Sepp Blatter: WHAT?!?! Our Money Farm is Barren?

Ooops.  Somone’s golden cash cow seems to be hitting a dry spell.

News emerged today that UEFA’s top clubs accounted for losses of over 1.6 billion in Fiscal 2010; as the report in today’s Washington Post further asserts, accounts for 650 European Clubs revealed losses nearing 56 percent of revenue.  Coincidentally, this was the last year before UEFA began monitoring via the Financial Fair Play regulations, so it’s also entirely possible that clubs were getting in one last year of spending to maybe make a run at the Chaaaaaampions League and increase their potential turnover.

"Please don't take my cash cow away!" (credit: The Guardian)

Then again, it’s not as if FFP implementation stopped clubs from spending, either; the EPL, for example, saw transfer fee spending up 33 percent to 485 million GBP this past Summer. And Manchester City created its famous stadium sponsorship dodge specifically to circumvent these rules.  Add in other clubs like PSG and Queens Park Rangers recently getting on board the rich owner gravy train, and it’s looking like, as some have already surmised, “Fair Play” will just enable the rich to get richer, especially as owners leverage their club’s debt so as to set up a golden parachute for when they grow bored of their new toy.

"Football Club?"- Roman Abramovich, from the sun deck. (credit: Huffington Post)

This also doesn’t bode well for UEFA President Michel Platini, recently all but named as successor to the FIFA Presidency by sitting President, Technologist and Women’s Football Enthusiast Sepp Blatter, as it shows the once enviably profitable UEFA on a slippery financial slope.  Bear in mind also that it was Platini who pushed so hard for such a toothless set of regulations in the first place.


10 responses to “Sepp Blatter: WHAT?!?! Our Money Farm is Barren?

  1. @Lorber: Boat’s in the water. Sepp’s in the water; our Sepp.

    @TFA: True, but CHAAAAAAAAAMPIONS and the Euro aren’t far behind.

  2. @Keith: I may be wrong, but those are UEFA’s cash cows (properties) not FIFA’s. I don’t know if FIFA gets a cut of those or not, but I am leaning towards not or at least a very small cut.

  3. FIFA gets a cut of everything. That’s how cartels work. But @TFA is probably right that it’s small in this case and that UEFA may not be the cash cow. The real cash cow is sponsorships for the WC, and that’s why FIFA are pissing all over Brasil and PoccR to sell America’s (Belgium’s) Finest, Budweiser at the WC. No Bud, no $$$. No $$$, no embezzling millions to your Swiss hideouts.

  4. Agreed with Gunner on the cartel part, plus the fact that the big 4 in UEFA kinda showcase most of the headlining players who will be playing in the DubCee

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s