[Football] Reading - financial mess

[Tooting Gull]

Just happened to see Reading's most recently published accounts. For 2017-18, turnover was down from £36.7 million to £17.9 (drop of £18.8m). But in the same period salaries went UP £6.6m to £35.3m.

This all gave a loss before tax of £21million (profit of £4.7m 2016-17). The key salaries to turnover ratio is now, err, 197 per cent (compared to 76 per cent the year before). And they aren't by any means 'going for it' in the transfer market.

Presumably this was the first year the last of their Premier League parachute payments ran out. Debts now up to £34.7m under the Chinese owners.

 

[Exile]

Those look particularly GRIM figures.
[MENTION=31]El Presidente[/MENTION] ?

 

[Barham's tash]

I wonder how much of that was Super Sammy Baldock?

Remember various quoting c£5m all in with clauses, plus wages.


Now not even getting on the bench.


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[WhingForPresident]

[tweet]1104432213700083713[/tweet]

They've also started singing 'Glad All Over'

Coincidence?

 

[Stat Brother]

I wonder how much of that was Super Sammy Baldock?

Remember various quoting c£5m all in with clauses, plus wages.


Now not even getting on the bench.


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Is he injured?

 

[Cowfold Seagull]

Is he injured?

If Sam can't even get to warm the bench at Championship no hopers Reading, there is next to no chance of things working out well, for either player, or club.

 

[AmexRuislip]

#cashtinpot

 

[Papa Lazarou]

Who was the centre back they refused to sell to us?

 

[Stat Brother]

Who was the centre back they refused to sell to us?

You mean the one who we were reliably informed was only worth £3m less than Dunk?

 

[Stat Brother]

Who was the centre back they refused to sell to us?

https://nortr3nixy.nimpr.uk/showthread.php?364508-Liam-Moore&highlight=Reading

The thread that just keeps on giving

 

[James Bond's body double]

Who was the centre back they refused to sell to us?

Moore, and they reckon they won't get 2 million now and to get shot as his rubbish.

 

[Barham's tash]

Is he injured?

Not according to TransferMkt


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[el punal]

Just happened to see Reading's most recently published accounts. For 2017-18, turnover was down from £36.7 million to £17.9 (drop of £18.8m). But in the same period salaries went UP £6.6m to £35.3m.

This all gave a loss before tax of £21million (profit of £4.7m 2016-17). The key salaries to turnover ratio is now, err, 197 per cent (compared to 76 per cent the year before). And they aren't by any means 'going for it' in the transfer market.

Presumably this was the first year the last of their Premier League parachute payments ran out. Debts now up to £34.7m under the Chinese owners.

Chinese owners? I thought they were Thai - unless it’s all changed again. Remember the chairman’s missus coming up with that grand club anthem “For the Glory Of Reading”.

 

[Triggaaar]

Shame.

 

[Pavilionaire]

I'd be interested to know whether BG thinks Liam Moore is better than Davinson Sanchez.

 

[Stat Brother]

I'd be interested to know whether BG thinks Liam Moore is better than Davinson Sanchez.

I'm more interested to know whether BG still thinks Lewis Dunk is only slightly better than Liam Moore.
Like he did 7 months ago.

 

[El Presidente]

Those look particularly GRIM figures.
[MENTION=31]El Presidente[/MENTION] ?

Read it and REAP. Despite the benefits of parachute payments and PL membership for 7 out of the last 10 seasons, they appear to have totally messed things up in 2017/18. Income more than halved and the wage bill increased by 27% as the relatively new owners took a three wise monkeys approach to FFP and gambled all on getting promotion, finishing a mere 18 places below their target, losing £750k a week as a result.

Paying £197 in wages for every £100 of income is not a wise business strategy.

 

[Dick Knights Mumm]

as the relatively new owners took a three wise monkeys approach to FFP and gambled all on getting promotion, finishing a mere 18 places below their target, losing £750k a week as a result.

God Bless Tony Bloom.

 

[ozzygull]

Going with my next door neighbour to watch Reading v Leeds tonight. I have no feelings for Reading, so it will be a nice relaxing game of football for me to watch after the stress and relief and unbridled joy of Saturday. I will ask him if he knows what's going on.

 

[spence]

Good. Hope they go into meltdown.