A detailed study of the accounts of all 20 clubs

LONDON. Financial figures for 2011-12, for the 20 clubs that were in the Premier League during 2010-11. All details from the published annual reports at Companies House. Net debt is as stated in the accounts; debts minus cash held at the bank. The separate categories of turnover are rounded down or up, so added together do not always tally with the total turnover figure.MANCHESTER CITYAccounts for the year to 31 May 2012Ownership: Wholly owned by Sheikh Mansour, via the Abu Dhabi United Group, registered in the United Arab EmiratesTurnover: 4th in league, £231m (up from £153m in 2011)Gate and matchday: £22mTV and broadcasting: £88mCommercial activities: £121mWage bill: 1st, £202m (up from £174m in 2011)Wages as proportion of turnover: 87%Loss before tax: £99m (following £197m in 2011)Net debt: £58mInterest payable: £3mHighest-paid director: Unnamed, £1.1m (John MacBeath was the acting chief executive)State they’re in:The most spectacular example of an individual from the global super rich buying an English football club and funding them to success. Courtesy of Sheikh Mansour’s oil-based fortune, they ran a wage bill £40m higher than Manchester United’s, from income £90m lower, and won the Premier League with the 94th-minute goal by £38m Sergio Agüero. The accounts show a striking contrast between modest matchday income, £22m, with ticket prices lower than London prices, and £121m commercial income, substantially via sponsorships from Abu Dhabi companies. MANCHESTER UNITEDAccounts for Manchester United plc (registered in the Cayman Islands) for the year to 30 June 2012Ownership: Owned by Malcolm Glazer’s six children via Red Football LLC a company registered in the low tax state of NevadaTurnover: 1st in league, £320m (down from £331m in 2011)Gate and matchday income: £99mTV and broadcasting: £104mCommercial activities: £118mWage bill: 3rd, £162m (up from £153m in 2011)Wages as proportion of turnover: 51%Loss before tax: £5m (following a £12m profit in 2011)Net debt: £366mInterest and other finance costs: £50mHighest-paid director: £2,593,000 unnamed (David Gill is the chief executive)State they’re in:The staggering business of the Glazer family and their leveraged buyout of United, now registered in the Cayman Islands tax haven and floated on the New York stock exchange. Pages of the annual report are devoted to the global sponsorships that pushed commercial income to £118m. United remain burdened with £420m debt from the Glazers’ 2005 takeover, at approximately 8.5% interest, which cost the club £50m last year. The takeover has cost United around £550m altogether. Last year the club paid a £10m dividend to the owners, a £3m management fee to the Glazers, and £558,484 interest was payable to Kevin Glazer.NEWCASTLE UNITEDAccounts for the year to 30 June 2012Ownership: Mike Ashley owns Newcastle United via his company, MASH Holdings LimitedTurnover: 7th in league, £93m (up from £89m in 2011)Gate and matchday: £24mTV and broadcasting: £56mCommercial activities: £14mWage bill: 8th, £64m (up from £54m in 2011)Wages as proportion of turnover: 69%Profit before tax: £1m (down from £33m in 2011)Net debt: £129mInterest payable: £0.07mHighest-paid director: Unnamed, £266,000 (Derek Llambias is managing director)State they’re in:Newcastle’s surprise season, Alan Pardew’s shrewd recruits achieving a fifth-place finish and transforming views of Mike Ashley’s ability to run a football club. Ashley has cleared all the club’s debt and loaned £129m himself as financial ballast, before charging Derek Llambias with running affairs commercially. NORWICH CITYAccounts for the year to 31 May 2012Ownership: Majority owned by Delia Smith and her husband Michael Wynn-JonesTurnover: 12th in league, £75m (up from £23m in 2011)Gate receipts: £11mTV and media: £50mCommercial activities: £14mWage bill: 19th, £37m (up from £18m in 2011)Wages as proportion of turnover: 49%Profit before tax: £16m (from £7m loss in 2011)Net debt: Nil; £1m net cash in the bankInterest payable: £2mHighest-paid director: £1,533,000 paid to unnamed director (David McNally is the chief executive)State they’re in:The happy state of a club properly enjoying the first year of promotion to the Premier League. Norwich used the massive TV and commercial windfall, with income up £52m, to pay off all debt while keeping wages under control.QUEENS PARK RANGERSAccounts for the year to 31 May 2012Ownership: 66% by Tune QPR, registered in Malaysia, owned by Tony Fernandes and partners Kamarudin Meranun and Ruben Gnanalingam. 33% by Sea Dream Ltd, family holding of Lakshmi MittalTurnover: 17th in league, £64m (up from £16m in 2011)QPR’s turnover is not broken down into TV and other activities.Wage bill: 12th, £58m (up from £30m in 2011)Wages as proportion of turnover: 91%Loss before tax: £23m (reduced from £25m loss in 2011)Net debt: £89mInterest payable: £0.038mHighest-paid director: Directors of the holding company were not paidState they’re in:Surprisingly under the Air Malaysia entrepreneur Fernandes, they will be lucky to avoid a crash. Rather than banking the Premier League bonanza at a club with only an 18,000 capacity at Loftus Road, they supported Neil Warnock to sign 11 players, sacked him in January 2012 then backed Mark Hughes to sign Nedum Onuoha, Djibril Cissé and Bobby Zamora. STOKE CITYAccounts for the year to 31 May 2012Ownership: Owned by bet365 Group, the online gambling company controlled by Denise Coates, daughter of chairman, Peter, and familyTurnover: 13th in league, £71m (up from £68m in 2011)Gate Receipts: £8mSponsorship and advertising: £6mEuropa League: £5mTV and media: £46mConferencing and hospitality: £3mOther: £0.6mRetail and merchandising: £3mWage bill: 14th, £53m (up from £47m in 2011)Wages as proportion of turnover: 75%Loss before tax: £10m (following £6m loss in 2011)Net debt: £14mInterest payable: NilHighest-paid director: Unnamed, £517,000AgenciesState they’re in:Looking fairly solid financially in this fourth year since promotion to the Premier League in 2008. Backed by the bet365 online gambling fortune of Stoke native Peter Coates and family, whose loan was up to £24m in the year.SUNDERLANDAccounts for the year to 31 July 2012Ownership: Owned by the American Ellis Short via Drumaville, a company registered in JerseyTurnover: 11th in league, £78m (down from £79m in 2011)Gate receipts: £14mTV and media: £47mSponsorship and royalties: £9mConference and commercial: £8mWage bill: 8th, £64m (up from £61m In 2011)Wages as proportion of turnover: 82%Loss before tax: £32m (increased from £8m in 2011)Net debt: £84mInterest payable: £2mHighest-paid director: Niall Quinn, £2,432,702 (includes £2m compensation for resigning)State they’re in:Already making losses on this scale and with the owner, Ellis Short, having loaned in £41m, could not countenance the threat of relegation, hence the sacking of Martin O’Neill. SWANSEA CITYAccounts for the year to 31 May 2012Ownership: Martin Morgan, 22.5%; Brian Katzen, 20%; Swansea City Supporters Society Limited (supporters trust) 20%; chairman Huw Jenkins 12.5%; Robert Davies 10%Turnover: 15th in league, £65m (up from £12m in 2011)All football income: £61mCommercial: £4mWage bill: 20th, £35m (up from £17m in 2011)Wages as proportion of turnover: 54%Profit before tax: £17m (after £11m loss in 2011)Net debt: Nil; £5m cash in the bankInterest payable: £0.3mHighest-paid director: Huw Jenkins, £200,000State they’re in:Identified by the Premier League chief executive, Richard Scudamore, as “probably the ideal ownership model”, among the mostly overseas owners and tax exiles. Supporters trust owns 20%, and elects a director, alongside the businessmen shareholders, who are also fans. TOTTENHAM HOTSPURAccounts for the year to 30 June 2012Ownership: Enic International Limited, registered in the Bahamas, owns 85% of Spurs. Joe Lewis, resident in the Bahamas, has the controlling, 70.6% ownership of Enic, with chairman Daniel Levy and family owning the other 29.4%Turnover: 6th in league, £144m (down from £163m in 2011)Gate receipts, Premier League: £21mEuropa League and cups income: £11mTV and broadcasting: £59mSponsorship and corporate hospitality: £35mMerchandising: £9mCommercial activities: £9mWage bill: 6th, £90m (down from £91m in 2011)Wages as proportion of turnover: 63%Loss before tax: £7m (down from £0.4m profit in 2011)Net debt: £70mInterest payable: £6mHighest-paid director: £2.2m paid to Daniel LevyState they’re in:Well run, but the figures illustrate Spurs’ frustrations with where they are stuck. Considering themselves the rightful north London equals of Arsenal and historically superior to Chelsea, Spurs can only get this far until they have built their long mooted new stadium. WEST BROMWICH ALBIONAccounts for the year to 30 June 2012Ownership: Majority owned by the chairman, Jeremy PeaceTurnover: 14th in league, £67m (up from £59m in 2011)Gate receipts: £8mMerchandising: £3mTV and media: £50mOther commercial income: £6mWage bill: 15th, £50m (up from £39m in 2011)Wages as proportion of turnover: 75%Profit before tax: £1m (down from £9m in 2011)Net debt: £0.5mInterest payable: NilHighest-paid director: Unnamed, £1,133,000 (Jeremy Peace is the executive chairman)State they’re in:Eminently well-run. Accepted yo-yoing between Championship and Premier League for a decade, with chairman Jeremy Peace determined not to splurge into debt in either league. WIGAN ATHLETICAccounts for the year to 31 May 2012Ownership: Owned by Dave Whelan and family, registered in the UKTurnover: 20th in league, £53m (up from £51m in 2011)Premier League TV and other: £46mGate and matchday: £4mSponsorship and commercial: £2mOther: £1mWage bill: 17th, £38m (down from £40m in 2011)Wages as proportion of turnover: 72%Profit before tax: £4m (up from £7m loss made in 2011)Net debt: £12mInterest payable: £0.5mHighest-paid director: Not disclosedState they’re in:Owner Dave Whelan wrote off £48m of loans, converting them to equity. The loan and overdraft from Barclays Bank has also been significantly reduced, from £21m to £13m. WOLVERHAMPTON WANDERERSAccounts for the year to 31 May 2012Ownership: Ultimately owned by Steve Morgan’s company Bridgemere Investments, registered in GuernseyTurnover: 18th in league, £60m (down from £64m in 2011)Gate receipts: £8mSponsorship and advertising: £5mPremier League and broadcasting: £42mCommercial activities: £5mWage bill: 17th, £38m (same as 2011)Wages as proportion of turnover: 63%Profit before tax: £2mNet debt: Nil Wolves had £13m cash in the bankInterest payable: NilHighest-paid director: £1.2m paid to unnamed director

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A detailed study of the accounts of all 20 clubs