Rupert Lowe

I should declare my interests, as on the Register of Members’ Financial Interests, in two football-related businesses as a result of my chairmanship of Southampton football club. We do not have many success stories left, but English domestic football is one of them—so what do politicians want to do? Regulate it, of course. The biggest beneficiary from the success of the Premier League is His Majesty’s Revenue and Customs, through tax and national insurance levied on player and staff wages. That is money flowing out of the beautiful game. Salaries have correlated closely with the growth of broadcasting income, particularly from overseas television rights. Lord Sugar referred to it as the prune juice effect. No regulator played any part in laying the foundations of the world’s most successful league. English football works and has worked for many decades. My message to all Members today is to leave it alone. Football is a risk business, supported in this country by the most passionate fans in the world. It requires a balance between risk taking and business savvy, if the aspirations of the supporters are to be delivered in the form of entertaining, successful football of which they can be proud. Many of the failures in our game, such as Bury under Hugh Eaves and Leeds under Peter Ridsdale, were driven by boards dominated by fans rather than by more logical businessmen. The job of running a smaller club in the premier league is difficult at the best of times—I should know—when competing with clubs that have substantially greater turnover. A regulator will simply make the job of smaller clubs more difficult and limit their ability to take calculated risks to successfully compete for promotion, league position or cup success. It is the larger clubs that will benefit, and the dynamic that has driven the premier league’s success will be undermined.