With FFP suspended are we able to spend big this summer?
Having had a quick look through the accounts it seems we had a cash balance of £11.9m at the end of June 2019. We spent £7.4m on transfers last summer and had £7.5m of transfer fees due within one year. Against this we received £46m from the sale of AWB.
If we assume an EBITDA profit of £8m (half of last year due to Covid) then we currently have £51m in the bank. Obviously some of that will go towards financing the academy but I would guess a lot of that won't be paid until completion next year. We owed another £9m in transfer fees due after more than one year but its unclear how much of that we need to pay this summer.
It appears to me we have £30-50m cash in the bank ready for transfers. Am I missing something?
Having had a quick look through the accounts it seems we had a cash balance of £11.9m at the end of June 2019. We spent £7.4m on transfers last summer and had £7.5m of transfer fees due within one year. Against this we received £46m from the sale of AWB.
If we assume an EBITDA profit of £8m (half of last year due to Covid) then we currently have £51m in the bank. Obviously some of that will go towards financing the academy but I would guess a lot of that won't be paid until completion next year. We owed another £9m in transfer fees due after more than one year but its unclear how much of that we need to pay this summer.
It appears to me we have £30-50m cash in the bank ready for transfers. Am I missing something?
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