Business Quote by Simon Jordan
“In the crisis over ITV digital in 2002 for instance, the incompetence was staggering. EFL clubs were signed to a broadcast deal with a startup business that had no funding, no parent company guarantees from ITV, and clubs got royally shafted for millions when it inevitably failed.”
About This Quote
Source Interview: Sky Sports, 2003
A poorly funded, under‑guaranteed broadcast deal caused massive financial loss for football clubs, highlighting the risks of reckless partnerships.
In simple terms: Bad deals with weak backing cause huge losses.
Key Takeaway
Vet partners and secure guarantees.
Themes
risk management
finance
sports business
Mood
cautionary
critical
Type
business
sports
When to use this quote
- club budgeting
- contract negotiations
- investment decisions
- media rights deals
Key Concepts
economics
corporate governance
Questions to Reflect On
- What safeguards could prevent such failures?
- How can clubs balance opportunity with risk?
A Different Perspective
The quote may not consider that some clubs benefited despite the failure.
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