Nor does he mention the costs
not being incurred by playing in front of no fans, nor does he mention the increased TV revenue pot and the increased League solidarity payment coming from just being in League 1 as opposed to League 2, or what the wage budget this season is compared to last, or that most non-playing staff were furloughed and had their wages paid by the Government as opposed to the club for many months.
Look, its obvious we are going to lose a load of money, just as everyone is......but don't take figures in isolation, where there's a downside there's often an upside.