It really doesn’t work out that way - selling £200m doesn’t mean we’ll have £200m to spend (unless all home grown) and buying £200m doesn’t mean that it falls in one years books. (Salaries do, obviously)
There's two aspects.
Psr restraint over 3 years
Real money in the real world affordability.
We can balance this big season with another of zero spend next season for example.
If you look at selling doak we bought for 500k.theres years of amortisation on thst. If we make 30 on him it's pure profit this season.
Same for Elliott at 4.5mil fee years ago which should be amortised. Pure profit.
There's 3 years of nunez fee amortised at least? That is leaving 20? On the books so you see a book profit of 30 but a real world 50mil cash pile.
The question over time to be asked is what is the annual amortisation bill over 5 years. The figure has been steadily increasing over the past years and sits now at about 114 million.
These things are impacted by contract extensions (the remaining player book value is spend out of Liverpool the new term) signings and players leaving
The real question is not will we meet psr but can we write down that higher amortisation number over time from revenues.
We can assume two things
A) we can afford the fees by selling
B) we will meet psr requirements
What we don't know is how we can keep affording this increase over time.
An example of this is say konate.
35mil fee is around right but convenient for me.
Year 1,2,3 and 4 amortisation 7mil leaves 7mil this season.
We give him a new 5 year deal.
The number drops from 7 next year down to 1.4 but we add 1.4 per year for 4 more years which is great value for a good player rather than paying for a new one.
I'd be looking to what can reduce the amortisation bill by selling off nunez and Diaz types as well as move hg.
Hg is a single year profit. It is only helping Chelsea in the very short term and they eventually going to run it into the groudnas the assets run out.
In the real world we can sell to buy.
In the psr world we need revenues to cover the bill over 5 years.