Reading Club Accounts Ending June 2020 Published

[Ericsladkilnhurst]

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

[Grist_To_The_Mill]

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.

[frogmiller]

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.

That'll be for none playing staff though.

Community programmes, office staff, admin and ground staff. The Players and coaching staff will have been paid in full.

[Ronners]

Unfortunately, that is the kind of money that such as ourselves and Wycombe have to compete with at this level

[gm_gm]

Cant wait for the pigs accounts, expected sometime in the next three years

[Ericsladkilnhurst]

Cant wait for the pigs accounts, expected sometime in the next three years

They are getting cured by the auditors

[CAMiller]

Cant wait for the pigs accounts, expected sometime in the next three years

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

[MILLERSTALE]

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

I can get you a Kilo of chops for about £10 plus postage !

[CAMiller]

I can get you a Kilo of chops for about £10 plus postage !

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.

[Grist_To_The_Mill]

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.

It’s called “value added”