Nameless That’s what I was looking at.
We seem to be interpreting it differently in places !
Maybe but the ruling is probably purposely vague - the club will know what the limit is and if that is cumulative or per deal and also if player sales will make any difference. What that limit is won't of course be published.
Wouldn't surprise me if there is some form of agreement that says if we bring in X in fees we can spend say 40% of that on fees etc. So say we sell Puscas for 5m, but we only see 2m of that in 22/23 due to installments being paid later, then we can spend 800k on transfer/loan/compensation fees.