The Light Was Yellow Sir
Well-Known Member
Bizarrely that seems to be the preferred ’English Model’……..It can't because it's backwards looking.
A club is profitable and someone buys it. In their first year of ownership they overspend and take out cash so it breaks even. The second year they absolutely run it into the ground and it makes a loss.
But as long as the 3 year aggregate figure is within limits, it's OK under FFP. A few weeks later it can't pay its tax & NI and HMRC take action, put it into administration and it folds.