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@jaw
Have you just realised this or did the league table not state it clearly enough for the last 3 seasons? 10th place has been closer than automatic qualification for the CL.
LFC have got the 5th largest salary bill in the PL and have consistently under performed and my best guess is that this season will be pretty much make or break for FSG. Over the course of the last 3 season LFC have been the biggest underachievers and Everton have been the biggest overachievers in the top half of the table (salary vs. points ratio).
http://www.financialfairplay.co.uk/latest-news/wage-and-the-premier-league-scaled-table
I think it's going to be an interesting season if only for the fact that Spurs will be much stronger this year and the gap between the top 3 and the rest is ever growing but the rest of the lot have all gotten a lot stronger.
Norwich, Southampton, Swansea, WBA, Villa and Sunderland have all made good signings.