Middlesbrough part ways with Pulis
17 May 2019
Pulis did not succeed in taking Boro back to the Premier League, with the club one point away from reaching play-offs.
Middlesbrough will have to do without the parachute payments from the Premier League for now.
Middlesbrough FC have announced that the club will not renew manager Tony Pulis’ contract. The Boro manager ends his 18-month spell at the club finishing just one point behind Derby - therefore not reaching the Sky Bet Championship play-offs.
Middlesbrough chairman and owner Steve Gibson thanked Pulis in a statement on the club’s website:
“I’d like to thank Tony for his hard work and commitment over the past 18 months. He has been a joy to work with and a complete gentleman. Two years ago, we invested heavily in the squad in terms of transfer fees and salaries in an attempt to regain our Premier League status.
"This happened before Tony’s arrival. Over the past 18 months, Tony has been proactive, not only in the ambition to win football matches and promotion to the Premier League, but also in addressing our financial position in order to comply and respect the Championship Fair Play criteria."
End of parachute payments
Middlesbrough FC are facing a tough summer as their parachute payments have ended, but the club has been working hard on cutting wage costs.
Former manager Gary Monk spent big on transfers and heavy wages in the hunt for a return to the Premier League, and the annual report showed a loss of £6.6 million. The operating loss was £20.1 million, primarily due to broadcasting income falling £54.3 million.
Middlesbrough have cut their wage bill in half to prepare for the end of Premier League parachute payments.
And as offthepitch.com has learned, Middlesbrough will make a profit in the 2018/19 accounts following a financial turnaround that includes the sale of Ben Gibson to Burnley for £15 million, which will be paid in instalments.