The Political Economy of Football V2

Burnley’s return to the Premier League last season saw losses reduce, though the club would have posted a record deficit were it not for £38.8million ($52.3m) in damages received from the club’s successful lawsuit against Everton for rule breaches in 2021-22. Bank debt, first loaded onto Burnley by a leveraged buyout in December 2020, fell by a third on the back of the club’s ownership group providing almost £80m in funds. Such debt of £70million at the end of July 2026 was higher than the day of that takeover, though borrowings due to be repaid within one year reduced from £67.5m then to £45.9m by the beginning of this week. Whether it means Burnley’s overall debt has reduced by over £20m since the summer or there is further bank debt still due but over a longer term is unclear; at the time of publication, a spokesperson for the club’s ownership group had not responded to a request from The Athletic for an up-to-date figure for Burnley’s total bank debt. Either way, pressingly,...

In his Zurich fastness the Swiss Ramble has been diving down into his data base to produce fascinating statistics on Premier League and Championship finances.  Much more on his Substack page. In any statistical analysis ‘outliers’ that break the general pattern are always interesting and here that crown goes to Chelsea.   Whether all the money spent has paid off on the pitch is a moot point. The main source of cash is obviously revenue, though the difference between the Premier League and the Championship is stark. For example, in 2024/25 the £6.9 bln revenue in the top flight was more than seven times as much as the Championship’s £929m. One driver of investment in Premier League clubs is the very impressive revenue growth, especially compared to leagues in other countries. This has shot up by nearly a third (£7.1 bn) in the last 5 years, comparing £29.8 bn to the £22.7 bn in the preceding 5-year period.   The Championship has also grown in this time, but at a much...

Oh, to be a sports lawyer now that autumn is here.   I hadn't expected to report on a second football law suit today. The Forest Green Rovers owner, Dale Vince, is to sue Peterborough United for £2m over their controversial hiring of his former manager Robbie Savage.   It is the latest escalation in the row that followed the former Wales international’s switch from the National League club to the League One side at the start of the month. Vince and the Peterborough chairman, Darragh MacAnthony, have been involved in a war of words since, with Forest Green accusing the EFL club of an illegal approach — “tapping up” — of Savage. Peterborough deny those allegations. Now Vince has confirmed on his personal social media channel that he has launched legal action for compensation of £2m.   “We have begun a legal process for the tapping up of our manager — our ex-manager now — Robbie Savage,” Vince said. “It’s hassle that we didn’t want, but what are you going to do?” ...

We live in a litigious age and sports lawyers are increasingly becoming prominent in the game.  A recent Private Eye cartoon displayed well-nourished lawyers running round with briefcases and wearing Manchester City shirts. However, defamation actions are still relatively rare, although not unknown   For example, note the recent claim launched by West Ham's David Sullivan against the BBC:  https://www.skysports.com/football/news/13594030/david-sullivan-west-ham-co-owner-suing-the-bbc-in-lb150m-defamation-claim-over-panorama-documentary Aston Villa have announced plans to initiate legal action against Jamie Carragher for his “unacceptable insults” about the club.  Villa released a statement signed off by chairman Nassef Sawiris outlining their intentions on Friday after incendiary comments from the Sky Sports pundit earlier this week. “Aston Villa will initiate legal action against Jamie Carragher for his unacceptable insults about the club and its fans,” it re...

For years, CFG has been viewed as the gold standard for multi-club networks. It still is, having housed so many of the game’s top executives along the way.  While City dominated English football and clubs around the world came scavenging for their staff, it carried that tag unabashed. But after the judgment delivered by the independent commission that deemed City’s success was partly built on inflated revenue from “sham” commercial contracts to the tune of over £900million ($1.19bn), what does the future hold for the rest of the group? Manchester City’s on-pitch success has been the veneer behind which CFG has existed. The leaders at the Premier League outfit, namely chairman Khaldoon Al Mubarak and chief executive Soriano, have been effective at presenting City as a well-run, profitable club. They recorded four profitable years in five between 2019 and 2023, and their player trading, particularly the conveyor belt of academy talent, has been the envy of many teams. City acco...

Inter and Milan hope to move into their new home in 2031-32. It will be built on the same footprint for an estimated €2billion ($2.24bn) and carry the name of Italian insurance giant Generali, who have agreed to a record naming rights deal worth £650m over 20 years. Change is going to come. This is different from the projects that have come and gone before. It will not go the way of Barbara Berlusconi’s plan to build Milan their own stadium in the Portello neighbourhood of the city in 2015. Nor will it be held up as The Cathedral was by Covid-19, lockdowns, local elections in Milan and Suning, Inter’s former owners, being on the brink of a bankruptcy that was formally declared earlier this year. Make no mistake — this is happening. A year ago, Milan city hall approved the sale of the publicly owned San Siro to Milan and Inter for around €200m. There were five appeals to block it, all dismissed by the regional administrative court, and threats by political party the Greens to collap...