Because football finances aren’t as simple as having the net spend to spend. Before we start each season, we have: - a wage bill probably £5m greater than income (Could be worse) - operating expenses on top of £8-10m - an amortisation Bill (depreciation of player contracts over the contract length) of £10-11m So we start our recruitment with the following FFP position: £23m loss...of which we can probably offset £5m for academy etc....so £18m.  That’s £5m over the a