Our poll last week, like many a soccer match, ended in an unsatisfying tie -- readers couldn’t make their minds up about whether China should buy Liverpool Football Club or not.
As businesses go, English Premier League football teams tend to be spectacularly good at losing money. Even success is no guarantee of profits. Star players command salaries out of all proportion to the revenues of most clubs, with the result that a team like Liverpool, a Champions League winner in 2005, is indebted and struggling to find a buyer.
The club’s American owners have only made things worse. The leveraged debt they used to buy the club in 2006...
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