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@Tenderloin
I've just been doing some maths re: the Manchester City wage bill. The net yearly spend on wages (of playing staff) has increased by £59,400,000 (after tax and before bonusses) from the last published accounts. Obviously this increase goes over 1.5 accounts, but still is pretty frightening.
I could not take into account bonusses/cost o paying off contracts. Obviously City's commercial, matchday revenues will have increased, but considering their wage bill from the last accounts eclipsed their total income by £8million, I'm still struggling to see where they will align themselves financially.
n.b If someone is earning £5.2 million after tax, on an contract signed in 2010, does that mean they will be payed £10.4million before tax, due to the 50% tax threshold? And which figure is entered into the accounts?