The Club’s total wage to turnover ratio has increased from 90% in 2021/22
to 92% in 2022/23. The Club looks to reduce the wage to turnover ratio
going forward, whilst also ensuring that the First-Team squad remains as
competitive as possible. As in previous years, the ongoing outsourcing of
the Club’s retail and catering operations, which reduces turnover (and costs)
when comparing to other clubs who manage these functions in-house, also
results in an artificially inflated wage to turnover ratio. The Club’s total wage
to turnover ratio would increase accordingly from 87% in 2021/22 to 89%
in 2022/23 if retail and catering operations were not outsourced.
The Club recognised an operating exceptional cost of £7.1m, which was
incurred for amounts payable in relation to a change in coaching staff. The
Club also recognised an exceptional impairment charge of £4.8m (2021/22:
£nil) in relation to player registrations.
It's truly shocking, from what I see. The stadium costs aren't included in the operation loss.