There’s an old saying that goes something along the lines of ‘the only way to make a small fortune owning a football club is to begin with a large fortune.’ A club may be pottering along, very much as it has done for most of its existence, then someone takes control and starts investing money, the club grows in inverse relationship to the amount of money that the owner has – then comes the crunch.
The owner decides he’s spent enough and divests himself of the costs. The club plummets and ends up in a far worse state than before the money came along. For some clubs, it even leads to destruction as the bright, attractive, but ultimately destructive flare of its owner’s ambition burns out, leaving behind merely ashes, memories and regrets. Stories such as this, tinged with pathos, are common across the game, and fitting right into the model is the period covering the late eighties and early nineties for Belgian club KV Mechelen and IT business magnate John Cordier. The club lived the dream – the electric dream of its owner’s ambition – and then awoke with a hangover. Continue reading →