With a massive insolvencycrisis looming for English soccer - among others - we would be very wise totake the trouble to understand exactly what is happening and what can be doneabout it. If we don't, we may lose our professional sports and a whole lot morebesides.
Who is Killing Football?
With a massive insolvency crisis looming for English soccer - among others - wewould be very wise to take the trouble to understand exactly what is happeningand what can be done about it. If we don't, we may lose our professional sportsand a whole lot more besides.
FIFA president Sepp Blatter recently told the Frankfurter Allgemeinenewspaper.that heavily indebted English Premier League clubs could be hardesthit by the global credit crunch,
"Touched by the crisis could above all be English Premier League clubswith investors who today have no more money." he said
English soccer has built up debts of around three billion pounds at alllevels, the English Football accociation reported last year, with nearly athird of that owed by the top four clubs Manchester United, Liverpool, Chelsea and Arsenal.
Now this sound like an almighty foul-up by English soccer and certainly wefans and supporters of soccer have been aware for some time that something isawfully wrong with the money side of the game.
Something is killing football but we can't quite put our finger on what itis. That is because we do not have the whole picture: there is something aboutall this we are not being told.
Therefore, before we start blaming the Football Association, club Boards,owners and so forth for bad financial management, we would be wise to examinethe economic context in which club owners and their boards are seeking tobalance their books, compete, survive and hopefully win a few trophies and tofind out what that "something" is.
The horrible truth of the matter is the whole economic game is rigged sothat escalating debt is virtually unavoidable if you want your club to emergeas top dog.
It is no coincidence that while the "Big Four" English clubsdominate the game nationally and internationally, they are the most heavily indebt.
Similarly, it is no coincidence that the mightiest global corporations, themost successful manufacturing and trading entities with the biggest slice oftheir respective markets, are the most in debt.
Neither is it a coincidence that the most successful nation on Earth, the United States, is the most heavily in debt, withmore debt than the whole Third World combined.Worse, the U.S.has more debt than there are dollars in existence with which to pay it off! TheU.S.can never get out of debt!
This is very odd because one usually considers escalating debt and a chronicinability to earn more than one spends to be the hallmark of failure.
Yet it has become the hallmark of success.
And you will find this phenomenon repeated in almost every field andmarketplace.
There is not room in this short article to explain in full the mechanics ofthe Great Money Hoax, but I can sum up what is happening to our Soccer clubs,businesses and nations by telling you that we are the victims of the biggestscam in history.
That scam concerns that which we refer to as "money." Itintroduces all manner of distortions into economic life and guarantees that themore successful you are, the more debt you will almost inevitably be obliged tocarry.
It is driving our Football clubs deeper and deeper into debt and turningthem into debt-driven acquisitive corporations for whom the love and pleasureof our national sport takes second place to the pursuit of scarce money.
What is it?
If you want to understanding what is killing football, or indeed any majorprofessional sport, if you want to know what can be done to save it, thenplease take the trouble to understand the Great Money Hoax before it is toolate!
