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Simon Kuper, Financial Times & Dr Declan Hill, Oxford University

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Simon Kuper, Financial Times & Dr Declan Hill, Oxford University

  1. 1. ENRONThe World’s Leading Energy Company
  2. 2. ENRONThe World’s Leading Company
  3. 3. Forget coaches: It’s all about players’ salaries Premier League and Championship Teams 1998-2007 4 Manchester United 3 A rsenal R2 = 0.8872 Chelsea Liverpool 2 Aston Villa Newcastle 1 Charlton Leeds W igan Manch ester City 0 Derby Preston North End Millwall -1 Plymouth Nottingham Forest G illin gham Hud dersfield Crewe Alexandra -2 Average league position (-log(p/(45-p)) Swindon QP R Rotherham Port Vale -3 Brighton -4 -2.5 -2 -1.5 -1 -0.5 0 0.5 1 1.5 Wage expenditure relative to the average (log)Players’ salaries explain league position: themore you pay, the higher you finishAnalysis of English Premier League and Championship teamsfrom 1998 to 2007: their spending on players’ salaries explained89 per cent of the variation in their average league position overthe period.Analysis of Italy’s Serie A from 1987 to 2001: the correlationbetween each club’s players’ salaries and league position was 93per cent.By Stefan Szymanski, economics professor, Cass BusinessSchool in LondonFootballers’ Quotes: The Wisdom of David Beckham:
  4. 4. “My parents have always been there for me, ever since Iwas about seven.”“Alex Ferguson is the best manager I’ve ever had at thislevel. Well, he’s the only manager I’ve actually had atthis level.”“That was in the past – we’re in the future now.”"I remember so clearly us going into hospital so Victoriacould have Brooklyn. I was eating a Lion bar at the time"“We’re definitely going to get Brooklyn christened, butwe don’t know into which religion!”“Tom Cruise, hes a lot more famous than me.”“I have just started realising it now-it changes the world,having children.”EPLs Portsmouth could go bustLast Updated: Tuesday, February 9, 2010 | 3:32 PM
  5. 5. The Associated PressPortsmouth is in danger of going out of business. (GlynKirk/AFP/Getty Images)The Portsmouth soccer club appears to be heading for awinding up order in the High Court on Wednesday,struggling to reach a deal with the governments customsauthority over overdue tax payments.The winding up order goes to court in London and, ifgranted, Portsmouth could become the first PremierLeague team to go out of business.

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