We recently analyzed the returns of a hypothetical global portfolio as well as a hypothetical US-only portfolio ( 1) over rolling 3-year periods between January 1, 1999 and December 31, 2011, with each rolling period resetting monthly (see graph below).
Failure to reach agreement on the seven-year budget would mean the EU rolling over annual budgets - a method that would be more expensive and would complicate long-term projects.
The regulations, backed by Blues owner Roman Abramovich, demand that teams in European competitions break even over a rolling three-year period from 2012-13.