Cardiff City made a loss of £1.05m for the year up to 31 May, 2008, according to their latest accounts despite last season's Wembley exploits, £5.5M in transfer income and turnover increasing by 20% in £12.7M.Another mitigating factor was Peter Ridsdale reducing his own "pay" from £1M in the previous year to £325k to the year ending May'08 but eyebrows will be raised at wages apparently exceeding turnover at £13M. As others have observed, it hardly sounds like a club operating on the shoestring budget and with the prudence they like to tell us about.
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