An overview of the best passers in the Premier League for Gameweek 5.
Chelsea continue their dominance of the passing tables, Ashley Cole improves again but has his No.1 spot taken by table newcomer Daniel Gabbidon. Ramires and Salomon Kalou jumps to the top of the midfielder and forward tables respectively after their starts last week, and there is a new worst passer award to hand out!
West Ham have received an extension on their debt repayments till Sept 2010 according to reports on the weekend. It is good news for the relegation threatened club as it is a 9 month reprieve they can use to stabilize ownership in the club and in the league.
I don’t think it is a coincidence that this agreement with Straumur-Burdaras Investment Bank, current interim owner of the club, comes on the tails of a £42m bid for the club from David Gold and David Sullivan. In fact I wouldn’t be surprised if the bank was waiting for such an indication of interest before agreeing to the delay of the repayment. With what, at this point, seems like a somewhat rich bid coming in for the club the creditors probably smell more money in the air and are hoping for a rival buyer to step in.
I am not completely sure what West Ham’s financial situation (specifically in terms of debt) will be like after the bank sells them on. When I can find information about the workout the bank is agreeing to I will do a posting about it.
I am always astounded by some of the figures thrown around in the Football industry. It never made sense to me how clubs could pay
blockbuster transfer fees, pay oversize wages and still make as much money as everyone thinks. Favorite Portuguese boo-boy Cristiano Ronaldo is reported to currently be earning £183,000 a week
at Real Madrid with the figure eventually rising to £556,000 a week (!!!) by the end of his contract.
But do big paydays for stars result in big paydays for football owners? A quick, unscientific look at the data for the current grouping of Premier League teams.
As you can see profitable clubs are in the minority even in the Premier League.
17 of the 20 clubs are unprofitable with an accumulated deficit over the past 17 seasons.
15 of the 20 clubs have an accumulated deficit of £15m (!) or more
The 3 most profitable clubs also have the lowest wage/turnover ratios with the exception of Arsenal which ranks 4th behind Aston Villa. (this might actually be due to incorrect/misleading data)
Wigan, Chelsea, and Portsmouth have the highest wage/turnover ratios; 89.5, 84.5, and 77.6 respectively
Man United has been profitable for 15 of the past 17 seasons
Fulham has been profitable for 1 of the past 17 seasons
It is even hard to argue that the deficit belongs to recently promoted clubs or that Premier League survival brings financial stability. If we only keep clubs who have had at least a 5-year tenure in the top flight the numbers improve only marginally.
The main lesson? Unless you’re a footballer, a footballer’s agent, a footballer’s wife, Arsenal or Man United, you’re not making a lot of money in Football.
Some info about the data I used. Data was supplied by the wonderful website The Political Economy of Football. The time period sampled was from the 1991/92 – 2007/08 season, not all clubs have complete datasets within this period as some were not in the Premier League, however the missing data is not substantial enough to throw off the general trend. I plan to do a more in-depth analysis in a future post, on the relationship between wages and a club’s financial stability.
Next time on “Show Me The Money!”: Digging into Serie A.