time last year fans of Chelsea football club were on the streets protesting against the European Super League, a ham-fisted attempt by the owners of Europe’s richest teams to usurp the sport’s existing competitions for financial gain. It was a rare success for the lowly supporter: Roman Abramovich, the Russian oligarch who owns Chelsea, backed down. Other clubs also rapidly retreated, and the plan collapsed spectacularly within 48 hours.
One of them, by a consortium led by the Ricketts family, has met particular resistance from some fans. Many are unhappy with the Americans’ politics and views. The Rickettses are regular contributors to the Republican Party and, more worrying for some Chelsea supporters, Islamophobic emails sent by Joe Ricketts, the head of the family, surfaced last month.
The ownership of English football clubs used to be far less contentious. The Football Association , the game’s national governing body, prevented owners from taking money out of clubs and limited dividend payments. Consequently, owners, usually local businessmen, though sometimes colourful characters, were little more than custodians. But many were custodians with tight fists, reluctant to invest.
Another type of owner sees football as a financial investment, pure and simple. In 2005 the Glazers, another wealthy American family already in the sports business back home and looking to get wealthier, bought Manchester United. They financed the purchase with debt, which they plonked on United’s balance-sheet. Fans have grumbled ever since; and United’s run of success has lately dried up. Other forms of private equity are wading in too.
Supporters and no one else
The players?
Its fans. Learn from the Green Bay Packers.
See Green Bay Packers.
each club ownership could be its own crypto traded freely for all to fractionally own
The fans.
Guys rate my nude photos)
Oh, come on! The answer is easy! Anyone who wants to own! And multiple levels of ownership! Anyone who goes to a game gets some ownership! So the fans are right; ownership is with them! Flaws in ownership are almost always in the background! The Economist is nit picking!
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