Don't quite understand how this is more permissive?

Previously you could lose £39m over three seasons (£13m a season but didn't have to be evenly spread), now £10m equity a year can count as income (so a loss of £25.5m a year - roughly 35% reduction?).

I think you already could exclude stadium investment, youth and women's teams from the losses so this is only more permissive if people are spending £5.5m on non playing costs which clearly no one in championship is. The previous lumpiness also allowed people to turbocharger it).

What am I missing?

Posted By: Kangol Canary, May 15, 17:22:26