That £17m profit is essentially fake without the women's team sale (£78m) and the warehouse sale (£36m). Strip those out and you're looking at a £97m loss before considering the underlying loss figure.

A club being kept alive by owner injections and clever sales rather than organic profitability.

Revenue £378m ⬆️37%

Wages £273m ⬆️8%

Profit on sale of women’s team £78m

Profit on sale of warehouse £36m

Underlying loss £140m

Player sale profits £52m

Pre tax profit £17m

Total losses over the years £882m

Player purchases £162m

Player sales £131m

Total cost of squad £540m

Borrowings in year £109m

Share issue in year ££94m

Transfer fee payables £159m

by arenaross

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  1. Why is our sponsorships so small? We make more from merchandise and ticket sales than sponsorships. They need to do much better at negotiating