Swans Chairman Huw Jenkins says the clubs annual financial report is not a cause for concern
Jenkins points to the profit made in the preceding twelve months and gives the line that the club is run within budget and there is nothing for fans to be concerned about regards the figures.
Speaking after the club's announcement, the Chairman told the Evening Post "This is a very positive statement because it shows that the profit we made in the previous 12 months was reinvested in the club over the next year.
"Every penny was put back into the club, and that's the way it will always be under this board of directors.
"We had our least successful season in recent years in the year leading up to May 31, 2007, when further investment was made in our training facilities and playing squad and we also changed our manager.
"I would say it's a remarkable achievement to make the loss we did.
"This club operates in the black continuously and, while there will always be swings and variations from season to season, we will continue to run it along those lines."
"We will continue to work within our budgets and we will have to be judged on our results," he added.
"We have a wonderful young manager and we don't have debts hanging around our neck."