An English football club is now the must-have accessory for discriminating billionaires from all around the world – but does this trend make any financial sense? David Wangerin wonders if there is enough cash – and enough optimistic fans to part with it – to sustain the current booming revenues
“As a global brand,” the Independent claimed recently, “the Premiership is becoming sport’s equivalent of Coca-Cola and McDonald’s.” Can this be true? Certainly the success of fizzy-drink manufacturers and fast-food restaurants is not measured by trophies. But as the level of financial interest spreads across the globe, the league’s international reach seems to be rapidly approaching that of the junk-food leviathans. Curiously, much of this interest has not originated in traditional footballing strongholds, but in the game’s equivalent of the emerging markets – and America in particular.