Date: 10th May 2010 at 4:29pm
Written by:

There’s something wrong with the Premier League, it’s stuffed with more cash than an MPs expenses claims. So many teams taken over by so many fat cats, each wanting to have a more expensive toy than the oligarch down the road.

Where will it all end?

In tatters when they get fed up as all rich kids do and move on to the next thing to tickle their fancy. The buying and selling of Premier League clubs is the sporting equivalent of a Ponzi Scheme,except football club trading is legal.

Liverpool have already been cast aside by Hicks & Gillett when they realised simply owning a team isn’t enough to guarantee success, and are £351m in debt.

Liverpool’s failure to qualify to next years lucrative Champions League no doubt played a large part in their decision to flog the team. These big money take overs require big money success to fund the debt they often incur, who can forget what happened to Leeds when they missed out on Big Cup football, there was more than financial mismanagement at Leeds, but that only dictated how far they fell. Is Liverpool’s name and past glories enough to attract the big managers any more?

Portsmouth bet the farm on a big spending foreign owner, and while they enjoyed very brief success, how many of their fans right now would say it’s worth it?

The level of debt at Manchester United is utterly ridiculous, and I totally sympathise with their fans, unlike Portsmouth who welcomed their sugar daddy with open arms and trophies in their eyes, United fans were against the takeover from the start, they didn’t want their club saddled with such HUGE amounts of debt that will inevitably blow up in their faces.

By far the best appointment this club has ever made was making John Williams Chief Executive, and later Chairman. The way he’s run our club is a textbook example of how to run a football club. Our tickets are affordable, especially if you buy a season ticket, and apart from Ince his managerial appointments have been a great success. It’s always the fans that pay more to service the debt, never the owners.

So that’s why I’ll happily trade a brief, shining moment in the limelight followed by years of instability as the club recovers from the high for a stable club, stable management and a stable future.

Join The Vital Debate

 

14 Replies to “With Skill and Labour”

  • Nice article this and I have to say I agree for the most part. If we can continue to compete without a benefactor then I’m all for that. As it is a club need a huge investment to just stay in the league nevermind competing for trophies eg Sunderland. If we were to get a new owner they would have to be Jack Walker reincarnate and I just can’t see that.

  • i think the key is to get the balance right which is what Rovers have done well over the last 5-10 years with their finances. unfortunately the FA and Premier League or UEFA don’t offer any rewards for this. instead clubs are allowed to spend money they haven’t really got to gamble on success and it’s all wrong.

  • Would anyone wanna gamble on a new owner though not knowing their full background? Or do they prefer staying as we are?!

  • Great article. Mr Williams has stayed the course against constant criticism for not spending big. I’m happy to be in the Premier League and i’m happy my club will still exist next year. We have a 135 year history. why the hell would we throw that away for a year or two’s worth of glory?

  • Our club is well run and it is a great deal to do with Williams. To think that we finished 3 places below Liverpool, who spent millions over the past few seasons shows you that money doesn’t necessarily mean success. I think Arsenal were the only team in the top four to have made money on transfers this season too. With regards to Man Utd fans and their bloody green and yellow scarf campaign – you guys moan about your club being taken over, but a load of fans I knew had shares that they had bought and then went on to sell for a profit – if they didn’t want the Glaziers there they shouldn’t have sold out!

  • here here!!! I read the LET (electronic) this morning and a subscriber has started the “samites” as a movement from the prophet Sam…..I have became an immediate member!! Thought it was genious!! ha ha

Your Comment