UEFA have raised concerns that the Premier League’s new financial spending rules could increase the gap between English clubs and the rest of Europe, according to BBC.

Premier League clubs have voted to introduce a squad cost ratio (SCR) from next season, allowing teams to spend up to 85 per cent of their revenue on player costs. The system also allows spending to rise to as much as 115 per cent in certain circumstances before sporting sanctions apply.

By comparison, UEFA’s own SCR limit is 70 per cent for clubs competing in the Champions League, Europa League and Conference League.

Concerns over market impact

Andrea Traverso, UEFA’s director of financial sustainability and research, warned that the disparity could create “tensions in the market”.

He said the Premier League already generates around a quarter of total European club revenues and highlighted what he described as a “worrying concentration of talent”, with around 40 per cent of the world’s highest-value players at English clubs.

FIFA cuts more than $100 milion from 2026 World Cup operating budget

FIFA have cut more than $100 million from the operating budget for the 2026 World Cup, according to The Athletic, with multiple departments at the governing body’s US headquarters in Miami instructed to make “efficiencies”.

Staff working across areas including safety, logistics, security and accessibility have been told the tournament’s operating budget has been reduced by comfortably more than $100 million, with the order for tighter cost controls coming from FIFA’s headquarters in Switzerland.

FIFA’s 2024 annual report projected operational expenses for the 2023-26 cycle World Cup at $1.12 billion as part of a total tournament budget of $3.756 billion, which includes prize money and broadcast operations.

Revenue projections and reinvestment target

FIFA president Gianni Infantino told CNBC in February that the governing body expects the tournament, which will be held across the United States, Canada and Mexico in June and July, to generate more than $11 billion in revenue.

FIFA have also set a target to reinvest at least 90 per cent of their $12.9 billion investment budget for the 2023-26 cycle into global football development, equivalent to $11.67 billion.

Ashley outbid by Storch in Sheffield Wednesday takeover race as club face possible 15-point deduction

American businessman David Storch has emerged as the leading contender to buy Sheffield Wednesday after outbidding rivals including former Newcastle United owner Mike Ashley, according to The Times.

The Championship club have been searching for a new owner since owner Dejphon Chansiri placed the club into administration in October. Bids were submitted over the weekend by Storch, Ashley and a consortium led by former Charlton Athletic chief executive Charlie Methven.

Storch’s offer is understood to be significantly higher than Ashley’s, though the exact figure has not been disclosed and is believed to be below £30 million. Administrators are expected to announce the preferred bidder this week before the deal is subjected to the English Football League’s owners’ and directors’ test.

Possible points deduction

Separately, Sky Sports report that Wednesday could start the 2026/27 season in League One with a 15-point deduction unless Chansiri is paid £15 million he is owed by the club.

Under English Football League (EFL) rules, all football creditors must be paid in full in an administration process, while other creditors must receive 25 per cent on the pound. Chansiri, who has loaned more than £60 million to the club during his 11-year ownership, must therefore receive £15 million if the new owners are to avoid a points penalty.

None of the current bidders are understood to be prepared to make that payment.

Mercury13 acquires majority stake in Liga F club FC Badalona Women

Women’s football investment group Mercury13 has acquired a majority stake in Spanish top-flight club FC Badalona Women, marking the group’s first investment in Spain and its third club acquisition.

The deal follows Mercury13’s purchases of FC Como Women in 2024 and Bristol City Women in 2025, as the investor continues its strategy of building a multi-club network across the main European women’s leagues. The acquisition also represents the first time a women’s football-focused multi-club ownership group has invested in Liga F.

The agreement was followed by two commercial partnerships, with sportswear brand Nike confirmed as the club’s technical partner and ticketing platform Fever signing as principal front-of-shirt sponsor and strategic partner.

Governance changes

Mercury13 chair Lauren Holiday will join the club’s board and former FIFA executive Pedro Iriondo will become chief executive, while club president Josep Bellet will remain in his role.

From the 2026/27 season, the team is expected to play home matches at the Estadi Municipal de Badalona following renovation work led by the local municipality.

City Football Group has posted a pre-tax loss of £292.3 million for the 2024/25 financial year - a sharp increase from the £122.3 million pre-tax loss recorded last year.

The 11-club MCO, fronted by Manchester City and including Palermo and New York City, saw total revenue decline year on year by almost 5 per cent, from £933 million to £888 million. This was mainly due to a £36 million decrease in UEFA broadcasting revenue to £71 million.

Other broadcasting income fell by £18 million, partially offset by a £14 million increase in commercial revenue.

Profit from player sales almost halved compared to the previous year, falling from £211 million to £117 million.

Girona in blind trust

The group’s operating expenses reached £1.26 billion with wages accounting for £630 million, resulting in an operating loss of £362 million.

During the 2024/25 season, Girona were placed into an independent blind trust to comply with UEFA regulations on multi-club ownership after both they and Manchester City qualified for the Champions League. The Spanish club were therefore deconsolidated from the group’s financial accounts.
 

Abramovich remains "fully committed" to €2.7 billion Ukraine war donation but warns he will contest confiscation

Roman Abramovich says he remains committed to donating the €2.7 billion proceeds from the 2022 sale of Chelsea to victims of the war in Ukraine, but his legal team has warned the UK government he will challenge any attempt to confiscate the funds.

The money from the May 2022 sale remains frozen in a UK bank account belonging to Fordstam Ltd, a company wholly owned by Abramovich, amid an ongoing dispute over how the funds should be distributed.

In correspondence seen by The Athletic, Abramovich’s lawyers said the Russian businessman remains “fully committed” to donating the proceeds to charitable causes benefiting “all victims” of the war, but argued the UK government has “no legal basis” to threaten litigation or impose a licence to control how the money is transferred.

Distribution dispute

The UK government has sought to ensure the money is directed towards humanitarian aid in Ukraine. In December, Prime Minister Keir Starmer said the “clock was ticking” for Abramovich to transfer the funds to a new foundation and warned the government was prepared to pursue the matter through the courts.

Abramovich’s lawyers reiterated his position that the proceeds should benefit all victims of the conflict, including Russians - a stance that contrasts with the UK government’s intention for the funds to support humanitarian aid specifically in Ukraine.
 

beIN Sports appeal ruling ordering payment of €15 million to LFP Media

beIN Sports have appealed a Paris court ruling that ordered the broadcaster to pay the full outstanding sums owed to LFP Media for its Ligue 1 Saturday afternoon match package, according to L’Équipe.

The Paris economic activities court ruled that the Qatari broadcaster must pay €14.1 million in unpaid instalments linked to the rights agreement, plus late-payment interest. The total amount paid following the judgment was around €15 million.

The dispute stems from beIN Sports withholding part of the €78.5 million annual fee for the Saturday afternoon Ligue 1 fixture this season. At each of three payment deadlines the broadcaster deducted €4.7 million from the €18 million instalments and also sought €29 million in damages, arguing that restrictions placed on the broadcast reduced the value of the rights.

Despite settling the amount following the ruling, beIN Sports have now appealed the decision, extending an ongoing legal dispute with the French league’s commercial arm. From next season beIN Sports will no longer hold Ligue 1 rights, with the league’s new direct-to-consumer platform, Ligue 1+, set to broadcast all matches.

Amazon rights dispute

The broadcaster are also involved in a separate legal case with Canal+ against LFP over the valuation of domestic broadcast deals agreed in 2021.

LFP awarded Amazon Prime Video rights to 80 per cent of Ligue 1 matches for €250 million per season, while the remaining 20 per cent were sold to beIN Sports for €332 million, with Canal+ sublicensing the package. The two broadcasters criticised the disparity and are seeking €660 million in damages.

Real Madrid paid €277.5 million in salaries in the first six months of the 2025/26 season, a €38 million (16 per cent) increase on the same period a year earlier, according to interim financials filed by the club.

The higher wage bill contributed to a sharp fall in profitability. Pre-tax profit for the six months to December 2025 was €6.1 million, down 84 per cent from €38.3 million in the same period the previous year.

Most of the increase in personnel costs came from football staff, particularly first-team players. Personnel expenses for the first team rose by €26.5 million following the arrivals of Dean Huijsen, Trent Alexander-Arnold, Alvaro Carreras and Franco Mastantuono.

Decreasing revenue

Revenue also declined year-on-year. Real Madrid generated €571.3 million in the first half of the season, €18.5 million less than in the corresponding period of 2024/25.

Marketing income fell by €26 million, driving most of the decline, although this was partly offset by €29.2 million in prize money from the Club World Cup, where the club reached the semi-finals in July.

 

Milan prosecutors seek to close investigation into AC Milan sale

Prosecutors in Milan have asked a court to close an investigation into the 2022 sale of AC Milan that examined allegations the transaction concealed Elliott Management’s continued control of the club and obstructed oversight by the Italian football federation, according to Corriere della Sera.

The probe followed claims linked to the sale to RedBird Capital Partners on 31 August 2022 and complaints from minority investors that information about ownership and the transaction had been withheld.

The investigation began after a complaint from former minority investors Salvatore Cerchione and Gianluca D’Avanzo, who said they had been excluded from discussions about the sale.

No criminal misappropriation

Prosecutors concluded the minority shareholder had been deliberately kept unaware of negotiations that had started in December 2021 and that the release of a pledge on shares in 2022 constituted a civil violation, but not criminal misappropriation.

Court documents related to the investigation showed the sale agreement included a financial mechanism linked to around 5 per cent of the club’s value. The instrument does not give Elliott shares, voting rights or governance influence, but could allow the fund to benefit financially if Milan is sold in future at a significantly higher valuation.

 

LAFC stake sale values MLS club at $1.25 billion as Carlos Vela joins ownership

Los Angeles FC have sold a 6 per cent minority stake at a $1.25 billion valuation, with former player Carlos Vela among the investors joining the Major League Soccer club’s ownership group.

According to Sportico, the transaction was agreed in 2025 and closed earlier this year. The stake was acquired by three new investors, including Vela, while existing investors Joe Tsai and Mike Mahan exited the group.

The identities of the two other incoming investors were not disclosed, although Sportico reported that one is a Korean-American investor and the other a Mexican businessperson.

LAFC confirm

Founded in 2014, LAFC joined MLS in 2018 after paying a then-record $110 million expansion fee. The club generated $158 million in revenue in 2025 and are ranked among the league’s most valuable franchises.

LAFC confirmed that a transaction had taken place but did not publicly disclose further details.

Clubs in the English Football League (EFL) have approved plans to expand the Championship play-offs from four to six teams from the 2026/27 season, creating a route for the sides finishing seventh and eighth to reach the Premier League.

The decision was confirmed on Thursday, with teams placed third to eighth entering the post-season competition. The revised format will increase the number of play-off matches from five to seven.

Under the proposed structure, the teams finishing fifth to eighth will compete in two single-leg eliminator ties, with the winners progressing to the semi-finals against the third and fourth-placed sides.

The semi-finals will continue to be played over two legs before the winners meet in the play-off final at Wembley Stadium. A finalised format is expected to be confirmed later this year.

Strengthening the Championship

In a statement, EFL chief executive Trevor Birch said the play-offs are a highlight of the domestic football calendar and expressed confidence the new format would benefit the league.

“This change will further strengthen the Championship as a competition and give more clubs and their supporters a genuine opportunity of achieving promotion,” Birch said.
 

Nottingham Forest sideline Edu as former head coach Nuno pursues legal dispute

Nottingham Forest have told global head of football Edu not to attend matches as pressure grows on the Brazilian executive following a difficult season on and off the pitch, according to English media.

Edu, who joined Forest in the summer after leaving Arsenal, did not attend the club’s 2-2 draw away to Manchester City on Wednesday night, as he has been instructed to stay away from the club’s stadium and training ground.

The development follows criticism of Forest’s recruitment and managerial decisions after spending around £200 million on players in the summer. The club have dismissed three managers this season and sit 17th in the Premier League, outside the relegation zone only on goal difference.

Legal dispute

The club’s managerial instability has also led to a legal dispute with former head coach Nuno Espírito Santo, now in charge of West Ham. According to The Athletic, lawyers have been appointed as Nuno challenges the circumstances surrounding his dismissal at the start of the season.

The Portuguese coach had signed a new three-year contract with Forest in June, but relations deteriorated quickly after the new campaign began. Sources familiar with the situation have described the dispute as acrimonious, highlighting the strained relationship between the two parties.
 

Ashley and Storch emerge as leading bidders for Sheffield Wednesday

Mike Ashley and US businessman David Storch are expected to submit rival bids for Sheffield Wednesday as the club’s administrators move towards selecting a buyer before the weekend.

According to The Telegraph, Begbies Traynor are awaiting final offers, with Ashley and Storch regarded as the two leading contenders to acquire the Championship club after its takeover process was reopened.

Ashley, the former Newcastle United owner, submitted an offer of around £20 million in November and has remained interested in purchasing the club.

Storch’s consortium had previously been involved in the process and has indicated it remains ready to proceed with a bid.

Takeover process reopened

The bidding process resumed after a proposed acquisition led by former professional poker player James Bord fell through last month.

Bord’s consortium had covered more than £4 million in operating costs after being granted exclusivity in December but withdrew after reassessing the club’s valuation, after an initial bid of £47.8 million.
 

Fund invests $40 million in NWSL side North Carolina Courage at $155 million valuation

Marc Lasry’s Avenue Sports Fund has agreed to invest $40 million in NWSL side North Carolina Courage at a $155 million pre-money valuation, according to Sportico. The minority investment still requires approval from the National Women’s Soccer League.

The agreement follows a failed attempt by Lasry to acquire a controlling stake in the club from owner Steve Malik two years ago at a valuation of around $108 million, with the deal collapsing due to league restrictions on private equity control ownership.

Lasry launched the Avenue Sports Fund in 2023 after selling his stake in the Milwaukee Bucks. The fund has since invested in several sports properties, including Ipswich Town.

Valuation increase

The club were founded in 2017 after Malik relocated the Western New York Flash to North Carolina. They have since won two NWSL championships, in 2018 and 2019.

In 2022, North Carolina Courage raised $15 million at a $66 million valuation, meaning the club’s valuation has risen by around 135 per cent in four years.

Europe’s biggest clubs are lobbying UEFA to increase the maximum squad size in the Champions League from 25 to 28 players, arguing the change would help reduce player injuries and ease workload during congested schedules, according to a report from The Guardian.

The proposal was raised at a meeting of UEFA’s club competitions committee last month, where several clubs supported expanding the current cap. However, the idea has met opposition from some of the 16 clubs represented on the committee.

No decision was taken and no formal proposal was tabled, but the issue was not dismissed and is expected to return to the agenda. The topic has also been discussed within UEFA’s national team competitions committee, where coaches are reportedly divided on the potential benefits of larger squads.

Concerns over talent concentration

Supporters of the change argue that larger squads would allow coaches to rotate players more effectively and maintain quality during matches, particularly in the later stages of the competition.

Critics warn the move could further concentrate elite talent at Europe’s richest clubs. With a limited pool of top-level players, even a small increase in squad limits could encourage leading teams to stockpile players, potentially accelerating the drain of talent from smaller European leagues already concerned about widening financial gaps.

Houston Dash owners relaunch sale process

The owners of NWSL club Houston Dash have restarted the process to sell the franchise after talks last year with a prospective buyer collapsed over league approval concerns.

According to Sportico, owner Ted Segal had been in advanced negotiations to sell the club to investment group RHC Partners for around $120m, but the discussions ended amid concerns within the NWSL about whether the group and the source of its funding would pass the league’s ownership vetting process.

The sale process had been centred for months on the RHC talks but is now focusing on other potential buyers.

Expansion benchmark raises expectations

In November, Atlanta Falcons and Atlanta United owner Arthur Blank agreed to pay a $165m expansion fee for a new NWSL franchise in Atlanta, setting a new benchmark for the league as valuations continue to rise.

Segal bought both the Dash and MLS side Houston Dynamo in 2021 for around $400m, when the women’s team accounted for only a small share of the overall deal value.

Leeds director warns Elland Road regeneration risks collapse without government infrastructure

Leeds United director Peter Lowy has warned that plans to regenerate the area surrounding their stadium Elland Road may fail without government-backed infrastructure, saying the wider development will “never happen” if it does not proceed now.

The club received planning approval from Leeds City Council in January to expand Elland Road from 37,645 seats to around 53,000. Lowy said the stadium redevelopment will move forward regardless but argued broader investment depends on transport improvements.

Speaking to BBC Radio Leeds, Lowy said the expansion represents a “once-in-a-generation opportunity” to redevelop the south Leeds area but warned that private capital will not wait indefinitely for public investment.

Infrastructure tied to wider investment

Lowy said that if the government delivers the transport infrastructure, investors could commit between £1 billion and £2 billion to a wider masterplan including up to 2,500 homes, around 200,000 square feet of office space and retail development.

West Yorkshire mayor Tracy Brabin has pledged to deliver a regional mass transit system, although the project has already been delayed by several years. BBC Radio Leeds reported in January that Lowy met chancellor Rachel Reeves to discuss funding a light rail link from Leeds station to White Rose, including a stop at Elland Road.

Saudi Pro League tells clubs matches will continue despite regional conflict

The Saudi Pro League has told clubs that matches will go ahead despite the escalating conflict in the Middle East, according to The Athletic.

The league wrote to clubs stating that security protocols are being followed and that fixtures will continue as scheduled, although the situation is being monitored on a day-to-day basis.

The communication follows reports that Iranian drones targeted the US embassy in Riyadh earlier this week, according to the Saudi Ministry of Defence. The King Fahd Causeway, linking Saudi Arabia and Bahrain, has also reportedly been targeted.

Staff raise safety concerns

Staff members working in the league told The Athletic there is growing unease among players and staff about their safety following the recent escalation.

One source said some players’ families had already left the region and that several foreign players were considering doing the same, despite the league informing clubs that matches this weekend are expected to proceed as planned.

The 36 clubs in Germany’s top two divisions have unanimously approved the introduction of a squad cost cap limiting spending on playing staff to 70 per cent of relevant revenues from the 2026/27 season.

The decision was taken at the general assembly of the Deutsche Fußball Liga (DFL), with the new rule set to apply initially with a softened sanctions regime before taking full effect in 2028/29.

Under the regulation, licensed player costs must not exceed 70 per cent of a club’s relevant income. The DFL said the measure is intended to safeguard the long-term financial stability of clubs, parent associations and the league.

DFL to rebrand as Bundesliga

At the same assembly, the clubs approved a renaming of the league association, with DFL e.V. to become Bundesliga e.V. and DFL GmbH to become Bundesliga GmbH from the 2026/27 season.

The presidency and supervisory board had previously backed the proposal unanimously, with the member clubs formally adopting the change.

According to the league, the rebranding aligns the association and its operating company with the competition brand. The existing Bundesliga and 2. Bundesliga logos will remain unchanged.

LaLiga raises club salary cap to €3 billion after winter window

LaLiga have increased the aggregate squad cost limit to €3 billion following the winter transfer window, up €95.3 million from September 2025.

After the transfer market closed, the combined limit for LaLiga and LaLiga 2 stands at €3,000.1 million, compared with €2,904.8 million at the start of the season. In LaLiga the total rises to €2,779.7 million.

FC Barcelona account for the largest increase, with their limit rising from €351.3 million to €432.8 million, primarily due to the recognition of nearly €100 million from the sale of a package of VIP seats. Atlético de Madrid increase their cap by €9.3 million to €336.3 million, while Athletic Club rise by €6 million to €132.1 million.

Winter window adjustments

Among the reductions, Levante UD see their limit fall from €35.5 million to €17.4 million after certain expected transfers, including that of Etta Eyong, did not materialise. Getafe CF drop to €34.8 million. Real Betis reduce their margin by €3.8 million to €122.1 million, while Elche CF decline by €3.6 million to €36.8 million.

In LaLiga 2, the aggregate cap increases by around 10 per cent to €220.4 million.

Leicester City restructure leadership amid PSR appeal

Leicester City have announced a revised leadership structure, promoting finance director Kevin Davies to chief executive officer and appointing director of football Jon Rudkin as chief football officer.

Davies will oversee the business and financial operations of the Championship club, while Rudkin will take responsibility for all football matters, including the women’s team.

The club have also appointed James McCarron as sporting director in a newly created role following his departure from Lommel SK. He will work alongside head of recruitment Martyn Glover on player identification. Interim managing director Kamonthip Netthanomsak remains in post as a link to owner Aiyawatt Srivaddhanaprabha, and Russell Jones has been named commercial director.

PSR appeal ongoing

The Championship club continue to deal with financial uncertainty and an ongoing appeal against a six-point deduction for breaching the Premier League’s profit and sustainability rules (PSR). The league had sought a 12-point penalty, but an independent commission reduced the sanction, noting the club’s efforts to bring their finances back below the PSR threshold. Both sides have appealed.

Kevin Davies, who has been at Leicester since 2011 and became finance director in April 2023, represented the club at the PSR hearing during a period of financial pressure.

DFL clubs approve new U21 league from 2026/27 season

The 36 clubs of the Bundesliga and 2. Bundesliga have unanimously approved the introduction of a new U21 competition from the 2026/27 season following a vote at the DFL general meeting on Tuesday.

The additional league will operate as a voluntary supplementary competition for clubs in Germany’s top two divisions and is designed to provide more competitive playing time for players in transitional age groups between U17 and U21. Clubs will not be required to establish new reserve teams in order to participate.

The format will consist of two separate league-style series, with the leading teams progressing to a final tournament. Up to four over-age players will be permitted per team, including to support the return of players from long-term injury. Matches will be played behind closed doors to limit organisational costs, although the DFL is exploring the possibility of staging the 2027 final tournament with spectators and media coverage.

Focus on transitional development

The decision follows a recommendation from an expert group formed by the DFL last year, which included representatives from the league, clubs, the DFB and external specialists. The group was tasked with identifying development priorities in German professional football.

DFL chief executive Marc Lenz said youth development is “a crucial factor for the future competitiveness and attractiveness of the Bundesliga”, adding that recent outcomes in youth and transitional development “have been insufficient”. He cited limited playing time for talented players as a contributing factor and described the new competition as a short-term measure, stating that “further measures must and will follow”.

Stoke City report £60.8 million pre-tax profit following ownership transfer

Stoke City have reported a pre-tax profit of £60.8 million for the year to 31 May 2025, compared with a £25.7 million loss the previous year, following a change in ownership structure.

The turnaround follows the transfer of outright ownership from bet365 to chairman John Coates in August 2024. Loans worth £90.5 million were waived as part of the restructuring, leaving the Championship club debt free and transferring ownership of the bet365 Stadium and Clayton Wood training complex to the club.

Revenue increased to £35.4 million from £32.2 million, driven in part by higher broadcast income. However, Stoke still recorded an operating loss of £30.9 million, up from £26.3 million, reflecting reduced player sale income and £13 million spent on strengthening the squad.

Infrastructure investment

A £13 million upgrade of the Clayton Wood training facility was completed in February. The club also reported improvements to the bet365 Stadium and the launch of an Elite Girls Academy, and said it is working with the EFL and the Independent Football Regulator on rules to allow “a greater level of sustainable owner investment”.

Stoke, relegated from the Premier League in 2018, are 14th in the Championship, 10 points outside the play-off places.

Santos have agreed a 90-day exclusivity period with US-based investment platform SDC Sports LLC to negotiate a potential takeover tied to the creation of a Sociedade Anónima do Futebol (SAF) - the Brazilian version of a limited company created specifically for football clubs, allowing them to sell shares to investors.

The club do not currently operate as a SAF and remain structured as a member-owned association. Any transaction would therefore require the formal establishment to authorise the transfer of up to 90 per cent of shares in a newly created SAF entity.

According to Gazeta Esportiva, the proposal represents the largest offer made to a Brazilian club when combining the commitment to settle outstanding debts with fresh capital for operations. Santos are understood to have received other approaches but chose to proceed with the US fund citing the scale of the offer and its experience in sport.

Governance change

If a transaction is completed, Santos president Marcelo Teixeira would not be involved in the club’s management.

Operational control would instead fall to Michael Lipman, who has previously advised Liverpool on commercial strategy and held roles connected to Roma, Inter Milan and UEFA, alongside investor Diego Garcia, who has experience with major US asset managers and focuses on long-term strategic investments.
 

Iran World Cup participation in doubt after US conflict escalation

Iran’s participation in this summer’s World Cup in the United States is in doubt following an escalation of conflict involving the tournament co-host, the Iranian football federation has said.

Iran are scheduled to play their three group matches in the US between 15 and 26 June. “What is certain is that after this attack, we cannot be expected to look forward to the World Cup with hope,” federation president Mehdi Taj said.

It is unclear whether Iran would refuse to send their team or whether the US government could prevent their participation in the 48-team tournament, which begins on 11 June.

Possible withdrawal or exclusion

FIFA has said it is monitoring developments, with tournament rules allowing the governing body to replace a withdrawn team at its discretion.

Iran qualified in March as one of eight guaranteed Asian places. The regulations state that FIFA may replace a withdrawn association with another, though they do not specify that any replacement must come from the same continental confederation.
 

Brentford secure new investment through minority shareholders

Brentford have added new minority shareholders, with Lucian Grainge and Prakash Melwani acquiring stakes in the Premier League club’s parent company.

Both will join the board of Best Intentions Analytics Limited, which owns Brentford and Spanish side Merida AD. Majority owner Matthew Benham remains in control, having held the club since 2012.

Existing investors Gary Lubner and Matthew Vaughn have also increased their holdings. The pair secured a reported 10 per cent minority stake last summer, which included an option to raise their share to 15 per cent in February 2026.

Investors’ backgrounds

Grainge has served as chairman and chief executive of Universal Music Group since 2010, while Melwani is a senior managing director at Blackstone Inc. and chairs its international private equity business.

Last month, Brentford reported record revenue of £173.1 million for the 2024/25 financial year, alongside a pre-tax loss of £20 million. They are currently seventh in the Premier League and in contention for European qualification next season.
 

Marseille owner could consider €1 billion sale scenario as Longoria replaced by interim president

Olympique de Marseille owner Frank McCourt would be prepared to consider selling the club if a bid above €1 billion was submitted, according to La Provence. The American bought Marseille for €45 million in 2016 and has consistently maintained that the club are not on the market, but the report suggests an exceptional offer could prompt a reassessment.

McCourt has previously rejected suggestions of a sale, stating in May 2024: “The question of selling OM has become absurd. I have been answering it for eight years. The club is not for sale. I love OM.” La Provence reports that previous approaches fell short.

The claim comes shortly after UEFA’s latest European Club Finance and Investment Landscape report, which revealed a €105 million pre-tax loss for the financial year of 2024/25 for Marseille.

Leadership change

Meanwhile, Marseille confirmed on Saturday that Alban Juster has been appointed chairman of the board on an interim basis, effectively replacing Pablo Longoria who had served as president since February 2021.

The club said Juster, who has been at Marseille for eight years and most recently served as director of finance and compliance, will oversee the board during a transitional period while a new president is identified.
 

Sheffield Wednesday borrowed £3.8 million from Portuguese agent during Chansiri tenure

Sheffield Wednesday borrowed £3.8 million from a Portuguese football agent during Dejphon Chansiri’s time in charge, according to a 61-page administrator’s proposal circulated to creditors and seen by The Star.

The document, prepared by Begbies Traynor following the club’s entry into administration, lists the sum as an unsecured loan. It sits alongside £7.5 million owed to New Avenue Projects and sets out the club’s financial position and the progress of the insolvency process.

The £3.8 million is owed to Luis Miguel Azevedo Povoa Alves, who is recorded by the English Football Association as having acted as lead intermediary in the transfers of Marco Matias in 2015 and Momo Diaby in 2023. The borrowing is understood to have taken place within the last 18 months, before the club were placed into administration.

Further clarification

Under EFL insolvency rules, unsecured creditors would receive 25p in the pound as part of a qualifying exit from administration. Payment at that level is required in order for the club to avoid the risk of a 15-point deduction next season.

The administrators state to The Star that several matters require further clarification and that it would be “prejudicial to comment further at this stage”, with a confidential report submitted to the Department for Business and Trade.

Liverpool have reported a profit after tax of £8 million for the 2024/25 financial year, becoming the first Premier League club to post a profit so far this reporting cycle, with seven clubs having filed accounts.

The title-winning season delivered record revenue of £703 million, the highest of any English club last season and an increase of more than 14 per cent year on year.

Broadcasting income rose by £60 million to £264 million, driven by a place in the round of 16 of the revamped Champions League, compared with a Europa League quarter-final exit in 2023/24.

Matchday revenue increased by roughly 14 per cent to £116 million, while commercial income rose to £323 million from £308 million the previous year.

Costs increase

The Premier League champions’ wage bill increased by 11 per cent to £428 million, while total administrative costs rose to £657 million.

Following the league title, Liverpool spent more than £450 million on new signings last summer. The club are currently competing for a top-five finish in the Premier League to secure Champions League qualification for next season.

 

West Ham post worst loss in history and warn of summer player sales

West Ham United lost £104.2 million before tax in 2024/25, the worst financial result in the club’s history, according to accounts released on Friday.

The loss marks a £161 million swing from the previous season, when West Ham reported a £57.2 million pre-tax profit largely driven by the £100 million sale of Declan Rice to Arsenal in July 2023. A sharp decline in profits from player sales accounted for close to half of the deterioration in the bottom line.

The club forecast a cash shortfall this summer, even before factoring in what directors described as a “severe but plausible scenario” of relegation from the Premier League. West Ham are currently 18th in the table, two points behind 17th-placed Nottingham Forest, with 11 matches remaining.

Liquidity concerns

West Ham stated that “further player trading” will be required during the summer transfer window, regardless of whether they retain their Premier League status. Shareholders are also expected to provide additional funding.

“Under both the base case and severe but plausible case forecasts, mitigating actions are required in order to have sufficient liquidity for the Group to meet its liabilities over the going concern period,” the accounts stated.

 

LaLiga president questions transparency of Real Madrid/UEFA agreement

Javier Tebas has questioned the transparency of the recent agreement between Real Madrid and UEFA to end the European Super League project and related legal disputes.

The LaLiga president said the lack of public detail surrounding the deal was problematic for the wider industry.

“This type of agreement, that is going to affect the entire football industry, is untransparent,” Tebas said at the Financial Times Business of Football Summit.

Last October, the Spanish club said they were seeking “substantial damages” from UEFA over its blocking of the breakaway league.

The agreement, announced two weeks ago in a joint statement, did not set out its terms, stating only that it would “serve to resolve their legal disputes related to the European Super League” and would be “for the good of European club football”, bringing an end to the conflict dating back to 2021.

Governance concerns raised

Tebas argued that a deal of this scale could affect the entire European football ecosystem and criticised what he sees as a lack of openness about its terms.

He said he had no knowledge of what the agreement contains and therefore could not form a view on its substance, adding “This shows that the governance system needs to change.”

 

Rome city government approve €1.5 billion AS Roma stadium project in Pietralata

Rome’s executive body, the city government (Giunta Comunale), has approved a resolution advancing AS Roma’s proposed €1.5 billion stadium project in Pietralata, with the club targeting completion by 2030 in time for Euro 2032.

The decision confirms the technical and economic feasibility plan complies with conditions set out in the May 2023 public interest declaration. Committee votes are scheduled between 2 and 6 March, followed by a final vote by the city council expected between 10 and 12 March.

If approved, a Conference of Services involving regional and institutional bodies will be convened for up to 120 days. Subject to a positive outcome, an urban planning agreement would be signed and construction could begin by March 2027.

Project details

The plan, submitted in December by the Friedkin Group, covers 27 hectares, including around 15 hectares of public green space, squares and pedestrian areas. The stadium would have a capacity of 60,605.

The wider development includes a museum, retail outlets and 21,000 square metres dedicated to hospitality and conference use, with city officials presenting the scheme as a year-round urban regeneration project.

 

Independent Regulator threatens intervention as Premier League and EFL deadlock drags on

The “clock is ticking” for the Premier League and the English Football League (EFL) to resolve their financial stand-off, the chair of the Independent Football Regulator (IFR) has warned.

Speaking at the Financial Times Business of Football Summit, David Kogan said the IFR could intervene if the leagues fail to reach agreement on redistribution, including parachute payments and solidarity payments. Negotiations in 2023 and 2025 were called off without a deal, extending a dispute that dates back to a 2019 agreement.

Kogan described the current situation as a “stasis in finding a new settlement in football”, adding: “Ultimately we can step in and find a solution. We do not want to do that. We want football to find a solution, and we want to find it quickly… The clock is ticking.”

Growing financial gap

EFL chair Rick Parry said he was eager to reach an agreement but warned that the widening financial divide between the divisions required “a fundamental rethink”. In 1992-93, he said, the gap between Premier League and EFL turnover was £11m; it is now £3.4bn, with Premier League revenue having grown 80 times compared with sixfold growth in the EFL.

Parry said Championship clubs were buying “the most expensive lottery ticket on the planet” in pursuit of promotion, citing average operating losses of £17m, combined debt of £1.5bn and wages regularly exceeding 100 per cent of turnover. “For us, parachute payments are a major issue that need to be addressed,” he said.

 

Premier League clubs angered with UEFA release of financial data

Premier League clubs are unhappy with UEFA’s decision to disclose details of their financial results without prior warning, according to The Guardian.

Chelsea’s record pre-tax loss of €407 million for the 2024/25 season featured in UEFA’s European Club Finance and Investment Landscape report, presented by executive director Andrea Traverso at the Financial Times Business of Football Summit on Thursday. The losses of Tottenham Hotspur and Aston Villa were also included.

The newspaper reports that the issue was discussed by Premier League representatives at Friday’s Champions League draw in Nyon, where there was agreement that UEFA had failed to keep clubs informed of its plans to publish the figures.

Chelsea frustrated over lack of notice

Chelsea are not expected to publish their 2024/25 accounts until the end of March and are understood to be frustrated at receiving no warning, leaving them with no time to prepare for questions about the numbers.

While the club do not dispute the €407 million loss, which is based on information supplied to UEFA, they argue the headline figure does not reflect the economic reality. According to The Guardian, club sources say the loss includes non-cash accounting adjustments required under UEFA’s financial sustainability regulations, including one-off transactions related to player contract and asset write-offs, and that Chelsea are operationally profitable.

 

Bayern Munich president calls for abolition of 50+1 rule

Bayern Munich president Herbert Hainer has said he believes Germany’s 50+1 ownership rule should be scrapped, arguing that clubs should decide their own governance structures.

Speaking at the Club Wirtschaftspresse München, Hainer said: “I am firmly convinced that the ‘50+1’ rule should be abolished and each club should be able to decide for itself.”

The 50+1 rule restricts external investors from acquiring more than 49 per cent of a club’s voting rights, ensuring members retain majority control.

Marketing gap with England

Hainer also pointed to the commercial gap between the Bundesliga and the Premier League, saying that “the bottom team in England gets more money than the top team in our league”.

He said German clubs need to broaden their international presence, adding: “Our clubs need to expand their reach to America, Africa, and Asia for things to improve.”

Chelsea recorded a €407 million pre-tax loss in 2024/25, the highest ever by an English club, according to UEFA’s latest European Club Finance and Investment Landscape report.

The deficit is the largest in English football history and second only to Barcelona’s €555 million loss in 2020/21 across Europe.

A source with knowledge of the club’s finances told The Athletic that the loss was largely driven by non-cash accounting adjustments, including player value write-offs and other asset impairments, as well as a €31 million UEFA fine.

The source said the figure did not reflect underlying performance and described the year as a period of financial “tidying up”.

No further sanctions

Despite a rolling three-year UEFA loss of €622 million, Chelsea are not expected to face further sanctions, having agreed last summer to keep the 2024/25 deficit in line with projections submitted to UEFA.

Lyon and Tottenham made the second and third biggest pre-tax losses across the 2024/25 season, with €190 million and €143 million respectively.

UEFA’s report also revealed that European clubs are expected to exceed €30 billion in revenue for the first time.
 

Tebas attacks Al-Khelaifi over alleged conflict of interest in France

LaLiga president Javier Tebas criticizes Paris Saint-Germain president Nasser Al-Khelaifi over what he described as conflicts of interest in French football governance, questioning his multiple leadership roles and influence.

Speaking at the Financial Times Business of Football Summit, Tebas took aim at Al-Khelaifi, who is president of Paris Saint-Germain, heads the European Football Clubs (EFC), and leads the Qatar-based broadcaster beIN Sports.

Tebas argued that French football faces a leadership crisis that has yet to be addressed.

“There’s a clear conflict of interest in France with Nasser Al-Khelaifi, and the problem is not being solved,” he says.

When asked why he thinks nothing is being done in France about it and why there has been little criticism of the situation, Tebas suggested commercial relationships may be a factor.

“It’s difficult to speak against your supplier. If he’s buying the rights from you, you can’t speak publicly against him.”

Multiple roles criticised

Tebas added that Al-Khelaifi’s role at beIN Sports should limit his participation in certain governance settings, arguing that holding interests on both sides of commercial negotiations creates governance concerns.

“He can’t be at certain meetings because of his position at beIN Sports,” he argues.

The Qatari broadcaster has been involved in multiple legal disputes with the French league’s media platform, LFP Media, and earlier this month acquired the French broadcasting rights for the 2026 FIFA World Cup after outbidding the organisation. The move led to Nicolas de Tavernost stepping down as chief executive of LFP Media.
 

Cristiano Ronaldo acquires 25 per cent stake in UD Almeria

Cristiano Ronaldo has acquired a 25 per cent stake in Spanish second-tier side UD Almeria, investing through a subsidiary of his CR7 SA company.

Saudi Media Company led by Mohamed Al-Khereiji completed a full takeover of the club in May, acquiring the LaLiga Hypermotion side from Turki Al-Sheikh. Saudi Media Company operates Mrsool Park, the home stadium of Al Nassr, where Ronaldo has played since December 2022.

The club, who play at the 17,400-capacity Power Horse Stadium, have spent seven seasons in LaLiga since their first promotion in 2007 and were last relegated in 2024, two years after returning to the top flight.

Football’s first billionaire

Cristiano Ronaldo was named football’s first billionaire in October by the Bloomberg Billionaires Index and is reported to earn more than €200 million per year at Al Nassr.

“For a long time, my ambition has been to contribute to football beyond the pitch,” Ronaldo said in a statement. “I look forward to working with the management team to support the club’s next phase of growth.”
 

Premier League to launch direct-to-consumer platform in Singapore

The Premier League is launching a direct-to-consumer (DTC) platform in Singapore through a six-year agreement with Singapore-based telecommunications company StarHub.

Chief executive Richard Masters revealed the move at the FT Business of Football Summit in London.

“For the first time, we're going direct to consumer in Singapore. It's a very long, considered process, carefully chosen,” Masters said.

From next season, the league will sell subscriptions directly to customers via a new platform called Premier League Plus.

“It's initial and it's one market but still this gives the Premier League something it hasn't had before that you can then deploy in the future when you see fit,” he said.

Aiming to build a business

The league said it intends to build a business around the model and assess how it performs.

“If it goes well, it may be replicated, but you don't want to predict further than that at this stage,” Masters said.

One of the most prominent DTC projects in European football is the Ligue 1+ channel, created by the French league last year as the domestic broadcaster of the top division.

However, the revenue scale of that project has been questioned, and it was last week described as a “bad choice” and a “strategic error” by Jean-Pierre Rivère, president of OGC Nice.
 

European football associations fear World Cup participation could result in losses

Several European football associations fear they could lose money by competing at this summer’s World Cup despite FIFA approving a record €620 million prize fund, according to the Guardian. The federations have raised concerns over rising costs, reduced allowances and tax inconsistencies.

Qualified teams will receive €7.7 million plus €1.3 million in preparation funding, unchanged from 2022, but the daily allowance has fallen from €723 to €510. One FA estimated it would receive around €425,000 less if staying for a month at the expanded tournament.

Some federations calculate they will earn significantly less than in Qatar and could post losses if eliminated early, reducing funds normally reinvested domestically.

Tax uncertainty and higher expenses

Tax exemptions have been agreed with Canada and Mexico but not the United States, where state rates vary, potentially affecting teams depending on where they play. Federations have also cited increased travel, a longer schedule and exchange rate pressures as additional costs.

While bonus structures remain the responsibility of each FA, officials argue they cannot reduce player packages agreed for 2022. Some point to possible long-term commercial gains in North America, but concerns over short-term finances persist.

Arsenal have reported a £1.4 million loss for the 2024/25 financial year, a significant reduction from the £17.7 million loss recorded the previous year.

The London club generated record revenue of £691 million, a 12 per cent increase from £616.6 million in 2023/24. The growth was driven primarily by a £45 million rise in commercial revenue to £263.2 million, alongside a £22 million increase in matchday revenue and a £10.5 million uplift in broadcasting income.

Revenue was supported by Arsenal’s run to the Champions League semi-finals, with the club playing 30 home matches across the season.

Rising costs and operating loss

Amortisation remained broadly stable, but wages increased by £19 million to £346.8 million and the club recorded a £15.2 million impairment charge on player registrations. As a result, Arsenal posted an operating loss of close to £65 million, up from £50 million the year before. This loss was offset by an £81 million profit on player sales from the departures of Emile Smith Rowe, Eddie Nketiah and Aaron Ramsdale.

Following Brentford, Brighton, Manchester City and Manchester United, Arsenal have posted the smallest loss among the five Premier League clubs to publish their 2024/25 accounts so far. Despite the improvement, the league’s combined operating loss has now surpassed £375 million.
 

Premier League clubs avoid PSR breaches after women’s team sales

All 20 Premier League clubs complied with Profitability and Sustainability Rules (PSR) for last season, avoiding points deductions, with Everton and Aston Villa aided by selling their women’s teams to related companies, according to The Times.

Clubs submitted their 2024/25 accounts by 31 December and are understood to have remained within the £105 million three-year loss limit. The Premier League allows profits from intra-group asset sales to count towards PSR calculations, unlike UEFA.

Villa are nevertheless set to receive another heavy fine from UEFA for breaching its squad cost rule, which caps spending on wages, transfers and agents at 70 per cent of revenue.

New cost controls

Everton previously received six- and two-point deductions for breaches in 2021/22 and 2022/23 respectively, while Villa were able to register £55 million from the sale of their women’s team to their parent company to support PSR compliance.

The Premier League will introduce new squad cost rules (SCR) next season similar to those of UEFA, with spending on player and agent costs capped at 85 per cent of revenue. As a result, internal asset sales will not assist clubs in meeting SCR compliance.
 

Manchester United report £2.5 million first-half loss as revenue and costs decline

Manchester United have reported a £2.5 million net loss for the first six months of the 2025/26 financial year after revenues fell to £330.7 million, down from £341.8 million in the same period last year.

With operating expenses declining year on year from £382.1 million to £346.3 million, the club announced an operating profit of £32.6 million. That figure includes £48.2 million in profit from player sales, while the underlying operating result remained a £15.7 million loss.

The results reflect continued pressure on revenues following last season’s on-pitch underperformance, with commercial and matchday income both lower year on year. United reiterated revenue guidance of £640 million to £660 million for the full year, below the club-record £666.5 million reported in 2024/25.

Commercial and matchday revenue decrease

Commercial revenue declined by almost £8 million across the first half of the season, while matchday income fell by £2.8 million due to fewer fixtures at Old Trafford following the club’s failure to qualify for European competition and elimination from the Carabao Cup.

In the second quarter of 2025/26, wage costs declined by 9 per cent year on year to £75.1 million. In a statement, chief executive Omar Berrada said the figures showed “the positive financial impact of our off-pitch transformation materialise both in our costs and profitability.”
 

Preferred bidder withdraws from £47.8 million Sheffield Wednesday takeover

Sheffield Wednesday’s proposed takeover has collapsed after the preferred bidder, a consortium led by James Bord, withdrew its £47.8 million offer to buy the club.

Bord and his associates pulled out after concluding the club was worth significantly less than their original bid. A consortium including Bord, Felix Römer and Alsharif Faisal Bin Jamil had been named preferred bidder by administrators Begbies Traynor on Christmas Eve, with the English Football League and the Independent Football Regulator assessing the group under the owners’ and directors’ test.

The joint administrators said the bid was the highest received in the structured sales process and would have enabled a full exit from administration ahead of the 2026/27 season.

Funding secured until end of season

During the exclusivity period, the consortium provided more than £4 million to fund the club’s trading operations, ensuring staff and players were paid on time.

The administrators said that steps taken in January to mitigate the risk of delay or non-completion mean Sheffield Wednesday have sufficient funding to trade through to the end of the current season.
 

Mercury13 co-founder Victoire Cogevina departs ownership group

Mercury13 have announced that co-founder and co-chief executive Victoire Cogevina Reynal has stepped down, with the women’s football multi-club ownership group starting the process of recruiting a new chief executive.

The group said a formal search is underway and that it will update on the appointment in due course. Control of the MCO will rest with majority owner Avenue Sports and its board of directors.

The ownership vehicle entered women’s football in March 2024 through the purchase of Como Women. Backed by capital from The Avenue Sports Fund, it expanded into England in September 2025 with the acquisition of a majority stake in Bristol City Women.

Expansion strategy remains

Founded in 2023, Mercury13 set out plans to invest $100 million in women’s clubs across Europe and Latin America and are understood to be targeting representation in each of Europe’s four leading domestic leagues.

Investors in the group include Giorgio Chiellini, Juan Mata, Eniola Aluko, Luis Vicente and Martin Broughton.