pull down to refresh

In the shadow of Mr. Musk's SpaceX IPO (#1496896, #1501767, #1503733) we, the prosperous Europeans, are selling... football clubs!

I mean, duh... together with our monuments and museums (and boomer retirement homes) it's all we have

At Real Madrid, the injection of outside investment could underpin Pérez’s claim that the club is worth $10bn, a figure he says could double under his renewed presidency. That would demonstrate to loyal socios that by backing expensive expansion plans, including the redevelopment of the club’s Bernabéu stadium, they have enhanced their club’s value.

Usually, fandom-type investments (bonds or equity) are done with the heart rather than the brain... bonds at lower rates, equity at insane valuations. Plus: "sports clubs’ financial success will never assuage fans’ irritation if the team fails consistently on the field."

Credit to Pérez for declaring upfront that billionaire would-be “owners” will receive only “the satisfaction of having a relationship” with Real Madrid. But if I were a socio, I would be afraid that seasoned investors might see their symbolic stake as just the first step in a longer-term plan. After all, most billionaires got to where they are today by being able to bury their emotions in favour of making a return.

archive: https://archive.md/t35RY

Mou's back, everything's under control!

reply
28 sats \ 8 replies \ @gsc360 20h

Are you sure? Obviously he'll get a trophy, but copa del Rey looks like the destiny

reply

Obviously, I'm not sure about anything! 😂

Perez already said he had €150M set aside for a top-class player (Haaland?). I only see the Champions League as the end goal, Mou doesn't settle for anything less! ~lol

reply
28 sats \ 6 replies \ @gsc360 20h

Looks like the target is Olise

It would really shok me if they had a winning season, maybe a la Liga playing the horrible style of Mou

reply

Maybe

https://www.transfermarkt.pt/michael-olise/profil/spieler/566723

Mou’s always a wildcard, he’s kinda different now!

reply
28 sats \ 4 replies \ @gsc360 19h

Bayern already said more than once he's not for sale, but it's Madrid

reply

It’s all about the price! I wasn’t super clear earlier, Perez said 'at least €150M'!

reply
28 sats \ 2 replies \ @gsc360 19h

But the thing is he's under contract, and Bayern has "control" hard to see a blooming star sitting out to force his way, contract until 29

https://www.sabcsport.com/soccer/news/president-insists-bayern-munich-won-t-sell-michael-olise-to-real-madrid

The Working Class Built Football. Fiat Money Priced Them OutThe Working Class Built Football. Fiat Money Priced Them Out

The sport built by the working class has become a luxury product through the slow, compounding arithmetic of central bank inflation.

Last month, at a press conference ahead of an FA Cup semi-final, Pep Guardiola was asked about ticket prices for the 2026 World Cup. His answer was neither tactical nor diplomatic. “A long, long time ago, the World Cup was a celebration of the joy of football,” he said. “Everyone travelled across the world to watch their country. And it was affordable. Now it has become so expensive. Football is for the fans. This business doesn’t work without them.” 

FIFA president Gianni Infantino had a different answer. When confronted with reports that World Cup final tickets listed on FIFA’s own official resale platform at nearly $2.3 million each, he laughed it off and promised to personally deliver a hot dog to anyone who paid that price. His substantive defence: “We are in the market in which entertainment is the most developed in the world. So we have to apply market rates.” 

Both men are right, in their own way. Guardiola correctly identifies that something has been lost. Infantino correctly identifies the mechanism: market rates now govern a popular celebration. What neither man explains is why those market rates have drifted so far beyond what ordinary wage-earners can afford. 

For that, you need to understand what happened to money in 1971.

...read more at thedailyeconomy.org
reply