Wolves chairman Jeff Shi has revealed that Premier League clubs are ‘divided’ on PSR.
Whilst PSR is not as much of an issue this summer, it is still something that they and many of their rivals have to consider each and every time they look to sign a new player. Most recently, Aston Villa have agreed a deal to sell their women’s team to avoid breaching PSR.
Having financial controls in place to stop clubs suffering major issues in case an owner pulls funding is, on paper, a good idea. However, PSR in its current guise is viewed predominantly as a way for the traditionally rich clubs to maintain dominance over any sides, such as Villa and Newcastle, who have threatened to disrupt their dominance.
Wolves chairman reveals PSR split
PSR has not just hamstrung clubs like Villa and Newcastle, though, and remains something that any Premier League side must consider. Whilst not enjoying the on-field successes of Villa and Newcastle in recent years, Wolves have had to endure some lean transfer windows, whilst also selling some of their top talents, to ensure they do not fall foul of these rules.
Speaking at the Business of Sport, Wolves chairman Jeff Shi revealed that the 20 Premier League clubs are split on the future of PSR and that football ownership in today’s game is vastly different from the game that he invested into around a decade ago.
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“The trend is not good,” Shi said. “The way we invested into the Premier League 10 years ago was OK, not too bad, but afterwards some owners came to the league and tried to invest a lot.
"They didn't care financially at all and some were even trying to break PSR rules. The financial environment for a sensible owner or commercial guy is bad because you have to compete with the reckless spenders on the pitch and, in the meantime, look after your P&R. It's not good.
“I hope one day it can change because the industry will adjust to itself. All the owners can't keep spending unlimitedly for a long time.
“I think the industry will look itself in the mirror and maybe try and learn the lessons but you have to be patient. For every industry until one day it's quite mature and commercialised and all the owners are sensible, you have to wait maybe twenty or thirty years.
“Currently, financially and commercially, I think we are in a better moment and not because of us. But the league is quite divided now and maybe there are ten owners like us who care about financials, who care about sustainability, and maybe another ten who don't care at all.”
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