Why is it so hard to fathom Dave? Every year for as long as I can remember we typically break even on operations. Sometimes we make a very small profit, other times we make a slightly larger loss. By and large though our typical operating income does little to provide any kind of transfer kitty.
You then subtract from that the £4-5 million we pay on our loan each year. That's a given. So right from the off, we're likely to be at least a few million in the red each year before playing trading is taken into account.
We've sold much more than we've bought this year in permanent transfer fees, that much appears clear. Subtract the 4-5 million from above from that figure.
We've also loaned in a lot of players, with each of those likely costing us a bit of money in loan fees that will need subtracting from the above. Does anyone have even the slightest idea how much we're paying for those loan players this year?
Do all of that and you'll have an approximation of how much money we have to spend. Forget increases in TV money, that will go entirely on players wages, just as it always does.
You've subtracted debt repayments twice above: once before player trading is taken into consideration, once after.
However, you have identified the salient point: we have been massively reliant on player trading to make up the shortfall of a club incapable of running a successful commercial operation and whose owners show no inclination to attract inward investment (either from large individual or institutional shareholders or through a share issue to get fans onboard). I see no reason whatsoever to cut them any slack over their 14 year inability to trade better than that.
As for extra tv money going straight to wages...you are wrong, completely wrong. I think you need to familiarise yourself with the changing environment, Bruce. We have seen a decline in wages last year at Everton; and the new guidelines clubs now operate on from UEFA and PL generated mean that wages will never again be allowed to become the whole cake in terms of revenue taken in.
The CEO has said openly the extra 25M tv revenue is there to do with what they please: buying of players, debt reduction, infrastructure...there's a mix they can choose at their own discretion each and every year now. You'll be told that money is there today and tomorrow (when it isn't spent...obviously).
There really is no excuse now, and the club wont pretend there is. They'll just work the friendly BK media to make sure everyone knows (by implication, of course!) that it's Martinez choosing not to spend now but be frugal and wait until the summer.....Ahhh, the summer...there's always the summer....there's always jam tomorrow.
Funny that.
