That the rich guys that own teams are griping that the sky is falling. ESPN Soccernet has this piece that quotes the owner of one of the Premiership football teams in England, think major league soccer that is actually major league, freaking out: "West Ham co-owner David Gold claims England's top-flight clubs are 'spiralling towards oblivion' and has called for spending limits for Premier League sides."
The sky is falling.
Not so fast says the league office.
"The Premier League insisted that finances overall were 'robust' and pointed out that a new set of rules were voted in by the 20 member clubs in September. A league spokesman said: 'The finances of the Premier League as a whole are robust with long-term broadcast and commercial rights all up significantly during the worst recession in living memory. It is currently the most profitable league in Europe with an average wage to turnover ratio of 62%.'"
The sky is not falling.
WFDS
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