The authoritative and thorough Swiss Ramble has reviewed the 2018/19 accounts of Stoke City. Despite relegation, Stoke City cut their pre-tax loss from £30m to £15m, even though revenue dropped £57m (45%) from £127m to £71m and profit on player sales fell £4m to £18m, as costs were down £75m. The Swiss Ramble comments from Zurich, 'The £15m loss is obviously not great, though in fairness very few clubs manage to make money in the challenging Championship environment. Worth noting that the highest losses are often reported by the promoted clubs – though these invariably include hefty promotion bonuses.' He adds, 'Following four consecutive years of (small) profits between 2014 and 2017, Stoke have now posted losses two years in a row, adding up to £45m in total (£30m in 2018 and £15m in 2019), though worth noting that £31m of this is from impairment (non-cash) adjustments.' Revenue trends The main reason for Stoke's £57m revenue reduction was broadcasting, whic...