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Saturday, October 25, 2008

Economic Recession and English Premier League (EPL)

There is perhaps little doubt that the world economy is gradually going towards a recession. You can argue about the world economy but there is no doubt that British economy is suffering at this moment. In fact, in the last quarter, The British GDP shrank a bit in size and known you see no news is good news for the British economy at this moment. So, there is a lot of fear that English premier league may just start suffering from economic recession.

You have to remember one thing that EPL is not limited to England alone in terms of money. It is extremely popular in many parts of the world including all the Asian countries. In fact, Premier league clubs earn a lot of money from the TV revenue and millions of people in a share and other parts of the world watched many of the matches of English premier league live. So, if the global economy suffers from a recession than it is obvious that some kind of impact will come to England football too.

I feel that it may bring some disastrous consequences for some clubs not only for the premier league but in all levels of English football. In the last few years, football in England has grown its huge growth thanks to television revenue. So, most of the premier league clubs could afford to be a huge amount of money for salary of many players. The combined a ways off the leading clubs Is no perhaps the crossing the billion dollar mark annually. This is perhaps too much and this is not a healthy trend. What I understand is that only arsenal is trying to act in a sensible manner when it comes to players’ wages.

If any recession comes and premier league football suffers from it then the model of Arsene Wenger will perhaps become the most popular one. I think that he’s right and arsenal in immensely benefit from his strategy. Well, a lot of foreign money is coming to EPL these days and it is not a healthy thing.

Unfortunately, Most people feel that in its premier league should be a free market and there should be no control over the clubs or anything. This kind of attitude is not that in normal times but desperate times is perhaps coming very soon. So, I thing that it is the right time to reassess the strategy of spending excessive money in English premier league. I fear that it may do some long-term damage for English football in the long run. That is why, I really wish that all the clubs and their owners stick together and try to find a way out from the upcoming global economic recession.

There is a lot to learn from the way sports is run in USA. USA is the land of free market economy and America is often criticized for this matter. The irony is that there is a lot of control and restriction in USA about spending big amount of money for clubs and buying players. Take the example of national football league or NFL. NFL is a very popular sporting event in USA and it is indeed a billion dollar industry. Despite the fact that the NFL is only limited to USA, When it comes to doing business and earning money NFL can easily compete with English premier league. Still, NFL organizers are very strict about ensuring competition among the clubs by restricting the clubs’ ability to spend big money on buying players and giving wage. I feel that it is the right time for English premier league clubs to learn some lessons from NFL and Agree to some kind of compromise so that all the clubs in England can become profitable and no club in premier league will suffer.

What is your idea about it?

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