Special Feature: Top 10 takeovers in club football – Part 1
As football grows as a sport, its international appeal as an entertainment industry increases. With that appeal, comes a financial aspect that cannot be ignored. After all, every modern football club is an extensive business centre. These business centres focus on commercialization and marketing of their product, so that their profit levels are kept at the maximum and losses are kept at a minimal. However, once upon a time, it wasn’t like this. So when this culture of investment and profit oriented fashion take over the world of sport as far as football is concerned.
To answer that question, one would have to view the history of the most successful investments in world football. Some clubs have benefitted as a result of these investments while others have proven to be cash cows riddled with debt. A long debate has ensued in club football lately after Liverpool’s historical demise from legendary dynastic status to a mid-table team. An example of bad business is exemplified by Liverpool’s regression in the EPL which started when they were a subject of a successful takeover bid by the American duo of Gillet and Hicks. Of course one cannot appropriate all the blame on the owners but as far as the financial side of the club goes, Tom Hicks and George Gillet will have to share the blame.
Nonetheless, not all takeovers are hurtful for football clubs as some clubs have emerged as giants because of the shrewd business tradition that has been introduced at these respective organizations after new owners have apparently taken control. One such club has been Watford. Way back in 1976, Watford was bought by Sir Elton John, yes the same Elton John that sung at Lady Dianna’s funeral ceremony. Upon his take over, Elton and the Watford fans were unsure whether or not they were ready for promotion to England’s first tier of league football. Elton John hired one of the finest English managers ever, Graham Taylor to lead Watford to English football’s first division. From the fourth division to the first one in merely 5 years, Taylor worked a miracle for the Hornets and Sir Elton John.
In their first season in the first division of league football in England, Watford finished second behind the league champions Liverpool. Not only that, Elton also called upon some of the players at the club to sing as backup vocalists in one of his albums. If there ever was a late 70’s media show in football, it was Watford. However, in 1987 Elton John became tired of his little football project and sold the club only to realize it was a big mistake. He returned in 1997 to Watford but this time as an honorary life long chairman of the club. Lately, Elton John held a charity concert to collect funds so that Watford could actually invest in new players.
Another success story in the world of club football is related to Gigi Becali of the Romanian club, FC Steaua Bucharest. In 2003, Becali became a majority shareholder of the Romanian football club, Steaua Bucharest. It was a surprise move by Gigi but it worked out as quite a colourful one. In the next seven years, he has been in charge at Steaua where a total number of thirteen managers have been hired to work for the club. In these seven years, the Romanian legend, Gheorghe Hagi has also been one of the managerial casualties at the club.
Upon his removal as the first team manager at Bucharest, Hagi accused Becali of running the club unfairly by intruding into the team’s affairs such as selection and formations as well as substitutions. Steaua’s current manager, Marius Lacatus has been given an ultimatum already. According to different reports, he has been told that if his team doesn’t finish in the top two teams of the Romanian league, he will be sacked just like his predecessors.
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