Portsmouth go into administration
Further to my post some time ago Portsmouth officially went into administration this afternoon and almost certain relegation. Hopefully you jumped on board following my post a little while ago. One of the lowest risk trades of the season!
While it’s not pleasant to see clubs get into trouble, the economics of football are astonishing. It’s quite amazing to see how poor the economics of most clubs are, but even the top teams are not in a very good shape. LBO’s put a huge burden on clubs and drain resources as people borrow money from the future to pay for success today. The problem is that while money does, generally, buy success. In an effort to keep up new teams join in card game and up the ante. This makes the return on investment and general economics decline overall. It’s not a viable path long term.
I remember watching my local team when I was young and the feeling then was that, on their day, your team could beat anybody. The feeling now is if your team isn’t £10bn in debt then they have no hope of challenging for any honours. I also would see local players on the pitch that had come through the youth system, this fuelled the dream that maybe one day I could be out there as well. I don’t believe that is remotely realistic nowadays. I think both points have taken the soul out of football as a grass roots level, that’s not the best way to encourage future generations.
Will it change? I doubt it!
Category: Using Bet Angel
