Arsenal: Players cannot ignore credit crunch

July 15, 2008
LONDON, July 15 (Reuters) - Soccer players and clubs in Europe need to wake up to the realities of the global credit crunch by reining in their wage and transfer fee expectations, the head of one of England's leading teams said on Tuesday. As Premier League wages burst the £1billion mark for the first time, Peter Hill-Wood, chairman of Arsenal, said the days of easy money had come 'to a pretty sudden end.' The warning came despite rising revenues from television coverage of English and European ...

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