Word: soccering
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...projected revenues forced an emergency sell-off of star players, but that failed to avert a financial collapse, and the once mighty Leeds United now languishes in England's third-tier league. Just as wealth and success on the field go hand in hand in today's pro soccer, so can disaster on the field bring disaster at the bank...
...Europe's soccer clubs have three main sources of revenue...
...global reach of European, and particularly English, soccer has attracted two types of investors - entrepreneurs such as the Americans Malcolm Glazer (who owns Manchester United), Tom Hicks and George Gillet (who jointly own Liverpool) and Randy Lerner (Aston Villa); and billionaire prestige investors such as the Russian oligarch Roman Abramovich, who has invested more than $1 billion in Chelsea, and former Thai Prime Minister Thaksin Shinawatra, who last year acquired Manchester City. Chelsea, with its 42,000-seat stadium, might be considered an underperforming asset from a strictly business point of view; its revenues in the years since Abramovich took...
...however, in a system in which money builds success and success brings in more money, Europe's richest soccer clubs are probably going to get richer while the rest will struggle to keep pace...
...Soccer's inflationary economics is simply good business in the current market - the real estate experience reminds us that bubble-economy behavior is perfectly rational until the bubble bursts. But there are certainly risks. The current combined debt load of the English Premiership clubs is about $12 billion ($3 billion owed by Chelsea and Manchester United alone). Figures for the 2006-2007 season put the league's annual wage bill at about $3 billion and its total revenues a little over $3.8 billion, with only eight of the Premiership's 20 clubs reporting an operating profit. Revenues have increased, thanks...