West Brom's Hawthorns expansion delay is backed
West Bromwich Albion were today backed in their decision to consider delaying an expansion of The Hawthorns into a 30,000-seater stadium.
Baggies chief executive Mark Jenkins told the club's AGM in London that directors still want to extend the ground, but admitted no decisions have yet been made on a timescale.
And Neil Reynolds, chairman of small shareholders' association S4A, admitted the club had a tough decision to make on when to sanction expensive building work.
Chairman Jeremy Peace announced in 2011 that he planned to increase capacity to over 30,000 within three years, but those plans now appear likely to be pushed back.
And Reynolds, who was one of just five shareholders to attend today's AGM, said: "I think they're possibly missing an opportunity because, in the recession, the costs of building are probably at an all-time low.
"Having said that, I do agree with the club's stance that we can't bank on filling the ground with casual fans.
"We've only got around 19,000 season ticket holders, including half season tickets, and I think the club are right to be cautious about extending."
Shareholders today approved the Baggies' accounts for the year ending June 2012, which showed a profit of £1.5m on a turnover of £66.7m.
The club made an operating loss of £4.6m but that was turned into a profit by the sales of Marek Cech, Borja Valero, Ishmael Miller and Scott Carson during the financial year.
Reynolds added: "It shows another year of outstanding performance on and off the field. To maintain exceptional financial performance while continuing to improve the playing staff reflects great credit on all concerned."
The accounts showed that the club's income was dominated by £49.9m from media deals and sponsorship, including broadcast rights money from Sky TV and a kit deal with Adidas.
Gate receipts accounted for £7.9m of turnover with £5.6m raised from commercial activities and £2.6m from merchandise sales.