ABSTRACT
While it is correct to question whether the era of globalisation has come to an end, it is undeniable that commerce and capital continue to spread around the globe. One consequence of the era of globalisation was that financially powerful individuals and companies continued to invest in sport. Rupert Murdoch started as an Australian newspaper heir; entered the world of satellite and terrestrial television; started the Australian Rugby League to meet the demands of his company, Fox Network; holds contracts for Major League Baseball coverage; up until 2004 he owned the Los Angeles Dodgers; and continues to be the controlling investor in different companies in different countries, all of which value the rights to broadcast sport. Football clubs have come to depend upon the media income to help pay the wages commanded by their players. Lord Sugar once dubbed this the ‘prune juice economics’ of
the game because all of the money the clubs earned went straight out again in the form of salaries. On average, income from broadcasters accounts for about 40 per cent of the turnover of Premier League sides, but the actual figures vary wildly depending upon the size and success of the club.
