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Football, Finance and the Future: A Bubble About to Burst?

The transfer of Rio Ferdinand from West Ham United to Leeds United in December 2000, for a British record fee of £18 million, took place against the background of a game in apparent good health: top players can earn between £20 000 and £50 000 per week; the Premiership has a turnover of £169 million more than its nearest rival - Serie A in Italy; and the TV deal signed by the top clubs in Summer 2000 is worth an unprecedented £1.6 billion over three years. Despite these rosy outward signs, though, all may not be well in the English game.

Football's fine - Leave well alone!

The game's dying for all but the biggest clubs

	What a life - to be a pro footballer! I had trials for Accrington Stanley once, you know?
			They all say that! Those prima donnas - they should try earning a living. I mean, £18 million for an untried youngster - it's obscene!
	Maybe, but it shows the strength of our game right now.
			It shows the strength of the TV companies more like.

How has top flight football become big business?

	Without the Sky money, the game would be much worse off at all levels.
			But most of the TV money goes from the Premiership direct to foreign clubs and players in the form of transfers and wages; leaving smaller English clubs worse off.

Higher revenues - Do they stay in the game?

	There you go! I said Sky money was helping the game.
			Just because top clubs spent more on bringing in Nationwide players last year, doesn't mean more players came into the Premiership from the Nationwide.
	Why not?

Spending on non-Premiership players - too much money chasing too few footballers?

	So, sort out the Premiership and all's cooshty, eh?
			Not so fast! A similar thing's going on in the Nationwide now.

Is the inflationary-spiral about to affect the Football League?

	OK. So we need to change the current crazy transfer market. I thought the EU was seeing to that.
			Yes, but at the risk of alienating the major (in money terms) football nations. But it's not just about transfers, it's also about wages paid to these mercenaries by the clubs.

Wage inflation in professional football in England

	You can't blame the players for looking for more money.
			I suppose not, but why do the clubs have to agree to pay them so much? I mean most people earn less in a year than these players earn in a week.
	Well, the lower league clubs are all looking for one thing - the big payday they'll get if they make it to the Premiership.
			That's true, but is it really worth it?

The cost/benefit of Premiership status.

	The Premiership sounds a bit like a 'closed shop' to me. Talk about loading the dice in your favour! What chance do the smaller clubs have when the top league tries to look after its own like they do?
			Quite. You'd have needed a good agent if you'd made it at Accrington Stanley, wouldn't you?!