The true extent of Aston Villa’s financial woes were revealed as their holding company released results from 2017/18.
It was revealed the club was losing £1million a week in 2017/18, a situation that almost led to their financial collapse last summer.
The results were posted on Twitter on Wednesday morning and fans from various clubs responded.
They’re not the only Championship club to gamble everything on a return to the Premier League. The BBC revealed that Wolves also lost £1million a week in 17/18 ?– the difference being they got promoted, while Aston Villa lost out in the play-off finals.
Such are the fine margins in football but financial woes are never more common than in the Championship, where there’s a stark divide between the riches of the Premier League and the league below. Especially when parachute payments run out.
Wolves got promoted and Villa survived, but it shows the huge risks that clubs feel they need to take to get the players they think will propel them back into the big time.
You can see the Villa financial results below, along with some of the best reactions from fans.
Aston Villa trading losses exceed £1 million a week in 2017/18 as holding company publish results. #AVFC pic.twitter.com/Co41gGV7It
— Kieran Maguire (@KieranMaguire) March 6, 2019
Villa paid £106 in wages for every £100 of income in 2017/18. Income likely to fall by £25m in 2018/19 as in final parachute year.
— Kieran Maguire (@KieranMaguire) March 6, 2019
Here are the best reactions from football fans:
How are they getting away with this under FFP? Not the first year of big losses for them is it?
— GXBlue (@GXBlue1) March 6, 2019
https://twitter.com/SupersizedSam/status/1103189605006954497
Shows how close Xia and Wyness took us to the edge of oblivion, reckless spending on wages on slow old has beens and short term loans. Glad the future is young, up and coming players. #AVFC
— Proud To Be British ?? (@r1chuk) March 6, 2019
https://twitter.com/gsmithy10/status/1103187562624139264
Ffp only applies to some clubs it seems
— Eireleeds1?? (@kevingaff) March 6, 2019
https://twitter.com/SmithyAVPaul/status/1103192214103044096