Couple of things that stood out for me in liverpool's financial results were the fact that they only paid 10m of the FSG off. This is strange when the interest rate has increased to 2.4%.
FSG seem determined to eke as much as they can from this stone. Considering it's over 100m profit one can assume they wont be making any payments next year when they make a loss, all the while the loan creeping back up to where it was at the start of this year.
And the staggering wage bill of 263m, which will have increased quite dramatically this year with new deals galore and keira and Fabinho on multi million pound contracts, salahs wage doubling, mane doing the same , TAA etc.
Turnover was basically maximised last year, it could easily drop below 400m.
Even last year that 58% of turnover. With wages going up and turnover down we could see wages of over 300m next year (263m + keita 6m + fabinho 5m + allison 6m + 12monyjs of vvd instead of six 4m + new deal for mane 4m + new deal firmino 4m + new deal Robertson 3m + new deal other 5m? + signing on fees....)
We could a wage to turnover ration of over 80%.
It's no wonder Andy Hughes was being so cautious in his press remarks. He can see the storm ahead.