League One Club Carlisle United Reports Operating Losses Of Almost $200,000

English League One club Carlisle United revealed operating losses of more than £124,329 ($197,347) for last season after failing to reach the playoffs. The Cumbrians released their statement ahead of the club's annual general meeting and also confirmed turnover was down £652,141 ($1M). A club statement read, "In terms of expenses, player basic wages were reduced compared to 2011, although bonus payments for league position were higher, and in return we did not achieve a play-off position or increased crowds." The team is hoping for savings of £230,000 ($365,332) in running costs by the end of the '12-13 financial year (Carlisle United).