In 2011, after Manchester City announced a £400 million sponsorship deal with Etihad Airways, the principal owner of Liverpool, John Henry tweeted, “How much was the losing bid?” The tension between the European clubs who have felt constrained by the limitations of being a normal – or close to normal – business and those who have access to unlimited funds was already apparent when Liverpool was sold to FSG in 2010 but, as it broke this week that they may be for sale, it is becoming the dominant story of football. “There are three clubs who can do what they…

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