The world is now facing a major proble tha is more critical than terror attacks and natural disasters.This is so because terror attacks and natural disasters have areas of impact and not everybody is directly affected by them though we all feel and share the pain of those involved or those that lost love ones.The financial meltdown cuts across the whole the continent and am sure other planents will notice the effect also.Every home knows where the situation has affected them and we can all bear witness of its effect in our financial institutions,Car industry,and other conglumirates.Sports is not left out of this financila mess as seen by the withdrawal of Honda from this season Formula1 due to financial problem,and the cancelation of AIGs shirt sponsorship of Manchester united Fc.for next season.West Ham Fc. also had thier shirt sponsorship by XL axed when the traveling company went into total administration.Chelsea football club of west london has announced a loss in excess of million of pounds sterling for the third season runing and Liverpoo fc is reported to be in heavy debt in millions of pounds sterling.
The 2010 olympic which will be staged in London is currently facing a major task has spending is expected to be low in construction of sites for the events.Govt are more involved in using task payers money to bail out trapped institution in order to reduce lay offs of staffs by the companies thus reducing unemployement in this critical time.Certain sports events like handball,shooting,wrestling are going to see less fund injected into them due to the financial mess thus limiting the chance of the british team in attaining success in this sports.The cooperate bodies that are expected to patner govt.in funding the olympics are trying to keep thier head above water so not to drown in the financial pool.The only sport body that has been able to keep its head above water is Arsenal fc on london.They once again for the third year running announced profits in excess of millions of pounds sterling and thier weekly income is put at 3.1million pounds on match days alone not to talk about money form tv rights,shirt sponsorship,endorsements and thier Highbury square estate project is said to be mortgage investors hot cake.Arsenal fc has over the years spent less on player aquisation and has made alot of money in sale of players over the years compared to other Europeand football clubs.Majority of European clubs parade squads of million of pounds sterling and get good result,so get fair result and some are not even in contention at all. Arsenal fchas finished in the top 4 of EPL for almost 10 seasons and has one shields in the course though recently of shield drought,but with a substantial squad they have been able to rub shoulders with big spending clubs across europe.The ability to perform well in EPL and UEFA champions leauge with substantial squad asalso been a money generating avenue for Arsenal Fc.Million of pounds is been generated by finishing top 4 in EPL and qualifying for champion leauge group stages and even getting beyound the group statges.Arsenal fc is believed to be the strongest financial football club in europe and thier performance is also a beauty to behold.I wonder if the borsd of this club are consulted to help in this recession it wount e a bad idea.
