Thursday briefing: Lord Ashcroft’s son takes on father’s minority stake in Tottenham Hotspur

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Thursday briefing: Lord Ashcroft’s son takes on father’s minority stake in Tottenham Hotspur

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Newcastle United weigh up £1 billion financing for stadium redevelopment

Everton and Leeds United reached settlement after Merseyside club’s PSR breach in 2021/22

FIFA set to decide against 64-team World Cup in 2030

25 September 2025 - 4:30 AM

Andrew Ashcroft, the son of British-Belizean billionaire Michael Ashcroft, has taken over his father’s 3.4 per cent stake in Tottenham Hotspur, as reported by The Guardian.

On 19th September, Andrew bought 8,023,942 shares in the Premier League club. While further terms were not disclosed, the investment was reported to be worth around £100 million.

Minority shareholders account for 13.42 per cent of Spurs’ ownership, with the club majority owned by ENIC since 2001. Ashcroft’s stake in the North London club is considered to be the largest of the minority shares.

Spurs not for sale

Earlier this month, Spurs insisted in a statement that the club was not for sale, after confirming interest from multiple parties in a potential takeover.

Following the recent departure of Daniel Levy as chairman, two consortiums made initial approaches to the club, one of which was being led by former Newcastle United director Amanda Staveley. The second group, comprising American and Chinese investors, was being led by Roger Kennedy.
 

 

Newcastle United weigh up £1 billion financing for stadium redevelopment

Newcastle United are exploring options for the potential redevelopment of St James’ Park or construction of a new stadium, as reported by Bloomberg.

The Premier League club have held talks with lenders over funding for the potential redevelopment, which could cost around £1 billion as part of a package that includes part equity and part debt.

Last year, the club revealed it was aiming to make a decision on its stadium plans by early 2025.

Talks at an early stage

In August, Newcastle’s plans for a renovation of their Darsley Park training ground received approval from the local North Tyneside Council, as the club continues to look to enhance its infrastructure.

A new venue would see the club move away from the 52,000-seat St James’ Park, where the team have played since 1892. However talks are currently at an early stage, with no guarantee of a final agreement being reached.
 

 

Everton and Leeds United reached settlement after Merseyside club’s PSR breach in 2021/22

Earlier this year, Leeds United and Everton reached a settlement relating to the Merseyside club’s profit and sustainability rules (PSR) breach during the 2021/22 season, The Athletic has reported.

Everton were found to have breached the Premier League’s PSR in November 2023, after determining that the club had exceeded £105 million in cumulative losses over a three-year period by £19.5 million.

At the end of the 2021/22 season, Leeds finished one place below Everton in the table. Burnley meanwhile, who finished two places below Everton that year and were subsequently relegated to the Championship, are currently embroiled in a legal battle with the club, alleging lost earnings.

Terms not disclosed

Leeds, who avoided relegation that year, considered taking similar action to Burnley, but were unsure whether their case would be strong enough to result in a trial. This prompted the Yorkshire club to reach an out-of-court settlement with Everton.

Although the terms of the settlement were not disclosed, Leeds received around £2 million less than Everton, as per the Premier League’s table of merit payments for the 2021/22 campaign.
 

 

FIFA set to decide against 64-team World Cup in 2030

FIFA is set to opt against expanding the men’s World Cup to 64 teams for 2030, despite holding a meeting on the matter this week, according to The Guardian.

On Tuesday, FIFA president Gianni Infantino met with a number of leading South American figures, including the heads of state of both Uruguay and Paraguay, the president of South American football’s governing body Conmebol, and the presidents of Argentina’s, Uruguay’s and Paraguay’s respective football federations.

During the meeting at Trump Tower in New York, representatives from Paraguay, Uruguay, and Argentina claimed that they would have the ability to host all group stage fixtures in a 64-team tournament.

FIFA doubts feasibility of 64-team tournament

The proposal was informally put forward by the Uruguayan Football Association (UAF) in March this year, and was first presented to FIFA the following month.

Despite the meeting, FIFA holds doubts over the feasibility of a 64-team World Cup. Next year’s edition of the competition in the US, Canada and Mexico will comprise 48 nations for the first time, up from 32 at the Qatar World Cup in 2022.

Wednesday briefing: PSR to remain in place following Premier League shareholders’ meeting

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Wednesday briefing: PSR to remain in place following Premier League shareholders’ meeting

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Aston Villa set to name Roberto Olabe as president of football operations

Bayer Leverkusen and VfL Wolfsburg parent companies invited to review of 50+1 rule

AC Milan and Inter Milan appoint Foster + Parters & Manica to design new stadium

Spanish club CF Intercity approves €60 million investment

USL secures strategic investment from BellTower Partners

24 September 2025 - 4:30 AM

The Premier League’s profit and sustainability rules (PSR) are likely to remain in place, following a quarterly shareholders’ meeting on Tuesday, according to The Guardian.

During the meeting, clubs discussed two main proposals for new spending rules, which could potentially replace PSR.

The first of these proposals was the introduction of a squad-cost ratio, which would limit teams’ spending on player wages to 85 per cent of their revenue, in a similar format to UEFA’s regulations.

Club also discussed the possibility of anchoring, which would see spending for all teams limited to the revenue of the last-placed club, in order to protect the English top flight’s competitive balance. This has reportedly been met with opposition from both Manchester United and Manchester City previously.

No changes expected before next season

Tuesday’s meeting ended without significant progress on introducing new financial regulations.

It is unlikely that any changes will be implemented before the 2026/27 campaign, with no time frame as-of-yet in place on voting on the new proposed changes.

 

 

Aston Villa set to name Roberto Olabe as president of football operations

Aston Villa are set to appoint Roberto Olabe as the club’s new president of football operations, replacing Monchi, according to UK media.

The 57-year-old previously served as sporting director at Spanish club Real Sociedad for seven years, prior to his departure at the end of the 2024/25 season.

Monchi’s departure follows Villa’s slow start to the season, with the club currently placed 18th in the Premier League table.

A successful tenure at Sociedad

During his tenure in Sociedad, he helped curate talent such as Alexander Isak, Martin Odegaard, and Martin Zubimendi.
In 2020, Sociedad secured their first trophy in 33 years, when the club won the Copa del Rey.

Olabe had also received interest from Real Madrid and Arsenal, with his arrival at Villa set to be announced imminently.

 

 

Bayer Leverkusen and VfL Wolfsburg parent companies invited to review of 50+1 rule

The parent companies of Bundesliga clubs Bayer Leverkusen and VfL Wolfsburg have been invited to join the German Federal Cartel Office’s review of the 50+1 rule, Kicker has reported.

Earlier this year, Bayer AG and Volkswagen, the parent companies of the two teams, requested to be involved in the review.

In June, the Cartel Office sought stricter regulations from the German Football League (DFL), as it deemed the 50+1 rule to still be fundamentally legal. First introduced in 1998, the rule stipulates that members retain the majority of clubs’ voting rights.

However, the office questioned some exceptions to the rule within German football.

Exceptions to the rule

Leverkusen and Wolfsburg are both among clubs considered to be exceptions in the Bundesliga, as they are owned by corporations as opposed to club members, with the Cartel Office aiming to alleviate any potential advantages of their ownership structures.

The two corporations have been given until the end of October to submit their statements.

 

 

AC Milan and Inter Milan appoint Foster + Parters & Manica to design new stadium

AC Milan and Inter Milan have appointed Foster + Partners and Manica to design the new Milan stadium, the clubs announced.

The agreement is subject to the Milan clubs’ acquisition of the San Siro site. Last week, Mayor of Milan Giuseppe Sala revealed the sale had been agreed upon, and would be subject to final approval from the Milan City Council.

Under their proposal, AC Milan and Inter Milan are aiming to demolish the current San Siro stadium, before constructing a new 71,500-seat venue.

Foster + Partners’ portfolio includes Wembley Stadium, as well as the Lusail Stadium in Qatar, which was build ahead of the men’s FIFA World Cup in 2022.

A significant step

“The collaboration with Foster + Partners, one of the most renowned architectural firms globally, and Manica, already recognised as a leader in the field of sports venues, reaffirms the clubs' strong commitment to delivering a stadium that meets the highest standards of innovation, comfort, and sustainability, and will also stand out as an architectural landmark,” AC Milan and Inter Milan said in a joint statement.

“This significant step in the development of the future stadium represents a strategic investment for the future and a tangible sign of commitment to the city of Milan, its history, and its cultural, architectural, and sporting heritage.”

 

 

Spanish club CF Intercity approves €60 million investment

Fourth tier Spanish club CF Intercity have approved a €60 million investment from Alpha Blue Ocean (ABO), which will help fund the team’s new stadium.

During an extraordinary general meeting, Intercity’s board of directors approved he issuance of bonds, which will be convertible into club shares.

ABO currently holds a 20.39 per cent stake in the Alicante-based team, making the investment company the club’s largest shareholder.

Alicante Park project

The fresh funding will go towards the construction of Alicante Park, the club’s new sports and leisure complex, which will include a 20,000 seat stadium.

Also during the shareholders meeting, Intercity approved the appointment of Chris Bueno as a director.

 

 

USL secures strategic investment from BellTower Partners

The United Soccer League (USL) has announced a strategic investment from BellTower Partners.

As part of the agreement, BellTower CEO Kewsong Lee will become a vice chair of USL.

In February, USL unveiled plans to launch a new top division in 2027, which will be on the same level as MLS. The organisation additionally revealed that it would become the first US professional sports league to introduce promotion and relegation for both its men’s and women’s divisions.

Lee on USL investment

“The USL has built something rare in American sports an independent, multi-tier league system of scale that is both high-growth and impactful,” Kewsong Lee said.

“We see durable demand for authentic, community-focused clubs; a favourable environment for public-private partnerships; and significant upside for all stakeholders as the USL continues to expand its men’s and women’s pathways.”

Tuesday briefing: Ex-Juventus chairman Andrea Agnelli granted plea bargain deal by Italian judge

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Tuesday briefing: Ex-Juventus chairman Andrea Agnelli granted plea bargain deal by Italian judge

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Inter Milan CEO calls for demolition and reconstruction of San Siro

Mexican Football Federation seeking to re-enter Apollo investment talks

LFP obtains right to order delisting of sites broadcasting matches illegally

23 September 2025 - 4:30 AM

Former Juventus chairman Andrea Agnelli has been granted a plea bargain deal by a judge in Rome, opening up a potential return to football.

As part of the plea bargain, the 49-year-old has received a 20-month suspended sentence, following an investigation into allegations that the Italian club had received illegal commissions from player transfers and loans, which began in 2021.

Meanwhile, Juventus’ former vice president Pavel Nedved and sporting director Fabio Paratici received suspended sentences of 14 months and 18 months respectively.

Club receives fine

The club’s former CEO however, Maurizio Arrivabene was cleared of any wrongdoing in the case, which promoted the resignation of Agnelli alongside Juventus’ entire board in November 2022.

As confirmed by the club, Juventus have been given a fine of €156,000, and have reached a settlement with investors worth more than €1 million.

 

 

Inter Milan CEO calls for demolition and reconstruction of San Siro

Inter Milan president and CEO, Giuseppe Marotta, has called for the demolition of the “run down” San Siro to make way for a new modern stadium in an interview on Italian radio.

Last week, Mayor of Milan Giuseppe Sala revealed that an agreement had been reached for the sale of the San Siro cite to AC Milan and Inter Milan, which is subject to final approval from Milan’s City Council.

Speaking to Radio Anch’io Sport on Radio 1, Marotta said: “Milan is one of the most attractive cities in Europe, but it risks being sidelined in the European football landscape".

Marotta described the San Siro in its current state as “old, run down, and constantly in need of repairs,” and likened its redevelopment to that of England’s Wembley Stadium. “Just as Wembley was demolished to make way for a new Wembley, the same must happen here,” he said.

The 68-year-old added that a rebuild of the iconic venue would help bring in more revenue for both Milan clubs, with whom they share the 75,817-seat stadium. “At best, Inter and Milan have earned around €80 million each per season from San Siro, while other top clubs bring in as much as €300 million,” he said.

Could leave Milan

According to the Inter CEO, the Serie A club will contemplate options for a stadium outside of Milan if the proposed agreement falls through.

He revealed: “Our plan is to build in Milan, but if obstacles remain, we will have to consider other sites outside the city.”

 

 

Mexican Football Federation seeking to re-enter Apollo investment talks

The Mexican Football Federation (FMF) is looking to revive talks over a potential investment deal with Apollo Global Management, according to the Financial Times.

Last December, a proposed $1.3 billion deal with the US asset management firm fell through, after Mexican clubs failed to agree unanimously on a potential investment.

Under the previous proposal, Apollo would have formed a new entity worth $13 billion, which would oversee Liga MX’s broadcast, sponsorship, and other commercial rights.

Growing popularity of Mexican football

Currently, Mexican clubs have to negotiate their broadcast deals separately, with the federation seeking reforms to its existing governance and media rights infrastructure.

According to FMF president Mikel Arriola, the Liga MX has an estimated 160 million fans across Mexico and the US, with this set to increase next year when the country co-hosts the men’s FIFA World Cup.

 

 

LFP obtains right to order delisting of sites broadcasting matches illegally

France’s LFP has obtained the right to take preventative action against search engines Google and Bing at the Paris Judicial Court.

This comes as part of a clampdown against piracy, with the LFP now able to take action against the illegal broadcasting of Ligue 1 and Ligue 2 matches.

The organisation will have the authority to order the delisting of any streaming sites or IPTV services showing fixtures without permission.

Strengthens LFP’s anti-piracy strategy

In a statement, LFP said: ‘LFP and LFP Media welcome the court's recognition of the LFP's right to obtain, for the first time in France, a preventive injunction against these players.’

‘These dereferencing measures complement the blocking measures ordered as part of the decisions obtained last July against Internet service providers and alternative DNS services. All of these measures, coupled with an attractive offer to view Ligue 1 and Ligue 2 matches, contribute to the effectiveness of the anti-piracy strategy.’

Monday briefing: Apollo in talks over controlling stake in Atletico Madrid

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Monday briefing: Apollo in talks over controlling stake in Atletico Madrid

Atletico Madrid

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Arsenal executive vice-chair step down, club appoints new CEO

Club Brugge chairman call for merger between Belgian and Dutch top flight leagues

Celtic generate £33.9 million profit after tax for 2024/25

LaLiga increases salary cap to €2.7 billion

Premier League clubs to discuss issue of newly promoted teams being relegated

22 September 2025 - 4:30 AM

US private equity firm Apollo Global Management and Atletico Madrid are in talks over a controlling stake in the club, according to Spanish publication Expansion.

Apollo reportedly values Atletico at €2.5 billion, and is looking to buy stakes from the club’s current shareholders to acquire a shareholding of more than 50 per cent.

Atletico Holdco currently has a 70.39 per cent controlling stake in the club, comprising shares of 50.82 per cent and 15.22 per cent for CEO Miguel Angel Gil Marin and president Enrique Cerezo respectively. Meanwhile, Quantum Pacific group owns a 27.81 per cent minority stake, while Ares Management holds a 33.96 per cent share.

Atletico’s $5 billion project

Once complete, the agreement would reportedly see a capital increase, which will help finance the club’s $5 billion (€4.26 billion) Ciudad del Deporte sports city project. This includes the construction of a new training centre, swimming facilities, a mini-stadium, shopping centre and hotel.

Atletico will reportedly contribute €200 million towards the project, and will seek an additional investment of €800 million.

 

Arsenal executive vice-chair step down, club appoints new CEO

Longtime Arsenal executive Tim Lewis has stepped down from his role of vice-chair as part of a reshuffle at the Premier League club.

The 62-year-old departs after a 17-year tenure in North London, having first joined Arsenal in 2007, when Stan Kroenke first acquired a 9.9 stake in the club. Lewis served as an advisor to the US businessman, who would later complete a full takeover of Arsenal in 2018.

After becoming a director in 2020, he was promoted to executive vice chair in 2023.

Arsenal’s new CEO

Meanwhile, Richard Garlick has been appointed as the club’s CEO. After first joining Arsenal as director of football operations in 2021, Garlick has served as managing director for the past year.

Arsenal have additionally announced changes to their board of directors, which will be subject to the Premier League’s owners and directors test. If approved, this will see Kroenke Sports & Entertainment’s (KSE) Kelly Blaha and Otto Maly become non-executive directors, as well as KSE advisor Dave Steiner.

 

Club Brugge chairman call for merger between Belgian and Dutch top flight leagues

Club Brugge chairman Bart Verhaeghe has called for a merger between the Belgian Pro League and Eredivisie, during an interview with Belgian publication HLN.

“We must also dare to think positively again about a BeNeLiga,” said Verhaeghe.

“We, as a smaller country, just like the Netherlands and Portugal, must be aware that the five big leagues are increasingly pulling away. And then you shouldn’t be shouting for more solidarity money, but critically question your own raison d’être and think about good alternatives.”

The BeNeLiga project

In 2021, Belgian clubs voted unanimously in favour of a merger comprising ten Dutch teams and eight Belgian teams, however this ultimately stalled after opposition from Dutch clubs.

Earlier this year, Kicker reported that the two divisions were in talks over proposals for a new 18-team league.

 

Celtic generate £33.9 million profit after tax for 2024/25

Celtic have reported a profit of £33.9 million after tax for the year ended 30th June 2025, as per the club’s financial statements for 2024/25.

This marks a significant increase on last year’s post-tax profit of £13.9 million, with the Scottish champions attributing this to rises in match-day revenue, and an increase in UEFA money.

Celtic delivered overall revenue of £143.6 million, up 15.2 per cent from £143.6 million in the previous season. The club also posted a £31.5 million in profit from player sales - an increase from £6.6 million in 2023/24.

Despite the uptick in revenue, Celtic’s year-end cash remained broadly flat at £77.3 million, up marginally on last year’s figure on £77.2 million.

Chairman reflects on latest results

In a statement, Celtic chairman Peter Lawwell said: “The board shares the ambition of our supporters to see the strongest possible team on the pitch and will continue to balance short-term performance with long-term financial stability, and we must factor in the long-term implications of all decisions made today.

“This strategy is vital to Celtic and has been pivotal to our success over the last 20 years.

He added: “Looking forward, myself and the executive team will continue to represent our club at the highest level of domestic and European football.”

 

LaLiga increases salary cap to €2.7 billion

LaLiga has revealed a salary cap of €2.704 billion for clubs across the top two tiers of Spanish men’s football for the 2025/26 season.

This represents a 3.68 per cent increase on last year’s Squad Cost Limit (SCL) of €2.608 billion, which was adjusted to €2.878 billion following the last January transfer window.

Real Madrid have the highest salary cap of €761.22 million, which is more than double that of FC Barcelona, who have the second highest cap with €351.2 million. Atletico Madrid have seen a 55.2 per cent annual increase from €210.7 million to €326.9 million for the new campaign.

FC Barcelona cap reduced by €112 million

Notably, FC Barcelona’s SCL has dropped by 17.6 per cent for 2025/26, primarily due to issues regarding sales of VIP boxes at the renovated Camp Nou.

The club were deemed to have breached their salary cap during the 2024/25 campaign, after auditors did not ratify the €100 million from VIP package sales as income.

 

Premier League clubs to discuss issue of newly promoted teams being relegated

Premier League clubs are set to discuss the issue of newly promoted sides being relegated at an upcoming meeting this week, The Times has reported.

Last season, all three clubs that were promoted to the English top flight in 2023/24 - Ipswich Town, Southampton and Leicester City - were subsequently relegated after just one season in the Premier League.

This reportedly comes amid concerns that the league’s Profit and Sustainability Rules (PSR) do not benefit promoted clubs, with the gap widening between the promoted teams and the rest of the division.

Squad Cost Rule

Also on the agenda at the Premier League clubs meeting will be proposals for a new Squad Cost Rule, according to The Times.

This would limit the amount clubs can spend on player wages, transfers, and agent fees to up to 85 per cent of their revenue. If implemented, this would assimilate UEFA’s model, whereby teams can spend up to 70 per cent of their income.

Friday briefing: Mercury 13 expands portfolio with Bristol City Women acquisition

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Friday briefing: Mercury 13 expands portfolio with Bristol City Women acquisition

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West Ham stress investment after fan groups’ no-confidence letter

FC Barcelona to host PSG at Montjuïc as Camp Nou renovation delays continue

PFA in talks with Chelsea over Sterling and Disasi's situation

19 September 2025 - 4:30 AM

Mercury 13, a US-based ownership group dedicated to women's football, is expanding its reach in the sport by acquiring a significant majority stake in Bristol City Women, the group have announced.

This move follows their previous acquisition of Serie A team Como Women in 2024.

The financial details of the investment remain undisclosed, but if the league approves, the Lansdown family, who have owned Bristol City for over 30 years, will pass on the control of the women's team to Mercury 13 while keeping a minority stake.

"special and important"

In an interview with The Athletic, Victoire Cogevina Reynal, co-founder of Mercury 13, expressed her enthusiasm about the acquisition: "It is a special and important time for Mercury 13, with this acquisition will start proving how we can add value to the clubs in our portfolio." She highlighted the rebuilding of Como Women as a pilot project and looks forward to expanding into new markets and audiences.

Founded in 2023 by Cogevina Reynal and Mario Malave, Mercury 13 aims to transform women's football by focusing on strategic investment, competitive ambition, and fan engagement. Their goal is to redefine the landscape of the women's game across Europe and South America through their growing portfolio of clubs.

 

 

West Ham stress investment after fan groups’ no-confidence letter

West Ham United have released a statement to address concerns raised by multiple fan groups who recently signed a letter of no confidence in the club's management and owners.

The statement, which aims to "reassure all supporters" of the club's attentiveness to their feedback, highlights financial investments and acknowledges that improvements are needed.

West Ham has spent £450 million on player signings over the last three years, maintaining a net spend of £100 million per season within the Premier League's profitability and sustainability rules. Additionally, "tens of millions of pounds" have been invested in training ground upgrades, including a £4 million renovation of the Chadwell Heath facilities.

Personnel changes

The club also mentioned strategic personnel changes such as appointing Graham Potter as head coach and Kyle Macaulay as head of recruitment. These moves are part of an improved strategy aimed at achieving regular top-half finishes, strong domestic cup runs, and qualification for European competition.

Addressing the matchday atmosphere at the London Stadium, which has been criticised by fans, West Ham noted efforts to enhance the experience through fan zones and displays. They also recognszed that regular winning performances are key to improving the atmosphere.

The statement comes ahead of planned protests by Hammers United against the owners before their upcoming Premier League game against Crystal Palace and a proposed boycott of the following home game against Brentford.

 

 

FC Barcelona to host PSG at Montjuïc as Camp Nou renovation delays continue

FC Barcelona will host their upcoming Champions League match against Paris Saint-Germain at the Estadi Olimpic Lluis Companys in Montjuic on October 1, as confirmed by UEFA.

This decision comes as a result of delays in the reconstruction project of their iconic Camp Nou stadium, which began in June 2023.

Barcelona have been playing their home games at alternative venues due to the ongoing €1.5 billion refurbishment of Camp Nou and its surroundings. The club have already played this season's first La Liga home game at the Estadi Johan Cruyff, which is typically used by their reserve and women's teams, and has a capacity of 6,000.

All matches at the same stadium

The club had requested to play their initial Champions League fixture of the league phase away from home, starting with a match against Newcastle United. However, they will need to settle on a consistent venue for home games soon, as UEFA Champions League regulation generally requires clubs to play all their matches in the same stadium.

The original plan was to reopen Camp Nou for the Joan Gamper Trophy in early August, but due to delays, the venue was switched to Estadi Johan Cruyff.

 

 

PFA in talks with Chelsea over Sterling and Disasi's situation

The Professional Footballers' Association (PFA), the players' union, is currently in discussions with Chelsea regarding the situation of Raheem Sterling and Axel Disasi, who have been marginalised from the club's first-team activities, BBC reports.

Sterling, the 30-year-old England forward, has less than two years remaining on his Chelsea contract, which earns him approximately £325,000 per week. Disasi, the 27-year-old French defender, is under contract until 2029.

Despite expectations that they would leave during the summer transfer window after spending time on loan last season, both players remained at Chelsea and are not anticipated to rejoin the first team until at least January when the transfer window reopens.

FIFA rules enforced

The PFA's involvement aims to ensure that Sterling and Disasi can maintain their fitness and training at an optimal level despite their exclusion from senior team activities.

This intervention comes amid FIFA's strict regulations against isolating players in a manner that could be deemed 'abusive conduct' by a club, potentially allowing a player to terminate their contract for 'just cause'. The PFA is ensuring that clubs are cognisant of these FIFA regulations.

Thursday briefing: Manchester United post loss despite record revenues for 2024/25 season

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Thursday briefing: Manchester United post loss despite record revenues for 2024/25 season

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Arnault family reshapes Paris FC management

Spain may boycott World Cup if Israel participates

18 September 2025 - 4:30 AM

Manchester United have announced record revenues for the 2024/25 season, reaching £666.5 million, despite not participating in the Champions League and posting a sixth consecutive annual loss.

The club's financial results showed a significant rise in matchday and commercial income, with matchday revenue hitting a record £160.3 million for an English club and commercial income reaching £333.3 million. However, broadcasting income declined due to the absence from Europe's premier club competition.

The club reported a loss of £33 million, an improvement from the previous year's £113.2 million loss but marking their sixth year of financial losses. Looking ahead, United expects a decrease in revenue for the 2025/26 season, projecting between £640 and £660 million.

A restructuring program that led to up to 450 job cuts and the lack of Champions League football contributed to a reduced wage bill of £313.2 million, the lowest since the 2019-2020 season. The club also recorded their highest profit on player sales since 2009, at £48.7 million.

Net debt of £550.9 million

Manchester United's net debt has risen to £550.9 million, which is the highest level since the early years of the Glazer family's takeover.

For fiscal 2026, Manchester United anticipates an increase in Retail, Merchandising, and Licensing revenues due to a full year of their in-house e-commerce operation and a slight uplift in Broadcasting revenues with expected higher Premier League revenues compensating for the absence of UEFA competition revenue.

 

 

Arnault family reshapes Paris FC management

Paris FC are set to enter a new era as the Arnault family, which acquired a majority stake in the club ten months ago, begins to assert more control over their management.

According to L'Équipe, François Ferracci, the current sporting director, is on his way out, and questions are being raised about the future of his father, Pierre Ferracci, the club's president.

Antoine Arnault of Agache Sport, part of the family's holding company Agache, announced Jean-Marc Gallot as the new general manager. Gallot, a football enthusiast with 22 years at the luxury group LVMH, is replacing Alexis de Seze. Antoine Arnault expressed his confidence in Gallot's ability to bring dynamism and ambition to the club's project.

"I am very happy to welcome Jean-Marc to the role of General Manager of the club," said Antoine Arnault. "We know him well, having worked closely and successfully with him for many years, and we are confident that he will bring his dynamism and ambition to this exciting project, which is still in its early stages".

Align with Ligue 1 standards

The changes reflect the majority shareholder's intent to align the club's organisation more closely with Ligue 1 standards. This includes hiring Alexandre Battut as administrative and financial director, another individual from the LVMH.

François Ferracci's departure comes amid disagreements with minority shareholder Red Bull and their representative Marco Neppe.

 

 

Spain may boycott World Cup if Israel participates

Spain is considering a boycott of the FIFA World Cup if Israel qualifies for the tournament, as stated by Prime Minister Pedro Sanchez and reinforced by Socialist Party spokesperson Patxi Lopez.

During a party congress, Sanchez expressed that Israel should not be allowed to use the event as a platform to improve its image, especially in light of the conflict in Gaza.

According to Lopez, Spain may follow the precedent set with Russia, which has faced bans from international sporting events due to its military actions in Ukraine. The suggestion of a potential boycott by Spain's national football team for the 2026 World Cup hosted by the United States, Canada, and Mexico was made public on Tuesday.

Pressure

This stance serves as a form of pressure since Israel's national team is currently in a position to compete for a playoff spot, being tied with Italy in their qualifying group.

Furthermore, Spain has signaled its intention to also boycott the next Eurovision song contest unless Israel is excluded. This move would align Spain with other countries like Ireland, Iceland, Slovenia, and the Netherlands that have indicated similar intentions.

Football meets tech: How Eintracht Frankfurt built a tech company to fit in your pocket

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Football meets tech: How Eintracht Frankfurt built a tech company to fit in your pocket

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IMAGO | Eintracht Frankfurt won the Europa League title in 2022 after winning 5–4 on penalties against Rangers in the final.

Eintracht Frankfurt launched subsidiary EintrachtTech in 2017 to offset financial disadvantages against wealthier rivals, as CEO Timm Jäger explains in this interview.

The club have consolidated all fan data into a single digital platform, developing their own app, e-commerce, ticketing, and the Mainpay wallet, which also works beyond the stadium.

Why it matters: Eintracht offer an example of how a member-owned club might preserve their identity while at the same time creating new revenue streams by owning and operating its entire digital infrastructure.

The perspective: Digitalisation is becoming a decisive factor for clubs, where commercial growth depends not only on sponsorships and media rights but increasingly on the ability to control and monetise fan data.

17 September 2025 - 6:25 PM

In 2016 Eintracht Frankfurt were minutes away from dropping out of the Bundesliga. A narrow 2-1 aggregate victory over FC Nürnberg in the relegation play-off kept them up, but the episode was a turning point. 

Leadership concluded that to remain competitive, particularly against rivals with deeper pockets, the club would need to change course radically. One of the answer was EintrachtTech, the subsidiary set up to drive innovation and digital growth.

Timm Jäger, The CEO of EintrachtTech from the beginning after previous roles at BMW Group and Boston Consulting Group, explains the challenge. 

“It was quite clear that we were competing with clubs that have a lot more financial resources than we had.”

Competing against richer rivals

The competitive landscape made Eintracht Frankfurt’s position difficult. On one side were the investor-backed projects of clubs such as RB Leipzig, Hoffenheim, Wolfsburg and Leverkusen. On the other, the established heavyweights like Bayern Munich and Borussia Dortmund, with the financial muscle that comes from playing Champions League football year after year. Eintracht, by comparison, had to find alternative ways to keep pace.

As a majority member-owned club, change in their ownership structure was never an option for Eintracht Frankfurt. Jäger stresses that this identity was central to the decision-making. The club are proud of being owned by their members and determined to stay that way. That meant finding new ways to generate revenues and build resilience.

“To improve our financial competitiveness, we decided that we wanted to be more innovative, we wanted to be more digital and focus on new business models, and therefore the idea of EintrachtTech was created.”

A separate entity

EintrachtTech was founded in 2017 as a wholly owned subsidiary. 

“We created a separate entity, so EintrachtTech became a company. It is 100 per cent owned by Eintracht Frankfurt, the football club, but we have our own financial resources and our own personnel,” Jäger says.

PR

PR | Timm Jäger has been the CEO of EintrachtTech since its founding in 2017.

Today, EintrachtTech has grown into a business with 20 employees and 13 software developers with a revenue of more than €10 million annually.

The scope was broad. 

The new subsidiary was set up to ensure technical independence, enable data-driven operations and to experiment with business models rooted in digital technology.

For Jäger, achieving that required one foundation: a deep understanding of the fans and their behaviour. At the time, however, Eintracht’s digital environment was fragmented across multiple providers, which made it impossible to get a complete picture.

“You need a good digital infrastructure, and we obviously did not have that at the time,” Jäger recalls. 

Without a unified system, the club lacked oversight of the entire customer journey and had little knowledge of who their fans were or how they engaged across different touchpoints.

“This leads to the fact that most of the time you don't understand the whole customer journey. You don't understand who your fan is and what your fan is doing.”

Initially the club sought third-party solutions but concluded they were not fit for football. 

By 2019/20, the decision was made to build in-house expertise, turning EintrachtTech into a software development company in its own right.

That move allowed Frankfurt to build their own app, ticketing and e-commerce systems within a single framework. 

“In that way it doesn't matter if a fan is interacting via our website or via our app, everything is via one digital platform that basically services all our fans. That is how we got full control of every service that we are offering to our fans and understand fan behaviour.”

New revenue streams

A key element of the project is bringing all supporter data together in one place. By linking information across ticketing, retail and media channels, Eintracht can see each fan’s overall interaction with the club and use that knowledge to personalise both content and advertising.

“We can personalise content and we can personalise advertisement,” says Jäger.

The app became a commercial platform. 

Today, the club uses it not only to serve fans but also as a sales channel, enabling sponsors and partners to sell their products directly within the Eintracht app.

His ambition was clear from the outset.

 “The idea was quite clear from the beginning; to be one of the 4 to 5 apps that every Eintracht Frankfurt fan is using every day.”

Eintracht developed their own digital wallet, Mainpay as they call it, which fans can use in the stadium for purchases like jerseys, drinks or food. Crucially, the solution also works outside the stadium. If a fan uses Mainpay while travelling abroad, the system captures that transaction and enriches the club’s understanding of fan behaviour in everyday life. 

This in turn creates new commercial opportunities, for instance, enabling airline partners to target supporters with tailored offers around holidays and travel. Jäger points out, that this kind of insight is unique in the market.

“This is information that other teams don't have because they don't have the transaction data and behaviour of fans in their daily lives.”

Transparency for fans

Implementing a new system at a traditional football club required more than just the right technology. For Eintracht, it was crucial to be consistently transparent about the process and to make sure fans understood both what was being introduced and why.

“You have to be very transparent and explain to the fans what and why you are doing it.” 

Jäger stresses that open and clear communication was essential to winning acceptance, and without this effort the project would never have secured the same level of support from members and supporters.

Selling to others

EintrachtTech is not only built to serve Eintracht Frankfurt but also to operate as a business.

The subsidiary has now started offering its digital solutions, including the core platform, ticketing, e-commerce and the club app, to other teams and organisations in football and sport. 

The expansion is still at an early stage, and while it is easy to imagine that some rivals might be hesitant to adopt a system associated with Eintracht Frankfurt, three clubs have already signed contracts to implement the digital platform, a development Jäger sees as proof that this is where the future lies.

Wednesday briefing: FIFA announces record $355 million payout for 2026 World Cup

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Wednesday briefing: FIFA announces record $355 million payout for 2026 World Cup

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Burnley’s £50 million compensation battle with Everton begins this week

Manel del Río appointed as new general manager of FC Barcelona

San Siro sale to AC Milan and Inter Milan agreed upon, says Milan Mayor

FC Barcelona stuck at 6,000-capacity Johan Cruyff Stadium as Camp Nou renovations drag on

17 September 2025 - 4:30 AM

FIFA has announced that it will allocate a record $355 million to clubs worldwide through its Club Benefits Programme (CBP), in connection with the 2026 World Cup.

This figure represents a substantial increase of nearly 70 per cent from the $209 million after the 2022 World Cup in Qatar.

For the first time, clubs that release players for World Cup qualifiers will also receive compensation, not just for the finals. This change is part of a broader effort to create a fairer system for global club football, as outlined in a renewed memorandum of understanding signed between FIFA and the European Club Association (ECA).

Infantino and Al-Khelaifi praise the initiative

FIFA President Gianni Infantino highlighted the significance of this initiative, stating, "The enhanced edition of the FIFA Club Benefits Programme for the FIFA World Cup 2026 is going a step further by recognising financially the huge contribution that so many clubs and their players around the world make to the staging of both the qualifiers and the final tournament."

ECA Chairman Nasser Al-Khelaifi praised the program as "innovative" and acknowledged that "clubs play a pivotal role in the success of national team football" and that "this initiative recognises every element of it, from early development through to release for the most important games."

 

 

Burnley’s £50 million compensation battle with Everton begins this week

Burnley FC have initiated a legal case against Everton FC, seeking £50 million in compensation over claims that Everton breached the Premier League's profit and sustainability rules (PSR).

The case is set to begin this week, with Burnley alleging that Everton's financial misconduct, which led to a points deduction, should have resulted in a penalty at the time of the breach.

Everton was initially docked 10 points, later reduced to six on appeal, for exceeding PSR limits over a three-year period ending in the 2021/22 season. Burnley contends that if Everton had been penalised when the breach occurred, they would not have been relegated.

Behind close doors

The proceedings are taking place behind closed doors at the International Dispute Resolution Centre in St Paul’s, London, meaning the outcome may remain confidential. There is currently no set timeline for a verdict.

Burnley finished the 2021-22 season in 18th place with 35 points, while Everton ended in 16th place with 39 points. Burnley argue that their relegation to the Championship has resulted in a loss of £50 million in revenue, for which they are now seeking compensation from Everton.

 

 

Manel del Río appointed as new general manager of FC Barcelona

FC Barcelona have appointed Manel del Río as the club's new general manager, a move that sees an internal promotion for an executive who joined the club in 2022.

Initially brought on board as chief financial officer, del Río later took on the role of corporate director and has now ascended to a position where he will report directly to President Joan Laporta.

According to Mundo Deportivo, del Río's rise within FC Barcelona's ranks places him second in the club's organizational hierarchy. His previous experience includes a stint at Royal Talens, an international company in the paint sector, and work with Pensions & Investment Research Consultants (PIRC).

Vacant since 2022

The general manager role at Barça had been vacant since the departure of Ferran Reverter in February 2022, who left the position just eight months after his appointment.

Alongside del Río's promotion, FC Barcelona is also implementing immediate organisational changes within its management structure.

 

 

San Siro sale to AC Milan and Inter Milan agreed upon, says Milan Mayor

According to Giuseppe Sala, the Mayor of Milan, an agreement has been reached for the sale of the San Siro area to the city's two major football clubs, AC Milan and Inter Milan. The final decision on the sale, however, is contingent upon approval from the City Council.

"Everything is fine. On Wednesday, we should go to the council with the resolution for the sale of San Siro because, in fact, we have reached an agreement with the clubs," Sala said in an interview with RTL 102.5.

The urgency for a new stadium comes as UEFA has indicated that Milan will not be considered for hosting duties at the 2032 European Championship if the current San Siro stadium remains unchanged.

Will vote in favour

Sala outlined that there will be a formal resolution and a proposal on the project presented to the City Council. Given the significance of this asset transfer, it will undergo thorough discussion within committees before a final decision is made.

"I will bring the resolution to the council and support its approval. I will vote in favour, and then it will be up to the City Council to decide," Sala affirmed. He expects all proceedings regarding this matter to conclude by the end of the month.

 

 

FC Barcelona stuck at 6,000-capacity Johan Cruyff Stadium as Camp Nou renovations drag on

FC Barcelona will play their second La Liga home game of the season at the 6,000-seat Estadi Johan Cruyff due to ongoing delays with the Camp Nou renovations, as confirmed by the club.

Barcelona's match against Getafe on Sunday follows their previous home victory over Valencia at the same venue, typically used by their reserve and women's teams.

The club have not provided a timeline for when they will return to the Camp Nou but are working to secure the necessary administrative permits. Season ticket holders from the past two seasons who missed the Valencia game are being prioritized for tickets to the upcoming Getafe match.

Uncertainty over Champions League

Barcelona have been playing away from their iconic stadium since June 2023 due to the €1.5 billion refurbishment project. They had hoped to open Camp Nou with a reduced capacity for their first home match of this season, but this plan did not come to fruition.

Barcelona's first home Champions League game is scheduled for October 1 against Paris Saint-Germain, and it remains uncertain if Camp Nou will be ready by then.

Tuesday briefing: Joint call for player welfare from UEFA and FIFPRO Presidents

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Tuesday briefing: Joint call for player welfare from UEFA and FIFPRO Presidents

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Real Madrid to submit report on refereeing concerns to FIFA

€220 million economic impact of Women's EURO 2025 in Switzerland

16 September 2025 - 4:30 AM

UEFA President Aleksander Ceferin and FIFPRO President David Terrier have issued a joint call for measures to protect player welfare, highlighting concerns over the packed football schedule.

Their statement follows criticism from Barcelona coach Hansi Flick regarding Spain's medical treatment of Lamine Yamal's injury, as well as Paris St Germain's accusations against France's medical staff for mishandling player injuries.

According to the statement, UEFA and the players' union are urging collaboration among football's governing bodies, leagues, clubs, and unions to ensure the health of players while maintaining the integrity of the European football structure.

"Balanced solutions"

Ceferin emphasised the importance of national team football to Europe's identity and unity, stating, "As demands on players grow, it's more important than ever to work together – with national associations, leagues, clubs and players – to find balanced solutions for the future of the sport."

Terrier also stressed the urgency of addressing the issue, saying, "We all recognize that the calendar has reached a tipping point." He pointed out that Europe has the necessary tools and partners to develop protocols that safeguard players' well-being and support both national team and club football.

 

 

Real Madrid to submit report on refereeing concerns to FIFA

Real Madrid are set to submit a report to FIFA detailing concerns over refereeing in Spanish football. The club's official media channel, Real Madrid TV, announced that the report will cover incidents from both the current La Liga season and the previous one, acoording to a report from The Athletic.

According to the announcement made after their recent 2-1 win against Real Sociedad, "Real Madrid are preparing a report with everything that has happened in these first four rounds of La Liga and what happened last season." The dossier aims to inform FIFA about perceived refereeing issues in Spain. .

The move comes after a match where Real Madrid's Dean Huijsen received a direct red card.

Previous problems

Madrid's president Florentino Perez has previously expressed dissatisfaction with what is seen by many at the club as bias against them by referees. Last season saw a series of public disputes between Madrid and both the Spanish Federation (RFEF), and La Liga.

Despite winning all four La Liga matches this season, Real Madrid have faced several controversial moments, including a game decided by a penalty and another with three goals disallowed by VAR. Last February, they filed a formal complaint to RFEF regarding VAR decisions in a match they lost to Espanyol.

 

 

€220 million economic impact of Women's EURO 2025 in Switzerland

UEFA's Women's EURO 2025 in Switzerland has delivered €220 million in economic impact for the host nation, UEFA has announced.

The tournament saw unprecedented success with 29 out of 31 games sold out and an average attendance surpassing 20,000 for the first time in Women's EURO history. A total of 657,291 tickets were sold, with international spectators accounting for 35 per cent of the total.

Switzerland experienced a 9 per cent increase in hotel bookings by European visitors in July compared to the previous year. The event also boasted the largest sponsor lineup in UEFA tournament history, with 21 brands contributing to a 150 per cent increase in sponsorship revenue over the previous edition.

Positive effects

The Swiss Women’s Super League has already felt the positive effects, reporting a 42 per cent rise in match attendance.

However, it remains unclear whether the tournament turned a profit. This financial uncertainty will be a crucial factor in deciding the host for EURO 2029, with bids from Germany, Denmark-Sweden, Poland, and Portugal under consideration.

Monday briefing: CVC launches dedicated division for $13.6 billion sports empire

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Monday briefing: CVC launches dedicated division for $13.6 billion sports empire

Barcelona v Real Madrid

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Sporting CP deliver record ‘€265 million’ revenue for 2024/25

Brighton set to hire former Arsenal executive as new technical director

LFP aiming to generate up to €350 million annually through Ligue 1+

15 September 2025 - 4:30 AM

Private equity firm CVC Capital Partners has launched a new division to harbour its $13.6 billion portfolio of sports properties, and to seed new opportunities in sport, Sportico has reported.

CVC reportedly revealed the new division, Global Sports Group (GSG), during a presentation to investors in London on 10th September. The Luxembourg-based company, which manages around $234 billion in assets, is reportedly seeking new commercial opportunities through the new platform, which will scale value creation across the sports it has investments in.

In football, CVC’s empire includes a $2.17 billion LaLiga deal, which was signed in 2021, as well as a $1.6 billion Ligue 1 media rights agreement, which was signed in 2022.

Investment through new platform

GSG represents the largest sports fund within private equity, and marks CVC’s ambition of expanding its investments in sport.

According to Sportico, the group will focus on global leagues and teams as media rights models, as well mobile-first consumption, and the growth of women’s sport.

 

Sporting CP deliver record ‘€265 million’ revenue for 2024/25

Sporting CP have generated record revenue of €265 million including player sales for 2024/25.

An 18 per cent increase in total income over the last year was largely driven by the Portuguese club’s transfer revenue, which eclipsed €100 million.

Meanwhile, Sporting made a profit for a fourth successive year, this time generating €20 million. This brings their overall profits to €82.3 million since the 2021/22 season, according to the report.

Champions League success

Over the last year, the club’s media rights revenue saw an 87 per cent increase, surging from €42.9 million to €80.1 million, largely due to Sporting’s participation in the Champions League’s revamped format, where each club plays eight league phase matches.

After reaching the knockout stages of the tournament, Sporting received €49.4 million from their participation in the elite European club competition.

 

Brighton set to hire former Arsenal executive as new technical director

Brighton are set to appoint Jason Ayto as the club’s new technical director after parting ways with David Weir, according to The Athletic.

The 40-year-old will reportedly start his tenure at the Premier League club next week, following Weir’s departure, which Brighton confirmed last Friday.

Weir had served in the role since May 2022, replacing Dan Ashworth after his move to Newcastle United, and first joined Brighton in 2018.

Ayto’s resumé

Earlier this year, Ayto left Arsenal after 11 years in North London, where he most recently served as interim sporting director after Edu left the club in November last year.

Ayto, who was previously an assistant to Edu, left the Emirates this summer following the arrival of the club’s new sporting director Andrea Berta.

 

LFP aiming to generate up to €350 million annually through Ligue 1+

France’s LFP is aiming to generate up to €350 million per year through the newly launched Ligue 1+ platform, RC Lens president Joseph Oughourlian told RMC Sport’s After Foot podcast.

The new in-house OTT service launched ahead of the 2025/26 season, following the termination of LFP’s previous broadcast agreement with DAZN earlier this year.

Eight of nine weekly Ligue 1 matches air on Ligue 1+, with the remaining fixture airing on beIN Sports.

Oughourlian on LFP’s financial plan

Speaking to RMC, Oughourlian said the LFP has a “financial plan” that includes reaching between 2-2.5 million season ticket holders, with the subscription price set for a gradual increase from €14.99 to €19 per month.

He continued: “Under these conditions, the clubs could achieve total revenues of around €300 - €350 million , already a considerable figure. When? In the third season. But it's difficult to predict with certainty how far this could go.”

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