We are now into a second phase of global investment in English football, according to Rory Smith, writing in the latest issue of Four Four Two.
He argues that the Manchester City takeover in 2008 was a watershed. The amount it cost Sheikh Mansour to turn City into a top class Premier League outfit was much more than the money spent by Roman Abramovich on Chelsea.
We are now into a second phase of global investment in English football, according to Rory Smith, writing in the latest issue of Four Four Two.
He argues that the Manchester City takeover in 2008 was a watershed. The amount it cost Sheikh Mansour to turn City into a top class Premier League outfit was much more than the money spent by Roman Abramovich on Chelsea.
It ‘essentially closed the door on buyers hoping to acquire Premier League clubs. The funds required to break into that elite group precluded all but the very wealthiest even attempting it.’ One might argue that Leicester City provides a counter example.
However, broadcasting deals have attracted investors to small Premiership clubs such as Crystal Palace and Swansea. They can ‘deliver reliable but unspectacular returns for minimal input.’
Those prepared to take a greater risk head for Chanoionship clubs. If they get promoted, they derive the income from television rights or they can sell up at a significant mark-up.