Mohamed Al-Fayed committed to Fulham despite huge losses
Tuesday 15 March 2011
Fulham chairman Mohamed Al-Fayed remains fully committed to the Barclays Premier League club despite the Cottagers posting a £16.9million loss for the last financial year.
Under former boss Roy Hodgson, the west London side reached the final of the Europa League, which helped bring in an additional revenue of around £12.5million.
However, overall losses went up by £10million, mainly because of increased wages and new contracts.
Flamboyant Egyptian Al-Fayed, the former owner of Harrods, has been in charge of Fulham since 1997, with the Cottagers having sustained their top-flight status now for 10 consecutive seasons.
Al-Fayed has already bankrolled Fulham's rise through the divisions to the tune of more than £160million on an unsecured, interest-free basis.
And the 78-year-old insists he is as passionate about the club now as the day he arrived at Craven Cottage.
"As is evident, I remain committed to making investment funds available to achieve our goals both on and off the pitch," Al-Fayed said in a statement.
"The continued success of Fulham and its eventual financial self-sustainability is my priority."
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