Mark Ogren has spent more on Dundee United than he had expected – but is adamant they have to be run like a Premiership side.
The big-spending Championship leaders lodged a £3.7million loss for the year up to June 2018, since their US owner took over in December.
The latest financial figures also confirmed that United’s wage bill sits at 133 per cent of turnover and that is before this summer’s investment, including the signing of Lawrence Shankland and the other new arrivals.
United chairman Ogren confirmed: "The revenue figures didn't pan out the way that we hoped and the way that we were told that they would.
"We came in with a vision and we needed to spend on infrastructure. We did some revamping of the staff and football club - it costs money to move players out and bring players in.
"That's not going to be something which will continue but that transitional period was very costly.
"We're a big club and we are spending a lot of money in different aspects to make sure the club will be able to achieve what we want."
United missed out on promotion back to the top-flight after they lost out in the play-off final on penalties to St Mirren. It was a blow but Ogren is continuing to back his new club in a bid to get them back into the top 12.
"We're exceeding our points goals so far and feel we're on a path," Ogren stated.
"We're very pleased with Robbie Neilson . The mentality in sports is, 'What have you done for me lately?' but we don't look at it that way.
"When you have somebody you think can take you to the next level, you have to secure them. That's why we secured Robbie - the players like playing for him, he's good for the club.
"It would only be a temporary failure, not a long-term failure - we would just continue to focus to make sure that we are a viable club."
The American is adamant that he can turn things around and turn United into a money-maker.
He claimed: "I'm confident that we will make a profit.
"Operationally, Dundee United are a very big club and we don't belong in the Championship.
"We're going to act like a Premiership team, so that when we do get promoted we can hit the ground running. We're totally committed to Dundee United."
