Exactly! Far from bankrupting us, we could spend another 39m a year more on wages, which would give us a wage to revenue ratio of 50%. That would be enough for 3x 250k/week players or 5x 150k/week players and we'd STILL have the lowest ratio of any of our rivals.
"Going in order of the revenues with which Deloitte ranked the nine British clubs in the world’s top 20, Manchester City spent 57 per cent of their £706.8m turnover on wages (£403.4m), and they might be seen as our standard bearer, pending the outcome of deeper enquiries.
Next up is Manchester United, who operated at 56 per cent (£364m on wages), pursued by Woolwich at 53 per cent (£320m) and Liverpool at 63 per cent (£380m). Then it was Spurs, followed by Chelsea (72 per cent, £331.7m), Newcastle (68 per cent, £213m), West Ham (58 per cent, £157m), and Aston Villa (96 per cent, £251m")."
Management - Levy / ENIC from a daily mail article.
We're at 42%. We could still comfortably be the most profitable team in the league and have a chance of competing. Wtf is stopping them? I seriously do not understand it. Surely it just makes sound business sense to spend just a little more, still spend FAR less than any rival and potentially earn loads more from CL and trophy winnings. I don't understand it. The only explanation is they're fine with staying in the PL and earning money from hosting rolling stones gigs and etc.
Totally agree and have posted several times about this in this thread. The only reason for this approach is to pay off debts as quickly as possible to make the club more valuable. We mustn't forget that in the last set of accounts the club reported that, despite profits from operations of ~£130M, overall we made a loss of ~£86M. We also have the largest debt of all PL clubs at ~£680M. (Chelsea had £1.3B of debt but Abramovich effectively waived it).