Conway's View on European Football Investment

[SBRed48]

A post on BBS quotes Conway writing in the magazine "The Athletic" dated 22nd Sept 2020----writing on the increasing American/Chinese interest in buying into European football clubs

"European football is not as professional, from a business point of view, as American sport, but many Americans make the mistake of thinking that must mean it's easy," says Conway, " Let me tell you , it's not. You cannot manage these investments remotely. You have to spend a lot of time on site".
"The upswing in interest from the States is almost entirely driven by valuations. Even the worst teams in US sport make money, which makes them very valuable. The cheapest NBA basketball team would cost you 1.5 billion dollars, which is five or six times their annual revenue. That multiple is even worse in Major League Soccer, where the minimum price is 250 million dollars-ten times revenue-but in Europe you can buy a club for one times revenue."

Barnsley's annual income (revenue) is around £14 million excluding transfer surpluses so "it was too good to be true" to buy the club for £8 million, debt free.

The article says Paul is looking for more clubs to add to the ones he already has. There is no comment about being interested in football or any intention to invest in BFC to develop it. BFC is purely a business investment with no emotional attachment.

[french_frog01]

P**CK!!!!!! And I've got 20 words to spare

[Nozzer1953]

For them it is like buying penny shares and hoping one comes good. Nothing to do with football, the club or community. We have been had big time.

[Romared]

Reyt , Nowt " Crazy " then , A think wiv all worked em art nar ,