Players make hay as EPL clubs land in debt
Premier League clubs paid their players and other staff a record £1.8bn (Rs 18321 crore) in 2012-13, up 11% on the previous year. Players earning multi-million pound salaries were again football’s clear financial winners, though 12 of the 20 clubs suffered losses.sports Updated: May 02, 2014 00:38 IST
Premier League clubs paid their players and other staff a record £1.8bn (Rs 18321 crore) in 2012-13, up 11% on the previous year. Players earning multi-million pound salaries were again football’s clear financial winners, though 12 of the 20 clubs suffered losses. Here is an overview of how the annual accounts of some of the clubs look after 2012-13:
Clubs in the red
Though the clubs made a record £2.7bn (Rs 27517 crore approx) combined income, they nevertheless made a loss overall, of £291m (Rs 2961 crore).
Twelve of the 20 clubs made a loss in 2012-13, with five clubs losing £50m (Rs 508 crore approx) or more: Aston Villa, Chelsea, Liverpool, Manchester City and Queens Park Rangers.
Players rule the roost
The overwhelming majority of money earned unquestionably goes in galactic earnings of players as compared to that for the support staff.
Only Manchester City, of the 20 current Premier League clubs, had responded by committing to paying a living wage, of £7.65 (Rs 779.5) an hour, or £8.80 (Rs 896.6) in London.
The clear exception to that culture of low pay, besides the players and managers, is in the boardroom, where senior executives are lavishly paid.
The highest paid director in 2012-13 was Southampton’s executive chairman, Nicola Cortese, who earned £2.129m (Rs 21.67 cr). Next highest paid was Ivan Gazidis (right), who as Arsenal’s chief executive earned £1.825m (Rs 18.57 cr).
Salary packages of more than a million pounds went to the highest paid director at nine clubs altogether: Arsenal, Chelsea, Liverpool, Manchester United, Norwich City, Southampton, Tottenham Hotspur, West Bromwich Albion and West Ham United.
QPR better Atletico
QPR, who spent heavily on players for managers Mark Hughes and Harry Redknapp but still went down to the Championship, made a £65m (Rs 662 cr) loss and had £177m net debt, much of it loans from owners Tony Fernandes and partners. Rangers’ wage bill, £78m, was 128% of the club’s entire income, and substantially higher than Champions League finalists Atlético Madrid, whose 2012-13 wage bill was €66m Rs 549.78 cr).