The Political Economy of Football V2

The Club World Cup has generated little excitement in the UK and although I watched some of the games on 5, others do not appear to have been broadcast (ok, one can go to DAZN.com).  Financially, it's case of to those that hath shall be given in large part. A look at the prize money leaders throws up some familiar (some might say obvious) names. Sitting at the top are Manchester City, the only club to exceed $50m so far. Behind them are some of the wealthiest clubs in world football: Real Madrid, Bayern Munich, Paris Saint-Germain, and on it goes. Regardless of the order, it’s fairly clear European sides will be taking home most of the spoils. The top eight prize money spots are occupied by European clubs and of the $741m allocated, $424.5m (57 per cent) has gone to UEFA clubs. On average, the 12 competing clubs from football’s richest continent have earned $35.4m apiece this summer.   The distribution of participation fees ensured Europe’s clubs would always get the bigge...

After Brazilian football team Botafogo clinched a sensational league and cup double at the end of last season, its owner John Textor didn’t waste an opportunity to troll his naysayers.  On social media the US businessman and serial soccer investor posted a photo of himself kissing the Copa Libertadores trophy, alongside a WhatsApp message from a detractor. “You don’t understand anything in football and [sic] waste of time to talk to you. And you will lose everywhere you go,” it read.  Tagged in the screenshot was Paris Saint-Germain, whose Qatari president Nasser Al-Khelaifi has clashed with Textor, who is also the owner of Olympique Lyonnais in France and no stranger to public dust-ups.  Yet Botafogo’s success, less than three years since being rescued from financial ruin by its American benefactor, was more than just a personal triumph for Textor. It also provided a showcase for the wave of recent investments into Brazilian football, which has attra...