The report does caveat that the L1 turnover to wage ratio has exceeded 100% for the first time because Sunderland's revenue was "significantly reduced" by the loss of parachute payments and wages bills being inflated by "several other ‘big clubs’ vying for promotion including Charlton Athletic, Hull City and Ipswich Town".
It reports that the lowest wages/revenue ratios were for Huddersfield Town (55%), Cardiff City (61%) and ultimately relegated Rotherham United (69%).
The worst offenders were Brentford (wages £41m/ ratio 258%), Reading (£34m/214%), Birmingham City (£32m/211%) and Sheffield Wednesday (£24m/209%).