If the Phoenix weren't a for-profit entity then there wouldn't be shares to own/sell. That is different from actively looking to make a profit out of the club, but when it comes to the trust funding the legal status is important.
There isn't anything in today's article that clearly says "the Phoenix broke the rules" and indeed some of what was mentioned is pretty standard practice (whether that practice is acceptable to the general public is something else), but I want to know what all of that money was used for because they can't have spent $600,000 on those few guys doing some coaching while they were academy players.
If the Phoenix weren't a for-profit entity then there wouldn't be shares to own/sell. That is different from actively looking to make a profit out of the club, but when it comes to the trust funding the legal status is important.
There isn't anything in today's article that clearly says "the Phoenix broke the rules" and indeed some of what was mentioned is pretty standard practice (whether that practice is acceptable to the general public is something else), but I want to know what all of that money was used for because they can't have spent $600,000 on those few guys doing some coaching while they were academy players.