To save you the bother of reading the readily available annual reports.
Y/E June 2007 - £4m Operating Loss.
And as reported in the trading update
Y/E June 2008 - £17m Opertaing Loss.
How come the £13m extra loss you ask? £6.7m reduction from the loss of parachute payment. I would imagine the additional £6.3m loss has resulted from a combination of
Higher wages for new players (Euell, Saga, Thomas, Safri, John)
Loan deal salaries for Wright, Dailey, Lucketti, Perry, Hammill, Vignal, Pericard.
a continuation of the downward trend in turnover of items much as matchday income and merchandise.
The payoffs for the boardroom merry-go-round
So there we have it, if costs exceed revenue at somepoint we will be fooked. Selling the family silver (player trading) will save us for now but we are getting to the bare bones of saleable assets.
Basic economics dictate what we have to do now is get the wages and other outgoings to a sustainable level.
The route out - cut our cloth, regroup, remember what got us to the top league many moons ago and attack this league with passion hard work and determination. The crowds will return, the sponsors will clamour, players will want to come, we will get promoted and be the stronger for it. Who knows we may even attract a billionaire. (I am not ITK before yous ask).
My glass is certainly one quarter full as I write this.