Football is ‘not enough’… as Wolves hungry for more
Football clubs are relentlessly pursuing new revenue streams around the world to meet rising costs and losses, and Wolves are no different.
Photo Source: Wolves.com
Last year Wolves entered a partnership with Gulf Racing which saw their Porsche car kitted out in club branding for a virtual 24 Hours of Le Mans race.
The club's chairman, Jeff Shi, claimed that marketing the club on the back of football alone was “not enough” if they want to match the revenues of the Premier League’s elite.
This philosophy has also led to a high-end fashion range being launched in Shanghai and, together with the University of Wolverhampton, the creation of an esports team which competes in tournaments around the world.
And Wolves are certainly not the only club to do this.
Bundesliga’s Schalke 04 has a League of Legends team competing in the LEC, the top level of professional League of Legends in Europe. Meanwhile AC Milan entered a high-end fashion collaboration with Roc Nation-owned streetwear label, Paper Planes.
While this may seem bizarre to the ‘traditional’ football fan, it has become somewhat essential in today’s football world (as there’s a statistically significant impact between clubs’ staff expenditures and sporting success).
After the collapse of the European Super League, LaLiga President, Javier Tebas, stated, "This isn't a problem of revenue, these clubs need to reduce their expenses. We don't need to keep increasing earnings so that players can have seven Ferraris instead of six."
However, until governance changes to impose salary caps – clubs will continue to push the limits; meaning clubs like Wolves must carry on breaking new ground.
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