Image courtesy Freedigitalphotos.net
I recently saw an online article about a study of the debt incurred by plans of professional European Soccer teams. The study was interesting for a number of reasons. First, it was commissioned by Virgin Money—to promote its credit card. Second, it showed results with the average number of fans of each team with professional sport-related debt, and how much the average was, and cross-referenced that to the “Football Fan Price Index” which is clever for a multitude of reasons.
The study is reporting that one if five football fans is forced to borrow to support their football (um, that would be soccer on this continent) habit—of those, the average debt is about $1,100, but another twenty percent of these fans owe between $1,600 and $5,000. Five grand. Wow (these numbers were converted to US Dollars for the purpose of this story).
The study goes on to explain that it isn’t really all about the football, mostly it’s a result of the season ticket cost being so high.
Can we pause for a moment and clarify something?
If you are “forced” into debt by your soccer-watching habit, it is not a habit. It is an addiction. (I don’t have a soccer prejudice—if you have a Starbucks habit which is “forcing” you into debt at the tune of $1,300-$5,000 a year—it also, is an addiction.)
One part of the “study” reads “Season ticket holders are most in the red—27 percent are borrowing with over 22 percent of those owing over $1,000 (GBP) (about $1,600 USD). A balance of $1,500 (GBP) on a credit card charging a 16.9 percent standard APR would incur annual interest of $253.50 (GBP). However, Virgin Money offers 16 months interest free balance transfers on its credit card and is encouraging fans who are paying interest on their cards to ease the pain and switch.” Hmm… no conflict of interest there? I’m afraid I’ve lost even more respect for Sir Richard Branson after that blatant, scavenging slither after indebted sport fans.
For those wondering, the teams that are “causing” the most debt (according to this pseudoscientific study) are the big four: Arsenal, Manchester United, Liverpool and Tottenham. Arsenal racks up the largest average football related borrowings at $1,284 (GBP).
Consumers appear to be kicking back at the high cost:
Thirty percent have resolved to attend fewer live games in the upcoming season because of the cost—up from 26 percent last year.
Despite my personal opinions on the co-marketing of debt and professional sports, we cannot underestimate the role of the Virgin Corporation in professional sports in Europe. If you’ve watched any European sporting event on television, you’ve likely seen the familiar “Virgin” logo of this big-time sponsor. Virgin has tracked the cost of sports fandom since 2006 by producing the “Virgin Money’s Football Fans’ Price Index” which follows the costs of sporting events.
The price index sample of goods tracked include: a gallon of gasoline, a pint of beer, a bacon roll (note to self—must locate and try one of these), a train fare, a match ticket, a replica shirt, pay per view cost, and a game program.
{ 5 comments… read them below or add one }
Interesting post, but you do yourself a disservice by not bothering to proofread your posts before publishing. (Otherwise, you’d have caught that typo in the very first sentence.) Typos and grammatical errors make me question your professionalism and it hurts your credibility. Not trying to slam you, but I read a lot of PF blogs and I must admit many of them are written very sloppily. As a writer myself, it really grates on my nerves.
That’s partially my fault as editor. Where is the typo? (maybe I’m blind)
Soccer is cap’d and shouldn’t be. I’m pretty sure that’s what she’s talking about.
I’m a professional writer myself and write for both print and Web. I’ve never met a professional writer who could turn in a manuscript without a typo–that’s why we’ve got editors! (They keep us writer’s looking good).
It’s a challenge for sure in writing for the Web because there isn’t usually the infastructure that a print publication has. Thankfully here there’s a pretty good team, but you’re right, its a tough typo to spot-that’s how we both missed it.
Claudia must be an editor. 
Thanks Claudia.
When you figure out what a bacon roll is and where to get one, hook us up.
Indeed. I’m on the search for one of these little creatures in the USA. Sounds delish.