Football and Finance: Scouts’ Honour（节选）

足球与金融：球探的荣耀（节选）

　　Money is part of the answer. In 2008-12 Manchester City splurged £520m ($675m) on transfers. Fenway Sports Group, an American firm that bought a near-bankrupt Liverpool in 2010 for £300m, now spends that much a season on players’ wages and transfer fees. But lots of English clubs are wealthy: nine of the world’s 20 highest-earning clubs are English. City spends only 8% more per year on players than United, and Spurs pay 20% less than Arsenal.

　　In the past, Premier League clubs squandered their wealth. When 21st Club, a consultancy, plotted European teams’ spending against their results, 16 of the 20 English sides sat below the trend line. Continental clubs charge higher transfer fees to affluent Premier League sides, who spend 80% more than their rivals for the same level of talent. What’s more, English clubs have a habit of buying ageing stars rather than nurturing talented youngsters.

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