Ending Football's Crazy Pay Days Will Save Clubs; Palace Co-Owner Steve Parish Tells Julian Bennetts That New Rules for Championship Will Stop Agents Holding Directors to Ransom

The Evening Standard (London, England), August 19, 2011 | Go to article overview

Ending Football's Crazy Pay Days Will Save Clubs; Palace Co-Owner Steve Parish Tells Julian Bennetts That New Rules for Championship Will Stop Agents Holding Directors to Ransom


Byline: Julian Bennetts

CRYSTAL PALACE co-owner Steve Parish sees football finance very simply: it is the land where agents rule, and clubs chase a dream that is more than likely to end with them on the verge of liquidation.

That was the case when he and his fellow consortium members rescued Palace from administration and financial meltdown a year ago, and it is the reason why he believes the Financial Fair Play rules will help save football from itself.

Last month's announcement that Championship clubs had agreed to follow the Premier League and adopt a modified version of UEFA's regulations created barely a stir but to Parish it is the first sign in the past year that football's days of boom and bust could be coming to an end.

There is only one rule: from next season clubs cannot spend more than they earn. It seems simple but has proved devilishly difficult. Indeed, owners chasing the dream or living beyond their means has led clubs such as Palace, West Ham and Watford to the brink of financial oblivion.

Palace vist Hull tomorrow after a solid start to the season but Parish knows that in future owners will be unable to sustain squads of more than 24 players, while the days of spending 97.7 per cent of turnover on wages, as Palace did in 2007-08, is surely at an end.

There is an amount of 'acceptable deviation' of [pounds sterling]1m a season, and owners will still be able to pump cash into their clubs, but only through purchasing equity rather than the 'loans' with which Roman Abramovich underpinned Chelsea, for example.

Clubs who break the rules face heavy punishments, the most brutal of which is likely to be paying a fine equal to their overspend into a central pool. That money will be distributed among the other clubs in the division, meaning sides who overstretch themselves will essentially be funding their rivals.

It is, to Parish, a step that should have been taken long before now.

"There is a certain amount of insanity in football that doesn't operate anywhere else in the world," he said. "I think it is fantastic that, finally, people are trying to control that.

"What we are trying to do is create a more sensible environment on costs and it means you are far more likely to do well from acumen and skill than just throwing money at the problem.

"Football needs some help as there is this constant spiral [of clubs chasing the dream and failing]. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Ending Football's Crazy Pay Days Will Save Clubs; Palace Co-Owner Steve Parish Tells Julian Bennetts That New Rules for Championship Will Stop Agents Holding Directors to Ransom
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.