The loss in the last accounts was solely down to the interest payments coming out. Having that amount of interest to pay was unsustainable for the club, let alone then trying to pay off the principle.
Currently, the only debt on the club is the one used for stadium development and day-to-day expenses rather than the full weight of the massive purchase debt plus the additional refinancing from further up H&Gs ponzi scheme and the banks.
Best way I can think to draw a comparison is someone finally having cleared the massive loan they took out to buy a car. Once they've done it, that money then becomes available for them to spend on jelly babies or whatever every month.
The full accounts are releaseed every year from Company House and cost a pound for you to access per company. They are one year out of date, although contain information which is applicable closer to the time. What I've done is accounted for the known expenses and increases in revenue the club has had since the last accounts. It comes to around £70m a season. You could argue that there will be additional costs - I haven't taken off the cost of, say, Carra's new contract which may well be an additional £1m a season, but I'll be in the right ballpark. It's why the whole league should be very, very worried if the Mancs ever get rid of the Glazers and when the Arsenal finally finish paying off their stadium debt - the new financial rules will mean that those two clubs will be at a massive financial advantage. Almost uncatchable. It's why the Spuds want the Olympic Stadium at a bargain price rather than putting themselves in debt to buy their own stadium. It's why stadium expansion is being discussed at Liverpool. It's why Chelsea are up **** creek without continuing and sustained success on all fronts. It's why City's owners have been spending money like water over the past couple of seasons before the rules kick in. And it's why Lerner at Villa has given up trying to compete.