The 'Territory Crocodiles' will become the next team in the Australian Football Union and will commence playing games in the national competition from March 2023. Over the summer of 2022/2023, the new club signed a contract to obtain the best footballer in the country (Anthony Mosco) for a transfer fee of $10 million, for a 5-year deal that comes with various advertising contracts and sponsorships. The money was paid to Anthony's former club (Geewood United) in a lumpsum on January 1, 2023. Required: Apply the definition and recognition criteria for an asset and discuss whether the 'Territory Crocodiles' should recognise the payment of $10 million for the star footballer as an Asset