One of the most successful clubs in France and regulars in European competition, Lyon face relegation to the Second Division due to debts of around £125million, a figure deemed unacceptable by the authorities.
Just as well for Manchester United such a rule does not exist in the Premier League. At the last count, the Red Devils’ total debt stood at more than £500m. In fact, last year, it was estimated total debt across England’s top flight had reached £3.6billion.
None of which matters when it comes to the Premier League’s own financial profit and sustainability rules (PSR), which do not take debt into account and are instead based around trading profit and loss, with revenues the most critical factor.
This is why United are free to buy Matheus Cunha for £62.5million, most probably Bryan Mbeumo for a similar fee and consider a move for Emi Martinez while Villa, who finished above them in the table for the past two seasons, are again scrabbling to remain on the right side of regulations which, more than ever before, seem designed to hinder any club with designs on challenging the elite.
In reality neither United’s model, with their huge debt, or Villa’s with large losses is the way you would usually run a business but football clubs aren’t typically run businesses.
It is United’s debt, mostly piled onto the club by the Glazer family, which poses the much larger threat than the ambition of Villa owners Nassef Sawiris and Wes Edens, who would be happy to underwrite an even bigger spend if they could.
Not for the first time, you wonder what exactly PSR rules are protecting against?
In such context, it should really be no surprise Villa are considering following Chelsea by selling a stake in their women’s team, possibly to a subsidiary company, in order to boost their income.
Many might not consider it in the spirit of the rules and they might well be right. But the fact the rules allow such manoeuvring is another reason they could do with being re-written.