Villa accounts

[Peachy]

Far worse than that. That's without the Recon accounts.

I didn't understand the significance of that but over on H&V, someone has said "Once Recon accounts are released which contain our wage bill, this is going to get a whole lot worse. Wage bill could be anywhere between £40-50m by my estimates, so when you add that on to the £32m loss, 2017/18 is looking a disaster. I fear an embargo" 

The thing is, they've been chucking money at it this season too. There must be a cunning plan.

It is a £32.5M loss.

These are only published accounts, not the real deal, but you will notice "Administrative Expenses" of £96.8M, which is basically the wage bill, and runs at 150% of turnover.

Just wow. What a complete crock of shit. Even if you strip back to EBITDA, they have lost almost as much in a year as the FFP 3 year rolling loss allows. They have also spunked more money this year, on top of the wage bill.

If this isn't a total abuse of the P&S rules, then I don't know what is.

Another post on H&V: "Purslow and NSWE agreed a 3 year plan with the EFL due to these inherited losses. Coming in at £39m level would make it nigh on impossible to fix quickly. New 3 year rolling cycle a system far as I’m aware and plan in place "

Implication is they've re-set the clock due to getting new owners.

That's outrageous if true. 

The EFL are a bunch of spineless twats

Surely the EFL can't be so stupid. I said a while back that Purslow would definitely have friends in high places when It comes to The EFL and I feared something like this might happen.

If they let this happen though they are opening the door for total abuse of the system going forward.