April 25th, 2021
By Max Lempert
Last week the world witnessed an event that rarely occurs. Billionaire owners of the worlds biggest football (soccer) teams attempted to form a new league and were swiftly denied, by everyone.
The new league would generate incredible profits for the worlds biggest teams. In an effort to make up for significant economic loss due to the COVID-19 pandemic 12 teams from England, Spain, and Italy attempted to break away from the traditional football structure and create their own insular league. The move was met with outrage from seemingly everyone other than the teams themselves, including the fans of the 12 clubs. Announced on Monday April 19th the plans for the league fell apart by midday Wednesday the 21st. Pressure against the move came from nearly all angles: Traditional Media, Social media, Football institutions, National governments, and protesting fans.
Despite extensive planning and the signing of contracts individual billionaire owners started pulling out of the agreement. Once one owner pulled out the rest fell like dominos all not trying to be the last one still involved. A multi billion dollar plan collapsed in dramatic fashion thanks to the world speaking out against it. Billionaires have not faced as dramatic of a loss like this in most peoples memories and it begs the question, do people have more power in the affairs of billionaires than we think? I believe it could be a sign pointing toward the rise of social moral pressure power that people posses.
More discussion questions follow
•Are sports the exception to the rule or do mass movements have a say in the affairs of all big business?
•Governments threatened to step in – would they have if it wasn’t for social uproar? Should they?
•What is the role of big business in supporting small business in the same industry?