Sunderland owner problem explain amid £19m plunge - Finance expert

By Dr Dan Plumley

3rd May, 2022 | 4:00pm

Finance guru explains Sunderland's owner problem as £19m plunge confirmed

Sunderland are too reliant on their owners and may need more than one promotion before they become financially self-sufficient.

That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Black Cats accounts for 2020-21.

In the 31-page document, released last Friday (29 April), Sunderland revealed an £11.3million loss for the year ending 31 July 2021.

Revenue fell by £18.5m to just £10.3m over the Covid-hit season, which was played entirely behind closed doors.

The 2020-21 campaign was the Stadium of Light side’s fourth in League One and their first without parachute payments.

And Plumley claims that an overreliance on Kyril Louis-Dreyfus and his fellow shareholders is laid bare in the accounts.

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“We have to context these within Covid,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.

“This was a full season behind closed doors. Also, the biggest decrease is linked to parachute payments.

“That has led to a big percentage swing and a big reduction in revenue. Those are the two biggest caveats.

“Looking at the numbers in a wider context, there is a reliance on the owners.

“We need to be mindful of the league that they are currently in too

“They are trying to get out of it, of course, but the revenue in League One is not as high as the Championship.

“Then it’s an even bigger jump to the Premier League. They are well supported but to grow revenues back to previous levels, promotions are needed.

“Otherwise, they are going to carry on being reliant on the owners.”

Alex Neil’s side finished 4th in League One, six points outside the automatic qualification spots.

They face Sheffield Wednesday in the playoff semi-finals, with the first leg taking place on Friday (6 April).

In other news, Kieran Maguire issues “significant” Sunderland claim as £100m-plus talks underway.