What do they provide that Everton and West Ham doesn’t?
In recent years, takeover rumours have become as abundant as Transfer Rumour »”>transfer rumours in the Premier League. This year alone has seen Carson Yeung finally take over at Birmingham City, Ellis Short has assumed 100% control of Sunderland, while Portsmouth have already been through two takeovers this season! The benefits of having a wealthy owner are obvious; Chelsea won two league titles on the back of heavy investment from their owner; clubs with an affluent owner can show real ambition in the transfer market and this summer both Manchester City and Sunderland have made significant improvements to their playing staff; Birmingham City are expected to do the same in January.
While these clubs appear to have bright futures, the likes of West Ham and Everton are languishing as a result of a lack of investment. Everton’s recent successes have been achieved with little financial investment and David Moyes has performed miracles in his time at the club, but he is swimming against the current, with rivals Villa, Spurs and Manchester City all capable of outspending Everton. West Ham have had all sorts of issues with their ownership in recent seasons and are currently struggling with serious debts. These two clubs both have plenty of potential, they have large fan bases, prolific academies and great traditions; but as of yet neither club has attracted an owner that can take them to the next level. This is more surprising in the context of QPR and Notts County who have the backing of fabulously wealthy, foreign owners despite not being in the top division. So why have West Ham and Everton been ignored?
Well, in Everton’s case they may not have been, Bill Kenwright is actively looking to sell his beloved Toffees as he has acknowledge that the Premier League is now a billionaire’s playground, multi-millionaires just cannot compete on the same level. But such is Kenwright’s attachment to the club that he will only sell to someone who he believes has the funds and inclination to help Everton compete at the very top level; in addition, maintaining the traditions of the football club are also important to Kenwright. He should be commended for this diligence, it makes sense for him to bide his time instead of selling to the first billionaire that comes calling. He needs to ensure that Everton get a Randy Lerner at the helm, and not a Mike Ashley.
The case of West Ham is less straightforward; they are a club of huge stature, and have a group of young, talented players led by one of the most promising young coaches in the division. Despite this, their financial situation is dire and shows no sign of improving. After Eggert Magnússon and Björgólfur Guðmundsson bought the club there was a spending spree in the year 2007’s January transfer window as Alan Curbishley brought in players such as Matthew Upson and Lucas Neill on lucrative contracts and succeeded in keeping the club up. The Icelandic owners and consequently, the club, suffered badly as a result of the global financial crisis and since then West Ham have been crying out for an investor with vision but one has not been forthcoming. CB Holdings, which runs the east London side have been actively been looking for a backer but as of yet, there has been no saviour. The reasons for this are unclear, but the global financial situation is not helping.
The Premiership is one of the world’s most popular and most watched sporting leagues, and as such it continues to attract foreign investment. Local owners such as Bill Kenwright are a dying breed, rightly or wrongly clubs need significant investment if they are to succeed at the highest level. It can only be a matter of time before the Premier League is run by 20 billionaires; both West Ham and Everton are attractive clubs and sooner or later they will have to find benefactors; if they do not, the futures of both clubs look bleak.
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