[Football] Reading - financial mess

Tooting Gull · Mar 12, 2019

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 · Mar 12, 2019

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

Barham's tash · Mar 12, 2019

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 · Mar 12, 2019

[tweet]1104432213700083713[/tweet]

They've also started singing 'Glad All Over'

Coincidence?

Stat Brother · Mar 12, 2019

Barham's tash said:
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 · Mar 12, 2019

Stat Brother said:
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 · Mar 12, 2019

#cashtinpot

Papa Lazarou · Mar 12, 2019

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

Stat Brother · Mar 12, 2019

Papa Lazarou said:
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 · Mar 12, 2019

Papa Lazarou said:
Who was the centre back they refused to sell to us?

https://www.northstandchat.com/showthread.php?364508-Liam-Moore&highlight=Reading

The thread that just keeps on giving

James Bond's body double · Mar 12, 2019

Papa Lazarou said:
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 · Mar 12, 2019

Stat Brother said:
Is he injured?

Not according to TransferMkt

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el punal · Mar 12, 2019

Tooting Gull said:
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 · Mar 12, 2019

Shame.

Pavilionaire · Mar 12, 2019

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

Stat Brother · Mar 12, 2019

Pavilionaire said:
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 · Mar 12, 2019

Exile said:
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 · Mar 12, 2019

El Presidente said:
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 · Mar 12, 2019

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 · Mar 12, 2019

Good. Hope they go into meltdown.

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