Company accounts due 29th Feb

- Turnover 123m
- Wage Bill 42.5m
- Operating profit of 2.1m after a loss of 34.1m the year before
- No dividends taken - However it appears either Dalman or Tan are drawing a whopping salary. It was 1.2m in 2018.

It shows how going to the premiership isn't the cash cow people think

We made 36m more and it's not a cash cow?

Almost a case of lost 36m less though isn't it really - as opposed to made 36m more. The club only actually MADE 2m ish.

Wez is right in that people think once you get there you can reap the rewards. The reality is that costs spiral quickly, very quickly.

But if we hadn't got there the club actually would've LOST another 34m.

Parachute payments are to deal with the spiralling costs and I believe we managed it quite well. We didn't go out and spend 100m on players all on 50k a week. Then we'd be in the shit.

The rewards are reaped with sustained PL status (and an owner willing to fund that.)

So a 2 million profit from a loss of 34 million in 2018

So a 2 million profit from a loss of 34 million in 2018

Yes but sala money of 20 million accounted for so if we don't pay the full amount 20 million will come available

- Turnover 123m
- Wage Bill 42.5m
- Operating profit of 2.1m after a loss of 34.1m the year before
- No dividends taken - However it appears either Dalman or Tan are drawing a whopping salary. It was 1.2m in 2018.

It shows how going to the premiership isn't the cash cow people think

We made 36m more and it's not a cash cow?

Almost a case of lost 36m less though isn't it really - as opposed to made 36m more. The club only actually MADE 2m ish.

Wez is right in that people think once you get there you can reap the rewards. The reality is that costs spiral quickly, very quickly.

But if we hadn't got there the club actually would've LOST another 34m.

Parachute payments are to deal with the spiralling costs and I believe we managed it quite well. We didn't go out and spend 100m on players all on 50k a week. Then we'd be in the shit.

The rewards are reaped with sustained PL status (and an owner willing to fund that.)

I believe the club lost 34m the year before BECAUSE it got promoted.

As soon as promotion was sealed in 2018, it had to pay out 23m in promotion bonuses, I think that was incorporated in the last set of accounts hence the loss at that level. Had the club not been promoted it would not have had to pay those.

But it would have lost around 10m which supports what people have said that Tan is keeping the club afloat at a rate of around 850k+ a month, which is why the club cannot go spending on players and still needs to sell.

Commentary on the audited accounts for the year ended 31 May 2019


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