Baggies announce handsome profits

Last updated : 19 January 2012 By Iain Bate - Wba-mad Editor

Albion has posted profits of more than £9 million in the last financial year after securing their top flight status.

The club were able to reduce its net debt from around £11m to £2m after the club finished 11th place in the Premier League.

Jeremy Peace’s ‘prudent’ approach to spending resulted in the club returning a £3m profit on transfer fees in the financial year ending 30 June 2011.

The Baggies’ accounts show the club spent £5.2m on new signings but regrouped £8.2 million back from sales of players.

But the wage bill at The Hawthorns has increased. After honouring bonuses for Premier League survival and improved contracts for senior professionals, the club spent an extra £11m up to an annual £48m.

The club will formally announce its figures at its new London offices on 9 February. 

Should the club have invested further in its first-team squad instead of reducing its net debt? Have your say here at Baggies Banter