Financial report: Middlesbrough lower wages but face losses without parachute payments
11 March 2020
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.
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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