We're talking about the post-Invincibles era, of course.
I used to be very much in the 'sustainable' camp when it appeared, for a time, that we were capable of winning trophies without excessive spending. It seemed noble to be plucking youngsters from obscurity, training them with care, and exuberantly daring to release those with promise to valiant deeds on the pitch.
From the outside, as a fan, it was hard to realise that these young players coming through felt little more loyalty to the club than a typical worker to their employer, and would leave for better deals elsewhere as their horizons widened.
Looking at us now, in the wake of Kroenke's takeover, I see an organisation that is motivated primarily by maximising shareholder value, and only secondarily by football as a means to that first, foremost end.
Perhaps we are waiting for FFP and for improved commercial deals which will strengthen our position, but we are waiting for them because they will boost the value of the club.
Football second. The situation's sad, a sadness alleviated only by the possibility that the club will eventually need to play better football to hold its value.
Think about that for a moment before you accuse any other club of lacking a soul. At least Chelsea and City's owners, vile as they are, ego-driven as they are, are spending to win without a thought of the losses incurred.
