I've slagged off the SPL for spinning the truth before, and I'll quite happily do it again - note that this record profit includes the combined transfer fees for Craig Gordon and Alan Hutton from a couple of seasons back, plus St. Mirren's sale of their Love Street ground to Tesco. Heck, according to this BBC article, the combination of these three events is 27 million quid, which means that, taking those away, the SPL actually made a loss. Consider that these figures were during a season with a half decent TV deal, and that there will not be many seasons in the near future where one player is sold for so much money (let alone two), it all looks dodgier than an MP's expenses claim.
Compare with today's Times, which suggests that the Setanta money made up possibly up to a third of, for example, St. Mirren's annual income, and, well, I wouldn't like to be a beancounter at one of these clubs. (Trust me, today's paper does say that, but I can't find a link online to the story!)
At least Caley are well out of it, and with no TV cash at all, are not going to budget for cash that might or might not be there.
The more you read, the more you think that one or two SPL clubs are going to end up back down the administration road sooner or later. It's not very rosy at all.
L.
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