The end of the transfer window is usually accompanied by a great deal of hand wringing about how much footballers get paid. The latest example is calculations of how much Gareth Bale gets paid a minute, which is admittedly a lot, although his lifestyle seems to have been relatively modest up to now.
The end of the transfer window is usually accompanied by a great deal of hand wringing about how much footballers get paid. The latest example is calculations of how much Gareth Bale gets paid a minute, which is admittedly a lot, although his lifestyle seems to have been relatively modest up to now.
Two sorts of objections are usually made. One is that the amounts involved are excessive, particularly when one considers the impact of the economic downturn on countries like Britain and Spain. Interestingly, no one seems to object very much to the amount earnt by leading entertainers like Mick Jagger or paid to film stars.
Perhaps one could argue that they entertain their fans more consistently than footballers, but someone strutting their stuff on a stage does not have to cope with an opposition cramping their style. I sometimes think that it has something to do with the fact that footballers often come from relatively impoverished and/or ethhnic minority backgrounds.
Anyway, we do live in what claim to be market economies. In the old Soviet Union, wage differentials were limited to a five to one ratio, but then the Communist elite had access to special shops, dachas (admittedly furnished in bad taste), and other privileges.
The other argument is that it places clubs at financial risk, although what concerns Uefa is not big clubs spending more they do have but lesser clubs spending money they don’t have. There is also a knock on effect from high wages which can be felt even at non-league level. Financial fair play in its international and domestic versions is an attempt to tackle this, but it is hopelessly flawed, a subject I shall return to in a later posting.
Let me leave the last word to football economics guru Stefan Szymanski who told the Financial Times that the summer transfer window was not an example of boom and bust. He continued, ‘This is a continuation of what has been sustained growth in player values over the last 40 years.’ Whether there has been a commensurate increase in player performance is an interesting question, although players are undoubtedly fitter and more athletic than they have ever been.
Szymanski reassured Pink ‘Un readers: ‘This is no more suprising than the fact that what Tom Cruise gets paid for a movie appearance goes up year by year. Players’ value resides in the incredible scarcity of skills required to entertain us.’ Of course, one might argue that it is one thing to pay genuinely world class players high salaries, but the consequence is that too many mediocrities and journeymen are overpaid.