Wolves had day to day losses of £58m in 2021/22, reports Kieran Maguire. Insurance claim and player sale profits reduced this to ‘just’ £40m, before interest costs added a further £5m to expenses.
Wolves spent £29m more cash than they generated in day to
day trading. Net cash player spend was £11m. As a result Club had to borrow a
further £44m from banks.
Revenue was not very comparable to previous year which was
distorted by lockdown. Matchday up as crowds returned, broadcast down as fewer
matches played compared to 20/21.
Total wage bill down £19m partly due to fewer matches
played. Staff numbers up as lockdown ended. Highest paid director income up 50%.
Interest on loans over £100k a week. Wolves
owe £104m to banks and pay interest of 7% on the sum. Also borrowed from Fosun
in the year interest free.
Wolves bought players for £31m and had sales of £20m. Wolves had a net transfer spend of £121m in
the summer 22/Jan 23 windows.
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