If you sold your company for £75 million, would you go buy your local football club?
And I don’t just mean Haslingden St Marys in the West Lancs league or Clitheroe FC in the Northern Premier League.
I’m talking about the equivalent of buying Blackburn Rovers or Burnley, not in todays money, but back in the year 2000.
This is what Simon Jordan did…
He sold he’s mobile phone company for £75 million and bought Crystal Palace – his hometown club – to become the youngest person (at 32) in the world to own a professional football club.
His ambition was to use his business skills to turn Palace into a lean driven machine, who you wanted to get into the premiership and cement their place throughout his tenure.
Unfortunately, Jordan found out trying to change the culture of the people in football is extremely difficult, and when you think you’re getting somewhere you’re stabbed in the back.
Jordan also found out a football club can quickly suck you in, and make you do things that you swore you’d never sanction, and make you financially commit to things that you would never normally do.
In the end Palace and the people involved sucked him dry of all his wealth, but to some degree – near the end – Jordan stuck his head in the sand and didn’t get out whilst he still has some finances.
To be fair, he was trying to do the right things and change how football was run from the inside out, but unfortunately for him, others just wouldn’t let this happen and conspired against him.
Back in 2000 Jordan was the 712th richest man in the country, by 2010 he was skint, like you or me.
It’s not just a book about football, it’s also full of business lessons, both good and bad. Yes, if you’re interested in football read it. But also, if you’re interested in business, read it too.
‘Be Careful What You Wish For’ gets a thumbs up with five stars
Any questions please connect and message me.
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…thank you & see you next time.
