Reading have released their latest set of financial accounts, for the 2021/22 season.
A season in which the club were under an embargo and deducted points, it was also the first post-Covid campaign with fans allowed in from the opening fixture.
Looking more positive than it did for 2020/21, turnover increased by over £3m to hit £16.9m.
Revenue-wise, 2021/22 was the second-worst season under Dai Yongge. Remember though that 2020/21 was the lockdown season.#ReadingFC had been in a much stronger position before Dai arrived in 2017 (the last season of parachute payments). pic.twitter.com/UuixOlcYQu
— The Tilehurst End (@TheTilehurstEnd) March 16, 2023
Wages fell by almost £7m from over £32m in 2020/21 to £25.3m last season.
This, expressed as a percentage of the total turnover, sits at 150 per cent.
For every pound earned, the club spent £1.50 on wages.
Despite seeming ludicrous business practise, it is commonplace in football and has fallen from 234 per cent.
Overall, a loss of £17.3m is the best result since 2016/17- a season when the Royals made a profit.
A 2021/22 pre-tax loss of £17.3m is the best (well, least bad) loss under Dai Yongge.
— The Tilehurst End (@TheTilehurstEnd) March 16, 2023
It's a major improvement on the previous three seasons in particular for #ReadingFC, but still some way off the pre-tax profit in 2016/17. pic.twitter.com/k2KkTfRifu
Since the ownership of Mr Dai, the club have lost almost £150m.
Other interesting facts uncovered by the report is the true figure earned by the sale of Michael Olise.
The youngster lit up the Championship in 2020/21 and earned a sale of £8.1m to Crystal Palace, which went a long way with the financial figures.
It remains unclear how this will effect the ongoing EFL investigation into the club's suspended six-point deduction and whether business plan aims have been met.
Paul Ince's men have lost four on the bounce and sit just nine points clear of the bottom three.
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