Down to player sales and the JPT run to Wembley. Not regular occurrences. Average profit over the last 20 years has been below £100k.
And you can’t compare against loss-making clubs, because those clubs make losses because they have assets they can use as collateral for debt, or owners that are willing to underwrite the debt. We don’t have that. We literally couldn’t make losses on that scale.
Regardless, none of this changes the fact, that as a business, WFC has very little profit making ability in it’s current setup. And with the debt, and lack of tangible and saleable assets, has next to no value.
I don’t have to figures to hand, but I can get hold of them later, but I’m pretty sure that WFC hasn’t made more than £2m worth of profit in the last 20 years.
And you’re telling me that this business (with debts of £1.5m)…is worth something?