Peterborough United published its accounts yesterday with more detail than is customary for clubs at our level.
In 2018-19 they made a massive operating loss of over £5.5 million on a turnover of £6.5m (much lower turnover plus increased wages). This was mostly offset by their huge profit of £4.4m on player transfers (mostly Jack Marriott and Gwion Edwards the latter of which who was so unimpressive last Sunday for Ipswich)
Still lost over £1m, though, despite that.
Wage bill at Peterborough is £5.3m (82% of turnover)
Obviously they still have some very saleable players indeed, but despite the success of this model they have still lost £4.4m in the last five years.
The club owes £1m in bank loans and almost £7m to the owner(s)