Bring the Super League

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The loud protests by the football establishment against the proposed European Super League come as no surprise.

The Premier League, Fifa, UEFA and other objectors have been enjoying the big money for too long and hate the idea of ​​a business challenger breaking the oligopoly.

The existing forces in the game have failed to do enough to tackle inequality, stem the spread of gambling, tackle racism or promote female play and many other things.

A football player on the pitch: Tottenham's Harry Kane, left, takes on Manchester United's Harry Maguire earlier this month.  Both clubs have signed up to join the JP Morgan-backed Super League

© Provided by This Is Money
Tottenham’s Harry Kane, left, takes on Manchester United’s Harry Maguire earlier this month. Both clubs have signed up to join the JP Morgan-backed Super League

It took clubs like Manchester City to elevate women’s football, Chelsea to fight anti-Semitism and the owners of Spurs and Arsenal to risk investing in world-class stadiums.

Greed within the Premier League establishment has never been more evident than in the pandemic. Instead of overpaid players and management making wage sacrifices and giving back to communities, it took an individual player, Marcus Rashford, to take a stand on child poverty.

As for Fifa, nothing is more emblematic of endemic self-interest than the way football has been forced to bend its schedules so that the next World Cup can be held in Qatar.

The idea that the opposition of this seriously untrustworthy organization should be listened to is ludicrous. The clubs that run the breakaway have full rights to make their own business decisions.

All are independent and free to have signed a £ 3.5bn funding deal with JP Morgan Chase. A large part of the experts are far from the target.

The misleading narrative is that only clubs owned by oligarchs like Chelsea are part of the business, while Bayern Munich and other members of the community want nothing to do with it.

In fact, there is a wide variety of ownership models. Juventus and Manchester United are publicly traded companies and everyone has the opportunity to buy shares.

Barcelona have long been applauded for their model of ownership and fan control. Real Madrid are also owned by supporters, although power has shifted to a construction industry mogul.

The £ 3.4bn fee Sky is paying for Premier League rights is already under pressure due to streaming.

The Super League, with up to 20 members, would drain money not only from the UEFA Champions League, but also from domestic leagues.

They could stand up for the public interest better if more of the huge TV money was shared with the lower leagues, football academies and the grassroots rather than spent on salaries of £ 300,000 per week.

A greater choice of TV rights, as well as streaming, should lower the price for viewers and fans. Will small clubs be forever blocked from the top flight?

No, because there will be at least five wild card spots open each season. Bring on the Super League. It could even incorporate American practices where the teams that finish at the bottom get the choice of the best young players.

Capitalism with a human face!

Unarmed son

Oliver Dowden sent the signal for a more robust approach to overseas takeovers. When Arm Holdings was sold to Softbank in 2016, the government was on the dock to say goodbye as the deal rushed as it showed Britain was still open for business on the eve of Brexit.

The Culture Secretary invoked the Companies Act 2002 to ensure that selling gaming chipmaker Nvidia for £ 29bn will not reduce competition in the semiconductor market or allow to digital technology, used for defense, to flee abroad.

The prospect of a lengthy investigation may encourage Nvidia boss Jensen Huang and Softbank boss Masayoshi Son to reconsider the deal.

Preference should be to follow Son’s original procurement plan and list. The temptation would be a Nasdaq float, but I hope Dowden’s intervention reminds Son that Arm is made in Cambridge, that the intellectual property is there, and that an initial public offering would be an adornment for the city.

Air cover

Melrose’s divestiture of Nortek to Chicago-based Madison Industries will allow it to repay debt, keep shareholders happy and bolster GKN pension fund at a time when Covid is a source of stress for the aerospace industry.

Encouraging to see that auto industry branch, electric propulsion systems pioneer GKN Automotive, strengthens global operations by appointing new chairman Shaoling Qui for its Chinese branch.

Undoubtedly part of the improvement process before all of the caboodle, including valuable R&D and technology, is sold.

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About Jimmie T.

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