Long-term investment ends in triumph – just look at the Lionesses
Everything’s going up, they cry. Well, almost everything. The price of a ticket to watch Arsenal’s women’s team at the Emirates last year was £12. This year it’s come down to £7 or £9, depending on how many games you buy for. Who said you can’t find value in 2023.
The story of women’s football’s growth in this country is a long one littered with misogyny, sexism and underinvestment. The first two have been dealt with by the players; pity the man who confidently pronounces he could have stopped Ella Toone’s top-corner strike in yesterday’s semi final.
The latter has been a joint effort from clubs, league football and commercial partners, including most notably TV.
That investment was, naturally, criticised. But in the medium- and long-term it seems an absolute no brainer it will pay off. Crowds continue to tick upwards; playing numbers are on the up, too. It’s highly likely the next broadcasting deal for the super league, the top level of the women’s game in the UK, will be some way larger than the already ‘multimillion’ deal signed last time. Investment has bred success, success has bred commercial opportunities.
Can you see where we’re going with this column? Investment is sorely lacking in the British economy, and therefore it’s not necessarily a surprise that the UK lags in medium- and long-term growth tables. Ironically, investors are amongst those who don’t always reward investment; witness the share prices of firms like BT, whose big spending plans today have not been given the thumbs up by short-term-focused institutional investors.
The government have also done their damnedest to give firms reasons not to invest. Corporation tax in the UK has been a in recent years, and become stuck at the highest point. Our energy policy resembles a guessing game that even Mystic Meg in her pomp would struggle to predict. Moves to encourage insurance giants and pension funds into the equity markets will help. But more is to be done before the UK economy is in any danger of winning a trophy.