The Championship really is a mess when it comes to money. twoht starts with QPR and keeps on going...
Championship clubs are releasing their accounts for last season and the numbers don’t look good, but this is only one of the issues in the second tier.To say that this season has been one of ups and downs for Queens Park Rangers would be putting things mildly.
almost £90m still owed in various loans and player transfer instalments, as well as an outstanding settlement over Financial Fair Play breaches. An increased playing staff accounted for a 10% increase in wage costs. And all these losses came despite the club increasing their turnover by 7% on the previous year.
It’s easy to see why parachute payments are considered to be especially smothering. While they amount to a substantial cut in the TV revenue of the relegated club, they also amount to several times the average of around £9m that Championship clubs make from their current deal with the EFL. It has been reported that this could be about to rise, with greater interest in the next EFL television deal, but this in turn raises questions.
ontrolling shareholder Guochuan Lai took out a £4.95 million loan with interest against the club on behalf of his related party, Wisdom Smart Corporation, which was due to be repaid at the end of 2022, but which hasn’t been. Even Sheffield United, with a place in the FA Cup quarter-finals and a fairly firm grip one of the division’s promotion places, have faced questions over anStoke City this week became the eighth club to post their financial figures for the 2021/22 season, and were the first to report a a profit, though it took the owners of the club writing off £120m in debt for them to do so. Take out that debt write-off, and they lost £18.2m. And even QPR’s £24.
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