Andrew Umbers, a partner at London-based Oakwell Sports Advisory, has talked to the New York Times about seeking investors in Charlton.
“The introduction of tighter financial rules and increased
regulation has made English football more attractive to sophisticated,
professional investors, not less attractive, as those investors value good
governance and don’t like risk,” said Umbers, whose firm is running the process
to sell Championship side Charlton Athletic.
[My understanding is that the search is for an additional investor, but
a really good ownership offer would be considered].
He also believes the much-anticipated agreement on a
new financial distribution deal between the Premier League and the EFL
will make the latter’s clubs more desirable. And he was not the only expert to
make this point.
However, another interviewee warned: “The Championship is
the most expensive lottery ticket in world sport. A wage-bill built for a
promotion push does not shrink when the promotion doesn’t arrive, and by year
three you are running a Premier League cost base on Championship revenue.”
“It is very easy to make money in PowerPoint and Excel — the
model always says yes. Then you own the club and find out how hard it is — your
best striker has a hamstring strain, your manager has an agent, your supporters
have an opinion, and none of those three things is in the spreadsheet. Everyone
thought player-trading is easy and you can copy Moneyball. I’ve lost count of people who got that part
of their investment thesis wrong.”
Any prospective buyer of the Addicks would soon find out
that the franchise only consisted of EFL membership and the players with the
stadium and training ground leased.
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