The Money Go Round

Huddersfield lost their first choice of manager through it, Arsenal have just had a new investor because of it, West Ham United look to be losing it, Manchester United surprisingly are losing it, and Big Sam Allardyce thinks managers are under even greater threat because of it.

What is it, Yes it's MONEY

Arsene Wenger has warned Stan Kroenke not to sacrifice Arsenal's traditional values after the US billionaire bought a £65m stake in the club. In response, Kroenke has reassured Wenger that he has no plans to have any English players either.

Matthew Upson may never play a full match for West Ham. Signed by the Hammers for £7m in January from Birmingham, 'sicknote' Upson has so far only managed 41 minutes of football. It is widely believed his contract has a relegation escape clause in it, and we all know where West Ham are going.


The next two points are serious


The Glazer family's takeover of Manchester United has resulted in a pre-tax loss of £137.7m in the club's holding company, known as Red Football which was set up for the deal. The accounts filed at Companies House show for the first time that the actual amount paid by the Glazers to acquire the club was £809.1m. Interest payments on debt of £598m totalled about £85.2m in the 14 months between May 1 2005 and June 30 2006, divided between £27.2m from cash flow and £57.9m in high-yielding payment-in-kind notes. The club's success on the pitch has eased financial pressures. The Glazers refinanced the debt last August, raising the total debt to £660m but reducing the debt servicing to about £60m. The club is enjoying record revenues and made a £31m profit in the 12 months to June 30. Glazer family sources told the Financial Times that the accounting losses were expected and reflected the cost of financing the old capital structure of the club, the depreciation of goodwill and exceptional one-off takeover costs.


Bolton Wanderers manager Sam Allardyce has forecast that there could be mass sackings in the Barclays Premiership next season as a consequence of the new television deal. Chris Coleman's sacking at Fulham took the number of top flight managers dismissed this season to four, but Allardyce fears that a far higher number will be forced out next season as worried club bosses lose patience even quicker because of the money at stake from the new television contract. Allardyce commented, 'The panic and the kneejerk reactions are going to set in even more. At the moment it's managers in the bottom four or five who are under pressure, but that is about to become the bottom eight, nine or ten because of the money at stake.' Of course, there is also a high turnover of managers in the lower divisions and even at non-league football.


Money, is it taking over the game, or has it always been this way.
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