The point that we are state backed is bonkers if non-state-backed clubs spend a lot more than us. And our net spend over the last 5 years shows that we don't spend more than the other top clubs.
What's the point of crying that we are state backed if some Americans can spend vastly more on players than us? Clearly, it helps other clubs to justify their problems and inability to compete. The truth is, City are much better managed than other clubs with a comparable financial power.
I'm saying the main argument people have against the concept of state ownership isn't the money they're able to spend. Lots of clubs can and have spent more than City. The problem they have with it is sports washing angle, hence why anyone that previously had an issue with City (and PSG and Newcastle) for those reasons will have a problem with City and the other two clubs. Boehly's spending at Chelsea will have zero impact on how those people feel about City. That was all I was saying