Quote Originally Posted by cardiff55 View Post
Very thorough report from Keith. Not as bad as I thought, I suppose the transfer money came from Manga, Zohore and Decordova-Reid, which was about £21.5 m in my estimation.

Thanks Goodness it is a year until he next set of accounts!
I am always hopeless at remembering which players we sold when but the reported profit on sale of players of £13.7m would have been from the July 2019 and January 2020 transfer windows , so who did we sell then?

The cash from player sales follows a different pattern as these things are often in instalments. So for year 2019/20 we only received £2.3m in cash from player sales (paid out £24.7m in cash in the same period).

Partly because of the £11m adjustment I mention in my commentary , I don`t think 2020/21 results will be as bad in profit and loss terms as might otherwise be expected. However, in cash terms there will undoubtedly have been a need to borrow money to pay month to month wages and other running costs prior to receiving parachute monies. Note 29 in the 2020 accounts support this as it says that £34.8m of funding was received between May 2020 and April 2021.

In terms of being "profitability and sustainability" compliant under EFL rules , we should be OK as for both 2020 and 2021 as the EFL has allowed a Covid adjustment to reported losses as well as the normal £13m average "allowed" loss. This adjustment has to be audited before submission to EFL.