2012 financial report now out there

Much of the report is to be expected. Nothing too drastic really from what I can understand. For me the telling part is the fact that our revenue depreciated by roughly 28M from 2011-2012. Again outlining that Champions League football is the bread and butter for any club compteting within the top four that doesn't have the financial muscle as likes of City, Chelsea and Utd.
Next year our figures will look better,in terms of revenue, due to the increased money gained from SKY regardless of Champions League football. However,the two together obvoiously help us push on at a faster pace in terms of squad and stadium improvements.

I remember being told last summer that the training ground it is paid for and joe Lewis personally gave us a loan of some sort.

The ethics or how this would be displayed on a report I am incredibly unsure.

So as of June 12, our squad is valued at less than £60m

Nearly half our revenue is from Sky! Wow

In Levy we trust he was the Jew In Sir Alex Ferguson's Back Passage !!

" For me the telling part is the fact that our revenue depreciated by roughly 28M from 2011-2012."

More impressive is how the wage bill remained unchanged, 36m was spent on "plant" , 28m less in revenues, and yet the overall loss was only 4m.

Creative accounting ??

"So as of June 12, our squad is valued at less than £60m"

Is that with depreciation factored in ??
I bet the "insurance" value is twice that.

It just shows the importance of Champions League Football. To establish a trend the season we played in the Champions League should be ignored as this has not been a regular event.

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I thought Bale was worth £60m on his own

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Not worth that in June 2012

June 2013 different story now.