Clearly the accounts are going to be an issue, as they will for anyone who isn't essentially privately guaranteed, which they most certainly are not. That said, I was surprised to see the invest in Thiago's wages and Jota last summer, given there was no sense of clarity around the post covid environment, so whether they borrow at 0%, which many people would argue is a very very prudent tactic, or they can just about thread water as is, they don't seem to be drowning yet.  You mention a figure of losses of £100m, Im no expert in their finances, but I did read they expect a loss of income of circa £100m, that is very different to losses of £100, to the best of my knowledge they churned a decent profit in 2019 & 2018.
Regarding the January Transfer Window, I'm very very surprised they didnt move early for someone, they are playing Man United at the weekend with more than likely zero senior centre halves available, which just seems wreckless. Clearly it's a difficult market, where desperation will be exploited. Liverpool are desperate, but also seem stubborn. If they were to sign someone now, you are probably looking at a month before they can play as they would need to quarantine before training and then catch-up, learn the system and what not. My take is either they are writing off their title chances and banking on top 4, or there is positive news behind the scenes on Van dijk and/or Gomez, which seems farfetched, but not impossible.
Regarding Summer 2021, whether it be in regards to BMD, project restart of their football finances, my take is things are going to get worse before they get better. I believe the penny is starting to drop that there is a very slim chance of crowds in 2021 and at this stage you wouldnt be sure we will have stadium normality in 2022, if ever again (sigh). No doubt their squad is due a refresh and I am sure that was the plan for summer 2020 pre covid, but understandably that didnt happen.  My take would certainly be that they will certainly have at least one high profile departure, probably Salah, but I would also look at the finances of their Nike deal and suggest a flagship signing seems inevitable. I very very much doubt that would be M'bappe, but dont think it's of beyond the realms of possibility, especially when you seen Nike / L'Bron James and M'bappe launching a football boot & courtshoe partnership. Sancho or someone at that level seems far far more likely.
So a long reply summarised - bizarre decision not to buy a centre half now & they are taking a massive massive risk on missing out on top 4, there could be 6 teams about 70 and below 80 points come the end of the season
		
		
	 
No worries on the length it was an interesting read.
On the profits/losses, I think profits 100m down will be quite cautious actually. There will be implied assumptions of fans being back by the end of 2020 and spending on merch etc to hold up. I am guessing figures and we will have to see them, but I just don't think merch spending will be anything like pre covid levels for any team. As for losses they made a big profit in 18 when they sold Coutinho and got to the UC final. Repeated the long run in Europe in 19. A lot of that revenue down in 20. By 19 they had already lost most of the profit (40m ish from memory in 18) mainly down to wages. I don't know if it was all bonuses for winning the CL, or whether the contracts had an uplift (so winning the CL took the wage from say 200k-250k) or a bit of both, but the uplift was significant. Wages rose to around £330m with no major signings and in truth not an awful lot of new contracts being agreed. Given they won the league in 2020, I suspect there will be a similar uplift.Expect wages to be above 350, maybe pushing 400m.
So you then start throwing a big loss if income on top, and I think losses will be bigger. The only issue is it will be capped to May/June. Next years accounts will be worse. The elephant in the room is player trading, that is a bit more complex and they may have done things to help mitigate some of the losses.
As for spending, I was surprised they spent so much too. The dynamic you point out is right too, unless you have a philanthropic owner who will throw money at it, you will have real problems (if we didn't have Moshiri and/or others our situation would be fire). I was surprised they spent so much, even though most of their fans were somewhere between underwhelmed and approaching a Trump style mob wanting to lynch John Henry during the window.
A couple of thoughts on it for me- firstly the whole of football spent more than it should. I think there was an effort from agents, players, reps, chariman etc to try and present a brave face to a difficult situation, and try to prevent a market collapse. None of the results were released at that point and for obvious reasons, and dramatic contraction will have a variety of negative consequence for the football pyramid. To a degree Liverpool got caught up in that. 
The other point, is if you ask anyone connected to the club about the spending the answer is always the same- they are very very keen to point out they spread deals over the contract. I'm not sure there was much of a downpayment at all oh Thaigo (and would explain the endless wranglings). Likewise Jota's fee at 45m was very high, a price paid to cover probably for most of it being loaded over the 5 years.
The issue they have, is next summer they will have to pay for them again, at similar outlay to this summer, which was just about what they could do last summer.
As for borrowing, I mean maybe they can borrow, but I'll be amazed if they, or anyone can borrow at 0% commercially. The only club who did that were Spurs, there were a lot of stipulations to jump through, and it has to be paid back (to my knowledge) this year in full. If company were handing out 0% credit, why just through the hoops of the government? The whole world and his dog wants to borrow money currently, and there's obviously significant pressure on lenders to avoid being exposed. I doubt credit was available before the crash at less than 4-5% (it could be lower for infastructure as there's a tangible asset at the end and security at the start) but for day to day running, football is a big risk for lenders, even well run football clubs. It's not really my area, but I'd be very surprised if such a rate wasn't doubled. It could be any degree higher really, by 8-10% on borrowing would not seem unrealistic to me. I mean if you have supporting evidence for the 0% I'd be interested to see it!
My gut feeling is they are writing the season off. If VVD comes back early fine (when you look at Wesley with a similar injury and he's not kicked a ball 12 months on it makes it less likely). I don't know what Gomez has actually got, but if he loses pace mobility he's an issue too, so not sure it's about them comiong back. My sense is they will write this season off, hopeful they will still have enough to be in the CL. It looks likely they will.
Come the summer, their plan will be to sell Salah for big bucks and re-invest in younger players. I don't think they will get the hig bucks they think for Salah (it looks like RM have made Mbappe top target).
For all the negatives it implies, FSG are quite a smart group of traders, so it's not all bad. It's probably quite smart, as I think I said before, you let the dip ride out, move the team on and rebuild again. It will actually be quite smart busienss practice, but what will be difficult, is through the lens of football, it will look very different and the commentary around it would take a different context.
They are just my thoughts though. Maybe they go and and magically have loads of money between now and June and go and get a top CB in. They will need one. The likelihood is Gomez and VVD will not be the same players they were pre injury. He clearly doesn't rate any of the young lads. That leaves Matip, who is too injury prone to play.