01 May 2024 13:05:09
So exactly where do owners make money when clubs are showing huge losses every year, .
Firstly losses can be useful to owners with other income streams offsetting possible tax liabilities.
Secondly the clubs are a great cash flow producer and expenses within the club can be easily clouded - just one example is that in Radz last year admin costs increased by over 70 million, the owners constantly have there hand in the cookie jar. It is legal and they own the business so nowt anyone can do about it.
01 May 2024 15:39:47
Owners taking money out means losses. Pay yourself a huge salary. Companies extract money out in fees and wages to make a loss. Loss naming businesses don't pay tax.
A well run business is one that pays its owners well and doesn't pay tax. sadly.