Some of the biggest teams in the world, like the most prestigious tournaments, are funded through clever management.
Football has always been a world of glamour for millionaires, billionaires, super-rich corporations and wealthy private investors.
The sport allows access to a unique global market and carries a certain level of prestige, especially for successful clubs.
Since the 2000s, so-called “oil money” has flowed into the world of soccer, benefiting many clubs around the world.
But what exactly is “oil money” and which clubs will receive the investment? goal Let's take a look at this phenomenon.
What does “oil money” mean?
Petrodollars, as the term suggests, are wealth gained through oil production. Oil Industry.
Typically, the industry focuses on extracting and refining crude oil to produce products such as gasoline, fuel oil, and plastics.
Oil reserves exist all over the world, but the regions most commonly associated with this resource are the Middle East (including countries such as Saudi Arabia and the United Arab Emirates), Russia, and North America.
Football clubs that are said to be oil-financed are those that have received investment from companies linked to the oil industry, or, more commonly, those that have been bought outright by groups or individuals with economic influence deriving from the oil trade.
Which clubs benefit from oil money?
Many clubs around the world benefit from oil money.
One of the earliest and most notable examples of football clubs receiving industry backing were the Premier League clubs. Chelseawas acquired Roman Abramovich In 2003, the Russian businessman invested in the Blues and helped lead the team to success on the domestic and continental stage.
Bundesliga Schalke It has a long-standing contract with Russia's state-owned oil company. GazpromThe partnership, which sees Gazprom appear on the club's shirts and merchandise, was first signed in 2007. In 2016 the sponsorship deal was extended until 2022. Build The Gelsenkirchen team reported that it was worth 150 million euros (£130 million/$170 million).
Gazprom also owns Russian clubs ZenitIt was acquired in 2005 and is now the main sponsor of the Serbian team. Red Star Belgrade Since 2010.
Gazprom not only owns and funds the club, Champions LeagueThe partnership began in 2012 and the European governing body announced in 2018 that it would be extended until 2021.
“Gazprom is not only an industry leader but also has a long history in football,” UEFA spokesman Guy-Laurent Epstein said of the renewed deal. “We look forward to developing our relationship as we enter a new Champions League cycle.”
Some of the world's biggest and most successful clubs had backers who were made rich by oil revenues. real madrid, Arsenal, AC Milan and BenficaFor example, it is sponsored by Emirates Group, a Dubai-based company.
The company also sponsors the Bundesliga. HamburgGreek costume Olympiacos American Team New York CosmosLike Gazprom, Emirates has expanded its involvement in football to sponsor the sport. FA Cup and again Asian Football Confederation.
Manchester City It is also UAE funded and based in Abu Dhabi. City Football Group – Headed by Sheikh Mansour – Club owners. City's main sponsors are Etihad AirwaysThe club's home stadium also bears its name.
Qatar AirwaysQatar, the national airline of oil-rich nation Qatar, is another well-known sponsor seen on the shirts of Argentina's powerhouse team. Boca Juniors Italian capital club RomeBarcelona had a sponsorship deal with Qatar Airways before switching to Japanese internet service provider Rakuten.
French giant Paris Saint-Germain What is owned Qatar Sports Investment Groups and sponsors Fly with Emirates.
With Qatar set to host the World Cup in 2022, it may not be surprising that the company is also a partner of FIFA. World Cup.
Football's oil controversy
The increase in “oil money” investment in football is not without controversy.
Schalke, for example, found itself in a difficult position because of its relationship with Gazprom, which was embroiled in a tense political dispute with the European Union against the backdrop of violence in Ukraine and Syria.
Similarly, clubs owned or sponsored by Middle Eastern state-owned companies are also under pressure. Amnesty International has been a vocal critic of the UAE and has also raised serious concerns about Qatar's treatment of migrant workers ahead of the 2022 World Cup.
In addition to these serious problems, the influx of “oil money” into football has arguably tilted governing bodies in favour of clubs that can now acquire the world's best players and dominate the competitions they compete in. UEFA introduced Financial Fair Play to try to level the playing field, but it has been a difficult process.
Moreover, when iconic institutions such as football clubs with long histories and traditions are transformed into the playthings of billionaires, it has the effect of alienating supporters. While some celebrate the wealth and success that comes with it, others feel disengaged, which gives rise to grassroots movements such as “No to Modern Football.”
As long as the oil industry is entangled in socio-economic and political webs, it is inevitable that there will be controversy for a club whose operations are facilitated by its wealth.
