Mark Ogren has confidently predicted Dundee United will be profit-making next season – despite losing more than £2.5million last year.
The chairman announced the numbers ahead of their annual general meeting.
The American has ploughed millions into United since he came in, getting them out of the Championship and making them one of the main forces in the Premiership.
Ogren believes the club is becoming more self-sustainable and that has been shown as next year’s figures will include the sales of Kerr Smith and Lawrence Shankland that could net the club in excess of £2 million.
Ogren, speaking in his club’s strategic report, said: “The board is confident, looking forward without the detrimental impact of Covid-19 that the club will be in a much stronger financial position and will no longer be reporting significant operating losses.
“With the easing of many of the restrictions related to football stadiums in August 2021, the internal financial projections for the year to 30 June 2022 are predicting a return to a more normal trading period, and with the benefit of the season ticket credit donations we expect to report an operating profit for the year.”
United’s turnover was down slightly to £3.79 million compared to £3.91 the previous season, although covid also had a major impact on those figures.
Ogren, however, has continued to back sporting director Tony Asghar and the wages to turnover ratio has risen from 120% to 132% but the operating loss of the club has dropped from £3.19m to £2.27m.
United’s accounts also show that they received a £1.5m insurance pay-out from their business interruption policy which was also received after the financial year closed and that figure is expected to rise even further.
