Armageddon seemed a million miles away from Tannadice last night as Dundee United posted an annual profit of almost £1.5 million.
The Tangerines’ accounts made the revelations from SFA chief executive Stewart Regan about the end of days for Scottish football in the wake of the Rangers crisis look even more ridiculous than they seemed at the time.
Not only have United made £1.449 million net for the year to June, they have been able to stay true to chairman Stephen Thompson’s long-term goal of debt reduction by bringing down the bank term loan by 30% from £5.4 million to £3.7m (including a payment of £225,000 made after the end of the accounting year).
So after 10 years of the Thompson family at the club, the debt figure is lower than it was when Stephen’s father Eddie took control in 2002.
Of course, the force behind the excellent overall figure is the £2.135m profit made from transfers.
David Goodwillie was sold to Blackburn Rovers in August 2011 and West Bromwich Albion bought Scott Allan last January and there is still the possibility of more cash coming to United for Goodwillie as a result of add-ons.
While Thompson and his fellow directors are well aware of the difficult financial times that could still be ahead, the figures still made a mockery of Regan’s doomsday warning.
Regan said, in the midst of the Ibrox saga, that: ”We are faced with a situation some say is meltdown and some say Armageddon and whichever way you look at it it’s not a healthy future for the game.”
United have shown that clubs not only can avoid disasters of biblical proportions but actually thrive if they bring through their own players and sell them on when the price is right.
Also, the Tangerines have been luckier than most in having city neighbours Dundee promoted to replace the old Rangers in the SPL, something Thompson accepts puts them in a more favourable position attendance-wise than clubs closer to Glasgow like Motherwell and Kilmarnock.
The crowd for the first derby of the season against the Dark Blues was 13,538 greater than they would have expected for a home game against the Light Blues.
And, perhaps significantly as the chairman and his manager Peter Houston aim to sort out the latter’s future, for the first time in a few years the playing budget will not be cut for season 2013-14.
So, for once, there was a good story to tell about an SPL club after the game’s summer of discontent.
”Armageddon never happened,” said Thompson. ”Maybe it was not a good choice of word. I would stress it wasn’t said by me or by us (the board).”’Lucky’He continued: ”Let’s be fair, we were very lucky that it was Dundee that came up. There is no doubt about that and other clubs haven’t been quite so lucky.
”We got a better crowd against Dundee than we would have normally got against Rangers. So we have not lost anything because we have Dundee in the league. We have not really seen any (adverse) effect.”
Thompson reflected on the balancing act of keeping the team successful on the pitch while also bringing in income via sales when necessary or desirable.
Meanwhile, the good news for Houston, should he stay beyond the end of his deal which finishes at the end of the season, is that the playing budget will stay at its current level. That could have a bearing on the outcome of the talks between Houston and Thompson.
“At this moment in time, we do not intend cutting the player budget at all for next season,” said the chairman. “We had cuts this summer and many people would say it has been reflected on the park but I just think we have gone through a bad spell.
“You need to survive as a business but no manager wants to see the budget cut. So I am sure it will make him (Houston) feel a lot better hearing that, as well as the fans.”
As for the prospect of Houston’s future, Thompson added: “We are talking and I would rather keep things private and do it that way than say anything in public. It is an ongoing process and when we have something to tell you we will tell you.”