier.

It’s an amazing amount for a club the size of Burnley and a a great testimony to the very careful and sustainable approach of the former board of directors to put the club in such a strong financial position.

Credit must go to the former Burnley board of directors, led by Mike Garlick, who continued to hold the club out of debt prior to the takeover. None of the directors (including Barry Kilby, John Banaszkiewicz, Clive Holt, Brendan Flood, Brian Nelson and Terry Crabb) took any salaries, dividends or bonuses.

Ultimately, they put the club in an attractive position for prospective owners. ALK was impressed with how well the club was run, a big part of why they targeted Burnley to buy. They want to continue this method of sustainability and believe that they can take the club to the next level.

Burnley decided under a one-off circumstance to extend its billing cycle to 13 months (through July 31, 2020) as the Premier League season lasted until July due to the COVID-19 pandemic to enable a comparable comparison with previous years .

By extending the year-end into July, Burnley was able to include a large payment of Premier League TV money that would normally have fallen into this season’s accounts.


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