Chelsea is indebted solely to its owner, Roman Abramovich, whose trick was to outspend everyone while his fortune was at its height and to transfer the money the club owed him into shares he owns.

A new challenger, Manchester City, was owned first by the exiled former prime minister of Thailand and now by the ruling family of Abu Dhabi. Manchester City’s biggest match of the season is Wednesday, when it plays Tottenham Hotspur. If Tottenham wins, it will finish fourth. If City wins, it will probably finish fourth.

A fourth-place finish in England puts a club in the qualifying rounds of the Champions League. That is the Holy Grail for City’s new owners. Everyone’s future at the club depends on the outcome of Wednesday night’s game.

If City wins, there is talk that it will pay whatever it takes to lure Fernando Torres from Liverpool. He is injured, and has been for much of the season. Torres is the most potent striker in England — some would say in the world — so his transfer value would be anything the buyer and seller deem it to be.

That could be as much as 80 million pounds, about $121.5 million. Torres could command an annual salary of $15 million.

If Torres goes, Rafael Benítez, his fellow Spaniard, will probably go as well.

The manager at an English club is responsible not just for tactics and team selection, but also for buying and selling players. Since Benítez arrived six years ago, he has made 48 major signings — spending more than $350 million — and sold 59 players, for about $220 million.

That deficit on player moves is exceeded by the interest payments on loans taken out by Tom Hicks and George Gillett, Liverpool’s American and Canadian co-owners.