Is it limited now, though? Or has ENIC put us now in an even better position than we think we are? FFP, toothless and bypassable as it was, mandated that a club not spend more than it earns. "Earns" is not a rich owner pumping unlimited cash into the club. It's the revenue a club generates. And with the new rules taking effect this summer, it will become even more important because spend on the squad (wages + transfers) will be limited to 70% of revenue. The only way to spend more will be to increase revenue and ENIC has been masterful in that area. These silly F1 Kart deals all count towards revenue. Appointing this Munn guy is also geared towards revenue expansion. And the fact that we have kept our wages-to-turnover ratio low gives us more wiggle room to increase our spending than any other club. Chelsea, Arsenal, and even Saudi Sportswashing Machine and Brighton, who are currently past that threshold will need to cut back, if they can't increase their revenues.
Technically, the only thing a rich owner would do would be to pay the infrastructure financing costs out of his own pocket, but we still won't be able to go over 70% of our turnover on wages and transfers. So as long as the remaining 30% covers all other expenses, it really doesn't matter if the financing costs are paid out of revenues or out of the owners' pockets. Which means it doesn't matter how deep the owners' pockets are, but it does matter how good the owner is at growing revenue. If there's someone better than ENIC at that, that's the one I would want. But I don't think there are many. Bottom line, I think we're fine with the current ownership in this regard. Now if they get their act together and set up a proper football structure, then we'll be cooking.
