June 30th is when the accounts for this year must be recorded, however those accounts are not relevant to UEFA squad ratio new 80% rule which will allow revenue generated all the way up until 31st December 2024.
There maybe genuine issues with revenue as there was no European Football Revenue from January 1st to May 31st however the Fa Cup win will help a little although we had less home games this season in both cups.
It’s no real shock that there is not much cash available, £120m was used from SJR investment to pay off some of £260m owed, assuming that’s the case that leaves £160m available however I doubt that all of that can be used.
Here’s the issues as I see it but I might be wrong?
1. The club made their mind up that they would sack ETH before the FA Cup Final, both Joel Glazer and SJR probably decided together at the Semi Final of the Fa cup after watching the Coventry game.
2. As soon as CL football could not be obtained, they started sounding out potential coaches.
3. Genuinely believe their shortlist was 4 coaches , McKenna, Tuchel, Pochetino and De Zerbi.
4. After the Fa Cup Win, especially the manner in which it happened, the pr machines for keeping ETH and sacking him ramped up.
5. Right now I think he has directors who support him( Joel Glazer, Avram Glazer, Jason Wilcox, Jean Claude Blanc)
Directors who do not support him (SJR, Sir David Brailsford, Roger Bell)
Directors who are not in current position and are ok either way (Omar Berada, Dan Ashworth)
6. Before they can calculate a true transfer Budget they need to consider all the financial implications of signing a new DOF, Technical Director and then a new coach and the pay off for ETH and his coaching team.
7. For Example De Zerbie mutual consent agreement still involves a £4-5m payment to Brighton add £2-3m for Wilcox and £7-8m for Ashworth plus £10m for ETH and all his coaches and this is potentially £25m which will effect PSR/FFP this summer as these are normally one off upfront payments and cash this summer is incredibly tight!
So yes potentially they might want to delay sacking him so it can go in next years annual filing report, however the more obvious answer is their is a genuine split between the decision makers and as much as Sir Jim thinks he’s the main man, so does Joel Glazer as well, he appointed the coach, he will argue that he’s won back to back trophies and his CV is as good if not better than all the current applicants with the exception of Tuchel who may be an adverse appointment to the growing group of talented youth players coming through.
What this delay proves and further delays already in potential new signings are that Avram and Joel still retain a lot more control than what’s being printed in the media?