Attack on football capitalism

Sepp Blatter, president of Fifa, has launched an attack on the world’s richest football clubs, accusing them of greed and creating a “Wild West style of capitalism” which threatens to ruin the beautiful game.

In an interview with the Financial Times, Blatter announced Fifa will assemble a special taskforce to investigate the obscene amounts of month invested in the sport.

While Blatter remained quiet on naming the clubs in question, his remarks clearly directed at football investors such as Roman Abramovich and Malcolm Glazer, who bought out the shares in Chelsea FC and Manchester United respectively.

Declaring that the time has finally come to curb the excesses in football greed, Blatter argued “The source of wealth is from individuals with little or no history of interest in the game, who have happened upon football as a means of serving some hidden agenda.

"What is interesting about a league whose champions can be predicted with confidence after about five games?... Why is it good for football to take the excitement away from fans by overcharging them for tickets to see their team?”

Blatter also criticised the excessively high wages paid to players, many of who earn up to £8 million pounds a year. These high wages are some of the reasons why football share holders typically see such poor ROI, and why ticket prices are so high.

“This cannot be the future of our game. Fifa cannot sit by and see greed rule the football world. Nor shall we."

Date: 13.10.05

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