This month’s 25-year retrospective takes on the thorny issue of ownership at three contrasting clubs. Mike Ticher begins with Chelsea, unrecognisable from 1986 but difficult to love for very different reasons
In about 1996 I interviewed a pleasant man in a suit from Deloitte & Touche about its work on the finances of football clubs. He patiently took me through one of their early annual surveys, explaining why the industry was unsustainable. If clubs could not rein in players’ wages, there would be a disastrous crash within years.