Financial report: Middlesbrough lower wages but face losses without parachute payments

11 March 2020

Boro
Photo: PA Images Middlesbrough's wages fell by around £8 million to £40.6 million, though their wage bill is still among the highest in the league.

The club recorded a small profit last season thanks to a healthy profit on player sales, but the year was the last with parachute payments.

Wages were reduced by around £8 million, but they will have to be reduced further to offset this season's drop in turnover.

Turnover will fall by around £35 million when parachute payments cease.

Emil Gjerding Nielson nielson@offthepitch.com

Middlesbrough managed to lower their wage bill and make a small profit last season, the club's just-published financial report has revealed, but further measures will have to be taken to reduce expenses as 2018/19 was the club's last season with parachute payments.

The club would have made an operating loss of around £30 million if they had not managed to record a £33.2 million profit on player sales, instead helping them achieve an operating profit of £3 million.

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