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The club can lose £105m over three years...and made a profit of £12m in 2018. Having said that Sir Tone has underwritten more than enough losses whilst in the Championship so should not be expected to repeat the generosity in the future.

There's not a lot of difference between the Albion and Watford, and I'd expect that gap to narrow in 2018/19. One issue that is different is that of player sales. The other clubs in the list have had substantial sales in recent years, unlike the Albion, and these can be used to contribute...