The link between financial strength is neither absolute nor unidirectional. Performance on the field of play helps financial performance, e.g. it helps bring patrons through the turnstiles and there is usually prize money involved. Financial performance helps footballing results as wealthier clubs can buy better player and pay better wages. The relationship between financial performance and footballing performances for the 2014-5 Barclays Premier League is presented in the picture below. Those above the line produced footballing results above what their their financial performance might suggest.
Chelsea have gone from over performing on the field to under performing. This can be seen in the picture below where current league positions are used. Manchester United and Newcastle remain below the line. Fans of Aston Villa must wonder if their 2015-6 footballing performance will mean losing out on the financial riches that are due to come with the TV deal. It is not a good time to lose your Premier League status. Maybe that is why Newcastle are splashing the cash in the current transfer window.