It'll hit them hard with FFP. Writing off his contract will mean 60m amortization cost + 60m in unpaid wages = 120m. They're better off loaning him to whoever's interested or keeping him and hope the new managers can turn things around with Lukaku. They do need a clinical finisher and who better than to score that 96th min goal when the team needs it most if not Romelu Lukaku? ....right?
It's very possible that most or all of Lukaku's remaining amortisation was already written off in the last financial year though. On the last set of accounts the club willfully booked an extra £76.7M loss for "impairments on player registrations within the period" which basically translates to the club having downsized remaining yearly book costs for the future seasons by taking a massive one-off hit on the 2021/22 financial year.
The financial statement of course didn't specify which players' values were affected by that manouver because individual player values are never disclosed on the public documents but funnily enough that £76.7M figure would equal Lukaku's remaining book value in the summer of 2022 almost down to a pound.
My educated guess would be that Lukaku's value got more or less written off so either the club already took the full hit on Lukaku's fee on last year's accounts or some of his remaining amortisation was left untouched and the rest of the 'impairing' partly wrote down the values of some other players as well to add up to the £76.7M overall.
That still doesn't take care of Lukaku's elephant sized salary that we're still on the hook another three years for, but having his remaining book value closing in on zero and the salary being the only obstacle to overcome would already help massively in the club's efforts to offload him.