Soccer is the world’s favourite sport and the growth in revenues and audience at the top level continues to grow at a rapid rate.
There are many problems as well though and yesterday Glasgow Rangers paid the price for its financial difficulties when the twelve member clubs of the Scottish Premier League voted against Rangers taking part in the 2012/13 season.
One club, Rangers itself, voted in favour but ten were against with one abstention.  The place that had provisionally been reserved for Rangers in its new financial skin will now go to either Dundee who finished second in the Scottish First Division or Dunfermline who were relegated at the end of the last campaign.
The repercussions for the League which in the short term at least will move from a two team contest to a one team contest are uncertain.  TV companies are believed to be considering their contractual position though there would have to have been guarantees about the ‘Old Firm’ to make breach of contract a threat and that would have been against the spirit of the competition with their always being the possibility, no matter how slight of one or other being relegated.
Rangers will now have to seek permission next week to start again in the First, second or third divisions of the League while against this background, players are leaving and signing for other clubs.  Whatever and wherever the club appears next month it will be markedly different from the fans expectations.
The club’s freefall will also cast a shadow over other clubs ability to manage their own debts and these are troubling times for a once proud League.
There is also danger closer to home with Dundalk FC now in serious danger following there  only being one expression of interest, from the supporters trust, in buying out the existing owners of the club who have indicated they will not be renewing the clubs license.
Even at the highest level, all is not well as Manchester United indicated in flotation documents ahead of an initial public offering that debt levels are high and this will likely impact on the clubs ability to compete for key players and other staff.  This is taken as a reference to succession planning for manager Sir Alex Ferguson whose eventual retirement will leave large shoes to fill.
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