Baseball is not the only sport facing a financial crisis

Soccernet, my favorite place to follow the Liverpool FC, has an excellent feature article today on the Italian crisis and the warning this provides to the Premiership. Clubs, in short, are far too dependent on TV revenues that may dry up in the very near future as ambitious contracts handed out by the broadcasters are falling far short of forecast. Clubs, though, are not necessarily getting the message–Real Madrid is seeking to sign Arsenal star Patrick Veira for a record UKP50 million.