'Euro soccer league in 98'
Sunday 10 August 1997
Mr Fraher, who raised pounds 33m earlier this year to invest in soccer clubs, reckons the league would generate a fortune from pay-per-view television. "Nothing is going to stop the move to football on a European basis," he said.
Clubs such as Manchester United and Tottenham Hotspur, which are quoted on the London Stock Exchange, are likely to be included in any European league and would see their shares boosted accordingly.
The super league is a long-held dream of European soccer bosses such as AC Milan's Silvio Berlusconi, the former Italian prime minister, and Real Madrid's Lorenzo Sanz. But it would be bitterly opposed by the bulk of teams that would be excluded. It could be 15 years before the creation of a European league, said Nigel Hawkins, an analyst at Yamaichi International.
A second-tier of listed clubs would survive in a domestic league, kept afloat by revenue from domestic terrestrial television agreements, Mr Fraher said. This would include the rest of the 20 teams in the premiership, as well as First Division clubs such as Birmingham City, Sheffield United and West Bromwich Albion, all traded on the London Stock Exchange.
The growing inequality in English football is reflected in stocks. Shares in Premier League champions Manchester United have leapt 47 per cent in the last 12 months, while shares in Sunderland, relegated from the Premier League to Division One last season, have slumped 54 per cent since they started trading in December.
There are currently 18 British clubs traded on the London Stock Exchange, with Bloomberg's Kick Index up 23 per cent to 271.23 in the last 12 months, after falling back from a high of 352.51 on 5 February.
The increasingly high profile of the top clubs will make them takeover targets for large corporations. Mr Fraher sees media companies such as Granada Group taking over Manchester United, or Carlton Communications bidding for London's Chelsea.
- 1 Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
- 2 'Do not give them a reason': Baltimore man divides police and rioters in hope of avoiding violence
- 3 X Factor in crisis as numbers of people auditioning plummets
- 4 Baltimore riots: Furious mother marches her son home live on TV
- 5 General Election 2015: Stephen Hawking says he will vote Labour
General Election 2015: Tories sack candidate who said she would never support 'the Jew' Ed Miliband
Bali Nine executions: Indonesia confirms killings of Andrew Chan and Myuran Sukumaran will go ahead
The four utterly contradictory polls that tell the story of this election and why it is pointless trying to predict the outcome
General Election 2015: Prospect of Labour-SNP coalition makes one in four voters less likely to support Ed Miliband, says survey
Baltimore riots: Furious mother marches her son home live on TV
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
EU exit would hit UK economy much harder than neighbouring countries, study finds
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
iJobs Money & Business
£Basic (OTE) + Uncapped Commission: Guru Careers: A Stockbroker (qualified / p...
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...