Yes, but they reached that position by being able to spend freely. Once they're all £300m a year ahead of everyone, PSR magically became an enforceable thing- definitely nothing to do with us threatening them.

From that point, nobody can spend enough money to build the size and quality of squad that ensures continual European football that adds major revenue and continues the exposure that ensures they all have commercial revenue that blows everyone out of the water.

They lifted the ladder up with them. Nobody else has qualified for CL in two consecutive seasons, as the physical demands are too high, and the wages become impossible to keep up with. When the 6th highest earning club pretty much doubles the 7th, there's always going to be a minimum £250mill gap.

Rinse and repeat.