Championship PSR/wages/income article

[KRO]

https://theesk.org/2026/02/11/the-analys...26-season/
Definitely a few errors btw

[AlsoKeithCurlesToePoke]

Is PSR actually helping, or has it just fuelled a financial chicanery arms race?

[Vinebaggie]

Nothing new, but still makes for grim reading

West Bromwich Albion

West Bromwich Albion demonstrates the severe risks of combining external institutional debt with high operating costs outside the parachute payment system. In 2023-24, turnover halved to £28.2 million following the cessation of parachute payments. Staff costs of £52 million represented a league-high 184% wage-to-turnover ratio. Consequently, the club posted a £37.6 million pre-tax loss, with negative operating cash flows of £29 million. The club’s balance sheet is heavily distressed by third-party debt. A £39 million loan is owed to MSD Holdings, secured via stringent fixed and floating charges over The Hawthorns stadium, local land, and club trademarks. This debt carries punitive interest at 9.75% plus the SONIA rate, draining over £4 million annually in financing costs alone. New owner Bilkul Football WBA injected a £10 million interest-free loan and repaid a defaulted £5 million loan owed by former owner Guochuan Lai, but navigating P&S regulations remains highly precarious.

[PatelsPlatoon]

It helps if you're Man City and are bankrolled by a medieval state, who can wrap a little thing like the Premier League in a legal battle that can be strung out for years.

Basically the system is a crock of shite designed to help a handful of mega-wealthy clubs and allow kids in Malaysia and Indonesia to wear Salah and De Bruyne shirts.

I would add that our owners, whilst I'm hugely thankful to them, just appear to me to be some who can stabilise the club without really moving us forward.

I'm yet to be convinced of a big plan, a vision we can get excited about.

[Remi_Moses]

Clearly shows financially were still in the deep stuff.
Relegation with further losses in revenue would be a nightmare.
We are very much in the hands of the owners, but they must decide if they're going to invest in the club or just keep us afloat.
We are truely thankful, but we all want more.

[Tom Joad 25]

It helps if you're Man City and are bankrolled by a medieval state, who can wrap a little thing like the Premier League in a legal battle that can be strung out for years.

Basically the system is a crock of shite designed to help a handful of mega-wealthy clubs and allow kids in Malaysia and Indonesia to wear Salah and De Bruyne shirts.

I would add that our owners, whilst I'm hugely thankful to them, just appear to me to be some who can stabilise the club without really moving us forward.

I'm yet to be convinced of a big plan, a vision we can get excited about.

I dunno if I've taken that in correctly but I'm even more grateful to Bikul now than before. Look at the state Lai got us into. We all want long term vision, a big plan, but right now I'm simply OK with slow, steady steps into the next financial year.

[CarlosCorbewrong]

14% interest!!! Lai didn’t have a pot to piss in did he?

[SW4Baggie]

Ipswich Town's commerical team needs sacking... only 14.6M in revenue in the Premier League? Crazy!

[Tom Joad 25]

Quick scan through those figures and Bristol City look very healthy (to this admittedly unqualified eye).

[AlsoKeithCurlesToePoke]

How is it clubs don't have clauses in player contracts that their wages track TV income? Shouldn't be that hard to avoid the mess - would they just not sign?
Personally I think performance related pay is the way to go (small weekly wage, bonus on appearances / minutes played / goals / assists / clean sheets etc.), but again I suppose no one would come.