Collymore's twitter rant about "football snobbery" was misplaced

The gulf between critic and fan.

When Stan Collymore says something, people tend to listen. More accurately, perhaps, people have no choice but to listen as the former Liverpool striker and enfant terrible has one of the most distinctive styles of any UK based broadcaster.

To be completely fair, such is the vanilla flavour of much of the content available on the airwaves, it is fair to say that Collymore and his talkSPORT radio presence provides good value.

The 42-year-old spent much of 2012 uprooting previously anonymous students and bringing their deluge of racist abuse to light. In many ways, to his vast credit, his one man war has done much to ensure that the casual fan thinks twice before launching into a flow of offensive bile.

In 2013, Stan has a new war, and with it, a different foe. It is increasingly apparent that Collymore’s biggest bugbear is what he perceives as a deep-rooted snobbery from football bloggers masquerading as writers, directed at a wide variety of pundits.

As a relevant, former pro, Collymore has taken upon himself to defend the honour of those pundits who have taken no small amount of stick from the keyboard warriors and blogging snobs; “Whose major selling point is usually a degree of some sort.”

One could argue that perhaps such qualifications are better for a career in sports journalism than ill-fated spells at Fulham, Bradford and Aston Villa but that is neither here nor there.

Collymore has not always been the most self-aware individual. As recently as 2006 he spoke up the prospect of making a return to top-level football requiring, in his mind, only a month of preparation to get back up to Premier League standard.

Nevertheless, despite his dubious track-record for public proclamations, his strangely formatted Twitlonger post, stumbles across a particular sticking point, despite being largely wrong in his conclusions.

He is right to suggest that Twitter provides football fans an unparalleled stage for delivering misinformed, tribalistic and unpleasant comments to an array of public figures, but, having reignited his career on the platform, Collymore is hard pushed to complain when he encounters a bit of non-offensive hostility from his 375,000 followers.

At times, Collymore’s piece is beyond parody- the broadcaster coming across as punch-drunk from the amount of abuse he has endured via social media, to create a paranoid ‘black is white’ argument.

His fierce defence of the football pundit is a perfect illustration of the breakdown between the average fan and any number of bumbling former pros plying their "trade" on TV sofas each weekend.

Are we as consumers and subscribers wrong to expect some sort of quality control from our panellists? Do we not have the right to be a touch embarrassed when Ray Parlour fails to grapple with Guillem Balague over the merits of the Premier League or when David Pleat fails to pronounce the name of a single Juventus player correctly?

Instead of accepting that former players are given a humongous advantage in terms of getting on in the media, Collymore attacks what he perceives as the self-entitlement of the bloggers and writers, many of whom, least we forget, are writing for nothing and to a tiny audience.

“A degree in journalism gives them the belief that their hard University work and study should somehow put them automatically in the front of the line for a plum job in whichever industry they choose. And in football, the number who think this way is increasing.[sic]”

You have to accept his premise that an erudite and expressive footballer with a strong television presence is going to carry more immediate respect from an audience than a journalist without a football background. But what happens when said player erodes that goodwill with season after season of poorly prepared rubbish?

I would like Stan to enter into one of the oft-referenced internships with a site like Goal.com or Football Fancast- websites designed to provide content from football fans and aspiring journalists- the vast majority of whom will never achieve a by-line in a national paper or even attain work experience in a Sky Sports studio.

I know from personal experience that any sense of entitlement evaporates pretty swiftly at 3am on any given Wednesday when you’ve committed to writing three pieces that day and are due at work in less than five hours. If Stan were to complete one of these schemes, all the time watching Jimmy Bullard struggle to string four words together on Soccer Special, he might realign his argument.

Instead, Collymore latches onto Gary Neville as a prime example of a former player turned brilliant pundit, but for every respected former England full back he provides, I could throw Robbie Savage, Don Goodman and Jimmy ‘this is what we in the game call’ Armfield back at him by way of retort.

Despite his merits, had he not been a footballer, Stan Collymore is highly unlikely to have ‘made it’ as a broadcaster- his colourful past and mercurial talents as a footballer remain his unique selling point. That he is outspoken and confrontational is only something he has been allowed to develop once afforded his own platform- obviously something your garden variety graduate is not afforded.

“Well, I've been interested in broadcasting since childhood” proffers Collymore. Well, to be fair, I’ve been interested in cinema since I was a kid- does that entitle me to play Jason Bourne?

Collymore, and others, need to accept that football and journalism are completely independent from one another and to be proficient at the former does not guarantee success in the latter. The ‘entitled’ bloggers know this already- they’re just waiting for Stan to catch up.

Stan Collymore. Photograph: Getty Images

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Labour's investment bank plan could help fix our damaging financial system

The UK should learn from the success of a similar project in Germany.

Labour’s election manifesto has proved controversial, with the Tories and the right-wing media claiming it would take us back to the 1970s. But it contains at least one excellent idea which is certainly not out-dated and which would in fact help to address a key problem in our post-financial-crisis world.

Even setting aside the damage wrought by the 2008 crash, it’s clear the UK’s financial sector is not serving the real economy. The New Economics Foundation recently revealed that fewer than 10% of the total stock of UK bank loans are to non-financial and non-real estate businesses. The majority of their lending goes to other financial sector firms, insurance and pension funds, consumer finance, and commercial real estate.

Labour’s proposed UK Investment Bank would be a welcome antidote to a financial system that is too often damaging or simply useless. There are many successful examples of public development banks in the world’s fastest-growing economies, such as China and Korea. However, the UK can look closer to home for a suitable model: the KfW in Germany (not exactly a country known for ‘disastrous socialist policies’). With assets of over 500bn, the KfW is the world’s largest state-owned development bank when its size is measured as a percentage of GDP, and it is an institution from which the UK can draw much-needed lessons if it wishes to create a financial system more beneficial to the real economy.

Where does the money come from? Although KfW’s initial paid-up capital stems purely from public sources, it currently funds itself mainly through borrowing cheaply on the international capital markets with a federal government guarantee,  AA+ rating, and safe haven status for its public securities. With its own high ratings, the UK could easily follow this model, allowing its bank to borrow very cheaply. These activities would not add to the long-run public debt either: by definition an investment bank would invest in projects that would stimulate growth.

Aside from the obviously countercyclical role KfW played during the financial crisis, ramping up total business volume by over 40 per cent between 2007 and 2011 while UK banks became risk averse and caused a credit crunch, it also plays an important part in financing key sectors of the real economy that would otherwise have trouble accessing funds. This includes investment in research and innovation, and special programs for SMEs. Thanks to KfW, as well as an extensive network of regional and savings banks, fewer German SMEs report access to finance as a major problem than in comparator Euro area countries.

The Conservatives have talked a great deal about the need to rebalance the UK economy towards manufacturing. However, a real industrial policy needs more than just empty rhetoric: it needs finance. The KfW has historically played an important role in promoting German manufacturing, both at home and abroad, and to this day continues to provide finance to encourage the export of high-value-added German products

KfW works by on-lending most of its funds through the private banking system. This means that far from being the equivalent of a nationalisation, a public development bank can coexist without competing with the rest of the financial system. Like the UK, Germany has its share of large investment banks, some of which have caused massive instabilities. It is important to note that the establishment of a public bank would not have a negative effect on existing private banks, because in the short term, the UK will remain heavily dependent on financial services.

The main problem with Labour’s proposal is therefore not that too much of the financial sector will be publicly owned, but too little. Its proposed lending volume of £250bn over 10 years is small compared to the KfW’s total financing commitments of  750 billion over the past 10 years. Although the proposal is better than nothing, in order to be effective a public development bank will need to have sufficient scale.

Finally, although Brexit might make it marginally easier to establish the UK Investment Bank, because the country would no longer be constrained by EU State Aid Rules or the Maastricht criteria, it is worth remembering that KfW’s sizeable range of activities is perfectly legal under current EU rules.

So Europe cannot be blamed for holding back UK financial sector reform to date - the problem is simply a lack of political will in the current government. And with even key architects of 1980s financial liberalisation, such as the IMF and the economist Jeffrey Sachs, rethinking the role of the financial sector, isn’t it time Britain did the same?

Dr Natalya Naqvi is a research fellow at University College and the Blavatnik School of Government, University of Oxford, where she focuses on the role of the state and the financial sector in economic development

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