How do you measure success? By trophies or by turnover? I think you have to take both into account, which is why I would name Exeter, rather than Saracens or Leicester, as the most successful English club in the professional era.

Their story has been well told but it remains remarkable. Since winning promotion to the Premiership in 2010, they have improved season on season and have already wrapped up a play-off spot ahead of facing Northampton at Sandy Park on Saturday. Just as impressive is their balance sheet, which for last season shows a profit of £1 million. Northampton were the only others to make a profit in a league that haemorrhages money.

They have no leg-up, no sugar daddy like a Bruce Craig at Bath or Steve Lansdown at Bristol. They have not chased marquee signings. They had to build their stadium, Sandy Park, brick by brick just to enter the Premiership. It has all been about organic, sustainable growth – pretty much the holy grail of any team in professional sport.

Very few teams achieve that. Some may set out with it as a goal but then the temptation to take shortcuts becomes too great. Saracens’ dominance is as much built on a £40 million debt as their core of home-grown academy players. Leicester, by contrast, have the turnover but have not managed to sustain continued improvement on the pitch.