IS BIG MONEY RUINING SPORT?
A collective effort must commence to unshackle sport from the insidious grip of avarice and wealth. The time has come to rewrite the script.
The power of money and politics are threatening to take over the playing field. Rules and regulations are bent or broken — whether it’s in the Indian Premier League or the English Premier League — to suit the interests of a few. The recent cash-only trade of Indian all-rounder Hardik Pandya from the Gujarat Titans to the ever-so-successful Mumbai Indians defied the convention of fair play. Pandya, hours after being included in the Titans’ retained list, almost magically reappeared in the Mumbai Indians’ camp after captaining Gujarat for a couple of seasons. A complex financial dance was orchestrated to open up the Mumbai purse — Australian Cameron Green moving from Mumbai to the Royal Challengers Bangalore — to welcome their prodigal son back into the fold.
The IPL’S provision of an extended trading window after the retention deadline and the concept of a Negotiated Increase transfer fee (surpassing the player’s annual fee) bestow a veneer of legitimacy upon clandestine negotiations.
The EPL, too, finds itself ensnared in the clutches of rampant Financial Fair Play (FFP) breaches by top clubs like Manchester City, Chelsea, Everton, and others. City, the current English and European champion, is charged with 115 FFP breaches, while Chelsea grapples with an inquiry into secret payments to companies linked to the erstwhile club owner Roman Abramovich between 2012 and 2019.
Everton, recently docked 10 points, became the first English club to pay the price for breaking the profitability and sustainability rules (PSR). The move saw the Sean Dyche-coached side drop into the relegation zone.
The club had a cumulative loss of GBP124.5 million at the end of the 2022 FFP cycle, way above the generous Premier League threshold of GBP105 million for every three-year period.
The Abu Dhabi-owned Man City faces far more serious charges of intentional breaches spanning 14 seasons.
The nine-time League champion’s alleged sins range from failing to present “a true and fair view of the club’s financial position” to conveniently omitting “full details” of player and manager remuneration, coupled with a reluctance to cooperate with the Premier League’s investigations.
With the imminent introduction of a British government-appointed regulatory body threatening the Premier League’s autonomy, storm clouds gather over City and Chelsea. The League, in a last-ditch attempt to retain its independence, might contemplate the prospect of making cautionary tales out of these two wayward giants.
Regardless of the impending consequences, a collective effort must commence to unshackle sport from the insidious grip of avarice and wealth. The time has come to rewrite the script.