Seal :| our facilities are hardly thread bare. And even if they were, what significant sum of cash have we spent on them?
Will take your point re: their stadium generates more revenue, but it's not that huge a difference - 6,000 extra seats @ £30 = £180,000. So a nominal impact on the overall figures - Their revenue for the 6 month period was £32m.
Training ground is just a bunch of portacabins stuck in the middle of a field that we don't even own, and the academy didn't achieve the crucial Cat 1 status. Significant money will need spending on both of those, and even if that money hasn't been spent yet, planning is underway therefore extra revenue from this season needs to be set aside to fund the inevitable investment.
£180,000 x 19 = £3.5m so still a fairly significant amount, but my point was more that they have no need to expand their stadium in the future while we probably do if we want to grow as a Premier League club eventually. Therefore all their extra income can go on players and salaries, while we have to take a slightly more long term view.
We can all argue until we're blue in the face about whether this attitude is the right one, but personally I think we'll be seeing the benefits of such long-termism in 10 years time. Of course..that doesn't make days like yesterday any easier to take.