Patriots Owner Frowns Upon EPL's Business Plan As Poor Investment
New England Patriots owner Robert Kraft would rather make a donation to charity than invest millions of dollars in an English Premier League football club "because the economics of football make no business sense," according to CNN. Kraft analyzed football's business model and "insisted he would not follow the example" of Abu-Dhabi-owned league winners Man City. The Blues have suffered "huge losses" of $300M for the financial year to "assemble a championship team." Kraft said, "Manchester City won the championship this year and I hear they're going to lose $156 million. I would rather give that money to charity if I had it. I want every business to stand on its own." It had been the absence of a salary cap in the Premier League that "deterred Kraft from investing in Liverpool." Kraft: "We could have bought Liverpool before the two ownership groups who preceded us, and in the end I don't want to compete in a business where people throw money at something" (CNN INTERNATIONAL, 6/27).