The Premier League, like every other European soccer league, is marked by a huge gulf between its haves and have-nots. Now a second gulf is developing at the top of the league, between the rich and the uber-rich, and the ensuing arms race is nothing short of astonishing.
At the top, three clubs — Manchester United, Chelsea, and Manchester City — dwarf even the outlandish spending of the rest of the Premier League. It's easy to explain how Chelsea and Manchester City climbed into the financial stratosphere. Chelsea was bought by Russian oil billionaire Roman Abramovich. Manchester City, similarly, was purchased by the Abu Dhabi royal family. It gave the two clubs unlimited spending power to reach the top of England.
Manchester United is a different story. Though it's long been reviled, the club's rise to financial dominance is the model.
United, always one of England's biggest clubs, benefited from several things in the 1990s. Sir Alex Ferguson, perhaps England's best-ever manager, developed a talented group of young players at the club, led by David Beckham. This period of success coincided with the beginning of the Premier League, a creation that saw Manchester United dominate the league just as it became the world's richest, and most prominent, soccer competition.
The result is that Manchester United is now regularly described as a "global brand," and huge sponsors are willing to pay extra to be associated with the club. Combine this with the team's share of the league's TV contract, and the match-day revenue from England's largest club soccer stadium, and United has a home-grown financial advantage.
The rest of the rich clubs are scrambling to catch up.
Arsenal, once Manchester United's sole rival at the top of the league, went into penny-pinching mode to pay for a new stadium just as Chelsea and Manchester City came to prominence — in some ways, the opposite of United's fortuitous timing. Tottenham Hotspur is rebuilding its own stadium, part of the reason the club hasn't spent a dime this summer to add to its up-and-coming squad.
Everton has been working on a new stadium plan for more than a decade, and has a new owner with deep pockets. Liverpool just finished a stadium expansion, and is doing its best to spend money on new players as well.