The sports business group of accountants Deloitte have a justified reputation for their annual review of football finance and other publications. They clearly understand the game and have a first-rate database at their fingertips. But this article suggests that they take too rosy a view of football which stems from their role as financial advisers to top clubs.
The sports business group of accountants Deloitte have a justified reputation for their annual review of football finance and other publications. They clearly understand the game and have a first-rate database at their fingertips. But this article suggests that they take too rosy a view of football which stems from their role as financial advisers to top clubs.
Even this article has to admit that the income stream in football has proved resilient against the background of the recession. However, it suggests that football has reached a financial watershed. I would agree in the sense that there clearly needs to be more scrutiny of the financial background of prospective owners. Clubs also need to relate their spending to their income rather than what they can borrow – which is becoming more difficult anyway.
But Deloitte has been advising for some time that clubs should try not to spend more than 50 per cent of turnover on players, advice that has too often been ignored. We are going to continue to need their informed commentary in future and I for one will be listening with interest to what they have to say.