I think your figures are optimistic given the ongoing discussion about tv money and any future auctions.We certainly don’t need to sell. I have calculated that total revenue (PL and parachute monies plus Matchday, Sponsorship and broadcasting revenue from EFL) across the 5 year period (20-25) is likely to be in the region of £425-£450M. If you consider operating costs (reducing in line with relegation) exceptional costs such as (ground infrastructure £43.5M, COVID c£20M) then surpluses are significant. PL income less lowest wages = significant profit. Jim Phipps saying otherwise is disingenuous to the fans
There may also be changes to parachute payments