So how do you control "provided the owner can afford it?"
What happens if they can't after appearing that they can?
And what then happens in cases like Chelsea where it is pretty clear the past owner and the new owner can afford it.
City is a similar case and then Newcastle?
Surely the rich get richer, win everything and take all the spoils. Great if you happen to support a club with those means, not so great if you get left behind.
There in lies the tricky bit that you would hope the league which earns billions of pounds and is a multibillion international industry would have the nous to sort out.
In very simplistic terms I would hope there would be a mechanism where an equivalent sum to any debt pile created by an owner could be held in escrow to ensure that debit is covered. In theory it might also dial back some of the spending too so where a clubs might be ‘comfortable’ dropping £500m to chase success, if they had to also tuck away another £500m, perhaps their true budget would be halved.
In terms of state owned clubs running away with things, ultimately City and NUFC in theory have unlimited funds, but the reality is they can only really hold 24 top players each, and of them some won’t be happy on the bench. Only have to look at that young lad who’s left city for Chelsea. Neither has stopped Arsenal being competitive lately either.
I also think I we weren’t trying to comply with P&S Mosh / Uzzy would have continued to plough money until they got it right to get some sort of success.