It may not make money every year but assuming you can bring one player into the first team every other year or so, and sell the odd one on, I'm sure it more than breaks even over a 3-5 year cycle.
It is subsidised , one of the reasons FL status is so important as the money stops, after a parachute payment I think, on relegation.
Phil wouldn't have one if it didn't turn a small profit or deliver a net saving for the squad.
Edit: there is a decent section with Ainsworth in 'Living on the volcano' which Deltic recommended, currently mid-way through but a good insight into the challenges of management.
That said Ainsworth must have quite a small selection of interesting anecdotes because two from the book are in the article. Maybe he's just a dull bastard.
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