Preston North End show a £7m loss before player sales in last financial year

Preston North End's Deepdale ground
Preston North End's Deepdale ground

Preston North End have released their latest financial figures which show a loss of £7m before player sales in 2018 and an ongoing heavy reliance on owner Trevor Hemmings to subsidise the club.

The £7,059m loss - about £140,000 a week - compares to £5.7m in 2017, with Hemmings putting in £5.6m of loans to meet the costs of running North End.

There was an increase in the wage bill, with £15m paid in salaries compared to £13.4m in the last trading year.

However, there was a profit on player sales with £5.4m paid out for players and sales of £10m.

The big sale figure would mostly have come from Jordan Hugill's transfer to West Ham United in January 2018.

Included in the annual figures is a sum of £1.5m which North End have paid to Cleator Manor Limited for land.

That is the land on which the proposed new training ground at Ingol is to be built.

From televised games and solidarity payments from the Premier League, North End received £7m

North End's financial figures cover the period to June 30, 2018, and were submitted on February 28.