Gate receipts halved as Motherwell FC lost £436,000 in year to May 2019

Former Motherwell star Cedric Kipre joined Wigan Athletic on a three-year contract in August 2018
Former Motherwell star Cedric Kipre joined Wigan Athletic on a three-year contract in August 2018

Motherwell FC have announced a £436,000 loss for the year to May 2019, having made a £1.7m profit in the previous accounting period.

The Steelmen benefitted significantly from reaching both major domestic cup finals in the 2017-2018 campaign, but last term exited both competitions early on while finishing eighth in the Scottish Premiership, one place lower than the previous year.

Gate receipts were down almost a half to £1.6m and broadcasting rights fell around 25% to £1.4m.

The revenue generated of £4.6m included £781,000 of transfer income.

Player sales were mostly made up of the first instalment of the sale of Cedric Kipre, who joined Wigan in August 2018.

Staff costs rose by around £50,000 to almost £4m - just £600,000 less than the total revenue.

Prize money, including Uefa solidarity payments, dropped from £750,000 to £160,000.

The Steelmen are on course for a significantly higher payment from their Scottish Premiership placing this season as they are fourth in the table ahead of this Saturday's visit to Kilmarnock.