Dundee FC has reported a loss of £2.8 million for the year ending 31 May 2023 as turnover fell £1.7m.
The club secured promotion to the Scottish Premiership after winning the Championship title, but maintaining a squad capable of the title triumph came at a high price.
Although salaries at the organisation went down from £3.2m in 2022 to just over £3m in 2023, turnover also dropped from £4.9m to £3.2m. This resulted in the ratio of wages to turnover surging from 65% to 95%.
Football Partners Scotland, the club’s owners, have covered the shortfall and reaffirmed their commitment to Dundee. The board of directors has received a written undertaking that additional funds will be made available when required.
A statement from Dundee FC read: “The accounts for the year ending 31st May 2023 have been approved and signed by the directors.
“With the dedication of the owners to get promoted from the Championship we kept a Premiership budget with a Championship income.
“This resulted in a financial loss but this was expected in order to return Dundee Football Club to Scotland’s top flight.
“Football Partners Scotland (FPS) will continue to provide the financial support for the company.”
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