Football's financial winners and losers...

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Football's financial winners and losers...

Postby dutchman » Sun Feb 14, 2010 8:07 pm

Thanks to "Ben1984" for the original link.

Crystal Palace is one club which lost the gamble. It dropped out of the Premier League in 2005.

After several unsuccessful attempts to get back up, it went into administration in January with debts of £30m.

Three years ago, Coventry City narrowly avoided a similar fate. Now, it has rejected the big spending approach. Instead, it has gone back to its roots as a community club.

It is building a new fanbase among local schools and businesses, and recruiting cheap young players with plenty of potential.

"We're running the club well", says director Joe Elliott. "As far as we're concerned, going out and paying £5m-£10m for a new player just isn't on.

"The ambition is still there, but if we're going to do this, we'll do it in a way that isn't going to jeopardise the future of the club".

'Regulation'

Analysts say other clubs need to follow Coventry's example, as part of a far reaching overhaul of football finance.

"At the moment, we're on a downward spiral, and more clubs will potentially go to the wall very soon." says Professor Simon Chadwick, a sports business expert at Coventry University.

"We have to think of ways of protecting them, perhaps through regulation. But it has to be a consensual approach."

"And clubs need to think very carefully about their salary structures, bringing players through a well designed youth system, rather than simply buying them, for example".

:bbc_news:


Read the full article here: http://news.bbc.co.uk/1/hi/business/8506885.stm
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