Dundee United Football Club has today published its annual accounts for the year ended 30 June 2024, highlighting significant strides made towards financial sustainability. 

Despite posting a loss for the period, the accounts demonstrate tangible progress, underpinned by decisive actions, improved processes and the tireless efforts of the club’s staff. 

The Board of Directors is encouraged by the clear improvement in financial performance, achieved in parallel with the club’s main goal of securing promotion back to the Premiership. Key highlights from the report include:

• Total costs reduced by nearly 30% — A saving of £3.8m year-on-year, achieved through robust budgetary controls and streamlined operations.

• Operating loss (excluding player sales) reduced by 45% — Down from £4.3m in 2022/23 to £2.3m in 2023/24.

• EBITDA loss (including player gains) reduced to £1.6m — A marked improvement in the club’s financial position.

• Wage costs reduced by £1.7m — Dropped from £6.9m to £5.2m, reflecting more efficient player and staff management.

• Consultancy fees reduced by 84% — Football department costs (excluding wages) down by £1m.

• Player transfer income of nearly £1m — Delivering a £0.7m gain on player registrations.

• Significant debt reduction — OPG-4 UK loan liability was reduced by 34% from £10.1m to £6.6m, significantly strengthening the club’s balance sheet.

While turnover fell to £6.4m — largely due to relegation to the Championship and the resultant reduced away attendances at Tannadice Park — the club was buoyed by the loyalty and passion of our supporters. Season ticket sales and home match ticket revenue remained strong, as did retail and commercial performance. These factors ensured DUFC maintained one of the highest turnovers in Scottish football despite relegation.

Looking ahead, the Board remains optimistic. Forecasts for 2024/25 project turnover to surpass £8m, aided by a return to the Premiership. The club will continue to apply strict financial discipline, with cost control and operational efficiencies firmly embedded across the organisation.

Chairman, Mark Ogren commented, "These accounts reflect the significant steps taken over the past 12 months to put Dundee United Football Club on a more sound and sustainable footing. While a loss is never something we take lightly, it was anticipated due to our relegation to the Championship. With the Board’s support, along with improvements in our processes and working practices, the reduction in our operating losses, and all of the positivity that comes with being back in the Premiership, we are well-positioned for further growth and improvement. This progress is a testament to the hard work of everyone throughout the club, from senior leadership through every department, along with the continued loyalty of our absolutely incredible supporters.”

The club remains committed to achieving financial sustainability while remaining competitive on the pitch. With the return to Premiership football and further projected financial improvements in 2024/25, the Board is confident that the club is on track to achieve its long-term objectives.

Annual Report and Financial Statements for the year ended 30 June 2024.

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