Action Replay – Downhill journey
Participatory sport is about enjoyment and exercise, but the professional version is about financial achievement and the glory of winning. The other side of success is of course failure, and there has been quite a lot of, not just not succeeding, but actually failing in recent weeks.
Leicester City won football’s Premier League in 2016 and the FA Cup in 2021, but they have just been relegated to League One, the third tier of English football. Frequent changes of manager have not helped (a common occurrence in such cases), nor has the death of owner Vichai Srivaddhanaprabha in a helicopter accident two years ago. The club has been losing money, and relegation is likely to exacerbate this.
Chelsea won last year’s Club World Cup, but lost six consecutive league games and are unlikely to qualify for next season’s Champions League. Their last manager lasted just 23 matches, after being given a six-year contract. Large transfer payments and UEFA financial regulations mean they will have trouble improving their squad of players. Supporters have questioned the competence and commitment of the owners.
Burnley have been relegated to the Championship after just one season in the Premier League. Loans to buy players have created further financial problems, and again the company that owns the club has become unpopular and seems to have little idea of how to turn things round.
It’s not just football. In cricket Middlesex have been embroiled in problems, including legal disputes with previous bosses and, again, several coaches in a season. They won the County Championship most recently in 2016, when they were unbeaten. They are now in the second division, and a group of former players have stated that the club is ‘drifting towards irrelevance’.
Sussex are also having difficulties. They overestimated potential income, and were deducted twelve points in this season’s Championship. With many players likely to leave at the end of the season, their future success is in doubt. Not being in the Hundred competition considerably reduces their income.
In golf, Saudi Arabia will withdraw their funding for the LIV tournaments next season, which means that LIV will be scrambling around looking for potential investors. The sizeable financial losses involved may make this hard, though. It was all sportswashing, of course, but this has not exactly worked out.
You do sometimes wonder how the capitalists that own and control big sporting organisations and so often run them into the ground have managed to make billions from other companies they own. Maybe sport is just even more unpredictable than ‘ordinary’ capitalist markets.
PB