I'm told by people who understand their finance a lot more than I do, that though we generate a high level of revenue, we aren't cash rich. Far from it.
The stadium was a major overspend...some say by 200-300 mil easy. We owe a lot of money (min 250mil) in previous transfers cause that's the way we do things...nobody owes as much apparently. Sacking managers and putting people on gardening leave ain't helping either. Also, we missed out on a fair bit by finishing 17th in the PL and exiting the FA Cup early. And obviously we all know ENIC put chump change into the club (like 5 mil per year). The club ain't a profitable operation and cash flow is a serious issue.
Like I said, I'm no finance wizard myself, but when I hear that Levy is an elite businessman, it makes me laugh. First cause he doesn't understand that if we were a successful football club, the whole business side of things would do a lot better.