Albion announce Premier League profit after years of losses
1 DAY AGO - Albion are celebrating a £1 million per week boost to their financial fortunes in their first year
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1 DAY AGO - Albion are celebrating a £1 million per week boost to their financial fortunes in their first year in the Premier League. The Seagulls have announced a profit, after tax, of £11.3 million for 2017-18. That compares with a £38.9 million loss the year before, when they were promoted from the Championship. It is the first time Albion have been in the black for a decade. Turnover soared by 377 per cent from £29.2 million to £139.4 million due to broadcast income, sell-out crowds at the Amex and improved commercial revenues. Costs also climbed dramatically from £59.3 million to £130 million. More than £59 million was spent on improving Chris Hughton's squad, together with a hike in the wage bill. Albion achieved the transformation in their financial position without cashing in on any of their best players. They were last in the black in 2008, when they made a £1 million profit in League One at Withdean. They had accumulated losses in excess of £100 million following the move to
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