http://www.scribd.com/doc/55741334/Sport-Scribd-Doc
Record income but record losses for Premier League | David Conn | Football | guardian.co.uk
The amount of wages paid compared to the to table finish position are worth a look.
It seems that for this season, we are about right and not really 'over-achieving'.
The Joleon Lescott statement doesn't seem quite right, but it is true. It's no secret that some of the money from his sale was used to pay some player wages but it was also used to bring in new players. Robert Elstone was correct in saying it was re-invested into the squad.