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Klinsmann: financial crisis will hit football.

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Klinsmann: financial crisis will hit football

 

The Associated PressPublished: December 2, 2008

 

 

FRANKFURT, Germany: Bayern Munich coach Juergen Klinsmann believes the financial meltdown will soon hit football, with players' salaries and transfer fees set to plunge.

 

"The financial crisis will really hit football over the next few months," Klinsmann said in an interview with German news agency DPA published Tuesday.

 

"There will be a redefinition of the market ... concerning transfers and salaries," the former Germany coach said.

 

"There will be a new situation. Players whose transfers in January are now unthinkable because they would cost €20 million ($25.22 million) or €30 million, could be available in June suddenly for much less," Klinsmann said.

 

While he did not expect a complete collapse in salaries, Klinsmann said more and more clubs would be forced to rethink their wages, adding that it will be a "tense process."

 

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There were already signs that the crisis could be hitting England, "where there are big question marks concerning owners and investors," he said."

 

 

 

 

 

http://www.iht.com/articles/ap/2008/12/02/...n-Klinsmann.php

 

 

 

Even the world markets have decided to go belly up just as we need good news. ;)

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Why would Klinsmann know? If the TV companies are contracted over the period they cant change the payments they are currently making and if crowd's maintain at a similar level, what has changed within the financial structure?

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Well debt has become more expensive of course. Good stuff, that makes the big club's less powerful.

 

 

I have a feeling this will hurt clubs with huge debt profiles ie the top four. Financial instruments and hedging against debt burdens will fail in the early part of the new year according to market insiders. The stop gap Govt tranches of liquidity won't hold beyond April imo.

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