Minted and bored? DonâÂÂt despair, you can always buy your own football club/playboyâÂÂs plaything. But before you hand over that suitcase of cash, consult takeover whiz Keith Harris.
A trained economist and former chairman of the Football League, Harris acted as a key advisor to the likes of Roman Abramovich, Randy Lerner, Eggert Magnusson and Thaksin Shinawatra. What they did with the clubs then was up to them.
Who better to take us through the process. Pay attention at the back!
Step 1: Speak to the experts
âÂÂApproach a firm that deals with finances and knows how to buy a club, such as an investment bank. They have teams of accountants and lawyers all trained to help you get the best deal.âÂÂ
Step 2: Show me the money
âÂÂDetermine how much you want to spend, and remember that the initial sum you pay to buy a club is only the start. YouâÂÂll also have to invest in players, a new stadium, and infrastructure like youth set-up and training facilities.âÂÂ
Step 3: Assess the clubâÂÂs financial health
âÂÂThe value of a club is determined by a number of factors: whether they own their ground, the value of their playing squad, the wage bill and third-party debts. You donâÂÂt want to pay ã100 million for a club only to find out that itâÂÂs ã50 million in debt.âÂÂ
NEWS: Half Premier League clubs are "insolvent"
Step 4: Meet the owners/state your intentions
âÂÂWith shareholders, you need to demonstrate that you have the interests of the club at heart. What are your plans for the ground? Are you looking to invest in the playing squad? Will the prices of tickets go up? Only once youâÂÂve convinced everyone of your good intentions will your offer go through.âÂÂ
Step 5: Take the test
âÂÂThe Premier League and the FA administer a âÂÂFit and Proper Persons Testâ on any would-be owner. The test will ascertain whether his (or her) money is the result of some criminal enterprise, such as drug running, arms dealing or fraud. Essentially, anyone with a criminal conviction is precluded from buying a club in this country. But itâÂÂs not something you have to pass per se. As long as you donâÂÂt fail, youâÂÂll get the go-ahead.âÂÂ
Step 6: Finalise the paperwork
âÂÂThere is a contract drawn up called The Sale and Purchase Agreement where one party agrees to sell and the other agrees to buy. When itâÂÂs signed, the money changes hands and the old owner gets money and the new owner gets the shares.âÂÂ
Congratulations... you now own a club.
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For the full Rich List, see FourFourTwo magazine, out now. If quoting, credit FourFourTwo magazine and link to FourFourTwo.com.
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