The economics of top-flight soccer were ridiculous before a ruling family of the United Arab Emirates bought Manchester City as a national marketing prop, but it helped turn them preposterous
And now people are angry?
Imagine this sort of fun spun out in dozens of different ways. In another instance, the agent for a top player was put on a $7-million annual salary. For what? For whatever. For picking up the phone when City called, I guess. It’s the good work City has done on behalf of its owners. Fifteen years ago, most people would never have heard of the United Arab Emirates, and many fewer than that would be able to find it on a map. Now that tiny Gulf state is famous for bank-rolling the most ambitiously profligate sports franchise in the world.
The Qataris liked the look of City so much that they decided to buy Paris Saint-Germain. PSG is a strangely unpopular club that has one attraction – Paris. The owners are now at war with that city over their stadium. They want to buy it. Paris would rather they just fix it up and let Paris continue to own it. Guess who’s going to win that one?
It no longer seems weird that Chelsea would go out in the winter transfer window and pay a British record $175-million on a player no one knew before November’s World Cup , and another $140-million on a guy who had one great night in the Champions League . These aren’t investments. They are straight-up gambles. Speaking strictly financially, they make little sense.
Every time you look up, Italy’s top team, Juventus, is under investigation. It is under investigation right now. It’s all part of the Mediterranean fun.The good news for City is that there is no punishment that could be inflicted on them that has lasting consequences. At worst, it could be busted down a full division.
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