Even as track and road running prize purses continue to stagger along at start up, 20th century levels, officials of the “beautiful game” soccer are placing curbs on runaway athlete spending at SoccerEx in Manchester, England.
In an effort to halt what’s called “financial doping”, UEFA, the European soccer association, has instituted new regulations that limit wealthy owners from subsidizing team losses incurred while paying high athlete transfer fees and salaries. A top club like Abu Dhabi-owned Manchester City lost $191 million in the year ending May 31, 2010, having spent more on wages alone than it earned in revenue. Continue reading
