You're only looking at one aspect of FFP, the Squad Cost rule, (90% of revenue can be spent on the squad this year reducing to 80% and then 70% the next two years). That's only part of it, and probably not one we will need to worry too much about.
But the issue is with the Football Earnings rule. Clubs can not operate at a loss of more than 60m, and owners can not invest more than that. They can't just put a few hundred million in the bank and be able to buy players with that.
I agree with how much Henderson, Elanga, and Scott would add to the transfer funds, but that's kind of my point, it isn't a lot. We would be fortunate if that even allows us to break even on the profit/loss.
There is no way we have 400-500m to legally spend in the first year (two windows). And likely not in the first two years, unless we get some major commercial revenue or sell Rashford for 200m+. And remember, entities tied to the owners can only account for a certain amount of sponsorships, and must be at fair market value. So they can't just drop a 200m/year shirt sponsor deal from Qatar Airways or Ineos.
Many people said the same about Todd Boehly then he found a UEFA ‘loophole’ which enabled him to spend nearly £600m in two windows by using 7 year contracts to amortise the costs, you realise the club conveniently hasn’t announced it’s new short sponsor and conveniently pulled the plug on Saudi being potential Sponsors, you use the word ‘legally’ and clearly you did not see Gary Neville interview with Uefa President, Cerefin who didn’t hide his hatred for the Liverpool and Current united owners, enfact he was so grateful to the German and more importantly PSG Qatari owners for not backing The Super League he promoted Khalifi to a new exec role on Uefa Board, alongside David Gill.
When Gary asked him about a level playing field with spend, he laughed and said the big clubs will always spend more than the others!
When Gary said “Are you worried about the strength of the PL and their spending power?”
He answered ; “The other leagues and teams must improve and get better!”
My point is it won’t be that difficult to give the club a ridiculous Qatari shirt sponsorship over 10 years for £1.5bn at £150m per year and whose going to contest it, United having this new investment is more credible to 99% of the world of football than city getting a fake £125m for shirt, sleeve, Etc.
Everything the Middle East owners do will be ‘legal’ because as City have proven and will continue to prove, by paying for the best lawyers everything is legal.
I also doubt that if next years accounts show such a huge loss, many of the bidders would not be increasing their bid for the club, having seen the accounts if they knew that they could not spend £200-250m this summer on new transfers.
The Debt is instantly wiped off and the ‘Ebitda’ position changes plus losing Ronaldo wages of £15m for 6 months would have helped and so would have the Glaziers not taking dividends in this year’s accounts. Everything is being pushed to make the sale attractive now, why in earth would you increase your bid from £4.5bn to £5.5bn after having your ‘best in class’ bankers looking through and number crunching accounts , if when you have all the numbers you then decide to buy the club, knowing you can not buy any new players !
Not Even Qatari would want a vanity purchase like that where no new players could be added to the squad but you bought the name and the brand just to say look at me ; “I’m the owner of Man United”