Red Knights and Dodgy Devils
Just when you thought that football had found every possible way to dominate the headlines, the beautiful game has developed a new twist. The Red Knights, who are seeking to reverse several years of takeovers of British football clubs by wealthy owners through a hostile bid to acquire Manchester United from the American Glazer family, have found themselves embroiled in a new row. One of the leading figures in the Red Knights is Jim O’Neill, chief economist with Goldman Sachs. The Glazers bank with Goldman Sachs. And guess what they are reported to have told the bank? And what the bank have told Jim O’Neill?
How would you feel if your bosses told you that a perfectly legal activity which you enjoyed in your private life had upset one of their clients and that you had to desist? That is probably how Jim O’Neill feels right now. The demand from Goldman Sachs that he cease his association with the Red Knights raises serious questions about both the legal and moral rights of employers to intrude into the private lives of their staff.
A successful and fulfilled modern career is one which integrates the working and personal aspects of our lives. There is no reason to doubt that until this week this is how Jim O’Neill saw his career. But once employers start telling staff what they can and cannot do outside work, it does not just undermine morale and weaken motivation. It puts staff in a position in which they are forced to choose between an ideal which is becoming increasingly important in contemporary society- career satisfaction- and a short term need to preserve income and job security.
And of course it is also so stupid. Jim O’Neill is one of the most highly respected economists in the world. It is reported that he is considering resigning over the affair. Have Goldman Sachs no tools in their kit other than the big stick to resolve this matter? It would serve them right if he did resign. And, in my view it would be great for Manchester United.
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Tags: Employee Rights, Manchester United, Red Knights
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