Former Liverpool manager Bill Shankly purposely excluded the men in suits from his football "holy trinity" of fans, players and managers.

But now it looks as if - in the Midlands at least - the directors and accountants who run football clubs will have their day.

Because despite the poor performances on the pitch at Aston Villa, Birmingham City and West Bromwich Albion, all three were among a select group of five Premiership clubs who finished in the black last year.

And the accountants who publish the latest figures into football finances today, claim that more and more clubs are following 'Deadly' Doug Ellis' lead in keeping a tight hold on the purse strings.

In fact, all Premiership football clubs have managed to rein in their wage bills for the first time in the league's history, according to figures released by financial advisors Deloitte.

But only the three Midland clubs - along with Manchester United and Charlton Athletic - finished with net funds rather than a net debt at the end of 2004/5 - the most recent season for which figures are available.

Dan Jones, a partner in the Sports Business Group, said: "There has been a real change in the last five years in the attitudes of people in terms of football finance.

"Nobody believes that you can just throw money at attempting to get success and worry about it later. Most people recognise that is not the answer.

"Fans of the three West Midland clubs would have all seen a good deal of restraint.

They have been run pretty sensibly in order to safeguard their long term futures.

"They have not been 'living the dream', but they are stable and will not have to worry about the future."

Former Leeds United chairman Peter Risdale famously said his club had "lived the dream" after they appeared in a European Cup semi-final in 2001.

But the curtain came crashing down months later when a massive wage bill put the club into administration.

Wages have risen by an average 20 per cent since the Premiership was set up in 1992, with slower growth in recent years, Deloitte said.

While top flight stars in England continue to take home more than their European counterparts, Premiership clubs saw their total wage bills fall by 3.2 per cent in the 2004/05 season.

The figures, which do not take into account the recently announced #1.7 billion broadcasting rights deal for Premiership matches, show top clubs paying out a total of #785 million on wages in 2004/05.

The total was down from #811 million a year before.

Jonathan Fear, chairman of Aston Villa Shareholders' Association, said he would trade some of this austerity for excitement at Villa Park.

He said: "If they had the product on the pitch we would fill the ground twice over and that would turn Aston Villa into a business that would generate real profits.

"None of us have asked the directors or chairman to put the club into jeopardy, but the way the club is being run now we are looking at relegation.

"However, we would like to see a little more excitement or emotion on the pitch."