It’s the huge sponsorship deals which distort FFP. It’s not even based on success any more, when was the last time Spurs won anything? But the media talk about Spurs a lot and so a company is happy to give them 10s of millions to put their name on their shirt. Meanwhile if you’re Leicester who actually won two pots recently, the best you can get on the open market will be some dodgy gambling company so you’re forced to try and take money from your owners through the back door, as we tried to do, as Newcastle will try to do. There’s no other way to bridge the gap.
United could have 10 years of utter failure yet they’ll still get bigger sponsor deals than any team outside the top 6 no matter what they do. This allows them to spend what they want whilst the rest are forced into selling their best players.
Thank god for financial regs though, saving clubs from themselves, who knows where Leicester would be now if their owners had been able to buy players last season.