The English football Premier League is enjoying halcyon days, with four English teams having contested the European Champions League (Liverpool vs Tottenham) on Saturday and the Europa Cup (Arsenal vs Chelsea) three days earlier.

Six of the richest 10 clubs in the world are English, and Premier League teams are estimated to spend 80% more than their competitors across Europe for equivalent talent. Liverpool, for example, splashed out £300m on transfers and players’ salaries this season...

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