It means, in a nut shell, that we/he can afford to buy pretty much anyone, (within reason), but cos we dont make that much actual money as a club, we cant afford to pay them very much. Relatively that is. The PL didnt want the huge TV cash to be used to mainly pay mega salaries, (haha), so despite having that wedge, we can "only" use £7m of that PA for increased wages. Profit from other stuff can be used, hence Stones going.
The profit from Stones freed that up a lot, but that profit can only be used for daft wages last summer, and this upcoming January.
...cheers. I remember you highlighting the Stones money would cover salary. This has to be problematic for us but I suppose there are ways around it (paying huge signing fees for example).