citizenyank76
Well-Known Member
- Joined
- 16 Feb 2010
- Messages
- 2,336
Not quite right.
Dylan wrote: 'Money doesn't talk it swears'.
City certainly needed substantial investment to move from being a mid-table to relegation threatened club into top-four contenders. In the early years of the Champions' League, the income generated from Europe for the top-for team was in line with what was made from domestic competition. This produced a distorted Premier League dominated by the then 'Big Four' of United, Liverpool, Arsenal, and Chelsea. They took top four positions in the Premier League every season from 2002-3 through to 2008-09 apart from 2004-05 when Everton scraped into 4th place ahead of Liverpool. It had no financial impact as Liverpool won the CL that season and were allowed in while Everton failed at the Playoff Round and failed to make the Group Stages. This situation was all about being in the right place at the right time. They were dominant at the time when the UEFA money started to flow and capitalised on this to sustain their position.
The cartel was only broken when the monumental incompetence of the Liverpool ownership allowed Spurs to make the top-four in 2009-10. City replaced Spurs a year later. Since then the top-four has been more competitive and City are the only team who have finished there every season since then. UEFA income is less significant recently due to the new Premier League TV deals.
The investment in City has been well rewarded. I suspect that the increase in the book value of the shareholding, not to mention the cash raised from the sale of a minority stake to the Chinese, has more than offset the initial years of losses.
The difference between the ownership situation of City and United is that ADUG are looking for fair return on their investment while the Glazer family are bleeding United white to prop up their failing chain of shopping malls. United could easily outspend City by a huge margin. Indeed they have marginally outspent City but not that wisely. Now they have the gall to cry 'foul' having outspent City from the late fifties onwards.
Yes. My bad. Been a 15 years since I heard the initial quote. But maybe a better one would be "people who live in glass houses shouldn't throw stones."