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For all the talk of how ultra-wealthy, state-backed clubs have conquered European football, this year’s Champions League final offers a blast from the past, with two fan-controlled teams vying for the game’s top accolade.
儘管人們都在談論由超級富豪和國家支援的俱樂部如何征服歐洲足球，但今年的歐洲冠軍聯賽(Champions League)決賽卻帶來了一股懷舊之風，兩支由球迷控制的球隊將爭奪這項最高榮譽。
The match between Real Madrid and Borussia Dortmund, which will be played in front of 86,000 fans at Wembley Stadium on Saturday night, is the first time since 2017 that Europe’s biggest final will be without at least one team owned by billionaires or a sovereign state.
週六晚上（北京時間週日凌晨）在倫敦溫布利體育場(Wembley Stadium)，皇家馬德里(Real Madrid)和多特蒙德(Borussia Dortmund)將在8.6萬名球迷面前進行比賽，這是自2017年以來，歐洲最大的決賽中，第一次沒有至少一支由億萬富翁或主權國家擁有的球隊。
Real will be gunning for a 15th European title, while Dortmund, the underdogs, could win their second. To reach the final, both had to overcome an opponent bankrolled by a petrostate. The Spanish champions edged past Abu Dhabi-backed Manchester City in the quarterfinals, while Dortmund saw off Qatar-owned Paris Saint-Germain in the semis.
皇家馬德里將爭奪第15個歐洲冠軍，而多特蒙德這支處於弱勢的球隊則有機會贏得他們的第二個冠軍。爲了進入決賽，兩隊都必須戰勝由石油國家資助的對手。西班牙冠軍在四分之一決賽中險勝阿布扎比(Abu Dhabi)支援的曼城(Manchester City)，而多特蒙德在半決賽中擊敗了卡達擁有的巴黎聖日耳曼(Paris Saint-Germain)。
On the pitch, it’s clear that Europe’s old guard can still compete with the best of football’s nouveau riche, while governing bodies now acknowledge that checking the might of sovereign wealth is vital for the long-term health of the game.
在球場上，歐洲的老牌勁旅顯然仍能與足球新貴們一較高下，而管理機構現在也認識到，遏制主權財富的力量對於足球運動的長期健康至關重要。
Of course, Real and Dortmund are hardly paupers. According to Deloitte, the Spanish champions had the highest revenue in world football last year, while the German side ranked 12th.
當然，皇家馬德里和多特蒙德都不是窮隊。根據德勤(Deloitte)的數據，去年這支西班牙冠軍隊的收入在全球足球中排名第一，而德國的多特蒙德則排名第12。
Despite being member-owned, Real have still been able to bring in capital from outside investors through a partnership with US private equity firm Sixth Street, and have had no trouble in attracting and paying top players such as England’s Jude Bellingham, who signed last summer from Dortmund for €100mn. He is set to be joined imminently by French superstar Kylian Mbappé, who is quitting PSG in search of the European glory that has eluded the club despite Qatar’s billions.
儘管是會員制的，皇家馬德里仍能透過與美國私募股權公司Sixth Street的合作，從外部投資者引入資金。他們在吸引和支付像英格蘭的裘德•貝林厄姆(Jude Bellingham)這樣的頂級球員方面也毫無困難，貝林厄姆去年夏天以1億歐元從多特蒙德轉會而來。法國超級巨星基裏安•姆巴佩(Kylian Mbappé)也即將加入皇馬，他正離開巴黎聖日耳曼隊(PSG)尋求歐洲榮耀，儘管卡達已投入數十億資金，但該榮耀一直未能實現。
In home leagues, state-backed clubs remain dominant. Manchester City just notched up a sixth Premier League title in seven years, while Paris Saint-Germain have now added 10 French championships to the trophy cabinet since being bought by Qatar Sports Investment in 2011.
在國內聯賽中，國家支援的俱樂部仍然佔據主導地位。曼城在過去七年中贏得了六次英超聯賽(Premier League)冠軍，而自2011年被卡達體育運動投資收購以來，巴黎聖日耳曼已經獲得了10個法國冠軍。
As ever in football, luck played a vital role in shaping Saturday’s contest. Real needed a penalty shootout to beat City in the quarterfinals, while Dortmund withstood a barrage of attacks from PSG in the semis. There was a moment in time when a Qatar vs Abu Dhabi finale looked more likely than not.
與往常的足球比賽一樣，運氣對於週六的決賽對陣起到了至關重要的作用。皇家馬德里在四分之一決賽中透過點球大戰才擊敗曼城，而多特蒙德在半決賽中頂住了巴黎聖日耳曼隊的猛烈攻勢。曾有一刻，卡達對陣阿布扎比的決賽似乎更有可能上演。
But as football’s governing bodies start to put the squeeze on spending, the financial firepower of state-owned clubs should, in theory, lose some of its potency.
但隨著足球管理機構開始限制開支，理論上，國有俱樂部的財務實力應該會有所減弱。
In the Premier League — where 115 allegations of spending rule breaches still hang over City — a new financial regime is on the horizon. Next week, clubs will vote on potential reforms, including one to limit spending by top teams depending on income generated by those at the bottom.
在英超聯賽中，曼城仍面臨115項違反支出規則的指控，新的財政制度即將出臺。下週，各俱樂部將對可能的改革進行投票，其中包括一項根據底層球隊的收入來限制頂級球隊的支出。
This season saw the introduction of new financial rules by Uefa, European football’s governing body, that limit the amount a team can spend on its playing staff to 90 per cent of revenue. The “squad cost” rule will be tightened next season to 80 per cent of income, and again the following year to 70 per cent.
本賽季，歐洲足球管理機構歐足聯(Uefa)引入了新的財務規定，限制球隊在球員工資上的支出不得超過收入的90%。下個賽季，「球隊成本」規定將進一步收緊至收入的80%，再在接下來的一年降至收入的70%。
Such rule changes will not make European trophies more accessible to a wider group of clubs. Indeed some of them, such as the squad cost rule that ties spending to revenue, are more likely to cement the status quo by making it harder to break into the elite.
這些規則的改變並不會使更多俱樂部更容易獲得歐洲獎盃。實際上，某些規則，如將支出與收入掛鉤的球隊成本規則，更可能透過增加進入精英圈的難度來鞏固現狀。
Uefa already rewards a club’s pedigree. About a third of Champions League prize money is allocated based on performance in the tournament over the previous five years. That’s why Saudi-owned Newcastle United’s earnings from its appearance in the group stages of the contest this season were significantly lower than those of Champions League regulars.
歐足聯已經根據俱樂部的歷史戰績進行獎勵。歐洲冠軍聯賽的獎金中約有三分之一是基於球隊過去五年在該賽事中的表現來分配的。這就是爲什麼沙烏地擁有的紐卡斯爾聯隊(Newcastle United)本賽季在小組賽階段的收入明顯低於那些常年參加歐洲冠軍聯賽的球隊的原因。
Lax financial regulation left the door open for City and PSG to buy their way into football’s elite. A tightening of the rules will test whether new money can still change the sport’s balance of power.
寬鬆的金融監管爲曼城和巴黎聖日耳曼隊買通了進入足球精英階層的大門。規則的收緊將檢驗新的資金是否仍能改變這項運動的力量平衡。