The Political Economy of Football V2

While many clubs’ ascent to European competition has been driven by deep-pocketed owners, Brest’s uptick in fortunes has relied on canny use of its small budget and a focus on experienced players.  Its old-school model of local owners and prudent transfers is the antithesis of cash-rich clubs such as Paris Saint-Germain. To stay in Europe’s elite club competition, “the Pirates” face a tough second-leg match at PSG next week. The team lost the first-leg to its French rivals 3-0. The tie highlights the stark disparities between the tournament’s biggest and smallest teams.  Over the past decade, Qatar-owned PSG has spent close to €2bn on transfers, according to Transfermarkt — 40 times more than the Britanny club. Brest reported revenue of €51mn for 2022-23, a fraction of the €807mn earned by its Parisian rival over the same season. Stade Brestois 29, the club’s full name, has a loyal fan base in the rainy industrial port with working-class roots. Yet the team’s success has s...

Brentford have clearly come a long way, as they were playing in League Two only 15 years ago. Supported by owner Matthew Benham, who fully bought the club in June 2012, both in terms of financial contributions and a smart, data-led recruitment policy, the club has made great progress on and off the pitch. However, last season Brentford swung from a £9m pre-tax profit to an £8m loss, a decline of £17m, as significant investment in the squad led to a £35m (21%) increase in operating expenses from £166m to £201m, while net interest payable quadrupled from £1m to £4m.   This was partially offset by a significant improvement in profit on player sales from £6m to £25m, though revenue was flat at £167m. The club said that it had done well to maintain revenue at the same level, despite external economic pressures and a drop of seven positions in the league.   That led to a £7m (6%) reduction in broadcasting income from £135m to £128m, though this was offset by commercial income ri...

The most striking events of yesterday’s game at the Tottenham Hotspur stadium came long before kick-off, with an organised protest march to the stadium. It was the biggest organised display of discontent Tottenham have seen for years. There have been moments of frustration and disappointment over the years, just as you would endure at any football club. There was a real outburst of anger in April 2021 when Spurs signed up to join the Super League and fans congregated outside the stadium with anti-ENIC and anti-Levy banners not too different from those seen on Sunday. But that was still the era of Covid restrictions and those protests were just a few dozen fans outside the ground, many of them wearing masks. This was something bigger. It all started two hours before kick-off at the junction of Lordship Lane and the High Road, just down the road from the stadium. At first, a few dozen fans were gathered on the pavement in front of The Trampery, the grand red brick building on the cor...

The Premier League has once again been made to look foolish by Manchester City’s smart lawyers and run up yet another big legal bill.   The top flight competitionhas been dealt a devastating blow in its legal battle with Manchester City after its sponsorship rules enforced between 2021 and 2024 were declared void. An independent tribunal ruled in October last year that three elements of the rules regarding Associated Party Transactions (APT) were unlawful, in particular around loans from owners and shareholders to clubs. City’s interpretation of the initial decision was that the APT rules in their entirety were void and that the unlawful elements could not simply be struck off. The Premier League dismissed these concerns and pushed ahead with amendments which were approved by 16 of the 20 top-flight clubs in November. The rules, introduced in December 2021 in the wake of the Saudi-led takeover of Newcastle United, were designed to maintain the competitiveness of the...

Crypto coin company Tether has acquired a minority stake in Juventus:  https://www.tradingview.com/news/cointelegraph:8a31b6487094b:0-tether-invests-in-juventus-football-club/ Tether, which issues the $142 billion stablecoin USDT, didn’t disclose the size or value of its holding in Turin-based Juventus in an announcement on Friday. Juventus didn’t immediately respond to a request for comment. The El Salvador-headquartered company has ramped up its dealmaking significantly in recent years as its profits swelled, powered by rising interest rates on the US government bonds it manages. Tether said it has more than $7 billion in excess capital last month, up from about $1 billion from three months earlier. Tether has been investing in everything from digital payments to farming infrastructure, rapidly expanding its reach across the global business sphere. It plowed $775 million into the social media company Rumble Inc. in December, while holding a stake worth more than €1.32 billion...

 'Strong action' has improved Shrewsbury Town's finances, but they are still making a loss and seeking outside investment:  https://www.shropshirestar.com/sport/2025/02/14/roland-wycherley-strong-actions-have-help-improve-shrewsbury-towns-finances/ The club serves a large rural area and has to face clubs with very wealthy owners such as Birmingham City, Wrexham and Wycombe Wanderers.   League One is becoming more like the Championship as outside investors crowd in.