Soccer or sometimes referred to as football is an old game that has always attracted huge followings all over the world. One country that is outstanding in soccer investment is the United Kingdom. There are many football academies all over the country, training kids from as young as five years old, preparing them to enter the professional level. One would argue that the British do this for leisure, but in the process making billions of shillings. This has made soccer to become a major source of income in the United Kingdom.
To begin with, the various football clubs in the UK such as Arsenal, Chelsea, Manchester United and many more have got huge following within and without the country. Their Stadiums get flocked with spectators during the home matches. The spectators have to pay the expensive gate prices in order to enter the stadium. The stadiums also have recreational services including hotels that offer various services during matches. This in turn creates employment to very many people. Therefore, in this regard, soccer plays a big role in producing revenue and offering income to very many citizens as asserted by Borland and MacDonald (2003).
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Secondly, these clubs in the UK carry out business in the sale of merchandise. This can be in the form of jerseys, shoes, banners and scarf. In 2016-2017 season of the English Premier League, Manchester United was the best in selling its merchandise, with jerseys for Pogba and Ibrahimovic leading hence bringing up millions to the club. Every single season the club changes its uniform hence the fans have to buy new products in order to stay updated. This makes the clubs financial stable enabling them to pay their players big ( Pedace, 2008).
The football matches are watched all over the world via televisions. These television stations have to pay for these matches in order to get a live recording. Sports television stations such as Super Sport, BT Sport, Baines, etc. have to pay millions to the football clubs in order to get live streaming to their consumers all over the world. The internet also pays the clubs through downloads of videos and clips and also via the views on YouTube. The soccer industry, therefore, is a source of business to the internet and TV and radio stations who thereafter broadcast their events.
Last but not least, many people owe their job to the soccer industry. This includes team doctors, fitness specialists, dieticians, football pundits, sports journalists, groundsmen, drivers among other professionals. According to Pedace (2008), w ith the huge amounts of money the clubs get, they also need to have enough staff members who in turn get a living to support their families.
To conclude, soccer is an industry that has transformed from entertainment to business. The UK has shown a good example how this can become a reality. Further improvements are being made both professionally and technologically to better this art, for example, the ‘goal line’ technology is only found in the UK. Many more countries such as France and Spain are working hard to match this high standard of soccer. Nevertheless, soccer will remain a big source of income to various stakeholders in the many years to come if further investments are made in it ( Borland & MacDonald, 2003).
Borland, J., & MacDonald, R. (2003). Demand for sport. Oxford review of economic policy , 19 (4), 478-502.
Pedace, R. (2008). Earnings, performance, and nationality discrimination in a highly competitive labor market as an analysis of the English professional soccer league. Journal of Sports Economics , 9 (2), 115-140.