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Wigan Athletic narrows losses

Wage bill down too as Whelan worries on relegation

Published on March 3rd 2011.


Wigan Athletic narrows losses

Wigan Athletic FC made a pre-tax loss of nearly £4m in 2010, although the club did manage to cut its wage bill by around £3m.

Overall staff costs dropped to £39m as the club slipped to 16th in the Premier League, after finishing 11th the season before. In the 09/10 season, the club had 50 playing and coaching staff, three more than the previous season. The lower position also saw Wigan’s TV money drop by £3m to £21m.

The club’s debt has risen to £72.5m but chairman and pie magnate David Whelan is planning a £48m debt for equity swap that will see new the shares replace debt due to his other companies.

With Roberto Martinez taking the position of club manager last season, the club’s fifth term in the Premier League brought a turnover of £43m, a drop of £3m on the year before.

Match day ticket sales dropped by £1m to £3.8m, as the average attendance dropped slightly to just below 18,000.

‘Despite the loss of a number of high profile players, we have been fortunate to see the emergence of a new team that has been recruited from all over the world, with the emphasis on youth and quality,’ said Whelan.

He said this season would be ‘exciting and unpredictable,’ although the side is currently rooted to the bottom of the league.

He said Wigan’s off the field finances would be run on ‘sound and sensible principles’ and the club would look to reduce its debt.

The debt for equity swap is being carried out so Wigan will adhere to new financial rules being introduced by FIFA.

The club saidit was also continuing to help HM Revenue & Customs with their enquiry into ‘the correct operation of PAYE/NI on certain payments and expenses made to or on behalf of our employees.’

The club said no agreement had been reached and no liabilities admitted.

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