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A business model that works Paisley style

Once again I am taking advantage of work by Kieran Maguire to summarise the financial results of a club for 2018/19, this time St. Mirren. I am swamped with work at the moment and one thing that keeps getting put to one side is writing a review of Kieran's new book on The Price of £ootball. I can recommend it on the basis of what I have read so far.

St Mirren published operating losses of just over £900k for 18/19 'but their business model of developing players and selling them for a profit worked again and a £1m profit was made. St Mirren sold players for £330k in the summer 2019 window. St Mirren have plenty of cash in bank and have made over £8m profits over the years.'

Promotion to Scottish Premiership boosted St Mirren income by 46% with matchday and broadcast income seeing the biggest increases.

'St Mirren wrote off £29,000 on a player impairment in 2018/19. That’s accounting speak for saying they signed someone who turned out to be shite. St Mirren spent £50,000 signing players in 2018/19 but had sales of £1,017,000 (which may include Jack Ross to Sunderland)?'

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