They're blaming it on no crowds (so there's your Covid excuse) and lack of player sales (you have to have players worth buying for that to happen, lads...).
@ReturnToSenda said:
£212 on wages per £100 of revenue. The mind boggles.
The numbers are eye watering, but don't the league "allow" some mad high figure of loss per season?
In that climate it's no surprise clubs get even sillier.
The hilariously titled "Profitability & Sustainability" rules allows for a maximum loss of £13m per year over a 3 year period - i.e. a £39m loss over the period (clubs dropping from the PL who are allowed a loss of £35m for the relevant years in the PL)
There are of course byzantine explanations in Appendix 5 of the EFL Rules on their website and a whole raft of stuff that reduces the loss for the purposes of P&S including most importantly Youth, Women's & Community Development expenditure, depreciation of tangible fixed assets and goodwill, Covid costs for 19/21 only & profit/loss on disposal of fixed assets.
I find the rules really badly written and difficult to get absolute clarity and I spent 15 years of my career as a credit analyst analysing and assessing accounts so its no wonder most people find it impossible to follow...
Earlier this season I watched Reading v Bristol City - to say that both teams offered poor value for the tens of millions spunked away on them would be as massive an understatement as the eye-watering losses posted by both clubs.
I’ve apologised to @carrickblue for my stupidity. I had no idea (as I guess none of us did) that he was feeling so low. He has my phone number and knows that, for what it may be worth, I am here to chat (and above all to listen).
Comments
Had to do a double take at that figure. Bloody hell.
Amazing really and I suspect EFL rules would mean points deducted.
They also reported losses of £10.1M the year before (2019/2020).
All that to finish 12th and 19th... 18th after 23 games this season.
Eye watering. Shows again that wether it's the EFL or a regulator someone has to get involved a lot earlier in the process.
I’ve been wondering for months whether to say something but politesse oblige!
Im sure they will blame Covid and the EFL will pinch their cheek, rub their hair and tell em not to be so cheeky in the future
They're blaming it on no crowds (so there's your Covid excuse) and lack of player sales (you have to have players worth buying for that to happen, lads...).
https://www.bbc.co.uk/sport/football/59797491
You shouldn't need your chairman or anyone to plough in £214m just so you can have 8 average years in the championship.
£212 on wages per £100 of revenue. The mind boggles.
The numbers are eye watering, but don't the league "allow" some mad high figure of loss per season?
In that climate it's no surprise clubs get even sillier.
The hilariously titled "Profitability & Sustainability" rules allows for a maximum loss of £13m per year over a 3 year period - i.e. a £39m loss over the period (clubs dropping from the PL who are allowed a loss of £35m for the relevant years in the PL)
There are of course byzantine explanations in Appendix 5 of the EFL Rules on their website and a whole raft of stuff that reduces the loss for the purposes of P&S including most importantly Youth, Women's & Community Development expenditure, depreciation of tangible fixed assets and goodwill, Covid costs for 19/21 only & profit/loss on disposal of fixed assets.
I find the rules really badly written and difficult to get absolute clarity and I spent 15 years of my career as a credit analyst analysing and assessing accounts so its no wonder most people find it impossible to follow...
I am starting to worry it will help Derby survive!!!
How embarrassed do you think they were to have to 'announce' this to their fans? (Probably not at all, actually.)
It makes it even funnier that we beat them with a last minute penalty won by our goalkeeper.
Earlier this season I watched Reading v Bristol City - to say that both teams offered poor value for the tens of millions spunked away on them would be as massive an understatement as the eye-watering losses posted by both clubs.
Best not tell Franchise.
Chelsea resort £143M loss!!! And have liabilities exceeding £1B
It simply cannot continue like this and the whole pyramid will start crumbling at all levels soon.
So many resorts are reporting big losses.
@micra
Ha fucking ha
I think Saint-Tropez is still doing Ok!
Sarcasm 2-0
I’ve apologised to @carrickblue for my stupidity. I had no idea (as I guess none of us did) that he was feeling so low. He has my phone number and knows that, for what it may be worth, I am here to chat (and above all to listen).