There is no warchest. There won’t be one without numerous big sales. I don’t get how JL wasn’t/isn’t aware of this.
As much as we like to criticise Shi about the FFP line, there is truth in it. We may have the wiggle room this year, but then what happens next year? We have to sell a player or two for decent money to put our head above the water again. And we don’t really have much ability to do that because our player trading has been so bad for so long. Majority of our players are worth less than we paid or just not very good.
Our wage bill is also much bigger now as 1) more players as DW mentions, 2) we’ve signed a load of expensive tat 3) some of our cheaper “gems” have now renegotiated terms (Kilman, Neto,).
So we’ve spent loads of money, have a bigger wage bill (less profit for player trading), but other than having a large squad of mediocrity we are worse off than we were in 2019.
Surely a quick conversation which involves looking at a spreadsheet shows JL what the situation is in black and white. If he didn’t know that before taking the job then how? If you aren’t happy to work in this way and rebuild the shit transfer strategy over the previous 3 years then just leave. But it shouldn’t really be a surprise to him.