Thursday 10 September 2009

The value of great management


When Fabio Capello was given the England manager's job in 2007 there were some eyebrows raised about his salary, reported to £4.8 million a year and rising to £6 million a year. It could cost the FA £26 million to 2012.

As the Daily Telegraph put it: "Capello is on a multi-million-pound bonus to turn players who struggled to conquer Andorra last season into world-beaters within 800 days."

Well, maybe he has done just that. After last night's 5-1 victory over erstwhile England conquerors Croatia, England have qualified comfortably for the 2010 World Cup in South Africa, and can now start counting the likely dividends of qualification.

It is reported that it could be worth around £100 million to English football, and could boost the UK economy to the tune of £1 billion. No wonder Scot Gordon Brown immediately pledged his support for the English football team in the finals!

The possible riches now put Capello's salary into perspective and demonstrate the value of good management.

I guess the banks might like to argue the same thing. The trouble is the managers of UK's banks look rather more like Steve McClaren than Fabio Capello at the moment.

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