Former Liverpool striker Michael Owen’s "latest business venture is a far cry from the traditional life of the retired football star," according to Ben Bland of the FINANCIAL TIMES. Owen and his business partner, fellow former England and Liverpool player Mark Wright, have set up a Liverpool-based coaching company called Red Sports that will launch in China later this year. This "makes them part of a growing cohort of ex-stars" trying to capitalize on China’s football revolution, as billions of dollars are spent to fulfill President Xi Jinping’s "dream of making the nation a powerhouse in the beautiful game." Wright's wife, Sue -- the business development manager of Red Sports -- said, "There are huge opportunities in China and Red Sports has been set up to fill some of the gaps outlined in the national plan, focusing on coach education and the development of in-school coaching programs." Football industry experts say that "even top players can see their brand value plummet when they retire." Few can "sustain their earnings power." As China has "cranked up its football investments over the past two years," an increasing number of int'l players, coaches, agents and bankers have been "trying to grab some of the action." Red Sports aims to sell its services to local governments "keen to embed football in the school curriculum," or to businesses that want to provide football training programs to the community. Owen and Wright have been "working to win government support, meeting officials at China’s embassy in London two weeks ago" and promising on their website that "our policies and initiatives are modelled around President Xi Jinping’s vision." Sue Wright "accepts that it will take time to establish the business and to have an impact on the culture in China," where many parents prioritize academic education and do not "see the value of sports." But she believes "there are plenty of opportunities for new companies entering the market." She said, "Compared to the scale of China, I don’t think it’s over-saturated" (FT, 9/8).
