Sheffield United have announced that the takeover of the club by the US consortium COH Sports has been completed.

COH Sports is led by Steven Rosen, the founder and chairman of Cleveland-based private equity firm Resilience Capital Partners, and Helmy Eltoukhy, co-founder and chairman of California-based biotechnology company Guardant Health.

In a statement, United said the pair will join the club’s board as co-chairmen “with immediate effect”.

£111 million paid to Prince Abdullah

According to The Athletic, COH Sports is paying United’s former owner, Saudi Arabia’s Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, $135 million (£111 million) for the South Yorkshire club and its property assets.

The takeover brings an end to Prince Abdullah’s 11-year association with United, who have been up for sale for over three years. The club are currently top of the EFL Championship table as they seek an immediate return to the Premier League following last season’s relegation.

Atlético Madrid consider new €70 million capital increase

Atlético Madrid are considering a further €70 million capital increase to help finance the new ‘Sports City’ project that will redevelop the area surrounding the Riyadh Air Metropolitano, according to Spanish media.

The LaLiga club is planning a major revamp of the 265,000 sq m around the stadium, with the construction of new sports facilities including football pitches, an artificial beach for water sports, a small golf course and multi-sports complex as well as restaurants, shops and cinemas.

It is understood the capital increase may also be intended to compensate for recent player trading, including the sale of Álvaro Morata to AC Milan in July for €13 million. Atlético had signed the Spanish striker for €65 million from Chelsea back in 2019.

Other options presented

Atlético are due to hold a meeting this week at which the capital increase looks set to be approved. Other options being presented include taking on more bank debt or seeking venture capital funding.

If the capital increase does go ahead, it would be the second such action given the green light by the club’s shareholders within the past six months. In June, a €70.7 million capital increase was approved, with the club issuing 378,352 new shares.

New Serie A president Ezio Simonelli cancels meeting over Mondadori role

In his first act as the new Serie A president, Ezio Simonelli has cancelled a meeting of the League Council due to take place on 27th December after questions were raised over his independence and eligibility for the position.

Simonelli, a former accountant of the late Silvio Berlusconi, was elected as the new Serie A chief after securing 14 votes at the league’s assembly on Friday, with the remaining six ballots left blank.

As reported by Italian media, the meeting scheduled for 27th December had been convened by the outgoing Serie A president, Lorenzo Casini, to ascertain whether Simonelli had resigned from his role at the publishing firm Mondadori, owned by Fininvest, which also owns the Serie A club Monza.

Trio of club presidents

The issue of Simonelli's alleged ineligibility had been raised by a minority in the Lega Serie A assembly, led by a trio of club presidents: Claudio Lotito (Lazio), Aurelio De Laurentiis (Napoli) and Urbano Cairo (Torino).

However, it is understood that Simonelli has in the past few days self-certified his resignation from Mondadori’s board of statutory auditors and has delivered documentation to the Italian league to that effect.
 

The Premier League is in danger of losing a £100 million TV contract with one of its Mexican rights holders, Fox Sports Mexico, after it failed to make payments owed for this season, The Guardian has reported.

It is understood the Premier League is considering its options, which include legal action, cancelling the contract and taking Fox Sports’s live games off air in Mexico until it is paid.

The broadcaster has failed to pay several other sports organisations whose TV rights it owns, including CONCACAF and the NFL. The NFL ceased transmission of its games on Fox Sports Mexico last week.

Cashflow problems

Fox Sports has a four-year contract to broadcast live Premier League games in Mexico, which runs until the end of the 2027/28 season, but is struggling to honour its commitments because of cashflow problems.

The deal began this season after the Premier League’s contract with Paramount+ was cancelled. Under the terms of a joint arrangement with HBO Max worth around £50 million a year, Fox Sports holds rights to show around 100 Premier League matches each season, with 90 broadcast by HBO.

EFL rules to limit League One and Two clubs’ owner investment

The English Football League (EFL) has announced the approval of new rules for Leagues One and Two restricting the amount of money injected by club owners that can be spent on player wages and transfer fees.

Under the changes, which the EFL said in a statement are designed to “stem financial losses” and will come into effect from the 2025/26 season, clubs will only be able to spend a proportion of any investment over £500,000.

Owners in League One putting £1 million or more into a club will only be permitted to spend 60 per cent on player-related expenditure, while League Two sides will only be allowed to spend 50 per cent.

SCMP rules

The rules bring equity investment into line with the EFL's Salary Cost Management Protocol (SCMP). Under the current SCMP rules, League One sides can spend 60 per cent of turnover on wages and transfer fees and League Two sides 50 per cent, but 100 per cent of any equity investment.

In a further change to the rules, only 60 per cent, in League One, and 50 per cent, in League Two, of extra football income – such as prize money, cup earnings or transfer fees – will be able to be spent on player-related expenditure. Previously, all of this money could be spent on the squad.

Owners can still spend an unlimited amount of money on non-player related costs such as infrastructure improvements or community projects.

Lyon could sell ten players in January in bid to avoid relegation to Ligue 2

As many as ten players could leave Lyon during the January transfer window as the French club looks to avoid potential relegation to Ligue 2, L’Équipe has reported.

Under sanctions imposed last month by French football’s financial watchdog, the DNCG, Lyon will be relegated unless owner John Textor’s Eagle Football Group can dramatically improve the club’s finances before the end of the season.

Textor has said that Lyon will look to raise fresh funds, including from player sales by clubs across the Eagle group, and it is understood there could be several departures from the Ligue 1 club in January.

Cherki linked with PSG and Liverpool

According to L’Équipe, as well as several fringe players, there a number in the first-team who may be sold, including French midfielder Rayan Cherki if a large offer is put on the table. The 21-year-old has reportedly attracted interest from Paris Saint-Germain and Liverpool.

It is understood that others who could leave include Ghanaian winger Ernest Nuamah, Nigerian striker Gift Orban, French defensive midfielder Maxence Caqueret and Algerian left winger Saïd Benrahma.

Newcastle United player agents waiting on overdue payments owed by club

The representatives of several Newcastle United players have been left in the dark after fees the club owed them were not paid on time, according to a report from The Athletic.

A number of agents should have received commission instalments in September and were believed to still be waiting last week, with no explanation provided as to what was happening or when it would be resolved.

High-profile squad members who are partially remunerated via image rights have experienced a similar delay, although Newcastle said they have recently taken steps to fix that problem.

Financial processing issue

The issue is believed to be a financial processing matter at ownership level, rather than cash flow or a bigger complication, and has not impacted regular wages. The club said deposits have now been made or are on the way and accepted their communication should have been better.

Although paying agents late often occur across the industry, Newcastle’s case is unusually long, especially given that it is a standard contractual obligation. Image rights are slightly different in that an invoice must be sent and if it does not arrive promptly, that could cause a delay.

FIFA and Netflix agree US broadcast deal for Women’s World Cup in 2027 and 2031

Netflix has secured the US broadcasting rights to the Women’s World Cup in 2027 and 2031 in a deal which marks a further push by the streaming giant into live sports.

In a statement, FIFA said: “The historic deal will provide US-based fans with unparalleled access to every match live and to immersive coverage, including star-studded studio shows in what is set to be an unprecedented celebration of the women’s game.”

No details of the deal’s financial value were given, but FIFA president Gianni Infantino – who criticised broadcasters for undervaluing offers to show the 2023 tournament – said: “This agreement sends a strong message about the real value of the FIFA Women’s World Cup and the global women’s game.”

Documentary series

FIFA said that in addition to offering live coverage, Netflix will produce exclusive documentary series in the lead-up to both the 2027 and 2031 tournaments, “spotlighting the world’s top players, their journeys and the global growth of women’s football”.

Last month, Netflix aired a boxing match between retired heavyweight legend Mike Tyson and social media personality Jake Paul and will broadcast two NFL games on Christmas Day as part of a three-year deal announced in May.

Everton have confirmed that the takeover of the club by The Friedkin Group (TFG), led by American businessman Dan Friedkin, has been completed.

Friedkin, who is also the owner of AS Roma, agreed to purchase outgoing majority shareholder Farhad Moshiri’s 94 per cent stake in Everton back in September, and has now received regulatory approval for the move to go ahead.

In a statement, Everton said the club has been acquired by Roundhouse Capital Holdings Limited, an entity within TFG. The transaction was finalised following an agreement between Moshiri’s Blue Heaven Holdings (BHH) and Roundhouse for the sale of BHH’s majority stake.

Marc Watts new executive chairman

Everton also announced that Marc Watts has been installed as the club’s new executive chairman. Friedkin, the chairman and CEO of TFG, is proposed to be chairman of the club’s board while Watts will be responsible in his role for the management of the club.

Ana Dunkel, TFG’s chief financial officer and Colin Chong, the club’s interim CEO, will also serve on the board. Everton said additional appointments will be made in the coming weeks.
 

Genoa takeover: A-Cap claim throws purchase of club by Dan Şucu into doubt

The takeover of Genoa by Romanian businessman Dan Şucu announced by the club earlier this week has been cast into doubt after the US insurance firm A-Cap, the largest creditor of previous owners 777 Partners, claimed it owns the club and never agreed to sell it.

In a statement provided to Bloomberg yesterday, A-Cap said: “A statement was released by Genoa CFC purporting to sell the club to an outside party. This is false.”

On Wednesday Genoa announced that Şucu, who owns Rapid Bucharest, had taken a 77 per cent stake in the Serie A club after agreeing to subscribe to a €40 million capital increase, with 777 remaining as minority shareholders.

In a further statement on the club website yesterday, Şucu outlined some of his plans for the club, and said: “It is an honour and a great responsibility to become the reference shareholder of Genoa CFC.”

However, A-Cap – which took over the management of 777’s football clubs following the collapse of the Miami-based group’s multi-club ownership portfolio earlier this year – has insisted the takeover was never approved.

“Non-approved clandestine operation”

In A-Cap’s statement, a spokesperson for the firm said: “This alleged sale was executed without the knowledge, approval or signatures of the club’s shareholders and without the club’s shareholder’s board representatives.

“Any attempt to falsely represent the status of Genoa CFC will be vigorously contested by the club’s shareholders. We regret that club management wasted time on this non-approved clandestine operation.”

A representative for Genoa told Bloomberg that the recapitalization process is final and that Şucu is now the majority owner of the club. The representative added that both Genoa and Şucu were advised by legal firms throughout the process.
 

Sir Jim Ratcliffe injects further £79 million into Manchester United

Sir Jim Ratcliffe has invested another $100 million (£79 million) into Manchester United, in line with his agreement with the Glazer family struck nearly a year ago, a new filing to the U.S. Securities and Exchange Commission (SEC) has shown.

Ratcliffe pledged to inject $300 million on top of his $1.3 billion purchase price for his initial 25 per cent stake acquired last December. He made a $200 million capital injection in February and according to the SEC filing has now completed the transaction ahead of the 31st December deadline.

The $100 million injection means Ratcliffe has paid just over $1.5 billion for his shareholding in United, increasing his stake from 27.7 per cent to 28.9 per cent.

Ownership of shares transferred to INEOS

The SEC filing also showed that Ratcliffe has transferred ownership of his shares in United to INEOS, bringing the club in line with the rest of the sports investments in his petrochemicals company’s portfolio.

Ratcliffe had purchased his stake in United last December through Trawlers, a company he solely owned based in the Isle of Man. Through INEOS, he is now the largest single investor in United, although the six Glazer siblings collectively own the majority of shares, at more than 40 per cent.
 

Sheffield United takeover by American consortium set to go ahead

Sheffield United’s takeover by the US consortium led by Steven Rosen and Helmy Eltoukhy is set to be completed, The Daily Telegraph has reported.

According to the newspaper, an announcement is now imminent on the deal, which is said to be worth more than £100 million.

Reports had emerged of a deal in principle being in place from last month, around the time Rosen attended the Steel City derby between United and Sheffield Wednesday.

EFL approval

The final touches of the proposed takeover are now understood to have been finalised after the deal was approved by the English Football League (EFL) earlier this month.

United, who are currently top of the EFL Championship table, have been subject to takeover talks over the last few seasons with different parties.

Current owner Prince Abdullah had previously been in discussions with Nigerian businessman Dozy Mmobuosi but a takeover never materialised.

 

UK minister: Bin Salman would have to go through new owners’ test under regulator

Saudi Arabia’s Crown Prince Mohammed bin Salman would have to go through the new tougher owners’ and directors’ test set by the independent football regulator because of their ownership of Newcastle United, a UK government minister has told the House of Lords.

Baroness Twycross, a digital, culture, media and sport minister who is overseeing the passage of the Football Governance Bill, told fellow peer Lord Moynihan that anyone who has a high degree of influence over a club would have to pass the test — and that would include Bin Salman.

However, it is understood Twycross then left the chamber and later passed a handwritten note to Moynihan saying she may have to clarify that position. One peer involved in the debate said it was “a farce”, but that as it stands Bin Salman would have to go through the owners’ test.

Invited by prime minister

The prime minister, Sir Keir Starmer, invited Bin Salman to come to watch a match in England with him less than two weeks ago, on a visit to Saudi Arabia.

The Saudi prince and de facto ruler of the kingdom is the head of the Saudi Public Investment Fund (PIF), which owns Newcastle. The Premier League approved the takeover in 2021 only after receiving “legally binding assurances” that the Saudi state would have no control over the club.
 

Valencia CF owner Peter Lim faces allegations of irregular management

A Spanish court has admitted a complaint filed against Valencia CF owner Peter Lim and several club directors in which they are accused of alleged crimes of unfair administration and corporate crime, among others.

As reported by Spanish media, the legal step implies that the court considers there are sufficient indications to initiate a formal investigation into the accusations.

The complaint points to irregularities related to the management of the LaLiga club under the direction of Meriton Holdings, the ownership group led by Peter Lim, which holds the majority shareholding in the club.

Among the accusations are the falsification of annual accounts, simulation of contracts and alleged irregularities in capital increases. According to the complainants, these actions would have benefited the interests of Lim and his business group to the detriment of Valencia.

Tense AGM ended early

The reports emerged ahead of yesterday’s Valencia AGM. During a tense meeting, club president Lay Hoon Chan was interrupted multiple times by some of the fanbase’s representative shareholders — some of whom asked about the possibility of a takeover.

Lay Hoon said the club was not up for sale but that Lim would study any offers received. The AGM was ended early due to the continued disruptions and interruptions from many of the shareholders.

In a statement, Valencia said the club and its board of directors “regret what happened” at the meeting, adding that the “unacceptable behaviour on the part of a group of the 190 shareholders attending in person” meant the meeting could not take place “within channels of normality, civility and respect.”

Genoa have announced that Rapid Bucharest owner Dan Şucu is to take over the Serie A club after the Romanian businessman agreed to subscribe to the €40 million capital increase proposed by the club.

In a statement, Genoa confirmed that Şucu has agreed to buy a 77 per cent stake in the club and that previous owners 777 Partners will remain as minority shareholders.

Genoa said: “The proposal, structured and highly strategic, will allow the capital increase to be fully subscribed, providing the club with the necessary resources to strengthen its sporting ambitions.”

“New chapter”

The club added: “The change of ownership represents a new chapter for the oldest club in Italy, with the hope that the entry of Dan Şucu can bring economic stability and new investments for the strengthening of the team and infrastructure.”

Şucu is best known as the founder of Mobexpert, the largest furniture brand in Romania with over 2,200 employees. As Rapid Bucharest owner he has invested in the development of modern infrastructure and a youth academy, which today has around 700 young athletes.
 

Sportsbank nears agreement to acquire 45 per cent stake in Crystal Palace

According to a report from The Daily Mail, global investment firm Sportsbank is nearing an agreement to acquire a 45 percent stake in Crystal Palace from American businessman John Textor.

The deal, which is led by south London businessmen Zechariah Janjua and Navshir Jaffer, is reportedly valued at £230 million.

Sportsbank has been chosen as the preferred bidder by Textor in the competition for control of the Selhurst Park boardroom. With talks progressing to an advanced stage, sources close to the negotiations are optimistic that the deal could be finalized by February 2025.

Discussion on the structure of the deal

The specifics of the transaction are still under discussion, with the main point of consideration being whether Sportsbank will directly purchase Textor’s share in Crystal Palace or invest in Eagle Football Holdings, Textor's company that oversees not only Crystal Palace but also Botafogo, Lyon, and Molenbeek.

It is also noted that two other parties retain an active interest in Crystal Palace.
 

Everton takeover: Deal set to be announced today

The Friedkin Group (TFG), after reaching an agreement in September to buy Farhad Moshiri's 94 percent stake in Everton, is now on the brink of officially taking over the club.

The Athletic reports that the takeover is expected to be announced today, following the completion of regulatory approvals from the Premier League, Football Association, and Financial Conduct Authority.

Sources close to the situation have indicated that the final step is simply the confirmation that all official paperwork has been finalized.

Will attend on Sunday

TFG representatives are anticipated to be present at Everton's upcoming Premier League match against Chelsea at Goodison Park this Sunday to mark the occasion.
 

Manchester United urged to deliver 100,000-seater stadium to regenerate Old Trafford area

Manchester United co-owners Sir Jim Ratcliffe and the Glazer family have been challenged to deliver a new 100,000-capacity stadium that can transform the wider region.

As reported by The Daily Telegraph, the Old Trafford regeneration task force headed by Lord Coe met for a final time on Tuesday afternoon before submitting an “options report” to the owners.

Ratcliffe, Joel Glazer and his brother Avram are expected to spend the next month studying the task force’s recommendations and findings as the club prepares to make a final decision next summer on whether to build a new world-class ground or redevelop their existing Old Trafford home.

“Wembley of the North”

Coe and the task force spelled out how they believe a vision for a “Wembley of the North” could serve as the catalyst for an extraordinary regeneration project.

“Manchester United will now work together with local authorities to review the findings and agree a path forward in the months ahead,” Coe said. United are targeting a 100,000-capacity ground if they go down the new-build route.
 

LaLiga allocates €1.5 billion in TV distribution for 2023/24 as Barça overtake Real Madrid

LaLiga has released the breakdown of its TV rights income distributed to clubs for the 2023/24 season, with the Spanish league handing just under €1.5 billion to first and second division clubs, 6 per cent less than in the previous year.

Of the total amount, 90.2 per cent was distributed to top-flight clubs. FC Barcelona received the most with €162.5 million, overtaking Real Madrid, who received €159.6 million. Madrid have refused to participate in an incentive scheme designed to boost the appeal of LaLiga TV broadcasts.

The distribution system takes into account the sporting results of the last five years, as well as efforts to improve the attractiveness of broadcasts and boost ticket sales.

Real Sociedad get biggest increase

Third on the list were Atlético Madrid, with €117.9 million. Apart from newly promoted teams, Real Sociedad had the biggest increase in TV rights income, with their receipt rising 8.6 per cent to €70.7 million.

In the Spanish second division, RCD Espanyol received the highest figure, with €10.2 million, which when added to the €16 million for compensation for their relegation in 2022/23, totalled €26.3 million.
 

Sevilla FC cut ties with Real Betis over player celebration complaint

Sevilla FC have decided to officially sever ties with LaLiga rivals Real Betis after a complaint made by Betis following their derby clash in October led to one-match bans for three Sevilla players.

Betis reported to the governing bodies that Sevilla’s Isaac Romero, Juanlu Sánchez and José Ángel Carmona celebrated their 1-0 win on 6th October by displaying a flag featuring the Betis crest crossed out. Last week, the players were suspended for their game against RC Celta de Vigo on Saturday.

In a statement released yesterday, Sevilla said the club “has decided to cut ties” with Betis, adding: “The existing relationship simply cannot exist any further considering this act by the Real Betis Balompié board of directors, an act that sought to deliberately harm our club and our on-field performance.”

“Dangerous precedent”

Sevilla’s statement continued: “The behaviour of Real Betis Balompié's board of directors in reporting the celebration of our players, and doing so to federal bodies and not to the Anti-Violence Commission, breaks an important code and sets a dangerous precedent, seeking sporting punishments for non-sporting acts.

“In the context of a fierce derby match, in front of the home fans, it seems strange that Real Betis Balompié's board of directors interpreted the celebrations as an act that generates violence.”

NWSL set to add Denver team amid talks over $105-120 million expansion fee

The NWSL is in the final stages of adding Denver as the league’s 16th team, with an expansion fee of between $105 and $120 million being discussed, according to a report from Sportico.

Such a figure would be double the $53 million expansion fee that Bay FC and BOS Nation FC paid as the 14th and 15th NWSL teams, respectively.

The NWSL has been in the final stages of announcing the 16th team, set to join the league in 2026 alongside Boston, for the final part of the year. Cleveland and Cincinnati were the two other markets on the league’s shortlist.

For Denver FC group

Former women’s professional player Jordan Angeli has been involved with Denver’s bid from the outset. Last July, she formed the For Denver FC group, which announced its intent to bring a professional women’s team to Denver.

The ownership group now also includes Robert Cohen, chair and CEO of IMA Financial Group, who was also involved in a potential Denver WNBA expansion bid. The group has indicated it plans to build its own stadium and training facility but would expect to begin playing in a temporary venue.

A fresh attempt is to be made to form a European Super League after A22 Sports Management, the company behind the project, revealed plans to relaunch the competition as the ‘Unify League’.

In a statement outlining the plans, A22 said the 96-team league would be completely merit-based, in contrast to the original Super League proposal unveiled in April 2021, and would replace the Champions League, not domestic competitions.

The Unify League would be divided into four divisions — Star, Gold, Blue and Union — with 16 teams each in the first two and 32 each in the second two followed by a knockout phase. Teams would qualify each year via their domestic competitions.

A22 said the competition would be streamed via a branded ‘Unified’ platform, and would offer free, advertising-supported viewing of matches as well as “affordable premium subscriptions”.

CJEU ruling

A22 said it will submit the proposal to FIFA and UEFA, and believes the organisations will have no option but to give permission to the new competition after the European Court of Justice (CJEU) ruled last December that UEFA’s blocking of the initial plan was contrary to EU law.

Bernd Reichart, the CEO of A22, said: “Our extensive engagement with key stakeholders revealed a number of pressing challenges facing the sport including increasing subscription costs for fans, an overloaded player calendar, insufficient investment in women’s football, and dissatisfaction with the format and governance of the current pan-European competitions.”

He added: “Our proposal is designed to directly address these challenges.”

John Hahn, co-founder of A22, said: “We have listened intently to a broad group of clubs, leagues and fans and with these changes believe we have a lot of support. We are not expecting the public support of clubs at this time, logically that will come following the official recognition of the Unify League.”

LaLiga dismisses ‘Unify League’ proposal

LaLiga has reacted swiftly to yesterday's announcement by A22 Sports Management that it plans to relaunch the European Super League as the ‘Unify League’.

In a statement, the Spanish league said: “Once again, A22 has presented yet another model of the failed European Super League, now called Unify League.”

It added that it is “a project that threatens the governance of European football by seeking to follow a handful of big clubs for their own benefit, promoting a broadcast rights commercialization model that would benefit only a few elitist clubs and destroy the economy of national leagues.”

LaLiga concluded by saying “the project continues to lack support from clubs, federations, players, fans, national governments and European institutions.”

As yet, no club has commented on the plans for the Unify League announced by A22. The only two teams who have continued to publicly back the European Super League project following its initial launch in April 2021 are Spanish giants Real Madrid and FC Barcelona.

UEFA and ECA insiders raise doubts

Meanwhile, The Times has reported that UEFA insiders insist there is almost no chance of the Unify League replacing the Champions League, with one senior figure describing the latest plan as “bullshit” and a “Christmas pantomime”.

According to the report, insiders at the European Club Association (ECA) have also raised doubts about the viability of the proposal, saying no business plan had been submitted on how A22 proposes to fund the new league.

The Unify League would need to pass four tests — administrative and financial, sporting and technical, ethical, and sporting merit — to be approved. Having sporting merit approved would mean securing the agreement of European Leagues and the ECA, both of which have been strongly opposed to the concept.

Al-Khelaifi and Textor text exchange reveals how relationship reached breaking point

An icy text message exchange between Paris Saint-Germain and Lyon owners Nasser Al-Khelaifi and John Textor this summer has been revealed by L’Equipe which appears to shed new light on how the pair’s relationship reached breaking point.

The series of messages, reportedly sent by the two men on 12th July, was sparked in part by PSG’s quest for Lyon’s 21-year-old French midfielder Rayan Cherki but also by the LFP’s bidding process for the latest domestic broadcast rights deal.

According to the L’Equipe report, Textor asked Al-Khelaifi to speak to him in relation to the media rights process, mentioning he was being kept in the loop through Lyon CEO Laurent Prud’homme. Al-Khelaifi is said to have replied: “You should know your guy knows nothing about TV rights, have a good day.”

Angry texts

After a series of further angry texts, Al-Khelaifi told Textor he has no intention of talking to him or even seeing him again. “Learn how to run a club and media, this is the last time I let you talk to me”, he reportedly said.

Textor replied that he was comfortable with this, adding: “You always say that you save everyone, which is just megalomaniacal behaviour.” Al-Khelaifi then ended the exchange by declaring: “You don’t understand anything about football and I’m wasting my time talking to you. You’ll lose wherever you go.”

Brest receive planning permission for new 15,000-capacity stadium

Brest have received planning permission from the city’s authorities to build a new stadium named Arkéa Park, which will have a capacity 15,000, roughly the same as their current home, the Stade Francis-Le Blé.

The Ligue 1 club have faced various issues this season after qualifying for the Champions League and have not been allowed to play any of their European games at the Stade Francis-Le Blé, instead playing at local rivals EA Guingamp’s Stade du Roudourou.

Brest currently receive exemptions from the LFP to play their Ligue 1 matches at the Stade Francis-Le Blé but in a statement said that renovating the stadium would prove to be more costly and less beneficial than constructing the new Arkéa Park.

“Structural problems”

In their statement, Brest said: “Renovating Le Blé would not only have been ineffective: it would not have solved the structural problems of parking, traffic jams, and the impossibility of developing services, linked to the limited land situation in the city centre.”

The club added that the budget for the new stadium is set at €106 million, “financed mainly by private money, with the participation of public authorities”.

Vancouver Whitecaps owners put MLS club up for sale

Vancouver Whitecaps are set to become just the fourth MLS club to be sold after their formation, with the Canadian side confirming that their current ownership group has put the team up for sale.

In a statement the club said the decision taken by owners Greg Kerfoot, Steve Luczo, Jeff Mallett and Steve Nash came “after careful consideration of the club's journey and reflection on what is required to ensure its continued growth and success.”

It added: “The current ownership has built a solid foundation for Whitecaps FC – it is the right time for an owner with the platform, resources and ambition to enhance the club’s ability to compete at the highest levels of MLS and steward the club in realising its significant potential.”

Three MLS teams sold

So far, only three MLS teamshave been sold after formation: Real Salt Lake, Houston Dynamo and Orlando City SC. The Whitecaps were founded in 2009 and joined the MLS in 2011.

No asking price for Vancouver has been released, although they reportedly paid $40 million to join the league. MLS expansion club San Diego FC, who are set to begin playing next season, reportedly paid a US$500 million expansion fee to join the league.

Real Madrid have spelled out their commitment to a restructuring of the Champions League in which the clubs not UEFA are in control – essentially a European Super League 2.0.

The Madrid CEO José Ángel Sánchez, who rarely speaks in public, has taken part in a Harvard Business School (HBS) case study – seen by The Guardian – in which he explains why he feels change is essential and highlights how the club are doubling down on their position.

Sánchez, who is the right-hand man of club president Florentino Pérez, likens UEFA to the musicians on the Titanic, playing on despite impending doom, and also compares the 15-times European champions to Asterix’s fictitious village, holding out against the Roman invaders.

“We have to change the system”

“If we want to preserve football’s leadership position in the sport and entertainment industry, we have to change the system,” Sanchez said. “The system as we know it is over – we need to organise things differently in the industry. That was the rationale behind the Super League and it is even more pressing now.”

Sánchez said Madrid would “keep working on the execution of the idea”. It is unclear what that involves or whether they have the support of other leading clubs. FC Barcelona are the only other club publicly clinging to the idea that the Super League concept could be revived.

Liga MX head Rodríguez resigns after clubs reject $1.25 billion investment deal

Juan Carlos Rodríguez has resigned as the commissioner of Liga MX and president of the Mexican Football Federation (FMF) after failing to get support from Liga MX owners for his proposed investment strategy for the league.

Rodríguez had pushed for a $1.25 billion investment deal with New York-based Apollo Global Management that would have involved pooling the Mexican league’s broadcast and some commercial rights. Clubs currently sell their own rights independently.

However, at a meeting on Friday Liga MX club owners rejected the proposal and no vote was taken, which would have needed unanimous support from all 18 teams to go ahead.

Mikel Arriola to be interim commissioner

The FMF released a statement after the meeting saying that Rodriguez had resigned due to “personal reasons.” It also announced that Liga MX president Mikel Arriola will be the league’s interim commissioner.

The statement read: “The assembly requested the interim commissioner to form a committee of 10 teams in January to continue negotiations with the investment fund, with a special emphasis on strengthening the corporate governance, and move forward with the transformation project for our football.”

Manchester City have reported club-record turnover of £715 million and a profit of £73.8 million for the year ending 30th June, 2024.
The figures follow revenues of £712.8 million and a profit of £80.4 million in 2022/23.

City won a record fourth straight English top-flight title last season and have been crowned Premier League champions in six of the last seven years. In 2022/23 they also won the Champions League and FA Cup to complete a treble-winning campaign.

Broadcast income for 2023/24 amounted to £294.7 million, compared with £299.4 million the previous year. Of the total figure, £104.6 million came from UEFA, down from £113.9 million in 2022/23, while £190.1 million came from the Premier League and all other competitions, up from £185.6 million.

Commercial revenue rose to £344.7 million, following the previous year’s figure of £341.4 million, while matchday income climbed to £75.6 million, up from £71.9 million, despite City playing five fewer home matches than in the previous season.

Player sales reach record £139 million

City’s finances were further boosted by record player trading profits of £139 million, up from £121.7 million. The club noted it has now made over £405 million in player sales over the last five years.

The player trading was key to achieving the overall profit for the year, with City making an operating loss of £60.5 million, which followed the previous year’s operating loss of £35.6 million. The club’s total wage bill was £412.6 million, down from £422.9 million in 2022/23.

Genoa take step towards new ownership with approval of €40 million capital increase

Genoa have taken a further step towards finding new owners within the next few weeks after a proposed capital increase of €40 million was approved at the Serie A club’s shareholders' meeting on Saturday.

The option is not available to current shareholders and must therefore be completed by an external party. The move follows the collapse of majority shareholder 777 Partners' multi-club ownership portfolio earlier this year.

As reported by Italian media, whichever party subscribes to the capital increase, which must be made by 15th January, will become the club’s new owners.

777 co-founders’ exit from Geona board confirmed

The approval of the capital increase also confirmed the departure from the Genoa board of directors of 777 co-founders Josh Wander and Steve Pasko and vice president Adam Weiss.

The board is now composed of CEO Andres Blazquez, president Alberto Zangrillo, general manager Flavio Ricciardella and non-executive director Alessandro Giudice.

Blazquez declined to answer reporters’ questions about who might carry out the capital increase, but did not rule out the possibility of it being completed by US insurance firm A-Cap, which is 777’s largest creditor and has taken over the management of the Miami-based group’s football clubs.

The Union of European Clubs (UEC), in a press release, has expressed "deep concern" over comments made by Nasser Al-Khelaifi, Chairman of the European Club Association (ECA), regarding domestic football competitions.

Al-Khelaifi's has in an interview with MARCA suggested that "20-team national leagues" contribute to increasing player workload, a stance the UEC views as an attempt to justify more international fixtures for elite clubs at the expense of domestic leagues.

According to the UEC, this narrative echoes the ambitions of Al-Khelaifi's predecessor, Andrea Agnelli, who advocated for shrinking domestic leagues to accommodate more international club matches, leading to the SuperLeague project. Despite Al-Khelaifi's opposition to the SuperLeague, his recent statements imply a continuation of similar objectives.

Strength lies in national leagues

The UEC believes that the strength of European football lies in its national leagues and warns that prioritizing elite clubs' interests could exacerbate financial disparities and harm sporting merit.

The organisation challenges the notion that international tournaments are essential for football's global growth, pointing out that domestic leagues already significantly contribute to the sport's popularity.

The UEC invites Al-Khelaifi to reconsider his remarks and urges stakeholders to defend the significance of domestic competitions to maintain European football's integrity and accessibility.

Berlusconi family seeking buyer for AC Monza

The Berlusconi family, under the banner of their holding company Fininvest, is actively seeking a partner or buyer for the Italian football club AC Monza.

Pier Silvio Berlusconi, a shareholder and board member of Fininvest, disclosed this intention during a press briefing, as reported by Reuters. The family has owned the club since 2018, when they acquired it while it was in Italy's third-tier league for a reported sum of €3 million.

According to Pier Silvio Berlusconi, the objective is to find someone who can manage AC Monza with the same level of care and commitment that the family would provide, acknowledging that "soccer is a crazy world nowadays." This search for new ownership or partnership comes after rumors intensified following the death of former Italian Prime Minister Silvio Berlusconi in June 2023.

Significant increase in revenue

AC Monza, guided by former AC Milan executive Adriano Galliani, achieved promotion to Serie A for the first time in 2022. However, the team is currently facing challenges in the top flight, sitting at 19th place in the league standings.

Despite these struggles on the pitch, AC Monza's revenues have seen a significant increase, more than doubling to €68.3 million in 2023, although the club also reported a loss of €60.3 million for the same year.

UNFP criticises LFP's decision on Mbappé's financial dispute with PSG

The National Union of Professional Footballers (UNFP), the representative body for football players in France, has strongly criticized the decision by the LFP disciplinary committee regarding Kylian Mbappé's financial dispute with Paris Saint-Germain (PSG).

The LFP deemed Mbappé's request for payment "inadmissible" on Wednesday, a stance that the UNFP finds unacceptable and is urging the League to uphold its regulations.

According to the UNFP, the main issue at hand is the enforcement of the LFP's own rules and the decisions made by its commissions.

Claims €55 million

The dispute began when Mbappé approached the LFP legal committee in September, claiming PSG owed him nearly €55 million in salaries and bonuses after his contract ended. The committee ruled in favor of Mbappé, a decision that was later upheld by the LFP's joint appeal committee on October 25. Despite these rulings, PSG refused to pay and subsequently took the matter to court in Paris.

The situation escalated when the LFP's disciplinary committee met with both parties and declared Mbappé's referral to obtain his due as "inadmissible." The UNFP has expressed its readiness to collaborate with the LFP to combat what it perceives as a concerted effort by clubs to limit the League's regulatory authority as much as possible.

FIFA has confirmed that the 2034 World Cup will be held in Saudi Arabia, while the 2030 World Cup will be co-hosted by Spain, Portugal and Morocco, with the opening three matches in South America.

Both bids were uncontested and ratified at an online FIFA Congress yesterday. Saudi Arabia emerged last year as the sole bidder for the 2034 World Cup in a controversial process.

FIFA combined the decisions on the 2030 and 2034 tournaments into a single vote, meaning delegates either supported or opposed both bids, with no separate vote available.

Six countries in three continents

FIFA Congress also ratified the centenary 2030 World Cup, which will be held across six countries in three continents, with the opening three games taking place in Argentina, Paraguay and Uruguay.

The decision to award Saudi Arabia hosting rights in 2034 is highly controversial, with critics arguing it is an effort to 'sportswash' the authoritarian regime's reputation as it hosts the tournament for the first time.

Manchester City and Chelsea set for £60 million boost from Club World Cup TV deal

Manchester City and Chelsea are in line to net summer windfalls of up to £60 million following FIFA’s signing of a $1 billion Club World Cup TV deal with DAZN, according to a report from The Daily Mail.

FIFA announced the global free-to-air broadcast deal with the UK-based streaming platform last week ahead of the draw for the 2025 Club World Cup.

It is understood that while no final decision has been made, both City and Chelsea have been told to expect between £50 million and £60 million from their participation in the tournament, which is due to take place in the US next summer.

Larger share

It is expected the major European clubs will be handed a larger share from the pot than other clubs in the competition, which some believe is a move aimed at ensuring they treat it seriously and play most of their big names amid concerns over player burnout.

In total, 12 European sides will feature, including Bayern Munich, Paris Saint-Germain and Juventus.

Sheffield United takeover: Prince Abdullah puts sale on hold as club eyes promotion

Sheffield United owner Prince Abdullah has reportedly put the sale of the EFL Championship club to an American consortium on hold in the hope of cashing in if they are promoted to the Premier League this season.

Abdullah agreed a £105 million sale to US investors Steven Rosen and Helmy Eltoukhy last summer after relegation, and the English Football League approved the proposed takeover last week.

However, according to The Guardian, Abdullah is refusing to complete the sale, with sources close to the deal saying the Saudi Arabian businessman is anticipating a huge windfall in the event of promotion. EFL sources indicated they are aware of the delay.

Bonus payments

United have been in the automatic promotion places in the EFL Championship for much of this season and promotion would significantly increase the club’s value, with Brentford on the market for £400 million, for example.

The existing takeover deal contains clauses providing bonus payments for Abdullah if United are promoted after completion. He is now said to be seeking to negotiate bigger bonuses and some sources have suggested he may not sanction the deal while promotion remains a possibility.

LaLiga wins €47 million media rights case against China’s Super Sports Media

LaLiga has won a long-running legal battle against Chinese sports marketing company Super Sports Media over missed media rights payments in the post-pandemic period, Spanish media have reported.

The complaint relates specifically to the 2021/22 season, when the firm failed to make an agreed payment of €45 million for the rights to show matches in China, prompting LaLiga to file lawsuits in both China and Spain in 2022.

Super Sports Media and its partner Wuhan Dangdai Science & Technology Industries Group are now due to pay €47 million to the Spanish league for the missed payments and around €2 million in interest and other costs.

Unlikely to receive full amount

Sources have told SportBusiness that LaLiga is highly unlikely to receive the full amount, although the ruling from the Wuhan Intermediate Court, delivered in May but only now made public, could serve as an important precedent to deter missed payments to rights-holders in the future.

LaLiga’s deal with Super Sports Media had been one of its most valuable overseas rights agreements. It was initially due to run from 2019/20 to 2024/25, but was renegotiated in 2020 and extended until 2028/29.

KMSK Deinze declared bankrupt amid failed takeover and spiralling debts

Deinze have been officially declared bankrupt following a disastrous takeover last month which led to the Belgian second division club being unable to pay players or staff amid spiralling debts.

As reported by Belgian media, the club’s bankruptcy was confirmed by the Ghent Enterprise Court yesterday and comes after the Luxembourg-based AAD Invest Group acquired ownership of the team at the beginning of November.

New owner and investor Doudou Cissé vowed to take on the debts of the previous owner – Singapore-based group ACA Football Partners (ACAFP) – but failed to produce the required funds, while also proving unable to pay players or other staff despite repeated promises.

Two-point deduction

As a result, Deinze were handed a transfer ban and two-point deduction imposed by the Belgian FA’s license committee, while players went on strike and moved to other clubs, and unpaid suppliers and creditors went to court.

Two weeks ago, Deinze could not demonstrate they had the means to pay off their debts, and while it was expected Cissé would relinquish his shares, this did not happen, leading to yesterday’s court verdict.

UEFA rejected legal advice that it had grounds to appeal after Manchester City were cleared of financial rule breaches by the Court of Arbitration for Sport (CAS) four years ago, it has emerged.

According to The Independent, external lawyers proposed an appeal to the Swiss courts as UEFA’s best response to City's victory at CAS in July 2020, which got their Champions League ban lifted.

The revelation that UEFA was advised there were grounds to appeal may give encouragement to the Premier League, which is prosecuting City for 130 alleged rule breaches based on similar evidence in a hearing that concluded last week. City have denied any wrong doing.

"Serious breach" of regulations

CAS overturned a two-year Champions League ban for City imposed by UEFA for a "serious breach" of its regulations. The legal opinion advising that an appeal was possible was sent to UEFA in August 2020 outlining its possible options following the CAS judgement.

The CAS verdict had been delivered in July 2020 following City's appeal against the punishment imposed by UEFA’s Club Financial Control Body (CFCB) five months earlier.

FIFA considering US as hosts for 2029 Club World Cup

The Club World Cup could be hosted by the United States for a second consecutive time as FIFA considers taking the tournament back there in 2029, according to a report from The Athletic.

The US will host the inaugural edition of the expanded 32-team Club World Cup next summer, before hosting the men’s FIFA World Cup in 2026. The decision to award the US with the 2029 Club World Cup would have to go through the FIFA Council and that is yet to happen.

Last week, FIFA announced a global $1billion free-to-air broadcast deal with DAZN for the 2025 Club World Cup and then conducted the draw for the tournament at an event in Miami.

American sponsors

Part of the thinking behind taking the Club World Cup back to the US in 2029 is that it would enable FIFA to consolidate American sponsors for the tournament, as well as having a legacy event following the 2026 men’s World Cup.

However, the US will likely face competition from other countries to host the 2029 Club World Cup. Football Australia CEO James Johnson told the Sydney Morning Herald back in June 2023 that he would consider bidding for the tournament’s hosting rights.

Cardinale looks to continue AC Milan ownership and refinance Elliott debt

AC Milan owner Gerry Cardinale plans to keep hold of the club for the foreseeable future and is working to refinance the debt owed to previous owner Elliott Management, La Gazzetta dello Sport has reported.

When Cardinale took over the club from Elliott back in August 2022 through his firm RedBird Capital Partners, only €650 million of the €1.2 billion agreed for was paid, and the rest was financed via a vendor loan.

It means that Cardinale must still pay €550 million to Elliott plus the interest owed, taking the amount to be repaid to €693 million, which is due to be settled through a bullet payment by August 2025.

Efforts to postpone deadline to 2028

Elliott would regain control of the club if the debt with RedBird isn’t repaid. However, efforts are said to be underway to postpone the deadline to 2028, along with discussions over the interest rate.

Cardinale is also thought to be looking for investors who could join him and contribute to settling the sum, rather than to acquire Milan or a large share of the club.

Lazio ready to present new stadium plans to Rome city officials

Lazio are looking to progress their long-awaited plans for a new stadium, with the club’s president Claudio Lotito set to request a meeting with the Municipality of Rome to formally present the project, according to a report from Il Corriere dello Sport.

The Serie A club are eager to have their own ground, rather than continue to share the Stadio Olimpico with arch-rivals AS Roma, and have identified the currently defunct Stadio Flaminio as the best option on the table.

It is understood the technicians appointed by Lotito have now completed the pre-feasibility project to be presented to the Municipality, and a formal meeting with city officials could take place this week.

Boost to finances

Lazio believe owning a stadium will be instrumental to boosting their finances, following in the footsteps of the likes of Juventus, Udinese and Atalanta. The Stadio Flaminio project is also said to have an “architectural and organisational value”.

Following the preparatory work done in recent months, Lazio have already made it known to the Municipality they are ready to outline the plans, and are looking to arrange a meeting with the mayor of Rome Roberto Gualtieri and councillor for Sport Alessandro Onorato.