12 May 2009Cardiff City announce £1.05 million loss

Football Clubs News | Football Finance News

Despite reaching last year's FA Cup final, Cardiff City registered a loss of over £1 million for the year ending May 31st 2008, it has been revealed.

Alongside reaching the final, where they lost 1-0 to Portsmouth, the Championship club also benefited from making £5.5 million in the transfer market in the same year, primarily through the sale of Michael Chopra to Sunderland.

Overall, the club suffered a loss of £1.05 million in the year, although chairman Peter Ridsdale stated in the club's latest accounts that making it to Wembley enabled the club to increase its turnover by 20 per cent to £12.7 million.

However, Cardiff City will be playing Championship football again next season after missing out on a place in the play-offs following a 1-0 defeat away at Sheffield Wednesday in their final league game of the season.

Vansdirect.co.uk became the official football sponsor of Cardiff City for the 2008/09 season after spending two years as a corporate sponsor of the club.

Furthermore, Cardiff City will be playing their home games at a new ground from next season as the long-serving Ninian Park is set to be demolished.

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