How can you sell something you never actually paid for? How is it possible to make profit without risk or jeopardy, or indeed any sign of expertise along the way? What is this miracle commodity, this blend of metal, plastic, turf and other people’s monetised joy?
Welcome to football capitalism 101 and the metaphysical puzzle of the Glazer ownership of Manchester United. No wonder they call leveraged buy-outs the beautiful game. It is, in the end, one you just can’t lose.
