Football finance expert Keith Harris, says the Premier League’s record television contract will help revive investors’ interest in English soccer clubs.
The chairman of London-based investment bankers Seymour Pierce believes that the £1.78 billion the Premier League will receive for three seasons until May 2013 will promote a “recovery in attitude” towards investment in top-tier clubs.
Harris, quoted by Bloomberg, said: “Before Christmas the market could not have been worse. What we’ve seen is, in keeping with financial market generally, a gentle improvement in attitude.”
“There’s beginning to be a recovery in attitude to the possibility of owning a football club. People are now looking to do something they weren’t in November, but they’re cautious,” he added.
“Can the media revenues be guarantees? No. But it does give a lot of comfort that even in this awful economic time the broadcast media do find this content appealing.”
Harris undertook Mike Ashley’s efforts offload Newcastle United, brokered Roman Abramovich’s takeover of Chelsea and was involved in the 2006 takeovers of West Ham and Manchester City.
