- "Manchester City announce losses of £121m."
- "Lord Sugar admits fears over United and Liverpool debt."
- "Financial Warning"
I like watching soccer, in particular, the English Premier League. It is the arguably most popular soccer league in the world, if not the richest. One look at the cable bills of many households around the world will reveal the ridiculous amount soccer fans shell out to watch live telecasts of the English soccer league. Despite the often touted quality of the game, one cannot help bur feel disgusted by the news of huge financial losses by the big clubs such as Manchester United, Liverpool, Arsenal and Chelsea. Manchester City has recently joined the ranks of the big clubs and has just announced a phenomenal 121 million pounds loss. Thanks to its free spending power of the rich owners. Manchester United and Liverpool are also owned by foreign owners but borrowed heavily from banks to finance the clubs.
What makes me sick is because of the way big money is spent, and yet the clubs report such a big loss. It really cause me to question if this is money well spent or easily squandered on poor management or lousy financial planning. Some may accuse the clubs of spending too much on hyped up soccer players. Looking at the amount of advertising, sponsorship and TV broadcast money income, one would have thought that football clubs in the Premier League will have it good. Unfortunately, it is not. They continue to sadden the football public with bad news after next regarding their financial books. High wages and mismanagement will be two of the biggest hurdles about the viability of the football clubs.
I fear that money politics are killing the game. It may be the single biggest reason why football will no longer be tarnished, and no longer be the most beautiful game on earth.
conrade
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