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Wednesday, 10 March 2010

BBC - Phil Minshull's Blog: Who will be Europe's first major football financial failure?‏

As a big football fan, this is of great interest to me.
Then, an article appears in Tribune going on about how terrible it is that these clubs, that were once the bread and butter of the salt of the earth have become the play things of multi-billionaires. Fair enough. But then to hold up Barca and Real Madrid as models of financial competence is the result of poor research on two counts.
Firstly: they do exactly the same as Man United in that they have debt backed against their earning potential.
Second: the reason they have so much money is because they don't share their TV money with anyone else - the result of which is far greater inequality in the Spanish league than in England.

Something certainly does need doing, but I'm buggered if I can work out what

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