milo
Jack L. Jones
There are two very serious shortcomings with your analysis.
1. The significant majority of that income came from two sales, Modric and Bale. As discussed above these have been the only examples of success rather than the norm.
2. I am not sure how you saw these signings at the time but out of every signing we have made since 2004, these two were some of the most promising, i.e. certainly in my top 5. They were at the front of the distribution when they signed on potential and price and they stayed there. There were 30-40 players closer to the mean who were cheaper had less to no potential and more closely represent this summer's signings. A more typical set of examples for the policy would be Holtby, sandro, dos Santos, edman, pav, or mido.
You would do better to perform the analysis again without bale and modric included as they were clearly atypical and not representative of the rest.
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The problem is that your reading of it needs to discount some players to make it work. Mine doesn't.