Saturday, 6 December 2008

Shelvey to stay says PP

Charlton supremo Phil Parkinson has insisted that Jonjo Shelvey will stay at The Valley despite interest from a number of Premiership clubs:

Notwithstanding what has been said to Sporting Pravda could a sufficiently attractive offer be refused in current circumstances?


Anonymous said...

It has to be ,otherwise close down Valley Gold it would be a betrayal to all those people who contribute if they sold our best youngsters

Anonymous said...

betrayal of the valley gold ethos possibly but anything north of £500k will not be turned down simply because the whole business is that close to administration and the inevitable collapse which would follow needs must
Save Our Songbirds

Chris said...

The key question is what constitutes “sufficiently attractive”? Given what everybody seems to be saying about Shelvey a sale at £2m, say, would not be “sufficiently attractive”. £500,000 would be a joke, but what about £5m, or perhaps even more? Rationally, unless the club are in serious financial distress, and that is not my impression, Shelvey will not be sold because nobody would pay much more than £2m and probably not even that. In his book, “The truth about markets” (worth a read by the way), the economist John Kay use the “wallet test” to illustrate how information asymmetries can stop markets functioning. The market for young footballers has some similarities; Charlton know far more about Shelvey than anyone else so that if they really believe the rhetoric around him they should wait until other Clubs have seen enough of him so that they can then justify paying Charlton a “sufficiently attractive” price. A sale now at £1m or less, if not driven by financial desperation, would imply either that the hype around the player is “bull” or that the Board are applying an extraordinarily high risk premium to his future worth. Bottom line, I’d be surprised if he goes.