A friend of mine once tried to do business with a revered institution of English football. "I can do business with stupid people," he said afterwards, "and I can do business with crooks. But I can't do business with stupid people who think they are crooks."

Anyone reviewing this summer's events will be struck by the incompetence of the football industry. There is Leeds United, debt-ridden in the third tier of English football after blowing fortunes chasing global domination. There is the new Wembley stadium, finished years late and millions over budget. There was Carlos Tevez, the player who appeared to be "owned" by his agent rather than his club, in breach of football regulations. I could go on, but similar things happen every summer. The foreign businessmen now buying English clubs should be warned: as surely as oil is part of the oil industry, incompetence is part of the football industry. This is why: