Published at the Washington Post.
But even within a stratified system, better- and worse-run clubs stand out. I did a quick regression based on points and inflation-adjusted payroll to find the expected points for a club based on its total payroll. This does not include transfer spending, but for most clubs transfer spending tracks with wage bill reasonably well. The results can be seen at the end of the article. A few top clubs stand out. In the scatter plot below, I have marked a few clubs in particular. At the top end, you can see the impressive numbers of Alex Ferguson’s Manchester United and David Moyes’s Everton teams. At the bottom end, Newcastle United shows up as a consistent underperformer regardless of who has been in charge.