The situation is even worse below Premier League level. In the Championship in the same pre-Covid
season, only two Championship clubs made both operating and pre-tax profits, average wage to
turnover was 107% and average operating losses £16m annually. Leagues 1 and 2 made pre-tax
losses of £22m and £20m respectively.
That is madness no one in their right mind would pay out more in wages that your income
