Aberdeen have made a profit for the fifth season in a row but the latest figures show that has dropped from £533,000 last year to £85,000 now.
That’s despite a record £15.415 million turnover in season 2017/18 but a higher percentage of that income has been ploughed back in wages.
Their total wage bill was increased by £803,000 over the last 12 months to £8.564 million in an effort to remain Celtic’s closest challengers in the Premiership.
It also reflects the improved terms manager Derek McInnes received when he rejected the chance to take over at Sunderland in July last year.
Despite that, Aberdeen chief executive Duncan Fraser insists the club are still in a healthy financial position at a time when they are trying to fund the £50m new stadium project.
He said: “The turnover figure of £15.415m is another new record for the club, with the main factors being a substantial increase in sponsorship, advertising and commercial income.
“That’s offset by a reduction in Uefa prize monies as a result of playing in fewer rounds of the Europa League in season 2017/18 to which these results refer.
“Wages increased from £7.761m to a record £8.564m as a direct result of our continuing investment in the overall quality of the playing squad, the level of success in all competitions and securing the management team on new contracts.
“The wages to turnover ratio has also increased from 51 per cent to 56 per cent which is still well within accepted industry norms and compares favourably to other clubs.”
Michael Devlin, meanwhile, is out of Aberdeen’s squad for the trip to Motherwell today. The defender has a tendon injury and is facing a race to be fit for the Betfred Cup final against Celtic at Hampden Park next weekend.