There are a lot of potless billionaires out there. Men who did not do their homework and thought, because they had a lot of money, that running a Premier League club in England was going to provide even more. Wrong. Liverpool, Manchester City, Newcastle United, West Ham United, here were clubs that were meant to be embarking on bold new adventures, encroaching on the top four or on the title itself, funded by owners who had the resources to match their ambitions. What happened? Reality happened. The new money missed the boat.
The time to invest in English football was half a century ago, when there was a maximum wage and a 60,000 walk-up every week. No television deal or megastore, maybe, but Sepp Blatter's slave analogy would not have sounded so foolish given the employment conditions, and no player turned up his nose at £120,000 a week. In his peak earning years, and this included playing for AC Milan, Jimmy Greaves never earned more than £5,200 - per year. That was the time to turn a profit owning a football club, and nobody even knew who the chairman was. These days, we know not only the owner, but the name of the bank that is about to pull the plug on him, because it is only too obvious where the money goes.
Sorry about this. Today's column was intended to be a little more uplifting, more on the theme of a season of surprises. Liverpool for the title was the tag and it went west the moment the owners, Tom Hicks and George Gillett Jr, decided that they knew more about a footballer's worth to his club than their manager, Rafael Benítez. It is hard to fancy Liverpool to overturn Manchester United and Chelsea now, yet when the summer began, Gareth Barry was set to be Benítez's missing link and, had the club bought him, this could have been their season to evolve from a team capable of impressing in set-piece matches in Europe to one capable of emerging triumphant from the slog of the domestic season.
Instead, the way the move failed reveals much about the parlous state of the clubs under new ownership. At the weekend, Rick Parry, the Liverpool chief executive, said that Aston Villa's asking price of £18 million for Barry was too high. It is not. It is the going rate for an England central midfield player, as indicated by the fees paid by Manchester United for Michael Carrick (between £14 million and £18.6 million depending on success) and Owen Hargreaves (£17 million). Indeed, Barry is an England regular at present; Hargreaves and Carrick are not. Nor is age an issue, because Carrick, Barry and Hargreaves were all born in 1981. Barry is 34 days younger than Hargreaves and 155 days older than Carrick and Villa's valuation, for a player under contract, the captain and an important member of their team, is entirely reasonable.
Yet, privately, what is said to concern Liverpool's owners is Barry's resale value if he signs a four or five-year contract. And there is the key; if a player could be the difference between winning the championship and falling short, why should the eventual return matter? His cost would be reimbursed instantly if the trophy was installed at Anfield, and while that is a big if, so is every transfer of substance.
The resale issue with Barry confirms that there are serious financial concerns at Liverpool, despite the costly purchase of Robbie Keane from Tottenham Hotspur this summer. It has been well documented that Gillett would sell his half of the club at the right price, while Hicks wants to stay in the game. In the City, the word is that an American bank is ready to offer Hicks the funds to buy out Gillett, but not at the figure his partner wants because Gillett is insisting on a 30 per cent profit on the purchase price. Whether a Hicks buyout could resurrect the Barry deal, however, is questionable. If he plays for Villa against FH Hafnarfjördur, of Iceland, in the Uefa Cup tomorrow, and is cup-tied in Europe, Benítez may well give up hope.
Despite Parry's protestations to the contrary, the attitude of Liverpool's owners must greatly frustrate Benítez and threaten his commitment to the club. Funnily enough, in the paddock at Epsom, one rarely sees John Magnier, the head of the Coolmore Stud, overruling his trainer, Aidan O'Brien, so that he can pass instructions to Johnny Murtagh, the jockey; and Magnier knows a hell of a lot more about horses than Hicks and Gillett know of football. It seems bizarre to have an authority, a manager of experience and consistent success, and then ignore his expertise. Benítez must surely have impressed upon his employers the difference Barry would make to Liverpool: he would complete the starting XI.
Benítez is strong in most areas but requires a left-footed partner for Javier Mascherano in front of the back four. Barry is a perfect fit. With him, Liverpool could play the 4-2-3-1 formation that is all the rage right now, with Mascherano and Barry holding, Ryan Babel starting on one flank, Robbie Keane playing the Dirk Kuyt role on the other and Steven Gerrard behind Fernando Torres, with free range. Even the reserve options, Kuyt, Martin Skrtel, Sami Hyypia, perhaps Xabi Alonso, are good. The last piece of the jigsaw is an overused phrase, because even the best teams are in a permanent state of evolution, but Barry, potentially, was the most significant signing of the summer.
To be so close, and then to be distracted by talk of resale values, can only suggest a club perilously close to financial breaking point. Last season, it was believed that Liverpool's owners would struggle to service loan repayments if Champions League football was not secured and with Michel Platini, the Uefa president, intent on reducing the number of fourth-placed qualifiers from the leading countries, this precarious existence will not go away.
The team who finish fourth in the Barclays Premier League will have to play another non-champion from a leading European nation next season. Instead of FC Twente and Standard Liège, this season's opponents for Arsenal and Liverpool, the fourth-placed English team could be up against the likes of Fiorentina or Atlético Madrid, a far greater test.
General concern over the financial future of the club is likely to trouble Liverpool's owners more than the specific long-term worth of one player. At the weekend it was suggested that Benítez would now bid £18 million for David Silva, of Valencia, who plays on the left or as a playmaker behind the front two, the inference being that he has Barry's transfer fee available, but not for Barry. That would be madness. One of the positions Silva plays is already occupied by Gerrard, in the other Benítez has tactical options.
Why would any clear-thinking football business make a sum of money available, have the manager identify a target within that range and then tell him he cannot have the player, but can buy another instead? A year from now, Silva could be an excellent signing, as Liverpool move on, but right now, give Benítez what he wants.
Meanwhile, at Manchester City, Thaksin Shinawatra appears to be using his membership of the Potless Billionaires Club to avoid returning to Thailand, where he faces corruption charges. With many of his assets frozen, he is struggling to meet the costs of Premier League competition and short-term loans were recently required to pay the staff's wages. Kia Joorabchian, the agent, has become increasingly influential, which could also explain the involvement of Paul Aldridge, the chief operating officer, who did such a bang-up job helping to secure Carlos Tévez for West Ham two years ago.
Thaksin was another owner who arrived promising a great leap forward, like Liverpool's Americans and Mike Ashley at Newcastle, whose eagerness to wade into this Premier League jamboree was so great that he failed to complete the due diligence procedure when making his investment and is, as a result, surprised by even the most mundane aspects of football business. Ashley thought that the club owned the players on its their books and was subsequently confused to be told of substantial instalments due on individuals he had already seen in the black-and-white shirt. Latching on to that old phrase about looking after the pennies, he now wants the players to pay for such trivialities as club suits, a saving that might cover the postage the next time Newcastle have to send several million to Real Madrid for Michael Owen.
What these owners have in common is that they did not know football. This is why the business of it is now getting away from them. Pay attention and one will know the going rate for an established international footballer, or appreciate that transfers are paid in instalments and City are unlikely to attract sell-out crowds while mid-table. Roman Abramovich made a success of Chelsea not only because he is insanely wealthy, but because he understood from the start that running and maintaining a very successful football club required such lavish investment that, short term, it was a black hole.
Few can operate at Abramovich's level but, like Randy Lerner at Villa, at least they can be realistic. Those who arrived promising the earth to the fans, and a fast buck to their financiers, have been found out. There are not merely potless billionaires in the Premier League, but some pretty dumb ones, too.
To be fair to the owners Benitez' record in the transfer market is patchy at best. Other than Torres and Mascherano who were both had a sizeable fee and reputation attached when he bought them, who else has he bought that is any better than average.
Charlie Pybus, Manchester,
If the liverpool fans care to take the opinion of someone who has watched Barry play 40 games for us over the last 2 seasons, he is worth every penny of the 18m. Maybe you will realise it if we beat you to 4th spot this season because you dont sign him. Probably not, i know, just maybe....
Matt Shelley, Birmingham, UK
Having just read Martins ARTICLE I agree with everything he has said regarding the circus at Liverpool football club regarding the signing of players.If this had been done to Ferguson he would of walked.I would like to know who is pulling the strings at Liverpool. Why dont they support the manager?
Jack, Warrington, CHESHIRE
Alonso has been garbage for the past two years and the left footed Barry would be the tonic for most of what is wrong for the reds on the field. off it is another story, if we don't rid ourself of hicks and gillette would could easily be spending time with Leeds and forest in the lower divisons.
Jimmy Z, Boston, USA
Liverpool are the most succesful club side in England in terms of major trophies. The majority of Villas successes came in the 19th century. No wonder Barry wants to join a big . Wallasey
RAY O'BRIEN, WALLASEY, MERSEYSIDE
They already have Xabi Alonso who is much better than Garreth Barry! Barry would simply allow him to rotate a little more. I think the Alonso-Mascherano partnership in front of the back four is ideal and is very reminiscent of the Baraja-Albelda partnership that won Benitez the title with Valencia.
Michael Garton, Oaxaca, Mexico
£18million for Barry, plus possibly 80k per week for 4 years = £16 million, total cost of Barry to Liverpool FC is £34 million and Martin Samuel says Hicks and Gillett don't know what they are doing?? He's only rated because he's English, better off investing in good younger players.
John Cunningham, Dublin, Ireland
Last time I checked Barry had two feet, David, from Birmingham. You sound like you're sore that your team are in the second tier of football!
Nigel, Birmingham,
We British just get taken for a ride. Insiders tell me that foreign investors take over clubs, not necessarily to improve the standard of the clubs to win championships, but to arbitrage on land deals to exit big! That's fine! But why must it take a foreigner to come in and teach us how to do it?
Harold, London,
Gareth Barry £18m or Lassana Diarra for £5m?
Adam Redman, Portsmouth, UK
I would like to apologise to Mr Samuel. I made a few posts in the past attacking his views on Liverpool and the media attention we have been attracting.
I would like to say I am sorry, as Liverpool need a kick up the backside right now and he has been absolutely spot on!
Alex, London,
barry is a 8-10m footballer at best, I would love to see the dippers waste another £18m that they cant afford, trying to keep up with man utd, I think its time LFC faced it, you cannot and will not ever be able to compete with united again, so scrap away for 4th place and end up potless again....
Mike , Manchester,
I agree with Martin, Barry is the missing link and the result last night proves and if the Belgians had taken their chances Liverpool would almost have been knocked out like Rangers and all for not trusting their Manager. Had Barry been playing then no doubt Liverpool would have finished the tie.
Faruq, Dubai, U.A.E
£18 mil for a one-footed midfielder? Barry may be a superstar amongst the mediocrity on offer at Villa Park but his limitations will soon show if he's playing alongside top-notch players.
David, Birmingham,
Why no mention on how ManU's owners are/have performed ?
Frank , Yateley, United Kingdom
Forget the figures - since when has Gareth Barry been someone to tilt a title race?! He's a tidy player, that's all, and he's not even one that Liverpool need.
Must try harder next time
Tom, Brussels,
Saying that £18 million for Barry is fair value - because Hargreaves/Carrick cost similar amounts - misses the point.
I'd argue that none of these players was worth that amount - but because they are English and approaching/at their prime, they are a precious commodity & so cost the earth.
Mike, London,
The last time I paid to watch a football match I paid 3 shillings and 6 pence. A big price for a big match. The average player has possession for about 1 minute and 30 seconds so their pay is just stupid. The value placed on them is ludicrous.
Gordon should have a windfall tax on this.
m wilson, bidache, france
Mr Martin Samuel, do you honsetly belive Gareth Barry is a football player worth 18 millions pounds. If you do, then it is you who does 'not know football'.
Joseph, Buckhurst Hill, UK
What seems to overlooked here is that Liverpool cannot afford to pay the full fee no matter what it is. The current offer revolves around 2 stage payments, the 1st being 9 million and the 2nd payment due 12 months after. What does that say about LFC financial state
Kevin, Adelaide, Australia
Liverpool have got a cheek...a couple of years back they were asking about £24m for Barrys' fellow England midfielder off Chelsea. Now they are saying £18m is too much,despite valuing Alonso (who can't get in the team) at £16m and Crouch at £11m.
Ray, Liverpool,
What a dreadful article. There are so many points to take issue with i don't know where to start. Barry is worth the best offer a club is willing and able to pay, which is currently 16m. The fact that the richest club in the world Man Utd paid whatever they did for other players is irrelevant...
Vikr, Newcastle,
the bubble in english football is bursting and money is drying up
dorian, msida, malta
And the writer overlooks the fact that although the 3 players are the same age, Carrick's transfer was 2 years ago and Hargreaves' 1 year ago. The fact they are the same age now is not the point!!
Petchy, Norwich,
I don't agree Martin. Don't the owners have the right to define the broad parameters of their transfer policy and squad building philosophy? If they want the manager to focus on younger players with longer futures and better resale, that doesn't seem unreasonable.
Mike, Houston, USA
James in Manchester,
If Liverpool are trading insolvently (which they aren't) then what does that make the likes of Manchester United and Chelsea, whose combined debts are £1 billion ?
Marc, Liverpool, UK
There's much good comment in this article but just because Manchester United paid 18 million for Carrick and Hargreaves, both who were younger, does not mean that Gareth Barry is the same price. It's daft to say resale worth does not affect the fee. It should.
Tom Earnest, Westcliff,
Martin Samuel is sadly correct. £18 mill for a England midfielder is about right.
Although these players would be worth a third of that price on the continent,' the greatest league in the world' has inflated the price of home grown players.
Mind you our English players were great in the Euros...
chris dee, london,
one problem nobody wants to sign Alonso and thats with Liverpool willing to sell.
pete, birmingham,
Chairmen of these clubs would do well to look at Niall Quinn and Sunderland. He and Roy Keane stay away from each other and let each other get on with their jobs, it has massively contributed to two successful seasons at the club with these at the helm, making far more progress than other such clubs
George, London, United Kingdom
By tis reasoning, Alonso should command a fee of $20-25M, seeing that he is a Spanish International. Surely more valuable than an England International given recent history !!!
Andy, Ft Worth, USA
If Liverpool decide the going rate for their reserve striker is £11m then they are complete hypocrits for saying £18m is too much for Villa's club captain.
They have embarrassed themselves with how they have handled their transfer dealings this summer ... All just to finish 4th again ...
Nick P, London, England
GB as 'golden calf'! Wasn't it only 12 months ago that he was accused of being a stop gap in England's midfield? Now, after 2 decent England games and a late season dip in his club form, he's the chosen one? What about the 100s of others who've failed since 1990. Aren't the owners allowed caution?
Nick, London,
All the protestations that Liverpool fans put up about Barry's age are farcical in the light of the even older, journeyman striker Robbie Keane's £20.3 million fee. liverpool are a basket case of a club on every level. Here's hoping many years of Doug Ellis-style mediocrity are in the offing.
Mick, Cork, Ireland
Martin ignores the economic climate in which the deal is done. It is much harder to get your hands on cash now than it was even this time last year and, as with the rest of the real world (which is, after all, where football must operate), lack of cash means lower prices. I'd rather Alonso anyway!
Chris , Stratford-on-Avon, UK
This is all academic.Liverpool F.C. is insolvent and will be lucky to see the season through to the end.
james allen, manchester , england
You say that Carrick and Hargreaves are the same age as Barry. While this is true, Hargreaves was bought one year ago and Carrick two, therefore, it is not really a fair comparison.
Jake, London,
Gareth Barry is an good player, but less than a year ago, we signed Mascherano for similar money. A player 3 years younger, with more caps, for Argentina (who know a thing or two about football). The premium for English players has become a complete joke. Well done the Americans for seeing sense.
Nigel Ubian, Barcelona,
Ferguson must be laughing himself silly. Not only have Carrick and Hargreaves helped to bring him silver ware but the inflated prices he could afford to pay for them now mean his arch rivals can no longer afford their targets. United payed £30M for Ferdinand, must make Michah Richards worth £30M +.
Jim, London,
For possibly the first time ever, LFC's owners, and Rick Parry have been united in their judgement that Villa are asking too much for Barry.
The shock-horror headline should really read that Hicks-Gillett and Parry agree and are absolutely correct!
At £18m, Barry is clearly £8-10m over-priced.
Bob, Uxbridge, England
Hargreaves and Carrick signed for United one and two years ago respectively, when they were, obviously, one and two years YOUNGER. Are either of them worth 18M now? Probably not. Age IS an issue Martin.
Jerry, Boston, USA
Liverpool don't need to pay £18m for Barry.
He is a good player, but not worth the £18m Villa want for him (no resale value there, just sheer opportunism).
If Liverpool want a good but seemibgly not so over-priced left sided English midfielder, may I suggest another name - Stewart Downing.
Tony, Chester,
Gareth Barry is worth 9 million, but is english so his value doubles. Benitez should look for some good young talent globally, like a certain Mr Wenger who found Viera, Petit, Flamini, Fabregas, Anelka and Toure for combined total less than the price quoted for Barry.
Laurie, Canterbury, uk
Neither Carrick or Hargreaves were first choice internationals or captains of their club, nor left footed and neither had any where close to 300 first team appearances - and about 50 premiership goals to boot and numerous assists!
Jimmy, Isle of Wight, Hampshire
Arsenal haven't bid for Barry because they don't have £18m to spend.
£18m is the going rate for an ENGLAND midfielder because they are proven in the PL. None of players in Spain or Italy are. That's what you pay for, the guarantee that he's a proven player in this league.
Chris, Ipswich,
Nice one Josh Dickson
That means we only got 38 points last season and were relegated. Championships are built on defence and the discipline of midfielders first, which makes a team 'compact' how many goals did Man Utd concede on the way to winning?
L Laryea, Shepperton,
Very interesting article. It just goes to show you should NEVER buy a football club in the hope of making money. Only fools do that. The best chairman in recent years are Sir Peter Hill-wood and Sir Jack Walker. Why, Sir Jack LOVED Blackburn & Sir Peter's family has been with A.F.C for around 50 yrs
richard , gibralter,
do you think united were thinking about the resale value of ronaldo or building a european cup winning team? you got the answer this summer. united don't make money from selling players, they make money from playing football people want to watch.
jem, london, uk
had england been regularly picking carrick and hargreaves ahead of gerrard, barry and (sorry, martin) lampard, they wouldn't have been sitting at home this summer.
jem, london, uk
Martin in all this doom and more doom you've failed to mention the premier example of foreign Premiership ownership – the Glaziers. Not only have they disappointed those who said they were only there to loot Man U, they have brought stability and decisiveness that previously we only dreamt of.
ste, manchester,
Those arguing that Hargreaves' and Carrick's age at the time of sale affects any judgment of their transfer value ignore the fact that it cuts both ways. Barry has more EPL and international experience now then they did then. Age is really only significant negative factor when a footballer hits 30.
Trevor, Cardiff,
The article clearly shows why you are a writer (albeit a decent one) and not a football manager. Age does matter when the you are buying a player, Carrick age 2yrs ago and Hargreaves 1yr ago for their transfer figures. Keane's transfer shows that Barry was not the 'potential' signing of the summer.
Raymond, Leicester, Leicestershire
Of course 18m is too high, all English player valuations are too high, and especially to an internationally reknown manager who can pick up anoverseas player for half that to solve his problem.
We are all saying Benitez is a fool and should be comparing Barry to other Eng Mids. Why? He wont be.
Paul, London,
A fantastic piece of journalism Martin - this was a pleasure to read and represented a moment of true clarity amongst the pre-season madness.
Barney, Liverpool, UK
not only does magnier know more about racing than hicks/gillett know about football he knows more about football than they do which tells you everything you need to know
j loddens, birmingham,
Broadly on the money article. Trouble is, a quadrillionaire with fifty years football experience could buy Man City or Newcastle and it would still end in looneytunes. It defies logic but it's just the way it is.
Tony, Bristol, England
Liverpool are a laughing stock, period.
They will be usurped by Villa within the next three seasons.
Kevin Cooper, Sutton Coldfield, England
Understand the article above, but I don't agree with the asking price of £18million.
Correct me if I am wrong, but does Barry only have 1 year left on his contract?
I am though in agreement, if Rafa rates him at that price and the funds are available, then give Rafa his man.
Steve, Astley, UK
So now whatever ManU pays is the going rate? Hardly. They seriously overpaid for those two english cmids. Using that as justification for Liverpool to pay over the odds for an overrated Barry makes little sense. Liverpool are not going to win the title this season with or without Barry.
Fred Zed, London, UK
I think some of the commenters are missing the point entirely. £15-20M is the going rate for an England midfielder. Nowhere is it claimed that this is justified. That's what you have to pay though justifiable or not.
I think £1.10 is too much for a litre of petrol. I still have to pay it though
Mike, Manchester, England
I'm sure Liverpool already have 4 or 5 quality "missing links" sitting in a central midfield position or should that be sitting on the bench again. 18million for Barry, no wonder I've lost interest in the game.
Kevin, Durham,
When Carrick was bought (aged 2 years younger then Barry is now) many people thought it was too much money. Its known Barry wants to play Champions League if he is that good and worth 18 Million why hasn't someone else stepped in with an offer Arsenal are looking for an experienced player, no bid!
Philip, St Ives, UK
If £18million is the going rate for an england midfielder then they are overpriced as Real just paid £10million for Van Der Vaart one of the best in the world.
It's the huge money from the sky deal that is pushing up the value of english based players making them vastly overpriced.
David , Kilmarnock, Scotland
Graham Smith, what you must understand is that awards are not always representative of quality of product. The justification that Barry is worth 18mill based upon the values of Carrick and Hargreaves are as one reader pointed are inaccurate due to the age difference when the players were purchased
peter , liverpool,
I wonder when the penny will drop for the carpet baggers looking to 'invest' in an Prem football club. Unless you buy MU or Real Madrid, it's unlikely you'll sell for a profit.
Darren, Norwich, UK
yeah, what does Martin Samuel know anyway? He's only won the writer's award for sports 7 times. Let's pay attention to the reader's comments instead, after all they're amateurs, they have to know more than he does.
What was the theme of this article again? I hope Martin is smiling at the irony.
Graham Smith, Shedden, Canada
Behave yourself man "it is the going rate of an England centre midfield player". That statement says it all, if you are good enough to play for England then you MUST be a £25 mill plus superstar?? Hardly, England were at home watching while the real quality teams were playing this summer
peter, glasgow,
The money in Football is an obscenity. Eighteen million the 'going rate' for a midfielder?
There are millions starving on this sick planet.
edwina langton, blackburn,
The time to buy into football was the early 90s when Man Utd were going for around £20M.
I'm not a fan of the American owners but in the case of Barry I think their stance is valid. Keane is a good player but we still lack a quality, left-sided attacking player and have done for years.
David, Glasgow, UK
thanks for the article but I disagree about liverpool. Keane playing wide? I think the waiters pursuit of Barry has been utterly bewildering. He'd be better off adding some genuine width to the side. That way he wouldn't be stuck with such a 'compact' defensive team that only ever draws.
josh dickson, preston, uk
As you know, carrick's 16 mill transfer fee was agreed at an age 2 yrs younger than he is now, and so the fee should have been higher. Hargreaves was a year younger and had been voted england's player of the year. Age matters in football - ask ljunberg. Even shankly was occasionally told no.
andrew, london,
An excellent piece Martin.
I personally could not fathom why Liverpool had took so long to buy Barry. Leaving aside all the normal emotiional angst felt by fans on this issue I was at a loss until recently to understand their thinking. Barry would be perfect for them.
He is for Villa.
Alex Birchley, Birningham, UK