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PriceOfFootball
Reading had an operating loss of £40.6m in 2018/19, which is after taking into account £1.7m of management charge income to another group co & £3m loan fee for Sone Aluko to a club controlled by Reading owners. Without these losses would have been over £45m
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading reduced losses to ‘just’ £30m through player disposals & selling training ground to club owners for £13m at a profit of over £8m. The previous season Reading did similar with the Majedski Stadium.
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading did not receive any cash for the sale of the training ground, it was offset against the sum due to owners, who put in £28m of shares and increased loans by £6.5m
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading’s income increased almost solely due to the Aluko loan fee
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading’s wage bill increased by £5.4 million in 2018/19. Excluding the unusual loan fee Reading therefore paid £225 in wages for every £100 of income which is a Championship record, beating Birmingham’s £202 under Harry Redknapp Highest paid director earned £1m
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Player trading: Reading bought players for £7.7m, had sales of £6.3m and wrote down transfer fees by £440k on someone who was a bit bobbins
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Curiously Reading now own a property company that appears to have made profits of nearly £5m in 2018/19
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading were owed £7m by other clubs for transfer fees at 30 June 2019 and owed the club owners £68m out of total creditors of £80m
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading are paying rent of £1.5m a year for the Maj Stad after selling the stadium for £26.5m. For comparison, Derby are paying rent of £1.1m on Pride Park after selling it for £80m had net spend of £14m in player trading 2019/20 & cancelled player contracts for £1m
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PriceOfFootball Apr 3
Replying to @KieranMaguire
Reading had many transactions with companies owned by club owners in 2018/19
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CityFan1998 Apr 4
Replying to @KieranMaguire
Surely there are FFP issues potentially looming in the 3 years to June 2020? Shouldn't be any relaxation IMO, certainly not beyond certain quantifiable falls in gate receipts or TV revenue e.g.
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PriceOfFootball Apr 4
Replying to @Somethingnew223
I just want all clubs to survive. FFP is an irrelevant sideshow at present
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