Aberdeen have revealed a £5.19m loss as a result of the “profound impact” that COVID-19 has had on the club and Scottish football.
The club’s annual accounts to 30 June 2021 shows a decrease of turnover of £3.26m from £14.33m to £11.07m and a £2.27m rise in losses.
“The overarching challenge for the club has been the coronavirus pandemic,” chairman Dave Cormack said.
“We had optimistically assumed that we might get a return to some degree of normality from the start of 2021. But, other than one trial match, which 300 fans were allowed to attend, we had to wait until the start of the current season before fans were allowed back in a limited capacity.
“The exclusion of fans not only impacted on the atmosphere at matches but also decimated the club’s mainstream commercial revenues of match-day gate receipts, hospitality, advertising, sponsorship and retail sales.”
The Dons wage bill reduced slightly from £9.77m to £9.36m, but due to the decrease in turnover the wage bill increased the wages-to-turnover from 68% to 85%.
“Supporters, sponsors, clients, staff, management and the board have all contributed to the club getting through the pandemic and navigating our way through a projected £10m shortfall,” Cormack added.
Cormack reiterated the club’s commitment to it’s investment strategy in areas such as the Youth Academy, training facilities and plans to build a new stadium.
View the Annual Report statement below.