Swansea set to confirm a £14.6m profit after debut Premier League season
Swansea are set to confirm a £14.6m profit after a successful first season in the Premier League.
Last Updated: 15/10/12 6:10pm
The club, which has risen from the bottom tier to the top flight over the past seven years, are preparing to release their full accounts for the year ending May 31 2012.
The £14.6m profit after taxation is a significant increase on a loss of £8.3m in the side's previous promotion-winning season and the rise to profit comes despite a doubling in the club's wage bill.
Swansea, who finished 11th in their debut season under boss Brendan Rodgers, received £5m in compensation when Liverpool hired the Northern Irishman to replace Kenny Dalglish.
The business review will reveal a turnover of £65.2m and work has already begun on the £2.5m Landore training ground development together with discussions to increase the capacity of the Liberty Stadium.
The gap between the Premier League teams and the 72 clubs in the other English professional leagues will widen further next term when a new domestic television contract worth more than £1bn per season comes into place.
Fans of Swansea own a 20% stake in the club, which is now managed by Michael Laudrup.