Correct. In PSR terms we are currently ‘hampered’ by the big purchases (e.g Isak, Botman, etc) which were made within the last 3 years, the high wage players on the books who aren’t good enough and that we can’t sell and the (increasing but relatively) low club income (Ashley to blame).
I think the discrepancy from what Eales said this window would be like and the way it’s actually turning out is that he assumed we’d be able to easily clear out our deadwood, which has not been the case. Big mistake on his part tbf.