WBA announce half year results

28 March 2002

Just as the League is thrown into financial chaos following the Court Order to put ITV Digital into administration, West Bromwich Albion plc have announced their results for the six months ending last December. The results show a continuation of the improvements made to the Club's financial health under Chairman Paul Thompson, and state that a dividend of £1.60 will be paid, to all recorded shareholders, on 6th June this year. A summary of the figures is included as follows:

In the accompanying text, Paul Thompson goes on to restate the current transfer fund of £2.3 million and his views on how the Club should be run for the future:

"It is vital to the future success of the Club that the current Board?s policies are pursued and that the pressures from the media and from a section of our supporters do not deflect the Board from the current policies which are now delivering success following on from the previous fifteen years of under-performance by the Club. Those who want to return the Club to the days of wasting money on transfers and allowing transfers to be conducted without proper control and consideration, risk jeopardising the future of the Club and risk setting us back several years."

"Unfortunately, some of the national newspapers do not appear to understand how the larger more successful football clubs work and they often give supporters the impression that clubs are run by the Manager with Directors being constantly challenged to back the Manager and do as he says. Some clubs are run by the Manager and as the challenges have increased many of these clubs are facing severe financial difficulties and are dropping down the leagues. "

"At successful clubs the Manager operates and coaches the first team squad and the Directors run the club. Since the Directors started running our Club professionally 27 months ago, the Club has made considerable progress."

The report also states that of the £8.7 million generated from the sale of Maresca, Hughes, Gabbidon, Evans and Richards, £8.5 million has been re-invested in a total of 17 new players, transforming the squad in the process.

The total pre-tax profit of £3.9 million would seem to leave the Club well placed to survive the fallout of the TV money negotiations if they are unlucky enough to remain in Division One next season.

Previous Stories:

  27 March 2002:  ITV Digital applies for Administration

  27 March 2002:  Koumas says "no", say Tranmere

  27 March 2002:  Transfer roundup

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