As club football pauses for the first international break of 2025, we have analysed which clubs are the most financially efficient and which are the biggest underperformers.

Our rankings are based on Off The Pitch’s Efficiency Ranking, which calculates a club’s expected points relative to its financial position. The algorithm determines expected points using key financial metrics, including the estimated wage bill for 2024/25, net transfer spending, squad valuation, and the wage-to-spend ratio.

Using this model, we identify the most over- and underperforming teams across Europe’s top five leagues, as well as the Championship. Since the model is universal, it enables comparisons across leagues, providing a broader perspective on club performance.

Top performers

Sunderland are currently the most financially efficient team across the selected leagues. Relegated from the Premier League to the Championship in the 2016/17 season, they dropped further to League One the following year.

In 2022, Louis-Dreyfus acquired a majority stake in the club, becoming the youngest chairman in English football. Since then, Sunderland have reached the play-offs once and are now in contention for another, currently sitting in fourth place.

Last season, Nottingham Forest finished 17th in the Premier League. This season, they have already amassed 54 points and currently sit in third place, making them serious contenders for a Champions League spot.

This also makes them the most financially efficient team in the Premier League. However, this is not due to frugal spending. In recent years, Forest have invested heavily in their squad to secure Premier League status. Now, with potential Champions League qualification on the horizon, their bold strategy appears to be paying off, completely transforming their outlook for the future.

Bournemouth have also excelled under the leadership of Andoni Iraola, currently sitting on 44 points. Based purely on financial data, they would have been expected to face relegation, yet they have completely defied those expectations.

The third most financially efficient team is the German side Mainz 05. In February 2024, Danish head coach Bo Henriksen was brought in to steer the team away from the relegation battle. Since then, he has completely turned things around, recently signing a contract extension, and Mainz are now unexpectedly pushing for European football, currently sitting in third place.

Another financially efficient Bundesliga team is FC Augsburg. Despite spending modestly, they have remained consistent and are currently in ninth place.

Looking to Italy, Bologna last year qualified for the Champions League for the first time since 1964. Despite selling key players such as Zirkzee and Calafiori in the summer, and facing the added challenge of European fixtures, they continue to thrive in the domestic league. With 53 points, they currently sit in fourth place.

Premier League underperformers

All three newly promoted clubs to the Premier League rank among the 10 worst-performing teams in terms of financial efficiency. Southampton, Leicester, and Ipswich have endured historically poor seasons, and statistically, the likelihood of any of them surviving at this point is less than 1 per cent.

Southampton are rock bottom, both in the league and in terms of efficiency score. Despite already being projected as the weakest team, they have still managed to underperform expectations, highlighting just how dire their situation is. 

So far, they have accumulated only nine points. The record for the lowest-ever Premier League points total belongs to Derby County, who finished the 2007/08 season with just 11 points.

Leicester, meanwhile, look nothing like the team they were before their relegation in 2022/23. Following Enzo Maresca’s departure to Chelsea in the summer, they have gone through two managers. First, Steve Cooper, who was sacked in November, and now Ruud van Nistelrooy, who has struggled significantly.

Ipswich Town, arguably the most excusable of the three promoted sides, should still be able to compete more effectively given their financial resources. However, they too have been unable to cope with the demands of the Premier League.

Champions League finalist in trouble

Two historically top six Premier League clubs are also among the 10 lowest performers—Tottenham Hotspur and Manchester United.

Tottenham’s defeat to Fulham last weekend marked their 15th loss of the season, their highest tally since the 2008/09 campaign. 

However, they are still in the Europa League, where they have a chance to salvage their season. Winning the competition would not only secure silverware but also grant them a Champions League qualification spot, offering a lifeline after a disappointing domestic campaign

Manchester United find themselves in a very similar position to Spurs, having also struggled with injuries. However, one key difference is that they changed head coach, appointing Rúben Amorim in November. Like Tottenham, they still have a chance to redeem their season in the Europa League.

Finally, last year’s Champions League finalists Borussia Dortmund are also worth mentioning, as they find themselves in the bottom half of the Bundesliga table and at risk of missing out on European football for the first time since the 2009/10 season. 

In February, they appointed former Bayern Munich manager Niko Kovač to turn things around, but so far, he has managed just two wins in six Bundesliga matches.

Despite their domestic struggles, Dortmund are still alive in Europe. After knocking out Lille in the Champions League round of 16, they now face FC Barcelona in the quarter-finals.

FC Barcelona have reached an agreement to remain at the Lluís Companys Olympic Stadium until the end of the 2024/25 LaLiga season, as reported by Mundo Deportivo.

The new deal, which was signed with local authority Barcelona Serveis Municipals (BSM), allows the club to continue playing home matches at the 55,926-seat venue until 20th May, following the team’s final league fixture against Villarreal.

In January, FC Barcelona submitted a request to remain at the Olympic Stadium for the remainder of the current campaign, following the cancelation of a Rolling Stones concert in May.

Camp Nou renovation

The extension of their agreement provides a viable option for the club, if the team are unable to return to the Camp Nou before the end of the season. The venue has been undergoing a renovation, which began in 2023, and is expected to be completed by June 2026.

The Catalan club initially planned to return to the Camp Nou before the end of 2024, however the stadium’s reopening was postponed in January until May at the earliest.
 

Serie A executive open to staging Italian Super Cup in India

The Italian Super Cup could be staged in India as part of a plan to expand the tournament’s global audience, according to Serie A commercial and marketing director Michele Ciccarese.

This competition, which was held in Saudi Arabia in January, has been hosted by a number of countries outside of Italy, including Qatar, the US, and China.

Speaking at the RCB Innovation Lab Indian Sports Summit, Ciccarese said: “What we do is to bring our international trophy like the Super Cup in all over the world, for a simple reason, to engage a wider audience and bring the best of that culture.”

Cross market activations

Ciccarese additionally suggested collaborations between Serie A and Indian Premier League (IPL) cricket clubs, in order to help grow Indian football ahead of the 2036 Olympic Games, for which the country is bidding to host.

“Maybe potentially to create a cross-market activation with the IPL together in order to help grow the grassroots, to have the right presence in the 2036 Olympics for Indian football.”
 

New San Siro plans approved by Municipality of Milan

AC Milan and Inter Milan’s proposals for a new stadium at the San Siro site, and regeneration of its surrounding area, have been approved by the Municipality of Milan.

Earlier this month, the two clubs submitted a feasibility plan and proposal for the acquisition of the San Siro, as well as a plan to build a new stadium.

The two clubs are aiming to finalise the acquisition of the stadium and its surrounding area by July, and will continue to collaborate with the Municipal Administration.

AC Milan president optimistic

Paolo Scaroni, president of AC Milan, outlined his optimism on the new stadium plans during an event organised by PWC and Calcio e Finanza, and revealed plans for expanded hospitality in a new San Siro.

"Of the 71 thousand spectators that we imagine the new structure will have, we will have around 9 thousand corporate ones, which we will sell to companies."
 

2026 World Cup lands on RTVE in Spain

Spanish public broadcaster RTVE has acquired rights to the 2026 FIFA men’s World Cup, according to El Mundo.

The agreement is worth €55 million, and will see RTVE sublicense rights to select matches to Mediapro, which will be able to create its own channel to sell World Cup rights to other networks.

RTVE outbid private broadcasters in order to secure rights to next year’s competition, which will be staged across the US, Canada, and Mexico.

RTVE’s expansive portfolio

RTVE’s latest deal takes the free-to-air (FTA) broadcaster’s overall investment into sports rights to more than €360 million, also including a €50 million deal for the 2028 European Championship broadcasting rights..

The network’s content offering also includes the men’s UEFA Champions League finals, as well as Spanish domestic cup the Copa del Rey.

INEOS has reportedly ended its partnership with Tottenham Hotspur, as reported by Mail Online.

The UK-based chemical company, which acquired a 27.7 per cent minority stake in fellow Premier League club Manchester United last year, initially partnered with Spurs in 2022, in a deal that designated the INEOS Grenadier as the club’s 4 x 4 partner.

Sir Jim Ratcliffe-owned INEOS has agreed to an early termination of the five-year contract, which includes a ‘multi-million pound’ pay out.

INEOS exits another sports partnership

The end of INEOS’ agreement with Spurs follows recent terminations of the firm’s deals with Sir Ben Ainslie’s America’s Cup team.

Meanwhile, the company is currently facing legal action from New Zealand Rugby, following the cancelation of their deal, which was set to run until 2027.
 

Future of Inverness at ‘significant risk’, says Scottish club

Inverness Caledonian Thistle have revealed in a statement that the Scottish club’s future is at ‘significant risk’, after not receiving any takeover bids before the 6th March deadline.

Despite receiving some interest, potential investors cited three main concerns with purchasing the Scottish League One team, the first of which being the the levels of loans from club directors, which total around £3.5 million.

Prospective buyers also cited the nature of Inverness’s ‘disparate shareholdings’, which would make it more difficult to acquire adequate control of the club, as well as uncertainties regarding the ownership of the land surrounding the team’s Caledonian Stadium home.

Inverness’ financial struggles

Inverness entered administration in October, amid the club’s financial difficulties, and were subsequently docked 15 points by the Scottish Professional Football League (SPFL).

The club say that their joint administrators are aiming to ‘work towards a resolution’ in order to exit administration and retain their place within the SPFL.
 

UK Government “absolutely committed” to Football Governance Bill

The UK Government has progressed with its Football Governance Bill, which has continued to pass through the House of Lords. A spokesperson from the UK Government told The Times: “We are absolutely committed to introducing an Independent Football Regulator to put fans back at the heart of the game."

“Ministers have been consistently clear that the Bill, which continues to progress through Parliament, will introduce a “light touch” set of rules to improve the sustainability of clubs and help ensure the game continues to thrive in communities for generations to come.”

Once it passes into legislation, the Bill will see the introduction of a new independent regulator to oversee the top five tiers of English men’s football. This comes as part of a plan to protect the financial sustainability of clubs, while providing greater representation for supporters.

The independent regulator’s first chairman

Meanwhile, the Government has reportedly shortlisted three potential candidates to become the chairman of the new Independent Regulator.

These include former Aston Villa CEO Christian Purslow, as well as Sanjay Bhandari, who serves as chairman of anti-discrimination organisation Kick It Out, with the third candidate unknown.
 

Former presidents of Spanish club Cordoba sentenced to four years in prison

Former presidents of Spanish club Cordoba, Jesus Leon and Carlos Gonzalez, have been sentenced to four years in prison, due to disloyal administration.

The Cordoba Provincial Court determined that the two former executives used club money in February 2014 to fund renovation works at Gonzalez’s house.

Both former executives concealed these payments under invoices from Grupo Constructor Grucal Andalucia, of which Leon served as president, for the construction of the Ciudad Deportiva de la Fundación Córdoba, which never took place.

The court ruling

In addition to their sentences, both Leon and Gonzalez were ordered to pay €1.2 million back in compensation to Cordoba.

Last July, Leon was previously ordered to pay €3.8 million in damages to the club, and received a three-year ban from managing other people’s assets by the Commercial Court of Cordoba.

Manchester United co-owner, Sir Jim Ratcliffe, has said he would walk away from the club if he received the same abuse as the Glazer family, during an interview with The Times.

The INEOS CEO, who acquired a 27.7 per cent, reported £1.25 million stake in the club last year, has drawn significant backlash in recent weeks, due to controversial cost-cutting measures at Old Trafford, including scrapping staff lunches, and making up to 200 redundancies.

“If it reached the extent that the Glazer family have been abused, then I’d have to say, look, enough’s enough guys, let somebody else do this,” Ratcliffe told the newspaper.

“They can’t really come to a match, the Glazers. They’ve retreated into the shadows a bit now.”

Ratcliffe defends Glazers

During the interview, the 72-year-old also expressed support for the Glazer family, after recent protests against the United’s majority owners before the club’s Premier League game against Arsenal.

“To be fair to the Glazers, they’re really good on the commercial side,” Ratcliffe said. “I get a lot of criticism if I support the Glazers, but the fact is they’re really decent people."

Manchester Mayor seeks £200m from UK Government for Old Trafford regeneration

Greater Manchester Mayor Andy Burnham is seeking £200 million in funding from the UK Government for the regeneration of Manchester United’s Old Trafford home, as reported by the Financial Times.

The club recently unveiled plans for a new, 100,000-seat venue that will reportedly cost around £2 billion, as part of a broader regeneration of the Old Trafford area.

Burnham was a part of the task force appointed by United last year to evaluate proposals for a new stadium, or the renovation of Old Trafford.

Next steps

UK Chancellor Rachel Reeves, who previously expressed support the project in January, is set to visit Old Trafford soon, according to Burnham, and is expected to confirm the Government's public expenditure plans on 11th June.

When announcing their new stadium plans, United said the project will potentially generate up to £7.3 billion for the UK economy each year, as well as providing 92,000 new jobs and more than 17,000 new homes.

UEFA confirms six-year agreement with Relevent Sports

UEFA and the European Club Association (ECA) have confirmed a new agreement between Relevent Sports, and their UC3 joint venture, which will see the company manage the commercial rights of UEFA club competitions.

Taking effect from 2027, the six-year agreement will run until the end of the 2032/33 campaign. Serving as the global commercial partner of UC3, Relevent will set up a dedicated company which will focus on further commercialising UEFA’s mens club competitions, including the Champions League, Europa League, and Conference League.

The US agency will offer strategic sales support across media, commercial, sponsorship, and licensing rights, taking over from Team Marketing, which has managed the sale of rights for UEFA competitions since 1992.

Relevent’s previous collaboration with UEFA

The New York-based form were granted exclusive negotiating rights with UEFA last month.

The new deal comes after Revelent previously helped UEFA secure a six-year, reported $1.5 billion US broadcast rights partnership with CBS.

Pogon Szczecin confirm new ownership to ‘save club’ from bankruptcy

Polish side Pogon Szczecin have confirmed Alex Haditaghi as their new owner, in a move to ‘save the club’.

The Iranian businessman previously held talks with Szczecin over acquiring the club in December last year. However, Szczecin owner Jarosław Mroczek opted to sell the club to a Brazilian group of investors led by Nilo Effori in January.

Just two months later, the club had defaulted on payments and failed to pay players, due to a lack of funding from the new ownership group.

Haditagh rescues Szczecin

In a statement, the club revealed that it was just ‘days away’ from insolvency, and would have collapsed if not for the intervention of the new owners.

Haditaghi’s group were in talks to buy another polish club, but opted to walk away from negotiations to take over Szczecin.

Ligue 1 and Ligue 2 unite against piracy amid DAZN legal dispute

France’s top two divisions, Ligue 1 and Ligue 2, have launched a joint campaign against piracy, calling for fans to subscribe to official broadcast partners to support their clubs.

On Friday 14th March, all clubs across the top two tiers of French football shared a message on their social media channels. A post shared to Lyon’s X page said: “Subscribing to a legal offer means helping OL win.

“Subscribing to official broadcasters is essential for OL's continued existence. So for our hopefuls, for our coaches, for our champions, for the love of the jersey and for singing, thrilling, and celebrating together, we say stop to piracy.”

LFP’s dispute with DAZN

Last month, Ligue 1’s domestic broadcaster DAZN announced legal action against the French Professional League (LFP), seeking €573 million in compensation.

As part of this complaint, the UK-based company sought €309 million for ‘market dishonesty’, accusing the LFP of not effectively addressing piracy. The legal battle was ultimately resolved at the end of February, with DAZN dropping its legal case, and making its outstanding payment of €35 million for February’s Ligue 1 broadcast rights.

Tony Bloom, the owner of Premier League club Brighton, has acquired a 19.1 per cent stake in the Australian A-League’s Melbourne Victory. The deal also allows him to increase his stake in the future.

Bloom’s entrance comes just over a week after Melbourne Victory fully cut ties with Miami-based investment group 777 Partners.

The investment sees Bloom expand his ownership portfolio, which also includes Belgian Pro League club Union Saint-Gilloise.

Independent of other interests

“We are extremely excited to bring someone of Tony’s calibre not only into Melbourne Victory, but of course, into the A-League,” Melbourne Victory Chairman John Dovaston said.

“While the investment is independent of Tony’s other footballing interests, we are confident that being able to leverage Tony’s network at Brighton and beyond will help propel Melbourne Victory forward with a further strengthened capital base."
 

Newcastle United to build new 65,000 capacity stadium

Newcastle United are set to build a new, 65,000-seat stadium, as reported by Mail Online.

The new venue will reportedly be located at Leazes Park, which is near the club's current home, St James' Park, where Newcastle have played since 1892.

Newcastle are set to present their new stadium plans to the UK Government, and will engage in talks with local authorities, before seeking final approval from the club’s ownership, Saudi Arabia’s Public Investment Fund (PIF). Following approval from the PIF, the new stadium plans will then be revealed to Newcastle fans.

Project 2030

According to a recent report from The Telegraph, Newcastle plan to launch Project 2030, a new five-year strategy intended to drive the club towards Premier League title contention and Champions League success. A state-of-the-art stadium formed part of this project.

Newcastle chairman Yasir Al-Rumayyan and the club’s owners were presented with the new venue plans during a board meeting in February.
 

FC Barcelona hire Goldman Sachs to help refinance Camp Nou renovation

FC Barcelona have hired US investment banking firm Goldman Sachs in order to help lower costs for the club’s renovation of Camp Nou, as reported by Bloomberg.

The LaLiga club are aiming to lower interest payments through a partial refinancing of the €1.45 billion raised in 2023 in order to fund the redevelopment project.

FC Barcelona, who face their first repayment of €583 million in 2026, are said to be looking for new ways to reduce interest costs.

Camp Nou’s makeover

The club’s iconic home stadium has been under renovation since 2023, with the venue set to expand to 105,000 seats when it reopens in 2026.

The project, titled ‘Espai Barça’, also includes the construction of a new multi-sport arena for sports such as basketball and handball, which will be called the Palau Blaugrana.
 

Womens Super League ‘may have to renegotiate’ domestic broadcast deal

The WSL may have to renegotiate its domestic broadcast rights agreement with Sky Sports and the BBC if it suspends relegation, as reported by The Guardian. The five-year £65 million partnership with the pay-TV provider and UK public service broadcaster takes effect from the 2025/26 season.

The elite tier of English women’s football is considering a pause on relegation from the division for the next four years, in order for the league to expand to 16 teams for the 2030/31 campaign.

If this comes to fruition, it could impact the WSL’s media rights contracts, which stipulate a 12-team competition that includes promotion and relegation.

WPLL CEO on relegation pause

Since last year, the WSL has been governed by Women’s Professional Leagues Limited (WPLL), alongside the Women’s Championship. Earlier this month, the company’s CEO, Nikki Doucet, said relegation was “critical” to the success of the WSL, but did not rule out a temporary hiatus.

The notion of abandoning relegation has drawn significant backlash from English women’s football fans.

City Football Group (CFG) has reported a pre-tax loss of £122.2 million for the 2023/24 season, despite Manchester City making a pre-tax profit of £103.4 million.

These latest figures bring CFG’s overall losses to £972.8 million since the holding company was first established in 2013.

The UK-based holding company’s now recorded a loss greater than £100 million for the last three successive years.

Record revenue for CFG

Although CFG was unable to offset its losses, the company brought in record income of £933.1 million for 2023/24.

Manchester City accounted for 77 per cent of the total figure, delivering revenue of £715 million, which marks an increase of £56 million on the 2022/23 campaign. However, this could be impacted if the Premier League champions are unable to qualify for next season’s Champions League.

Among the 13 clubs under CFG's partial or total ownership are Manchester City, Girona, Palermo and New York City FC.
 

Newcastle United set to launch ’Project 2030’ to challenge England’s top clubs

Newcastle United are set to launch ‘Project 2030’, a new five-year plan for the Premier League club’s growth, as reported by The Telegraph.

Saudi Arabia’s Public Investment Fund (PIF) are intent on establishing the team further both in the English top flight, and the Champions League.

The project comes after a board meeting in February led by Newcastle chairman Yasir Al-Rumayyan, who believes that the club has the potential to challenge for Premier League and Champions League titles within the next five years.

Key pillars of Project 2030

Newcastle have identified four main areas for the club’s growth, including winning a trophy, building a new state-of-the-art stadium, further development of the men’s first team squad, and reducing the revenue gap between the club and the ‘Big Six’.

As part of Project 2030, Newcastle are also aiming to bolster their women’s team, in order for them to compete in the WSL.
 

International union accuses FIFA of denying Azteca Stadium inspection

FIFA has been accused of denying access to inspect Mexico’s Azteca Stadium ahead of the 2026 World Cup by global trade union the Building and Wood Workers’ International (BWI).

According to a statement by the BWI, the organisation was unable to assess working conditions at the 87,523-seat venue, which is being renovated for next year’s tournament. The Azteca, which is located in Mexico City and is home to Club America, is set to host five World Cup fixtures in 2026.

Amber Yuson, general secretary of the BWI, said in a press conference: “The World Cup is global, and we must play by global rules and the global labor standards."

“The role of an international organisation as BWI is to come and to be an independent inspector to see if what they are saying is true or not.”

FIFA response

In a statement to The Athletic responding to the allegations, FIFA said: “The Azteca Stadium and its construction process is not managed by FIFA.

“Through its local team and in close cooperation with the Azteca Stadium, (FIFA) is actively engaging with stakeholders and monitoring the conditions offered to the workers.”
 

Manchester United CEO admits "risk" in new stadium plans

Manchester United CEO, Omar Berrada, has admitted that there is “risk” in the club’s decision to build a new £2 billion stadium. The Premier League club unveiled plans for the 100,000 seat venue earlier this week, which is set to be completed in time for the 2030/31 season.

As reported by The Times, Berrada was asked at the unveiling event for the new stadium about the club’s challenge of building an elite playing squad while constructing the venue, to which he responded: “That is a risk."

“We don’t want to inhibit our ability to invest in the team, for us to continue being competitive while we are building a new stadium."

“There’s various ways around that and one of the things we are looking at is to shorten the construction timelines so we can have a new stadium within five years.”

United’s financial struggles

Plans for the club’s new stadium came after Sir Jim Ratcliffe’s recent interview, in which he said that United would have “run out of cash” by the end of the year, if not for cost-cutting measures.

In February, Manchester United confirmed that up to 200 employees would be made redundant, with staff lunches also scrapped, amid financial challenges at the club.

Manchester United have confirmed plans to build a new 100,000-seat stadium, as part of a broader regeneration of the Old Trafford area, which will cost £2 billion.

Images of the new venue, which is expected to deliver an economic boost of £7.3 billion annually for the UK economy, have been revealed by Foster + Partners, the architecture firm that United hired last September to design the stadium.

Sir Jim Ratcliffe, co-owner of Manchester United, said: “Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, at the centre of a regenerated Old Trafford.

“The Government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance.”

Wembley of the North

Since Ratcliffe’s arrival last year, the club has progressed with plans regarding the club’s home stadium, after the INEOS CEO expressed a desire to build a “Wembley of the North”.

Last year, United appointed a task force to consider options for either the renovation of Old Trafford, or the construction of a new venue to replace the stadium, which has been their home since 1910.

DFL reports record revenue of €5.97 billion for 2023/24

The German Football League (DFL) has revealed record revenue of €5.97 billion in its Economic Report for the 2023/24 season.

That figure marks a 12 per cent year-over-year increase on last year’s revenue of €5.24 billion across the Bundesliga and 2 Bundesliga, the top two leagues in German football.

Media rights made up 31.95 per cent of the Bundesliga’s total revenue, standing at €1.53 billion, while transfers contributed €1 billion.

The German top flight’s assets reached a record valuation of €4.62 billion for the period ended 30th June 2024, up from €4.02 billion for 2022/23.

2 Bundesliga eclipses €1 billion in revenue

For the first time, Germany’s second tier division delivered revenue in excess of €1 billion, totalling €1.07 billion. This marks a €282.4 million, 35.9 per cent increase on last year’s revenue.

Transfer income meanwhile more than doubled, rising from €45.1 million to €98.5 million in a 118 per cent increase.

Official: San Siro stadium acquisition proposal by AC Milan and Inter Milan

AC Milan and Inter Milan have officially presented a proposal to the City Council for the purchase of the iconic San Siro stadium and its surrounding areas, as confirmed by a statement from AC Milan.

The two clubs, which share the historic venue, have been in discussions to build a new stadium adjacent to the current site. The plan includes partially demolishing the existing structure once the new one is completed.

The submission of the offer had been delayed due to a disagreement between AC Milan and Inter over a clause concerning what would happen if one club decided to withdraw from the agreement. This issue, which involved negotiations between RedBird Capital and Oaktree, has now been resolved, allowing the proposal to move forward.

Aiming to complete the aquisition by July

According to the statement, “AC Milan and FC Internazionale Milano have today submitted the DOCFAP to the Municipality of Milan. The document contains the proposal for the acquisition of the Stadium and surrounding areas, along with a feasibility plan for constructing a state-of-the-art stadium.”

Over the coming months, both clubs will work with municipal authorities to refine the proposal's details, with an aim to complete the acquisition process by July 2025. The final concept and executive project will be presented at a later stage and are not included in this initial submission.

English clubs could face UEFA expulsion over multi-club ownership

Premier League clubs Chelsea, Manchester United, and Nottingham Forest could face expulsion from next year’s UEFA competitions if their owners do not restructure their multi-club models, according to The Telegraph.

As per UEFA’s ownership regulations, teams under the same undershot are prohibited from competing within the same tournament.

Manchester United’s minority owner INEOS also holds a minority stake in French club OGC Nice, while Chelsea owner Todd Boehly is also a co-owner of Ligue 1 club Strasbourg, with Evangelos Marinakis listed as an owner of both Nottingham Forest and Greek club Olympiakos.

Multi-club ownership complications

The Telegraph reports that the aforementioned English club owners are now reassessing the acquisitions of more European teams amid potential expulsion.

Ahead of the 2024/25 season, Manchester City and Girona were given a clearance options from UEFA to compete in the Champions League, despite both teams being owned by City Football Group (CFG), after complying with the organisation’s integrity rules.

Lazio see revenue drop after failing to qualify for Champions League

Lazio have reported revenue of €87.5 million for the first half of the 2024/25 season, marking a 45 per cent decrease on the Italian club’s revenue of €158.8 million for the same period last year.

This is primarily driven by a decrease in media rights revenue, which dropped from €94.1 million to €53.7 million in comparison to the first half of the 2023/24 campaign due to Lazio’s lack of participation in this year’s Champions League.

The club additionally saw capital gains revenue fall from €39.2 million to €9.1 million.

Club posts overall profit

Despite the downwards trajectory of the club’s revenue, Lazio still made a profit of around €600,000 for the period, down from their €40.1 million profit for the first half of the 2023/24 season.

This was partially helped by a reduction in operating costs from €97.2 million to €87 million. Lazio’s net debt remains at €292 million, however net financial debt has increased from - €38.1 million to - €48.5 million over the last six months.

Manchester United co-owner Sir Jim Ratcliffe says that recent cost-cutting measures, including up to 450 total redundancies since last summer, were necessary in order to protect the club’s financial stability.

Last month, United confirmed that up to 200 roles would be made redundant at Old Trafford, following the Premier League club’s recent loss of £113.2 million loss for the 2023/24 season. But according to Ratcliffe in several interviews, the club "runs out of money at Christmas if we don't do those things."

“In super-simple terms the club has been spending more money than it has been earning for the last seven years, including this year. If you do that for a prolonged period of time it ends up in a very difficult place, and, for Manchester United, that place ended at the end of this year.

"At the end of 2025, Manchester United would have run out of cash. There would be no cash at the end of this year. That is the first time we have ever said that in public, but that is the fact of the matter.”

Better times ahead

Despite United’s financial woes, the 72-year-old insists that the club will be “very profitable” in the future, even projecting that it will be the world’s most profitable in three years’ time.

During the interview, he also revealed that United will not ask the UK Government for funding for the new stadium, however they “can’t afford” the full regeneration project for its surrounding area.

Bernabeu Stadium drives Real Madrid revenue increase to €590 million

Real Madrid have generated revenue of €589.7 million of the first half of 2024/25, according to the Spanish club’s financial statements.

This marks a 28 per cent increase on last season, when the club recorded revenue of €460.9 million for the six-month period between July and December.

Real Madrid’s net profit is up by 25 per cent on last year, rising from €23.6 million to €29.4 million.

Revenue increase driven by Bernabeu Stadium

The home of the LaLiga champions, the Santiago Bernabeu Stadium, played a key role in Real Madrid’s uptick in revenue. The 78,297-seat venue’s operating income almost tripled to reach €43.9 million.

That figure includes €24.3 million from stadium tours and experiences, €12.7 million from concerts, and €6.6 million from catering sales and events.

Liverpool confirm ‘£60 million a year’ Adidas kit deal

Liverpool have inked a multi-year partnership that will see Adidas take over as the club’s kit supplier from the 2025/26 season.

Although further terms of the deal were not disclosed, the new agreement is reportedly worth around £60 million annually.

The German sportswear brand will provide match kits training apparel and culture wear for Liverpool’s men’s, women’s and academy teams, replacing Nike, which had supplied Liverpool’s kits since 2020.

Adidas’ growing Premier League roster

The deal sees Liverpool join Adidas’ growing portfolio of Premier League partnerships, which include Manchester United, Arsenal, Aston Villa, and Newcastle United.

The £60 million a year contract is similar in value to the supplier agreements of Chelsea and Manchester City with Nike and Puma respectively, but is worth less than United’s deal, which is reportedly worth £90 million per season.

Arsenal set to appoint Berta as sporting director

Arsenal are set to appoint former Atletico Madrid executive Andrea Berta as the club’s new sporting director, as reported by Sky Sports.

The 53-year-old favoured a move to the Emirates amid interest from Manchester United and PSG.

In January, Berta reportedly entered discussions over a potential move to AC Milan, however talks with the Italian club broke down.

Previous success in Spain

At Arsenal, Berta will aim to replicate his highly successful 12-year tenure in the Spanish capital, where Atleti won two LaLiga titles, as well as the Europa League.

Berta replaces Arsenal’s previous sporting director Edu, who had served in the role since 2022, after arriving at the Premier League club as technical director in 2019.

English football chiefs hold ‘secret talks’ over new financial deal

Premier League and English Football League CEOs, along with representatives from eight clubs, have held ‘secret talks’ over a new financial deal for English football, according to Sky Sports.

The meeting came as part of a plan to secure a new financial redistribution agreement, before the Independent Football Regulator is introduced, overseeing the top five tiers of English men’s football.

The parties also reportedly discussed the annual calendar, as well as resource sharing.

New deal

One key aspect of the discussions was the ‘New Deal’ between the Premier League and EFL, which had previously been discussed until talks stalled last year.

As reported by Sky, one option that was mentioned during the discussions included the Premier League providing £925 million in additional funding to the EFL over two years. English football’s elite tier already provides £1.6 billion to the lower leagues through an existing agreement.

The Premier League is generating almost as much aggregate revenue as LaLiga and the Bundesliga combined, according to UEFA’s annual European Club Finance and Investment Landscape report.

The English top flight delivered revenue of €7.15 billion in 2023, which is almost double that of LaLiga and the Bundesliga, which brought in €3.65 billion and €3.62 billion respectively. Meanwhile, Serie A posted revenue of €2.88 billion, while Ligue 1 accounted for €2.37 billion.

The Premier League’s club wage costs of €3.5 billion for 2023 were also significantly higher than Europe’s other elite divisions. LaLiga has the second highest wage bill of €1.99 billion, followed by Serie A (€1.48 billion), the Bundesliga (€1.47 billion), and Ligue 1 (€1.43 billion).

European leagues see revenue increase

Overall, revenue across Europe’s elite divisions saw its largest ever annual increase of €2.9 billion from 2022 to 2023, reaching €26.8 billion. UEFA forecasts this figure to rise to €29 billion for the 2024 financial year.

Sponsorship and commercial revenue saw the largest increase of 39 per cent, reaching €9.6 billion. According to UEFA, the primary source of club revenue has shifted from broadcast between 2009 and 2019 to commercial gate and revenue from 2019 to 2024.

UK ministers reportedly prepared for legal battle with Roman Abramovich over Chelsea sale

UK ministers are prepared to take on former Chelsea owner Roman Abramovich in court over the sale of Premier League club, as reported by The Guardian.

Although the West London outfit was sold to a consortium led by US businessman Todd Boehly in 2022 for £2.5 billion, the UK Government reportedly concerned with how the money from the sale would be spent.

As per the agreement, the proceeds would be committed to humanitarian aid for Ukraine, however the UK Government and Abramovich reportedly remain at odds over how the money should be distributed. This remains in a UK bank account controlled by Abramovich-owned company Fordstam.

Following Russia’s invasion of Ukraine in early 2022, sanctions were placed on the then Chelsea owner, with the Russian oligarch’s assets subsequently frozen. The UK Government would then grant a license for Abramovich to sell the club.

UK Government looking to seek “resolution”

A UK Foreign Office spokesperson told The Guardian: “This government is working hard to ensure the proceeds from the sale of Chelsea FC reach humanitarian causes in Ukraine as quickly as possible. The proceeds are currently frozen in a UK bank account while a new independent foundation is established to manage and distribute the money.

“UK officials continue to hold discussions with Mr Abramovich’s representatives, experts and international partners, and we will double down on our efforts to reach a resolution.”

Everton name Angus Kinnear as new CEO

Everton have confirmed the appointment of Angus Kinnear as the club’s new CEO.

The 47-year-old will join the Merseyside club from Leeds United, where he has served in the same role since 2017, effective 1st June.

Prior to his tenure at Elland Road, Kinnear previously held executive positions at Arsenal and West Ham United.

Further changes to Everton’s leadership team

Colin Chong, who has served as Everton’s interim CEO since the departure of Denise Barrett-Baxendale last summer, will remain at the club, overseeing their new stadium, which is set to become the team’s permanent home from next season, as well as its development of its surrounding area.

Everton’s incumbent director of football, Kevin Thelwell, and chief commercial and communications officer, Richard Kenyon, will both leave the club the end of the season.

Wrexham valued at £100 million after recent investment

Welsh football club Wrexham have reached a valuation of around £100 million, as reported by Bloomberg. This marks a 4,900 per cent value increase since Hollywood stars Ryan Reynolds and Rob McElhenney first took over the club for £2 million in 2021.

Wrexham’s value was further bolstered by recent investment from US investors the Allyn family, who acquired a 15 per cent stake in the club last October.

Reynolds and McElhenney have invested more than $11 million into Wrexham since their arrival.

The impact of Wrexham's Hollywood takeover

Since Reynolds and McElhenney's takeover, Wrexham have seen significant success both on and off the pitch. Currently placed third in League One at the time of writing, the team are chasing promotion for a third successive year.

Meanwhile, the club’s highly successful documentary series, ‘Welcome to Wrexham’, has helped expand the club’s US fanbase in recent years. According to a Google report last year, Wrexham are more popular than every MLS franchise, with the exception of Inter Miami.

Women's Super League will not permanently scrap relegation, says CEO

Women’s Professional League’s Limited (WPLL) CEO Nikki Doucet has said that although relegation from the WSL may be suspended, it will never be completely scrapped.

The WPLL, which oversees the top two tiers of English women’s football - the WSL and Women’s Championship - is considering a pause on relegation from the league for four years, according to recent UK media reports.

This move would come as part of a plan to expand the WSL to 16 teams for the 2030/31 season, with clubs reportedly set for a vote on the proposal at the end of the current campaign.

Relegation was ‘never under question’

“We believe promotion and relegation is a great thing. It makes English football distinctive from other leagues,” Doucet said.

“It’s something we all love about the game of football and that has never been under question. We fundamentally believe promotion and relegation is an important differentiator and an important competitive advantage for us, relative to other women’s sport leagues globally.”

Doucet confirmed that the WPLL is assessing all potential options in maximising the commercial potential of the WSL, adding: “Our mission is to build the most distinctive, competitive and entertaining women’s football competition in the world for the players and the fans for today and tomorrow.”

FIFA is considering a proposal to expand the men’s World Cup in 2030 to 64 teams, according to the New York Times.

The suggestion was reportedly put forward by the Uruguayan Football Association’s (AUF) president Ignacio Alonso, with FIFA president Gianni Infantino interested in exploring the possibility.

Uruguay will host one match in the 2030 World Cup, as part of a centenary celebration of the competition, alongside Argentina and Paraguay, with Morocco, Spain, and Portugal set to serve as the main hosts.

According to reports, the expanded format would only serve a ’one-off’, to mark the centenary edition of the World Cup.

FIFA to “analyse” new proposal

A FIFA spokesperson told UK newspaper The Guardian: “A proposal to analyse a 64-team Fifa World Cup to celebrate the centenary of the Fifa World Cup in 2030 was spontaneously raised by a Fifa Council member in the ‘miscellaneous’ agenda item near the end of the Fifa Council meeting held on 5 March 2025.

“The idea was acknowledged as Fifa has a duty to analyse any proposal from one of its Council members.”

Everton sign £350m refinancing deal for new stadium

Premier League side Everton have secured a £350 million refinancing deal for their new stadium at Bramley-Moore Dock, the club revealed.

The multi-year agreement was facilitated by JP Morgan according to The Athletic, with the Merseyside club stating that the new funding is from a “consortium of blue-chip institutional leaders".

Everton say that the move comes as part of new owner The Friedkin Group’s plans to “strengthen and stabilise” the club.

Everton’s new home

The 52,888-seat stadium is set to become the club’s permanent home from the start of the 2025/26 season, replacing Goodison Park, where the team have played since 1892.

Although the multi-sport venue reportedly cost more than £800 million to build the club expects Everton Stadium to generate a further £1.3 billion boost for the local economy.

NASL seeking new trial in legal battle with MLS and USSF

The North American Soccer League (NASL) is requesting a new trial against Major League Soccer (MLS) and the United States Soccer Federation (USSF), as reported by The Athletic.

Despite losing its antitrust case against them in February, in which the jury ruled unanimously in favour of MLS and the USSF, the NASL’s lawyers are challenging the jury’s instructions and the evidence allowed.

The request for a new trial was reportedly filed on Monday 3rd March.

NASL’s case against MLS and the USSF

The NASL has been embroiled in a longstanding legal dispute with MLS and the USSF, which dates back to 2017
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The NASL initially sought $500 million in damages, alleging that the elite football division and football governing body conspired against them by denying Division I and Division II certification for the NASL. This prevented it from competing with MLS, ultimately leading to the demise of the now-defunct league.