Wednesday, 23 December 2015

Top of the market? - part 4

The Times sports section had a great scoop this morning about a consortium of American investors closing in on a takeover of Everton Football Club. In case you missed it, here is a link to Rory Smith's story:

The tale comes as another group of US businessmen - including former Blackstone executive David Blitzer - seal a deal to purchase Crystal Palace Football Club after a year of negotiations.

Now, readers might be wondering why I'm noting these deals as part of my "top of the market" series.

Well, it struck me whilst reading the The Times article this morning that the last time the Premier League saw a wave of US tycoons gobbling up top flight Football Clubs was towards the end of the credit boom of the mid-noughties.

Remember, for example, the takeover of Liverpool Football Club by George Gillette and Tom Hicks for about £220 million in 2007 (literally, the top of the market).

And as many staunch Liverpool fans will recall, that deal didn't work out too well...  

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