As I am not an expert in corporate law in this country nor any other, I don’t want to delve too deeply into the Liverpool ownership case before a judge today in London.
But, one aspect of this has made me think a bit. Yet again, we’ve seen the risk of relegation make a well-capitalized and intelligent owner potentially think twice about investing in the sport because the risk of relegation and its associated financial calamities is just too much to bear. I’m not a Liverpool fan, but I don’t want to see a very smart, forward-thinking, and wealthy owner like John Henry (above) chased away from the sport.
But if Liverpool are given a 9-point penalty (for administration) and shoved close enough to relegation that Henry’s group turns its back on the club, I think it only serves to support my point that relegation turns European soccer into such a high-risk enterprise that it scares good, smart owners away from the sport, leaving the sport, its clubs, and their fans to the whims of charlatans, morons, and schemers.