Aberdeen have posted another operating loss in excess of £5million. Chairman Dave Cormack insists it has to be done to be able to compete with the likes of Hearts and Hibs.
The Dons’ financial figures for the year ended June 30 saw them record an operating loss of £5.29m, which Cormack and his fellow directors are covering. Turnover is up £2.79m to £13.86m but wages are also up to £10.23m, which is about 74 per cent of the turnover. Aberdeen ’s accounts next year should be boosted by the sales of stars like Calvin Ramsay to Liverpool and Lewis Ferguson to Bologna.
Chairman Cormack said: “The club’s wages to turnover ratio is still high at 74 per cent because we have continued to invest in the first team. We are now spending around 80 per cent more on our guaranteed player wage bill compared to five years ago. But this ensures we remain competitive with other clubs, such as Hibs and Hearts, who are also making significant investments.
