Dundee United announce loss of £1m as revenue drops off
The Tannadice outfit say revenue fell due to Championship football, but debts are down.
Dundee United have announced the club made a loss of £1m for the year to June 2017.
While total losses have been reduced by a third at Tannadice after the club made £2m in cost savings.
But United say the severe financial disparity between Premiership and Championship football continues to hamper revenue which is down by 24%.
Cause for optimism, however, can be sourced from reduced debts at the club after the Taysiders saw debt reduced to £1.8m - a figure which stood at £7.3m ten years ago.
The Tangerines currently lie occupy a play-off spot in the second tier but are 17 points behind leaders St Mirren after experiencing a poor run of form since the turn of the year.
New chairman Mike Martin rejected rumours the club would face administration should they fail to achieve promotion to the top flight this campaign.
However, he laid clear that a third year in the Championship would have severe ramifications for the club.
He said: "A third year in the Championship is a very expensive issue for us.
"We have two plans, one base on us going back and one on us remaining in the Championship.
"If it's the latter we must identify sources of finance to plug the gap in revenue shortfall."