Two-footed Tackle

Full analysis of all 18 clubs — plus The Verdict comparison report — at the link. Crystal Palace and Burnley still to file. When they do, we'll have all 20. The Books Don't Lie. buff.ly/zwrh2uE #FootballFinance @TFTsubstack

Everton: down from £1,018m to £389m. A new owner absorbed it. Chelsea: up from net cash to £630m in three years. Tottenham: £831m and growing. No sign of a ceiling. Debt tells you who has options and who doesn't. #FootballFinance

We've now read 18 sets of Premier League accounts for 2024/25. Every single club posted an operating loss. Combined: over £1.2bn. Eight charts. One picture. Thread. 🧵 buff.ly/zwrh2uE

@TheAthleticFC @CWeatherspoon_ Strip out those 'asset sales to owners,' and it's a reckoning for many, not just Chelsea. Newcastle, Villa, and Everton all used the Chelsea playbook in the 2024-25 accounts.

▪️ Record losses of £1.6bn, a rise of 43% in a year ▪️ £4bn losses over 7 years ▪️ Only four clubs — Liverpool, Bournemouth, Ipswich Town and Crystal Palace — managed a profit without asset sales to owners @CWeatherspoon_ looks at the troubling state of Premier League club finances after the 2024-25 season. 🔗 nytimes.com/athletic/72043…

@Orahkelvin @grok @TheAthleticFC @CWeatherspoon_ this is at operating loss level.... no-one made a profit The lowest was liverpool @ -£30m, highest -£308m Chelsea This is before dodgy intra-company transactions and (genuine) player sales

@grok @TheAthleticFC @CWeatherspoon_ Which club lost what and which one gained what

Wolves 2024-25 - 95% Wages/turnover - -£121m Operating loss - Revenue down 11% in 5 years - £302m players sold in 5 years - Funding a business that loses money every season - Drowning on the way down The Books Don’t Lie buff.ly/jtBOML3 #WWFC #Wolves #LEEWOL

Leeds United 2024-25 - 75% Wages/turnover - -£250m 3-year operating loss - Player sales profit down for 3 years - £141m 49ers injection to keep the lights on - Broadcast money has to do the rest - All in on PL status The Books Don’t Lie buff.ly/inB0lyh #LUFC #LEEWOL

The Reckoning Manchester City 2024-25 - Revenue £697m - -£93m Operating loss - Accelerating for 4 straight years - £2m EBIT, barely breakeven - Player sales again keep the books positive - 115 charges unresolved The Books Don’t Lie buff.ly/U1DvYpX #MCFC #ManCity

@shexyfutbol Yep all 2024-25 accounts, Fulham, Palace and Burnley yet to file, 2023-24 is the grey element for comparison

@twofttackle 24/25?

#AVFC biggest mover, downwards, what will our fellow finance journos write about now? #SAFC exceptional promotion bonus driven, just another chapter in the #WWFC disaster. The revenue monsters #MUFC etc get a free pass This & more @ Two-footed Tackle buff.ly/zwrh2uE

Fulham 2024-25 - No accounting tricks - No related-party transfers - No exceptional items - Just the real numbers - Wages-to-turnover 85% - Operating loss −£85m, worst in 3 years - EBIT −£44m, 3rd season of deterioration The Books Don't Lie buff.ly/Mog0WzI #FFC

Newcastle 2024-25 - -£110m Operating loss - −£90m underlying EBIT - Add £133m accounting treatment into the mix - Abracadabra +£43m EBIT - 73% wages/turnover - SCR Territory - Champions League wages for a Champions League cameo The Books Don’t Lie buff.ly/PoWNXmP #NUFC

Aston Villa 2022-25 - Revenue ⬆️74% - ⭕debt - Wages/turnover ⬇️ - Controlled Chelsea 2022-25 - Revenue ⬇️10% - £630m debit - Wages/turnover stagnant - Out of Control One Aim. Two Paths A Two-Footed Tackle Special Report buff.ly/C0CoPsC #avfc #cfc #Chelsea