Crystal Palace has reported losses of £35.5m ($46.3m) for the 2017/18 season, the biggest loss of the 18 Premier League teams that have so far released their financial results. The club is also in a race against time to avoid administration and will need to raise funds from investors if it wants to stay afloat. Commercial Director Barry Webber said the financial rewards of staying in the top-flight division and player assets offset the losses. Turnover reached a record £150m for the season, £121m of which came from broadcasting rights and prize money, while commercial revenue increased 16% to £26.1m.
Crystal Palace has reported losses of £35.5m ($46.3m) for the 2017/18 season, the biggest loss of the 18 Premier League teams that have so far released their financial results. The club reported nearly £12m in profits the previous year. Commercial Director Barry Webber said the financial rewards of staying in the top-flight division and player assets offset the losses. Turnover reached a record £150m for the season, £121m of which came from broadcasting rights and prize money, while commercial revenue increased 16% to £26.1m.