Roma owner Dan Friedkin looks set to be closing in on a takeover of Everton after being granted exclusivity to buy the club.

In a statement issued on Friday, the Merseyside club said it “can confirm … that a period of exclusivity has been granted to The Friedkin Group to progress discussions to acquire a majority shareholding in Everton.”

The club said that “all parties will now work together to conclude this process”, adding that it “has received significant interest from several highly respected parties interested in investing in the club.”

Due diligence process

The Daily Telegraph has reported that terms, subject to various tests, were signed late last week as the Friedkin Group began a due diligence process.

There is said to be optimism from all sides of the deal that the American businessman can pass Premier League directors’ and owners’ tests and that he is “100 per cent committed” to buying the club.

Media: PSG have ‘not paid Mbappe’s salary for past two months’

Paris Saint-Germain have reportedly not paid Kylian Mbappe his salary for the past two months in a fresh sign of tensions with the star striker, who is about to join Real Madrid.

Sources have told The Athletic that PSG are taking the position as they do not believe Mbappe will meet a previous commitment to “economically protect” the club over his free transfer exit. It is understood the French champions are also withholding a bonus payment.

People familiar with the situation at PSG have previously described this commitment as an “agreement in principle” with Mbappe and his representatives that would “financially compensate” the club if he did leave for free on the expiry of his contract on 30th June.

“Complex” arrangement

Sources told The Athletic it was a “complex” arrangement that covered several scenarios — including the France captain waiving certain loyalty bonuses he might otherwise have been entitled to. Mbappe himself has also talked of “all parties being protected” when he leaves.

Discussions over this have been taking place since it was confirmed that Mbappe will join Madrid, but PSG’s decision to withhold his salary is said to indicate that little progress has been made.

Manchester United co-owner Jim Ratcliffe has warned that the Premier League is in danger of ruining its own competition amid ongoing controversy over its financial rules.

In an interview with Bloomberg, the British billionaire businessman said: “We’ve got more accountants than we’ve got sporting people at Manchester United. If you’re not careful, the Premier League is going to finish up spending more time in court than it is thinking about what’s good for the league.”

Commenting on the legal action taken by Manchester City against the Premier League over its associated party transaction (APT) rules, he said: “I can understand why they are challenging it. You can understand why they would say that they want an open market, free market.”

“Endless legal wrangle”

Ratcliffe went on to say that the Premier League needed to be “careful” not to end up in “an endless legal wrangle with lots of clubs”, adding: “We have got the best league in the world, don’t ruin that league for heaven’s sake.”

He also took aim at the new Top to Bottom Anchoring Rules (TBA) set to be trialled next season, saying: “It would inhibit the top clubs in the Premier League. The last thing you want … is for the top clubs … not to be able to compete with the likes of Real Madrid, Barcelona, Bayern Munich, and PSG.”

FIFA faces fresh obstacle over Club World Cup plans as Apple TV rights talks stall

FIFA’s new 32-team Club World Cup has hit another stumbling block, with clubs pushing back against lower financial incentives and an ongoing struggle to find a broadcaster, according to a report from Bloomberg.

FIFA was in talks with Apple over worldwide TV rights earlier this year, which would help pay fees to participating teams at the tournament, which is due to take place next June and July in the US.

However, discussions have stalled and it is understood that FIFA is now considering selling the rights to regional broadcasters.

The New York Times first reported that the value of the Apple deal might be around $1 billion, a quarter of the value FIFA was initially targeting. It is believed that since then, some clubs have been contacted by FIFA to assess whether they would play for a lower fee than previously hoped.

“Many” parties interested

A spokesperson for Apple declined to comment. A representative for FIFA said there are “many” parties interested in media and commercial partnerships, and it’s working daily to maximise the opportunity for everyone involved.

“FIFA is fully confident and convinced of the commercial and sporting success of the new competition,” the spokesperson said. “FIFA is in regular and productive dialogue with the key counterparties involved including prospective venues, media and commercial partners, and of course the clubs themselves.”

Women’s Super League revenue up 50 per cent to £48 million for 2022/23

Women’s Super League clubs generated combined revenues of £48 million in the 2022/23 financial year, up 50 per cent from £32 million in 2021/22, according to new analysis from Deloitte.

As spectator and commercial interest soared following England’s Euros triumph in the summer of 2022, the strong growth in revenues among the 12 WSL teams continued, up from just £20 million in 2020/21.

Of the latest figure, 66 per cent was generated by the league’s four most lucrative clubs: Arsenal, Chelsea, Manchester City and Manchester United. Deloitte forecast that the revenue figure for 2023/24 is likely to top £50 million.

Rise in average attendances

In 20222/23, a key factor in the higher incomes was an increase in average attendances from 1,923 to 5,616, while more frequent use of clubs’ principal stadiums contributed to gate revenue rising to £7 million.

Combined commercial revenue for 2022/23 rose to £17 million with Manchester United leading the way on £5.2 million. However, despite the increases, pre-tax losses of the 12 clubs also rose to £21 million, up from £14 million the previous year.

Belgian Pro League format to stay same as clubs vote against proposals for change

The format of Belgium’s Jupiler Pro League will remain unchanged after three new proposals put forward by the league failed to receive the backing of the required two-thirds majority among the clubs.

In a statement, the league confirmed that following the vote at its General Assembly it will start the 2025/26 season with 16 teams fighting for a place in a six-team Champions' Play-off, where each team will start with half the points they won in the regular season.

It had been widely anticipated in particular that the halving of points at the play-off stage would be dropped. Other proposals ranged from expanding the league from 16 to 18 teams, to having no play-offs at all.

“Envious eyes”

Pro League CEO Lorin Parys said after the meeting: "We will enter the new TV cycle with the current format. … At the end of the season, the whole of Europe looks at Belgium with envious eyes because the tension is often there until the last matchday."

Asked whether the necessary two-thirds majority should gradually be abolished he responded: "You also need a two-thirds majority for that. That majority is mainly a 'safe guard' not to make too many decisions or to reverse them."

Former Czech FA officials, referees and players sentenced over match-fixing ring

Former Czech FA deputy head Roman Berbr and other football officials have been sentenced for their involvement in a match-fixing scandal.

According to the verdict issued by the county court in the western Czech city of Plzen, Berbr was convicted of embezzlement and received a three-year suspended sentence and a CZK2 million ($86,500) fine.

Roman Rogoz, the former sports director of the Czech club Slavoj Vyšehrad, was given a four-year prison term and CZK400,000 ($17,000) fine while former player and official Michal Káník got a two-and-a-half year suspended sentence and a CZK130,000 Czech crown ($5,600) fine.

Another of the four key defendants in the case, former referee Tomáš Grimm, was cooperating with the law enforcement authorities and previously received a suspended sentence. The prosecution demanded jail terms for Berbr and Káník and can appeal the decision.

Organised crime group

In total, 16 people were convicted of bribery, embezzlement and participation in an organised crime group that was involved in fixing at least 10 matches in 2019 and 2020 in the second and third-tier leagues and were mostly fined and banned from activities in football.

Four others previously received sentences. The scandal broke in October 2020 when Czech police raided the FA headquarters and other locations as part of a corruption and match-fixing investigation, targeting referees and football officials.

Berbr, who resigned from his FA post following the raids, remained in police custody for three months. He pleaded not guilty.

The American property investor Todd Interests is considering a bid to buy the Paris-based club Red Star FC from fellow US investment firm 777 Partners, according to a report from Bloomberg.

Sources told the newswire that Todd Interests could team up with former France and Paris Saint-Germain player Peguy Luyindula for its bid. The Dallas-based firm specialises in distressed real estate investing and a deal for Red Star would be its first involving a football club.

The development comes with 777’s portfolio of football investments under scrutiny following its failed attempt to acquire Everton. Red Star – who will play in Ligue 2 next season after finishing top of the Championnat National – were taken over by the Miami-based group in 2022 amid fierce fan opposition.

Review of football portfolio

It is understood Red Star could be the first disposal of several 777-owned clubs recommended by the investment bank Moelis & Co., which has been hired by New York insurance company A-Cap, a major lender to 777, to review its portfolio of teams.

In an interview with Bloomberg, Shawn Todd, a partner at Todd Interests, declined to comment on a potential offer for Red Star but said he would be in Paris next week.
 

Ligue 1 broadcast rights: LFP rejects new €400 million offer from DAZN

With less than two months to go until the start of the new season, the LFP is still yet to agree on a deal for the Ligue 1 domestic broadcast rights after rejecting the latest bid from DAZN, L’Équipe has reported.

The LFP initially sought a €1 billion fee for the rights for the five-year cycle running from 2024/25 to 2028/29, but when the bundle of packages was put up for auction last September no bids were received.

The valuation set by the LFP has since dropped significantly, but negotiations with DAZN broke down in April after a €500 million offer from the UK-based streaming platform was also rejected.

Fresh attempt to revive talks

It is understood DAZN made a fresh attempt a few days ago to revive the talks with a new €400 million bid, but the offer was also turned down. The LFP is said to beholding out for the €500 million bid DAZN previously tabled.

According to L’Équipe, the LFP is also continuing to assess plans for the possible launch of its own Ligue 1 direct to consumer (DTC) service if no domestic broadcast rights deal is reached.
 

In recent years, multiple football clubs have faced financial difficulties, exacerbated by the impact of the Covid-19 pandemic. On the other hand, the influence of wealthy investors and state-funded investments has increased the financial pressure for other clubs to remain competitive. 

Consequently, football’s regulatory bodies have intensified their scrutiny of club finances. Based on this, recent seasons have seen intensified discussions around club ownership, legal charges, points deductions and salary caps to maintain an equal playing field.

Modern football now demands a balance between financial sustainability and on-field success, a balance increasingly challenging to achieve. Recognising clubs that stands out financially, highlights those that innovate and operate efficiently, ensuring both short-term and long-term success. 

Therefore, Off The Pitch is once again crowning Europe’s most financially sustainable clubs using a weighted model based on EBITDA-margin, Return-on-Assets (excluding exceptional income) and Equity-ratio across 245 clubs.

To further honor persistent financial sustainability, our ranking includes the last three fiscal periods – 2020/21, 2021/22 and 2022/23 – with the most recent period weighted the most. This approach diminishes seasonal anomalies and enhances the latest financial figures.

Additionally, clubs for which we cannot accurately identify transfer income within their total turnover have been excluded from the ranking to prevent artificially inflated EBITDA margins.

Clubs relegated in the 2022/23 season have been slightly penalized as financial sustainability must still align with on-field success.

Who is the most financially-sustainable club?

This year the fast-growing Norwegian club FK Bodø/Glimt tops the list. 

In 2018, Bodø/Glimt narrowly avoided relegation, but by the next year, they finished as runners-up in Norway’s top division. Since then, the club have won three league titles out of four possible – which also becomes the first titles in the history of the club, cementing their impressive rise to the top.

Bodø/Glimt’s impressive rise in Norwegian and European football has positively impacted their finances. Based on the Off The Pitch sustainable rankings, Bodø/Glimt placed 7th in 2021 and 3rd in 2022, ultimately securing this year’s top spot. Since 2018, the club have more than quadrupled its turnover, reaching €23.5 million during the most recent fiscal period.

Looking at the recent turnover figures, Bodø/Glimt achieves an EBITDA-margin score of 22.8, indicating a healthy core business. 

Additionally, Bodø/Glimt earned a Return-on-Assets score of 20.3 and an Equity-ratio score of 60.1, securing a total score of 29.5, well ahead of second place, and domestic competitors, Molde. 

Their domestic success has also boosted their European profile, with clubs like Arsenal and AS Roma visiting the small town of Bodø for Europa League and Conference League games in recent seasons. 

For a relatively small club like Bodø/Glimt, the European participation money constitute a significant part of their revenue, with the UEFA payments accounting for approximately 41 percent of total turnover during the 2023 fiscal year.

However, this also means that in order to maintain revenue levels comparable to recent seasons, UEFA payments are crucial in the short term. Ultimately, a season without European football could still significantly alter the financial landscape for a club with the size of Bodø/Glimt. 

Familiar faces reign the rest of the list

Six of last year’s top ten clubs remain, with Bayern Munich, Malmo FF, Tottenham and SD Eibar falling out. Molde have risen six spots from last year’s 8th place, while also Norwegian club Brann enters the top ten for the first time. 

From Denmark, AGF – Aarhus dropped four places to 8th, while Silkeborg IF debuts in 5th place after a 2022/23 season in the Conference League group stages. Swedish club, Djurgaarden also makes the list, highlighting the continued Scandinavian dominance of recent years sustainable rankings.

Last year’s most financially sustainable club, Atalanta BC, have fallen to 6th place after their first season in many years absent from any of the European tournaments, leading to a dip in their key financial figures. Despite this, their financials remain positive. 

Overall, Italian football has struggled with financial difficulties and scandals during the past decade, but the presence of three Italian clubs in the top ten suggests a potential turnaround, as Fiorentina and Napoli enter the list.

Manchester City takes the remaining spot on the list. Their impressive performances on the pitch are undeniable, however with 115 ongoing legal charges and unresolved legal disputes, financial consequences remain possible. For now, their treble-winning 2022/23 season positions them 3rd on the list, an improvement from 5th place last year. 

For those wondering, Sheffield Wednesday takes this years last place based on the three selected metrics.

Gabriele Gravina, president of the Italian Football Federation (FIGC), has revealed that UEFA and FIFA are strongly opposed to the Italian government’s plans to set up a new body that would oversee the budgets of sports teams, including professional football clubs.

Speaking at a hearing convened by the Chamber of Deputies' Culture Committee, Gravina said: “We have received an email from UEFA and FIFA, very strict. It invites us to put pressure on the government authority to reverse this measure, which is considered to violate the autonomy of sport."

The plans for the new body emerged last month, with a draft decree ahead of a cabinet meeting which approved the plans stating the "independent committee" would look after "the legality and regularity" of teams’ finances to ensure they are properly managed and sustainable.

“Disparity in treatment”

Expressing his own opposition to the plans, Gravina said: "The decree not only violates the principles of the market economy, but is clearly not in line with the principles of autonomy enshrined in the rulings of the Constitutional Court.”

He added: “I see a disparity in treatment compared to other sectors of the economy of our country”. Gravina also defended the work of Italian football watchdogCovisoc, saying it "has brilliantly exercised its task” since it was established in 1987.

English football regulator: Labour Party eyes plans for ticket prices and transfer levy

The Labour Party has reiterated its commitment to set up a new independent regulator for English football and said it may regulate ticket sales and review proposals to impose a transfer levy on Premier League clubs if it wins next month’s UK general election.

Speaking to reporters at the home ground of EFL League One club Bristol Rovers, Labour leader Keir Starmer said the party – which remains the runaway favourite to win the 4th July vote – intends to bring forward its own version of the Football Governance Bill in a bid to ensure clubs’ financial stability and protect fans.

Labour’s shadow secretary of state for digital, culture, media, and sport, Thangam Debbonaire, told Bloomberg the party is considering regulating ticket prices to ensure they’re not too expensive, with proposals for a levy on transfers by top-flight clubs, with the proceeds going to grassroots football, also being looked at.

“Back to first principles”

Debbonaire said Labour’s version of the Football Governance Bill will “go back to first principles,” adding: “In giving supporters a greater say in how their clubs are run and by strengthening owners’ and directors’ tests we will make England the best place in the world to be a football fan.”

When asked about regulating ticket sales, she said: “I’m going to look at everything because obviously ticket sales are a good part of income. But there’s a whole range of ways that clubs have to generate income.”

Olympique Lyonnais owners Eagle Football have announced that the sale of National Women's Soccer League (NWSL) club Seattle Reign FC (formerly OL Reign), agreed back in March, has been completed following approval of the deal by the NWSL and MLS.

In a statement, Eagle Football confirmed the sale of 100 per cent of the shares in the team for around €54 million to a group that includes the MLS club Seattle Sounders and global investment firm Carlyle.

“In line with the group's strategy announced on October 25, in particular the refocusing on men's football, this transaction should enable Eagle Football Group to recognise a capital gain on the sale in the 2023/2024 financial statements,” the statement read.

LDLC Arena sale

The Seattle Reign deal follows Eagle Football’s sale earlier this month of the multipurpose LDLC Arena to Holnest, the investment company of Lyon’s previous owner Jean-Michel Aulas, together with a group of other investors, for €160 million.

As reported by L’Équipe, Lyon’s latest appearance before French football’s financial watchdog the DNCG, due to take place last Wednesday, was postponed to the end of the month to wait for the completion of the Seattle Reign and LDLC Arena sales.

The billionaire owner of Roma, Dan Friedkin, has emerged as the new frontrunner to purchase Everton and is set to be handed exclusivity this week to complete a takeover, according to a report from The Times.

The US businessman is the chairman and CEO of the Houston-based Friedkin Group, which has been in talks with Everton owner Farhad Moshiri about acquiring his 94.1 per cent stake following the collapse of the proposed takeover by 777 Partners last month.

It is understood Friedkin must provide an initial sum of £200 million, which will pay off a £158 million loan and provide £30 million of working capital. That is scheduled to happen today, with exclusivity due to be granted tomorrow once the funds have cleared.

Talks with different parties

Moshiri has had discussions with a number of different parties, including the UK-based investor Vici Private Finance and the local businessmen and Everton fans Andy Bell and George Downing. However, Friedkin is said to be Moshiri’s favoured choice.

About £50 million of loan is owed to Bell and Downing with £80 million owed to MSP Sports Capital, another bidder of a drawn-out process. The Times reported that one of the rival groups was twice informed that a deal would be struck with them earlier this month, only for the trail to then go cold.

Manchester United begin £50 million revamp of Carrington training complex

Manchester United have announced that a £50 million renovation of the club’s Carrington training complex will start today, with work expected to last for the duration of the 2024/25 season.

In a statement, United said all areas of the building will be refurbished. “The initial focus will be on the gym, medical, nutrition, and recovery areas, with a design emphasis on creating more space for collaboration and innovation among players and staff,” the club said.

The architectural practice Foster + Partners, led by Manchester-born Lord Norman Foster, has been appointed to lead the project. The firm’s previous work includes the reshaping of Wembley Stadium and the design of the Lusail Stadium in Qatar, used for the final of the 2022 World Cup.

“World-class environment”

United co-owner Sir Jim Ratcliffe said: “We want to create a world-class environment for our teams to win. When we conducted a thorough review of the Carrington training facilities and met with our men’s first team players, it was clear the standards had fallen below some of our peers.

“This project will ensure Manchester United’s training ground is once more renovated to the highest standards.”

Everton strike club-record kit deal with Castore worth £20 million a year

Everton have announced a new “multi-year club-record” kit deal with Castore, which according to media reports is worth more than £20 million a year.

The Merseyside club did not put a precise figure or timescale on the contract. However, as reported by The Daily Telegraph, the value of the partnership is understood to be at least double what the club agreed with previous kit manufacturer Hummel. That four-year deal, which finished at the end of the 2023/24 season, was worth up to £10 million a year.

In a statement, Everton said Castore will also become the first founding partner of their new stadium on Bramley-Moore Dock, giving the sportswear brand “access to enhanced commercial opportunities and media rights” at the new venue once it opens next summer.

Difficult 12 months for Castore

For Manchester-based Castore, a fresh tie-up with a Premier League club is timely as it follows a difficult 12 months in which two of their biggest English football partners ended agreements, one doing so under controversial circumstances.

Aston Villa switched to Adidas shortly after complaining about technical issues with their Castore jerseys. Newcastle United have also moved from Castore to Adidas for the 2024/25 season, although they said that was solely for commercial reasons, describing the quality of their kits as “extremely high”.

Global footballers’ union FIFPro has gone through with its threat of court action against FIFA over next summer’s expanded Club World Cup amid heightened concerns over player burnout.

The lawsuit, also led by England’s Professional Footballers’ Association (PFA) and its French counterpart, the UNFP, requests a Belgian court to refer the case to the European Court of Justice (CJEU).

FIFPro said it had no other option than launching legal action after warnings went unheard over the scheduling of the 32-team Club World Cup in the US next June and July.

“Fundamental rights of players”

FIFPro Europe president David Terrier said: “Since all attempts at dialogue have failed, it is now up to us to ensure that the fundamental rights of players are fully respected by taking the matter to the European courts and thus to the ECJ.

“It’s not a question of stigmatising a particular competition, but of denouncing both the underlying problem and the straw that broke the camel’s back.”

The union is “challenging the legality of FIFA’s decisions to unilaterally set the international match calendar and, in particular, the decision to create and schedule the FIFA Club World Cup 2025”.

Everton takeover: UK-based investor backed by two billionaires enters race to buy club

Everton owner Farhad Moshiri has received a fresh bid to buy the club from a UK-based investor, Vici Private Finance, which is backed by at least two billionaires, according to a report from The Times.

It is understood that Vici – a newly established UK multi-family office of investment funds – initiated talks with Moshiri and his advisers several months ago and has offered concrete terms within the past week.

The Vici bid is being advised by Keith Harris, who was brought on to Everton’s board of directors by Moshiri in 2016 and was deputy chairman for a spell.

Billionaire owners’ funds

The Times reported that Vici has brought together a financial consortium for the bid supported by two western hemisphere billionaire owners’ funds and several foundations, including a humanitarian fund.

The bid involves no borrowed money and it is believed that proof of funds of about £1 billion in cash have been shown. As external funding is not required, an agreement could be executed quickly if Moshiri decides to give the group the green light.
 

FC Barcelona face legal challenge from Libero over Barça Studios stake sale contract

The fallout from the collapse of the planned IPO of FC Barcelona’s digital unit Barça Visión looks set to continue after it emerged that the club is facing legal action from the investment fund Libero.

The German firm failed to pay FC Barcelona €40 million for the purchase of a stake in the unit, which led the Catalan club to begin their own legal action against the firm earlier this year in the hope of attaining the funds.

However, Libero is now suing Barcelona for breaking the agreed contract of the stake sale, and in a note to the Frankfurt Stock Exchange states that the payment of the amount owed was guaranteed at the time by an external investor "with a solid financial situation" before they stepped aside.

Proceedings against investor

Libero has also initiated legal proceedings against the investor to claim the missing funds. The company adds that "it is unlikely that the lawsuit will have negative consequences for Libero" and hopes that the investor will fulfil what was agreed.

Last August, Libero announced it would be purchasing a 9.8 per cent share of Bridgeburg Invest, the holding company which controls Barça Vision.

However, at the beginning of this year it emerged that Barcelona had not been paid by Libero after extending the deadline to pay them until 31st December.

A-Cap, the US insurance company inextricably linked with failed Everton buyer 777 Partners, is regarded by the club’s owner Farhad Moshiri as a serious takeover contender, The Daily Telegraph has reported.

It is understood that A-Cap is attempting to convince Moshiri it can take control at the club despite apparent pressure from US authorities to cut its exposure to troubled 777.

Early interest from A-Cap CEO Kenneth King was initially dismissed as 777 descended into legal turmoil in recent weeks. However, Moshiri is now said to be in active talks with the New York-based executive.

Operational costs

King has some clout as he appears to have helped fund operational costs provided by 777 at Everton in recent months before the Miami-group’s takeover collapsed.

Some sources close to talks told The Telegraph that A-Cap is now in the driving seat, although other sides of a proposed deal play down his prospects.

All insiders agree, however, that King is fiercely motivated to secure an agreement, with money already tied up inside the Merseyside club.
 

Manchester United water down Erik ten Hag’s power amid new transfer policy

Manchester United manager Erik ten Hag’s influence on player recruitment is set to be reduced after it emerged the Dutch coach will continue in his role following an internal review of football operations at the club led by co-owner INEOS.

According to a report from The Independent, United are seeking to build a dynamic young squad primarily based on signings under the age of 24, as they now overhaul recruitment after finally making a decision on Ten Hag’s future.

It is understood that under the new approach the United manager will have a slightly altered influence amid contract extension talks, where he won't have the same responsibility over signings.

Ajax system

It is thought the new INEOS hierarchy ultimately felt it was only fair to give Ten Hag a chance at showing what he can do within the new structure, which is closer to the Ajax system where he forged his reputation.

The Independent also reported that while the aim is to quickly restore United as a Champions League club, one of the significant points raised in the internal review was how Arsenal benefited from patience with Mikel Arteta.

Motherwell investment from ex-Netflix VP set to be rejected by fan owners

A proposed investment into Motherwell from former Netflix vice president Erik Barmack and his wife Courtney is set to be rejected by the Well Society, the fan ownership group in control of over 70 per cent of the Scottish Premiership club.

In a club statement, Motherwell said they have “entered a period of consultation” with Well Society members and club shareholders and announced that voting on the proposed investment is to begin on 1st July.

However, the Well Society board has voted by a 6-3 majority against the proposal and released a statement of their own outlining six reasons why they do "not believe the negotiated terms are advantageous to the club" and urging members to oppose the offer.

Long-term future

The Well Society statement read: “Fan ownership is the only way we can safeguard the long-term future of the club. These proposals will see the Society’s shareholding reduced from 71% to a maximum of 46%, leaving us with a lesser shareholding than Wild Sheep Sports, who will secure 49%.

“We recognise that, in our consultation earlier this year, a majority of Society members signalled they would be open to considering an offer of investment that sees the Society lose its majority shareholding in the club.

“However, we do not believe the investment of £1,950,000 over six years justifies the significant risk involved in giving up fan ownership.”

Nassef Sawiris, the Egyptian billionaire owner of Aston Villa, has revealed he is contemplating a formal complaint against the Premier League over its Profitability and Sustainability Rules (PSR).

Sawiris told the Financial Times that he believes the rules are “anti-competitive” and that he is seeking legal advice about whether to mount a challenge.

“Some of the rules have actually resulted in cementing the status quo more than creating upward mobility and fluidity in the sport,” Sawiris said, adding that the sanctions for PSR breaches appeared “opaque and seemingly arbitrary”.

Failed attempt to change rules

At last week’s Premier League AGM, Villa failed in an attempt to increase the maximum losses allowed over three years under PSR from £105 million to £135 million.

The club have previously insisted they are operating within the PSR limit, despite announcing a £119.6 million loss for the 2022/23 financial year and recording the seventh-highest wage bill in the Premier League.

Nottingham Forest seek £20 million in transfer sales to comply with PSR

Nottingham Forest will have to raise around £20 million from player sales before 30th June to ensure they comply with the Premier League’s Profitability and Sustainability Rules (PSR), according to a report from The Daily Telegraph.

After being deducted four points last season, Forest are under pressure to make a trading profit before the end of this month to avoid further sanctions, but the amount required is understood to be lower than first estimated.

Forest are believed to be in a similar position to a number of other Premier League clubs, including Newcastle United, Aston Villa, Crystal Palace and Wolves, where significant offers for their players would have to be assessed.

Sales of fringe players

Morgan Gibbs-White and Murillo are Forest’s two most coveted assets, and it is understood that one sale may be required this summer to guarantee financial stability over future seasons.

However, the club is thought to be aiming to meet the £20 million figure before 30th June with the sales of fringe players and is said to be relaxed about the situation.