Probably not the most important thing in the world right now but weve posted a £34m loss for the year ended Iune 2019 ... https://www.dailyecho.co.uk/sport/1...lubs-accounts-year-ending-june-2019-released/
It's truly remarkable how financially irresponsible this financial responsibility has been. Usual caveat that paper profit/loss doesn't always correspond to cash, and the full books aren't publicly available yet. But this isn't unexpected.
Choppy waters ahead. And sadly, the virus will probably make players like Wesley even more difficult to shift. Financial security will be put far ahead of playing time in times like this. Gao is sitting at the big boys table, does he stick or twist?
Not surprising. We haven't been making our usual big sales because we've got nobody to cash in on, and loads of players on decent money and long contracts that we can't get rid of.
So in that interview Steele confirmed Gao isn't selling, but also said that if we don't sell players, then we can't buy players without new external investment. So not selling and also not investing. Would the logical thing to do not be to get new investment and rid of Gao? Easier said than done!
Gao couldn't get the accounts out quickly enough after the announcement of the pandemic. Good day to bury bad news, Friday the 13th.
these accounts are effective June 2019 so God knows how bad they are as at todays date. this is the problem with being run by a bunch of **** wits
Trying to think how it might have gone up/down since then. Up - Adams, Djenepo Down - Forster, Carillon and Hoedt all partially - don't we think we sold anyone last summer did we? No new contract for Pierre please.
Okay, so I don’t claim to understand how football finance works. But any business that manages a loss while receiving the revenue streams all PL clubs get from TV rights is presumably run by idiots. Or have I missed something?
Pretty much. Most of the teams losing massive amounts of money are either quite content to do so owing to their owners, or badly overreached (but still have owners willing to cut the cheques). We're really the only club that has managed to revive the Sunderland model with revenues 2x higher.