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To Csb74's last 5 rumour replies
17 Aug 2020 10:54:47
I must admit Ed it isn’t my understanding of the situation. Wolves have broken ffp rules but only with European competition it does not affect the what we do in the premier league. We are allowed to make 30% loss under premier league and 27% within Europe. We haven’t broken the 30% so no restriction within premier league. The losses are taken because of 3 years accounts 2 were championship years. Next year only 1 championship and 2 premier. Our turnover has gone up expedentially of the past 2 seasons. Our first season in prem we made a 20 odd million profit. According to Tim spiers we are on to make similar profit for 19/ 20 season. So approx 50 million profit. This almost wipes out the 60 million loss from promotion year. If we had qualified for next season and not this we wouldn’t have broken rules. If we qualify next season for the season after we will be ok. We have this seasons accounts to break even this includes next seasons accounts. So we need to make a 5-10 million profit to comply. Fosun have stated because of this we do not need to sell and it does not change our transfer plans at all. If we sell it will be because we want not because we have to.
{Ed002's Note - The spending restrictions cover the PL as well. The reduction on squad size applies only in Europe. The Premier League may yet go after Wolves. The punishment does not mean that Wolves can keep spending money they don't have. The club will make losses for 19/20 and not a £50M profit. The break even and compliance needs to be done by 2022. Nobody has suggested that Wolves need to sell, they simply need to comply with FFP and work within their means.}