Burnwinter strongly disagree with this. A team that just spent 1.2Bn pounds in the last 2 years on players, somehow has 300m pounds in cap space, while it's rivals have a quarter of that.
If I read that as an Arsenal executive, then the motivation would be to follow suit with accounting magic like selling our very succesful women's team to KSE. we can even quote a valuation 3-4x what Chelsea said baed on how many more fans we attract than any other women's team. We can then similarly sell the Emirates, and sign these 10 year contracts with players.
Once all that is done, we can then maybe get really crative and run some player or other recurring expenses through an affiliated entity like KSE, giving us even more cap space. Or increase the revenue by then generating revenues from providing services to KSE which now owns our womens team, stadium and contracts.
At some point, it looks like Enron accounting, and you end up without terra firma for enabling financial fair play