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Crystal Palace make a profit

Crystal Palace's accounts for 2016/17 are finally out.The delay in the accounts being published may be linked to proposed third party investment that didn’t eventually materialise. The club received a large deposit that was then repaid.

Like the overwhelming majority of Premier League clubs, they have returned a profit. A loss of £6.8m in 2016 converted into profit of £12.8m in 2017.

Income was up 40% on back of new TV deal. Gate receipts down 9% despite higher attendances reflecting lower prices. 82% of income was from broadcasting, a not untypical figure for 'smaller' Premier League clubs.

Wages were up 39% to £111.8m. They had the ninth highest wage bill in the Premiership. The average weekly player wage was nearly £54,000.

The highest paid director earned £2,150,000, presumably with initials SP. The club spent £117,000 on services from VMM, a Steve Parish company, and paid rent of £234,000 to Smoke & Mirrors Group, another Steve Parish Co during 2016/17.

Palace had the 11th highest income of Premiership clubs in 2016/17. Five years ago their income was just over £14m compared with £142.7m today.

They were the fourth highest spenders on player signings in 2016/17, investing more than Leicester, Chelsea and Tottenham Hotspur on player recruitment. Player purchases were£104.3m, player sales £39m.

The balance sheet looks solid with £15.9m of cash in bank at 30 June 2017. Loans are relatively low.

A more detailed analysis is available here: Dancing in the Dark

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