Vital Football

Latest Colchester United News

£2.6 Million Profit For U`s

£2.6 Million Profit For U`s

Colchester United have announced an all-time record profit for the 2006/7 campeign, off the back of their successful first season in the Championship.The news comes in the same month as United smashed the transfer record at least twice during the last window, signing four players.

The Evening Gazette and East Anglain Daily Times newspapers both gave a good summary of the impressive profit rise, comparing it favourably to the 2006 figure of just £18,633. The figures also showed that the amount of spare cash was most highly subsidised by the U`s high-profile outgoing dealings in the transfer market, although increased season-ticket sales and gate receipts in general, helped.

Therefore it is a relief to fans that the money left over at the end of the financial period has been wisely invested by the club in the new personal that manager Geraint Williams believes will mean avoiding a first relegation since 1990.

The EADT also gave the following summary of the account showings:

Season ticket holders grew from 1,800, in the promotion-winning season of 2005-06, to 3,500 for the club's first ever campaign in the second tier of the Football League. The revenue from season tickets more than doubled.

Attendances also rose, with the U's regularly attracting gates around the 6,000 mark.

But it was the income generated from transfers that was the biggest contributor to last term's profit margin, and more specifically the club record £2.5m banked for the sale of Greg Halford to Reading just over a year ago.

The U's also benefited from the compensation package received from Hull City for manager Phil Parkinson's departure to Humberside, while he was still under contract with United. That figure was around the £400,000 mark.


In the same article, club Chief Executive Marie Partner warned fans not to get carried away with the new figures, although it has emerged today that the Essex outfit will be exploring the loan market with a view to adding yet more faces in the squad.

"Stewarding costs are... going to double at the new ground. We have to finance the travel plans for supporters, with the new park-and-ride scheme, which is something that we haven't done before. We also have to bear a lot of other hidden costs, like all the signage for a five-mile radius around the ground," Partner explained.

Manager Geraint Williams was openly delighted with the figures.

Writer:Matt_Us
Date:Friday February 8 2008
Time: 12:15PM

Comments

0
good news, shows it's being run in the right way.
StevieG Col U
08/02/2008 14:25:00
0
Nice to see investment in the side, too.
Matt_Us
09/02/2008 12:15:00
Page 1/1
  1. 1

Login to post a comment

Best of Vital Network

Vital Boxing - Staged or Real?

Recent Colchester United Articles

Sky's 10 In 10 - Who Features?

Sky Sports being their festive 10 in 10 this week, so who features in the football screening overload for 2016/17?

500,000+ Season Tickets Sold In 2016/17

More than 500,000 Season Tickets were sold in the Football League pyramid for the 2016/17 season.

How Do Colchester Fare In The BBC's 2016 Survey?

The BBC's Price Of Football survey for 2016 was released a week last Wednesday evening and as ever they looked at everything from the price of tickets through to the price of pies...

McGreal In Team Of The Week (28/11/16)

Colchester United are represented in the latest Football League team of the week that has been selected after this week's action.

Archived Vital Colchester Articles

Vital Colchester articles from

Site Journalists

Write for Vital Colchester
Write For Vital Colchester
Apply Here

Current Poll (see more polls)

Colchester v Rochdale
Suggested By:
Colchester win38%
Rochdale win50%
Draw12%

League Table

# Team P W D L Pts. GD
1 Doncaster 19 12 3 4 39 14
2 Carlisle 19 10 8 1 38 14
3 Plymouth 19 12 2 5 38 8
4 Portsmouth 19 9 4 6 31 12
5 Luton 19 8 7 4 31 10
6 Yeovil 19 8 4 7 28 1
7 Wycombe 19 8 4 7 28 1
8 Blackpool 19 7 6 6 27 11
9 Stevenage 19 8 3 8 27 1
10 Barnet 19 6 9 4 27 0
11 Grimsby 19 7 5 7 26 2
12 Crewe 19 6 8 5 26 -3
13 Cambridge 19 7 4 8 25 -2
14 Mansfield 19 6 7 6 25 -4
15 Colchester 19 6 5 8 23 1
16 Crawley 19 6 5 8 23 -11
17 Morecambe 19 7 2 10 23 -13
18 Hartlepool 19 5 7 7 22 -4
19 Notts County 19 6 4 9 22 -8
20 Accrington 19 5 6 8 21 -5
21 Exeter 19 6 2 11 20 -5
22 Leyton Orient 19 5 3 11 18 -5
23 Cheltenham 19 3 9 7 18 -8
24 Newport 19 4 5 10 17 -7
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Colchester United Results (view all)

Colchester United Fixtures (view all)

Dec 10 2016 3:00PM : Mansfield Town (a)
Sky Bet League Two
Dec 17 2016 3:00PM : Notts County (H)
Sky Bet League Two
Dec 26 2016 3:00PM : Luton Town (a)
Sky Bet League Two
Dec 31 2016 3:00PM : Stevenage (a)
Sky Bet League Two
Jan 2 2017 3:00PM : Cheltenham Town (H)
Sky Bet League Two
Jan 7 2017 3:00PM : Carlisle United (H)
Sky Bet League Two
Vital Football Comment