It's the year ended June 2013.
The additional seating brings in less income than people estimate. At an average of (say). £15 per head to the club (after taking into account concessions, VAT and the transport levy) an extra 4,000 fans per match brings in £60k a game, or about £1.4 million in a...
I don't have any inside knowledge but with the Albion having to depreciate the stadium this year, the wages paid to Bridge, PIG, Crofts, Upson and Ulloa, new deals for the likes of Buckley, and Barber taking time to identify the overspends elsewhere, any losses of less than £15 million would be...
There's nothing wrong with debt so long as it's underwritten by an owner who is committed to the long term.
City, Chelsea ( and the Albion) are examples.
You did exceptionally well last season, (thanks to Glenn, Zaha and taking your chances)but it's the exception rather than the rule. Generally the clubs who pay the highest wages take the top spots, although the play offs are slightly less predictable.