( CNN ) -- New England Patriots owner Robert Kraft would rather make a donation to charity than invest millions of dollars in a top European soccer club because the economics of football make no business sense . Analzying football 's business model , Kraft insisted he would not follow the example of Abu-Dhabi owned English Premier League winners Manchester City , which has ran up huge losses -- $ 300 million for the last financial year ( the highest figure in English football history ) -- to assemble a championship team . `` Manchester City won the championship this year and I hear they 're going to lose $ 156 million . I would rather give that money to charity if I had it . I want every business to stand on its own , '' the 71-year-old , told CNN . In the U.S. team sports such as American football , basketball and baseball are governed by a salary cap , which limits the amount of money a team can spend on players ' wages . It was the absence of such a salary cap in the Premier League that deterred Kraft from investing in Liverpool , which was ultimately purchased in October 2010 by the Kraft Group chairman and CEO 's compatriot John W Henry -- the owner of the Boston Red Sox baseball franchise -- from Americans Tom Hicks and George Gillett . Football culture : Warrior or tika taka technician ? `` I would only do it , if there was a salary cap . It 's the same thing I said three years ago , '' said Kraft , who completed a then record purchase of NFL franchise the Patriots in 1994 . `` We could have bought Liverpool before the two ownership groups who preceded us and in the end I do n't want to compete in a business where people throw money at something . `` I want to be able to compete , '' added Kraft . `` The fans in Liverpool are awesome and they are expecting to win every year , and if you are competing with people who have different rules then it makes it difficult . '' Drogba deal : China 's vanity project ? The former Patriots season-ticket holder argued that the lack of a salary cap combined with other clubs ' decisions to run up significant levels of debt ensured that there was not a level playing field in English football . `` We have the resources to do it , it 's just I choose not to do it. , '' said Kraft , who was speaking in London , where he is taking in the tennis at Wimbledon for the 38th consecutive year . `` I do n't want to be in a business that does not stand on its own , I want every business to stand on its own , and for ego reasons I 'm not willing to lose that kind of money . `` The only way I would go into a sports business is to win . And , I do n't think I can compete on an equal footing so I choose not to do it. `` Elsewhere in the English Premier League , Tottenham 's Wales international Gareth Bale has signed a new four-year contract with the London club .
Tom Hicks would rather give $ $ 300 million m to charity than invest it in soccer . the New England Patriots is the owner of NFL franchise EPL . The 71-year-old has considered purchasing Kraft team Liverpool . Kraft said the absence of a salary cap in English football put him off investing .