Monday 29 March 2010

A Red revolution for football? Yeah Right...

The desperation of the Labour party to be re-electd can be seen in its attempts to garner populist support in its election manifesto.

One such leak is the idea of fnas being able to buy their own football clubs. As followers of Ebbsfleet will know, this is not a guaranteed way to success; they are fighting relegation.

Moreover, the idea of encouraging fans who by definition are not rich, to enter inot a world where they need to compete with the largesse encouraged by Roman Abramovich and Sheik Al-Mansour is utter madness.

Much like the earlier idea of Football clubs as Plc's - an idea that allowed the City to part unwary fans from their cash, this is in reality another scam in the making for the canny to take cash of the foolish.

How the Government can try and sell this idea as somehow being a solution to the current problems in football is beyond me. If it were a less popular industry the idea of a super-tax on players earnings would have been implemented by now. But no, this is the people's game, it is they who must suffer.

As readers will know, there is much wrong with the structure of football - mainly this is the problem of large external cash inputs being direted willy nilly and a refusal of the top clusb to engage in any revenue sharing.

None of the Labour party's recommendations do anything about that, but then that is not the point of this commitment; which is pure political grandstanding.

7 comments:

Laban said...

I put together a few thoughts on why football isn't a business a while back, in the days when Magnier and McManus were giving Fergie a hard time.

Marchamont Needham said...

Ken Bates must be licking his lips at the prospect - it'd be virgins to the slaughter!

Penalty Area said...

Fit and proper persons??
Yeah right!

Laban said...

Totally off topic, but what's all this about 10 year swap spreads ? All I can gather is that it's now slightly cheaper, both in the UK and US, for top-rated companies to borrow (by issuing bonds) than it is for their respective governments to borrow the same way. What does this imply, both in terms of market sentiment and investing practice ?

Letters From A Tory said...

With all due respect, I'm not sure every football fan has the necessary intellect to understand the implication of this!

CityUnslicker said...

Laban - a good article here

http://www.telegraph.co.uk/finance/economics/7533014/Sell-off-in-US-Treasuries-raises-sovereign-debt-fears.html

Elby the Beserk said...

Excellent article here - http://www.businessandpolitics.org/?p=2144 - on this, and how it is a perfect symbol of how appalling Labour are.