Everton’s future has been plunged into fresh uncertainty after the proposed takeover by Dan Friedkin, the US billionaire owner of Roma, collapsed late last week.

As reported by The Daily Telegraph, Friedkin ended a month-long period of exclusivity talks after becoming concerned about the level of debt at the Merseyside club following the failed takeover by 777 Partners.

In a further blow, sources close to another interested party –the consortium led by Everton supporters Andy Bell and George Downing – indicated they were not planning to revive their bid to buy out majority shareholder Farhad Moshiri.

“Alternative options”

In a joint statement released on Friday, The Friedkin Group (TFG) and Everton's current ownership group Blue Heaven Holdings said: "The parties agree it is in both their interests for Everton to explore alternative options.”

The statement added that Friedkin “will remain a lender to the club”. According to The Guardian, TFG has already leant £200 million to the club to help complete its new stadium at Bramley-Moore Dock and has paid off a £158 million loan to MSP Sports Capital, Bell and Downing.

Liverpool owner Fenway Sports Group reignites talks to buy Bordeaux

Fenway Sports Group, the owner of Liverpool, has unexpectedly reignited talks to buy the French Ligue 2 club Bordeaux, according to French media reports.

The Boston-based group initially pulled out of all negotiations last week but the French regional newspaper Sud Ouest reported that FSG has since returned for further talks at the last minute.

The move comes ahead of Bordeaux’s appeal to French football’s financial watchdog the DNCG, scheduled for today, against their relegation to the third tier due to a lack of financial guarantees.

€20 million debt

Sud Ouest reported that FSG met yesterday with representatives of the Bordeaux metropolitan area to discuss the €4.7 million per year rent of the club’s 42,000-seater stadium and its €20 million debt.

The newspaper added that FSG is in a clear position of strength in the talks: if current owner Gérard Lopez fails to sell the club in the coming hours he could be forced to file for bankruptcy and lose his€60 million investment.

Bournemouth owner Bill Foley: No to overseas Premier League games

Bill Foley, the American owner of Bournemouth, has said he would not support any plan to play Premier League games outside England.

Speaking to the BBC in Santa Barbara during his club's pre-season tour of the US, Foley said: "I believe what we are doing today – and there are other pre-season games – is what we should be doing.

"In terms of playing actual Premier League matches in America? We should play in the UK. That is where they belong. I am very respectful of our fans and the whole system. I wouldn't want to be involved in changing any of that.”

FIFA working group

In May, FIFA said it was setting up a working group to assess the potential impact of competitive domestic matches being played overseas following the settling of a legal dispute with Relevent Sports.

The Premier League has previously said it had no plans to get involved, although LaLiga is hopeful of staging games in the US in the 2025/26 season.

Angel City FC have agreed a takeover deal valuing the club at $250 million, making it “the most valuable women’s sports team in the world”, the club have announced.

In a statement, the Los Angeles-based team confirmed it has entered into a definitive agreement for Willow Bay, dean of the Los Angeles-based USC Annenberg School for Communication and Journalism, and Bob Iger, CEO of The Walt Disney Company, to become their new controlling owners.

The team’s board unanimously approved the sale via a vote, but it still must be approved by the National Women's Soccer League (NWSL). The sale is expected to close in the next 30 to 60 days.

Additional $50 million in investment

Angel City said: “Bay and Iger will acquire the controlling stake in ACFC at an enterprise value of $250 million,” adding that they have committed to an additional $50 million in investment.

Bay will serve as the club’s primary representative on the NWSL board of governors and also serve on and control Angel City’s board.

The $250 million valuation outstrips the most valuable team in women’s basketball’s WNBAthe Las Vegas Aces, who are valued at $140 million, according to data from Sportico.

Chelsea Women’s ownership change under Premier League review for fair market value

The Premier League is to review the takeover of Chelsea Women by the club’s parent company over whether it complies with the league’s rules on associated party deals and fair market value, The Times reports.

The transfer of ownership to Blueco 22 Midco could be worth tens of millions of pounds as a paper profit for Chelsea FC Holdings and significantly help the club’s compliance with the Premier League’s Profitability and Sustainability Rules (PSR) for the three-year period ending 2023/24.

Chelsea insiders insisted that the focus of the ownership change was to reposition the women’s team as separate to the men’s, and that this was not an attempt to exploit another loophole for PSR compliance.

Valued at £159 million

Reports in May indicated that Chelsea valued their women's team at around $200 million (£159.3 million), but the club has declined to confirm how much income Chelsea FC Holdings registered as a result of the change of ownership.

Any associated party deal valued at more than £1 million has to be approved by the Premier League, with an independent firm determining whether it is of fair market value or has been artificially inflated.

New UK government reintroduces bill to establish independent football regulator

The UK’s new Labour government has reintroduced the bill to establish an independent football regulator, and has committed imposing “fair financial flow” between the Premier League and EFL.

The Football Governance Bill, initially introduced in March, failed to pass through parliament before the general election was called in May. Labour reintroduced the bill during Wednesday's King's Speech.

The government said it will "protect football clubs" by "ensuring their financial sustainability". The bill will give a regulator "backstop powers" which could be used to intervene between the Premier League and EFL after their failure to agree a funding deal.

As reported by The Guardian, a government briefing document suggests there will also be new statutory protections for club names and a requirement for clubs to seek the regulator’s approval for a stadium sale or relocation.

Parry welcomes bill’s reintroduction

Rick Parry, the chair of the EFL, said he welcomed the reintroduction of the bill. “It is clear from the many conversations I have had since the general election result that the football pyramid matters to those inside and outside the game,” he said.

A Premier League spokesperson said it was “critical that the regulation of this highly successful industry is proportionate and effective, to ensure that English football can continue to be world-leading and deliver for millions of fans”.

Amanda Staveley eyes Tottenham Hotspur stake through new investment fund

Amanda Staveley, who has stepped down from the board of Newcastle United, is exploring a possible stake in Tottenham Hotspur as she looks for her next football investment, Bloomberg has reported.

Staveley has recently raised around £500 million through her investment fund PCP Capital Partners and a source said she has been looking at a number of clubs to deploy the cash.

Tottenham are said to be one of the clubs on Staveley’s radar and it is understood she has held initial discussions to buy a minority stake with Rothschild & Co., an adviser to the club.

It is thought that a deal, if any, is likely to involve convertible preference shares.

AS Monaco also among targets

Other potential targets being studied are said to include AS Monaco. It is unclear who the backers behind Staveley’s fund are. The British business executive is well-connected in the Gulf region.

Welsh FA becomes first national association to join Common Goal

The Football Association of Wales (FAW) has become the first national association to join Common Goal, as it commits to at least 1 per cent of ticket sales from World Cup qualifiers to community and environmental projects across the country.

Common Goal was set up by former Spain and Manchester United midfielder Juan Mata back in 2017 as he pledged 1 per cent of his football earnings to 190 football-based projects in 90 countries.

More than 250 players and managers, including Jürgen Klopp, Julian Nagelsmann, Oliver Glasner, Dani Olmo, Vivianne Miedema and Serge Gnabry, have followed since. Werder Bremen and Sporting Gijón are among the clubs to sign up.

Supporters to decide

Sharon Tuff, the FAW’s commercial director, said Wales supporters will decide where the funds generated for Common Goal will be used.

The FAW already directs 10 per cent of revenues to Welsh community projects via the Cymru Football Foundation, which became a Common Goal member this year.

With just over a month to go until the start of the new season, the LFP has finally sold the Ligue 1 domestic broadcast rights for the next five-year cycle running from 2024/25 to 2028/29, French media have reported.

According to L’Équipe, DAZN and beIN Sports will share the matches for a total of €500 million per year, way below the target set by the LFP, which hoped to bring in €1 billion per year from the domestic and international rights combined.

It is understood that the LFP board voted in favour of the DAZN-beIN joint bid at a tense meeting on Sunday. The other option on the table was an LFP direct to consumer (DTC) channel.

Headline fixture

L’Équipe reported that DAZN will pay €400 million per year for eight out of the nine games in each round, while beIN Sports will take the headline fixture each week, or the second biggest game every other round for €100 million.

While beIN Sports are tied in until 2029, there will be negotiations over an exit clause after two or three years. It is understood that while some minor details need to be ratified, the deal itself has been approved by the LFP.

Empoli unveil €45 million project to revamp Castellani Stadium

Empoli have unveiled plans for the redevelopment of the Castellani Stadium, with the project, which is estimated to cost around €45 million, set to increase the ground’s capacity from 16,284 to 18,600.

The Serie A club said the revamp, due to be completed in the summer of 2027, will result in an environmentally sustainable structure that will continue to host the team’s home matches while the works are ongoing.

The plans were presented by Empoli owner Fabrizio Corsi at an event also attended by the Italian minister for sport Andrea Abodi and Serie A CEO Luigi De Siervo.

Stands close to the pitch

The project will see three of the four stands rebuilt so they are close to the pitch. The Curva Sud will be turned into a grandstand with a capacity of 4,000 spectators, while the Curva Nord will become a 3,800 square metre stand for visiting fans.

In addition, a new covered grandstand for 4,300 spectators will be built from scratch. It will feature VIP and hospitality areas, as well as underground parking and 23 shops.

Valencia CF to resume work on Nou Mestalla within six months

Valencia CF have announced that work on the Nou Mestalla stadium is set to resume within the next six months after the City Council of Valencia granted the club the mandatory building licence for the plot of land where the partially built venue sits.

In a statement, the LaLiga club said: “This decision is the first milestone necessary for the construction work of the future Valencian stadium to be resumed.

“To this end, Valencia CF is working with both the construction company and the architectural studio to restart the works of the Nou Mestalla within a maximum period of six months from today.”

2030 World Cup boost

The construction of the new stadium has been beset by difficulties since being first unveiled back in 2006, but the latest development provides a major boost to the prospects of it hosting matches at the 2030 World Cup.

According to Spanish media, the total budget needed to complete the stadium is €120 million, of which €80 million will come from the LaLiga Impulso project with CVC.

Manchester City are reportedly claiming that the Premier League has treated them unfairly in assessing their commercial income by relying on the analysis of a data company that also works for their rivals.

As reported by The Guardian, the league’s scrutiny of the fair market value of City’s deals was undertaken by the global data and media valuation firm Nielsen Sports, which has contracts with several top-flight clubs.

City are understood to have raised the Premier League’s use of Nielsen in their legal battle over associated party transactions (APT), which was heard in private last month. A decision on the landmark case is expected soon, although it is unclear when it will be made public.

Competition law

It is claimed by City that the APT rules are unlawful because they contravene competition law. If successful, the club will demand financial damages from the Premier League for perceived losses from sponsorship deals blocked after analysis by Nielsen.

The Guardian also reported that City are understood to be arguing the Premier League’s APT rules are far more restrictive than UEFA’s and want them relaxed.

UEFA allows Manchester clubs to compete alongside sister teams in Europe

UEFA has ruled that Manchester United and Manchester City can compete in the same European competitions as other clubs under the same ownership next season.

United and Nice, the Ligue 1 club owned by Sir Jim Ratcliffe’s company INEOS, have both qualified for the Europa League, while City are in the Champions League along with LaLiga side Girona, who are also part of City Football Group.

UEFA had launched proceedings over potential conflicts regarding those clubs after relaxing its rules on multi-club ownership groups ahead of next season’s changes to its club competitions.

“Significant changes”

In a statement on Friday, UEFA said that “following the implementation of significant changes by the concerned investors” in both Nice and Girona, no one has “control or decisive influence” over both teams.

Girona confirmed changes to its board last week, while UEFA said that in both instances, the respective clubs “will not transfer players to each other, whether permanently or on loan, directly or indirectly, from July 2024 until September 2025, with the exception of pre-existing transfer agreements”.

Eintracht Frankfurt CEO Axel Hellmann issues warning over failed Bundesliga media rights deals

Axel Hellmann, the Eintracht Frankfurt CEO and a member of the DFL executive committee, has warned that the Bundesliga is facing a serious fallout from a potentially delayed or failed sale of its broadcast rights.

In comments reported by Bloomberg, Hellmann said: “Should we not be able to enforce our prices, should there be a decline in broadcasting proceeds, German clubs will have difficulties maintaining their status.”

Back in April, the DFL was forced to suspend the auction process for its domestic broadcast rights running from 2025/26 to 2028/29 after DAZN claimed it had unlawfully awarded the deal for the largest bundle of games to rival Sky.

European Super League risk

Plans to sell a stake in the DFL’s Bundesliga’s media rights business to a private equity firm have failed twice in the past two years, additionally undercutting the league’s ability to develop its streaming strategy.

“That’s why we have to build our own media management platform,” Hellman said, adding that if the league fails to address these issues, there is still a risk a European Super League could potentially destroy the current system of national leagues.

Nottingham Forest set to stay at City Ground after agreeing to purchase stadium land

Nottingham Forest look set to stay at the City Ground after Nottingham City Council confirmed that an agreement in principle is in place for the club to purchase the freehold of thestadium’s land, ending months of stalemate on its future.

At a meeting yesterday, Labour Council Leader Neghat Khan announced that a deal was in place, although it is yet to be officially ratified. An official decision on the deal is set for 16th July.

The exact terms of the agreement have not been confirmed, but The Athletic reported in May that the site had been valued at between £8-10 million.

Expand capacity to 40,000

A fresh agreement is seen as critical for the club’s existing plans to redevelop the stadium, which would expand its capacity from 29,000 to 40,000 through the rebuilding of the Peter Taylor Stand and extension of the Bridgford stand.

Previous negotiations over a leasehold agreement for the City Ground had broken down over the amount of money the club was prepared to pay, leading Forest to say they were considering a potential move to Toton in Nottinghamshire to create a new 50,000-capacity stadium.

Manchester United are to make nearly a quarter of the club’s staff redundant as part of co-owner Sir Jim Ratcliffe’s plan to deliver success on the pitch, according to a report from The Times.

United’s 1,150-strong workforce is thought to be the biggest of any club in the world, and staff have been told it will be cut by around 250 employees this summer to funnel more money into the football side of operations.

The move follows a review instigated by Ratcliffe, and it is understood the streamlined organisation will aim to ensure commercial efforts are focused solely on securing success on the pitch.

Only just complied with PSR

The Times also reported that part of the reason for the cuts is that United only just complied with the Premier League’s profitability and sustainability rules (PSR) for the three-year period ending 2023/24 – had it been any closer to the line, they might have been forced to sell a player to raise money.

It is understood the decision followed a lengthy review of United’s finances by the new leadership, which concluded that money is so tight that they have to watch every single penny to make sure as much as possible is made available for team strengthening and football-related expenditure.

Leicester’s challenge over potential PSR punishment dismissed by independent commission

Leicester City’s bid to avoid any potential punishment for an alleged breach of the Premier League’s profitability and sustainability rules (PSR) has been rejectedby an independent commission.

The alleged breach relates to the three-year period ending 2022/23, when Leicester were relegated to the EFL Championship. The club had questioned the commission’s authority to hear the case “on the basis that it is no longer subject to or bound by the PSRs”.

However, in a statement issued this week the Premier League said the independent commission had “dismissed” the challenge, adding: “the alleged breach relates to the PSRs for Season 2022/23, when the club was a member of the Premier League.”

Leicester to appeal decision

Leicester have said they will appeal the independent commission’s decision. In a statement, the club said it is “disappointed with the decision, which does not appear to reflect the wording of the Premier League’s rules, and has lodged an appeal.”

Leicester recorded a pre-tax loss of £89.7 million for the 2022/23 financial year, following a record £92.5 million deficit for 2021/22 and a £31.2 million loss for 2020/21.

Brighton owner Tony Bloom calls on Premier League clubs to stick to financial rules

Tony Bloom, the owner of Brighton & Hove Albion, has called on rival clubs to stop breaking spending rules amid concerns about the prospect of further points deductions in the Premier League next season.

In comments reported by the BBC, Bloom said: "I don't like the idea of clubs having points deducted in the middle of the season. However, if rules have been broken the Premier League has to apply the rules. It would be much better if clubs didn't put the Premier League in the situation where points deductions are necessary."

Everton were deducted eight points last season and Nottingham Forest four after they breached the league’s profitability and sustainability rules (PSR).

‘Unofficial transfer deadline day’

A total of £245 million was spent around 30th June–described as the “unofficial transfer deadline day” – as clubs dealt with the end of one accounting period and the start of another.

It will now be several months before the Premier League confirms if any clubs were not compliant with spending rules and have been charged. Brighton have no PSR concerns after making a record £122.8 million profit for 2022/23, which allowed the club to reduce the balance on their owner's interest-free loan to £373.3 million.

The Premier League has written to all 20 clubs to remind them of the rules over transfers following a number of deals that were negotiated ahead of the 30th June accounting deadline.

Clubs had until the end of last month to balance their books or risk being subject to sanctions related to the league’s profitability and sustainability rules (PSR).

According to The Athletic, the league stepped in last week after a “significant number of clubs” requested clarification over the rules related to player transfers and the application of a fair market value assessment.

Entitled to investigate

In a circular sent to all member clubs the league reminded its members that it is entitled to investigate any deals it believes are not conducted at “arm’s length” and can, if deemed necessary, request information on how a transfer fee was negotiated or determined.

The league also reiterated it has the power to order the return of a transfer fee to the buying club if it feels the transaction in question was “not considered to be conducted at arm’s length”.

Manchester United appoint Dan Ashworth as sporting director after reaching settlement with Newcastle

Manchester United have confirmed the appointment of Dan Ashworth as sporting director after finally reaching a settlement with Newcastle United over the 53-year-old’s move to Old Trafford.

The two clubs issued a joint statement yesterday, confirming they “have reached an agreement for the immediate release of Dan Ashworth from his contractual obligations at Newcastle United.”

The statement added: “The terms of this agreement remain confidential between the clubs. Newcastle United thanks Dan for his services and wishes him well for the future.”

Immediate start

As reported by The Daily Telegraph, Ashworth is expected to start his new role with immediate effect. His move marks the end of a bitter four-month wrangle with Newcastle over demands for £20 million in compensation.

It seemed an arbitration hearing was going to be needed to break the deadlock between the clubs and it is thought a hearing had been due to be held soon, but Ashworth is now free to start after the clubs broke the impasse.

Venezia raise fresh capital – APEX among new investors

Venezia have announced a fresh injection of capital through new and existing investors, including the sale of a minority stake to the sports investment firm APEX, which is backed by over 100 athletes including Raphaël Varane and Carlos Sainz.

In a statement, the newly promoted Serie A team said the other new investors are the Swiss-based asset manager Chiron Sports Group, and Elliott Hill, a former senior executive at Nike and current board member of a number of leading consumer brands.

Venezia confirmed that they have also raised additional funds from existing investors, and said the total amount of capital raised was “significant”, without revealing further details.

New Operating Committee

Venezia also announced that the club’s owners have formed an Operating Committee (OpCo) “to oversee the strategic direction of the club”. It said the group is comprised of 11 members who “collectively own the significant majority of VFC,” with club president Duncan Niederauer one of four sub-committee chairs.

Jamie Reigle, who has held executive positions at leading sports properties including as commercial director and board member at Manchester United, has been appointed as the OpCo’s vice-chairman.

RCD Espanyol end stadium naming rights deal with Stage Front amid non-payment allegations

RCD Espanyol have announced that they have terminated their stadium sponsorship deal with Stage Front and are preparing legal action against the US ticketing and hospitality firm over allegations of non-payment and breach of contract.

Espanyol, who won promotion back to LaLiga last month, signed the naming rights agreement last March. The deal, covering the following five seasons, was reported to be worth €1 million per year, with a clause to increase the fee if the team was promoted to the top-flight.

However, in a statement, the club confirmed the deal has ended after just one season, explaining that “the failure of Stage Front to comply with contractual obligations has led to the decision to terminate the agreement.”

Civil lawsuit

Espanyol added that they have instructed their lawyers to “immediately initiate legal action before the civil jurisdiction, with the filing of a civil lawsuit claiming payment of the invoices due and the damages caused by the early termination of the contract due to non-compliance.”

The club also claimed that Stage Front is “withdrawing all of the personnel responsible for the activation and monitoring of the contracts they handle in Europe, as well as ceasing their activities with LaLiga” – referencing a partnership with LaLiga North America in place since December 2020.

Reading Women leave Championship and move to fifth tier after takeover bid falls through

Reading have confirmed that the club has withdrawn from the Women’s Championship for the 2024/25 season, and that the team will now move to the fifth tier of the English women’s pyramid.

It comes after a late bid to take over the women’s arm of the club fell through. As reported by The Guardian last Friday, a consortium of UK-based and American investors had been ready to fund the team to carry on playing second-tier football, but the deal fell through at the final hurdle.

It is understood another separate, unnamed set of prospective investors, who are proposing to buy the wider football club from owner Dai Yongge, refused to agree to the women’s team being taken over.

“Dialogue with various parties”

In a statement issued on Sunday, Reading said: “Club personnel, with support from The FA, have exhaustively explored every option, including external funding and new investment opportunities for Reading FC Women, which would allow the team to maintain their Barclays Women’s Championship status – with dialogue with various parties taking place.

“Despite best efforts, the complexities around separate ownership have meant operating Reading FC Women under a separate funding model has not been possible.”

England (£1.3 billion) and France (£1.0 billion) are the only two squads to exceed the billion pound valuation mark, with England possessing four of the eight players on show this summer carrying a £100 million+ valuation.

Jude Bellingham (England) and Kylian Mbappe (France) lead the way as the highest valued players at the tournament, both valued at £152 million.

They are joined in the £100m+ category by England’s Foden (£127 million), Saka (£119 million) and Rice (£102 million), German pair Wirtz (£110 million) and Musiala (£102 million), and Spain’s Rodri (£102 million). In contrast, only Kane and Mbappe recorded values of this magnitude at Euro 2020.

Top 5 nations hold 50% value

The analysis by UCFB’s Football Finance experts, Claire O’Neill and Christopher Winn, also highlights that the five highest value squads - England, France, Portugal, Spain and Germany contribute around 50 per cent of the total value of squads competing at the tournament, a feature which is unchanged since Euro 2020, demonstrating the concentration of high quality talent amongst these nations in recent tournaments.

Overall, approximately £9.7 billion of playing talent has been included in the 24 squads for the tournament, a 2 percent increase on Euro 2020, according to data from Transfermarkt.

FIFA seeks $2 Billion investment for streaming service expansion

According to Bloomberg, FIFA is looking to secure a significant investment of 
1 billion to 2 billion for the expansion of its free streaming service, FIFA+. The service, which provides live match coverage, is part FIFA's digital strategy.

FIFA is collaborating with UBS Group AG on the fundraising initiative, targeting financial investors primarily from the US and the Middle East.

A formal fundraising process is anticipated to commence in July.

Still initial

While the discussions are still in preliminary stages and subject to changes regarding timing and the amount raised, the investment would represent a minority stake in FIFA+.

Both UBS and FIFA have refrained from commenting on the matter, as the information remains private at this stage.

AC Milan announces formation of new team

AC Milan have announced the formation of "Milan Futuro," a new team set to compete in Italy's Serie C for the 2024/25 season.

This follows the Italian Football Federation's (FIGC) approval of AC Milan’s application, finalising the 60-team roster for the league managed by Lega Pro.

Milan Futuro aims to develop young players from AC Milan’s youth sector. These players have already excelled in youth championships, the Youth League, and national youth teams.

The project seeks to complete their physical and athletic development and provide professional football experience within the club.

Bonera to Coach Milan Futuro

Daniele Bonera, who made 201 appearances for AC Milan over nine seasons, will coach Milan Futuro. Bonera started his coaching career with AC Milan as a technical collaborator in 2019 and earned his UEFA PRO qualification from Coverciano in 2020.

Manchester United is contemplating selling naming rights for a renovated Old Trafford or a new stadium to increase revenue for the project. Co-owner Sir Jim Ratcliffe also considers significant ticket price hikes.

According to a report from TheAthletic, club sources, who requested anonymity, confirmed ongoing discussions without definitive decisions. Manchester United has engaged in preliminary talks with major financial institutions, including Bank of America, to assess financing strategies.

The financial burden of the project and whether it falls on Manchester United or Ratcliffe's company, INEOS, remains uncertain. Manchester United's second-quarter financial results reported a debt of £653.3 million, not accounting for transfer fees owed.

Investment eases credit debt

Additionally, £120 million of Ratcliffe’s £238 million investment, initially for infrastructure, was used to reduce the balance on United’s revolving credit facility.

This strategy might allow Manchester United to secure future loans at more favourable interest rates for infrastructure investments. Manchester United declined to comment on the details, and Bank of America did not respond to requests for comment.

Pyrotechnics to be legalised in Norway

Norwegian football fans will soon see the legal use of pyrotechnics, including flares and smoke bombs, at matches through a trial project. After years of debate and supporter demands for a livelier atmosphere, the Norwegian government and Football Federation confirmed to TV2 Norway that these devices will be allowed in the top two divisions under strict regulations.

Minister of Justice and Emergency Emilie Enger Mehl announced that the football federation received an exemption for pyrotechnics in Norwegian stands under strict restrictions. She praised the initiative for creating a safe framework for their use.

Anders Kjellevold, chairman of the Norwegian Supporter Alliance, expressed great satisfaction with the exemption. "This is a major breakthrough. It's something we've worked towards for many years. From what I've seen, it's an agreement that will work very well for supporters at matches," he said.

Secured by collaboration

In April, Football Norway applied for an exemption, which was approved. Football president Lise Klaveness called it a compromise and praised the collaboration with clubs, supporters, and the government. She stressed that while supporters want to use pyrotechnics, safety remains the federation's top priority

The process leading to this exemption has been positively received by all parties involved. Klaveness acknowledged that without the cooperation of individual actors and the government, this would not have been possible.
 

Atlético de Madrid's General Shareholders' Meeting, has unanimously agreed to a €70.7 million capital increase. This will be achieved through the issuance of 378,352 new shares, each with a nominal value of €8.5 and an issue premium of €178.60, totaling €187.10 per share.

Atlético HoldCo, the club's majority shareholder, will exercise its preferential subscription right, contributing €50 million to the increase. Current shareholders will also have preferential rights to subscribe to the new shares at €187.10 each within one month of the announcement in the Official Bulletin of the Commercial Registry.

Miguel Ángel Gil, CEO of Atlético de Madrid, highlighted the club's efforts to balance infrastructure investment with maintaining a competitive squad. He noted their achievement of qualifying for the Champions League for twelve consecutive years and finishing among Europe's top eight teams this season while nearly amortising the cost of one of Europe's best stadiums.

Investment for competitiveness

Gil stated that the new football environment requires increased financial effort to remain competitive in Spain and Europe. He emphasized the club's extraordinary project to develop a new City of Sport and Leisure around the Cívitas Metropolitano Stadium, which will provide unique facilities but also requires further investment.

Additionally, the meeting approved the merger by absorption of Atlético Madrileño to adapt the Academy model to current demands.

Vitesse's licence revoked by KNVB's Licensing Committee

Dutch football club Vitesse has had its licence revoked by the KNVB's Licensing Committee due to its inability to provide complete documentation, including a covering budget. Vitesse are appealing the decision and remains hopeful, particularly after an agreement in principle between Guus Franke and Coley Parry regarding Vitesse's debt to Common Group.

In a club statement Edwin Reijntjes, interim general director of Vitesse, acknowledged that the decision was expected but emphasised the club's determination to appeal. "With the recent agreement with Coley Parry, we look forward to this process with confidence. We do not give up in the interest of the club; it is certainly not yet a done deal," Reijntjes stated.

The agreement with Parry follows months of tense negotiations after the Licensing Committee's disapproval of Common Group's takeover of Vitesse's shares on 14 February 2024, leading to a multimillion-dollar debt for the club. Guus Franke, a businessman from Gelderland, has agreed to a deal with Coley Parry, potentially becoming Vitesse's owner pending debt restructuring and KNVB approval for a new licence.

Reijntjes optimistic about Vitesse appeal

Reijntjes added that resolving past issues is crucial and praised Franke as a fantastic local entrepreneur willing to address these issues for Vitesse. The club will soon provide the necessary information to the Licensing Committee in Zeist and hopes for positive news from the Licensing and Appeals Committee within weeks.

The appeal case is expected to take place in two weeks. If unsuccessful, Vitesse still has the opportunity to challenge the decision in court.
 

Saudi-backed takeover of Monaco may depend on Newcastle links

A Saudi Arabian-funded group has emerged as the leading contender to acquire a majority stake in AS Monaco, but the deal's success may hinge on its potential association with Premier League club Newcastle United, owned by the Saudi Public Investment Fund (PIF).

Monaco's current president, Dmitry Rybolovlev, is considering selling his 67 per cent share in the Ligue 1 club. Although PIF is not directly involved in this bid, UEFA's regulations on multi-club ownership (MCO) could complicate matters.

According to a report from The Times, sources familiar with the sale process say that due diligence is being conducted to assess the implications of any MCO challenges. UEFA is expected to enforce rules requiring clubs under common ownership and participating in the same European competition to place one of their clubs into an independently managed "blind trust" for the duration of the season.

This policy will affect Ineos-owned Nice and Manchester United co-owner Sir Jim Ratcliffe, as well as Girona and Manchester City, which are part of the City Football Group.

Stricter UEFA MCO Rule

UEFA's MCO rules are anticipated to become more stringent from the 2024/25 season, with the upcoming season viewed as a transitional period.

Rybolovlev has publicly stated his openness to selling his stake in Monaco after receiving "unsolicited inbound interest" earlier this year, signalling potential changes ahead for the club's ownership structure.

European football market sees significant revenue increase in 2022/23 season

The European football market saw a significant 16 per cent revenue increase during the 2022/23 season, reaching €35.3 billion, largely bolstered by the 2022 FIFA World Cup, according to Deloitte’s Annual Review of Football Finance 2024. This season was the first since 2018/19 unaffected by COVID-19 disruptions and featured a mid-season pause for the World Cup.

The 'big five' European leagues led this growth, contributing €19.6 billion, which accounts for 56 per cent of the total market revenue. The Premier League, in particular, saw an 11 per cent rise in average revenue per club, exceeding £300 million for the first time, thanks to a new international broadcast cycle.

Both the Bundesliga and Serie A benefited from the full return of fans to stadiums, with each league recording a 22 per cent growth in total revenue compared to the previous season.

Live events crucial for football's growth

The report emphasises the critical role of live events in creating memorable experiences for fans, fundamental to football's growth and sustainability. It highlights that competition is essential for maintaining fan engagement and investment in the industry.

The Premier League is closely monitoring player transfers that may be used to exploit a loophole in its Profitability and Sustainability Rules (PSR), as clubs like Everton, Aston Villa, and Chelsea engage in transactions to comply with financial regulations for the 2023-24 season, according to a report from The Times.

These clubs have been involved in transfers or discussions involving buying and selling players to each other, raising concerns about potential breaches of good faith obligations.

Recent deals include Villa's acquisition of Everton’s Lewis Dobbin and Everton's signing of Villa’s Tim Iroegbunam for £9 million. Additionally, talks are underway about Villa selling Omari Kellyman to Chelsea, with Ian Maatsen moving in the opposite direction for £37.5 million.

Could be a violation

According to the rules, clubs must act in good faith towards one another and the league. If transfer fees are inflated to sidestep PSR rules, this could be seen as a violation.

The Premier League has not commented on specific deals but is aware that charging inflated fees to circumvent PSR rules could be problematic.

Manchester City faces new threat from Football Leaks scandal

Manchester City faces a new threat from the Football Leaks scandal, with hacker Rui Pinto claiming to possess "millions of documents" proving the club's violation of financial regulations. Pinto, who previously leaked Manchester City's emails in 2018, has reportedly handed these documents to authorities in Germany and France.

According to The Sun, Pinto, who received a four-year suspended sentence for attempted extortion, illegal data access, and breach of correspondence, has been under witness protection since 2020. He is believed to hold the majority of documents related to Manchester City's financial dealings.

Manchester City, charged with 115 alleged Premier League violations, will face an independent commission in November. The club is accused of disguising payments through third parties as sponsorship revenue, which they deny.

More Man City Financial Misconduct Files

Pinto addressed the OffshoreAlert Marbella Conference via video link, stating: "The Man City releases showed amounts of money paid by the club not mentioned to football authorities. These documents are part of the Premier League investigation into City. I have handed five hard drives to French and German authorities with millions of documents, including more on City, and described what is on each. I am confident they will find criminal relevance."

A legal representative for Pinto indicated a substantial file of unreleased Manchester City-related documents will eventually be published, though no specific timeline was provided.

Liga Portugal anticipates record revenues for 2024/25 season

During a press conference following Liga Portugal's Ordinary General Assembly, CEO Helena Pires announced that the organisation is on track to achieve record revenues for the 2024/25 sports season.

Pires highlighted that, for the first time in its history, Liga Portugal's revenues have surpassed the 30 million euro mark, with a projected profit of around 1.1 million euros. This financial success will allow for the largest distribution of funds to Sports Societies, estimated at about 10 million euros.

According to Pires, this financial growth is a testament to the "great rigour" and "professionalism" within Liga Portugal, as well as the active involvement and competence of the Sports Societies. She emphasised that their collaboration has enhanced Liga Portugal's credibility and has been well-received by partners.

Mendes Praises Liga Portugal Leadership

José Mendes, President of the Board of the General Assembly of Liga Portugal, also commended the Sports Societies and acknowledged the management efforts led by Pedro Proença in improving the professional football product. Mendes stated, "The merit of the management of Liga Portugal over the last ten years is unequivocal and demonstrable." He credited the quality of football, players, and the league's reputation for enabling growth, asserting that it is impossible to achieve such results without a good product.

The General Assembly also unanimously approved a vote of praise for Liga Portugal, its President Pedro Proença, and all the Clubs that have contributed to the management of Liga Portugal over the past nine years.