There is a lot of myths floating around about finances. I wouldn't listen to anything journalists write about money. They studied English not Accountancy.
As someone that works in Finance and understands it. We are still the 4th richest club in the world, and could easily go to 2nd with some on field success, ie going deep in the CL.
The trouble is the silly contracts some of the players are on making them unsellable. The finances will ease as more and more of them leave and their contracts expire.
There is plenty of wiggle room to bring in players. They just wont be all on 200-300k a week and cost £80m. Which is ok, because it isn't necessary. The club needs lots of solid players in the £20-40m bracket on say £75k to £100k a week. A couple of superstars will not fix this mess, it needs a complete overhaul.
The amount owed to other clubs for transfer fees is not all due in 1 year. Spending £150m net next summer could be a single hit as little as £30m if the payments are made over 5 years.
Its not great to have to service debt. But at the same time, it isn't crippling the club. Instead its the decades long bad recruitment and wage control.
£100m net spend every season is easily achievable with our revenue. Even with poor performance on the pitch only Real Madrid, City and PSG bring in more cash than us.
We get out of it by doing what INEOS are doing. Trim the fat out of operations, ie make the workforce leaner, and get rid of high earning, underperforming players. Unfortunately that is going to take 2 years to take effect. The underlying football club is very strong and easily the 2nd strongest financially in the premier league.
They arnt dire. It just needs some housekeeping to move out the deadwood.
Exactly.