Nope, from memory, from a set of accounts posted a few years back. It was also the case during the Warnock years that he did a deal with McCabe that if he was compelled to sell players then 20% of transfer sales went back into the running of the academy. I don't know whether or not this still stands but the academy was largely Warnock's legacy and he deserves credit for it.
If you look at what's going on there, what with the coaching staff, council rates, ground staff, utilities, catering facilities, educational facilities, transportation etc. Oh and don't forget the junior pros get paid, expenses for the rest and the Crookes facility as well then you've got a tidy sum of money. One million or two ain't going to cover it, so £3-4m seems like a fair assessment to me.
P.S. Haven't we had this discussion before?