The accounts published don’t have to be as accurate and aren’t regulated heavily like public company filings, so I can’t say with this lot running things I believe them to be the clearest, it’s entirely possible Ashley has been siphoning more out the club and labeling it as something else.
You can feel free to trust what the club are saying if you want tbh. If you’re happy to accept a PL club in 2019 can afford nothing more than around £20m in transfer fees yearly (since the other £30m they’re quoting will go to wages spread over the next half decade) again that’s totally up to you. As mentioned in the past they always mention wages having to be factored in when buying, yet the remaining wages on a contract of a player sold are never brought up. We’ve never been big spenders under Ashley, even when we finished 5th we didn’t spend, all of that has all been eaten up by two single season stints in the Championship?
It’s also worth noting that for his entire 10 year ownership he has asset stripped the club to such a degree it barely owns anything outside of playing staff, as Trooper points out we’ve lost a lot of money in commercial deals. All of that goes into why I am not accepting them saying all we can afford is £50m a season (inclusive of wages, fees and other expenses) I can’t factor these issues out as they are exactly to blame for all of it so why should I have to exclude that from what I think should be available for Rafa to spend? It can be rectified going forward but it won’t be. We are going to lose Rafa Benitez over honesty over transfer fees and a moderate amount of investment in the training facilities, it’s absolutely absurd.
I’ll also add that the wage aspect is being double counted in their bullshit model. The money available that they’re claiming comes as a result of the accounts, which factor in wage expense, they then include these future wages back into the £50m budget, and they will be again included when computing the next amount available.