By Stephen Morrow (auth.)
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Additional info for The New Business of Football: Accountability and Finance in Football
Example text
Notwithstanding the existence of the parachute payments, the opportunity cost of not being in the Premier League is severe given that SO per cent of the television deal is divided equally among the twenty clubs. The 24 The New Business of Football opportunity cost is not, of course, simply lost television income. Other sources of income are also likely to be reduced although there may also be possibilities of reducing expenditure. Szymanski (1998) has attempted to find a systematic way to build all of these issues into an economic model which results in a financial value for divisional status for individual clubs.
On the negative side, it can be argued that such a narrow economic view of football fails to recognise its political and social dimensions (see Chapter 5) and that in fact football has sold out or debased itself through its relationship with television. Evidence of this is found in the everyday concerns of supporters as to the scheduling of matches, last minutes changes of dates and times and the unwillingness or inability of clubs adequately to consider their supporters, to whom they have already sold season tickets.
That opinion was subsequently endorsed by the Court of Justice of the European Communities (CJEC, 1995b) which found that the provision that out-of-contract players could only move between two clubs if compensation was paid to the selling clubs was incompatible with Article 48 of the EC Treaty. Furthermore the restriction on the number of foreign European Union nationals who were permitted to play in competitions organised by national and international sporting associations was also found to be incompatible with Article 48.