As Mr Comfort always says: Long-winded people are boring, and writing full sentences is for chumps. Instead of writing us a novel, tell us how the worldwide credit crunch will affect the Premier League as a whole going forward. You have just SIX words to make your argument to the COS commentariat. Sound easy? Give it a go.
Being a fan of football, the topic is not an easy topic to discuss; but from the looks of things the worldwide credit crisis seems to finally have found its way into the Premier League. It was reported last year by the accountants at Deloitte, that total borrowings in the League had risen from £674 million in 2005 to £1.6 billion in 2006. That means more clubs are exposed to the risks of the debt markets than ever before. Two of the worst being Manchester United and Liverpool, both of which have owners that aren’t saved by long-term fixed rate deals. While rumours in the transfer market have been swirling around more than ever, we’ve seen a major decline in the number of players actually moving away from their current club.
As Premier League wages burst the £1billion mark for the first time, Peter Hill-Wood, chairman of Arsenal, said the days of easy money had come ‘to a pretty sudden end.’ (ESPN)
Let us know what you think. What kind of an effect will the credit crisis have on the League going forward? Be concise and let us know in SIX words!