Quote Originally Posted by IndoMike View Post
Got it. Seems rather a lot of money. Without transfer income is it fair to say the club would not survive?
Yes, we are a lower league football club. Thatís how it works. Our business model is predicated on developing young players and selling them on - and we are very good at it.

Isnít this question rather like saying of a widget company, Ďwithout selling widgets is it fair to say the company would not survive?í. The difference of course is that we treat transfer income as windfall so it doesnít show as operating income. This is purely a semantic distinction though.