Football's cash obsession: How the transfer market exploded
The market, once dictated by local businessmen, exploded once the game went global. As television companies one-upped each other for the chance to show top-tier matches, clubs gained a considerable amount of disposable income. Sponsorships increased revenue, and foreign owners entered the fray with their own fortunes.
Faced with shortcomings in goal and defence, Manchester City has splurged nearly £300 million since the 2014-15 season to find a fix. It may now have a stable backline with the pricey acquisitions of Benjamin Mendy and Kyle Walker, but that doesn't guarantee success.
What it does achieve is supporter satisfaction.
"The big-money signing is a way to materially demonstrate a commitment to the fans," Stefan Szymanski, professor of sport management at the University of Michigan and co-author of "Soccernomics," told theScore. "Building a new stand, enhancing the training facilities - while they might actually contribute to a club's long-term success, they don't seem as tangible to the fans. Bringing these gift-wrapped players to the fans is part of the whole relationship with the owners and elected presidents."
Read the full article at MSN Sports here: https://www.msn.com/en-ca/sports/other/footballs-cash-obsession-how-the-transfer-market-exploded/ar-AApawYf