Chelsea’s wage bill the highest in Premier League
Premier League Champions Chelsea have the highest wage bill in the entire Premier League- a whopping 172.5 million pounds. This is 40 million pounds higher than that of Manchester City, who are currently second on the list.
The club’s statements which ended June 2010 revealed Chelsea’s financial position and there is a momentous increase in the wage bills of the club. In the year 2009, the club spent a total of 165.6 million pounds on wages of its employees, but these figures
included the compensation given to Luiz Felipe Scolari and his assistant following their sacking. Ignoring the pay-offs, the wages have risen by 19.5 million pounds, which shows a 12.7 per cent increase in the expenditure.
Manchester City pay 133.3 million pounds as wages, Manchester United 131.7 million pounds and Arsenal 110 million pounds every year to their employees, as stated by their accounts. Chelsea pay 82 per cent of their total turnover in wages, which is less than
City’s 106 per cent, however, Manchester United pay only 46 per cent and Arsenal 49 per cent of their turnover in wages.
The accounts also revealed Chelsea’s losses of 70.9 million pounds- a significant increase to their 44.4-million-pound losses in the previous year. The club now aims to cut down on their losses by 50 per cent in the next fiscal year. There is more trouble
for http://www.senore.com/Football-soccer/Chelsea-c38786, as the club may have to pay tax worth up to 3.8 million pounds, should HM Revenue and Customs win their legal case over image rights payment. The state argues that image rights should be included in the taxable income and should they succeed,
the players would be liable for taxes individually.
Despite winning the domestic double in the 2009-10 season, these are some shocking results for a club owned by a billionaire, Roman Abramovich. With the inclusion of http://www.senore.com/Football-soccer/David-Luiz-c10542, the wage bill is expected to rise further and that would
take the wage percentage over turnover to 90 per cent. Chelsea let go the likes of http://www.senore.com/Football-soccer/Deco-c10735 in the summer, but still have to pay most of their income into wages.
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