WG

Cost of Being a Fan Goes Up

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The Virgin Money Football Fans’ Inflation Index shows that the cost of going to a match for an individual has risen to £89.53, a five per cent year-on-year increase on a year ago. The cost of attending games has gone up by 14 per cent since the index was launched in 2006. However, the basket of goods reached its peak last October when it was as high as £106.21, reflecting petrol prices among other factors. One response from fans is that one in four of them will not buy their team’s new kit next season.

New Investment Fund For Clubs

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At least six Football League clubs have begun negotiating with a City-based investment fund in the hope of borrowing money for the close season. The majority are believed to be Coca-Cola Championship clubs. Hero Global Football Fund has been set up to invest in football without taking equity in clubs. Backed by Emirates Bank, Hero plans to raise up to £100m based on minimum subscriptions of £100,000. The money will be made available for buying players and will be secured across the squad rather than against individual players.

Wenger Hits Out At Tax Changes

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Arsenal manager Arsene Wenger has said that the era of foreign domination in the Premiership will ‘soon be over’ due to the declining value of the pound, which makes transfer fees more expensive, and the imposition in last week’s Budget of a 50 per cent tax rate on high earners. All Premiership players fall into the £150,000-a-year bracket subject to the highest tax band and Wenger believes this will lead to an exodus of foreign players this month. They could end up paying an extra 16 per cent in tax when one takes account of the elimination of personal allowances for higher earners.

New Bid For Charlton Athletic?

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South-East London club Charlton Athletic have already been relegated to League 1, but now there is a news of a possible bid which could revive their fortunes. Normally reliable sources are indicating that former chief executive Peter Varney, a popular figure at The Valley, has put together a consortium of wealthy businessmen who are willing to buy the club. Varney has not denied the reports.

Manchester United Backdown Over Season Tickets

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Manchester United has struck a deal to cut the number of available season tickets after an investigation by the trading standards watchdog found that the club was failing to guarantee holders a seat for every league and cup game. Supporters complained of ‘rocketing’ prices and a compulsory scheme that forced season ticket holders to purchase tickets for all home cup games. A one-year season ticket introduced in 2007 required holders to sign up to the scheme but did not guarantee them tickets for cup games.

MPs Want to Tighten Fit and Proper Persons Test

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The All Party Football Group has called for a reform of the ‘fit and proper persons’ test for owning a football club. The MPs said that a prospective buyer should have their debt leveraging plans assessed to judge whether they would be suitable. They also want the test to consider the practice of directors lending clubs money for short-term gains.

Southampton Fight Points Deduction

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Southampton are to appeal against the ten points deduction imposed by the Football League. If they are relegated anyway, they would start their League 1 season with minus ten points. After studying a report by forensic accountants, the League decided that the holding company and the club ‘are inextricaby linked as one economic entity’. However, the club argue that Grant Thornton, the firm of accountants that conducted the investigation, went outside the remit agreed by the League and the club. The League has insisted, however, that Saints have no good grounds for an appeal.

Parliamentary Group Backs Blatter Plan

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Following a year-long investigation into the state of English football, the All Party Parliamentary Group is expected to back Sepp Blatter’s plan for a ‘six plus five’ rule. This would require each team in the Premiership to field a minimum of six players eligible to play for England. The Premier League has dismissed the plan as unworkable and argued that it is incompatible between European law that protects freedom of movement for workers between member states.

Mixed Fortunes For Non-league Clubs

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Salisbury City, up for sale for £1, will meet two more prospective buyers in the next few days after already holding talks with prospective owners. A consortium of local businessmen and a stand-alone buyer have already held talks with the Conference club. Another potential buyer from Denmark is interested in the club, while there is also a second consortium in the wings. However, a quick sale is not expected.

Ownership Issues Bubble On At West Ham

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The ownership situation at West Ham bubbles on, but the bottom line is that the club is likely to have a secure future with Gianfranco Zola as manager. Talks between Straumur, the failed Icelandic bank, and its creditors continue. The bank, which controls 80 per cent of the club’s debts, collapsed last month, and was placed in a moratorium protection by a Reykjavik court while talks continue with creditors. The banking group, which enjoys moratorium protection until the end of May, is in talks about how best to operate West Ham as a going concern from the end of the season.