I'll ignore the snidey 'bad for business' comment, I don't make money out of what I do in terms of the football finance stuff other than being paid a salary for my day job. The media and social media work is unpaid, usually without even expenses, including the talk to the Albion business breakfast at the Amex.
The budget measurement does include the academy spend, if you look at what the Albion's investment arm does is it aims to make profits out of player recruitment. Nothing wrong with that, our second highest transfer fee received if the £4m figures quoted is accurate was in respect of Ales Mateju, expect to see similar gains in respect of Tau, Mac Allister and Arce etc. It makes sound business sense, but it's not 'football' as such as these players are recruited for significant fees but are highly unlikely to be seen at the Amex due to work permit and other issues.
As for the link between wages and points, it's a fairly close one IMO as shown below. The romance of football is dead, even getting to the FA Cup semi final is sneered at by many these days.
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It was snidey but tbf you haven’t ignored it really have you [emoji23]