Everton’s prospective new owner, 777 Partners, has come under fresh scrutiny after a top British-based sports agency cut ties with the American investment firm, The Daily Mail has reported.

777 is currently awaiting Premier League approval to take over the Merseyside club having agreed terms with owner Farhad Moshiri in September.

However, the Miami-based group has suffered a fresh blow after one of its leading UK partners, the sports marketing powerhouse Redstrike, pulled the plug on a joint venture they founded only last year.

777 first linked up with Redstrike in 2021 over a proposal to fund a Formula One race in east London. A year later, they entered into a joint venture and formed a new company, Redstrike Partners Limited, with 777 co-founder Josh Wander listed on Companies House as the sole shareholder.

It is understood that Redstrike has now written to a number of football stakeholders to make it be known it is no longer linked with 777.

While the letter does not divulge the details of the fall-out, it states it is cutting ties with “immediate effect” and adds: “Redstrike cites a breakdown of the business relationship between it and 777.”

Takeover process

The development casts a further cloud over 777’s business dealings at a critical time of the Everton takeover process, with the Premier League still scrutinising the source and sufficiency of its funds.

The league has indicated to the firm that it is still some way from completing its due diligence. The complexity of 777’s finances and corporate structure, with over 60 companies involved, is understood to be proving challenging for the Premier League to assess.

 

Manchester United set for quiet January transfer window amid concerns over Premier League’s financial rules

Manchester United football director John Murtough has warned that the club will be limiting their spending in the January transfer window as they seek to ensure they do not breach the Premier League’s financial rules.

Murtough told a United fans’ forum that they will not be busy in the January window, with the focus on trimming their squad rather than adding to it.

Everton were docked 10 points last month for breaching the Premier League’s profit and sustainability rules. While United are within the limits, two summers of spending totalling £412 million have left them with little room for manoeuvre and heightened the importance of sales next year.

“We’ve seen this season that financial fair play rules have real teeth, so we have to be very careful to ensure that we remain compliant, and we will,” Murtough said.

“But that means being really disciplined on spending going forward, with a balance between incomings and outgoings. Looking ahead to the January transfer window, we are not expecting it to be particularly busy. Our recruitment strategy remains focused on summer windows.”

“Careful consideration for the club”

United’s legal counsel Patrick Stewart, who has taken over as interim CEO following Richard Arnold’s departure, added: “All Premier League clubs are taking FFP seriously, and it remains a careful consideration for the club that we remain compliant.”

Ensuring United’s spending is in line with the Premier League’s rules is an added headache for incoming minority shareholder Sir Jim Ratcliffe, who is still hoping his intended £1.3 billion purchase of a 25 per cent stake in the club could be announced this week.

 

FIGC president Gravina: Italian clubs who join European Super League will be excluded from domestic game

Gabriele Gravina, the president of the Italian Football Federation (FIGC), has given a fresh warning to clubs ahead of the European Court of Justice (ECJ)’s ruling over the European Super League, due this morning.

The ECJ will deliver its final binding verdict over whether UEFA and FIFA abused a dominant position under European competition law by blocking the creation of the Super League and seeking to sanction the clubs involved following its original botched launch back in April 2021.

Speaking yesterday at the FIGC’s latest meeting of its Federal Council, Gravina said any Italian club that signs up to a breakaway European Super League will effectively be excluded from domestic football in the country.

“Let's wait for tomorrow,” he said. “We as a federation are totally against [the European Super League]. There is a rule that those who join that would leave the federal football system. We cannot prevent anyone from joining, but the choice, if it does happen, must be very clear.”

“Brand of Italian football”

Gravina added: “It is unthinkable to play two or three championships within a series of organisations. We are already fighting internally about the dates available for the [Italian league].

“You can imagine what would happen if we added another competition. I have to safeguard the brand of Italian football and you have to know what you're up against."

 

Salernitana post €29.6 million loss for 2022/23 as costs spiral

Salernitana have reported a loss of €29.6 million for the year ending June 30th, 2023 after suffering a deficit of €16.8 million the previous year.

The result came despite total revenues, including transfer income, rising to €70.9 million, up from €46.2 million the previous year. Costs also saw a marked increase, reaching €106.4 million, compared with €66.1 million in 2021/22.

The Salerno-based team, who are currently bottom of Serie A, finished in 15th place in the Italian top-flight last season after ending the previous campaign in 17th place and narrowly avoided relegation.

The club was taken over by Italian businessman Danilo Iervolino in January 2022 after earning promotion back to Serie A for the first time in 23 years in May 2021.

In 2022/23, broadcast income reached €33.8 million, compared with €28.3 million the previous year, while matchday revenues rose to €8.5 million, up from €6.8 million in 2021/22, and commercial income amounted to €7.6 million, compared with €5.7 million the previous year.

Player trading generated €14.6 million, of which €14.4 million came from capital gains, largely due to the sale of Brazilian defensive midfielder to Atalanta. In 2021/22, the club earned just €0.7 million from player sales, of which €0.2 million was from capital gains.

Wage bill rises to €63.7 million

Salernitana’s wage bill reached €63.7 million in 2022/23, compared with €44.6 million the previous year, with the outlay on player salaries rising to €44.5 million, up from €25 million.

Salary expenditure on first-team coaching staff was €5.8 million (€3.5 million in 2021/22), while costs related to player depreciation and amortisation reached €13.8 million (€5.3 million).

 

Player Valuation Update: Bellingham closes in on Vinicius - Man City reaches new heights

The last 2023 revision of the Off The Pitch Player Valuation Tool has landed.

Jude Bellingham, secured by Real Madrid for €103 million, has spectacularly outshone expectations with 22 goal contributions across competitions. His towering €186 million valuation now ranks him as the world's third highest-valued player, trailing just behind Vinicius Jr. (€187 million) and Erling Haaland (€226 million).

This season's other notable ascenders include the youthful prodigies Lamine Yamal, FC Barcelona, at €64 million and PSG's Warren Zaire-Emery at €41 million.

Despite fluctuating on-field performances, Manchester City's squad valuation has hit a staggering new peak in this update, reaching a colossal €1.79 billion. This places them over €350 million ahead of Arsenal, currently ranked second.

Leverkusen second most valuable team

The most remarkable growth in squad value is observed at Bayer Leverkusen, now surpassing Dortmund as the Bundesliga's second most valuable team.

Their €612 million squad valuation owes greatly to Florian Wirtz's impressive €109 million worth, along with the substantial value increases of Jeremie Frimpong and Victor Bonfiface, both crossing the €50 million threshold.

Hopes have risen that the long-awaited deal for car manufacturer Porsche to acquire a 10.8 per cent stake in VfB Stuttgart could be finalised in the coming weeks.

According to Kicker, the deal was due to be discussed at the DFL’s latest Executive Committee meeting yesterday.

The agreement was first unveiled at the end of June, when the Bundesliga club announced a sponsorship package worth up to €100 million with Mercedes-Benz, Porsche and MHP.

However, a key part of the agreement – Porsche’s acquisition of a stake in the club for €41.1 million – was yet to be finalised. The sports car giant was due to complete the investment in two tranches, with the first in the autumn, and the second in early summer 2024.

DFL approval

The deal has been held up by a series of delays, but VfB Stuttgart CEO Alexander Wehrle has said he is now hopeful that it can be completed within the next few weeks.

"We got the go-ahead from the DFL for the first tranche,” he said. “For the second one, we will have to get it from the DFL next year."

Real Madrid appeal over CSD approval of LaLiga TV access requirements upheld by Spanish court

A Spanish court has upheld an appeal from Real Madrid over the new TV access requirements and media rights distribution introduced by LaLiga at the start of this season.

As reported by Marca, the Contentious-Administrative Chamber of the National High Court has upheld the appeal filed by the club against the agreement of the CSD (National Sports Council) in approving the amendments to the regulations related to the broadcasting of LaLiga matches.

In the latest twist in the ongoing legal battle between the two parties, the verdict is being viewed as proof that Los Blancos have the power not to give up their audio-visual rights at their stadium up to two minutes before and after the match.

LaLiga announced that it will appeal the ruling and in a statement said that the “judgement is not final and, as the decision itself acknowledges, carries out an analysis limited to the field of public law.”

The league added: “It does not, therefore, prejudge matters of private law, private associative agreements adopted by the competent bodies of LaLiga or, more generally, the marketing of television broadcasting rights whose regime falls within the competence of the civil courts.”

Request to suspend changes

Back in August, Real Madrid filed a separate complaint with Spain’s national criminal court, Audiencia Nacional, requesting the suspension of the changes introduced by LaLiga.

The club accused the Spanish league and its president Javier Tebas of corporate crimes, including disloyal administration, misappropriation, imposition of abusive agreements and corruption in business.

However, the court rejected the club’s appeal over the issue and upheld a decision made by the Central Court of Instruction in September to dismiss its complaint.

Aston Villa stadium expansion plans on hold due to transport concerns ahead of Euro 2028

Aston Villa’s plans to expand the capacity of their stadium to 50,000 have been put on hold due to concerns over public transport accessibility as well as costs.

Villa’s president of business operations, Chris Heck, told the club’s website that he believes it would be a “bad idea” to pursue plans to expand Villa Park.

The club’s long-term plan had been to increase capacity by 8,000 in time for the venue to be a host ground for Euro 2028. The proposal was to knock down the North Stand over two seasons and complete the renovations the season before Euro 2028, in line with UEFA guidelines.

However, as reported by The Athletic, concerns over transport links required local councils to generate around £30 million to develop nearby railway station, Witton.

UEFA stated it would expect 80 per cent of supporters to travel to Euro 2028 games at Villa Park on public transport. Without redeveloping Witton, this was not anticipated to be feasible.

Heck said: “I became more concerned we were adding too many seats too fast. So I do believe it’s important we took a step back and re-evaluate what’s best. I mention this with transportation and the parking.”

£100 million project

Last April, Villa’s then CEO Christian Purlsow announced plans to rebuild the North Stand and provide a “world-class entertainment venue” known as Villa Live. Costs were roughly projected to be around £100 million.

However, revised plans were since drawn up with inflation taking hold and meaning those initial costs were expected to have increased significantly.

Heck added: “I think it would be a bad idea to tear down one of our stands for two years playing like we are.” He also revealed that new plans will focus on revamping existing space, including the creation of a hospitality and entertainment zone for 3,000 fans.

Villarreal CF return to profit with €3.6 million surplus for 2022/23

Villarreal CF have announced that the club returned to profitability in the year ending 30th June 2023, with a surplus of €3.6 million.

The positive result was the first for the club since before the Covid-19 pandemic. It revealed the profit in a short statement but did not report the total revenues for the year or any other figures.

It is likely that revenues were boosted by player sales – mostly to Premier League clubs – which according to media reports have reached around €140 million since the summer of 2022.

Forecast to break even in 2023/24

Villarreal forecast that the club will break even in 2023/24, with total revenues of €143.7 million and expenses of the same amount.

The club have reached the last 16 of the Europa League this season after reaching the knockout stages of the Europa Conference League in 2022/23.

Reading owner Dai Yongge fined £20,000 for failing to deposit wages

Dai Yongge, the owner of EFL League One club Reading, has been fined £20,000 for failing to deposit funds to cover wages.

The Chinese businessman was charged with misconduct by the EFL in September after not depositing enough money to cover 125 per cent of the club’s projected monthly wage bill.

In a statement, the EFL said it had recommended Dai be banned from all football activity, including ownership and control, for 12 months, but an independent disciplinary commission opted against enforcing it.

The EFL said the commission “felt a disqualification would not achieve the immediate objective of sourcing the required funds for the deposit account.”

However, the commission described Dai's actions as "deliberate misconduct". A further £50,000 fine issued by the commission has been suspended until 12 January, 2024, and that will be triggered if he fails to deposit the required amount in full.

Dai, who is looking to sell the troubled club, is also required to maintain the deposit levels set out by the EFL until at least the end of August 2024.

Ten points deducted this season

The EFL said it did not feel another sporting sanction against Reading was appropriate in this case as they were taking direct action against the owner. The club has already had 10 points deducted this season for financial breaches.

“The League will have no hesitation in bringing further charges against Mr Dai if he fails to comply with the Commission’s directive,” the EFL added.

The Premier League has lodged a formal complaint to FIFA over its failure to consult with leagues and clubs about the new 32-team Club World Cup, according to The Daily Mail.

It was reported over the weekend that FIFA has set aside 15th June to 13th July in 2025 for the inaugural edition of the expanded tournament in the USA, with the final set to take place around a month before the new English top-flight season.

There will be 12 representatives from Europe, with the participation of Chelsea and Manchester City already determined as recent Champions League winners. Teams will play up to seven matches in four weeks.

It is understood the Premier League has signed a letter of complaint sent to FIFA by the World Leagues Forum, which represents 44 of the world’s top domestic leagues, also including LaLiga, Serie A and the Bundesliga.

‘Failing to exercise its responsibilities’

The strongly-worded letter is believed to accuse FIFA of failing to exercise its responsibilities as the world's governing body and to claim that it prioritises its own interests instead by scheduling more matches to generate ever-greater revenue.

In its letter the World Leagues Forum also claims that FIFA is ignoring the best interests of the clubs by overloading the calendar and putting the players' health at risk.

FIFA insists that player welfare has been one of its main considerations in planning the tournament, with all teams guaranteed a minimum of three days' rest between matches.

 

Manchester United face drop of up to £40 million in matchday income after early exit from Europe

Manchester United’s matchday revenue could fall by as much as £40 million for the 2023/24 financial year following their early exits from Europe and the Carabao Cup.

In 2022/23, United played a club record 33 home games in all competitions, which generated their biggest ever matchday income of £136.4 million – an average of more than £4 million per match.

However, as reported by The Independent, United could play as few as 23 times at Old Trafford this season, depending on whether they get any home FA Cup ties – they are away at Wigan in the third round – and will have a maximum of 26 matches at their own ground.

As a result, matchday income may drop to under £100 million this season. In 2021/22, when they had 26 home games, the club’s matchday revenue was £110.5 million.

This season, United played just once on their own turf in the Carabao Cup, losing to Newcastle United 3-0, and three times in the Champions League, where finishing bottom of Group A means they do not even drop into the Europa League.

By contrast, they had six home Europa League matches last season and four each in the Carabao and FA Cups, when they were drawn at Old Trafford in each round.

Lower UEFA broadcast income

Aided by their 33 home matches, United posted record revenues of £648.4 million for 2022/23. They originally forecasted that figure to rise again, to between £650 million and £680 million, for the current year. However, their early exit from the Champions League will also cost them broadcast income from UEFA.

United missed out on an initial £8.2 million, which they would have received if they had reached the last 16, and up to £45 million if they had won the competition. However, because they only took four points in their pool, they only earned around £3 million.

 

Morecambe and owner Jason Whittingham charged by EFL over player payment deposit failure

EFL League Two club Morecambe and owner Jason Whittingham have been charged by the league for failing to adhere to an agreed decision imposed in August after the club failed to pay players on time.

The troubled Lancashire club, who have been up for sale for 15 months, had been given a suspended three-point deduction over the issue.

Whittingham had been told to deposit an amount equal to 125 per cent of Morecambe’s monthly wage bill to cover any future delays. However, in a statement, the EFL said that on 4th September the deposited funds had been used without being re-deposited.

"Mr Whittingham's failure to re-deposit the funds has led to personal charges, while the club has also been charged for failing to meet deposit account requirements," the EFL said.

"The charges will now be considered by an independent disciplinary commission with the outcome to be communicated by the EFL once a decision is reached."

Club looks to speed up search for new owners

Morecambe released a statement in response, saying that the club’s owner Bond Group had instructed "specialist sport lawyers to defend the club's and owner's position" at the commission hearing.

The statement added: "The board remains focused on the priority of ensuring that Morecambe Football Club meets all its obligations, which means working with Bond Group to prevent cashflow issues and doing everything within its powers to expedite the process of finding new ownership as quickly as possible.”

 

Michele Kang expands multi-club group with acquisition of London City Lionesses

American businesswoman Michele Kang has further expanded her multi-club operation with the purchase of London City Lionesses, the only fully independent women’s side in England’s top two professional football divisions.

Kang, who owns the NWSL’s Washington Spirit, also took over the Lyon women’s team, Lyon Féminin, after acquiring a majority stake in the side earlier this year.

London City Lionesses compete in the second-tier Women’s Championship and are the only side in that league or the Women’s Super League (WSL) not attached to a club with a men’s team. Kang takes over from Diane Culligan, who founded the side in 2019.

New governance structure

The acquisition of London City Lionesses follows the announcement late last month that the WSL and Women’s Championship have agreed to proceed with a new governance structure called ‘NewCo’ for the women’s professional game in the country from the 2024/25 season.

Among the goals of the club-owned model and breakaway from the English FA is allowing greater private investment in the women’s game.

Kang said: “The NewCo model is a great example of how women’s sports will be uplifted in England and globally. We need more investment focused solely on the female game so that the resources are uncompromised.”

Aston Villa’s holding company V Sports has entered into an agreement with the American investment company Atairos for it to become a minority partner and help improve its multi-club structure.

In a statement, Villa said the investment from Atairos into V Sports “will primarily be used to fund growth and infrastructure investments, with the aim of creating material and sustainable value for AVFC and the broader V Sports network over time.”

V Sports has had full control of Villa since 2019. In February this year, it agreed a deal to acquire a 46 per cent stake in Portuguese club Vitoria SC. It also has partnerships with teams in Spain, Egypt and Japan.

Villa emphasised that V Sports, which is jointly controlled by Nassef Sawiris and Wes Edens, will continue to own 100 per cent of the Premier League club and remain in control of all club-related decisions.

“Compelling vision”

Sawiris and Edens said: “V Sports is delighted to be partnering with a long-term strategic investor in Atairos who shares our compelling vision for the future of the Club and our passion for football.

“This exciting partnership enhances the Club’s financial footing and strengthens its ability to compete in England and in Europe. V Sports is fully committed to further investment in Aston Villa FC and its men’s and women’s teams and looks forward to its continued growth and success.”

 

Nottingham Forest owner Evangelos Marinakis converts another £11 million of loans into shares

Evangelos Marinakis, the owner of Nottingham Forest, has converted a further £11 million of loans into shares for the club’s 2022/23 financial year.

The move, which reduces Forest’s debt and is said to underline Marinakis’ desire to stay in the Premier League, marks the fourth consecutive year in which the Greek shipping magnate has converted club debt into equity.

In the 2021/22 financial year, the Forest owner converted £41 million worth of loans into shares. That followed a similar conversion of £12 million in 2020/21 and over £20 million in 2019/20.

In a statement, the club said: “The additional financial commitment from the owner further relieves the financial burden on the club and underscores Evangelos Marinakis’ continued dedication to the club's success.

“The move forms part of the club’s financial process for its 2022/23 accounts. Details of the arrangement have been submitted to Companies House.”

Strengthen squad

Forest hope to strengthen their squad again in the January transfer window, but their budget may be influenced by their ability to move players out of the club.

Marinakis oversaw another 13 signings in the summer, taking Forest’s investment in the transfer market to £250 million since their return to the Premier League last season.

 

FIFA Club World Cup set to take place over 29 days in summer of 2025

The first edition of FIFA’s expanded Club World Cup will be spread across 29 days in the summer of 2025 and will finish around a month before the new Premier League season, Sky News has reported.

Sources have told the TV news channel that FIFA has set aside 15th June to 13th July in 2025 for the inaugural edition of the 32-club men's tournament in the USA.

The Club World Cup dates were due to be presented to a FIFA Council meeting yesterday in Jeddah, Saudi Arabia.

It is believed the tournament would follow the end of the European season and the 2nd-10th June slot already set aside for two international matches – potentially 2026 World Cup qualifiers in Europe.

There will be 12 representatives from Europe, with the participation of Chelsea, Real Madrid and Manchester City already determined as recent Champions League winners.

Fresh concerns over player workload

The expansion of the Club World Cup has sparked fresh concerns about an additional workload on players. According to Sky, the global players' union FIFPRO has told FIFA that some players in the 2024/25 season might be required for more than 80 matches for club and country.

That would represent a 10 per cent rise on the current upper limits. It is understood the union also told FIFA that players need a mandatory 28-day off-season break.

WSL targets £20 million for next domestic TV deal – increase of 150 per cent

The English Women’s Super League is to seek an increase of more than 150 per cent in the value of its domestic TV deal when it issues the tender document next month, according to The Daily Mail.

The current joint deal with Sky Sports and the BBC is worth £7.5 million a year and the WSL is said to be targeting around £20 million from the next contract as it looks to capitalise on the explosion of interest driven by the success of England’s Lionesses.

However, the league is understood to be facing a challenge in persuading broadcasters that its product merits such a huge rise.

The WSL is set to follow the Premier League’s example by making more games available for broadcast, but it is believed this is not guaranteed to work because the market for live matches is close to saturation point.

Sky and TNT Sports to bid

Sky remains a big supporter of women’s football and plans to bid, but the broadcaster is not desperate for extra matches as it will show more than 1,000 EFL games per season from next year and at least 215 from the Premier League 12 months later.

TNT Sports also intends to bid, and is supportive of proposals for the WSL to get the Saturday 3pm broadcast slot, a move which would require the partial lifting of UEFA’s Article 48.

The BBC also wants WSL games, but as it is only contributing around £750,000 a year to the existing deal it is unlikely to fund a large increase.

The total fees paid to agents for international transfers this year has risen to a record high of $888 million – up 42.5 per cent on last year’s figure of $623.2 million, according to FIFA’s latest Football Agents in International Transfers Report.

The 2023 total surpasses the previous record, pre-Covid, from 2019 of $654.7 million by more than one third.

The largest amount of agent fees were paid by clubs from England, with a combined total of more than $280 million. Despite not investing in releasing-club agents, Saudi Arabian clubs had the second-biggest spending on engaging-club agents with $86 million.

The number of international transfers with an agent acting on behalf of the player reached a record high in 2023 with a total of 3,353 transfers.

The report added that for the first time clubs in women’s professional football spent more than $1 million on agent fees, with a total outlay of just under $1.4 million. Club agents were present in a record number of 125 transfers, an increase of more than 20 per cent compared to 2022.

Only 32.6 per cent pass new agent exam

The report also covered the new exam introduced this year as part of the FIFA Football Agent Regulations (FFAR). Passing the exam is required in order to receive a FIFA licence.

FIFA said it received 19,973 licensing applications and that 9,207 took the exam across 157 countries – but only 32.6 per cent passed.

Bournemouth owner Foley: Target is Europe in five years and work on new stadium set to begin in 2025

Bill Foley, who this week celebrated a year since taking control of Bournemouth, has said he is confident the club can qualify for Europe within five years and that work on the club’s new stadium is likely to begin in 2025.

In a wide-ranging interview with The Guardian, the American billionaire said Bournemouth should take inspiration from the history-making rise of Brighton, who have played in Europe for the first time this season.

“I want Bournemouth to play in Europe – that’s our goal,” he said. “It’s not going to be easy but I’m confident we can get there. Brighton are a great inspiration, they do a terrific job. I certainly think we can be in Europe within five years.”

Bournemouth – who have risen to 14th in the Premier League with four wins in their last five games – hope to move in to their new training facility next October and to begin work on a new stadium, on the site of their existing training base which is next door to their current ground, the following year.

“I don’t believe we can get the stadium under way until probably 2025,” Foley said. “If we accomplish that then we could be finished by possibly the summer of 2027. That would be perfect and ready for the 2027-28 season. That is probably our goal, our target.”

He added: “The current plan is for it to be 18,500 in capacity, which doesn’t sound that big an increase [the Vitality Stadium’s capacity is just over 11,000], but it is going to have the right hospitality, the right restaurants and it is going to be a major upgrade.”

Hibernian stake

Foley, who owns the NHL side Vegas Golden Knights, also confirmed plans to add to his footballing portfolio by acquiring a stake in the Scottish Premiership side Hibernian, after gaining a licence to create an Auckland-based A-League club.

Foley, who bought the Ligue 1 side Lorient last year, also wants a Belgian club. “That is my goal, to develop these other teams in support of Bournemouth and for Bournemouth to support those other teams,” he said.

Swindon Town and chairman Clem Morfuni charged with breaching EFL rules

Swindon Town and the club's chairman Clem Morfuni have been charged with breaching EFL rules over a transfer of shares.

In a statement, the EFL said the charges relate to a transfer of a 17.1 per cent shareholding to Hollie Kiely of Swinton Reds 20 Ltd in September 2022.

Morfuni has been charged for failing to disclose to the club’s management the transfer of the shareholding. The EFL said this led to Swindon breaching the requirement to disclose to the league details of any shareholder with more than 10 per cent of voting rights and failing to update the official club website with the details for public record.

The statement added: “Confirmation of the share transfer came to light following its publication at Companies House in August 2023, meaning the Club had been in breach of its obligations for the majority of the 2022/23 season.

“No charges have been issued in respect of a transfer of a 5% shareholding because that does not exceed the 10% reporting threshold in EFL Regulations.”

Committed to the club

Morfuni, an Australian businessman, became Swindon’s majority shareholder in July 2021. Last month, he insisted he remained committed to the financially-troubled club and denied he is looking to sell. The team are ninth in League Two, one point away from the play-off places.

Lyon have announced that the club has signed agreements with former president Jean-Michel Aulas for the buyback of shares and the abandonment of legal complaints against his successor as owner, John Textor.

The Ligue 1 club said in a statement that the share purchase agreement, approved by the board of directors, provides for the buyback of "one third of the shares" still held in the club by Aulas' family holding company, Holnest, i.e. 4,826,540 shares at a price of €3 per unit, or about €14.5 million.

The share purchase agreement is in line with the settlement agreement between the parties finalised back in May.

Lyon said they have also signed a new agreement with Holnest and Aulas “to mutually terminate and waive the various proceedings and actions currently pending between the parties.” The club said it believes this will “normalize its relations” with the former president and his company.

The statement added: “The Parties shall make their best efforts for completion of the transfer under the Share Purchase Agreement to occur by 31 December 2023, and in any case at the latest on 16 January 2024 (or at such other date as agreed in writing between the Parties).

“Upon completion of the buyback, Holnest will withdraw from the related legal proceedings.”

Aulas welcomes agreements

In comments reported by L'Équipe, Aulas said: "Thank you to John for reaching out to me to unite our efforts for an OL that needs it but will come back. All legal proceedings have been halted and the initial agreement of 8 May will be respected. My commitment to the FFF and women's football will be total. Thank you.”

Lyon’s announcement came after their 3-0 Ligue 1 win over Toulouse on Sunday, a match that gave Textor and Aulas the opportunity to appear together for the first time in several months.

 

West Brom edge closer to £60 million takeover – owner Lai to choose preferred bidder

West Bromwich Albion are reported to be edging closer towards a sale of the club, with current owner Guochuan Lai set to choose a preferred bidder amid talks over a potential £60 million deal, according to The Daily Telegraph.

Three consortiums – including one from the US and one from Nigeria – are believed to be in advanced discussions over a takeover of the club, who are currently fifth in the EFL Championship.

Lai, the Chinese businessman who has proved to be a controversial and unpopular owner, is under heavy pressure to sell up and is expected to grant exclusivity to the best option within the next 10 days.

West Brom are available for around £30 million, plus the various debts and loans owed which take the overall price closer towards £60 million. It is understood the American group is currently in pole position.

Race against time

West Brom are under pressure to slash costs in the January transfer window. A takeover would offer some protection against a fire sale of players, so the club are facing a race against time to complete a takeover before the end of next month.

Any sale would finally bring Lai’s stormy tenure to an end, after more than seven years. He has come under heavy scrutiny after declining to pay back a £5 million loan which was paid to one of his companies in June 2021.

Premier League clubs have voted to limit the period over which a player’s transfer fee can be spread in their accounts to five years, regardless of the length of their contract, in line with UEFA’s limit set back in June.

In a statement issued yesterday, the Premier League confirmed that teams had voted in favour of the move, although the rule change will not be backdated to include transfers that have already happened or contracts already signed.

“Premier League Shareholders today agreed to amend the rule on amortisation of player registration costs to bring it in line with UEFA’s regulations,” the statement read. “Going forward, a five-year maximum will apply to all new or extended player contracts.”

According to The Athletic, the vote passed with 15 clubs including Chelsea, who had attracted attention for the long contracts of some of their new signings in the past 18 months – in favour, two against and three abstentions.

New transfer debt restriction

The Premier League statement added that teams had also voted in favour of enabling the league’s board to stop a club from registering more players in circumstances where they owe a transfer debt to another Premier League or English Football League (EFL) side until that outstanding payment has been made.

The offending club could also see the outstanding amount deducted from their share of the league’s prize money.

Turkish leagues suspended indefinitely after Ankaragücü president punches referee

The Turkish Football Federation has suspended matches in all the country’s football leagues indefinitely after Ankaragücü president Faruk Koca punched a referee at the end of a Süper Lig match on Monday night.

Koca struck referee Halil Umut Meler in the face following his side’s 1-1 draw with Rizespor in a contentious match after which fans also stormed the pitch.

According to Turkey’s justice ministry, the match official was later kicked as he lay on the ground. A Turkish court ordered the arrest of Koca and also remanded in custody two other suspects over the violence.

The incident, which left Meler hospitalised, came after home side Ankaragücü had conceded a 97th-minute equaliser, ensuring Rizespor would stay four points clear of their hosts after the 1-1 draw.

Meler told investigators that Koca punched him under his eye and he was later kicked “many times in the face and other parts of my body” while on the ground, according to local media. The referee eventually made it to the dressing room with the help of the police.

Powerful reaction in Turkey

The confrontation has triggered a powerful reaction in Turkey. President Recep Tayyip Erdoğan condemned the incident, saying “sport is incompatible with violence” and later offered the referee well-wishes in a phone call.

The most popular Turkish hashtag on X yesterday read “this punch is against all of us”.

The Turkish Football Federation said: “This inhumane and despicable attack has been inflicted on all stakeholders of Turkish football.” It also criticised club presidents, managers, TV commentators and others who “paved the way” for the incident.

Infantino calls on authorities to act

A statement from FIFA president Gianni Infantino read: “There is absolutely no place for violence in football, on or off the field. Events following the Turkish Süper Lig match . . . are totally unacceptable and have no place in our sport or society”.

He added: “Without match officials there is no football. Referees, players, fans and staff have to be safe and secure to enjoy the game, and I call on the relevant authorities to ensure that this is strictly implemented and respected at all levels.”

In a pivotal decision for German football, the top 36 clubs have voted to allow the German Football League (DFL), which oversees the Bundesliga and Bundesliga 2, to negotiate with private equity investors regarding a share of television rights.

The vote saw a narrow victory for proponents of external investment, with 24 clubs voting in favor—just one more than the required two-thirds majority. Ten clubs opposed the move, while two abstained during the secret ballot.

The DFL confirmed in a statement it will be negotiating a deal “in the coming months.”

According to reports, the DFL is looking to sell up to eight percent of shares in a subsidiary that would handle all media rights for a period of 20 years. The deal could be worth between €900 million and €1 billion.

The DFL has received four initial offers from investment firms, according to media reports. Kicker has reported that the offers received by the DFL so far are from Advent, Blackstone, CVC and EQT. Despite also being considered as a potential investment partner, Bridgestone is not believed to be one of the interested parties and has refrained from making an offer.

The DFL's strategy aims to evolve its business model and enhance international marketing for Germany's top two football leagues. This includes plans for launching a streaming platform. While there is a general agreement among clubs on the need to modernize marketing efforts, opinions diverge on whether bringing in an investor is the best way forward.

Fan protests and red lines

This decision marks a significant shift in German football, which has long prided itself on fan involvement and limiting external influence through the "50+1" rule. This rule ensures that clubs retain majority ownership and control over major decisions.

However, fan protests occurred across Bundesliga stadiums the weekend before the vote, reflecting concerns about investor involvement. The fan alliance "Unser Kurve" criticized the rushed nature of the process and called for more transparent and thorough discussions.

Critics worry that investors might indirectly influence league operations despite assurances from DFL managing directors Marc Lenz and Steffen Merkel. They have promised "red lines" that would prevent investors from changing kick-off times, moving matches abroad against club wishes, or introducing play-offs in the Bundesliga without consent.

The DFL maintains that any investor would not have sway over these aspects of league organization, aiming to preserve the traditional values of German football while embracing new financial opportunities.

 

Media: UEFA internal conflict over presidential term extension proposal

According to Mail Sport, UEFA is currently experiencing internal conflict over a proposal that would allow its president, Aleksander Ceferin, to remain in power until 2031. David Gill, the former Manchester United chief executive, is reportedly leading the opposition against this plan.

The amendments to the UEFA Statutes were introduced during a UEFA Executive Committee meeting in Hamburg last week. These changes are designed to enable Ceferin to serve a fourth term, extending beyond the current three-term limit set for presidential and executive office holders.

Ceferin, who was elected as UEFA president in 2016 and has since been re-elected twice, is currently set to leave office in 2027. However, the proposed amendments suggest that any term beginning before July 2017 should not count towards the term limit, potentially allowing Ceferin to stand for election again until 2031.

Gill has voiced strong objections to these amendments, arguing that they are undemocratic and could lead UEFA back to the "bad old days" of football governance, reminiscent of the eras of former FIFA president Sepp Blatter and UEFA counterpart Michel Platini. Both Blatter and Platini were disgraced by scandals involving unauthorized payments.

UEFA statement

The proposed changes have not yet been made public but will be voted on by all 55 UEFA member countries at the Congress in Paris. A two-thirds majority of 28 votes is required for their adoption.

According to the newspaper, several other Executive Committee members have also expressed concerns about the proposals and are expected to lobby national associations for support.

UEFA has responded with a statement: "The Legal Committee proposed a number of changes to the statutes which clarify some existing provisions to ensure that none are applicable retroactively - in line with a basic legal principle," adding that "Both the Governance Committee and the Executive Committee approved the changes which will now be considered by Congress in February.”

Everton’s prospective new owner 777 Partners has indicated that it is not prepared to continue supporting the club with loans unless the takeover deal is completed within the next seven weeks, The Times has reported.

The American investment firm has loaned more than £100 million to the Merseyside club and is hoping to receive approval from the Premier League and the Financial Conduct Authority for its proposed purchase of the club before the end of December.

However, according to The Times, 777 Partners has indicated it is not prepared to continue supporting Everton with loans beyond January. The costs of running the club are about £20 million a month more than the regular income.

The loans are unsecured, meaning that if the takeover fails to go through 777 Partners would be at the end of the queue when it comes to Everton settling their debts, should the club go into administration.

That is seen as a concern if the Premier League refuses to approve the takeover, given that the club are in a poor financial position and there are no other parties seeking to take it over.

“Demonstration of good faith”

Sources close to 777 admitted to The Times that the size of the unsecured loan is a risk but said it is also a demonstration of good faith and commitment to the club.

The New York Times has reported that 777 borrows money from A-Cap, an insurance and investment business, that has provided funding at an interest rate of 20 per cent.

 

Lyon complete debt refinancing for €385 million and ‘first securitisation for a French club’

Lyon have announced the completion of their debt refinancing unveiled last month for a total amount of €385 million.

In a statement, the club confirmed that the deals are for the majority of its debt and that of its subsidiary Olympique Lyonnais SASU, and are based on two separate new financings for the club: a package for a total principal amount of €320 million, amortising over 20 years; and an additional €65 million of financing with a five-year maturity (2028).

Lyon said the €320 million package is structured around a dedicated French securitisation vehicle and marks the completion of the first securitisation of trade receivables for a French football club.

“The securities issued, which are backed by commercial receivables mainly generated by the Groupama Stadium business, were subscribed by leading institutional investors, mainly located in the United States,” it said.

KBRA Europe and DBRS Morningstar respectively awarded Lyon an investment grade rating of BBB+ and BBB, which the club said enabled it to obtain a “remarkable” fixed interest rate of 5.83 per cent a year.

Variable-rate term loan

Lyon said the additional €65 million of financing has come from “internationally renowned international banks in the form of a variable-rate term loan for a total principal amount of €32.5m repayable at maturity and a variable-rate revolving loan for a total principal amount of €32.5m.”

The statement, which was issued on Friday, added: “The implementation of this global refinancing has already enabled OL Groupe and its subsidiary Olympique Lyonnais SASU to repay the outstanding long-term stadium debt, its RCF line (Revolving Credit Facility) and the PGE loans contracted during the COVID period. Other long-term subordinated debt will be also repaid in the next few days.”

Lyon were advised by Goldman Sachs in the refinancing.

 

Union of European Clubs membership rises to 150 through Fair Game partnership

The Union of European Clubs (UEC) has received a significant boost with the addition of 34 new members from England and Wales through a partnership with the Fair Game coalition of clubs.

As reported by The Athletic, the membership of the UEC – which was launched in April to give a voice to non-elite clubs in Europe – has now risen to over 150 clubs with the addition of Fair Game’s members, which include Premier League side Luton Town.

Fair Game, which is comprised of professional clubs at every level of the English pyramid, has become a leading advocate for a fairer distribution of the game’s wealth, stronger governance and a greater focus on financial sustainability.

Dennis Gudasic, UEC co-founder and executive director of Croatia’s Lokomotiva Zagreb, said: “The challenges faced by clubs in English football are similar to the challenges faced by clubs across Europe. The UEC believes clubs of all sizes deserve to be heard and fairly represented in the decision-making processes of European football.”

Membership growth also top of ECA agenda

The UEC is seeking to give a voice to small and medium-sized teams in Europe because of what it perceives as a lack of representation for those clubs in the European Club Association (ECA). News of the UEC’s growth, announced on Friday, came in the same week that the ECA held two days of meetings in Copenhagen, where “membership growth” was also top of its agenda.

The ECA, which is the successor organisation to the old G-14 group of Europe’s most powerful clubs, now has more than 450 members and is aiming for 700 in the coming seasons.

 

Empoli post €3.9 million loss for 2022/23 despite sale of Vicario to Spurs

Empoli suffered a loss of €3.9 million in the year ending June 30th, 2023 despite the sale of goalkeeper Guglielmo Vicario to Tottenham Hotspur.

The result followed a deficit of €3.5 million the previous year. According to documents seen by Calcio e Finanza, total revenues including player sales for 2022/23 reached €81.6 million, up from €70.9 million in 2021/22.

Broadcast income amounted to €32.69 million, with commercial revenues totalling €5.9 million and matchday income €2.8 million. Empoli finished in 14th place in Serie A both last season and in 2021/22.

Player trading brought in €32.85 million, of which €32.65 million came from capital gains. The sale of Vicario to Tottenham generated a transfer fee of €18.5 million, with a capital gain of €12.2 million, while the fee and capital gain for defender Mattia Viti’s move to Nice were both €12.5 million.

Wage bill climbs to €40.9 million

Empoli’s total costs in 2022/23 rose to €82.4 million, up from €74.5 million the previous year. The club’s wage bill climbed to €40.9 million, compared with €36.6 million in 2021/22.

Paris Saint-Germain owner Qatar Sports Investments (QSI) has agreed to sell a minority stake in the club to the American investment group Arctos Partners.

The French champions confirmed the deal in a statement, and said the new shareholder would help drive further growth for the club, including through international expansion into markets such as the US, as well as funding investment in infrastructure such as upgrading its stadium and new training ground.

The terms of the agreement were undisclosed. However, according to The Financial Times, Arctos has agreed to acquire up to 12.5 per cent of PSG in a deal which values the club at more than €4 billion. Talks started more than a year ago.

Shareholdings in multiple sports

Arctos has acquired stakes in teams across multiple sports, including in football, as well as basketball, baseball, hockey and Formula One. The firm has a stake in Liverpool owner Fenway Sports Group, while it acquired a £29.2 million shareholding in Serie A club Atalanta in May 2022.

PSG president Nasser Al-Khelaifi described the deal as an “important milestone” for the club, and said Arctos would bring “strategic expertise, ideas and innovation to our business”.

Eintracht Frankfurt CEO Axel Hellmann backs DFL’s plans for media rights stake sale

Axel Hellmann, the CEO of Eintracht Frankfurt, has expressed his support for the DFL’s plans to sell a stake in the Bundesliga’s media rights business ahead of a crucial vote among Germany’s professional clubs over the proposals.

It was reported earlier this week that the DFL has received four initial offers from investment firms for a stake in the subsidiary. The league is understood to be seeking bids of between €900 million and €1 billion for a maximum stake of 8 per cent. The successful bidder will hold the television, advertising and digital rights to the Bundesliga for 20 years.

The DFL is to hold a vote among the 36 clubs in Germany’s top two divisions over the plans at its general assembly on Monday. A two-thirds majority is required for the process to proceed.

Speaking to Kicker, Hellmann said his club will vote in favour, although he added that he would prefer a bigger potential deal to be on the table.

"Eintracht Frankfurt will approve the application,” he said. “We would have preferred a larger deal, but given that all 36 clubs see the need for investment and the smaller deal seems to be the common denominator based on the current proposal, we support the current move."

Lack of support for previous plans to sell 12.5 per cent stake

Hellmann was joint interim managing director of the DFL together with SC Freiburg chief financial officer Oliver Leki when, back in May, German clubs voted against plans to sell a 12.5 per cent stake in the Bundesliga’s media rights unit in a proposed deal that would have lasted for at least 20 years. The DFL hoped to raise around €2 billion from the deal.