Three cheers for the Premier League!
Posted by John Beech on September 21, 2009
Mind you, that is three out of a possible six, for two recent developments…
Certainly two cheers are deserved for the PL’s decision to make a one-off payment to the Conference of £1 million, this being in the context of the Conference’s loss of their Setanta contract for broadcasting rights (1). As the PL’s Richard Scudamore put it “The Conference is an integral part of the football pyramid. It was absolutely the right thing to do.” Spot on! So why my reluctance to give this noble attempt to reduce this financial disparity up and down the pyramid a full-blown three cheers? Well, it represents £50,000 from each of the twenty Premier League clubs – less than one weeks wages for a star striker. I don’t feel then that I am being curmudgeonly in holding back that third cheer – a curmudgeonly approach would be to point out they are collectively in debt to the sum of over £3 million, and shouldn’t sensibly be giving any money away. Perhaps two and a half cheers might be fairer.
Debt, of course, brings me to the even bigger news that the PL is finally taking action to stop their members living on Debt Mountain (2). Last Monday Scudamore announced new financial measures to restrain the wilder excesses of member clubs, the day before UEFA announced action. These PL measures are rather light on detail regarding sanctions, and fail to re-establish HMRC as preferred creditors. Still the PL ‘vows to fight’ UEFA’s curbs on spending powers (3).
I’m afraid I can only raise half a cheer for half-hearted measures introduced unwillingly. In any case, they lock in the inequalities that have grown rapidly since the PL’s formation.