But the money they have is ridiculous.

And Increase Tax Credits. This is the American Way

Your EBITA is missing a letter for Depreciation ;)

How about billionaire dick-measuring hobbies

American owners can’t compete with the oil states when it comes to buying clubs

Because billionaires like to offset their income with a loss while getting all the benefits of owning a sports team.

A split of squad and non squad costs would be very interesting

The primary problem with the ESL was the lack of relegation for the founding clubs. PL is proving this season just how competitive it is and, of course, still sits within a traditional tiered structure with other divisions and European competitions.

A closed league absolutely would NOT have succeeded. European fans hate the concept of removing any penalty for poor performance and would have revolting just as much. If losing means nothing then winning also means nothing.

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Looks like it's time to activate... some levers!

PL is a super league by this point

But not any cuts to the employee benefits for the Board of Directors. This is also the American way.

It probably would have succeeded had it been a closed league or kept relegation, but they made it the worst of both worlds

They already tried to introduce a "European Super League" with no relegation that failed due to fan revolts

Because owning a football club shouldn't be about profit above all else. It should be about sustainable sporting success

It’s only a matter of time before a bunch of American investors buy the rest of the Premier League teams and introduce a salary cap and ads during the game.

they're trying to sell the club currently

*Glazers frantically scribbling notes*

I expected more merchandise revenue

Think they can flip a switch to make it easily profitable. Not buying 1-2 players and not offering as high of wages relative to other clubs.

It’s pretty much like an over-valued tech company - high potential and big brand name.

But also hear owners get extremely favorable tax benefits from being owners in a large depreciating asset.

Probably more recent data at UN's Office of Disarmament - https://milex.un-arm.org/

It has all jumped up since 2019. They have data from the 80's and defense budgets never seem to go down.

Isn’t a large amount of the military expenditure just like… educating, housing and feeding people?

The solution is obvious. Increase merchandise and make substantial cuts to employee benefits. This is the way. The American way.

> they make their money on the sale of the franchise.

What does this mean? Are they planning to sell the business someday, and they will make their money back when they do so?

If the business is a net loss except when you sell it to someone else, why is anyone willing to buy it? EDIT: I guess people were willing to buy NFTs.