Last week I wrote an article regarding the unfair levels of parachute payments handed to sides relegated from the Premier League. You can read the original article on the link below:
http://irritatingfootball.wordpress.com/2011/08/28/parachute-payments/
Inevitably, the final day of the transfer window only served to put an exclamation mark on the entire saga.
Not content with having brought in Kevin Nolan on a reported £50k per week and John Carew who was previously on something similar at Villa, West Ham went out and strengthened beyond belief. In came Tottenham and (former) England winger David Bentley. Arsenal midfielder Henri Lansbury also joined, rumoured to be having his entire £30k paid by the London club. As if that wasn’t enough though, they then went out and signed Ivory Coast international Guy Demel.
Granted, they finally sold Scott Parker to Tottenham, but the parachute payments have allowed them to reach the safety of the closed transfer window without being made to also sell the likes of Carlton Cole, Robert Green and Julien Faubert. This is a club with one of the worst operating losses in the league, how does this set any kind of standard for the rest? So much for the hard stance on debt…
Meanwhile, Forest were forced to make do with what they already had on deadline day, with the chairman repeatedly referring to the difficult restraints that will be imposed by the upcoming FFP rulings. We don’t have £16m coming in a year, so how are we supposed to compete with the likes of the relegated sides??
As I mentioned in the previous article, it’s getting increasingly obvious that we’re not supposed to.
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By: ‘Parachute payments’? Try ‘Boomerang Bonds’. « Things That Irritate Me…. on September 5, 2011
at 6:13 pm