Dundee counting the cost of relegation with £1.8m losses

Dundee have reported annual losses of £1.82 million as they fight to regain Premiership status in the coming weeks.

Despite the losses, Dundee managing director John Nelms insists the move to a new stadium remains on. Picture: SNS

The cash-strapped Dens Park club announced the figures yesterday, and they reflect the cost of relegation from the top tier last season.

Dundee slipped to fourth place in the Championship yesterday, with Ayr United moving above them following their win over Alloa Athletic. Dundee’s home match against Arbroath was postponed due to a waterlogged pitch.

With Dundee United on course for the title, Dundee’s best hope of going up with their city neighbours is through the play-offs and they must finish in the top four to have a chance.

The club were anticipating a loss but the figures for the year to the end of May 2019 are higher than expected and are more than quadruple last year’s losses of £425,000.

The news will spark concerns among supporters of a club which has twice gone into administration in the recent past. Dundee blame a decline in cup competition revenue as well as a reduction in transfer gains for their off-field woes, while total expenses increased by almost £600,000.

Back in October 2018, Dundee sacked manager Neil McCann and replaced him with Jim McIntyre in a bid to stay up. The club continued to back the management team with new signings during the January transfer window but were relegated and McIntyre was sacked for taking them down after just seven months at the helm. Dundee finished 11 points adrift of St Mirren at the bottom of the table.

The club are forecasting another loss for the year to end of May 2020 due to reduced revenues in the Championship. But owners Tim Keyes and John Nelms, pictured, remain adamant that plans to build a new stadium in the city later this year remain on track.

Yet Dundee fans are more concerned about getting out of the Championship at the first attempt, and their loyal followers fear what another season outside the top-flight will do to their club.

In a statement, Dundee said: “Quite clearly, 2018-19 was a frustrating and disappointing season with the club being relegated from the SPFL Premiership. A loss for the year had been forecast but the actual loss of £1,825,669 was significantly higher than the previous year’s loss [£425,748].”

The club has urged fans to get behind the team in the remaining games of the season as they try to regain their top-flight status.

The statement added: “The directors are hopeful that the club will have the opportunity to gain promotion to the Premiership this season and would ask all of our fans to rally behind the team in our remaining fixtures.”