I think that’s partly because most US teams are run like business (i.e. their owners want them to be profitable) whereas European football is largely a competit

I think that’s partly because most US teams are run like business (i.e. their owners want them to be profitable) whereas European football is largely a competition between Russian and Gulf oligarchs on who can spend more money. This is especially the case in England, e.g. the two Spanish clubs near the top of the list are not privately owned.