Thursday, December 18, 2008

Credit Crunch To Topple Sports!

There is a lot of money in modern day sports. The stakes are so high that it is becoming common for sportsmen to cheat by way of taking performance enhancing stimulants. However sports don't exist in a bubble as the global credit crunch starts to burst them. Motorsports are still reeling from Honda's pullout from F1 and Subaru's timeout from World Rally.

In football scene, there was a comment by Wenger, the French gaffer of Arsenal FC. "..the current financial climate will change the attitude of many clubs. I come from a little village of farmers where I was educated that when you earn £100 you do not spend £100. For me when you earn £100 and you spend £110 it is like cheating. A club must live within their own resources, not artificially supported.

The economic crisis will force many clubs to rethink the way they are run. It seems too many believe football exists in a bubble, away from the financial crisis! Football depends heavily on the financial markets, sponsorship and television rights, all of which are suffering right now."

This musketeer is well educated by his folks. Perhaps he was a financial guru in his previous life before professional football era! Live within own means! So unlike his London neighbour, a certain Russian who could be suffering right now!

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