That's playing salaries at 30% of turnover. Plus backroom staff. Plus day-to-day running costs etc.

Leeds total wage bill - for 56 players, 71 admin staff and 110 matchday support staff - in the year to October 2015 was £4.7m, or approximately 34.5% of turnover. Up £650k on the previous year.

Even in a year where every possible amount of revenue was maximised (two final appearances, league leaders prize money) Leeds still only made £1.5m in pre-tax profits. The idea that all clubs can somehow afford to spend a lot more on salaries is a fallacy, unfortunately.

Couple of other interesting points to note from the accounts. Reference is made in the review part at the beginning to the South Stand being demolished at the end of the current season, reducing stadium capacity to approximately 13,000 for at least the early part of the 2017 season. Work to start on the North Stand once the South Stand rebuild has been completed. Obviously this is all contingent on planning permission being obtained by the appropriate time.

Also, the accounts confirm that the ultimate parent company of Leeds CF&AC (the Rhinos trading company) and Leeds Rugby Limited (the holding company) is Caddick Group plc. Caddick Group plc is in turn owned by the Paul Caddick Accumulation and Maintenance Settlement Trust. Do hope, given the current focus on tax avoidance, that isn't based offshore.

Remember backroom and admin staff is not indicative of a general club. We have all the costs of the union going through also don't forget.

For which they paid net about £550k in the year. The idea that Carnegie use the Rhinos resources for nothing isn't borne out by the notes to the accounts.

Leeds made a £1.5M profit, I am sure some legal accounting will have gone on here to keep profit down to minimise the tax paid. So Leeds could say double players wages and still break even.

Hey Mr Player we definitely can't afford to pay you your market value i only made 1.5m profit from your endeavours last year. We are all in this together here so me and all the other guys have decided none of us will be allowed to pay you your market value. Don't worry though I'm going to spend some of that money I save from not paying you your market value and as little of my own considerable personal wealth as I can get away with upgrading my multimillion pound asset so I can make more money

The market value of a player is what someone is prepared to pay for him.

HTH.

Indeed. And a salary cap stops a player seeking that value out. That's why it's called a salary cap. It caps salaries.

HTH.

Yet it won't have stopped the likes of Watkins, Hardaker and Ward getting improved money.

But not their market value and still less than they would be able earn if they were allowed to seek their market value from the guy who made 1.5m and far far more than they will from their endeavours last year.

You think Leeds should make no pre-tax profit but spend it all on players salaries?
I think you made a wrong turn, you should be on a football forum.

No. I think that if Leeds make a profit it shouldn't be on the back of forming a cartel to restrict the earnings of players.

It's not difficult to turn a profit by exploiting workers. Nor something you should be particularly proud of.

I'm more than comfortable with Leeds making a profit once a player is allowed to sell his skills for their open market value.

I agree with Smokey, although not sure if his argument his going too far or not. Is he asking for the cap to be abolished? that I dissagree with. Is he asking for the cap to be increased sufficiently? If so he is absolutely correct.

Out of curiosity, what purpose do you want the cap to serve?

I spent last week in India, your definition of exploiting workers and mine are very different.
Frankly the way some of the Leeds team have been playing I would be asking them to take a pay cut.

I think the cap should absolutely be abolished. It's a sledgehammer trying to smash a nut but repeatedly missing and hitting ourselves and those around us in the face.

There are restrictions on squad make up and building and other ways we can push clubs in to doing what we need them to do.