Motherwell attribute record profit to David Turnbull sale

Motherwell have revealed the transfer of David Turnbull to Celtic was the “biggest factor” in the club’s record finances.

The Lanarkshire club posted a record profit of £3,575,615 in the year ending 31 May 2021.

Motherwell noted that the figure is a significant lift on the £435,970 profit revealed in 2020, with a total increase of £3,139,645.

Included in the figure is a £1,518,471 accounting profit attributed to a Scottish Government interest-free loan.

Scotland midfielder Turnbull was bought by Celtic in August 2020 for a reported fee of £3million.

In a statement on Motherwell’s official website, chairman Jim McMahon explained the intricacies of the financial results, the “challenges created by Covid-19” and the importance of Turnbull’s move.

He said: “The biggest factor in the profit for the financial year is generated in player registration gains, made up almost entirely of our initial fee from Celtic for David Turnbull.

“That transfer deal, a total that will most probably end as being at least double our previous record sale, also contains several add-ons, one of which has already been achieved during the 2021/22 season.

“It also includes the opportunity to retain future economic rights, should the player’s career continue to blossom.

“Over the last five financial years, the player registration gains generated by the club have been £6.2m.

“Whilst player registration gains are not incorporated within the club’s operating revenue, they form an integral part of the financial results and strategy, and influence budget decisions such as setting the staff budget.

“The two-pronged approach of generating income through player recruitment and development, together with academy promotion, will continue to form the spine of our