A Religious Injunction Regarding Football Given by a Particular Jurist

This is an extremely fine matter to comment on. Many jurists, such as Mufti-e-Azam of Pakistan, Moulana Rashid Ahmed Ludhyanwi have gone to the extreme. His point of view is as follows:
Firstly, he defines the words `physical exercise' into two.
a) One which is apparently linked with jihad.
b) And one which has no apparent link.
Mufti Rashid Saheb places football in the latter category. He then goes on to state, "For football to be permissible, due to it being linked with the latter group of physical activities, there are many pre-requital conditions, which need to be studied.
Firstly, there are three conditions:
1. There should be no physical or financial loss.
2. The person who takes part in such activities, himself, should not be encountering any loss, nor those who are participating with him.
3. The aspect of futile entertainment should not be dominant.
For the former two conditions he puts forward two ahaadith from which he puts forward his deductions.
The Holy Prophet has stated:
"Every play from which pleasure is gained is baseless (impermissible) apart from the practicing of bows and the training of horses or playing with his wife. Verily, these are permissible."

UPDATE: Ayn Rand wouldn't make a very good mufti. (Thanks to Josh Ellison for the link!)