The New Business of Football: Accountability and Finance in by Stephen Morrow (auth.)

By Stephen Morrow (auth.)

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1 ....... 5 million by 1971/72 (Cairns, 1987). 1m. During this period there is little doubt that players were being exploited vis-a-vis the wages they were receiving from clubs compared to the revenue they were generating for those clubs through gate receipts. , 1993). The implications of the Bosman ruling on wage rates will be discussed later in this chapter. The level of players' salaries has also been influenced by transfer market restrictions which introduce an element of monopsonistic exploitation by clubs into the market place.

From the clubs' point of view, the transfer system has been an important mechanism in helping them to build teams that will achieve footballing success. In other words, players are bought and sold by a manager with the intention of increasing playing strength and improving a team's performance and thus achieving football success. However, to the players the merits of the system are less obvious. Early writings on the economics of football suggested that it was appropriate to adopt a unitary perspective of an organisation when discussing football clubs, with all relevant participants in the clubs being assumed to share the same objective of playing success (for example, see Sloane, 1971).

As an alternative to the transfer market, the Court concurred with the earlier suggestion of the Advocate General, that measures such as collective wage agreements (see section on Implications for salaries later in this chapter) and/or redistribution of club revenue from gate receipts and broadcasting fees represented suitable means of promoting the desired aim of financial and competitive balance. Importantly, these measures would ensure that the aim is achieved without impeding the principle of the freedom of movement (CJEC, 1995b, para.

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