BusinessBusiness RecoveryFootball few spoil it for many

Football few spoil it for many

When Jimmy Hill led a successful campaign against the maximum wage for footballers 41 years ago, he could hardly have foreseen the levels of wealth that would be earned by elite players.

Nor could he have predicted that these highest of earners, would one day be in a position to bring down whole teams and turn the financial rescue efforts for stricken clubs on their heads.

But the financial expectations of a handful of players now effectively call the shots when it comes to the economics of the national game.

As rules stand, clubs in administration are obliged to pay off so-called super creditors – players, managers and other clubs – before they make payments even to banks. With the collapse of ITV Digital, over its failure to pay sponsorship in the order of #180m, it has become clear these rules need to be scrapped if clubs are to survive.

Surely, as broadcasting struggles to find a financial model that will square this particular circle, wage expectations need to be revised. Or we are left with a fine example of the few spoiling it for the many – as John Motson might say.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor