Does a profit tell a full picture of the financial health?

[JA News]

On Monday the Swans confirmed their accounts to July 31st 2020 which showed a pre-tax profit of £2.7m, a big jump from the £7m loss posted in the twelve months previous. The full impact of relegation from the Premier League was continuing to be shown through in the accounts with turnover down to £50m...

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[Cinio Dydd Sul]

Interesting article.

"return at the first time of asking of Norwich, Watford and possibly Bournemouth increases that as it keeps their parachute payments inside the Premier League spread between the clubs there".

What is the actual rule surrounding this then?

 

[PSumbler]

Interesting article.

"return at the first time of asking of Norwich, Watford and possibly Bournemouth increases that as it keeps their parachute payments inside the Premier League spread between the clubs there".

What is the actual rule surrounding this then?

The money doesnt leave the Premier League so effectively gets split I believe

https://www.dailymail.co.uk/sport/football/article-9513213/EFL-ask-Premier-League-70m-saved-parachute-payments-Watford-Norwich-promoted.html

 

[bakajack]

Parachute payments that had been allocated but are not needed due to being promoted back to the premier league are given to the EFL to be split amongst clubs. It is for a similar reason that it is a traditional gentleman's agreement that the winner of the championship playoff final usually donates their share of the matchday income to the losing finalist.

 

[Cinio Dydd Sul]

"Parachute payments that had been allocated but are not needed due to being promoted back to the premier league are given to the EFL to be split amongst clubs".

I thought this too, but the articles suggest the money is shared amongst the Prem teams?

 

[PSumbler]

The articles in the press suggest a very opposite position

https://www.dailymail.co.uk/sport/football/article-9513213/EFL-ask-Premier-League-70m-saved-parachute-payments-Watford-Norwich-promoted.html

 

[NeathJack]

"Parachute payments that had been allocated but are not needed due to being promoted back to the premier league are given to the EFL to be split amongst clubs".

I thought this too, but the articles suggest the money is shared amongst the Prem teams?

I'm certain this used to be the case. It wouldn't surprise me if the PL have changed that though.

 

[Marchamjack]

"Parachute payments that had been allocated but are not needed due to being promoted back to the premier league are given to the EFL to be split amongst clubs".

I thought this too, but the articles suggest the money is shared amongst the Prem teams?

I'm certain this used to be the case. It wouldn't surprise me if the PL have changed that though.

It used to be the case yes, but only as a gentleman’s agreement to do so, never enshrined in any rules/laws, but that practice stopped a while ago i believe, not sure when.