I should coco
A little harsh on a well meaning body of men
I've jumped on people several times when they say spend £Xm on new players with no appreciation of the much larger wage committments that come with trophy signings.
I think most on here would agree that DirtyLeeds are a bigger club than us and they certainly have a wider pull and earn greater commercial income. Despite that, their wage bill cripples them.
Well here is a potted summary of their results:
https://www.insidermedia.com/inside...ire_news_tracker&utm_medium=top_story_article
The latest accounts for Leeds United Football Club Ltd show a pre-tax profit of £976,367 for the year ending 30 June 2017, compared to a loss of £8.9m in 2015/16.
The profits generated from player trading grew by £6.1m to £8.9m during the year, boosted by the sale of Lewis Cook to AFC Bournemouth in July 2016. Transfer spending totalled £6.8m.
Despite a profit of £9m on player sales (far more than the Maguire and Walker sell ons), they still only made £1m! The elephant in the room is player wages.
Let that sink in. A club with higher gate receipts than us and much larger commercial income, would have made an £8m loss if they hadn't been subsidised by a transfer profit.
The club said turnover was boosted by growing attendances, with the average increasing to 27,698 from 22,448 the previous season. Distributions from the English Football League also grew by £2m.
Retail income grew £5.8m thanks to the launch of the club's technical partnership with Kappa.
The club said it had also achieved a "significant uplift to its sponsorship revenue", with online gaming brand 32Red signing on as the main sponsor and Clipper Logistics becoming secondary shirt sponsor.
So even with growing revenues they are still essentially a loss making basket case. They have few big 'stars' (Cook and Woods have gone) and yet they lose money big time.
The economics of Championship football are bonkers. Just have a think about if before telling McCabe to spend money (that he patently hasn't got).
However, a £14.5m cash injection from new owner Andrea Radrizzani was required to "maintain operations and improve on-field competitiveness".
They are nowhere near the playoffs and are blowing money like it is going out of fashion. Whilever there is a queue of foreign owners with more money than sense, then the merry go round will keep going but beware! One day this whole crock of shit will go tits up, so let's hope we aren't the ones that get covered in it.
I think most on here would agree that DirtyLeeds are a bigger club than us and they certainly have a wider pull and earn greater commercial income. Despite that, their wage bill cripples them.
Well here is a potted summary of their results:
https://www.insidermedia.com/inside...ire_news_tracker&utm_medium=top_story_article
The latest accounts for Leeds United Football Club Ltd show a pre-tax profit of £976,367 for the year ending 30 June 2017, compared to a loss of £8.9m in 2015/16.
The profits generated from player trading grew by £6.1m to £8.9m during the year, boosted by the sale of Lewis Cook to AFC Bournemouth in July 2016. Transfer spending totalled £6.8m.
Despite a profit of £9m on player sales (far more than the Maguire and Walker sell ons), they still only made £1m! The elephant in the room is player wages.
Let that sink in. A club with higher gate receipts than us and much larger commercial income, would have made an £8m loss if they hadn't been subsidised by a transfer profit.
The club said turnover was boosted by growing attendances, with the average increasing to 27,698 from 22,448 the previous season. Distributions from the English Football League also grew by £2m.
Retail income grew £5.8m thanks to the launch of the club's technical partnership with Kappa.
The club said it had also achieved a "significant uplift to its sponsorship revenue", with online gaming brand 32Red signing on as the main sponsor and Clipper Logistics becoming secondary shirt sponsor.
So even with growing revenues they are still essentially a loss making basket case. They have few big 'stars' (Cook and Woods have gone) and yet they lose money big time.
The economics of Championship football are bonkers. Just have a think about if before telling McCabe to spend money (that he patently hasn't got).
However, a £14.5m cash injection from new owner Andrea Radrizzani was required to "maintain operations and improve on-field competitiveness".
They are nowhere near the playoffs and are blowing money like it is going out of fashion. Whilever there is a queue of foreign owners with more money than sense, then the merry go round will keep going but beware! One day this whole crock of shit will go tits up, so let's hope we aren't the ones that get covered in it.
