03-03-2020, 10:56 PM
(03-03-2020, 02:11 PM)Jean_claude_killy Wrote: The figures look worse than they are and the McGuire chap is correct we are not in danger of transgressing P & S, not for the time being anyway.
You have to remember that 2 seasons ago we recorded a profit of 32m after some clever financial engineering.
Income has risen by just over 2.5m; this increase has come from across the board - Advertising and Sponsorship, Catering, Attendance money, Commercial and Retail - all showing an increase in revenues.
That's the good news!
Although we displayed a profit of 10.5m on transfers we have recorded an 8m write down for releasing players.
Wages have jumped from 111% of income to 124% of income; some of this additional spend will have been for paying off the players released and some of it will have financed Karanka's signings.
There were rumours at the time of his resignation that he had been asked to off load some more players; looking at the figures I would guess that definitely happened.
The jiggery pokery with the declared profit makes a lot more sense now, especially given the timing as this would be the last chance to clear the decks.
:cool: Ty. It's good to have a common sense break down of what's going on.
The club are doing everything in their power to improve the squad whilst keeping 'on the nose' of FFP.
SA.