Fulham Reveal Profit & Debt-Free Status

English Premier League’s Fulham have breathed a huge sigh of relief after revealing they are now debt-free after chairman Mohamed Al Fayed’s decision to convert loans to the club into equity.

A second successive annual profit enabled the club to pay off all external debt, while Al Fayed converted outstanding loans to the business into equity.

The news comes on the same day Fulham revealed a profit of £1.2m for the year ended 30 June 2012 – results which follow on from a record profit for the previous 12 months.

The Club enjoyed another increase in attendance of 0.6 per cent which contributed to its overall occupancy figure of 98.4 per cent for the season. Both of these figures are a Club record for its time in the Premier League. The Club posted revenue figures of £79.3m, including £3.4m Europa League revenue.

Al Fayed said: “Fulham continues to make great strides and, following planning permission for the redevelopment of the Riverside Stand, we will continue to prosper and grow.

“For almost the last 15 years, I have ensured the club moves in the right direction and remains true to our proud history, strong heritage and past traditions.”