We are back again to that time of the year when money is considered a worthless commodity. Rumours run wild and player’s agents make the most of the commotion. Clubs break the bank and resort to making the biggest transfer yet. Players create situations to extort better wages from their owners and if they are denied, it potentially means a transfer out.
These two months are like a roller coaster for an ardent fan of any club with the uncertainty looming large on which player is likely to leave and who’s coming in. In such a time where cash is flung across borders and seas, we have something called as “Financial Fair Play” to apparently save the day.
Financial Fair Play in a nutshell is about improving the overall financial health of European club football. Today, the sport has evolved into a colossal business. The financial landscape of the sport is transitioning at an alarming rate. At the turn of this century, world class experienced players were bought for £37 million (Luis Figo), and just 17 years since, clubs are paying even more for 16-year-old kids who have barely played enough to even move abroad.
The insane amount of money being thrown around begs the question of whether this sport is heading in the right direction. Major European leagues of Germany, Spain, France, Italy and England have a selected few teams which are blessed to have the backing of some mammoth investors. Sitting in different corners of the globe, we are all attracted to one of these clubs which have bought in talents and fuelled our hunger to see even more of such to be brought in.
The monetary prowess withheld by some of these titans meant that talent could always be bought and bred in their backyard while the cash strapped teams emulate the role of surrogate mother.
Every club nowadays have a wide array of mode of income which can broadly be classified into the four following categories:
- Broadcast: Football can now be viewed at every nook and corner of this earth thanks to television and media corporations. This acts as a platform to attract sponsors, viewers and partners, thereby generating a steady and significant revenue stream.
- Commercial activity: The sale of merchandise such as kits and memorabilia, and sponsorship rights keep providing a steady income, thanks to the loyal fans around the world.
- Match day: This represents the earnings on a certain match-day which would include tickets, hospitality and memberships.
- Player transfers: Money incurred from the sale of a certain player can sometimes be a huge boost to a club’s short term monetary health.
An ideal case of financial fair play would be to provide every team with an identical amount to spend on transfers and salaries. The income from the above-mentioned four modes can then be pumped in to improve infrastructure of the club, the youth academy, well-being of players after they retire, social causes and much more on the lines of humanitarian grounds.
FIFA, the international governing body of football, has 211 association members compared to 193 of the United Nations as of today. This tells you what sort of an impact the language of football has all over the world. Football needs no translation. On account of this sport, wars have been waged and cease fires have been called. This sport has integrated itself with all walks of life.
United Nations allocated a budget of $5.4 Billion for 2016-2017 Biennium. In comparison, the 20 richest clubs have garnered a total revenue worth $8.3 Billion in 2016 alone. Clubs around the world have certainly poured in their wealth to help uplift millions of lives but one can’t help but wonder - if 20 clubs can create that much revenue, then what would happen when the entire fraternity pools in their money for a better cause rather than to bicker about who has the richest player or team in the world.
Players come and go but fans remain loyal to their beloved clubs. Surely, watching Barcelona playing against Real Madrid is a feast where one gets to witness two living legends of football go head to head but is it less enthralling to witness the Milan Derby or the Manchester Derby? Loyal fans will say “Definitely Not”. And what about a fiery Kolkata derby of Mohun Bagan vs East Bengal, in a footballing city far away from the clutches of European footballing hegemony wherein the local lads give their everything to keep the rivalry and passion alive?
True-hearted fans will tell you that such rivalries are on par with the likes of El Clásico. For a passionate fan, the most pleasing thing would be to see one of the local lads come in and perform, to see a young kid growing through ranks and eventually scoring the decisive goal in a derby match. This begs the question of whether it is justified to pay such preposterous amounts on footballers knowing very well that this is indirectly hampering the health of this beautiful game.
More and more people are buying into the exponential increase in the wealth of their beloved club but the pinnacle of pleasure is realised when you see “Class of ’92” being reborn in Manchester, a La Masia legend going on to manage the club to another Champions League victory with a bunch of local graduates, or a modest team such as Leicester City winning the League.
Right now, in a parallel universe, every Premier League club is being given a certain fixed amount to spend on salaries and player transfers. Without certain players being able to dominate the salary takeaway, local lads are being given more importance. Teams are enjoying an equal amount of revenue through the fandom all across the globe, and more legends are being born each day.
There is equal chance for every team to entice a certain legend to join their ranks as parity exists throughout the footballing community. Football has overtaken UN to become the largest body with the sole purpose of entertaining and empowering people all around. Football is plain and pure, let’s try and uphold its sanctity.
