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Although the age-old trope of Americans not understanding European football still persists to this day, it would be churlish to deny their expertise in monetising their native sports. The National Football League, National Basketball Assocation and Major League Baseball take first, second and third positions in the table of sports leagues around the world with the highest revenue streams. Although football — or perhaps soccer would be more appropriate on this rare occasion — is viewed by many as the global sport, no one could argue for it being the most advanced, or indeed the most lucrative, when it comes to finances and infrastructure. It may pain many in Europe to admit it, but American sport stands alone as an economic behemoth that dwarfs leagues in other parts of the world. In part, this is due to a shamelessness in the American psyche when it comes to feeding the corporate machine and making everything so advertently about wealth production; there is also an astuteness, perhaps the by-product of such a psyche, when it comes to operating sporting commodities for the purpose of making money. It should not come as a surprise, therefore, that American business models have begun penetrating the European football market in search of greater riches. It should also not be surprising that football, whether fans like it or not, could do with a little extra cash and some North American inspiration.
Every event, good or bad, presents opportunity and the potential for new ideas and ways of doing things to spawn. Covid-19, for all the damage it caused to society and people’s livelihoods, fashioned interesting investment opportunities for private equity and venture capital firms looking to expand into the European sporting market: football clubs, having taken a substantial financial hit while fans were unable to watch their teams in stadiums, were in desperate need of balancing the books and ensuring they could continue to run as normal. The first major European…
Source link : https://www.footballparadise.com/uncle-sam-has-moved-into-town-football-and-the-usa/
Author : Ed Pracy
Publish date : 2024-02-01 14:00:00
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