Everton chief questions UEFA Financial Fair Play crackdown
EVERTON FC chief executive Robert Elstone has questioned UEFA’s Financial Fair Play rules, arguing they will make it harder for other clubs to challenge the existing elite.
Mr Elstone, who continues to search for new investment for Everton, said the near £1bn spending spree by Abu Dhabi’s Sheikh Mansour – which took Manchester City from mid-table to Premier League champions in four years – has been “good for football”, despite being attacked by many in the game.
He told a Procurement in Sport forum in Manchester organised by Optimum Procurement that Manchester City’s emergence had helped the Premier League secure a 70% increase in its broadcast revenues from BSkyB and BT.
“I think Manchester City’s emergence has been good for football in terms of the talent and the players thay have brought into the league. I think it’s one of the reasons the new domestic TV deal with Sky and BT is 70% higher than the previous one.
“I think clubs should be allowed to run their business as they see fit – it’s been the way it has been done for 130 or so years and now in one fell swoop you can’t.
“It basically now ingrains the positions of the top clubs and means no one else will be able to challenge that order.”
Mr Elstone told business leaders at the event at Lancashire Cricket Club that the new television deal would be worth around £19m per year more to Everton – on domestic right alone.
“I hope we see similar growth in international too – the Premier League is a phenomenal success and one of this country’s biggest exports.
“On any one Saturday it generates £60m and has grown 1,355% since the formation of the league 20 years ago.”
He also called for talks between his club and city rivals Liverpool over a new stadium – which both clubs need if they are to grow commercial revenues.
“We are open to talks (with Liverpool) I have said it before and that position remains.”
In terms of funding a new stadium, he called for Liverpool City Council to make it a priority, but conceded funding will be tough given the financial climate in both the public and private sector.
“We will need some support in terms of finances from the public sector or a third party, some kind of leg-up.”
Other speakers at the event were Lancashire CCC’s chief executive Jim Cumbes – who spoke about the legal battle around the redevelopment of Old Trafford and rising MotoGP star Bradley Smith.
All three speakers are clients of Manchester-based Optimum Procurement, which is delivering them cost savings through its buying power and procurement systems.
