But Quartz, for major brands and businesses this simply doesn't happen in real life, and certainly doesn't in football.QuartzGooner wrote:I have no objection to a single owner.Boomer wrote:If it were possible would anyone prefer to financially compete WITHOUT a single owner?
I do have objection to reliance on a single owner, who if he or she take their money away the club's competitive edge collapses like a house of cards.
Look at United and Chelsea - the Glazers and Abramovich have been at those clubs for several years now. The debt that the Glazers brought with them has been refinanced and they have sought a partial listing of the shares in the Far East. At Chelsea, Abramovich has converted practically all of the debt to equity, so the club is virtually debt free.
A year ago, Liverpool were supposedly going bust - the banks were calling in the debt, the auditors were qualifying the accounts on the basis that the business wasn't a going concern.
If Usmanov took over what do you think he would do; bearing in mind we are talking about a business magnate that has accumulated billions of pounds in personal wealth over decades.
He would invest in the club in a way that has never been seen before and Dein would be the commercial deal maker. Do you really think that he would lend the club all of that money as a high interest loan, knowing that it couldn't be repaid and then suddenly declare the club bankrupt, trashing his own reputation and ability to serve as a UK director at the same time. I think not.
No, we would be in a Chelsea position but with a bigger following and brand. The debt would be converted to equity each year and after a certain time frame - 5,10,20 years whatever - when he wants an 'out' the business would either be listed or another high wealth private investor would come in.
Now, what would be so bad about that ?