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The economic news coming out of Spain is grim. Unemployment, always on the high side by EU standards, has soared, particularly among young people. Many of them are choosing to emigrate to Mexico or elsewhere in Latin America. The banks are in deep trouble and, whatever the Government may say, the country may well need a bailout from the IMF and the EU.
Cardiff City’s shirts are to be rebranded from blue to red. It is the club’s first change of the home kit since 1910 when, probably wisely, they swapped from a chocolate and amber strip. The decision will anger many Bluebirds fans, but equally they would have been upset if the club’s much needed investment had been withdrawn.
Rugby’s two codes were traditionally associated with the north and south. Rugby league had a gritty, working class image. Rugby union was associated with the south of England and the established middle classes. When visiting a fee paying boarding school I know quite well, I was surprised that they had hired a prototypical Scouser as a teacher until I discovered that he was the rugby coach.
Cheltenham Town may have been defeated in the play off finals, but their financial position has improved considerably. Not so long ago they were recording losses of £800k, were dicing with administration and looked as if they might return to the non-league. Now, helped by a good FA Cup run and the revenue from the play-off final, they are set to record a profit for the third consecutive year.
Mike Ashley’s Sports Direct is likely to bid for Umbro, the UK-based football brand that sponsors the England team kit. The discount sportswear chain owned a 30 per cent stake in Umbro before Nike took it private.
Nike bought Umbro in 2007 for £285m in an effort to increase its football revenues, but results were disappointing. Revenues were $276m in 2006 but $224m last year. Analysts believe that Nike will struggle to get back what it paid.
Apart from having their captain arrested in a match fixing scandal, it is unclear where Rome’s Lazio will play next season. It could be 400 miles away from the Eternal City as Claudio Lotito, the club’s president, has registered Palmero’s Barbera ground as the home venue for Lazio’s Europa League games next season.
Italian police visited the national team’s training ground near Firenze earlier this week as part of an ongoing match fixing investigation. Among those arrested in the latest phase were Stefano Mauri, the captain of Lazio.
Police from Cremona in northern Italy are leading the so-called ‘Last Bet’ investigation which is said to involve eight matches from the 2010-11 season. It is alleged to involve several teams in the top three divisions and an international betting syndicate that extends to Singapore and South Africa.
A mystery American consortium may make a bid for Leeds United. They are understood to have toured Elland Road and the Thorpe Arch training facility this week.
Leeds finished 14th in the Championship last season and supporters voted with their feet as the average home attendance fell by more than 4,000. Fans consider that the club has been languishing in the Championship for too long and would welcome solid new investment that would underwrite a sustained bid for promotion.
Against a background of recession and economic turbulence in Europe people are continuing to enjoy their football. The latest report from Deloitte Sports Business shows that the football market is continuing to grow, although the Bundesliga remains the most profitable league.
Here are some highlights we have not covered in earlier reports:
The latest annual review of football finance from Deloitte Sports Business understandably focuses on the Premiership, but also points out the achievements of the Football League are sometimes overlooked, although there also grounds for concern.
Revenue in the Football League Championship increased by £17m (4%) to £423m, prompted by an increase in the solidarity payments from the Premier League and the promotion of some larger clubs into the division.