- 09
- Sep
Football clubs may become the latest high profile casualties as consumers continue to do battle with the credit crunch, Virgin Money has claimed.
According to the financial services provider, one in four football fans will have to stay at home on Saturdays this season because they cannot afford to go to see matches live. The Football Fans Inflation Index - which has tracked ticket costs since January 2006 - has found that the average price of going to fixtures has increased 21 per cent in the past three months, taking the typical game pass cost to 106 pounds and 21 pence. Virgin Money pointed out that this is the first time that the average ticket price has breached the 100 pounds barrier.
Following on from this rise, 26 per cent of football fans questioned by the group said they would have to cut back on the number games they go to in an effort to limit the financial burden of following their favourite team.
Supporters who are committed to showing their vocal and financial support to their club may be interested in taking out a personal loan to cover the costs of a season ticket.
Indeed, research from the firm showed that casual and die hard supporters are being equally hard hit, with even season ticket holders saying they expect to go to fewer games to avoid match day costs, even though they have already shelled out for tickets.
Commenting on the trend, Virgin Money representative Scott Mowbray, explained: “Football often seems immune to the real world, existing on its own Planet Football where there is always money for player transfers and salaries and the cash keeps on flowing from TV and sponsorship deals. However, fans do have to live in the real world and the past year has seen severe pressure on people’s finances from rising mortgage costs, fuel prices and food bills. But with merchandise and rail fares also on the rise something has to give and obviously keeping a roof over your head and keeping your house warm outranks going to football matches.”
Meanwhile, Malcolm Clarke, chairman of the Football Supporters Federation, said that the results of the study are very worrying news for football clubs as live attendance revenues are the “lifeblood” of the industry. However, he did concede that in difficult financial circumstances, it was unsurprising that fans were feeling that going to games is a cost they cannot afford. He warned that clubs which raised their ticket prices above the rate of inflation may soon be hit hard by a drop in visitor numbers because of their failure to take into account the financial limits of their fan base.
For those who are keen to attend football matches in person, taking out a personal loan may prove an effective way to keep up support while still managing to meet other areas of financial commitment. Opting for this type of loan may be of particular interest to football families after Virgin Money’s last update showed that many parents are struggling to take their kids to matches because of rising ticket prices.
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