"If you want some accessible but informative insight into football then I suggest you couldn't do better than the Political Economy of Football website, which is not only intelligible but comes with the added bonus of being written by Addicks fan Wyn Grant." Ben Hayes - Charlton Athletic programme
WG Over the next few days I will be developing a discussion about the particular challenges faced by football teams in resort towns. These include the presence of a large seasonal workforce; a high retired population who, if they are interested in football at all, may have allegiances elsewhere; and, in some cases, high levels of socio-economic deprivation.
It has been a long drawn out saga which started in February but Notts County have been sold by owner Ray Trew to local businessman Alan Hardy. Trew put the club up for sale after being subjected to what he called ‘mindless abuse’ by fans. They are the oldest professional football club in the world, having been founded in 1862.
An estimated debt of £30m at Bolton Wanderers could halve if a £15m loan to former owner Eddie Davies does not have to be paid back. £171m of Davies’ original loan of £186m has already been written off. When Davies was the club benefactor he was putting in £15m-£18m a year.
When such largesse from a benefactor is no longer available, a club faces cold turkey. Bolton’s big challenge now is to reduce a big wage bill resulting from high cost players.
Sunderland’s chief executive has admitted that there will be little money to spend in the January transfer window because of losses and financial fair play rules. However, the club are not running up the relegation white flag as they propose to hold on to their key players (who might then have to go in a summer fire sale).
It looks as if Millwall are going to lose out in their battle to prevent Lewisham Council placing a compulsory purchase order on land around their stadium. The order could undermine the viability of the stadium and in particular the work of their Community Trust.
Securing promotion is particularly important for Brighton and Hove Albion this season otherwise they may fall foul of financial fair play rules. Championship clubs are allowed to lose £39m over three seasons, but the Seagulls made a £25.9m loss in 2015-16. The allowance is much more generous for Premier League Clubs or even for yo-yo clubs, plus revenues in the top flight are so much higher.
Unsurprisingly, 2016 Ballon d’Or winner Cristiano Ronaldo is worth quite a lot of money. He had declared income of €225m in 2015 with €2m in 22 different Swiss bank accounts. The bulk of his income was earned outside Spain. He is battling accusations of tax evasion which he emphatically denies.
There is increasing speculation in the Russian business community that Roman Abramovich may sell Chelsea. Many of his fellow oligarchs are loosening their ties to London.
This time last year all the talk was of a new style Premier League which would no longer be dominated by the top five clubs. The rise of Leicester City was produced as positive proof of a new era, overlooking the fact that Leicester City’s succees was not just a product of their own audacity but also problems besetting all the conventional title challengers.
Sunderland need to extrictate themselves from a series of difficult financial dilemmas if they are to escape relegation. if they were relegated, their financial position could become unsustainable.