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| Wednesday, February 7 | |||||
| Man U adds to Premier dominance | |||||
| LONDON -- A headline Wednesday in The Times summed up
England's reaction to the marketing agreement between Manchester
United and the Yankees.
"United go in search of Yankee dollars," The Times said.
"Yankee Doodle United," said a back-page banner in The Sun.
The marriage between the world's wealthiest soccer club and
baseball's richest team dominated Wednesday's British newspapers
and sportscasts.
"Football should not be run solely to suit the needs of foreign
broadcasters and overseas marketing juggernauts," said Oliver
Houston, head of a Manchester United shareholders group.
"We hope the alliance between the prawn sandwich and hot dogs
is a success, but urge -- as ever -- that any increases in revenue be
plowed back into the football club."
Several newspapers predicted the deal would be a blow to other
English Premier League teams such as Arsenal and Liverpool, who are
struggling to keep up with a rival with a $45 average ticket price
and a net worth of $900 million.
Manchester United already has a 15-point lead in the Premier
League and bookmakers already are paying off bets on Manchester
United.
Manchester United's stock price increased 13 percent to $1.65
during midday trading on the London Stock Exchange before closing
at $1.54, an increase of 5.4 percent.
Soccer analyst Nigel Hawkins of the London brokerage Williams De
Broe predicted the short-term emphasis would be on merchandising,
with television rights and advertising coming later.
"In the medium-term, you're talking much more presumably about
TV, media, advertising and global branding," he told Britain's Sky
Television. "I think the major money will be long-term rather than
short-term.
"We may see them try to spread the gospel of the two games more
widely -- Manchester United in the States. Women's football is known
quite well, but they have problems with the men's side of the
game."
Several newspapers noted that Manchester United has recently
removed the word "football club" from its logo and cited a quote
by chairman Martin Edwards calling the club "a marketing brand."
Soccer salaries at Europe's top clubs are dwarfed by American
standards. Midfielder Roy Keene is Manchester United's highest-paid
player, reported to receive $72,500 weekly, which comes to $3.8
million a year.
Bernie Williams, the highest-paid Yankees player, will get $12
million this season.
Manchester United led European teams with revenues of $160
million for the 1998-99 season, according to a report released last
year by the accounting firm Deloitte and Touche. Germany's Bayern
Munich was second, trailing by $39 million.
The Yankees had about $200 million in revenue last year,
according to figures compiled by the baseball commissioner's
office.
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