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Articles and reports on financial issues within football – soccer – from The Political Economy of Football.
American tycoon Preston Haskell IV intends to persist with his attempt to buy a half share in the Ricoh Arena and secure control of Coventry City despite his disappointment at not being named preferred bidder by the administrator.
Sisu were able to mount the largest bid by writing off debt. Haskell thinks that their business model is not sustainable in the long run and hopes they will eventually sell out to him.
It’s now nearly ten years since Roman Abramovich acquired Chelsea and this interesting article looks at the negotiations and what has happened since. Apparently, consideration was given to making a bid for Tottenham Hotspur, but Stamford Bridge was preferred as a location.
Rupert Murdoch is planning a summer football competition for 16 top clubs to start from 2015. Matches would be held in a variety of ‘world city’ venues such as Los Angeles and Shanghai.
One motivation for Murdoch may be the loss of the US Premier League contract by Fox to NBC. It also represents a further step in the globalisation of football with overseas summer tours assuming a greater importance in terms of selling merchandise and gaining sponsorship.
Norwich City obtained the best value per point from their squad last season. According to a study by the Football Observatory, their 11th place finish cost them just over £500,000 per point. In contrast Chelsea’s 3rd place cost £5m per point. It is a reminder just how expensive Premier League football is.
The administrator of Coventry City has selected a Sisu-related company as preferred bidder for the club. It must be the understatement of the year when he says that he realises that the decision will not be appreciated by many Sky Blues fans.
Hearts have been banned from signing any new players by the Scottish Premier League. The club failed to pay some of its players their July wages, incurring a transfer embargo and the possibility of further punishments at a later date. The wages were due on Friday and it is not yet clear how many players have received their pay, or what percentage has been paid.
Four potential investors have submitted bids for Coventry City FC. As expected, they include the consortium backed by American investor Preston Haskell IV. They also include a company related to Sisu-backed Coventry City Holdings.
Four potential investors have submitted bids for Coventry City FC. As expected, they include the consortium backed by American investor Preston Haskell IV. They also include a company related to Sisu-backed Coventry City Holdings.
Manchester United shares fell by as much as 9 per cent on the New York Stock Exchange yesterday, although they did rally later, closing at $15.16, down on the day by $1.53. The shares are relatively volatile, having fluctuated between $12 ad $19.34 over the last twelve months.
The reason for the fall appears to have been reports of a possible signing of Benfica defender Ezequiel Garay for £17m.
There has been increasing concern about whether enhanced parachute payments for clubs relegated from the Premier League will distort competition in the Championship. However, the picture is more complicated than it seems.