Latest news with #MattSlater
The 42
4 days ago
- Business
- The 42
Former Premier League club and century-old institution fight for life in EFL
SOMETIMES YOU JUST have to accept that you won't find a better intro paragraph to a topic that football fans in this country might only be vaguely familiar with. So here is Matt Slater of The Athletic from July 2022, after another club in England was pulled back from the financial abyss by the short strings. 'Frank Rothwell left school at 14 to repair tractors but then built a multi-million-pound business. He is also the oldest man to row across the Atlantic, raising another million for charity in the process, is one of only 10 sailors to circumnavigate both North and South America, has survived cancer and has built the world's only coal-powered Land Rover. But he is not promising any miracles at Oldham Athletic, the 127-year-old football club Rothwell has just rescued from four years of rancorous decline and almost certain bankruptcy.' Just shy of three years on and both Rothwell and Oldham are just a little bit older now. But this is no longer a tired, old club. It is rejuvenated and, today/tomorrow (Sunday), 90 minutes (or more) away from returning to the English Football League when they face Southend United in the National League play-off final at Wembley. Barnet, managed by Dubliner Dean Brennan, just secured automatic promotion out of the fifth tier of English football with 101 points. A division where players are often on a merry-go-round between clubs, with a somewhat insular transfer market and varied ownership models. It sounds a lot like home, although the seven-year broadcast deal agreed with DAZN is twice the length of the one agreed between Virgin and the League of Ireland and is estimated to be worth between circa £100,000-130,000 per club. Southend's story is one of equal distress in recent years, their fall and fragile rise the epitome of a dysfunctional ecosystem that led to their relegation in 2021 after 101 years in the Football League. Kevin Maher is the former Ireland underage international attempting to inspire a return as manager. Advertisement For Oldham, their tale of woe can also be quickly told, one they feared might become an epitaph: First founding members of the Premier League relegated from the Football League. That ignominy came in the months before Rothwell came to the rescue. Their last home win in the Premier League was a 4-1 triumph over Queens Park Rangers on 2 April, 1994. There were 10,440 in attendance at Boundary Park. Thirty one years later they remain in that venue just north of Manchester, some 13 kilometres from Old Trafford, but there were more fans through the gates (10,865) for their most recent home in the play-off series than when they last tasted victory in the top flight. That is an indication of their resilience, something that was tested severely under the previous stewardship of Abdallah Lemsagam, who took control of Oldham in 2018 and, despite insisting that he invested close to €7 million, oversaw their collapse. Rothwell, the local businessman, was ushered in and the respective ownership models of these two clubs vying for promotion are also indicative of contrasting models that have emerged throughout Europe – including the League of Ireland. None have quite matched the glamour of Hollywood pair Ryan Reynolds and Rob McElhinney at Wrexham. They took over in 2022, the same year Oldham were relegated, went up as champions the following seasons. Successive promotions have followed and they're now in the Championship. Australian businessman Justin Rees has a much lower profile and heads up the Custodians of Southend United (COSU) consortium, with further investment announced in November from USA-based technology entrepreneur Shivaas Gulati. Given the club announced a pre-tax loss on 1 May of £2.65 million for the 12 months up until the end of July '24, it's understandable further resources were required. Relegated clubs from League Two also receive parachute payments for up two seasons in the National League, worth 100% of the estimated £1.5 million that comes for the EFL's 'basic award amount' as well as solidarity payments from the Premier League. If they remain for a second term it drops to 55%. It means, like the League of Ireland, this is a division where budgets and player wages can fluctuate wildly, where players taking part in this game at Wembley will be earning upwards of £5,000 per week and opponents elsewhere will be scratching around on a few hundred. The combined budgets for these two sides in the play-off final are estimated by sources with knowledge of the league to be in the region of £4m-£5m. Additional revenues will of course come from promotion to the EFL, such as an estimated £300,000 per year for League Two clubs as part of the new television deal that was signed with Sky Sports ahead of last season. There are additional expenditures, of course, and only this April the English FA published the total amount paid to agents in the professional pyramid – of which 23 of the 24 clubs in the National League are full-time, with only Tamworth, who finished 10th, understood to still be part-time. One of the four who did suffer relegation are also believed to have an annual budget touching £2m, with only a small reduction expected to bounce back up given there are players in the Northern and Southern National Leagues that can earn up to £2,000 per week. Back on the agent-fee front, the English FA tallied the amount in the men's game to be £483,615,068 between February 2024 and 2025. Of that, £952,638 came from the National League system with Oldham (£94,707) and Southend (£103,227) still trailing Forest Green Rovers (£133,184) and York City (£109,596). Top National League clubs may, of course, be in a position to offer more money to some of the best League of Ireland players but not by much at the top end and ours is not really a market too many will dabble in. For Oldham and Southend, Wembley provides a glorious day out after their darkest hour. But as both of these clubs know the shot at glory always comes at a cost.
ITV News
23-05-2025
- Science
- ITV News
Maerl beds: the irreplaceable fish nurseries under threat from sewage and pollution in Cornwall
Marine experts have warned that Cornwall's ancient coral beds are being damaged by pollution. Divers have found that the previously "purple and beautiful" maerl beds off St Mawes are now covered in a brown algae caused by sewage and to Cornwall Wildlife Trust, this development is a "massive concern" for the essential ecosystems. What are maerl beds? Maerl is a purple-pink seaweed that forms a hard layer on the seabed over thousands of years. This spiky surface is an irreplaceable marine habitat which acts as a nursery for commercial fish and shellfish species, as well as being a vital carbon store. Maerl beds are fragile structures which can easily be damaged by human activities such as towed fishing gear, anchor damage and commercial extraction. Protections like the EU Special Area of Conservation apply within the Fal estuary, meaning mobile fishing gear and maerl extraction are both now banned. What has happened to the maerl beds in Falmouth Bay? However, water quality is also a key threat to the habitat, and an organised dive at the recent UK Maerl Forum found that the ancient maerl beds off St Mawes had suffered a serious deterioration. Sewage and agricultural run-off cause raised nutrient levels in the water, which can lead to this algae now covering the beds. Speaking to ITV News West Country, a Marine Conservation Officer at Cornwall Wildlife Trust, Matt Slater, explained: 'We were all absolutely shocked to find that instead of seeing a beautiful purple carpet of living mearl, it was absolutely smothered in brown algae, and you could tell that there was virtually no light getting through that seaweed." He added: "We really hope that it's going to survive, but we know from experience that was shared at the Maerl Forum, that in other parts of Europe where this has been witnessed, it has been really bad news." What can be done? According to Mr Slater, this deterioration should be "a wake up call that something needs to be done about water quality in the Fal". He noted: "It's great that there is work going on but we would love to see more of it, and quicker." Cornwall Wildlife Trust is working with farmers to reduce agricultural run-off and is encouraging sustainable fishing practises. South West Water has said it is working with the Environment Agency and Natural England to understand the sources and distribution of nutrients and chemicals. In a statement, the utility company added: "We are also planning to reduce the nutrient load at a number of wastewater treatment plants across our region, including at North Fal (St Stephen) and St Dennis, both within the wider Fal/Helford catchments, which will improve the quality of the water in the rivers that flow into the estuary. "We are reducing levels of phosphate in the treated wastewater that we return to the environment. We are serious about reducing the use of storm overflows and our plan is working, but there is more to do. We will be carrying out improvements at 16 Storm Overflows closest to the Fal Estuary area by 2030."
BBC News
13-05-2025
- Science
- BBC News
Conservationists 'shocked' by coral bed deterioration in Cornwall
Marine scientists and conservationists have expressed shock after finding ancient coral beds in Cornwall smothered in algae caused by sewage and organised dive to explore maerl beds as part of the UK Maerl Forum took place off St Mawes in April and revealed a "worrying deterioration" in the ecosystems, Cornwall Wildlife Trust beds consist of fragile, rare and slow-growing red calcified seaweed which acts as a nursery for commercial fish and shellfish species, it Slater, a marine conservation officer at the trust, said it was "a massive concern" and improvement to the water quality in the Fal Estuary was needed urgently. 'Very sombre atmosphere' Organised by Cornwall Council and Natural England, the forum aimed to increase collaboration and create an action plan for the protection of Cornwall's maerl Slater said: "It was a shocking sight. "The area, which was previously purple and beautiful, is now covered with a thick layer of brown, fluffy algae. "We've surveyed here regularly for the past eight years and I have never seen the maerl beds looking like this."It was a very sombre atmosphere."Cornwall Wildlife Trust said mobile fishing gear was damaging maerl beds, as well as a deterioration in water added scallop dredges and beam trawls, which could destroy up to 70% of the live maerl nodules, were of "particular concern". Mr Slater said: "Maerl grows so slowly. If you lose it, there's very little chance you'll be able to grow it back; certainly not within our lifetime."Maerl beds, which also act as a vital carbon store, were recently classified as irreplaceable marine habitats by Natural England, Cornwall Wildlife Trust trust said it was working with farmers to reduce agricultural run-off and with fishers on sustainable management practises.
New York Times
27-03-2025
- Business
- New York Times
‘We are living through an experiment, but multi-club ownership is here to stay'
Matt Slater joined Ayo Akinwolere on The Athletic FC Podcast's series on multi-club ownership this week to give his expert views on a hugely important, and divisive, part of the modern game. In the third and final episode, which was released on Wednesday, Matt answered questions concerning the topic from our listeners and readers, going into detail on the positives and negatives of multi-club networks, the financial situations at these groups and the implications for the clubs purchased as part of these schemes. This is a partial transcript that has been edited for clarity and length. The full episode can be listened to by clicking on the link below. And to listen to the previous two episodes, please click here. Adam M: Leicester fan here. I can't see any positives from our multi-club model. Our youth players go to Belgian club Leuven and never get played (Leuven don't appreciate being Leicester's feeder side and rightly so). Equally, Leuven have some talented players who are coveted by Premier League teams yet Leicester haven't leveraged the relationship to sign them. So what's the point? Advertisement Matt Slater: A few years ago lots of clubs were buying a Belgian team, or a Dutch team or a French second-division team and saying they have ticked the multi-club box. If you look for hotbeds of football talent some of the places that come up, along with Brazil, are London, Paris and Brussels. So to be in these places sort of made sense. But when I look at that Leicester relationship, you are right. What have Leicester got out of it? I can see very little evidence of a coherent strategy or of any real attempt to maximise their footprint in the Belgian league. There have been players that have gone there on loan, one was Kamal Sowah and I remember people had high hopes but it didn't come to anything. He's now playing in the Netherlands (at NAC Breda) and has got just one international cap (for Ghana). He went to Club Brugge but didn't score any (league) goals for them. So that wasn't good enough. Now, look, that happens, recruitment is hard. But still, it's almost like: 'Is that it?' Nathaniel F: When you factor in the initial purchase costs and the ongoing yearly profits or losses, do multi-club networks actually make money? Even if they don't turn a profit in the short term, would their potential sale value end up being higher than those costs? Matt Slater: The short answer is no. I think UEFA estimate that something like 350 clubs in Europe are part of networks. There may be one that I can't think of that is turning an annual profit, but I'd be surprised. That shouldn't shock people, though. Running football clubs is hard. Very few of them are profitable. A good example here would be City Football Group. They've got 13 clubs and have been spending a fortune on them, but the total combined losses of the group is now basically £1billion ($1.28bn). And that doesn't include the costs of acquiring some of these franchises. Multi-club ownership has become the big idea in European football over the last five to 10 years, but it still feels unproven. I don't think anyone has really proven it can work. The one exception, and there are caveats, is Red Bull. They could probably say it's worked for them, but remember they are selling us drinks too. So part of their expense on the football teams is from their marketing budget. Nathaniel F: City Football Group is led by some of the brightest minds in both football and business, so why is it that most of their teams aren't as successful as Manchester City? You would think that teams in places like South America, New York or their various clubs in Asia would be winning more often. Advertisement Matt Slater: It's about perception. Manchester City have been amazing for 10 years. Have the other clubs been as successful as them? No, but they have still been quite successful. The year 2021 in particular was amazing. NYCFC won the MLS Cup, Mumbai City won two trophies and Montevideo got promoted that year. It hasn't been as good for the other teams since, that's true. But look at some of the investments they've made — Troyes and Lommel, for example. They were clearly bought as feeder teams. That is where they expect teenagers to get playing time in a European league and they will then see if they are good enough. They probably aren't trying to win everywhere, because they haven't chosen clubs with the capability of winning as easily as Manchester City. The underlying inference is that the group is channelled to make Manchester City good. If you have a good enough player in the group, they will get funnelled to Manchester and the centre of the first team. David S: The very concept of multi-club ownership is an abomination and the antithesis of what football should be about. We all reluctantly accept that the days of being owned by your local millionaire are done, but legislation should restrict owners or shareholders to a stake in a single football club. Multi-club ownership throws up potential for conflicts of interest and the prospect of sheer neglect towards the smaller clubs in a portfolio. Matt Slater: It's an unproven thesis. It feels like we are living through an experiment. How many times have I said running football clubs is hard? They are loss-making, so if you own several then you are making it even harder. That's a concern for me. So, 777 Partners is probably the poster boy for when it goes wrong — an American investment firm based in Miami that started accumulating football clubs for a bizarre reason. They were arrogant and they thought they could do it better. But the main guy there was called Josh Wander and he gave a notorious interview to the Financial Times where he talked about football fans being eager to be monetised. Advertisement And this network of clubs was a kind of great big shopping window for sponsors and credit card and insurance firms to sign up fans. It all fell apart and they have been accused of fraud. They owned Standard Liege and Hertha Berlin. They also nearly bought Everton. We are not talking about brands of clothing or coffee, this is sport. We want our owner to really care about our club, so I totally understand where the question is coming from. But the reason multi-club ownership is happening is because the industry isn't quite working. Think about Trent Alexander-Arnold (at Liverpool). This is a classic case of a highly-paid, precious asset that may go for nothing due to the (club's) own failures. If you could somehow keep that within a group, you can sort of mitigate some of that risk. So I understand. Yet when people ask me if I would want it for my club, I usually say no. However, it wasn't that long ago that my club very nearly shut. So if the choice is between nothing and carrying on, well then it's like: 'Yeah, okay.' I'm afraid I am sitting on a fence here, because I can see where the multi-clubbers are coming from. I look at the industry and see failing businesses, distressed assets and jobs at risk. So I'm thinking: 'Well, I'm not surprised that people are thinking 'let's consolidate and try and be sustainable'.' Ayo Akinwolere: Fans are powerless to a certain degree about the people that take over their club. For instance, if you've got a club that was close to administration not too long ago then many fans are thinking: 'OK, yes please.' But very few have looked down the line to see whether or not this is a legitimate group or whether they have the right ethos for the club. Matt Slater: This is so big. As fans, you can get organised and you can make it uncomfortable (to try and get) someone to leave. What you can't really do is do the vetting and do the choosing (of prospective owners). It's really still (down to) that owner to sort of choose their successor. This is the situation at Reading, Swindon and Morecambe. It's really hard and you feel powerless. Michael H: Previously when this topic has been spoken about on The Athletic FC Podcast, it has been negative and multi-club ownerships have been viewed as an existential threat to football. Has that view changed? Is there an acceptance that they are here to stay? Matt Slater: Yes. It's here and it's not going away. The game has got to, I think, have a clearer idea around separation and how we police this, because it does seem a bit ad hoc at the moment. Advertisement Is anyone really making money yet? Not yet. Is anyone getting sustainable? Yes, I think some are probably close to sustainability. Are any starting to really kind of hit their goals? Black Knight appeared to be getting close to hitting their goals and there are a few others out there that would probably say their goals are about one or two of their teams being really successful. You can listen to other episodes of The Athletic FC Podcast, which covers the biggest issues and talking points in the game, here.
New York Times
25-03-2025
- Business
- New York Times
Mailbag: How is multi-club ownership reshaping football?
Whether it's Manchester City, Chelsea or Bournemouth — more and more Premier League clubs are sitting as part of multi-club ownership portfolios. But why? How do they work? Are they a shortcut to success, on and off the pitch? This week, Matt Slater will be joined by special guests on The Athletic FC podcast as we explore the concept of multi-club ownership. And we want you, the fans, to get involved too. What do you really think of multi-club models? What do you want to know about how they work — or when they don't? Please leave your comments and questions below, and Matt will answer as many as he can later in the week.
