EPL Fulham Nearly Debt-Free As Mohamed Al Fayed Converts Loans Into Equity
EPL Fulham is "effectively debt-free" after Owner Mohamed Al Fayed converted his £212M ($334M) in loans to the club into equity, according to Dominic Fifield of the London GUARDIAN. Fulham reported an operating profit of £1.2M for the financial year ending June 30 with that figure inflated by the £3.4M "generated by the team's participation in last season's Europa League." Fulham posted revenue figures of £79.3M, "including the influx from the Europa League," for the last financial year and also saw the overall occupancy figure at Craven Cottage rise to 98.4%. Fayed: "Fulham continues to make great strides and, following planning permission for the redevelopment of the Riverside Stand, we will continue to prosper and grow" (GUARDIAN, 1/29).