We are only a loss making company on paper, due to the depreciation on the stadium, a stadium we don’t start to pay off for another 20+ years (a stadium they revalued up by 500m last year, so the ongoing depreciation will be artificially even higher going forward, but that 500m upside just goes/went to shareholders equity rather than profit)
Yes we owe monies on transfers, but that is a short term cashflow issue, and any other club would just receive a short term influx (either from banks through loan or overdraft, or by a shareholder loan).
We have an enormous amount of PSR space, if we so desired to use it.
What will prevent us from doing anywhere near the amount of business we should is
a) willingness of owners to invest more than they need to. (You can guarantee Frank will have suggested he can compete well on all fronts with minimal investment on top of the players we had last season during interview, which will have been music to clubs ears)
B) we already have a bloated squad. Club won’t want to be paying monies to players that aren’t going to feature.
But don’t buy into the club spiel that it is cashflow due to owing significantly for previous transfers, as that is an easy fix.
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