Premium: Lessons from English soccer, ultimate example of a truly free market

Among many reasons for the growing success of English soccer's Premier League is its absolute meritocracy. This also reflects benefits derived from a truly free market – one where rewards are directly proportional to performance. To prove the point, capital keeps flowing in..Two weeks ago, Czech billionaire Daniel Kretinsky (above) paid £160m for 27% of high flying West Ham United, valuing the club at six times what its controlling shareholders paid in 2010. In October, Saudi Arabia's sovereign wealth fund paid £305m for control of bottom club Newcastle United..An even better reflection of the unfettered system's success is growth in an appreciative global audience. For instance, over the weekend NBC paid $2.7bn for rights to screen Premier League games in the US for the next six years – triple the price it paid in 2015..___STEADY_PAYWALL___.On the other hand, when performance dips, retribution is swift. For instance, directors of Manchester United held an emergency Zoom board meeting on Saturday during the second half of the club's 4-1 defeat by strugglers Watford. Before that game had ended, its manager, club legend Ole Gunnar Solskjaer had been sacked..More for you to read today:.* I feel double crossed – Mashaba. Sunday Times reports on ActionSA founder's anger that his path to become Joburg's Mayor is being blocked by the DA's national executive..* Helen Zille: Here's what really happened in Joburg coalition discussions. "We are sticking to our commitment. We have not doiuble crossed Herman Mashaba or anyone else.".* John Steenhuisen: We can't give the EFF backdoor control of Joburg. DA's leader says an opposition coalition headed by Herman Mashaba as Mayor would be dependent to EFF to govern..* Marriott's Broken China. The hotel apologises for refusing to host a Uighur conference. Comment by the Editorial Board of the Wall Street Journal..NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via Biznews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com.If you'd like to help sustain our independent voice, why not share the love by making a gift that keeps giving? Click here to access the BizNews Premium subscription signup form, and be sure tick the relevant box (see below). At R100 a month and inclusive of full membership of The Wall Street Journal, it's a mind-expanding gift at an incredibly modest price.

Premium: Lessons from English soccer, ultimate example of a truly free market

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