I am not buying this. They must have failed PL FFP, their financials were dreadful, but they were in the twilight zone between the 15 million lower limit (or the 45 million limit if 30 million was injected as equity, which I don't think happened) and the 105 million upper limit.
If that was the case, they must have been subject to the extra procedures set out in E52 (and possibly E17) of the PL rule book:
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What I want to know is why the Pl doesn't detail which clubs are being monitored under rule E52? Surely that's important information for the fans to know? UEFA discloses which clubs are being actively monitored for their FFP position.
More secrecy as suits at the PL.