He'll lose them plenty of money when the sponsors jump ship.
This part is rather confusing. Commercial revenues have been flat for three years now - the noodle/tractor partners have dried up and our overall revenue growth is entirely predicated on the ever-increasing value of the TV deals. Another finish outside the top 4 this coming season will also wipe a third off the value of the Adidas deal, our highest commercial partner.
And yet, despite the squad not being fit for purpose, it's a relatively modest transfer spend again this summer. Club up for sale, maybe?