Wait so despite only buying Cech and Elneny our profit was 2.9million (it's up until May so discount the summer spend). Is that due to past transfer fees being served or what?
Group profit before tax was £2.9 million (2015 - £18.2 million).
I mean it seems that way:
The liabilities for player acquisitions are in part payable in instalments and net transfer creditors amounted to £42.5 million (2015 – £65.6 million). Since the financial year end the club has invested in the acquisition of new players at a total transfer in cost of more than £90 million.
WTF, 90m for Cech and Elneny? Or debt from prior transfers?