Chairman Mark Ogren is looking for Dundee United to climb off the foot of the Scottish Premiership and push for the top six.
United have announced vastly-improved financial figures that saw them register a £300,000 profit for the last financial period. The Tannadice club turned a profit and cut wages to turnover as a result of player sales and United’s success in finishing fourth in the table last season and qualifying for the Europa Conference League.
Ogren has insisted the board remain committed to backing the team and pushing for another top six finish. United are currently three points adrift at the bottom of the Scottish Premiership but Ogren is adamant head coach Liam Fox will be backed. Ogren said: “I reiterate that the current board are committed to ensuring that the required funding and infrastructure is in place to maintain the club as a competitive team in the Premiership and also provide the platform to enhance the prospect of finishing in the top-six once again this season.
“In our ambition to improve and grow Dundee United FC and make the club the best it can be, our challenge continues to be controlling investment. Our expenditures must be commensurate with our revenue as it is imperative the club is both successful and financially sustainable."
United’s books were boosted by the sales of Lawrence Shankland to Germinal Beerschot, Jeando Fuchs to Peterborough and Kerr Smith’s move to Aston Villa. Ogren admitted that finishing fourth last season and qualifying for the Europa Conference League were massive for United.
Manager Tam Courts left for Honved in the summer and was replaced by Jack Ross, although his stay was short-lived. He has since been replaced by Fox, who has stepped up from first-team coach. Ogren said: "The board remain committed to being a sustainable and enduring competitor in the top half of the Scottish Premiership and delivering on this in season 2021/22 was significant in the positive accounts posted.
"Despite the first half of the financial year 2022 bringing a continuation of some restrictions imposed by the Scottish Government on society and business operations, we were able to welcome fans back into the stadium - albeit on reduced terms for a period. The success on-field in achieving our objective and indeed exceeding our expectations by finishing 4th led to qualification for UEFA competition.
“This was achieved while also ensuring that one of our core strategies of developing homegrown talent was highlighted by the reward of match time for 17 Academy graduates.
"Alongside developing our own players internally, player trading remains a significant element of the financial sustainability of the club and the profit of £1.3 million on the sale of players all while maintaining on-field success and maintaining a strong, competitive squad was achieved by Sporting Director Tony Asghar and the football department.”
United in the previous 12 months had posted an alarming loss of more than £2.5 million in the previous period. The improved figures have seen turnover rise to £8.3 while the club has taken massive strides in reducing their crippling wages to turnover ratio. Cutting it from 132 percent to 71 percent although the wage bill remains at £5.9 million. It sees United move towards a more self-sustainable model.
Ogren added: “Turnover increased greatly for the year thanks to continued on and off-pitch success and alongside a controlled increase in total wage, this led to a significant reduction in wages/turnover ratio. “
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