Why do so many Americans want to buy English football clubs? Some of them end up being reviled and the financial returns, even allowing for the possibility of capital appreciation, are very risky and uncertain.
Why do so many Americans want to buy English football clubs? Some of them end up being reviled and the financial returns, even allowing for the possibility of capital appreciation, are very risky and uncertain.
An interesting insight is given by Millwall chairman John Berylson, a Harvard Business School graduate, in an interview in Four Four Two. He argues that it’s a much a push as a pull factor. He points out, ‘US sports are tightly controlled fiscally. The only really way to make money on a NFL team is to sell it, which means getting off the train. It’s terminal value and you can’t get back on that train so easily.’
In contrast in England, ‘Here they get a little more of the pie. Here you can find a failing team and do a Milan Mandaric, turn it around and sell it. You can’t do that in US sports because there aren’t so many failing teams.’