Kraft would rather give to charity than invest in European soccer

Kraft would rather give to charity than invest in European soccer
June 27, 2012, 2:55 pm
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Don't worry, Patriots fans. Robert Kraft isn't going to pull a Fenway Sports Group on you any time soon.

Speaking with CNN International from Wimbledon, the Patriots owner said he would rather make a donation to charity than invest millions of dollars in a top European soccer club.

Kraft said he likes all his businesses to stand on their own, and some of the top soccer clubs in the world haven't been able to do that. With exorbitant player salaries and profits that can't keep up, many teams are losing money.

Manchester City, which won the English Premier League, has run up huge losses -- 300 million for the last financial year (the highest figure in English football history) -- to assemble a championship team.

"Manchester City won the championship this year and I hear they're going to lose 156 million," Kraft said. "I would rather give that money to charity if I had it. I want every business to stand on its own."

Kraft could have bought a stake in Liverpool, which was ultimately purchased in 2010 by Red Sox owner John Henry.

Here's more of what Kraft told CNN:
I would only do it, if there was a salary cap. It's the same thing I said three years ago.We could have bought Liverpool before the two ownership groups who preceded us and in the end I don't want to compete in a business where people throw money at something.I want to be able to compete. The fans in Liverpool are awesome and they are expecting to win every year, and if you are competing with people who have different rules then it makes it difficult.We have the resources to do it, it's just I choose not to do it . . . I don't want to be in a business that does not stand on its own, I want every business to stand on its own, and for ego reasons I'm not willing to lose that kind of money.The only way I would go into a sports business is to win. And, I don't think I can compete on an equal footing so I choose not to do it.

Of course, Kraft already owns a soccer team: the New England Revolution. As the team has struggled in recent seasons, local MLS fans have criticized him for not wanting to invest in that team, either.