Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Birmingham have announced pre-tax losses of £20.5million and warned manager Alex McLeish of the "pitfalls" of the transfer market.
The losses for the financial year ending August 31, 2009, compared with the midlands club making a pre-tax profit of £4.5 million for the previous 12 months.
Blues experienced the big financial loss after being relegated from the Barclays Premier League at the end of the 2007-2008 campaign although they returned to the top flight at the first attempt last May under Alex McLeish.
And the club's audited financial statement blames the loss on "the decision taken by the previous members of the board to retain most of their playing staff from the previous Premier League season".
Previous owners David Sullivan and David Gold quit the club earlier this season and were replaced by Hong Kong businessman Carson Yeung.
Blues splashed out £27.1 million in wages in their successful bid to return to English football's elite.
And, during the promotion season, they also saw turnover from match receipts, broadcasting and commercial revenue drop by £22million.
The statement also hints that McLeish may have more limited funds to spend on new players in the summer.
It reads: "The acquisition of players and their related payroll costs are deemed the core activity risk and, whilst assisting the manager in improving the playing squad, the board is mindful of the pitfalls that are inherent in this area of the business.
"The aim, therefore, is to manage the costs whilst being as competitive as possible with the club's financial restraints."PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments