5 Feb 2008Sunderland post pre-tax loss

It has been reported that Sunderland lost £15.4 million as they secured their place in the Premier League last year.

That was a pre-tax loss but follows a pre-tax profit of £7.5 million in the previous year, when the Black Cats were relegated to the Championship.

The club has been in the hands of the Drumaville consortium, headed by Niall Quinn since July 2006.

Although financial loss will be of some concern to fans, most will be satisfied that the money has gone towards reinstating the club in England's top division.

Since winning promotion, around £40 million has been spent on new players in a bid to ensure that the Stadium of Light is still hosting Premier League games next season.

Despite the money spent on bringing new talent to the club, Sunderland have struggled in the top flight and are currently sitting just two points off the relegation zone.

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