Fulham FC has reported a £7.5 million loss for the 2007-2008 season, following £15.2m losses the year before. For the 2007-08 season, Fulham FC reported a revenue of £52 million, a 35% increase from just one year prior.
The importance of avoiding relegation in the last game of the season last year was illustrated by the fact that Fulham received an extra £10 million in Premier League “central awards”, including hefty broadcasting funds shelled out by Sky.
Despite the fact that Fulham FC remains in the red, owner Mohamed Fayed was quick to remind supporters that the club’s current status shows an exceptional improvement over last year’s figures. Within the past year, Fulham FC has managed to slash its former £15.2 million deficit by more than half, the brunt of which has been attributed to the central awards.
“I own the best club in the world, with the best team and the best fans,” Fayed told the club’s official site. “I want to reassure people of this, because sometimes there are naughty rumors that I may sell the club.
“I am not going to give up on other things in the game either. Take my crusade against sky-high players’ wages. Our expenses bill rose by 17 per cent last year. How can it be right for top players to be earning £15, £20 million a year? It’s crazy. These wages need to be capped.”
According to Brewin Dolphin Investment Banking director Vinay Bedi, Fulham will continue to enjoy the surge in revenue by using “commercial common sense”. Bedi further indicated that Fayed would be prepared to sell the club at the right price, noting that Fulham could use a new ground.
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