Notyalcsdrawkcab’s Weblog

June 10, 2009

not much chop …

Filed under: Football — notyalcsdrawkcab @ 4:30 am

i saw an article about how liverpool fc is in a spot of bother, as their owners bought them with loans that they are now struggling to pay back.

the thing that caught my eye was that liverpool would have made a profit of 10 million pounds or so, but this was then cancelled out by 30 million pounds of debt repayment.  or something like that.

10 million pounds?  one of the biggest clubs in the world?  doesn`t seem much chop in the big scheme of things.

i think it was a guardian article.

i followed that up with a look at forbes rich list

liverpool fc, valued at 1 billion us – operating profits of 50 mil us, debts of about 600 mil us …

these millionaire owners aren`t getting into football only for the money, surely? there are better ways to earn money out there.

lil old telstra can make a 3 bil aus profit.  a lil telco in lil australia.  lil old coles can earn a 1 bil aus profit.  what must a euro telco pull in?  or a big british supermarket?  my guess is much much more.  didn`t one of our former leaders say we were the arse end of the world?  wasn`t he right? in a way.

i saw points like these touched upon in a john nicholson column at football365, but i think the ideas are worth mulling over.

football`s cultural cachet far outweighs its economic power.  the big fish of football are not big fish at the stock exchange.  and thats not a bad thing.

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