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Financial Results

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Record quarter at United

Indifferent results on the pitch have done no harm to Manchester United's financial results with the club announcing record quarterly earnings which mean that they are on track for year end revenues of £500m or more.

Revenues were £123.4m, up just under 30 per cent on the same period last year.   There was a profit of £11.7m compared with a loss of £7.1m last year.

Cellino: I'm ready to quit

Massino Cellino has said that he is ready to quit Leeds United: 'I've had enough.'   The owner told The Times, 'It's better to walk out, not because I'm dishonest but because I'm tired and hurt and lonely,' as violin music welled up in the background.

He continued, 'I have no happiness any more and don't know if I have the enthusiasm for next season.  If I could turn back time and you ask whether I would come to this club, I would say never.  I've never been so confused.  I am nearly 60 and I would never have expected that from Leeds.'

Bournemouth make big losses - and get fined

Bournemouth made a £38.3m loss in the Championship last season.  The loss was mainly due to players' wages.   The salary bill of £30.4m was more than double the club's turnover.  

Wages went up by more than 76 per cent in one year, including performance bonuses for winning promotion.   The ratio of salaries to turnover was 237 per cent.   I cannot recall such a high ratio among top flight clubs.

Big losses at Brentford

Brentford made losses of £16.7m in 2014-15, an increase of 91 per cent on the previous year, reports Beesotted Brentford.   Turnover at £9.9m was up 124 per cent.   Wages at £17.7m were over 175 per cent of turnover, the highest figure I have seen for a long time.   However, apparently there was a substantial element of bonuses for finishing 5th.

Yeovil Town make big losses

Yeovil Town made a £692,000 loss in 2014-15 as they were hit by relegation to League One.   Turnover dropped from £7.8m to £4m as attendances fell.  Their 2013-14 season in the Championship saw them make a £1.4m profit.  

Burnley's model finances

The author of the Swiss Ramble blog has turned his attention to Burnley whose latest accounts were released recently.   They relate to last season in the Premiership where the Clarets seem very likely to return.

Big debt at Blackburn

Blackburn Rovers have announced losses of £17.2m for 2014/15, seeing their overall debt swell to £104.2m.  This includes £87m of interest free loans to owners Venky's.  The losses do represent an improvement on the £42.1m pre-tax losses recorded in 2013/14.

Blackburn manager Paul Lambert commented, 'There has to be leadership and talking about how to reduce the debt.   You can't just magic that sort of thing out of the air.'

Record profit at Burnley

In stark contrast to the poor financial results from QPR reported below, Burnley recorded a record profit of £30.1m in the financial year to June 2015.   Only Tottenham Hotspur and Manchester United had a bigger profit in the Premier League.

QPR debt rises with big loss

The latest accounts from Queens Park Rangers show that the club's holding company recorded a £45.7m loss last season despite having the benefit of Premier League television income.   They earned £65.9m from Premier League television money last season, which contributed to an overall turnover of £85.8m.

However, £38.8m was spent on players and there was a wage bill of £72.9m.   This represents 85 per cent of turnover, well above the recommended 50 per cent level.   The club's net debt, mainly in the form of loans from shareholders, has risen to £193m.

Liverpool in good financial shape

The author of the authoritative Swiss Ramble blog provides an in depth examination of the finances of Liverpool who recently published their accounts for 2014/15.  He concludes that they are in good financial shape under the Fenway Sports Group, whilst noting the mixed performance on the pitch and the ticket pricing fiasco,