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Villareal's Millionaires Taking Care of Unemployed Fans

Unemployment in the Castellon region of eastern Spain where the Villareal soccer team is located is running at a rate of 14.7%, the highest in the European Union, as Spain endures its deepest economic crisis since Franco was in power (and alive). The Yellow Submarine have a Champions League match with Arsenal coming up for a place in the semifinals and the Villareal management has asked its wealthy players, along with team officials and sponsors to donate to a fund to purchase tickets for unemployed fans. The players intend to step up according to striker Joseba Liorente.

As the economic crisis deepens and unemployment rises both in Europe and North America, expect similar funds to spring up in Europe and promotions in North America. It's a culture difference in operations: North American sports franchises are more likely to have a promotion where unemployed fans get in for free or reduced prices than they are to set up funds to use for subsidizing tickets. Players, however, do use their foundations to subsidize or buy up tickets for donation primarily to children. Expect to see much more of that this year too.

Full post as published by Sports Biz on March 25, 2009 (boomark / email).