The Political Economy of Football V2

One branch of my family now lives in Spain, but unfortunately none of them are interested in football.   That would be a lot to ask of my great-granddaughter who is three, but I have watched the older pupils from her school (boys and girls) enjoying a kick about in the village square. From his Zurich fastness, the Swiss Ramble has been casting his eye over the finances of Atlético Madrid.    Much more detail and analysis are available on his Substack page.   Some highlights follow. Private equity firm Apollo Sports Capital became majority shareholder in Atlético Madrid last November, buying a reported 55% stake. Following this deal, Quantum Pacific, founded by Israeli billionaire Idan Ofer, is the second largest shareholder with a stake of roughly 25%, while American investment firm Ares Management now has 5%. Gil Marin has seen his stake reduce to 10%, though he will remain as CEO, while club president Enrique Cerezo is down to 3%. Apollo’s investmen...

Football finance guru Kieran Maguire is relatively positive about Burnley's financial position after relegation as the Clartes have future proofed themselves against the eventuality, although some players may have to be sold:  https://www.burnleyexpress.net/sport/football/kieran-maguire-discusses-financial-impact-of-burnleys-relegation-from-the-premier-league-7449247 Maguire reckons that the real challenge is to make good use of the parachute payments and not suffer the fate of teams like Charlton and Stoke after they each had several years in the top flight.

Millwall say they are “considering their legal position” after the club’s badge was placed on a photo of a Ku Klux Klan figure in a children’s educational book. The image appeared in a booklet called ‘The Paul Canoville Story’, written by Peter Daniel, an education and interpretation officer at Westminster City Council. Millwall said they had since received a “full apology” from Westminster City Council. “The club has received a full apology from Westminster Council following their serious misuse of a registered club badge, which was placed on an illustration of a white supremacist hate group member in a children’s education booklet distributed in schools, creating a false and damaging image of the club,” a club statement, issued through their supporters’ trust, read. Millwall’s view is they are particularly disappointed as the club have made great effort in recent years to combat stereotypical and historical views held of the club, including on racism, and believe such incidents...

In the Premier League this season, heads are rolling faster than ever, as the financial pressures of under performance on the pitch push owners to take action. Since the start of the 2025-26 season, nine full-time managers of top-flight English clubs have been dismissed by their owners, averaging less than a year in the job, according to Financial Times analysis of Transfermarkt data. Managers who left this season lasted an average of 295 days in charge, the lowest tenure since the Premier League was launched 34 years ago. The previous record low was 415 days in 2008-09, excluding 1992-93 and 1995-96, when only one manager departed in each season. Alongside goals from corner kicks and the return of the long throw-in, managerial churn has been a feature of the season. Aside from Rosenior, Chelsea also sacked Maresca after 18 months in post, while Manchester United parted ways with Ruben Amorim after 14 months. Things have been even more brutal at the other end of the table. Nott...

I have a soft spot for Harrogate Town.  They are a fellow spa town team (I live in Leamington Spa).  For some years I was a consultant at Yorkshire Agricultural Society and the cab from my hotel to the showground always took me past their gronnd. Harrogate’s 2024/25 accounts show debts of £6.4 million owed to chairman Irving Weaver, who has said he does not intend to call-in the loans.   However, relegation would be a major financial blow. Asked to comment, football finance guru Kieran Maguire, an academic, chartered accountant and author of The Price of Football, said:  ‘Clubs get revenue from three primary sources: gate receipts, TV deals, and commercial income. Harrogate’s 2024/25 revenue was around £4 million. They could be looking at a £2.5 million to £2.75 million revenue drop if they are relegated. TV income would take a major hit. Harrogate currently receive £1.2 million to £1.3 million, but would lose Premier League solidarity payments and half their EFL...

Swansea City's recent heavy investment in its playing squad has been laid bare in the club's latest financial accounts. As noted by football finance guru Kieran Maguire, the club's turnover has plummeted from £126.8 m in 2018 to £22.3 m for last season.   It was revealed by filings earlier in the month that the club had posted a loss of £21.6 m for the year ending June 2025 – a record for the football club.   Those figures are also up from the £14.4 m for the previous 12-month period, and are £5.3m ahead of the previous record loss of £16.3 m.    Swansea have not made a profit since 2020. Operational costs have also increased from £47m to £51m, with player wages are up six per cent to £29m. The club also spent more on transfer fees during that time, shelling out £10.7m, a whopping increase of 80 per cent on the previous year, and the highest since the £55.5m spent in 2018. Gross squad costs also edged up by 17 per cent to £19.9m. Profit on player trading fo...