Swansea City Announce £15m Profit

Swansea City have announced a profit of £15.3m ($24.4m) for the year ending May 2013.

The figure is higher than the previous year, though slightly lower than the £15.9m ($25.3m)half yearly profits revealed financial results cover the club’s second season in the Premier League. 

The club have said the profits have been used to build a youth academy training facility near the Liberty Stadium and a training complex at Fairwood. 

Swansea’s finance director, Don Keefe, said: “The board is extremely pleased with the latest results and the year in general, both on and off the pitch.

“We have put the funds generated by these profits to good use with the completion of a new £6m Youth Academy training facility near the Liberty Stadium, plus an initial £5m on a new training complex at nearby Fairwood.

“The club has also continued to invest in the playing squad to maintain a performance standard required for participation in the Barclays Premier League.”

Turnover, excluding player dealings, increased from £1.9m ($3m) to £67.1m ($107.2m). Player registration costs also increased from £8.9m ($14.2m) to £19.1m ($30.5m) for the year.

Swansea have submitted plans to increase the capacity of the Liberty Stadium from 20,500 to 32,000.