Michele Kang is set to become the sole majority shareholder of Olympique Lyon after reaching an agreement with Ares, the main creditor of Eagle Football Bidco, and Cork Gully, the liquidator of the holding company that controls around 87 per cent of the French club.

In a statement, Lyon said the agreement would increase Kang’s stake in the club and would see her commit up to €71 million in funding, rising to €75 million including transaction costs.

The transaction remains subject to approval from France’s national directorate for financial control (DNCG), which is expected to decide in the coming days whether Lyon will be permitted to remain in Ligue 1.

Set to leave Eagle Football structure

If approved, the deal would result in Lyon leaving the Eagle Football group and returning to the OL Groupe structure that previously owned the club.

The club said OL Groupe would remain listed on the stock exchange following completion of the transaction.

Real Madrid to take CVC case to Supreme Court after appeal dismissal

Real Madrid have announced plans to appeal to Spain’s Supreme Court after the Madrid Provincial Court dismissed a joint appeal by the club and Athletic Club against LaLiga’s agreement with investment firm CVC Capital Partners.

The court upheld an earlier ruling issued in February 2024, which validated the transaction underpinning LaLiga’s Liga Impulso project. Real Madrid said it respected the judgment but disagreed with its conclusions and considered that key legal, economic and institutional issues had not been sufficiently addressed.

In a statement, the club said the ruling failed to provide “a sufficient response to issues of extraordinary legal, economic and institutional relevance for the present and future of Spanish professional football”.

Real Madrid said the court’s decision was largely based on the view that CVC’s remuneration constitutes a cost linked to the commercialisation of audiovisual rights and that the operation does not affect clubs that chose not to participate. The club rejected that interpretation, arguing that the agreements directly affect the management of audiovisual rights, LaLiga’s economic framework and the interests of all clubs in the competition.

CVC agreement

The disputed agreement forms part of LaLiga’s Liga Impulso project, launched in 2021. Under the deal, CVC committed to invest €1.9 billion in exchange for a share of the league’s future audiovisual rights revenues over a multi-decade period.

The arrangement was approved by LaLiga clubs, with 38 of the 42 professional teams then competing in Spain’s top two divisions opting to participate. Real Madrid and Athletic Club were among the clubs that opposed the transaction.

Gladbach CEO Stegemann reopens debate over investor involvement

Borussia Mönchengladbach chief executive Stefan Stegemann has raised the possibility of future investor involvement at the Bundesliga club, suggesting that external capital could be considered if it aligned with the club’s values.

Speaking on the club’s podcast 'FohlenPodcast – Standpunkte', Stegemann said Borussia still had options to explore as they look for ways to strengthen their financial position. He pointed to initiatives at other German clubs, including co-operative models adopted by Hamburger SV, Schalke 04 and FC St. Pauli.

The comments come as Mönchengladbach prepare to begin a new stadium naming-rights agreement with energy services company Ista on 1 July. The deal will see the club’s stadium renamed Ista-Borussia-Park under a contract running until at least June 2031.

Funding options remain open

Stegemann, who succeeded long-serving finance executive Stephan Schippers at the start of 2025, said a future sale of stakes in the club could not be ruled out. He suggested that investor participation might be possible within a co-operative ownership structure.

“Maybe within the framework of a co-operative model there is the option to say that you are also comfortable with one or another investor because they would fit Borussia and the values of the club well,” Stegemann said in the club podcast.

Manchester United have acquired a 25-acre site near Old Trafford that the club plan to use for a proposed new 100,000-seat stadium, according to a club announcement.

The land, purchased from industrial warehousing company Indurent, is located around 350 metres north west of the current stadium. United said the acquisition secures the majority of the land required for the project.

The deal means United no longer need land owned by rail logistics company Freightliner, situated directly west of Old Trafford, for the development. Freightliner had been seeking around £303 million for its site, compared with United’s previous expectation of a fee of about £50 million.

Further plans due next month

The acquisition represents a change from the concept designs unveiled by United and Foster + Partners last year, which placed the proposed stadium adjacent to the existing Old Trafford site. The club said it does not expect difficulties securing the remaining land needed for the development.

United, Trafford Council and the Old Trafford Regeneration Mayoral Development Committee are due to present further details of the stadium and wider regeneration project on July 9.

Collette Roche, United’s chief executive of new stadium development, said the land acquisition was “absolutely critical” to plans for a new stadium and would allow the club to build close to Old Trafford while preserving supporter traditions linked to the current ground.

Giovanni Malagò elected president of the Italian Football Federation

Giovanni Malagò has been elected president of the Italian Football Federation (FIGC), succeeding Gabriele Gravina following his resignation earlier this year. Malagò takes charge as Italy seek to recover from their failure to qualify for a third consecutive World Cup.

The 67-year-old businessman secured 68.58 per cent of the vote at the FIGC assembly in Rome, defeating former federation president Giancarlo Abete. He arrives in the role after leading the organising committee for the Milano Cortina Winter Olympics held in February.

Malagò, a former president of the Italian National Olympic Committee and former futsal player, acknowledged the scale of the task ahead. “I am not afraid but I am highly mindful of the responsibilities. The expectations are absurdly high but that is also the case within the Federation itself,” he said after the vote.

Immediate challenges

The election follows a period of scrutiny for Italian football after the national team’s latest unsuccessful World Cup qualification campaign prompted criticism from supporters and political figures. Gravina stepped down after the outcome.

Among Malagò’s first priorities will be appointing a new coach for the men’s national team, reviewing youth development structures and overseeing preparations for Euro 2032, which Italy will co-host with Turkey.

Clermont Foot sale agreement reached ahead of ownership change

Clermont Foot have reached an agreement for the sale of the club, with 94.33 per cent of the shares set to change hands from current owner Coresports Alliance, according to a club statement.

The agreement would bring an end to Ahmet Schaefer’s ownership of Clermont Foot, seven years after he acquired the club. Stéphane Tessier, the former chief executive of Olympique de Marseille, is expected to lead the new ownership group if the transaction is completed.

The club said Schaefer and Tessier are scheduled to appear before France’s football financial watchdog DNCG today, as part of the process required to complete the takeover.

Awaits approval

The ownership change remains subject to regulatory approval before it can be formally completed. Clermont said all parties are continuing work to finalise the transaction in line with the required procedures and timetable.

Clermont finished 13th in Ligue 2 during the 2025/26 season. If the transaction is approved, the incoming leadership team will take control of the club ahead of preparations for the new campaign.

Newcastle United have held exploratory discussions with Arctos Partners over a potential investment in the Premier League club and its stadium plans, according to Bloomberg. The talks are understood to be at an early stage and may not lead to a transaction.

The club, which is majority owned by Saudi Arabia’s Public Investment Fund (PIF), has also approached other sports investors as it explores funding options for a stadium redevelopment project. PIF is considering whether to expand St James’ Park or build a new stadium.

Bloomberg reported that PIF has examined the possibility of selling a minority stake in Newcastle as part of the financing process. Any transaction would involve new capital being injected into the club rather than an existing shareholder reducing its holding.

Potential funding options

PIF owns 85 per cent of Newcastle, while Reuben Brothers hold the remaining 15 per cent. The club’s stadium plans are expected to require hundreds of millions of pounds in investment. Last month, Newcastle acquired properties surrounding St James’ Park, saying the purchases would provide greater flexibility for future development.

Arctos, which was recently acquired by KKR, holds minority interests in Paris Saint-Germain and Liverpool through an investment in Fenway Sports Group. Representatives for PIF and KKR declined to comment on the discussions, according to Bloomberg.

 

Proxy advisor urges Manchester United investors to oppose most directors

Institutional Shareholder Services (ISS) has recommended that shareholders vote against 10 of Manchester United’s 12 directors, citing concerns over board independence and governance arrangements at the NYSE-listed football club, Bloomberg reported.

According to a copy of the proxy adviser’s report, only two directors were considered independent. ISS backed the re-election of Robert Leitão and John Hooks but advised investors to oppose the remaining directors, including six members of the Glazer family.

The recommendation comes ahead of Manchester United’s annual general meeting, with analysis of company data placeing the club among the lowest-ranked NYSE-listed businesses for board independence.

Further governance concerns

A separate report from shareholder adviser Glass Lewis also criticised Manchester United’s governance practices, including the company’s failure to publish detailed proxy voting results from previous annual meetings. “Such disclosure is a fundamental shareholder right,” Glass Lewis said, according to Bloomberg.

ISS also criticised the absence of a nominating committee and said the compensation committee should be fully independent. Glass Lewis questioned the size of the audit committee, which has two members, while ISS highlighted Robert Leitão’s role at Rothschild & Co, which advised the Glazer family on the sale of shares to Ineos.

 

DAZN creates new holding company structure ahead of IPO option

Sports streaming platform DAZN is reorganising its corporate structure as it seeks greater flexibility for future fundraising and a potential stock market listing, according to the Financial Times.

The company is establishing a new Cayman Islands holding company for the DAZN Group, with ultimate control remaining with owner Leonard Blavatnik’s Access Industries. Corporate filings show ownership has already been transferred from an existing holding company as part of the reorganisation.

An executive familiar with the process told the Financial Times that the changes were designed to “optimise the group’s corporate structure and enhance its flexibility to pursue future strategic and financing opportunities”, including possible capital raises and a public listing. The executive said no decision had been made on an IPO or its timing.

FIFA conncetion

DAZN has expanded its position in football in recent years, including a $1 billion agreement with FIFA last year to secure exclusive rights to the FIFA Club World Cup in the United States. Earlier this month, the streamer also agreed to integrate FIFA’s digital platform FIFA+ into its service, adding live matches, archive footage and other content.

The restructuring follows continued investment in the business by Blavatnik, who has provided more than $7 billion since DAZN’s launch. The company reported a reduced loss of $936 million in 2024, compared with $1.4 billion a year earlier, while revenue rose to $3.2 billion. DAZN raised a further $1 billion from Saudi Arabia last year in exchange for a minority stake.

 

Iran to complain to FIFA over World Cup travel restrictions

Iran’s football federation plans to lodge an official complaint with FIFA over travel arrangements at the World Cup, arguing that restrictions placed on the team have affected its preparations ahead of a decisive Group G match against Belgium.

The federation said Iran will only be permitted to arrive in Los Angeles 24 hours before Sunday’s fixture, having previously been required to return to their team base in Tijuana immediately after a 2-2 draw with New Zealand rather than remain in the host city for recovery work.

Iran head coach Amir Ghalenoei and captain Mehdi Taremi both criticised the arrangements after the New Zealand match. Taremi described recent weeks as a “disaster”, while Ghalenoei said Iran were the tournament’s “most oppressed” team.

Concerns over equal treatment

According to The Guardian, Iranian officials had argued for additional time in Los Angeles before matches and presented their case to FIFA, but were informed the team would again be unable to arrive two days before kick-off.

The federation said it believes the measures are “inconsistent with the principle of providing equal conditions for all participating teams” and could affect preparation. It added that a formal complaint would be submitted to FIFA while the national team remained focused on its match against Belgium.

 

Shrewsbury takeover close as buyers enter EFL test

Shrewsbury Town are edging closer to a takeover by a US consortium, with the prospective owners now understood to be undergoing the English Football League’s owners’ and directors’ test.

According to BBC Radio Shropshire, terms of a deal have been agreed and documentation has been submitted to the EFL as the League Two club continue discussions with the American group. Additional paperwork is also being prepared as part of the approval process.

The development represents the most advanced stage reached in Shrewsbury’s search for a new owner since chairman Roland Wycherley began seeking investment in September 2024.

Takeover process continues

The consortium currently in talks with Shrewsbury is understood to be different from a previous US-based group whose proposed deal collapsed last year because of external issues. Other takeover attempts have also fallen through during the past 12 months despite reported interest from several parties.

While the process is progressing, a deal is not believed to be imminent and Wycherley remains responsible for funding the club and its transfer activity. A successful takeover would bring an end to his three decades in charge of Shrewsbury.

Hull City must raise funds before 1 July to avoid a potential points deduction in the Premier League after exceeding the English Football League’s profit and sustainability rules (P&S) limit, according to BBC Sport.

The club secured promotion to the Premier League by beating Middlesbrough in the Championship play-off final. However, promotion has not removed concerns over the club’s financial position.

Reciprocal arrangements between the EFL and Premier League mean any sanction could now be applied in the top flight, creating pressure on Hull to complete outgoing transfers before the new financial year begins.

Owner acknolwedges

Player trading is expected to be central to Hull’s efforts to address the overspend with the club understood to be willing to listen to offers for key players.

Hull owner Acun Ilicali publicly acknowledged earlier this month that the club need to sell players before the accounting deadline. “We have overspent and we have to sell some players before 1 July,” he said during a supporters’ Q&A.
 

AFE seeks mediation over collective agreement negotiations dispute

The Association of Spanish Footballers (AFE) has filed a request for mediation ahead of a potential collective dispute claim after accusing LaLiga of refusing to establish the negotiating committee for a new collective agreement covering players in Spain’s top two divisions.

AFE said the move was prompted by what it considers a failure to comply with the 17th additional provision of Spain’s 2022 Sports Law, which sets out the requirements for trade union participation in collective bargaining. The union argued that the situation also affects its right to collective negotiation.

According to Marca, LaLiga rejected suggestions that it had refused to create the negotiating committee and said it had convened an initial meeting on 12 June at its headquarters, although no agreement was reached.

Disagreement over representation

The dispute centres on whether the Futbolistas ON union should be involved in negotiations. AFE maintains it is the only union entitled to negotiate after securing 856 of the 919 valid votes cast in elections held across the 42 dressing rooms in the first and second tiers.

AFE said Futbolistas ON received 57 votes, representing 6 per cent of valid ballots, below the 10 per cent threshold established by the 2022 Sports Law for participation in negotiations.
 

Anti-corruption authority clears Malagò to stand in FIGC presidential election

Giovanni Malagò has been deemed eligible to run for president of the FIGC after Italy’s National Anti-Corruption Authority (ANAC) issued a favourable opinion on his candidacy ahead of the federation’s election on Monday, 22 June.

The decision removes uncertainty over whether rules governing post-public employment appointments could prevent the former CONI president from standing.

According to ANSA, ANAC concluded that the so-called pantouflage provisions do not apply to the role of FIGC president. The issue had remained unresolved for several weeks following a request for clarification from Sports Minister Andrea Abodi.

The question centred on whether Malagò’s move from CONI, which oversees sporting bodies including the FIGC, could fall within restrictions on certain professional relationships after leaving public office. ANAC’s opinion removes the risk that his candidacy could be challenged on those grounds before the vote.

Legal interpretation

In its reasoning, ANAC said the relevant legislation covers collaboration, consultancy and employment relationships, but does not include appointments as president or member of a collegiate body within a private organisation. It therefore found that a key condition required for the restrictions to apply was absent in this case.

“I have learned with satisfaction of ANAC’s opinion,” Malagò told ANSA. The election will now proceed with Malagò and Lega Nazionale Dilettanti president Giancarlo Abete as the only candidates.

Leeds United are considering legal action against Leicester City following a ruling that ordered Everton to pay almost £40 million in compensation to Burnley over a breach of the Premier League’s Profitability and Sustainability Rules (PSR).

According to The Times, Leeds are examining whether Leicester’s financial rule breaches affected the club’s fortunes in both the 2022/23 and 2023/24 seasons. Leeds and Leicester were both relegated from the Premier League in 2022/23, while Leicester secured automatic promotion the following season as Leeds lost in the Championship play-offs.

Leicester were deducted six points last season after being found to have breached spending rules during the 2023/24 campaign, a sanction that contributed to their relegation to League One.

Ruling impact

The Burnley ruling is expected to be closely watched by clubs considering potential compensation claims linked to the 130 Premier League charges facing Manchester City, with several sides reportedly already preparing legal action should the club be found guilty of breaching the rules.

Leeds previously reached an undisclosed out-of-court settlement with Everton over the Merseyside club’s PSR breach after finishing one place and one point behind them in the Premier League.
 

Real Madrid submit ‘new evidence’ to UEFA and urge reopening of Negreira case against Barcelona

Real Madrid have informed UEFA that they have submitted what the club describe as new evidence in the Negreira case and have called for the immediate reopening of disciplinary proceedings against FC Barcelona.

In a statement issued on Wednesday, Real Madrid said they had provided UEFA’s disciplinary bodies with documents which they believe strengthen existing indications of long-term payments made by Barcelona to José María Enríquez Negreira, the former vice-president of the Spanish Football Federation’s Technical Committee of Referees.

The club said the material pointed to “prolonged, opaque payments” made through different corporate structures and argued that the transactions lacked “any verifiable justification”.

Integrity threat

Real Madrid said the alleged conduct represented a threat to the integrity of sporting competitions, claiming it suggested the existence of an improper mechanism of influence over referees that was incompatible with principles of neutrality, impartiality and equal treatment between competitors.

The club urged UEFA to adopt any disciplinary or corrective measures it considered appropriate and said it would continue to pursue steps aimed at ensuring such matters do not go unpunished.

Barcelona and several former club officials remain under investigation over payments of more than €7.3 million made to Negreira between 2001 and 2018. The club have denied wrongdoing, maintaining that the payments were for reports and advice relating to refereeing matters.
 

Gareth Bale launches $500 million sports investment fund alongside private-equity firm

Former Wales captain Gareth Bale has partnered with private-equity firm Juggernaut Capital Partners to launch a $500 million sports investment fund targeting opportunities across North America and Europe.

The fund, named Juggernaut Diversified Sports, will invest in sports teams, leagues and related businesses in both men’s and women’s sports. It will also consider opportunities in the youth sports sector.

Bale has previously been linked with takeover bids for his former club Cardiff City as well as Plymouth Argyle.

Preparing first investment

John Shulman, founder of Juggernaut Capital Partners, said the fund was already preparing its first investment. “We’re within about 60 days of making our first investment into a professional women’s sports team,” he said, adding that the group expects women’s sport to form part of its wider investment platform.

According to Juggernaut, the strategy will focus on acquiring and developing sports properties rather than taking passive stakes in established organisations. The firm said it sees opportunities across multiple segments of the sports industry.
 

UEFA imposes €10 million fine on Marseille alongside suspended European expulsion

UEFA has fined Olympique de Marseille €10 million and imposed a suspended competition exclusion and transfer ban after determining that the French club failed to meet financial sustainability requirements for the 2025/26 season.

The ruling by the First Chamber of UEFA’s Club Financial Control Body (CFCB) includes a €6 million penalty for breaching revenue-related regulations and a further €4 million fine after Marseille’s squad cost ratio exceeded the 70 per cent limit in the 2025 calendar year.

UEFA also said Marseille will be barred from registering new players for European competitions in 2026/27 and face exclusion from the next UEFA club competition for which they qualify within the following three seasons. However, those measures will only take effect if the club fail to meet financial targets set for 2026/27.

The governing body noted that Marseille’s finances had been affected by the decline in audiovisual revenue in France, but confirmed that the club had not achieved the profitability target agreed under UEFA’s sustainability framework.

Roma sanctioned

AS Roma were also sanctioned following UEFA’s review. The Italian club received a total fine of €6 million, comprising a €2 million penalty for slightly exceeding an intermediate financial target for the 2025 fiscal year and a further €4 million after their squad cost ratio rose above the 70 per cent threshold in 2025.

Seven clubs were announced to have complied with their settlement agreement thus exiting the settlement regime. These were AC Milan, AS Monaco, Beşiktaş JK, Inter Milan, Paris Saint-Germain, Royal Antwerp and Trabzonspor A.S
 

US fund set to take control of Frosinone to form MCO

Frosinone Calcio are set for a change of ownership following their return to Serie A, with club president Maurizio Stirpe reportedly preparing to sell a controlling stake to US investment fund Gamechanger 20, the owner of English club Ipswich Town, thus establishing a multi-club ownership group covering Premier League and Serie A.

Gamechanger 20 is the majority shareholder of Ipswich Town after securing a 90 per cent stake from Marcus Edwards in 2021. The fund is owned by Portman Holdings alongside Clara Vista Partners, ORG Portfolio Management and the Three Lions Fund. Three Lions is led by Brett Johnson and Berke Bakay, and also holds stakes in US clubs Phoenix Rising and Rhode Island FC.

Italian media report that discussions over a deal have been ongoing for around six months. Details of the transaction, including the ownership split and board composition, are expected to be announced on 1 July. Stirpe is expected to remain involved with the club and could continue as president.

Lazio owner close to Reggina takeover

Meanwhile, SS Lazio owner Claudio Lotito is close to acquiring Serie D side AS Reggina. According to Italian media, Lotito has submitted an offer of €2 million for the club, with current owner Nino Ballarino now considering the proposal amid continued interest from Underdog Global Partners' Matt Rizzetta.

A deal could be completed in the coming days, although the structure of the investment remains unclear. It is not yet known whether Lotito would acquire the club directly or alongside partners.
 

Former NBA player proposes €55 million investment in Liga F

Pau Gasol’s investment vehicle, Gasol16 Ventures, has proposed a €55 million investment in Liga F as the women’s football competition seeks to strengthen its commercial model and expand its international presence.

The proposal is due to be presented to clubs at an Extraordinary Assembly scheduled for 29 June. According to Spanish media reports, the transaction would rank among the largest private capital investments made in a women’s football league.

The investment is intended to support the competition’s growth in domestic and international markets while providing a long-term framework for Liga F and its member clubs.

Investment focus

Gasol16 Ventures, which invests in sports, health and wellness businesses, said the proposal is designed to help increase the visibility of women’s sport and attract additional capital to the sector.

The former NBA player has previously invested in women’s sports properties, including the WNBA and NWSL side Bay FC.

The owners of Crystal Palace are exploring a sale of the club, according to the Financial Times, with options said to include a full disposal as well as raising fresh capital.

Palace are working with advisers at Raine Group on the process. People familiar with the matter told the Financial Times that several ownership and financing options are under consideration, while the club is also assessing funding requirements linked to future growth plans.

The club's shareholder group includes Apollo co-founder Josh Harris, former Blackstone executive David Blitzer, New York Jets owner Woody Johnson and executive chair Steve Parish.

Ownership structure

Johnson became Palace's largest shareholder after acquiring a 43 per cent stake from Joh Textor last year at a valuation of £550 million. Harris and Blitzer together control 30 per cent of the club, while Parish holds 10 per cent and has served as executive chair since 2010.

The review comes as Palace continue work on plans to redevelop Selhurst Park and increase the stadium's capacity.

Ares and Michele Kang close to agreement for Lyon control

Ares Management and businesswoman Michele Kang are close to agreeing a deal to take control of Olympique Lyon, according to Bloomberg.

The transaction is being finalised with Cork Gully LLP, the administrator of John Textor’s Eagle Football Group Bidco, people familiar with the matter told.

Ares and Kang were both involved with Lyon during Textor’s ownership of the French club. The proposed agreement follows the collapse of Eagle Football Group and would give the pair control of one of its principal assets.

$547m owed

Earlier this month it was reported that Ares is owed more than $547 million following Eagle Football Group’s collapse. The debt includes $400 million in principal, with the remainder made up of accrued interest.

The recovery of funds owed to Ares is expected to depend largely on the disposal of Eagle Football’s assets, according to filings from the company’s administrators.

Benfica board blocks Tim Leiweke stake acquisition

SL Benfica have informed US investor Tim Leiweke that he will not be permitted to acquire a stake in the club, according to a report from Bloomberg.

The decision relates to Leiweke’s planned purchase of a 16.4 per cent holding in Benfica SAD from José António dos Santos, the company’s second-largest shareholder.

Leiweke’s fund, Entrepreneur Equity Partners, agreed the deal in April as part of a strategy to acquire minority investments in European football clubs. Benfica’s board has since communicated its position to representatives of both Leiweke and dos Santos.

The club’s statutes give the board authority to veto acquisitions exceeding 2 per cent of Benfica SAD’s share capital. The provision can be used where potential conflicts of interest are considered to affect the club’s independence.

Used veto before

Benfica previously exercised the same power in 2021 when it blocked an attempt by investor John Textor to acquire a 25 per cent stake in the SAD.

Benfica’s opposition to the proposed transaction is linked to the investor’s interests in other European football clubs, with the board concluding that the acquisition could not proceed under the club’s rules. Leiweke has recently invested in newly promoted Serie A side Venezia.

Newcastle United have agreed a three-year front-of-shirt sponsorship agreement with KNOX Hydration worth around £60 million, according to The Athletic. The South African sports drinks company will replace Sela as the club’s main kit partner under a deal running from the 2026/27 season.

The agreement expands KNOX’s existing relationship with Newcastle, having already secured naming rights for the club’s Darsley Park training ground in a separate three-year arrangement due to begin on 1 July. KNOX are paying £6 million per season under that agreement.

For the first year of the shirt sponsorship, KNOX will pay up to £10 million after Newcastle’s new home kit went on sale without a sponsor displayed on the front. Payments are then expected to rise to as much as £25 million annually over the following two seasons, subject to performance-related bonuses.

Additional revenue streams

KNOX are not affiliated with Saudi Arabia’s Public Investment Fund, which owns Newcastle, unlike outgoing sponsor Sela. The club will also work with KNOX on the launch of a club-linked drinks brand intended to generate additional commercial income.

Newcastle believe the combined sponsorship and training-ground agreements represent an increase on their previous arrangement with Sela, which was worth about £22.5 million per year. If all bonuses are achieved, the total value of the KNOX agreements would reach £78 million across the contract period.

13 World Cup nations criticise Ceferin over expansion comments

Thirteen nations competing at the 2026 FIFA World Cup have criticised UEFA president Aleksander Ceferin over comments they said dismissed the value of matches involving countries that have benefited from the tournament’s expansion to 48 teams.

In a joint statement, the football associations of Cape Verde, Curacao, Uzbekistan, DR Congo, Haiti, Algeria, Tunisia, Morocco, Egypt, Ghana, Senegal, Ivory Coast and South Africa said they were “profoundly disappointed” by remarks attributed to Ceferin about the enlarged competition.

The statement was issued after Ceferin said that the increase from 32 to 48 teams would result in more matches that were “completely uninteresting”. The associations responded: “For our countries, there is no such thing as an unimportant World Cup match.”

World Cup expansion debate

The 2026 tournament in the United States, Mexico and Canada is the first World Cup to feature 48 teams, following FIFA’s decision to expand the competition from the 32-team format used since 1998.

The associations said qualification represents a historic achievement for emerging football nations and argued that every team had earned its place on merit.

Lazio need €19.5 million to avoid transfer market restrictions

S.S. Lazio will need to inject €19.5 million in fresh capital or end the summer transfer window with a positive balance after breaching Serie A's extended labour cost ratio threshold, according to a report from by Calcio Finanza.

The club recorded an extended labour cost ratio of 0.822, above the Italian Football Federation's limit of 0.7, which measures the relationship between sporting labour costs and club revenues.

Under the regulations, the club can remove the restrictions through shareholder funding or by generating credits through player sales.

Lazio confirm registration rules

Despite the breach, Lazio said in a statement that they had received confirmation from the independent commission responsible for assessing the ratio and could continue registering players in accordance with Article 90, paragraph 4, letter A of the FIGC's internal regulations.

The club did not comment on the reported €19.5 million requirement or indicate whether owner Claudio Lotito intends to provide additional funding. Lazio can also renew contracts expiring in June 2027.

Juventus FC have appointed Giovanni Carnevali as chief executive and general manager after reaching a mutual agreement with Damien Comolli to end his tenure as CEO and board member, the club announced.

Carnevali was also appointed to the board and will formally take on the role of general manager from 15 June.

Carnevali joins Juventus after a lengthy career in Italian football, most notably with Sassuolo, where he oversaw the club’s development both on and off the pitch. He has also served as a board member of Lega Serie A.

“I'm proud and honoured to join a club with such history and identity,” Carnevali said. He thanked the club, its majority shareholder and John Elkann for their confidence, adding that he would work with the organisation to pursue sustained growth and strengthen Juventus’ position domestically and internationally.

Comolli exits

Meanwhile, Juventus thanked Damien Comolli for his work during his time at the club and wished him success in his future career. The club’s statement said the separation was agreed by both parties and did not provide further details. However, the move follows a disappointing season on the pitch, with Juventus failing to qualify for the UEFA Champions League.

The change comes less than a year after Comolli joined the club. The French executive arrived as general manager in June 2025 and was promoted to chief executive in November.

Manchester United increase long-term debt by $125 million after refinancing

Manchester United have increased their long-term debt by $125 million after refinancing borrowings linked to the Glazer family’s 2005 takeover of the club.

A filing with the U.S. Securities and Exchange Commission showed that United have refinanced $425 million of senior secured notes due to mature next year. The debt has been replaced with a new facility worth $550 million, extending the repayment date to 2031.

The new borrowing carries an interest rate of 5.36 per cent, compared with 3.79 per cent on the previous notes. According to The Athletic, the higher rate is expected to increase the club’s annual interest costs by about $13.4 million.

Debt burden remains high

The refinanced notes are one of two long-term debt facilities on United’s balance sheet, alongside a $225 million secured term loan. Both stem from Malcolm Glazer’s leveraged buyout of the club in 2005, which loaded substantial debt onto Manchester United.

The SEC filing said the proceeds would be used to repay the existing notes and for “general corporate purposes”. Following the refinancing, United’s total financial debt stands at $976 million, while outstanding transfer liabilities amount to $486 million, with $280 million due within the next 12 months.

Kretinsky to become West Ham’s largest shareholder

Daniel Kretinsky has agreed a deal to increase his stake in West Ham United from 27 per cent to 43 per cent after reaching an agreement with Vanessa Gold to acquire additional shares in the club.

Vanessa Gold inherited her father David Gold’s shareholding following his death in 2023. In a joint statement published by the club, Kretinsky said the move would allow him “to provide the additional financing the club needs” to secure an immediate return to the Premier League.

The transaction will make the Czech billionaire the largest shareholder in West Ham, which were relegated from the Premier League at the end of the 2025/26 season and will compete in the Championship next term.

Regulator reviewing Sullivan situation

The agreement follows the resignation of former chairman David Sullivan, who stepped down while contesting allegations from several women that he abused his position of power in attempts to obtain sexual relationships, in claims dating back to the 1980s and 1990s.

Sullivan retains a 38.8 per cent stake in the club. The Independent Football Regulator is investigating the situation and has powers under its Owners, Directors and Senior Executives regime to determine whether individuals remain suitable to hold positions at clubs across the Premier League and English Football League.

FC Barcelona threaten Florentino Perez with legal action

FC Barcelona have initiated legal proceedings against Real Madrid president Florentino Perez over comments he made regarding the Negreira case, according to a statement issued by the club. The club said they have filed a request for conciliation, a legal step that allows Perez to withdraw the remarks before further action is taken.

The club said the filing was made under Article 205 of Spain’s Penal Code and relates to statements Perez made during a press conference on May 12 and in a media interview the following day. Barcelona added that they would pursue a criminal complaint if Perez does not retract the comments.

In the statement, Barcelona said the objective of the action is for Perez to withdraw remarks made “knowing them to be false”, adding that the comments were “slanderous and offensive to the image and reputation of the club”.

Perez comments targeted

Legal action follows comments made by Perez about the investigation into payments totalling €8.4 million made by Barcelona to former Spanish referees committee vice-president Jose Maria Enriquez Negreira. Speaking at a press conference in May, Perez described the matter as “the biggest scandal in history”.

Perez also said Real Madrid were preparing a dossier on the case for UEFA and questioned suggestions that the issue should be forgotten.

Barcelona did not specify which remarks form the basis of the filing but said the proceedings relate to statements made on May 12 and May 13.

INEOS sale of OGC Nice collapses ahead of mid-June deadline

INEOS’ proposed sale of OGC Nice to an American investor has fallen through, according to a report from Nice-Matin, despite negotiations advancing ahead of a deadline set by the club’s owners.

The Ligue 1 club has been up for sale for more than a year after INEOS mandated advisory firm Lazard to identify potential buyers. American interest in acquiring Nice had been reported for several months and a deal was understood to be close.

Prospective investors had visited the club’s training ground as discussions progressed. However, Jean-Claude Blanc confirmed on Friday that the transaction would not go ahead. Nice-Matin reported that “financial safety and sporting stability” were not sufficiently assured by the proposed buyers.

Prepare to remain in charge

The collapse of the deal comes after a period of uncertainty on and off the pitch for Nice. The club only secured their place in Ligue 1 for next season at the end of May with a 4-1 victory over AS Saint-Étienne in the promotion/relegation play-off.

INEOS are now preparing on the basis that they will remain Nice’s owners for the 2026/27 season. The group, which also holds a minority stake in Manchester United, remains open to a sale if a new buyer emerges.

Three US investment groups show interest in Torino takeover

Three US-based investment groups have expressed interest in acquiring Torino FC, according to Tuttosport, which reported that the approaches have been collected by Bank of America as part of its work exploring strategic options for the club.

The parties involved are understood to be investment funds and sports-focused holding companies rather than individual investors. They are said to be assessing a possible entry into Italian football through the acquisition of Torino.

Bank of America has gathered the initial expressions of interest, although discussions remain at an early stage.

Valuation gap

The key issue is said to be the difference between the valuation attached to the club by prospective buyers and that sought by president Urbano Cairo.

Potential investors value Torino at less than €200 million, or close to that level, while Cairo is said to value the club well above that mark. The gap is currently viewed as the main hurdle to any more detailed negotiations.

FIFA has agreed a new regulatory framework governing international player transfers and contract breaches after reaching a settlement that ended legal proceedings linked to former footballer Lassana Diarra’s challenge to the governing body’s rules.

The new regulations will come into force on 1 January 2027 and will replace the interim rules that have been in place since January 2025, following the European Court of Justice's ruling in favour of Diarra in late 2024.

The new framework follows discussions involving FIFA, FIFPro, European Football Clubs, the World Leagues Association and UEFA. Under the agreement, international employment relations between players and clubs will be determined through a social dialogue process involving the sport’s recognised stakeholders.

FIFA said the rules introduce a methodology for calculating compensation in cases of contract breaches by either players or clubs. Compensation will be based on objective criteria and the specific circumstances of each case. Parties will also be able to agree compensation clauses in advance, subject to defined safeguards.

New compensation rules

Under the regulations, players will be entitled to receive a share of transfer compensation paid in international moves. Footballers earning less than $150,000 in fixed annual remuneration will receive 5 per cent of the fixed transfer fee, although they may partially waive that entitlement under certain conditions.

The revised rules also strengthen enforcement mechanisms and introduce sanctions for abusive conduct.

FIFA said fines of up to six months’ salary may be imposed on players or clubs in such cases, while its Disciplinary Committee will be able to enforce decisions issued by recognised national dispute resolution chambers if national associations fail to do so within 60 days.
 

FIFA and FIFPro sign governance and player rights agreement

FIFA and global players’ union FIFPro have signed a memorandum of understanding that will give player representatives a formal role in decisions affecting professional football and bring an end to ongoing legal disputes between the organisations.

The agreement introduces a new framework for cooperation on matters including player welfare, employment conditions and the international transfer system. FIFA said the arrangement would strengthen dialogue between football’s governing bodies and player representatives.

As part of the deal, legal proceedings initiated by FIFPro against FIFA will be withdrawn. FIFPro president Sergio Marchi said the agreement was “an important step forward for football”, adding that players should have a meaningful voice in decisions affecting their careers.

Player protections expanded

The memorandum includes measures aimed at strengthening protections for players facing contractual and workplace disputes. These include cases involving isolation from first-team training, the withholding of passports and alleged misuse of registration procedures.

FIFA president Gianni Infantino said the agreement reflected a commitment to dialogue, adding that "It's about unity, about bringing everyone together."
 

Kretinsky weighs move to become West Ham’s majority shareholder

Daniel Kretinsky is considering a transaction that could make him the largest shareholder in West Ham United, according to people familiar with the matter cited by Bloomberg. The Czech billionaire has held initial discussions about acquiring shares from Vanessa Gold, who inherited her 25.1 per cent stake in the club following the death of her father, David Gold, in 2023.

The talks are one of several options being considered by Kretinsky and remain ongoing. No agreement has been reached and no decision has been made on any potential transaction.

Kretinsky, majority shareholder of Sparta Prague, already owns 27 per cent of West Ham after acquiring part of the stakes held by David Sullivan and David Gold for £150 million in 2021.

Ownership under scrutiny

West Ham’s ownership structure has come under scrutiny following allegations of historic sexual abuse against Sullivan, the club’s largest shareholder with 38.8 per cent. Sullivan denies the allegations and resigned as a director and co-chair of the club on Saturday ahead of the publication of a joint investigation by the BBC and The Times.

The new Independent Football Regulator has reportedly begun preliminary questioning related to the allegations before deciding whether to open a formal investigation. The regulator could ultimately require Sullivan to dispose of his remaining stake.
 

WNL clubs revolt against FA academy team plan

More than 50 clubs in the Women’s National League (WNL) are preparing to challenge plans to admit academy teams from Women’s Super League and Women’s Super League 2 clubs into the third tier, according to The Times. The group claims to have support from 52 clubs across the third and fourth tiers and could force a strategic general meeting before a final decision is made.

Under the plans, two academy sides would be added to each of the WNL’s two third-tier divisions. While some leading WSL clubs support the proposal, opponents argue it could affect competitive balance and player recruitment.

The Football Association is expected to decide in July whether four Professional Game Academy teams should enter the Northern and Southern Premier Divisions from the 2027/28 season. The WNL board approved the proposal last month, but clubs will not be given a formal vote on the measure.

Challenge governance process

In a letter seen by The Times, dissenting clubs questioned whether the process complies with league rules and raised concerns about governance. The clubs also rejected the use of “non-binding surveys, consultations, and/or other ad hoc informal engagement exercises” as a substitute for a formal vote.

The FA says the proposal is intended to increase senior playing opportunities for young English players. According to figures cited by the governing body, the proportion of WSL minutes played by English players has fallen from 51 per cent in 2018/19 to 25 per cent last season.

Everton FC have been ordered to pay Burnley FC £35.1 million after an independent Premier League commission ruled that the club’s breach of Profitability and Sustainability Rules contributed to Burnley’s relegation from the Premier League in 2022.

The commission awarded Burnley £26 million in adjusted losses, plus £9.1 million in interest calculated to July 31, 2025. Burnley argued they would have avoided relegation had Everton received a six-point deduction during the 2021/22 season rather than in the following campaign.

The claim was heard by the same independent commission that originally imposed a 10-point deduction on Everton for breaching PSR regulations, a sanction later reduced to six points. Burnley pursued compensation under Premier League rules that allow clubs to seek damages for losses caused by another club’s rule breaches.

"Dangerous and unworkable precedent"

Everton have appealed the decision, describing the ruling as flawed and warning that it could create wider consequences for English football. The club said: “This ruling sets a dangerous and unworkable precedent for English football.”

The outcome and subsequent appeal are expected to be monitored closely across the Premier League, with several clubs understood to be considering compensation claims of their own if Manchester City are found guilty in the league’s ongoing case, according to The Times.
 

Real Madrid extend €120 million-a-year adidas partnership

Real Madrid have extended their technical sponsorship agreement with adidas for a further eight years, strengthening a commercial relationship that has spanned more than three decades. The club announced the renewal a day after confirming a separate extension of their shirt sponsorship deal with Emirates.

Financial terms of the agreement were not disclosed by either party. However, Spanish media reported that the new contract is worth around €120 million per year, making it the largest technical sponsorship agreement in football.

Adidas will continue as Real Madrid’s official kit supplier, overseeing the design, production and sale of match, training and travel apparel across the club. Real Madrid president Florentino Pérez said the agreement was “the most important in the history of football”.

Shirt sponsorship income

The renewal forms part of Real Madrid’s wider commercial strategy to increase revenue from shirt-related partnerships. According to Diario AS, the club have targeted combined annual income of around €285 million from adidas, Emirates and technology partner HP.

The adidas announcement follows the extension of Real Madrid’s agreement with Emirates earlier this week, which will reportedly increase the club’s annual income from the airline to €100 million from next season. The deal announcements come after Pérez began a new presidential term following the club’s elections on Sunday.
 

West Ham owner Sullivan barred from youth and women’s teams since 2023

David Sullivan has been barred from contact with West Ham United’s youth and women’s teams since 2023 because of safeguarding concerns, according to The Times. The Football Association opened an investigation after being notified of historical allegations against the club owner, with restrictions understood to include preventing him from attending youth and women’s matches.

Sullivan said the measure was “a meaningless restriction”, arguing that he had no involvement with the club’s youth or women’s teams in any case, and added that he accepted it for “a quiet life” while the FA investigated a complaint that he denies.

The disclosure comes days after Sullivan resigned as West Ham’s joint-chair and director after becoming aware of the planned publication of what the club described as serious historic allegations against him. West Ham said it understood that none of the allegations related to the club or its operations.

Major partner concerned

Boyle Sports, West Ham's front-of-shirt sponsor for the 2025/26 season, has become the first commercial partner to comment publicly on the allegations facing Sullivan.

In a statement to The Athletic, the bookmaker said it was “extremely concerned” by the allegations and supported efforts by the Independent Football Regulator to review the matter. Sullivan has denied all allegations made against him, describing them as “factually incorrect and entirely false”.
 

Saudi Arabia launches sale process for several clubs amid privatisation drive

Saudi Arabia has opened the sale process for five clubs as part of its ongoing sports privatisation programme, according to local media.

The Ministry of Sport and the National Centre for Privatization & PPP have invited investors to express interest in acquiring Al Riyadh, Abha, Al Fateh, Al Tai and Al Shoulla. Interested parties have until 5 July to submit qualification documents.

The five clubs have completed the regulatory procedures required to enter the sale process, while additional clubs are being prepared for future offerings, with the timing of future sales expected to depend on the readiness of both clubs and prospective investors.

Separately, negotiations over the proposed sales of Al Najmah and Al Akhdoud are ongoing, with ownership transfers expected to follow the signing of final agreements.

PIF downscaling

The latest sales process follows the Public Investment Fund's disposal of a 70 per cent stake in Al-Hilal earlier this year.

The Saudi sovereign wealth fund has also reportedly explored bringing minority investors into Newcastle United as it seeks funding for the club's proposed stadium development.