Norwich City joint majority shareholder Mark Attanasio has reached an agreement to gain control of the EFL Championship club by increasing the stake held by his group Norfolk FB Holdings to around 85 per cent.

In a statement, the club said that under the agreement longtime owners Delia Smith and husband Michael Wynn Jones will cut their shareholding in the club to 10 per cent and step down as directors next year.

Attanasio, who owns the MLB team Milwaukee Brewers, first invested in Norwich in 2022, and in April his firm increased the size of its stake in the team from 21.5 per cent to 40.4 per cent, giving him parity with Smith and Wynn Jones.

Honorary life presidents

The deal is subject to board and shareholder approval and if agreed will go through on 1st March, 2025. It does not involve payment to Smith and Wynn Jones, who first joined the club’s board in 1996 and will become honorary life presidents of the club.

Norwich said: “Delia and Michael have always been clear that they would act in the best interests of the club when passing on stewardship of it. By structuring the agreement in this way the parties have secured the long-term financial security of the club.”

MK Dons takeover completed by Kuwait-based group

MK Dons have confirmed that the takeover of the club by a Kuwait-based consortium has been completed, ending chairman Pete Winkelman's 21-year spell as owner.

In a statement, the League Two club said: “The deal, which leaves the club and stadium group debt-free, has now been ratified by all parties following clearance from the EFL.”

The new ownership group is led by the Kuwaiti businessman Fahad Al Ghanim, who has worked in banking, investment, automotive and real estate and whose family are the owners of Kuwaiti Premier League club Kuwait SC.

Controversial move

Winkelman oversaw Wimbledon FC’s controversial move from London to Milton Keynes and renaming of the club to MK Dons in 2004. Under his ownership, the team were promoted up to the EFL Championship before an eventual return to League Two.

The club statement added: “Winkelman’s decision has not been taken lightly and is led by a desire to see MK Dons compete at the very highest level of English football, while also ensuring both the football and stadium assets remain together.”

Venezia FC unveil Nocta as new kit sponsor as Drake investment confirmed

Venezia FC have announced that Nocta, the luxury clothing brand created by Nike and Canadian rapper Drake, has become the newly promoted Serie A club’s new kit supplier.

The deal, which ends a three-year partnership with Kappa, comes after it emerged that Drake helped raise financing that secured the club’s future.

On 1st July, Venezia announced an injection of capital from existing and new investors, including the sports investment firm APEX, Swiss-based asset manager Chiron Sports Group, and Elliott Hill, a former senior executive at Nike.

Commercial strategy

A statement from APEX yesterday confirmed that Drake is also part of the group of new investors, adding that the singer’s agency DrewCrew “will be closely involved in the club’s commercial, e-commerce and merchandise strategy, assuring a crossover between culture and sports.”

Venezia FC brand manager Fabrizia Monteleone said: “One of Venezia FC’s goals is to harness the global popularity of football and to bring international attention to one of the world’s most culturally significant cities.”

Corinthians ex-director warns organised crime threatens club

Former Corinthians director Rubens Gomes has said that organised crime poses a significant danger to the club after police interviewed him over the collapse of the Brazilian side’s partnership with the betting firm Vaidebet.

Gomes told Globo: “He [the delegate] asked questions about VaideBet, if there was an intermediary. I said no, confirmed by [Alex] Cassundé that there was no intermediary. VaideBet, Augusto [Melo – club president], Sérgio Moura and Marcelinho are still in the spotlight.”

He added: “My biggest concern is organised crime taking hold at Corinthians. Corinthians is a family club and we need to be careful about that. An institution is above all, above any vanity. If the Board doesn’t remove Augusto, justice will remove him.”

Alleged corruption by third party

VaideBet terminated its contract with Corinthians in June, just six months after the sponsorship deal was agreed, amid a police investigation into alleged corruption by a third party.

The agreement, which was a record for Brazilian football at the time, was reported to be worth R$370 million (US$69.1 million) over three years. It was alleged that a third-party organisation, linked to an intermediary between both the club and company, had illegally profited from the contract.

The American businessman John Textor, whose multi-club portfolio includes Ligue 1 side Lyon, has made a new bid to acquire Everton, according to a report from The Guardian.

The terms are believed to be the same as when Textor made an offer on 1st June in the previous round of bidding. The fresh bid comes after Dan Friedkin, the US billionaire owner of AS Roma, withdrew from a takeover deal last month after carrying out due diligence.

One complication for Textor’s offer is that he owns 45 per cent of Crystal Palace and would be required to sell those shares to buy Everton, although he is confident his stake in the South London club is much sought after.

Talks with Premier League club

Textor, who paid £87.5 million for a 40 per cent stake in Palace in 2021 before extending it to around 45 per cent when he bought Lyon a year later, is understood to have held talks with another Premier League club and one in the EFL Championship over a potential takeover in recent weeks.

The American is thought to be keen to make a profit on his Palace investment. It is understood that could rule out his compatriots Josh Harris and David Blitzer, who own 18 per cent stakes in Palace but are believed to have offered Textor the amount he paid for his shares.

Bayern Munich chief Uli Hoeness joins calls for action against FIFA and UEFA over calendar

Bayern Munich honorary president Uli Hoeness has added to the pressure on FIFA and UEFA over concerns about fixture congestion and its impact on player welfare after saying the German giants and other clubs must act soon to stop more competitions being added to the calendar.

Speaking to reporters at a promotional event, Hoeness said: "Enough is enough. This cannot continue like this. We have to stop the accumulation of competitions. Big clubs like Real Madrid think the same as us, they have the same concerns.

“At some point, we have to set limits. What some FIFA and UEFA officials are planning is madness. Interest in football will decrease if you have matches every three days."

Legal action

Last month, the European Leagues and global players' union FIFPro announced that they are launching legal action against FIFA over what they allege is abuse of a dominant position in relation to the international calendar.

FIFA responded strongly to the move, accusing some leagues of "hypocrisy" by sending their players on global pre-season tours. The global governing body has also denied failing to consult over recent changes to the calendar, such as the introduction of a 32-team Club World Cup.

Serie A clubs reduced their combined losses to €864 million in the 2022/23 financial year, down 37 per cent from €1.4 billion in 2021/22, according to the latest financial report from the Italian Football Federation (FIGC).

The aggregate deficit was eased thanks to record total revenues of €3.5 billion, up 16 per cent on the €3 billion earned the previous year. The 2022/23 figure beat the previous highest amount of €3.4 billion generated in 2018/19.

The report highlighted the impact of the Covid-19 pandemic, with the combined losses of Italian top-flight teams amounting to €4.5 billion in the four-year period from 2019/20 to 2022/23. The total losses were €881 million in 2019/20 and almost €1.4 billion in 2020/21.

Cumulative losses of €8.5 billion in last 16 years

The analysis showed that in the 16 years from 2007/08 to 2022/23 cumulative losses reached around €8.5 billion. Clubs’ aggregate revenues grew by almost €2 billion, but costs rose to a greater extent, increasing by €2.4 billion.

The study also noted that clubs’ combined debts doubled over the same period, growing from €2.4 billion in 2007/08 to €4.8 billion in 2022/23.

Serie B relaunch domestic broadcast rights offering amid blackout fears

With just over a week to go until the start of the new season, Serie B has re-launched its domestic broadcast rights invitation to tender (ITT) amid growing fears of a blackout.

As reported by Italian media, the unprecedented move comes after the rights offering for the next three-year cycle was revamped in June, with a new sales strategy based on product rather than broadcast platform.

With the same approach, the reserve price per broadcaster has now been lowered to €13 million per season. In a statement, the league said the new ITT reflects the “numerous discussions held in recent weeks and the observations expressed by broadcasters”.

Amazon possible international partner

Serie B added that it has decided to “start a project to be structured together with an important international partner”, named by La Gazzetta dello Sport as Amazon Prime. It is understood the platform could acquire the rights at no initial cost but provide the league with a percentage of revenue from each user per game.

Serie B also indicated it was considering a possible launch of its own TV channel if it fails to conclude any rights deals. The league said it is assessing the “opportunity to start a modern and innovative path to asserts its audiovisual products”.

FC Barcelona are reportedly set to receive a cash injection worth €100 million after striking deals with club sponsors to cover the loss of income from the German investment fund Libero for a stake in the club’s digital unit Barça Visión.

Libero was due to make a payment of €40 million last October and another €60 million for its shares in Barça Visión but never came up with the money, leading to legal action from both parties.

According to Spanish media, €40 million will be covered immediately by the US company Aramark, as a substitute payment for the 9.8 per cent of shares in Barça Visión that Libero agreed to purchase, followed by a further €60 million in November.

Spotify and Nike back injection

Spotify – which sponsors Barcelona’s team shirts and holds the naming rights to the Camp Nou stadium – and Nike, the club’s kit sponsor, are also said to be behind the cash injection.

It is understood the development could provide the Catalan giants with a major boost as they look to comply with LaLiga’s spending rules and land top transfer targets this summer.

Red Bull to enter Asia with acquisition of J3 club Omiya Ardija

Red Bull has made a further addition to its multi-club ownership portfolio after striking an agreement to acquire the Japanese third division side Omiya Ardija.

The deal, which has been confirmed by the club in a statement, marks Red Bull’s first acquisition of a football team in Asia and will be the first time a foreign company has taken sole ownership of a Japanese club.

Red Bull – which already owns RB Salzburg, RB Leipzig, RB Bragantino, RB Brasil, and New York Red Bulls – have agreed to acquire all the shares in Omiya Ardija from telecoms operator Nippon Telegraph and Telephone East, with the share transfer scheduled for next month.

Team name

According to Japanese media reports, options are being discussed to reflect the new ownership in the team's name, such as RB Omiya Ardija or Omiya RB Ardija.

However, the club, which is based in Saitama prefecture, which borders Tokyo to the north, said Red Bull has committed to show "continuity and development" by respecting the team name and club colours.

Manchester United opt not to demolish Old Trafford even if new stadium is built

Manchester United will not demolish Old Trafford even if they go ahead with plans to build a new 100,000-capacity stadium adjacent to the current ground, according to a report from The Daily Telegraph.

It is understood that United’s home of 114 years would be preserved in a scaled-down form, with the capacity reduced from 74,000 to around 30,000 and used as a venue for women’s and academy team matches.

Repurposing Old Trafford would ensure United preserved a cornerstone of their history, and officials are said to be reluctant to bulldoze the ground as they are conscious of how emotive an issue it is for fans.

Fan experience

The Old Trafford regeneration task force initially concluded that a new build rather than redevelopment would be the best way to truly transform the fan experience and surrounding area.

A new stadium could cost more than £2 billion and take six years to complete. A final decision is not expected until December, following full consultation with supporters.

Monza attract new takeover interest from American group

Fresh speculation has emerged over a potential takeover of Monza, with Milano Finanza reporting that a group of American entrepreneurs are interested in acquiring a majority stake in the Serie A club.

According to the report, no official negotiations have yet taken place, but it is understood the Texas-based consortium have begun dialogue with current owner Fininvest and are assessing the prospect of a possible agreement.

News of the US group’s interest follows reports earlier this week suggesting that the Olympiakos and Nottingham Forest owner Evángelos Marinákis could also be eyeing a takeover following previous interest from the Greek businessman in a minority stake.

Orienta talks abandoned

Back in May, negotiations over a takeover of Monza by the Italy-based holding company Orienta Capital Partners were abandoned, reportedly due to significant differences over the structure of the agreement.

The final proposal was believed to be for Orienta to acquire 70 per cent of the club for €70 million, leaving the remaining 30 per cent to Fininvest – a holding company set up by the ex-AC Milan owner and former Italian prime minister Silvio Berlusconi, who died in June 2023.

The case involving FC Barcelona’s €7.3 million payments to a former refereeing official could be about to take a hugely significant turn after the Spanish Civil Guard concluded that the technical advice described by the club has never been discovered.

Barcelona have repeatedly claimed they paid an external consultant for “technical reports related to professional refereeing”, which they said was common practice among professional clubs.

However, El Mundo has reported that the Civil Guard believe no such written reports may ever have existed, referring to “phantom reports”, and fuelling speculation Barcelona may have acted secretly.

Payments made over 17 years

The case relates to payments made by Barcelona to the former vice-president of the Spanish FA’s refereeing committee, José María Enríquez Negreira, over 17 years.

According to El Mundo, the Civil Guard said they have also found €3 million in the accounts of Negreira’s wife, which they say cannot be accounted for. Barcelona have consistently denied any wrongdoing or conflict of interest over the payments.

Maresca urges Premier League to change financial rules to protect academy players’ futures

Chelsea head coach Enzo Maresca has called for a change in the Premier League’s financial rules as he believes clubs “feel compelled” to sell academy players to comply with PSR.

As reported by The Independent, the Italian manager, who joined Chelsea this summer, was speaking after the club agreed a deal to sell midfielder Conor Gallagher to Atletico Madrid for £33 million.

Gallagher is one of seven Chelsea academy graduates who have been sold in the last 12 months, with Mason Mount (£55 million), Lewis Hall (£28 million), Ruben Loftus-Cheek (£15 million) and Ian Maatsen (£35 million) among the others.

World-record transfer spend

It is widely expected that Gallagher will be followed by Armando Broja and Trevoh Chalobah as Chelsea look to balance their books. The West London club have spent a world-record sum of well over £1 billion in the past four transfer windows.

Maresca argued that a change is needed to help protect the futures of academy players. “All the clubs at this moment are compelled to sell players from the academy because of the rules,” he said. “It’s all of the Premier League clubs’ problems.”

EFL fine former Barnsley directors Paul Conway and Chien Lee

The English Football League (EFL) has fined former Barnsley directors Paul Conway and Chien Lee for failing to disclose full details of their proposed ownership structure of the club.

In a statement, the EFL said an independent disciplinary commission found that Conway and Lee “failed to properly disclose a private investment agreement they concluded shortly prior to their purchase of Barnsley in 2017. That agreement was not disclosed to the league until January 2022.”

Barnsley were charged with multiple breaches of EFL regulations last year in relation to the period they were under the ownership of Conway and Lee, who bought the South Yorkshire club in December 2017 and left in May 2022.

Warned over future conduct

Barnsley said at the time that the charges were "the result of an investigation initiated by the club" and the EFL said they had "co-operated throughout". Conway was fined £100,000 and Lee £75,000 and both were warned as to their future conduct.

The League One club accepted the charges and there will be no further action taken against them, other than contributing towards the EFL’s legal cost of the proceedings.

The Premier League is considering a fresh bid to close a loophole that lets clubs use one-off profits from the sale of hotels, training grounds or other tangible assets in their PSR submissions, according to a report from The Times.

An attempt to close the loophole, which has allowed Chelsea to sell two hotels to a related company, enabling them to comply with the league’s financial rules, was narrowly defeated at its AGM in June.

Eleven of the 20 clubs voted in favour, short of the two-thirds majority needed, and some clubs are said to have felt the wording of the proposal in June was too broad. It is understood there are now moves to push for a new vote.

With new financial rules coming in from the 2025/26 season, there is a feeling all the loopholes should be closed before they are introduced, and consideration is being given to a new proposal that could be put to clubs as early as next month.

Hotels sold for £76.5 million

Chelsea sold their two hotels to a sister company for £76.5 million. The sales took place on June 29th, 2023, but it is believed the deal has still to be signed off by the Premier League as being of “fair market value”. The league is also reviewing the takeover of Chelsea’s women’s team by the club’s parent company on 28th June this year.

Manchester United sponsor Snapdragon keen on Old Trafford naming rights

Manchester United’s new front-of-shirt sponsor, the US company Snapdragon, is interested in securing naming rights for Old Trafford should the club use that route to help fund a new stadium, The Athletic has reported.

United are understood to be working on plans for a new 100,000-seater Old Trafford on the same site as the current ground, but with the cost estimated to be at least £2 billion several options for raising finance are on the table.

One of those is naming rights and Snapdragon, which sealed a three-year shirt sponsorship deal with United worth £180 million last month, would like to expand its association with the club.

“Reimagining of Old Trafford”

Don McGuire, chief marketing officer of Qualcomm, which owns Snapdragon, said:
“We are working very closely with the team on the reimagining of Old Trafford from a technology and innovation standpoint, and Carrington [the club’s training ground].

“So if that leads to something bigger, where it would make sense for us to go even bigger … if it makes sense, we are always looking out for opportunities.”

McGuire was speaking at Snapdragon Stadium, home to San Diego State University’s American football team, where United faced Real Betis in a friendly last week.

Bayer Leverkusen look to cut ties with kit sponsor Castore over supply issues

Last season’s German double winners Bayer Leverkusen are looking to end their kit sponsorship deal with Castore early due to supply issues, as well as the prospect of striking a more lucrative deal elsewhere, according to a report from Kicker.

The British-based sportswear brand is said to be struggling with supplying the kits, which are in high demand following Leverkusen’s triumphs in the Bundesliga and German Cup.

Leverkusen jerseys, especially the away kit, have been out of stock in all or most sizes for several weeks, leaving many fans frustrated at being unable to get hold of a shirt as yet.

New Balance front-runner

As a result, Leverkusen have the option of terminating their contract with Castore after just two years, and it is expected the club will pursue a change of kit supplier, especially as they look to cash in on last season’s success.

New Balance and Adidas are understood to be in contention to take over from Castore, with New Balance the front-runner. The US company makes kits for Porto and Lille and previously had a long-term partnership with Liverpool.

Real Betis complete €42.9 million capital increase

Real Betis are set for a significant boost to their finances after completing the capital of increase of €42.9 million launched in May and approved by the club’s shareholders last summer.

In a statement, the LaLiga club said it has “successfully closed” the capital increase, and did so “with the incorporation into the shareholding of the 766 partners who requested it and formalized the required procedures within the established period.”

The statement added: “These 766 Betis shareholders join the 582 new shareholders who were finally able to subscribe shares in the first round by having assignments of preferential subscription rights from other shareholders.”

1,348 new members

In total, the club's new minority shareholders have subscribed 2,590 new shares and 1,348 new members have been admitted. The fourth round ended on 31st July with the subscription, by 172 shareholders, of 1,824 shares out of the 5,434 offered (33.56 per cent).

Betis previously said the two principal aims of the capital increase were to balance the club’s equity, following cumulative losses of €81.2 million in three years during the pandemic, and to "face the new challenges" of the 2022-2026 strategic plan “with guarantees”.

Tottenham Hotspur have been granted permission to hold up to 30 non-football events at their stadium per calendar year, having previously been restricted to 16 such events each year.

In a statement, the club confirmed that the cap was lifted to 30 following a meeting of Haringey Council’s planning committee last Thursday. The Tottenham Hotspur Stadium has hosted music concerts, as well as NFL, boxing and rugby matches.

Under the new rules, subject to a S106 agreement, Tottenham can almost double the number of these events, while the restriction on the number of concerts has also been lifted.

Cap on boxing events

However, as reported by The Athletic, there will be a cap on the number of boxing events per year (two), the number of consecutive events in a row (four) and the number of events in any week (five).

In addition, there can only be two weeks every year when there are either four consecutive events or five events in any week.

LFP confirms agreements with DAZN and beIN Sports for Ligue 1 media rights

The LFP has confirmed it has struck deals with DAZN and beIN Sports for the Ligue 1 domestic broadcast rights for the next five-year cycle, beginning with the 2024/25 season that starts on 16th August.

DAZN has secured all 306 Ligue 1 matches each season, with eight to be broadcast live and exclusively on the platform each matchday and the other shown live and exclusively by beIN and aired on a delayed basis by DAZN.

DAZN will also broadcast the Trophée des Champions and play-off games, while beIN’s deal also includes Ligue 2, international rights and the men’s and women’s French Cup.

€50 million bonus payment

The LFP did not give details of the total value of the deals, which have been reported to be worth a combined €500 million per year, with DAZN understood to be paying around €400 million and beIN Sports €100 million.

However, the LFP did confirm it has agreed “flexible exit clauses” with DAZN and that an automatic bonus payment of €50 million will be triggered if the UK streaming service achieves the 1.5 million subscriber threshold to its platform within the partnership’s first season.

Stoke City chairman John Coates becomes club’s owner after bet365 demerger

Stoke City have announced that chairman John Coates has become the "outright" owner of the EFL Championship club following a demerger implemented by bet365.

In a statement, the club said all debts have been cleared as part of the transaction, with the Clayton Wood training ground and bet365 Stadium now owned directly by the club.

The Coates family, initially through John's father Peter, first became majority shareholders in the 1980s and did so again in 2006 when their bet365 group bought the club back from an Icelandic consortium.

“Structural change”

The club confirmed that Stoke City Holdings Limited, which holds a 98.1 per cent stake in the club and owns Stoke City (Property) Limited in its entirety, has now “been demerged from bet365” in what it described as a "structural change.”

John Coates said future investment and development plans are unaffected by the change. “My family and I remain steadfast in our commitment to Stoke City, so it’s very much business as usual,” he said.

Gary Neville acquires Peter Lim's Salford City stake

Salford City have announced that Gary Neville has bought fellow co-owner Peter Lim's stake in the League Two club to "pave the way for a new strategic partner.”

Neville, along with Manchester United 'Class of 92' team-mates his brother Phil, Nicky Butt, Ryan Giggs, Paul Scholes and David Beckham, bought the club in 2014 alongside Lim.

Singapore-based billionaire Lim – who has also been the owner of Valencia CF since 2014 – took a 50 per cent shareholding in Salford upon the takeover of the club, who were in the eighth tier of English football at the time.

“Unique ownership”

In a club statement, CEO Nicky Butt said: “Peter’s support has allowed us to become an established League Two club with a unique ownership.”

He added: “We continue to explore options to potentially work with additional new strategic partners to assist us in achieving our ambitions for the club.”

West Brom transfers to be restricted by EFL business plan amid financial concerns

The EFL have placed West Bromwich Albion under a business plan limiting their transfer activity in the current window amid concerns they are on course to breach the league's financial rules, Sky Sports News has reported.

There is not thought to be an issue with the financial health of the Championship club, or any danger of them being unable to pay their bills. The threat is instead centred around whether the club can stay within the league’s financial guidelines.

The issues are said to be linked to the club's previous owners. Bilkul Football WBA – a company owned by Florida-based entrepreneur Shilen Patel and his father Kiran Patel – acquired an 87.8 per cent shareholding in Albion in February, and are working through the issues directly with the EFL to ensure they comply with the rules.

Player wage and trading issues

It is understood Albion officials have been working closely with the EFL for the past 18 months on all player wage and trading issues, to try to make sure they are compliant with the rules.

Under those rules, any club at risk of breaching PSR limits is given strict new guidelines to work within, with any new transfers needing to be cleared by EFL officials in advance. The only fee West Brom have paid for a player so far this summer is the £500,000 for Norwegian central defender Torbjorn Heggem.

Billy Hogan, the Liverpool CEO, has called for the Premier League to remain strong in enforcing its financial rules despite criticism from a number of clubs.

In comments reported by The Independent, Hogan said: “I think it is important that the rules have teeth and if clubs fall foul of that then the Premier League has a process to go through. We are supportive of those rules and being sustainable.”

Everton and Nottingham Forest both suffered points deductions last season due to breaches of the profitability and sustainability rules (PSR), and in the 2024/25 season a spending cap and an anchor to the least affluent side in the top-flight will be trialled.

“Run sustainably”

The Liverpool CEO added: “We think that clubs should be run sustainably, not losing money. We are supportive of the new financial regulations and we’re working through those.

“The new system means changing from PSR to the squad-cost rule. That will come into play after this season. We have the most competitive and global league, and it’s important we keep it that way.”

Atlético de Madrid raise €69.7 million from capital increase as Quantum joins in

Atlético de Madrid have raised €69.7 million of new funds after the capital increase launched by the club on 25th June attracted the support of 98.5 per cent of its shareholders.

Ares Management, Miguel Ángel Gil Marín and Enrique Cerezo had already announced they would cover their share of €49.8 million, to which an additional €19.7 million has now been added by Quantum Pacific Group.

The company of Israeli origin had not publicly communicated its position, but has finally resorted to the capital increase to maintain its 27.81 per cent stake. Atlético HoldCo, the investment vehicle that brings together the other three reference shareholders, owns 70.39 per cent of the club’s shares.

Minority shareholders

The Atlético board described the operation as a "resounding success" and thanked the shareholders for their participation. In total, 372,694 shares have been placed, although very few have been acquired by the minority shareholders who are still shareholders.

The figures raise the valuation of the total shares by €991.1 million. However, according to the latest edition of LaLiga Stock Market prepared by 2Playbook, the valuation of the club itself is much higher and now stands at €1.7 billion, with a year-on-year revaluation of 38.4 per cent.

Mbappé completes deal to become majority owner of Caen

Caen have confirmed that Kylian Mbappé has completed his takeover of the Ligue 2 club after the 25-year-old France captain’s company, Interconnected Ventures, acquired a majority stake in the team through its investment arm, Coalition Capital.

The deal is reportedly worth between €15 million and €20 million, with Real Madrid’s new star forward investing his own money via the investment fund. Coalition Capital replaces previous majority shareholder, the US firm Oaktree Capital, who first invested in the Normandy-based side in 2020.

Caen, who were relegated from Ligue 1 in 2019 and finished 6th in Ligue 2 last season, said in a statement: "This transaction marks a significant step in the club's strategic development and reinforces its natural ambition to remain among the historic places in French football."

“Strategic resources”

The club added: “This acquisition will allow Stade Malherbe Caen to benefit from additional strategic resources to strengthen its sports policy, modernize its infrastructure and develop innovative projects.”

Pierre-Antoine Capton, president of Caen’s supervisory board, will remain a minority shareholder. "It is an incredible opportunity for Stade Malherbe Caen to be able to count on Coalition Capital for its development,” he said.

Top leagues and broadcasters demand more action from X over piracy

Some of Europe’s top football leagues and key broadcasters have sent a letter to the CEO of social media platform X, Linda Yaccarino, demanding more action against the distribution of illegal content.

The letter, which has been seen by The Associated Press, had 14 signatories, including the Premier League, LaLiga, Bundesliga and Serie A, as well as DAZN, Sky, beIN Sports, DirecTV and Movistar Plus+. UEFA and CONMEBOL also signed the letter.

The signatories said they wanted “to draw X’s immediate attention to its persistent failings in the fight against the availability of unlawful content on its platform and urgently call for a meeting with X’s representatives to address this unacceptable situation.”

Content moderation resources

The letter claimed that X “lacks many of the features which other responsible social media operators deploy to combat piracy” and complained that the platform recently decreased its content moderation resources by 20%.

The signatories added that there is “an increased perception among pirates that they can do as they wish on X with impunity,” resulting in an increased number of illegal live streams of games, “making the overall situation absolutely untenable.”

Manchester United will reportedly aim to build a 100,000-seater stadium should the club press ahead with plans to move to a new Old Trafford.

Co-owner Sir Jim Ratcliffe’s preference is for a stadium built from scratch, rather than renovation, and according to The Athletic the six-figure capacity is seen as a realistic number designed to future-proof the ground given high demand for tickets.

A new stadium could cost more than £2 billion and take six years to complete. It is understood that United will not make a final decision until the end of the year following full consultation with supporters.

Stadium task force

As reported by The Daily Telegraph, the prospect of United redeveloping their existing Old Trafford ground is not off the table.

However, the club’s stadium task force, which has met four times since it was set up in March, has made an initial conclusion that a new build on the land around the current stadium would be the best way to truly transform the fan experience and surrounding community.

Tottenham Hotspur seek £3.75 billion valuation in minority stake sale

Tottenham Hotspur are in talks to sell a minority stake in a deal that could value the club at up to £3.75 billion, according to a report from The Times.

While the terms of any deal have not been finalised, sources expect Spurs to sell about 10 per cent in a move that could pave the way for Joe Lewis and his family to sever ties with the club.

Tottenham chairman Daniel Levy is said to be seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. The club is being advised by bankers from Rothschild on the sale.

Player signings

Spurs are looking to raise fresh capital for new player signings and to help fund the development of an academy for their women’s team, as well as a 30-storey hotel next to their stadium.

The former Newcastle United director Amanda Staveley, whose PCP Capital Partners fund has raised around £500 million for football club deals, is understood to be among the parties to have expressed an interest in Tottenham.

Lyon post record revenues of €368.3 million for 2023/24

Olympique Lyonnais have announced record revenues of €368.3 million for the year ending 30th June 2024, up 27 per cent from €289.7 million the previous year.

Excluding player sales, income reached €263.6 million, up 32 per cent on the €199.1 million earned in 2022/23.

Lyon said it received a fee of €26.9 million from the sale of a 50-year licensing of their OL Feminin women’s team to Michelle Kang, owner of NWSL side Washington Spirit, in a deal completed in February.

Stadium events

The Ligue 1 club also reported a surge in income from stadium events from €8.8 million to €37 million. The club’s stadium hosted five games at the 2023 Rugby World Cup, as well as men’s and women’s international football matches and pop concerts.

Media rights revenue also rose, from €85.3 million to €95.3 million, as Lyon received €50 million as the third and final payment from CVC Capital Partners’ investment in the LFP’s commercial business.

Mbappé set to acquire majority ownership of Caen for €20 million

Kylian Mbappé has agreed a deal to acquire a majority stake in Ligue 2 club Stade Malherbe Caen, according to a report from Le Parisien.

The 25-year-old France captain is said to have paid €20 million to take majority control of the Normandy-based side, and is set to become owner of the club alongside Pierre-Antoine Capton, president of the club’s supervisory board.

Real Madrid’s new star forward will become one of the youngest owners of a professional club in European football as he takes financial control of a side that finished 6th in Ligue 2 last season.

Avoid excesses

According to Le Parisien, Mbappé intends to take his first steps as a club owner “with moderation”, aiming to preserve the DNA of Caen, proceed step by step, and avoid the excesses often associated with high-profile new owners.

Ziad Hammoud, former director of strategy and investments at BeIN Media Group and now CEO of Mbappé’s image company, is set to become the club’s president.

Bordeaux apply for bankruptcy after failed takeover talks with FSG

Bordeaux have filed for bankruptcy following their relegation to the third tier of French football after Liverpool owner Fenway Sports Group (FSG) withdrew from takeover talks.

In a statement released late last week, Bordeaux said the city’s Commercial Court “will very soon pronounce the opening of insolvency proceedings which will automatically lead to the loss of the club's professional status.”

The statement added: “It is a difficult decision that anticipates an inevitable consequence of the ongoing restructuring process. Although the training centre will close as a result, the club will continue to promote youth teams.”

“Effort to be transparent”

The statement continued: “The effort to be transparent with the French football authorities about what the real situation of the club will be in the coming days and weeks should make it possible to limit the sporting consequences of this situation.”

Bordeaux said they are therefore still aiming to play in the National 1 Championship next season, “to allow, as soon as possible, the return of the club, with healthy finances and renewed ambition, at the highest level.”

Newcastle United’s value soars to £1 billion after sale of Staveley’s stake

Newcastle United are now valued at over £1 billion after Saudi Arabia’s Public Investment Fund (PIF) increased its shareholding in the club by buying former co-owner Amanda Staveley’s stake, Bloomberg has reported.

It is understood that Staveley’s six per cent stake in the club should fetch about £60 million. Sources familiar with the situation said her original 10 per cent stake was diluted as a result of PIF’s equity injections.

The sources added that PIF has invested a further £260 million since the takeover back in October 2021, when it acquired an 80 per cent stake in the club for around £305 million.

The other 20 per cent was originally split between London-based property developers Reuben Brothers and Staveley and her husband Mehrdad Ghodoussi.

Bankruptcy claim

Staveley is now reported to be eyeing investments in other clubs, including Tottenham Hotspur. She has also been battling a bankruptcy claim from Greek shipping tycoon Victor Restis, who this year won a £3.4 million UK legal case over a 2008 investment. Staveley is appealing the ruling.

Real Madrid have claimed that they are the first football club to exceed €1 billion in annual revenue after reporting operating income, excluding player transfers, of €1.073 billion for the year ending 30th June 2024.

The figure marks a 27 per cent increase on the €843 million earned in 2022/23. Madrid said all revenue streams grew on the previous year apart from broadcast income, which declined due to a fall in the amount received from LaLiga.

The Spanish giants added that “the gains in marketing and the stadium are particularly notable”, pointing to the new sleeve sponsorship deal with HP – reported to be worth €70 million per year – as a key driver.

Profit rises to €15.6 million

Real Madrid recorded a profit of €15.6 million for the 2023/24 financial year, up from the surplus of €11.8 million achieved in 2022/23, and said the increase in revenues came despite ongoing renovations to the Santiago Bernabeu Stadium.

The final phase of the stadium revamp, including the completion of the VIP area and events spaces, is due to be finished next season, with the total investment in the project standing at €1.163 billion at the end of June 2024.

European Leagues and FIFPro sue FIFA over 'abuse of dominance'

The European Leagues and global players' union FIFPro are launching legal action against FIFA over what they allege is abuse of a dominant position in relation to the international calendar.

The European Leagues, which represents 39 leagues and 1,130 clubs in 33 countries – including the Premier League, Serie A and Bundesliga – said they are filing a complaint to the European Commission to protect the welfare of players.

LaLiga is not a member of the European Leagues but is joining the action. It comes following growing pressure from leagues and player unions over the number of games added to the calendar and the impact on players.

In a joint statement, European Leagues and FIFPro said “FIFA’s conduct infringes EU competition law and … constitutes an abuse of dominance”, adding that the international calendar is "now beyond saturation", "unsustainable for national leagues" and a "risk for the health of players".

32-team Club World Cup

FIFA has been accused of a failure to consult over recent changes to the calendar, such as the introduction of a 32-team Club World Cup. However, the global governing body has responded strongly to the legal action, accusing some leagues of "hypocrisy" by sending their players on global pre-season tours.

A FIFA spokesperson said: "The current calendar was unanimously approved by the FIFA Council, which is composed of representatives from all continents, including Europe, following a comprehensive and inclusive consultation, which included FIFPro and league bodies.”

Bordeaux accept relegation after Liverpool owner FSG withdraws from takeover talks

Bordeaux have confirmed that they will no longer be appealing the decision of French football’s financial watchdog the DNCG to relegate the club to the third tier after Liverpool owner Fenway Sports Group (FSG) withdrew from takeover talks.

In a statement released on Tuesday, Bordeaux said: “While discussions had resumed in recent days, FSG's representatives indicated yesterday … their desire not to follow up despite the assurances provided by various stakeholders.

“Therefore, in the absence of new elements, FC Girondins de Bordeaux withdrew the appeal against the DNCG's decision of July 9, 2024.” The club added that it “accepts the sanction of administrative demotion to the National 1 Championship for the 2024/2025 season.”

Renouncing professional status

According to French regional newspaperSud Ouest, Bordeaux have also informed the FFF that they are renouncing their professional status, despite the third division being made up of professional as well as amateur teams. It is understood that all the club’s professional contracts will be broken and the training centre closed.

Bordeaux will still be called before the DNCG to provide their new budget for the 2024/25 season in the lower tier, meaning another sanction, including relegation to the fourth tier, remains a possibility.

Premier League, EFL, FA and WSL agree code of conduct for gambling sponsorships

The Premier League, EFL, FA and Women’s Super League (WSL) have announced a new code of conduct for gambling-related agreements in football.

A joint statement from the organisations said the code, which will be implemented from the start of the 2024/25 season, is designed to regulate gambling sponsorships across the professional game, and is based around four key principles: protection, social responsibility, reinvestment and integrity.

Under the code, revenue generated from gambling sponsorships must be redirected into football-related infrastructure and community programmes – including improvements to stadia and training facilities, as well as investments in grassroots football and local community participation.

Limit promotion to children

The code also states that “to protect children and other vulnerable persons, gambling sponsorship must be specifically designed to limit its reach and promotion to those under the age of 18 and those at risk of gambling related harm.”

It adds: “Gambling sponsorship must be promoted and delivered in a socially responsible way. This includes ensuring that education and awareness messages are provided as part of all marketing activities.”