Do you have the time to listen to me whine?

Here's what rich people do.

They turn up at a basket case. They save it by putting their money in. They take a calculated gamble on the medium-to-long term that they will get their money back.

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"Hello. This is 2010, and we're West Ham United."

Barring a spectacular meltdown, the money (more correctly, the loans) they put in is never lost. It pays them 4-6 per cent, per year interest.

Periodically they de-risk their loans by taking out payments to reduce the money they are owed.

Meanwhile, the asset they now own has increased in value, so they will get even more money back when they sell it.

The danger is that the main source of the income to the thing they own is dependent on it being in the Premier League. It is in their interest to invest enough to ensure that happens.

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"Ha ha, I love Rush Green!"

But getting their money out sometimes takes primacy over investment. At the end of the day, their money is too important to them to leave in the asset. They gamble that they have just invested enough to keep the gravy train going.

Ironically, where they end up in the League (except maybe in the top four), does not make a lot of difference to the financial position. 17th is good enough. They say that they want to be right at the top, but ultimately the business model says that 17th is good enough.

The man that has the most to lose by virtue of the greatest equity (ownership) is also in total charge of the player signings. He calculates what is the minimum that can be invested to get 17th+.

They know that they will never compete with those that have the money to spend on investment (and can take the burden of pumping in hundreds of millions), so ultimately and probably quite correctly they don't try.

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It's the two unfortunate players, depicted lowest with smudged faces, you have to feel for.

They instead look at Leicester City, and hope that maybe they will get lucky and defy the odds.

Meanwhile, the fans do not understand the business model. All they see is a lack of investment in the club and think that more cash should be splashed.

Look at the evidence of the signings. It isn't ever going to happen, to any great degree, under the current business model.

And that, my friends, is why ultimately you cannot rely on Karren Brady's letter. Karren is the enforcer of the business model; this is as good as it's going to get unless a once-in-a-50-year event like Leicester happens again.

The only way to get a different approach is to find someone else with a different business model.

These people are rare.

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Beware fake Santas

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