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We were doing our accounts each year, but we were using a form of amortisation that was uncommon in football and the EFL (who originally signed off on these documents) eventually took exception and we had to redo our accounts with the industry standard straight line method. They then redid the rules to stop others using the method we were.
Morris had been looking to sell the club since 2019 at least, but his decision making and ongoing battles with the EFL has made the club unappealing to investors for the value he wanted.
Now we find ourselves in admin and the rumour is that Ashley has bid the highest amount £50m which should pay off creditors at an agreed value (unclear of this structure as it’s just a rumour) and include buying back the stadium (rumoured to be ~£20m of the value). It’s an absolute mess, but the EFL are blocking the route out of admin due to these vexatious claims and this could lead to the end of the club as we know it.
roboto-
Regardless of the methods of amortisation, selling the ground, etc it's obvious that wages being 120% of revenue of whatever they were is a hugely risky proposition. They're definitely not the only club in the championship doing that though.
Burnley showed what can be done with sensible spending and a plan. Although sensible financial management seems to end up with being bought by American venture capitalists so fuck knows what that tells you.
aggi
Accounts get released every year. It's pretty obvious that the majority of Championship clubs are screwed if their owners can't fund them.