Today, thanks to Britain's deep recession, the league must spend its off-season grappling with falling ticket prices, ailing corporate sponsors and financially distressed owners. Unlike teams in the NFL, Premier League clubs are almost entirely unregulated: There is no salary cap, players are freely traded, and league administrators have no control over who buys and sells clubs. Given such wide latitude, some owners racked up big debts during the credit boom, both on buying the clubs themselves and recruiting expensive, on-field talent. Analysts fear the owners who spent big will now be whipsawed by the downturn and forced to make deep cuts.Conservatives in America love to ramble on and on about 'Socialism' which they often equate with Europe and a 'European' way of doing things. Yet, as alluded to in the paragraph above, the most successful sports league in the US, possibly in the world, is the NFL. This is a league in which private owners submit almost every business decision to their fellow owners and to the league.
Teams share revenue, which ensures that at least some of the advantages of being in large media markets are spread to smaller market teams. Teams that finish last are given preferential treatment in the draft of college players, again to give them every chance to rise off the bottom and compete in the league.
In English football, on the other hand, not only are the teams free to do more or less as they please, but losing is punished severely: the bottom three teams at each level get demoted, cast down to a lower league. In such a system, the Chicago Cubs would be lucky to be in AA baseball.
Perhaps it is a stretch to use the term 'Socialist' to define the NFL. Despite the heavy regulation, the teams remain the private playthings of rich owners. But then, most of Europe is privately owned too. The 'Socialist' medicine delivered in the UK is delivered with the involvement of private contractors at nearly every level. Much of the public transport system, the national rail franchises in particular, is run by private corporations like Virgin.
Does the term 'Socialism' even mean anything any more or is it just Conservative-speak for 'Stuff I don't Like'?
English Soccer's Morning After - WSJ.com