Anova application question

#1
Hello, I have a question regarding the application of Anova in the following paper: http://www.emeraldinsight.com/doi/abs/10.1108/20426781311316889
It examines the relationship of the ownership status of football clubs with the performance in various financial indicators. The sample is from the premier league over 10 seasons. The way I understand it, the author creates cases for each club and its ownership status in a particular season, and then applies the anova analysis. But since this is based on panel data, therefore the observations are not independent, which is a requirement for anova. Why can this be applied here? Wouldn`t you need to apply anova with repeated measurements?
I am not not an expert so any help would be appreciated.