Totally agree. That coupled with the fact that despite all those revenues - 13 of the clubs actually LOST money. It's untenable, surely, and it's only a matter of time til something big happens (like 3/4 teams collapsing in the same season, for example).
The biggest issue is wage inflation. Because clubs are allowed to lose £150m a year due to sovereign wealth, it means that wages are not tied to income. This then permeates the other clubs, and they end up having to pay more than they can afford for medium to low talent players. And they take a few risks on a few names - then it doesn't work out - and suddenly they're losing £10m a season, have no assets worth that anymore and don't have a sugar daddy to help them out. It's tragic that even a club like Everton aren't cash positive. Good stadium - great fans, great manager, history of shrewd buys...but even that's not enough.
The biggest issue is wage inflation. Because clubs are allowed to lose £150m a year due to sovereign wealth, it means that wages are not tied to income. This then permeates the other clubs, and they end up having to pay more than they can afford for medium to low talent players. And they take a few risks on a few names - then it doesn't work out - and suddenly they're losing £10m a season, have no assets worth that anymore and don't have a sugar daddy to help them out. It's tragic that even a club like Everton aren't cash positive. Good stadium - great fans, great manager, history of shrewd buys...but even that's not enough.