Accumulated losses at Reading £138m

Reading have published their 2019/20 accounts. Operating losses were £43m. Wages were a massive 211% of revenue, way above the Uefa recommended level of no more than 70 per cent.

Total accumulated losses are £138m. Borrowings are £87m. Player signings cost £16m. Average weekly wage is £17,460.

Reading’s creditors include £87m in loans to owner, £9.7m outstanding instalments on transfer fees and the club has taken advantage of Rishi Sunak’s ‘tax pay delay’ scheme to increase outstanding PAYE due to £6.4m. Loans would have been almost £100m but owner swapped debt for shares.

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The Political Economy of Football V2

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