The Political Economy of Football V2

This is the first time that all three European finals have included an English side. Is it, perhaps, a cause for concern? Probably not when it comes to the Champions League. Financially, top European clubs are on a par with their English counterparts. In fact, only one Premier League side featured in the top five of the latest Deloitte Money League table. But in the second- and third-tier competitions, designed to broaden access to European football (and the associated cash boost from Uefa), worries may be creeping in. Uefa’s relatively new financial rules restrict spending as a percentage of income. Even smaller top-tier English clubs have far higher revenue than their continental counterparts, giving them a big financial advantage in both the Europa League and the Europa Conference (both of which were won by English teams last year). For example, Aston Villa had revenue last season of £378mn (€431mn). Their fellow finalists SC Freiburg had just €163mn. If these compe...

The structure of Swindon Town's finances have been simplified with 'all roads leading back to the owner.' Some of the financial instruments used, notably debentures, have concerned supporters.  At the end of the day, the club is now more reliant on the owner's goodwill:  https://www.swindon24.co.uk/sport/swindon-town-restructure-finances-as-owner-consolidates-debt-and-control/

Liverpool have revised plans to increase ticket prices following protests and lengthy discussions with the club’s supporters’ board. In March, the club announced a three per cent rise for next season with further inflation-linked increases to follow in 2027-28 and 2028-29.    Given that inflation is now expected to be more than three per cent, this is a cut in real terms.   All clubs have found ‘other expenses’ increasing rapidly, especially utility bills but also national insurance. Yet after a strong backlash, particularly at recent games, Liverpool have on Thursday confirmed a compromise.   While the three per cent inflation-based rise for general admission next season will remain, there will now be a freeze on prices for the 2027-28 season. Liverpool Supporters Board say they “welcome the decision” and will now work closely with the club on a new proposal, including alternative ways to generate revenue to avoid future price increases. A statement fro...

For over a century, Bromley was the definition of a “local” club. They were staples of the Athenian and Isthmian leagues, originally ‘amateur’ leagues.  As an amateur club, they won the first FA Amateur Cup to be staged at Wembley in 1949. Even when they became semi-professional, those were the types of divisions where the tea is hot, the terraces are concrete, and the players often have day jobs.    Now after 132 years in the shadows of London’s giants*, the Ravens have been promoted as champions to League One. The turning point wasn’t a sudden influx of oil money, but a slow build-up of professionalism and stability.   Owner Robin Stanton-Gleaves, who made his money in the printing and technology sectors, became majority shareholder and chairman in 2019. Since then, they have secured two promotions as well as winning the FA Trophy against Wrexham in 2022. The Club’s transformation is a tale of having a clear identity, with strategic ownership, smart recruit...

When I started watching football in 1953, the visit of Wolves to The Valley was very much to be feared.  With Billy Wright as captain, they were one of the country's top clubs.   There have been many ups and downs since then, but I cherished my occasional lunches with a lifelong supporter who sadly eventually passed away at an advanced age. It doesn't take a genius to work out what has gone wrong recently, but the Swiss Ramble provides a forensic analysis of what has gone wrong using the 2024/25 accounts and his own extensive and unrivaled data set, more can be found on Substack.   Some highlights below. Last night I was watching the gripping conclusion to the world snooker final from Sheffield.  When the young Chinese challenger won, the representative of the equivalent sporting body from China made sure that he was wrapped in the Chinese flag for all the photos.   No doubt the sporting body is approved by the Communist Party. I have only been to...

A consortium led by U.S. businessman David Storch has completed a takeover of Sheffield Wednesday, who are now out of administration and will start next season in League One without a 15-point deduction. The new owners were confirmed ahead of Wednesday hosting West Bromwich Albion on the final day of the Championship season at a sold-out Hillsborough. The hosts won the game 2-1, just their second league victory of the season, to take them back to zero points after two separate deductions totalling 18 points. According to the English Football League (EFL)’s insolvency rules, clubs that fail to exit administration without paying all creditors at least 25 per cent of what they are owed, usually receive a 15-point penalty. The EFL’s board, however, has the power to waive this sanction, and the Storch consortium made it very clear to the league that it would not proceed with the takeover unless the board agreed to exercise this discretion. So, the deduction has been suspended, subje...