Football in the recession

June 21, 2009

hammer_to_piggy_bankAny regular followers of this blog will know that updates have been few and far between since May. As the football season has reached its dramatic climax and the transfer window has reopened, the world of work has come under an enormous and ever increasing amount of pressure from the recession. My day job is looking after the marketing for a company called FreshMinds, and our recruitment arm has been at the coal face of the heavy hit job market. So there’s been plenty in the office to keep me busy.

Why then, you might ask, is the transfer market still so robust? While there are announcements of mass redundancies, record levels of unemployment and fewer opportunities for 20-something graduates, the likes Kaká, Cristiano Ronaldo and even Gareth Barry can expect enormous pay rises and staggering signing on fees for their respective transfers to Real Madrid and Manchester City. “Vulgar” – that’s how England and Manchester United legend Sir Bobby Charlton has described Ronaldo’s £80 million transfer fee. And in the context of the wider economy, that’s exactly how the summer silly season feels.

Of course, there are good reasons for this almost counter-cyclical reaction to the recession in football. Firstly, the financial clout of clubs like Manchester City, Chelsea and now even Sunderland is funded through the personal wealth of just one individual. Yes, Roman Abramovich has seen his fortune hit to the tune of more than three billion pounds. But he still has an estimated £7.7 billion – or enough to buy 96 Cristiano Ronaldos or 642 Gareth Barrys. Now Real Madrid is a different kettle of fish, because the Spanish club is built around a membership model with the president (the closest equivalent to an owner) elected by the fans. So the cash for Kaká and Ronaldo has not come from Florentino Pérez‘s back pocket. Indeed, the source of their new found wealth isn’t entirely clear. However, it’s probably safe to assume that it’s derived from a mix of leveraged debt, government backing and Pérez’s promise of an epic volume of shirt sales.

We are also very lucky in this country to have fans who value the sport so highly that they are willing to sacrifice a great deal else in order to support their teams in the Premiership, Championship and league. Even in the midst of the deepest recession since the Second World War, preliminary sales of season tickets have remained pretty healthy, while the top Premier League teams can expect sell outs at the vast majority of their games. As a result, these clubs are able to generate a huge regular income to entice new players and pay the existing ones. What’s more, they are also able to attract wealthy backers (queue Abramovich, the Glazer family and Ellis Short) as going financial concerns.

Admittedly, there are signs that the good times are coming to an end. Setanta‘s failure to pay the Premier League for television rights is an indication that the appetite to watch football is no longer enough to sustain a business. Then there’s the plights of Southampton, Leeds United and notably Luton. Leeds are an interesting example, not least because they suffered their darkest days during the height of the boom – perhaps a better example of financial mismanagement than a victim of the credit crunch. Newcastle take note. But for every Man City or Real Madrid out there, it is worth bearing in mind there’s probably also a clutch of smaller football clubs on the edge. With less of their games on show after the near collapse of Setanta, and fewer opportunities for young British footballers, the true impact of the recession is likely to be felt much more in the grass roots of the game than at football’s top table.

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Playing Cech up

March 5, 2009

t1_cech_all1Apparently Chelsea have identified lack of competition for the No 1 jersey as the main reason behind Petr Čech‘s alarming drop in form. Some reports have even suggested that the club are considering selling the Czech international in the summer. Any suggestion that the former Golden Gloves winner might move on is probably just making mountains over molehills, but without a doubt Carlo Cudicini‘s exit to Tottenham in January has left a gapping whole on Chelsea‘s team sheet – one that even the sprawling figure of Hilário can’t fill.

But just who is up to the task of taking on the Euro 2004 semi-finalist? Well, looking within the Premiership, there are a couple of first-class goalkeepers warming the substitutes bench at Manchester City and Sunderland. Joe Hart and Craig Gordon are arguably the two most promising young goalkeepers in Britain. Both are extraordinary, athletic players who have been frustrated at club level by the call for experience over promise – which is doing neither of their international careers any good. Whether they would have any better chance of making the first team deputising for Čech is another question. And neither Hart or Gordon fits the profile of Chelsea‘s usual, continental and glamorous headline signings.

Looking further afield, Chelsea‘s new manager Guus Hiddink could do worse than fast-tracking the career of his young ward in the Russia set-up, Igor Akinfeev. Aged just 22, Akinfeev has already notched up 29 caps and 136 appearances for his club CSKA Moscow. He was the youngest ever footballer to play in goal for Russia at the tender age of 18, and has a record of success at the highest level – he played in Euro 2008 and at one stage went 362 minutes in the Champions League without conceding a goal. Taking Hiddink a little out of his comfort zone, Hugo Lloris has excelled since moving to French champions Olympique Lyonnais in the summer and has since broken into the national team under Raymond Domenech. Another of the finest prospects in European football, Lloris was born eight months after Akinfeev and cost Lyon a cool €8.5 million – but Chelsea would have little trouble doubling up on that fee to bring the Frenchman to Stamford Bridge.

Of course there are cheaper options. It feels like half of the Premiership have been circling Espanyol‘s Cameroonian keeper Carlos Idriss Kameni, while Olympique de Marseille‘s Steve Mandanda would come with a lower price tag than compatriot Lloris. Whoever comes in, it’s worth remembering that when Čech came in he was by no means considered first choice ahead of Cudicini. And if the popular Italian (at one stage he was tipped for a call-up to the English national team) could lose his place so easily, perhaps Čech isn’t the “untouchable” he was under José Mourinho.

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