My confusion is always what is football finance and what is stadium finance knowing that the 2 things are mutually exclusive per our chairman. As an example, are all of the NFL revenues for the next 10 years and naming rights being tagged as "stadium revenue" and go towards paying for the stadium? Are the match day and TV revenues being tagged as "football" revenues and recycle back into salaries and transfer fees? Where does that leave our increased sponsor revenues? "Football" or "Stadium"? Same think with expenses. Was the rent of Wembley tagged as a "Stadium" expense or factored into the running cost on the football side. This is why Levy making stupid comments that the stadium and football
What I would expect is that CL revenues are counted as "upside". Levy doesn't count on them looking forward as they aren't guaranteed beyond what is immediately visible, even beyond the league stage. Even then Ex has mentioned that some of the increased income go to players as bonuses which makes sense.
£30m net spending in 5 years is mostly measurable with a few "undisclosed" deals thrown in. This summer, I'm expecting all the transfer fees for outgoing players to be recycled into transfer kitty. Above that, I think there'll be net spending but wouldn't count on any more than £30- 50m like we saw when we bought Sanchez.
I don't see floodgates though.