Old PSR vs the new squad-cost view
Old PSR looked back over three years of losses. The live 2026/27 question is more direct: how much football income is being spent on the squad?
Historic loss-based view.
Costs compared with football income.
European rules can be stricter.
The quick read
Old PSR was mainly about losses across a three-year window. Owner funding could support certain losses, and the closeout still matters for historic assessment.
The live squad-cost view is different. It asks how much of a club's football income is being used on the squad.
Why this is easier to track live
Transfers change squad costs immediately. A signing adds annual transfer-fee cost and wages. A sale can remove wages and create accounting profit.
That makes the squad-cost view better for a transfer-window dashboard than waiting for accounts that arrive much later.
UEFA is separate
Clubs in Europe may also face UEFA rules. Those can be tighter than the domestic view, so PSRwatch shows UEFA rules separately where relevant.
What this means
The cleanest public question is not "what is the full accounting model?" It is: how much room does the club have before the limit?