FC Barcelona have reported a €17 million loss for the 2024/25 season, according to the LaLiga champions’ latest annual financial statements.

The club say that without the deduction of extraordinary costs, they would have made a profit of €2 million.

Last year, Barcelona revealed a net loss of €91 million for the 2023/24 season, which was primarily due to the club’s failure to sell their Barca Vision digital media arm.

Expect return to profitability

Despite this year’s loss, the club are forecasting a profit of €4 million after tax next year, which will largely be driven by the team’s return to the Camp Nou.

The venue has been undergoing a renovation since 2023, with the club’s return to the stadium on 21st October for their Champions League fixture against Olympiakos after multiple delays to its reopening.

Next FIFA Club World Cup expected to feature three teams per country

FIFA is expected to increase the number of teams from two to three per country for the next edition of the Club World Cup in 2029, according to The Times.

Although UEFA would not oppose this, European football’s governing body would however take issue with any plans to stage the tournament on a biennial basis.

This summer’s Club World Cup featured 32 teams for the first time, up from seven in previous editions, however the tournament faced criticism due to the notable absences of Liverpool, Barcelona, and Napoli, the champions of the Premier League, LaLiga, and Serie A respectively last season. An increase to three clubs per country would be intended to alleviate this issue.

Discussion today

Future plans for the competition are set to be discussed at the FIFA Council meeting today, but there will likely not be any final decisions made on plans for the tournament.

FIFA is also considering expanding the Club World Cup further to 48 clubs for 2029, The Guardian reported in June.

FC Porto deliver record €39.2 million profit despite Champions League absence in 2024/25

FC Porto have reported a club record profit of €39.2 million for the 2024/25 financial year.

The Portuguese club achieved this despite seeing their revenue drop to €149.5 million, in a 14 per cent decrease from last season.

Porto delivered €100.4 million from player sales, more than double the club’s profit in 2023/24. In total, revenue from outgoing player transfers reached €171.5 million, however €71.1 million in associated costs was deducted from that figure.

Champions League absence cost €47.9 million

As a result of failing to qualify for last season’s Champions League campaign, the club’s UEFA revenue was down 74 per cent to €17.2 million, with Porto featuring in the Europa League last season.

This summer, the club generated €17 million from their participation in the expanded FIFA Club World Cup, which also helped offset the €47.9 million deficit caused by their absence from the Champions League.

UEFA should decide first on suspension of Israel from football, says FIFA VP

FIFA vice president, Victor Montagliani, has said UEFA should make the first call on a potential suspension of Israel from football.

speaking at the Leaders sports business conference in London, the 60-year-old, who is also president of CONCACAF, told Sky News: “The reality is that that issue is the jurisdiction of UEFA.

"It's their member and they have a process... so we need to respect that.”

Montagliani has revealed that the matter would not be on the agenda for today’s upcoming FIFA Council meeting, but confirmed that the Palestine Football Association’s call for Israel’s ban was still being considered by two FIFA committees.

UN calls for Israel ban

Reports last week suggested that UEFA would be holding a vote this week on whether or not to suspend Israel from European competitions, amid mounting pressure from the United Nations.

After the UN’s Commission of Inquiry recently concluded that Israel was committing genocide in Gaza, a statement from UN experts called for football’s governing bodies - UEFA and FIFA - to suspend the country.

Turkish club Kasimpasa placed under state ownership

Turkish Super Big club Kasimpasa SK has been placed under a state trusteeship, after prosecutors issued an arrest warrant for owner Turgay Ciner, according to Reuters.

The 69-year-old Turkish businessman is currently wanted for charges of alleged money laundering and fraud.

In addition to Istanbul-based Kasimpasa, several of Ciner’s companies have also been placed under the control of the state deposit insurance fund. These include Park Holding and Silopi Electric.

“strong suspicions and evidence"

This follows an investigation into the sale of 22 companies from his Ciner Holding to Can Holding in December last year. According to prosecutors, there are “strong suspicions and evidence” that this agreement involved laundering proceeds from criminal activities.

At the time of writing, Ciner is still abroad, and has not yet been detained.
 

The sale of the San Siro and its surrounding area to AC Milan and Inter Milan has been given the green light by the Milan City Council.

Under the Serie A clubs’ proposal, the iconic stadium will be demolished, with a new venue set to be built in its place.

Earlier this month, both Milan clubs revealed a partnership with architecture firms Foster + Partners and Manica, who will oversee the design of the new stadium project.

On Monday, the council approved the sale, with 24 votes in favour and 20 against.

Construction to start by November

As reported by The Athletic, the sale will be ratified after due diligence has been conducted at the beginning of November.

Once approved, the clubs are expected to break ground on the construction in November, and hope that the new venue will be completed in 2031, one year ahead of the UEFA Euro men’s 2032 championships, which will be held in Italy and Turkey.
 

Premier League's operational costs rise by 30 per cent over last five years

Premier League's operational costs have risen by 30 per cent over the last five years, as reported by The Telegraph.

The English top flight is consequently under mounting pressure from teams over increasing costs. Legal costs increased from £11.3 million to £48.1 million between the 2022/23 and 2023/34 seasons, before seeing a slight decrease to £44.6 million for the 2024/25 campaign.

A club executive told The Telegraph: “The rate at which the league's central costs are rising is a real cause for concern for all of us. Their executives seem increasingly happy to spend the club's money, which is raising questions about their governance."

However, according to the newspaper, criticism is met with surprise in some quarters, as the budget was passed by a strong majority and none of the 20 clubs questioned rising costs at recent shareholder meetings or at last week’s CFO sub-committee.

The league is understood to argue it has outperformed expectations, providing clubs with an average of £28 million a year above budget over the past five seasons. Supporters of its strategy are said to view greater central investment as essential for long-term growth.

IFR sparks rise in operating costs

The rise in operational costs is also partly being driven by pressure of the incoming Independent Football Regulator (IFR), with a 29 per cent, £4.3 million increase in spending on policy.

The Premier League is expecting operating costs to see another 13 per cent uptick in its budgeting for the 2025/26 season, although club revenues are also expected to increase by £311 million.
 

Ajax post €37.3 million loss for 2024/25

Ajax have made a net loss of €37.3 million for the 2024/25 financial year, the Dutch club revealed.

This year’s result has been attributed to a decrease in revenue from player sales, as well as the club’s absence from the UEFA Champions League last season.

Ajax generated a €10.3 million profit in transfer revenue over the last year, in comparison to a net profit of €70 million in player sales in the previous season.

Despite the overall loss, the club’s net revenue increased by €26.1 million to reach €178.1 million.

Improvement predicted for 2025/26

This marks the second successive year in which the Amsterdam team have posted a net loss, after reporting a €9.8 million loss for 2023/24.

Going forward, the club projects an improvement in its financial results, after qualifying for this year’s Champions League season, and following the sales of players such as Jorrel Hato and Brian Brobbey to Chelsea and Sunderland respectively.
 

DFL approves new structural reorganisation

The German Football League (DFL) has announced a new structural reorganisation, which will see the organisation separated into three central business divisions, which will take effect from the start of 2026.

DFL GmbH, the parent company, will continue to oversee central functions across areas including licensing, political relations, match operations and fan affairs, as well as overarching corporate functions.

Meanwhile, a new DFL-owned sales and digital subsidiary will be responsible for aspects including media rights, commercial partnerships, marketing, and video content.

The third unit, Sportcast GmbH, will continue to operate as its own wholly-owned subsidiary as the central production arm of DFL Group.

New structure gets unanimous approval

The DFL Supervisory Board confirmed that these changes were approved unanimously by a vote, after being proposed by DFL CEOs.

The DFL GmbH parent company will be led by DFL CEOs Marc Lenz and Steffen Merkel, who will serve as joint CEOs of both DFL GmBh and the new unit. Peer Naubert and Bastian Zuber, the Managing Directors of Bundesliga International and DFL Digital Sports, will also take on management roles within the division.
 

Tottenham Hotspur cut ties with Rothschild & Co

Tottenham Hotspur have ended their relationship with global financial advisory group Rothschild & Co, as the club insist they are not for sale, according to The Athletic.

Earlier this week, Spurs confirmed that they had “unequivocally rejected” an expression of interest from US tech entrepreneur Brooklyn Earick, who was considering an offer of £4.5 billion to buy the North London club.

Spurs said in a statement: “The board of the club and ENIC reconfirm that Tottenham Hotspur is not for sale and ENIC is not looking to sell its stake in the club.”

Recent interest in Spurs

In April 2024, former Spurs chairman Daniel Levy appointed Rothschild to help the Premier League club seek external investment.

However following Levy’s recent departure, the club’s majority owner ENIC declared that they are not for sale, after revealing that they had rejected multiple approaches from prospective investors.
 

AC Monza appoints new board of directors following takeover

AC Monza have appointed a new board of directors, as well as naming Lauren Crampsie as president.

This follows the Serie B team’s recent takeover by US fund Beckett Layne Ventures, who bought an 80 per cent stake in the club in July, prior to completing a full acquisition.

Meanwhile, former AS Roma player and executive Mauro Baldissoni, who was a part of the group that took over the club, has been appointed as Monza’s new CEO.

Monza’s executive revamp

Baldissoni replaces Adriano Galliani, who left Monza shortly after the change in ownership.

Alongside the club’s new board of directors, Monza have also appointed a board of statutory auditors.

Inter Milan have generated record revenue of €567 million for 2024/25, the highest ever for a Serie A side, up €94 million compared to the 2023/24 campaign, the club revealed in a statement.

In the Italian club’s financial statements for the 2024/25 financial year, Inter also reported a profit of €35.4 million.

This marks a €70 million increase on last year, and Inter’s first profit for the last 15 years, which has been attributed to their participation in the UEFA Champions League and FIFA Club World Cup last season.

The last year for Inter

Earlier this year, Inter secured a €350 million loan, which will mature in 2030, achieving an investment grade credit rating.

The club’s owners, US investment firm Oaktree Capital Management, have also approved a €100 million investment into Inter’s training facilities.

 

Bayern Munich appoint Rouven Kasper as director of marketing and sales

Bayern Munich have announced the appointment of Rouven Kasper as the club’s director of marketing and sales.

The 43-year-old joins from fellow German club VfB Stuttgart, where he served in the same role since 2022.

Kasper, who will start his new position on 1st January 2026, is set to return to the Bavarian capital, having previously been Bayern’s president of Asia between 2016 and 2021.

Club hails “significant addition”

Herbert Hainer, president and chairman of Bayern Munich’s Supervisory Board, said: “We are looking forward to a significant addition with international experience in a strategically relevant field.

“The Supervisory Board is convinced that Rouven Kasper is the right choice, both professionally and personally, to achieve FC Bayern's ambitious goals in marketing and sales with him as a member of the Board of Directors, especially since he already knows our club very well.”
 

Athletic Bilbao report €7 million profit for 2024/25

Athletic Bilbao have generated a profit of €7 million for the 2024/25 season, the LaLiga club revealed.

As per Bilbao’s latest annual financial statements, the club delivered an operating income of €172.5 million, up from €134.9 million in the previous year.

This was mainly due to an increase in revenue from UEFA following the team's run to the Europa League semi-finals, as well as an uptick in commercial revenue.

The club have also reported net income of €6.98 million for 2024/25, after making a loss before provisions of €14.2 million in the 2023/24 campaign.

Forecast for next season

Bilbao expect to see a continuation of the club’s financial growth in 2025/26, and are forecasting a net profit of €10 million next year.

For next season, the Basque club are forecasting revenue of €185.9 million, which would bring about an operating result of €31 million, up from €12 million in 2024/25.
 

Bayer Leverkusen CEO calls for international football salary cap

Bayer Leverkusen CEO Fernando Carro has called for the introduction of a new global salary cap in football.

Speaking at Bloomberg’s Future of Finance event, the 61-year-old cited the growing disparity between the financial prowess of the Premier League, in comparison to Europe’s other elite leagues.

“The Premier League is trying to become the number one product in Europe, even above the Champions League,” Carro said. “I'm normally against regulations, but in this case I think it's a necessary battle.”

Revenue gap

Although UEFA has its own financial regulation, including its squad cost ratio rule, there is currently no salary cap that applies to all European clubs.

As referenced by Bloomberg, Premier League clubs generated more than €7.1 billion in aggregate revenue during the 2023/24 season, almost double the Bundesliga’s aggregate revenue of €3.6 billion.

Flamengo block €12.3 million payment to Libra clubs

Brazilian club Flamengo have blocked the €12.3 million payment to other clubs in Libra, after being granted an injunction by the Rio de Janeiro Court of Justice.

Libra, a joint entity comprising 18 Brazilian clubs across both Serie A and B, signed a four-year media rights deal with Globo last year, which covers the 2025-2029 cycle, and is worth €163 million annually.

Flamengo have taken issue with the distribution of funds as part of this agreement, whereby 40 per cent of revenue is divided equally among Serie A clubs, with 30 per cent divided up by their league position, and the remaining 30 per cent based on their audiences.

The Rio-based club are disputing the 30 per cent audience-based statute, while Libra is claiming that this issue has previously been addressed.

Club blasts “tyranical” Libra

In a statement on 26th September, Flamengo said: “The goal is to prevent Flamengo from suffering additional losses due to the establishment of revenue sharing criteria based on audience ratings that do not recognise Flamengo's financial resource-generating power.

The statement continued: “Flamengo was always willing to seek an amicable solution to the problem and make some degree of concessions to reach an agreement, but the other clubs were intransigent and imposed a loss of over R$100 million (€16 million) annually on Flamengo, which represents a loss of 37 per cent compared to the previous contract.

“It should be noted that Flamengo has no interest in the litigation, as most of the deposited funds go to the club, which has the largest audience in the country. It's terrible for Flamengo that the revenues owed for audience fees are judicially withheld. However, it cannot agree with the absurd solution that Libra tyrannically seeks to implement, to the club's detriment.”

Juventus have reported a €58.1 million loss for the 2024/25 season, marking an improvement on last year’s annual loss of €199.2 million.

Meanwhile, the Serie A club have revealed plans for a €110 million capital increase. This is being backed by Exor, the Netherlands-based holding company of the Agnelli family, which has provided €30 million of the latest increase.

Juventus’ revenue increased from €394.6 million to €529.6 million over the last year, which was partially driven by the club’s return to the Champions League. UEFA revenue accounts for €75.3 million of the club’s overall income, while the Turin-based side received an additional €27 million from FIFA for their participation in this year’s Club World Cup.

In addition to the capital increase, the board also confirmed the launch of a new €150 million bond issue on September 26, designed to refinance existing debt and provide further working capital.

Comments from analyst

Berenberg analyst Trion Reid highlighted in a comment that Juventus management has adjusted its 2026/27 strategic plan downwards, with only a limited improvement in profit and cashflow expected this season, and breakeven in 2026/27.

“The capital increase will be the fourth since the 2019/2020 season and will take the total raised to more than €1 billion. However, net debt was still €271 million at the end of June and management’s expectation for positive profit and cash generation has now been pushed out until at least 2026/27.

 

Premier League could dock clubs six points for breaches of proposed regulations

The Premier League is seeking to impose a six-point seduction for clubs that breach proposed new financial regulations to replace its profit and sustainability rules (PSR) from next season, The Guardian has reported.

Under the proposed squad-cost ratio (SCR) regulations, teams’ spending would be limited to within 85 per cent of their overall revenue, with clubs guilty of exceeding their cap docked six points. This assimilates UEFA’s own SCR rules, which has a limit of 70 per cent.

These sanctions would reportedly take effect in real time, as opposed to retrospective action under the current PSR system.

League ‘cautiously optimistic'

According to the newspaper, the Premier League wants clubs to take a vote on proposals to introduce SCR during an upcoming shareholders’ meeting in November.

The English top flight reportedly intends to reduce to the cap limit to UEFA’s threshold of 70 per cent over the next three years, and harbours ‘cautious optimism’ that this will be approved. If not, the existing PSR structure will remain in place for the 2026/17 campaign.

 

Spurs have “unequivocally rejected” interest in takeover from US consortium

Tottenham Hotspur say they have “unequivocally rejected” an expression of interest to buy the club from a consortium led by US tech entrepreneur Brooklyn Earick.

In a statement, the Premier League club said: “The board of the club and ENIC reconfirm that Tottenham Hotspur is not for sale and ENIC is not looking to sell its stake in the club.”

The 41-year-old was weighing up a £4.5 billion bid to buy Spurs. The Earick-led consortium will have until 24th October to affirm either its intention to submit a bid for the club, or to not make an offer, as reported by The Athletic.

Mounting interest in Spurs takeover

This marks the third party to express interest in acquiring the North London club, since the departure of longtime chairman Daniel Levy earlier this month after 24 years.

After receiving multiple approaches regarding a potential takeover, Spurs recently declared that the club is “not for sale” after rejecting their interest. These parties reportedly include a consortium led by former Newcastle United director Amanda Staveley, and a separate group being led by Roger Kennedy, which comprises American and Chinese investors.

Introducing Data Spotlight

Starting today, we're launching Data Spotlight - a new feature where we dig into the numbers behind the headlines. Whether it's a major appointment or departure, or a club's latest financial report, we provide data-driven mini analysis to add context to the stories shaping football. First up: Monchi's exit from Aston Villa.

Data Spotlight: Squad value stagnation marks Monchi's Villa tenure

Monchi has departed Aston Villa after 27 months as President of Football Operations. While the club established itself as a consistent top-eight Premier League side during this period, the squad value data tells a contrasting story to that of their rivals.

Villa's squad value declined 1.7 per cent under Monchi's leadership - the only club among their top-six competitors to see their asset base shrink. Tottenham recorded nearly 30 per cent growth to reach €1.06 billion, while Arsenal stand at €1.52 billion.

Villa's squad currently sits at €625 million, a widening gap that reflects fundamentally different investment approaches among clubs competing for European places.

Transfer market restraint

The squad value trajectory stems directly from Villa's transfer market strategy. The club recorded a positive transfer balance of €27.8 million under Monchi - in a market where competitors invested heavily.

Arsenal led with net expenditure exceeding €460 million, while Tottenham, Newcastle, and Chelsea recorded net spending between €185-425 million. It's also worth noting that Villa operated under regulatory pressure throughout, working to comply with the Premier League's Profit and Sustainability Rules.

For a club navigating PSR constraints, Villa maintained top-eight status with minimal spending throughout Monchi's tenure. However, the start of this season - one goal in five matches - suggests the gap in squad investment may now be showing on the pitch.

 

Newcastle United owners invest further £111.5 million into club

Newcastle United’s owners have invested a further £111.5 million into the Premier League club, as revealed by a filing on Companies House.

This marks the largest investment into Newcastle since the club’s £305 million takeover in 2021 by a consortium led by Saudi Arabia’s Public Investment Fund (PIF).

Overall, the club’s ownership have injected £462.9 million since acquiring a 15 per cent majority share, with the remaining 15 per cent held by British businessman Jamie Reuben.

Newcastle’s latest investment

Of the latest share issue, £106.5 million has been invested into the men’s team, with the women’s team receiving £5 million.

This comes amid recent reports that Newcastle are seeking to raise up to £1 billion for a redevelopment of the club’s St James’ Park home. This could see either the renovation of the 52,000-seat venue, or the construction of a new stadium.

 

Czech businessman agrees Viktoria Plzeň takeover

Michal Strnad has agreed to a takeover of Viktoria Plzen through his company Palatua.

The Czech First League club confirmed Strnad’s majority stake acquisition, which is subject to approval from the Czech Competition Authority (UOHS).

Shareholders Adolf Sadek and Martin Dellenbach will retain minority stakes in Viktoria, with Sadek set to remain as the chairman of the club’s board of directors and CEO.

A “new chapter” for Viktoria

In a statement confirming the takeover, Sadek said: “I am happy that Viktoria Plzeň is acquiring a strong Czech majority owner who has built a global industrial group with strong roots in the Czech Republic.

“I look forward to the partnership with Michal Strnad. There are a number of huge challenges ahead of us, which we are looking forward to together. A new chapter in Pilsen football is beginning.”

The Premier League has pitched an alternative, systemic sustainability rules (SSR), which will involve cash-flow and balance sheets tests for teams, The Telegraph has reported. During a shareholders’ meeting on Tuesday, the Premier League clubs discussed potential replacements for the English top flight’s current profit and sustainability rules (PSR) structure.

Multiple clubs see this as a blatant attempt to “curb” any outside interference by the new Independent Football Regulator (IFR), which is set to become operational later this year.

In July, the Football Governance Act received royal assent to progress into UK legislation, with the new regulator set to preside over the top five tiers of English men’s football.

Clubs to vote on new system

Premier League clubs will take a vote on the proposed new regulations in November at the earliest.

There is a belief among several team executives that the proposed SSR system is intended to block any involvement by the IFR, which will place tighter scrutiny on clubs’ financial sustainability and ownership.
 

Liverpool owner FSG completes due diligence on Getafe

Liverpool owner Fenway Sports Group (FSG) has taken a step closer to acquiring Getafe, according to The Daily Mail.

FSG has completed a positive due diligence on the LaLiga club, as it looks to expand its ownership portfolio.

In August, FSG representatives met with Getafe owner Angel Torres, who previously stated that he would step down after the renovation of the team’s Coliseum Stadium is complete. The redevelopment project, which started earlier this year, is expected to be finished by the end of 2027.

FSG could adopt multi-club model

In June, UK media reports linked the US group with a potential takeover of Getafe, which would see FSG adopt a multi-club ownership model.

Currently, FSG’s portfolio includes the aforementioned Liverpool, in addition to baseball team the Boston Red Sox, and ice hockey franchise the Pittsburgh Penguins.
 

UEFA leaning towards suspension of Israel

UEFA is set for an emergency executive committee next week to vote on whether or not to ban Israel from European competitions, The Times has reported. This comes amid mounting pressure within UEFA to suspend Israel, with the majority of members and federations now said to be supporting a ban.

This week, a statement from UN experts has called for major football governing bodies UEFA and FIFA to suspend Israel, after the UN’s Commission of Inquiry determined earlier this month that the country was committing genocide in Gaza.

Notably, Russia has been banned from all UEFA competitions since the invasion of Ukraine back in 2022.

UN calls for Israel suspension

“Sports must reject the perception that it is business as usual,” the UN advisors said. “Sporting bodies must not turn a blind eye to grave human rights violations, especially when their platforms are used to normalise injustices.

“National teams representing States that commit massive human rights violations can and should be suspended, as has happened in the past.”
 

UEFA set to revamp Champions League rights tender process

UEFA is set to update its media rights tender process to allow broadcasters and streaming platforms to bid for Champions League rights across multiple markets, according to Bloomberg.

This would be a first for the elite European club football competition, with markets being tendered at different times under the current format.

European football’s governing body is also considering the possibility of longer-term media rights deals.

Could offer global rights

This move comes as part of a plan to appeal to streaming services such as Netflix and Amazon Prime.

The revamped tender process could enable bidders to acquire global broadcast rights for the first time, with UEFA set to release bidding tenders for 2027 and onwards over the coming weeks.
 

Liverpool issued more than 1,000 lifetime bans in clampdown on ticket touting last season

Liverpool issued 1,114 lifetime bans to supporters and closed 145,000 fake accounts as part of a clampdown on ticket touting during the 2024/25 season, according to BBC Sport.

11 of the aforementioned bans were given to season ticket holders, with 500 fans denied entry to Anfield for trying to access the stadium with a burner phone to prevent their tickets from being traced.

Although ticket resale is illegal in the UK, websites are able to circumvent this if they are based outside of the country. Last season, Liverpool investigators additionally closed down 162 groups across social media which sold fake tickets or resold legitimate tickets at extortionate rates. These groups had a combined membership of more than one million users.

Investigation exposes ticket resellers

Last week, a BBC Sport investigation revealed a black market that sells thousands of Premier League tickets.

The investigation found that resellers often use software as well as fake identities in order to acquire hundreds of tickets, which will then be sold at substantially higher prices.

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.

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.”

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.’

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.

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.