Yes 2012 has a lot to do with it but unfortunately money and finances 9/10s dictates footbsll. We had no right to be in a Europa final . Until we reach the point we can match them financially in the transfer market they will likely continue to win more than us at least in recent years
They had 9 years of unchallenged European money where they also collected the full TV part of it too when we were out the league. That will be shared next season if we qualify for the CL and it's substantial on its own. Then there is the 10 year coefficient payment figure which they will remain in front of us in for the next few years too. Again a significant stand alone sum.
From that windfall they recruited very well in terms of turning over large profits year on year for players whereas Paterson is the highest transfer fee we've received since Hutton all those years ago. Then they benefitted from Van Dyke to Liverpool and their own academy product coming through that netted them a combined 37m quid up front.
They have 10k extra seats which does make a difference too, especially in Europe. Then there are the areas fans don't take into account in terms of infrastructure. Their stadium and the surrounding area was 'freshened up' at zero expense to them for the Commonwealth Games whilst we had charlatans bleed us dry and let our stadium and facilities deteriorate to such an extent that it cost King and the 3 bears multi millions that could've gone on the first team squad just to get it back to an acceptable standard and that was before they made the modernisation changes Gerrard insisted on which would've been millions more. They could simply keep ploughing it back into transfers.
Their sponsorship and merchandise deals were also superior to ours to the tune of multi millions but Bisgrove and finally getting rid of Ashley and having a proper, financially beneficial shirt supplier, whether you rate them or not, is starting to negate that.
The positive is that they no longer have the sellable assets now that they had then. They won't make much more, if at all, on Carter Vickers and Jota than they are buying them for, for example, and the majority of their squad is worth jack shit. The league, and therefore Champions League access, isn't guaranteed as once was for them and unless a serious miscarriage of justice happens they will have a fortune to pay out on court settlements. They've spent 25m+ each season for the past 3 years, mainly funded from outgoing transfers, that won't be available anymore sooner than people realise. The turnover gap is more or less gone and the accounts over the next few seasons will bear that out. It's not as bad as you seem to think.
