I think the article was about the CFG purchases, which tended to be actual fee paid transfers, so there was some trail to follow.It's a murky world. We do pay some big numbers and I'd guess most are not reported so impossible to say what the true profit would be.
That said most youth players are on very short contracts so the vast majority will be no fee or small fees / tribunal fees etc. And the rate at which we sell multi million pound youth players we must be comfortably in profit. Before you even think what a Phil Foden is worth.
One thing I've noticed is that everyone these days seems to get their comparisons from transfermarkt. However, they have a few rules which mean a lot of transfers don't appear in comparisons (even if they appear in our accounts, where it matters). We can buy a player for the main team, loan them out, and even if they never set foot in the country, their sale fee will count. However a player could be with the Academy from age 7 but be loaned out and then sold before making their City debut, and their sale fee won't count. A player can come from another Academy at age 16, get 5 minutes late on in a League Cup match, before being loaned and sold, and their transfer will count :/