Capology might be looking at total gross wages of the squad, but I'd guess Deloitte's figure includes amortisation
That would be odd, why include amortisation in a wage to revenue ratio? That wouldn't make sense. Also, from their numbers of other clubs like City (57% wage to revenue ratio) & Arsenal (58%), it seems like they aren't including amortisation.
The only thing I can think of is that Deloitte is including wages of the entire club as an organisation, but the difference cannot be that large. The main squad's gross wage has to be a vast majority of our total wage bill.
I just checked swiss rambles numbers which seem to match Deloitte, see below:
So on top of the 101m player amortisation, we have:
- Wage bill of €248m, so around €120m "black hole" above the capology gross wages of the squad
- Plus another 101m "Other expenses"
Whats with these black holes in our costs everytime!!