Ange
The manager was removed because his competitive demands would raise the wage bill and require capital outlay that conflicts with the owner’s preferred risk profile.
It’s not football. It’s yield management wrapped in scarves.
The owners extract cash from the club by convertable notes that look like an equity injection but have loan clauses triggered at extortionate terms. Or they lend their money to commercial banks who on-lend it to the club.
At least 50% of the revenue is attributable to the fan base so it’s important for the owners to pretend to care even if they don’t. It’s performative capitalism.
In any case, for the owners it’s risk free yield so long as they don’t go chasing expensive glory and can continually blame someone or something else.
The poor fans; they are the lifeblood of a machine engineered to never let them achieve what they fund.
They have a form of Stockholm Syndrome; they don’t understand it but they know they’re being snowed.
offshore westerly 