Dundee United announce £2.4m loss as Tannadice chiefs left counting the cost of Premiership relegation

Dundee United have been left counting the cost of their relegation as they posted a whopping loss of more than £2.4 million.

United have paid the price for a dismal season that saw them start last season in Europe and then end it in the Championship. The harrowing financial figures were actually couched by player sales and add ons, like Harry Souttar’s move to Leicester City, which combined brought in £2.6 million. A crippling wage bill and a failure to get a return on the pitch has left American owner Mark Ogren counting the cost.

Turnover was at £8.1 million but United’s wage bill was a whopping £6.9 million, which was an increase of 18 per cent on the previous year. Chairman Mark Ogren said: “Quite clearly the 2022/23 season was a difficult one for the club. What started as a vision to continue progress and challenge within the top six of the Premiership once again, ended with the ultimate disappointment of relegation. Turnover remained high at over £8 million and a significant factor to this was the continued loyalty of the fanbase with over 5,800 season tickets sold. Our appreciation for the fanbase is unequivocal.

"Unfortunately, as wage costs increased significantly following investment in the playing squad at the beginning of the campaign, prize money, crowd receipts, and other income fell as the club’s fortunes on the park weakened. The required changes were made across the football department including the change of management teams and these costs are reflected in these accounts.”

United went through three managers last season. Starting with Jack Ross, then Liam Fox before they brought in Jim Goodwin. Goodwin failed to keep them up but has been trusted with the task of winning promotion.

Ogren added: “In