The English Premier League and the city of London (1980–2010) : a tale of two 'revolutions'
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1466-0970; 1743-9590
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Soccer and society, 2022, Vol. 23, No. 4-5, pp. 500-512
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TELESCA, Giuseppe, The English Premier League and the city of London (1980–2010) : a tale of two ‘revolutions’, Soccer and society, 2022, Vol. 23, No. 4-5, pp. 500-512 - https://hdl.handle.net/1814/77556
Abstract
This work analyzes the English football ‘revolution’ of the 1980s–90s, epitomized by the launch of the English Premier League, through the lens of the financial ‘revolution’, which transformed Britain from the late 1970s. It identifies analogies between the two industries’ transformation and the attempts to regulate them, as well as differences, related in particular to the nature and implications of the respective crises. While research has concentrated on Americanization and globalization of English football, this article focuses on its (supposed) financialization. It looks at attempts to apply the shareholder value principle to English football and to generate profits for football clubs through financial, rather than traditional, channels. This article identifies instances of financialization in football. It argues, however, that unlike the financial sector, the fundamental causes of the crisis in English football were not rooted in its financialization, but in traditional factors, such as excessive wage costs.
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Published online: 31 March 2022