Reply With QuoteSo basically we as tax payers have poured £820k into this lame duck company that runs a business model that they know will never be profitable.
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Readings club accounts don't make, very good reading, the club accounts just
published for the 12 months ending June 2020.
The club lost £43m in the 12 months ending June 2020, showing the club
borrowed £87m from the owner, & has accumulated losses of £138m.
Auditors say there has to be, a ' material doubt as to whether, the company
can continue, as a going concern '.
The average first team weekly wage is £17,460
With the clubs overall wage & salary bill, was £37.6m.
Fans responding to announcement, one put -
Reading 2019/20 accounts published
Operating loss £43m
Wages 211% of revenue
Total accumulated losses £138m
Borrowing £87m
Furlough income £820,000
Player signings £16m
Average weekly wage £17,460
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So basically we as tax payers have poured £820k into this lame duck company that runs a business model that they know will never be profitable.
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Unfortunately, that is the kind of money that such as ourselves and Wycombe have to compete with at this level
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Cant wait for the pigs accounts, expected sometime in the next three years
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They are getting cured by the auditorsOriginally Posted by gm_gm
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They will be OK as I just saw on the news they are expecting a global pork shortage (pork chops already closing in on $20/lb here). All their Chairman has to do is trade wisely on the pork futures markets
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Readings accounts was for end of June 2020.
What about the impact of the pandemic, & loss of match day revenue, for this season.
Looks like their owner is dreaming of money, from the premier league, so has he
gambled on Reading getting promoted.
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I can get you a Kilo of chops for about £10 plus postage !They will be OK as I just saw on the news they are expecting a global pork shortage (pork chops already closing in on $20/lb here). All their Chairman has to do is trade wisely on the pork futures markets
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Meat prices are a mystery here. I can get Sirloin steaks for around $3.99/lb but some sausages are $6.99/lb. Go figure.
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They'll just blame the Covid situation, even though most of the season was before it kicked in.
These figures are ridiculous and this is after the fiddled the sale of the ground to himself.
Relegate them, then we deffo stay up.
Funny thing is, what will the EFL actually do about it????? Answers on pin head...................
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