Quote:
But take a look at the annual review of football finance by the accountants Deloitte, released earlier this year. Players' wage costs are huge, eating up 63 per cent of total turnover in 2006-7. At some overstretched clubs, it is considerably more. And wages rose by 13 per cent in that year. That is ravaging the bottom line. Only eight Premier League clubs recorded an operating profit over that period. And pre-tax losses reached a new high. What all this means is that a hefty proportion of the high revenues of top-level football are going straight out of the door in paying players. One thing they are not being used for is to repay capital debt.
...and bear in mind this is an OLD article that mentions Setantas money coming in, money which many teams may never now see.