Outlook: Strictly a game for mugs
Friday 07 August 1998
A dozen clubs have floated on the stock market over the past 18 months, but they have been in a bear market for all that period. Only a handful have bucked the trend - Manchester United, with its amazing success on the field and grip on costs, Charlton, which achieved a surprise promotion to the Premier League, and Sunderland, which seems set to follow. The rest have crashed ominously in price.
It is not surprising when you look at Deloitte Touche's Annual Review of Football Finance. It shows that in1996-97 English Football Inc enjoyed revenue of pounds 676m, up from pounds 517m. But players' earnings and transfer fees took most of it. The net result was losses of pounds 42.7m, down from pounds 98m previously.
Out of 92 clubs in four leagues only 29 made any profits and Manchester, with a sparkling pounds 27.5m earnings, is way out in front. The Big Five, Manchester, Newcastle, Blackburn, Liverpool and Tottenham, make more profit than all the rest put together. But they cannot stay on top for ever and Deloitte Touche believes10-20 clubs are in danger. It sees mergers and partnerships as ways for clubs to survive and prosper.
Football may be a game of two halves but in the end there can be only one winner. That makes it unlike any other sector of the market. Small investors should leave the field to those with deeper pockets.
- 1 Pope Francis issues top 10 tips for happiness
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 5 Israel's propaganda machine is finally starting to misfire
Russell Brand accuses Sean Hannity of terrorism after aggressive Israel-Gaza debate
Pope Francis issues top 10 tips for happiness
Justin Bieber posts Instagram photo of a crying Orlando Bloom after Ibiza fight 'over Miranda Kerr'
Disney heiress Abigail disowns her share of family profits in West Bank company
Air Algerie AH5017 crash: Jet fell 30,000 feet in three minutes ‘due to violent storm’
The secret report that helps Israel hide facts
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£28000 - £32000 per annum + benefits: Ashdown Group: Training Programme Manage...
£20000 - £24000 per annum: Harrington Starr: A leading provider of web based m...
£28000 - £32000 per annum: Ashdown Group: Secretary (Sales Team Support) - Mat...
Competitive (DOE): Guru Careers: We are looking for an Assistant Management Ac...