6 The Guardian | Wednesday 19 May 2010

8.82%

All details from most recently filed official information at Companies House. Debts are borrowings from banks, financial institutions, owners or other sources

Arsenal Aston Villa Birmingham Blackburn Rovers Bolton Wanderers

Turnover £316m ▲
up from £225m in previous year 40% up from £76m in previous year 10.5% down from £50m in previous year 44.4% down from £56m in previous year 10% Same as previous year 0%
Gate and match-day income £100m
TV and broadcasting £73m
Retail
Commercial
£14m
£34m
Property development £88m
Player trading £4m
Wage bill £104m ▲
up from £101m in previous year 3%
Wages as proportion of turnover 32.9%
Profit before tax £46m Loss before tax £46m Loss before tax £20m Profit before tax £3.6m Loss before tax £13m
Debts £265m Debts £114m Debts £2.85m Debts £20m Debts £67m
Interest payable £25m
Highest paid director
Ken Friar £1.405m
Accounts for the year to 31 May 2009
Ownership
Arsenal Holdings PLC major shareholders are:
Danny Fiszman (Swiss resident) 16.11%
Lady Nina Bracewell-Smith 15.9%
Kroenke Sports 29.98%
Red and White Securities Limited 26.44%
Money put in by owners Nil
Turnover £84m ▲
Gate and match-day income £23m
TV and broadcasting £49m
Commercial £12m
Wage bill £71m ▲
up from £50m in previous year 42%
Wages as proportion of turnover 85%
Interest payable £6m
Highest paid director
Unnamed director £0.23m
Accounts for the year to 31 May 2009
Ownership
Reform Acquisitions LLC
owned ultimately by Randy Lerner
Money put in by owner £105m
in interest bearing loans Interest free loans
Turnover £28m ▼
Gate and match-day income £5.3m
TV and broadcasting £15.8m
Commercial £31m
Wage bill £27m ▲
up from £26m in previous year 4%
Wages as proportion of turnover 96%
Interest payable £1m
Highest paid director
Karren Brady £0.466m
8.82%
Accounts for the year to 31 August 2009
Ownership
Grandtop International Holdings
incorporated in the Cayman Islands
Money put in by owners Nil
Turnover £51m ▼
Gate and match-day income £7m
TV and broadcasting £35m
8.82%
Commercial £9m
Wage bill £46m ▲
up from £40m in previous year 15%
Wages as proportion of turnover 90%
Interest payable £0.86m
Highest paid director
John Williams £0.323m
3.80%0.43%
Accounts for the year to 30 June 2009
Ownership
Trustees of the Jack Walker 1987 Settlement
Trust registered in Jersey (a tax haven)
Money put in by owners £5m
Turnover £59m =
Gate and match-day income £8m
TV and broadcasting £37m
Hotel 3.80%0.43%
Corporate hospitality
£7m
£2m
Merchandising £1m
Sponsorship/advertising £3m
Wage bill £41m ▲
up from £39m in previous year 5%
Wages as proportion of turnover 69%
Interest payable £4.3m
Highest paid director
Phil Gartside £0.584m
0.09%24.18%13.12%
Accounts for the year to 30 June 2009
Ownership
Edwin Davies, resident in the Isle of Man, a tax haven, owns
95% of club via his private trust, Fildraw
Money put in by owners £23m
Loaned by Davies at 10% interest a year

Turnover Turnover Turnover Turnover Turnover

Wage bill
8.82%
Wage bill
3.80%0.43%
Wage bill
0.09%24.18%13.12%
Wage bill
0.67%1.37% 1.23%1.53%
Wage bill

Premier League debt Premier League debt Premier League debt Premier League debt Premier League debt

8.82% 3.80%0.43% 0.09%24.18%13.12% 0.67%1.37% 1.23%1.53% 2.23%6.89%23.88%2.68%

State they're in
Arsenal can justifiably claim the rudest
financial health in the Premier League.
Arsenal’s borrowings were to make a
genuine investment – build the Emirates
Stadium, and apartments in the old
Highbury, which are now providing
3.80%
huge returns. The £316m turnover was
the highest by an English football club,
ever.
There are three principal challenges: for
Arsène Wenger to deliver success on
the field; the Emirates must remain full,
and the ownership war between Stan
Kroenke and Alisher Usmanov must be
satisfactorily resolved. .
State they’re in
Still a relatively happy home under the
ownership of the “good” American,
Randy Lerner but he appears to have
decided he will not put bottomless
money in. Martin O’Neill may want
more to spend, but for Lerner it has been
0.09%24.18%
sobering that even with an excellent
manager, £105m invested gets a great
old club only to sixth. There is a hard
edge to Lerner’s method too; the money
is loaned in from his holding company
in the US, and interest is charged.
His US company also charged huge
8.82%
management fees, £7.7m, in 2008-09,
although they were not actually paid.
State they’re in
David Sullivan and the Gold brothers
left Birmingham City in a lean state
financially before they collectively
pocketed £40m for selling the club
to Grandtop in October. The club was
almost debt-free, while Sullivan and
0.67%1.37% 1.23%
the Golds had been prepared to sustain
the £20m loss in the Championship to
back Alex McLeish and keep the players
who would win promotion. Whether
Grandtop’s chairman Carson Yeung
fulfils his promise of providing £80m
to spend on players remains an open
question.
State they’re in State they’re in
Punching above their weight simply Still in the Premier League and bailed
by surviving in the Premier League, out financially through the backing
although Rovers were only ever there of Davies, who made his fortune in
due to £100m spent and written off kettle technology, lives in the Isle of
by the former owner Jack Walker and, Man, and puts his money in at a price.
since his death, the trustees of his Chairman Phil Gartside talked of the
2.23%6.89%23.88%2.68%
estate. Chairman John Williams has
talked the trustees into providing £3m
0.5% 4.09%1.60%
“fear factor” surrounding relegation,
due to the financial gap between the
funding, which he believes can give the Premier League and Championship. His
club the edge they need. Rovers will proposals for a two-tier Premier League,
always struggle without huge backing to which would help soften the blow, were
compete against bigger clubs, but they rejected. Even with Davies lending
are shrewdly-run and have made it as a money in, survival in the world’s
0.43%
Premier League member to the £3.1bn 13.12%
richest league remains Wanderers’ most
TV deals now due to roll in from 2010-13. realistic aspiration.

0.09% 0.67%1.37% 2.23%6.89%23.88% 0.5% 4.09%1.60% 0.58%2.30%

Liverpool
Turnover £185m ▲
up from £164m in previous year 12.8% up from £82m in previous year 6.1% up from £257m in previous year 9% down from £70m in previous year 14% up from £11m in previous year (Championship) 391%
Gate and match-day income £42m
TV and broadcasting £75m
Commercial 8.82%
£68m
Manchester City Manchester United Portsmouth Stoke City
Turnover £87m ▲ Turnover £279m ▲ Turnover £60m ▼ Turnover £54m ▲
Gate and match-day income £15m Gate and match-day income £109m Gate and match-day income £11m
Commercial £23m TV and broadcasting £100m TV and broadcasting £42m
3.80%0.43% Commercial £70m 24.18%13.12%
Sponsorship
Retail
£4m
£2m
1.23%1.53%

Wage bill £103m ▲ Wage bill £83m ▲ Wage bill £123m ▲ Wage bill £65m ▲ Wage bill £30m ▲
0.67%
up from £90m in previous year
Wages as proportion of turnover
14%
56%
2.23%6.89%
up from £54m in previous year
Wages as proportion of turnover
54%
95%
0.5% 4.09% 44%
up from £121m in previous year
Wages as proportion of turnover
1.7% up from £55m in previous year
Wages as proportion of turnover
0.58%2.30%
18%
108%
up from £12m in previous year
Wages as proportion of turnover
0.01%
150%
56%
Loss before tax £55m Loss before tax £93m Profit before tax £22m Loss before tax £13m Profit before tax £0.5m
Debts £394m Debts £37m Debts £717m Debts £123m Debts £17.4m
Interest payable £40m Interest payable £2.7m Interest payable £69m Interest payable n/a Interest payable £0.15m
Highest paid director Highest paid director Highest paid director Highest paid director Highest paid director
Rick Parry £4.238m Garry Cook £1.515m David Gill £1.838m Peter Storrie £1.2m Denise Coates £1.3m
82% Figure includes a £3m pay-off
3.80%0.43%
Accounts for the year to 31 May 2009
0.09%24.18% 13.12%
Accounts for the year to 30 June 2009
1.37% 1.23%1.53%
salary in 2008
23.88%2.68%
paid to Coates by Bet365 Group

Accounts for the year to 31 July 2009 Ownership Ownership Accounts for the year to 31 May 2009 Accounts for the year to 31 May 2009
Ownership Sheikh Mansour bin Zayed Al Nahyan owns 100% of club Owned by Malcolm Glazer and his family via Red Football Ownership Ownership
Kop Investment LLC owns club via Cayman Islands tax haven Via the Abu Dhabi United Group, registered in the United Arab Limited Partnership and Red Football General Partner Inc, Owned by Balram Chanrai via Portpin Limited, registered Owned by Bet365 Group controlled by Denise Coates,
Company registered in Delaware, a low tax US state. Tom Hicks Emirates both registered in the low tax state of Nevada in the British Virgin Islands, a tax haven daughter of chairman, Peter and family
2.23%
and George Gillett are equal owners
Money put in by owners
0.5% £395m Money put in by owners
0.58% Nil Money put in by owners
0.01%
£53m Money put in by owners £24m
Money put in by owners Nil in loans from owners in interest free loans, which they are preparing to convert
Interest-bearing loans into shares

Turnover Turnover Turnover Turnover Turnover

80%0.43%
Wage bill
0.09%24.18% 13.12%
Wage bill
0.67%1.37% 1.23%1.53%
Wage bill
6.89% 23.88%2.68%
Wage bill
4.09%1.60%
Wage bill

Premier League debt Premier League debt Premier League debt Premier League debt Premier League debt

09%24.18%13.12% 0.67%1.37% 1.23%1.53% 2.23%6.89%23.88%2.68% 0.5% 4.09%1.60% 0.58%2.30%

State they’re in State they’re in State they’re in State they’re in State they’re in
Appalling. Tom Hicks and George Sheikh Mansour has invested £395m Scandalous. The grim details of the The Premier League’s cautionary tale. A club rebuilt in the Premier League,
Gillett promised they were not “doing into City in two years, paying off the Glazer family’s 2005 takeover finally The recipe is simple: owner (Sacha owned by lifelong supporter Peter
a Glazers” when they bought Liverpool club’s debts, spending massively on dawned on the wider world after the Gaydamak) subsidises overspending, Coates and his family, subsidised by
in 2007 but they have, saddling the players and pumping up the wage bill prospectus in January for the family to club signs unaffordable squad and wins the vast online gambling revenues of
club with the £185m debts they took – all for a fifth place finish. Mansour’s borrow £500m for the third time in four the FA Cup, owner runs out of money, the family’s bet365 group (£3.5bn bets
on to finance their own takeover. Royal intention to spend what it takes of his years. The Glazers have never put a cent club cannot pay the wages, the PAYE tax taken in 2008-09, profits of £72m). Since
.67%1.37% 1.23%
Bank of Scotland and Wachovia are
2.23%6.89%
giving only short-term extensions for
23.88%2.68%
Abu Dhabi oil fortune to buy City into
the European elite remains unshaken,
0.5% 4.09%1.60%
into United, but have charged £12.9m
in management fees since 2006 and
0.58%2.30%
on them or their other commitments.
Portsmouth’s administrator’s report
0.01%
Coates bought Stoke for the second
time in 2006, the family has invested
repayment of £250m bank loans and the and they are likely to outspend all personally borrowed £10m from the club revealed total debts of £122.8m and the £39m. They are preparing to convert
£40m interest charged is a major drain. other clubs again this summer. The in December 2008. Interest, fees and higher profile of a Premier League club this investment from loans to shares
Hicks and Gillett did loan in £144m only cloud on the blue horizon is Uefa’s other charges on the debts the Glazers fallen insolvent exposed more widely so the club will have no debt. Coates
from their Cayman Islands holding introduction of “financial fair play” took on to buy the club, which they then the leagues’ “football creditors” rule. describes this as “a superb position
company at 10% annual interest payable rules. They require clubs to break even made United responsible for paying, That means 85 ordinary staff could be given the perilous current state of many
by the club. Failure to qualify for the after 2013, and to no longer be reliant, amounted to £460m in four years. The laid off and ordinary creditors including Premier League and Championship club
Champions League and slipping to as City have so dramatically become, on club made a profit in 2009 only because St John Ambulance left unpaid, while finances.” He acknowledges that the
seventh will cost Liverpool over £30m. the chequebooks of owners. they sold Cristiano Ronaldo. players must be paid in full. club must become self-financing.

23%6.89%23.88% 0.5% 4.09%1.60% 0.58%2.30% 0.01%

 The Guardian | Wednesday 19 May 2010 7

8.82% 0.43%

Burnley Chelsea Everton Fulham Hull City

Turnover £11m ▲ Turnover £209m ▼ Turnover £80m ▲ Turnover £67m ▲ Turnover £51m ▲
up from £9m in previous year 22.2% down from £213.6m in the previous year 2.2% up from £76m in previous year 5.3% up from £53.7m in previous year 24.8% up from £11m in previous year (Championship) 363.6%
Gate receipts including TV £7m Football activities £185m Gate and match-day income £22m Gate and match-day income £11m
Catering £1m Hotel and catering £9m TV and broadcasting £49m TV and broadcasting £43m
Commercial
Shop sales
£2m
£1m
Merchandising
Other
£10m
£5m
8.82%Commercial £9m 3.80%0.43%
Commercial
Other income
£9m
£4m
24.18%13.12%

Wage bill £13m ▲ Wage bill £167m ▼ Wage bill £49m ▲ Wage bill £46m ▲ Wage bill £34m ▲
up from £10m in previous year 30% down from £172m in the previous year 3% up from £44m in previous year 9% up from £39m in previous year 18% up from £14m in previous year 142%
Wages as proportion of turnover 118% Wages as proportion of turnover 80% Wages as proportion of turnover 61% Wages as proportion of turnover 69% Wages as proportion of turnover 67%
Loss before tax £12m Loss before tax £47m Loss before tax £7m Loss before tax £8.4m Profit before tax £2m
Debts £13m Debts £726m Debts £41m Debts £207m Debts £15m
Interest payable £3m Interest payable Nil Interest payable £4m Interest payable £2m Interest payable £1.6m
Highest paid director Highest paid director Highest paid director Highest paid director Highest paid director
No directors were paid during the year Peter Kenyon £2m Robert Elstone £0.244m Alastair Mackintosh £0.137m Understood to be Russell Bartlett £1.035m

Accounts for the year to 30 June 2009

8.82%
Accounts for the year to 30 June 2009
3.80% 0.43%
Accounts for the year to 31 May 2009
0.09% 24.18%13.12%
Accounts for the year to 30 June 2009
1.37% 1.23%1.53%
Accounts for the year to 31 July 2009
Ownership Ownership Ownership Ownership Ownership
Major shareholders are: Roman Abramovich owns 100% of club Everton Football Club Company Ltd major shareholders are: Mafco Holdings Limited Russell Bartlett
Barry Kilby 30% Bill Kenwright 25% Company based in Bermuda, a tax haven, and owned by owns club via Isis Nominees, a company registered in Jersey,
Brendan Flood 24.5% Money put in by owners £726m Jon Woods 19% Mohamed Al Fayed and his family a tax haven
Interest free loans Robert Earl (resident of Florida) 23%
Money put in by owners £7m Money put in by owners £183m Money put in by owners Nil
Interest-bearing loans Money put in by owners Nil Interest free loan

Turnover Turnover Turnover Turnover Turnover

8.82%
Wage bill
3.80% 0.43%
Wage bill
0.09% 24.18%13.12%
Wage bill
0.67% 1.37% 1.23%1.53%
Wage bill
6.89%23.88%2.68%
Wage bill

Premier League debt Premier League debt Premier League debt Premier League debt Premier League debt

3.80%0.43% 0.09%24.18%13.12% 0.67%1.37% 1.23%1.53% 2.23%6.89%23.88%2.68% 0.5% 4.09%1.60%

State they’re in State they’re in

Promotion to the Premier League in
2009 saved Burnley from a financial
“horror story”, as the chairman, Barry
Kilby admitted; £12m losses in the
Championship were not sustainable
and Brendan Flood’s property company,
0.09% 24.18%
Modus, which had funded the club,
went into administration. Burnley
0.67%
arrived in the Premier League, spent
very little, banked the TV windfalls,
repaid Kilby and the other directors
their loans, and went down again.
That is the safe way to do it, and with
parachute payments,8.82%
the club will be
financially strong to try to come back up. still reliant on Abramovich’s whim and
Double winners Chelsea wrested the
title back from debt-laden Manchester
United but only thanks to a thundering
loss subsidised by Roman Abramovich’s
indulgence. Chelsea announced this
year that their Russian owner had
1.37% 1.23%
written off his huge loan and converted
it to shares, but in fact this did not
2.23%
happen in his ultimate Chelsea holding
company; it still owes him £726m. The
squad may have triumphed this year but
it needs renewing and, with the famous
target of breaking even by 2010 almost
certainly not achieved, the club 0.43%
are
wallet.
State they’re in State they’re in State they’re in
This was the year want-away Everton Delirious, but wholly reliant on Heading for the Championship with
had planning permission refused for Mohamed Al Fayed. Fulham’s rampage an insolvency practitioner already
their new stadium proposal, which to the Europa League final under Roy appointed. The less well-understood
Tesco were going to subsidise in Kirkby. Hodgson was one of the season’s great aspect of this story is the role played by
Rocked back to the drawing board at stories, met with sweet timing by Russell Bartlett, who bought the club
6.89%23.88%2.68%
dear old Goodison Park, Everton should
probably learn to count their blessings:
0.5% 4.09%1.60%
Fayed’s £1.5bn windfall from selling
Harrods. Fayed has complained about
0.58%2.30%
in 2007. He has not invested money
in the club overall, having taken £4m
good crowds at a ground the fans love, a rising player wages and without the out to fund his own purchase. The club
team performing spiritedly again under Harrods cash cow, he will want to stop borrowed to sign players, and after dire
David Moyes, all with a solid enough putting money into Fulham at some warnings from the auditors about City’s
turnover and no risk of meltdown. point – the love affair with Craven ability even to continue in business,
Chairman Kenwright struggles to raise Cottage has cost him £183m so far in Bartlett loaned £4m back in. With the
the money for new signings, though, 13.12%
loans. He has, over the years, proved 1.53%
£1m salary he was apparently paid in
hence the loss, which was caused by a himself one of the Premier League’s 2008-09, he has taken more money out
net spend of £9m on players. most indulgent owners. of the Tigers than he has loaned in.

0.67%1.37% 2.23%6.89%23.88% 0.5% 4.09%1.60% 0.58%2.30% 0.01%

Sunderland Tottenham Hotspur West Ham United Wigan Athletic Wolves
Turnover £65m ▲ Turnover £113m ▼ Turnover £76m ▼ Turnover £46m ▲ Turnover £18m =
up from £64m in previous year 1.5% down from £115m in previous year 2% down from £82m in previous year 7% up from £42m in previous year 10% Same as previous year 0%
Gate and match-day income £14m Gate and match-day income £28m Gate and match-day income £18m Gate and match-day income £7m
TV and broadcasting £35m TV and broadcasting £45m TV and broadcasting £44m Sponsorhip, advertising and broadcasting £4m
Sponsorship and royalties
Commercial
3.80%0.43% £8m
£8m
Sponsorship and hospitality
Commercial
24.18%13.12%
£27m
£6m
Commercial
Retail and merchandising
£10m
£4m
1.23%1.53% 2.68%
Commercial
Other
£5m
£2m
Merchandising £7m

Wage bill £50m ▲ Wage bill £60m ▲ Wage bill £67m ▲ Wage bill £42m ▲ Wage bill £17m ▲
2.23%
up from6.89%
£37m in previous year
Wages as proportion of turnover
35%
77%
0.5% 4.09%
up from £53m in previous year
Wages as proportion of turnover
13%
53%
0.58%2.30% 88%
up from £65m in previous year
Wages as proportion of turnover
3% up from £38m in previous year
Wages as proportion of turnover
0.01% 11%
91%
up from £14m in previous year
Wages as proportion of turnover
21%
94%
Loss before tax £26m Profit before tax £33m Loss before tax £16m Loss before tax £6m Loss before tax £5m ▲
Debts £46m Debts £80m Debts £48m Debts £69m Debts £0.3m
Interest payable £3m Interest payable £3m Interest payable £4m Interest payable £1.6m Interest payable £0.02m
Highest paid director Highest paid director Highest paid director Highest paid director Highest paid director
Niall Quinn £0.88m Daniel Levy £0.68m Scott Duxbury £0.35m Brenda Spencer Unnamed £0.6m
.43% 0.09%24.18%13.12%
Accounts for the year to 31 July 2009 Accounts for the year to 30 June 2009
1.37% 1.23% 1.53%
Accounts for the year to 31 May 2009
23.88%2.68%
amount not declared
1.60%
Accounts for the year to 31 May 2009
Ownership Ownership Ownership Accounts for the year to 31 May 2009 Ownership
Owned by Ellis Short via Drumaville, a company registered Majority owned by Enic International Ltd, registered Danny Gold and David Sullivan 50% Ownership Steve Morgan
in Jersey in the Bahamas, a tax haven. Chairman Daniel Levy Straumur investment bank 50% Dave Whelan and family owns 25% of club personally, and 75% via his company
and family own 29.41% of Enic. Controlling owner via Whelco Holdings Bridgemere Investments, based in Guernsey
0.5%
Money put in by owner
£10m in interest free loans, the rest written off
£77.5m 0.58%
is Joe Lewis, resident in the Bahamas. Money put in by owners 0.01% £20m
to buy 50% in new shares by Sullivan and Gold; Straumur wrote Money put in by owners £40m Money put in by owners £30m
off £10m debt in interest free loans Invested by Morgan in shares in August 2007
Money put in by owners £15m

Turnover Turnover Turnover Turnover Turnover

4.18%13.12%
Wage bill
0.67%1.37% 1.23% 1.53%
Wage bill
6.89%23.88% 2.68%
Wage bill
4.09% 1.60%
Wage bill
2.30%
Wage bill

Premier League debt Premier League debt Premier League debt Premier League debt Premier League debt

37% 1.23%1.53% 2.23%6.89%23.88%2.68% 0.5% 4.09%1.60% 0.58%2.30% 0.01%

State they’re in by an issue of new shares State they’re in State they’re in State they’re in
Mightily relieved that Quinn found Another cautionary tale. The white Dave Whelan’s pet project is in Apparently very healthy after Premier
Short, a private equity investor from State they’re in knight at Upton Park was Bjorgulfur reasonable form as long as he keeps League survival. Following Morgan’s
Dallas, and persuaded him to finance the Apparently thriving, but we are yet Gudmundsson the club faced meltdown pouring money in. Wigan’s improbable takeover from Sir Jack Hayward in
club’s overspending, just as its previous to see how Spurs have financed the when his fortune collapsed and it was rise to the Premier League is due solely August 2007, Wolves did what aspirant
Irish investors were being burned by the huge spending on players for Harry repossessed. The previous year, 2007- to Whelan’s patronage and decent Championship clubs have to do –
recession. Short has invested £67.5m Redknapp and where the funding will 08 was the worst; the Hammers posted management by those he has appointed. gambled financially to win promotion.
89%23.88% 2.68% 0.5% 4.09%
and converted it into shares, a pure
investment into Sunderland, with a
1.60%
come from for the proposed new 56,000
seat stadium. The policy has borne
0.58% 2.30%
a £72m loss and in May 2008 and 2009
the club was in default with the bank.
0.01%
The accounts note net liabilities, owed
to all creditors, of £54m, predict “further
This 2008-09 picture shows them
making a £5m loss, serious in the
further £10m loaned in interest free. fruit, though; the club is making a tidy Sullivan and Gold have shrewdly paid losses anticipated in 2010 and 2011” and Championship, after spending 94% of
Quinn says Short remains committed, £113m turnover and after claiming the for 50% of West Ham half of what they state there is “a material uncertainty the turnover on wages, but the gamble
and believes a club with Sunderland’s cherished fourth place, will increase received for selling their Birmingham which may cast significant doubt about worked as the club reached the Premier
tribal support will grow in stature and earnings next season. Enic, the holding stake, and are looking to run the club the company’s ability to continue as League land of plenty. Wolves are
ultimately be more valuable financially company owned by Levy and Lewis, tightly, while pitching for generous a going concern.” Whelan pledged to debt-free and in a good position to sign
too. Pressure willintensify on Steve invested almost £15m via a new share terms to occupy the Olympic stadium keep putting the money in so his Wigan players next season, although Morgan
Bruce next season for a better return on issue, genuine investment by the after 2012 to secure more control. venture continues. continuously warns that his club, and all
all those millions than 13th place. owners towards the new stadium. clubs, should live within their means.

0.5% 4.09%1.60% 0.58%2.30% 0.01%