The Premier League has recommended that Everton are given a 12-point deduction over the club’s alleged breach of profit and sustainability rules, The Daily Telegraph has reported.

Everton’s case is currently being heard by an independent commission after they recorded losses of £304 million over a three-year period, well over the permitted amount of £105 million set out by the Premier League.

Though the final decision will be made by the commission, The Telegraph understands that the Premier League is seeking a points deduction as punishment if the Merseyside club are found guilty.

Everton are facing a number of potential other sanctions, including a fine and/or a transfer embargo, but the recommended punishment by the Premier League is understood to be significant.

Everton have stressed they have complied with the rules and insist they will “robustly defend” their position, arguing that exemptions, including those related to the coronavirus crisis, will clear them of any wrongdoing.

Verdict expected later this week

According to The Daily Mail, a verdict on Everton's case is expected later this week after the disciplinary hearing into the alleged breaches started in secret.

A 12-point deduction would put Everton in grave danger of relegation. The club are currently in 16th place, three points off the relegation zone.

 

AC Milan owner RedBird injects €40 million into club for new stadium

AC Milan owner RedBird Capital Partners has reportedly injected €40 million into the club to support the construction of its new 70,000-seat stadium as plans for the venue continue to develop.

According to an internal document seen by Calcio e Finanza, the objective of the capital increase, which has been provided by ACM Bidco BV, the Dutch holding company being used by RedBird, is to "cover the expenses and investments related to the new stadium project and strengthen the capital of the [club]."

Last month, AC Milan completed the first formal step in receiving approval of its plans as it presented to the San Donato Milanese town council an urban development proposal for the ‘San Francesco’ area, including a major regeneration project and new transport links.

At the end of the club’s shareholders' meeting held earlier this week, AC Milan president Paolo Scaroni said: "We are moving forward in San Donato, studying all the financing hypotheses and working on it. Until the variant is approved, there will be no need for additional expenditure beyond the €40 million of expenditure of the preliminary project."

Stadium due to open by 2029

Last month it was reported that AC Milan have chosen American architecture firm Manica to design the new stadium, which is due to open in 2028 or 2029. The ground is expected to have two tiers rather than the three levels available around most of the San Siro.

The new venue will feature a club store and a 300 square metre museum, while two giant screens, the biggest in Italy, will be placed inside the stadium. There will also be a vast square outside the main entrance for fans to gather before and after matches.

 

Newcastle ‘threaten AC Milan with multi-million pound lawsuit’ as Sandro Tonali faces 10-month ban

Newcastle United have reportedly threatened AC Milan with a multi-million pound lawsuit as midfielder Sandro Tonali prepares to be hit with a lengthy ban from the sport.

Tonali, signed by the Tyneside club for £52 million from Milan this summer, is set to be given a 10-month suspension for illegal betting on football, which will rule him out for the remainder of the season.

Corriere dello Sport has reported that Newcastle are now seriously considering filing a lawsuit against Milan, having been left angry with the Italian giants for selling them a player that is now set to be unavailable for the majority of the season.

Corriere dello Sport also claimed that Tonali's £7 million-a-year salary will be suspended by Newcastle, although the club are yet to confirm this.

Italian media have also reported that Tonali admitted to betting on his own teams to win matches, and his agent recently claimed the 23-year-old is a gambling addict.

Tonali’s lawyers seek plea bargain

Tonali’s expected suspension will rule him out until the first few weeks of next season, meaning he will miss the 2024 European Championship, should Italy qualify.

Tonali’s lawyers have met with federal prosecutors in Italy this week, as well as the Italian Football Federation (FIGC), to negotiate a plea bargain. It is understood that is now close to a conclusion and the 23-year-old will be allowed to train with his Newcastle team-mates in England during the worldwide ban.

It is thought Tonali will have an additional eight-month suspended sentence included in his punishment, in which time he will receive therapy for his gambling addiction and will take part in anti-gambling initiatives.

 

Negreira case: Last five FC Barcelona presidents meet to agree “unified position”

FC Barcelona have revealed that the last five presidents of the club – Joan Laporta, Josep Maria Bartomeu, Sandro Rosell, Enric Reyna and Joan Gaspart – have met to agree a “unified position” following fresh developments in the Negreira case over the past week.

In a statement released on Wednesday, Barcelona said Laporta and the former presidents had “an informal dinner together” on Tuesday evening.

The club said the meeting took place “in order to consolidate and settle a unified position against the attacks and slander that have been attempting to unsettle life at the club, and which have intensified of late.”

Barcelona added: “Current president Joan Laporta accepted the proposition made by Joan Gaspart at last Saturday's General Assembly of Delegate Members, as a means to consolidate an unbreakable stance and forge cohesion among the club's membership.

“Over dinner, the five gentlemen analysed the current situation at FC Barcelona and reached a consensus on certain issues, the overarching aim being to support the club's best interests, especially with regard to affairs related to the incessant attacks on FC Barcelona throughout its history, and most especially of all in recent times.”

Laporta faces bribery charge

Last week, current president Joan Laporta was charged with suspected bribery over the payments made by Barcelona to the former vice-president of the Spanish FA’s refereeing committee, José María Enríquez Negreira.

The bribery charge relates to Laporta's first spell as Barça president, from 2003 to 2010, after the judge overseeing the case ruled the latter years of that tenure should not be time-barred.

The Negreira case was initially brought after prosecutors filed a complaint back in March over payments of more than €7.3 million over 17 years to firms owned by Negreira, allegedly for referees to act in favour of Barcelona. Along with the club itself, Negreira has denied any wrongdoing.

 

Sampdoria owners Radrizzani and Manfredi continue search for new investors to support plans for club

Sampdoria owners Andrea Radrizzani and Matteo Manfredi are reported to be continuing their search for new investors to support the Italian club on and off the pitch.

When the new owners completed their takeover back in May, they admitted they were looking for a partner to provide additional support, both financially and from a sporting perspective.

According to Tuttosport, that search remains ongoing despite there being no shortage of requests for information from investors across the world, especially Asia.

Potential investors from Singapore and Indonesia, as well as London, are said to have met Radrizzani and Manfredi at the club’s stadium and attended matches.

Reedtz brothers could broker meetings

Present in the stands at Sampdoria on Sunday were the Danish brothers Alexander and Christoffer Reedtz, founders of Football Radar, a London-based company that specialises in the analysis and study of sports betting.

In 2019, the two brothers led a group that took over EFL League 2 club Notts County. The pair are not considered to be possible future partners at Sampdoria, but it is understood their friendship with Manfredi could see them act as intermediaries for future meetings between the Sampdoria ownership and investors from Northern Europe.

SRJ Sports Investments, the new vehicle set up by Saudi Arabia’s Public Investment Fund (PIF) to further expand the country’s presence in sport, has appointed former Australian Professional Leagues (APL) boss Danny Townsend as its new CEO.

SRJ said Townsend will lead its “strategic direction” and play an “important role in driving the organisation’s growth in the local and global sports investment sector”.

Townsend’s mooted departure from his role at the APL, which owns and runs the A-Leagues, was confirmed last week. Before taking the APL top job he was CEO at Sydney FC (2017-2022) and managing director at Nielsen Sport (2016-2017).

Professional Fighters League investment

SRJ has been established to accelerate the growth of the sports sector in Saudi Arabia and the wider Middle East and North Africa (MENA) region, with a focus on technology, media, programming, IP rights and the commercialisation of venues.

In August, the vehicle made its first investment in the Professional Fighters League (PFL). The $100 million-plus minority investment will help launch two new PFL endeavours next year: a PFL league for the MENA region and the company’s ‘Super Fight’ pay-per-view arm.

Los Angeles FC consider buying Grasshopper Club Zurich

The Chinese owners of Grasshopper Club Zurich are in early-stage talks to sell the Swiss Super League team to MLS club Los Angeles FC, according to Bloomberg.

A source told the newswire that a deal isn’t guaranteed, and that since LAFC has shown interest, the owners of Grasshopper have tried to attract rival bidders. Jenny Wang, the wife of billionaire Fosun International founder Guo Guangchang, first put the Swiss team up for sale in April.

LAFC, currently in second place in the MLS western conference, earlier this year launched a joint venture with Bayern Munich to develop talent, and in April invested in Austria’s FC Wacker Innsbruck.

LAFC is owned by Brandon Beck, Larry Berg and Bennett Rosenthal. Beck is co-founder of Riot Games. Berg is a senior partner at 26 North, while Rosenthal is a co-founder of Ares Management Corp.

Other owners include Peter Guber, CEO of Mandalay Entertainment Group and co-executive chairman of the Golden State Warriors. The actor Will Ferrell also has a stake.

Average crowds of under 6,000

Grasshopper Club Zurich, one of Switzerland’s oldest football teams, was founded in 1886. It currently ranks 9th in the country’s Super League, averaging crowds of under 6,000 at a stadium it shares with FC Zurich. The team has won the Swiss Championship 27 times, most recently in 2003.

Plans to build a new stadium in the city of Zurich have been complicated by the UBS takeover of Credit Suisse, originally the project’s lead financier and adviser.

Bologna losses ease to €16.3 million for 2022/23

Bologna have posted a loss of €16.3 million for the year ending 30th June 2023, after suffering a deficit of €46.7 million the previous year.

The result was achieved due to an increase in both operating revenues and capital gains from player transfers. Regular income reached €82.8 million, up from €65.2 million in 2021/22, with commercial revenues rising by €5 million to €17.9 million.

In a statement, the Serie A club said: “For the first time after three years characterised by the pandemic, the full opening of stadiums has been allowed, thus allowing the growth of revenues from ticketing and hospitality.”

Income from capital gains saw an even bigger increase, climbing to €34.5 million, compared with €15.2 million the previous year. The club said that “positive effects of the recovery in turnover in the industry were … felt in market values, which returned to pre-pandemic volumes.”

Wage bill remains €69 million

As for costs, Bologna’s wage bill remained unchanged at approximately €69 million, while other operating expenses were broadly in line with the previous year.

Commenting on the overall result for the year, the club said: “The loss, already covered by the shareholder with the capital payments made during the year for approximately €19 million, represents a further investment in the technical growth of the team and the consequent enhancement of the corporate brand.”

Schalke 04 post €9.3 million profit for H1 2023

Schalke 04 have reported a profit of €9.3 million for the first six months of the 2023 financial year, running from 1st January to 30th June 2023, after suffering a €19.9 million loss in the same period the previous year. It is the first time since 2018 the club have posted positive figures.

The German club were relegated from the Bundesliga last season on their return to the top-flight and have made a poor start to the current season, lying third from bottom in Bundesliga 2.

Turnover in the first half of 2023 reached €81.7 million, up from €55.9 million in the first six months of 2022. Schalke said the increase was due to their top-flight status, in particular the far higher income from media rights.

The club also pointed to increased matchday revenues from playing in the Bundesliga, as well as several large events held at the VELTINS-Arena following the lifting of all Covid restrictions.

The accounts also show that Schalke reduced their overall liabilities from €180.1 million as at 31st December 2022 to €165.1 million. Financial liabilities also fell, from €139.8 million to €126.5 million. The club has forecast a seven-figure profit for the whole of 2023.

“Painful setback”

Christina Rühl-Hamers, board member for finance at Schalke, said: “These half-year figures reflect just how important top-flight status is for Schalke. That is why we set out with a budget of around €40 million for the first team in the hope of achieving survival.

“Despite those conditions and a solid second half of the season, we sadly weren’t able to make that happen. It’s a painful setback that carries financial consequences.”

H.I.G. Capital weighs sale of sports media rights manager Sportfive

US-based investment firm H.I.G. Capital is considering a sale of Sportfive, three years after taking full control of the international sports marketing agency, according to a report from Reuters.

H.I.G. is said to have hired global financial services firm Citi to explore a sale of the business now the company is performing well, with the Miami-based firm keen to capitalise on its success.

A source said deliberations are at an early stage and a sale could happen next year unless markets deteriorate further.

Headquartered in Hamburg, Germany, Sportfive manages events, media rights, brands and sponsorship sales across sports including football, handball, Olympics events, esports and American football, and boasts a network of 1,200 experts across 15 countries.

The company handles media rights for high-profile football events including the United Soccer League, the organiser of the second and third-tier North American men’s competitions.

German clubs among clients

Other Sportfive football clients include German clubs Borussia Dortmund, Hertha Berlin, VFB Stuttgart, Augsburg, Eintracht Frankfurt and Bayer Leverkusen, as well as French side Lyon.

H.I.G.’s ownership of Sportfive dates back to January 2020 when it took a 75.1 per cent stake in what was then the sports marketing arm of French media and retail group Lagardere. The buyout group took full control of the company in 2021.

AC Milan have reported a profit of €6.1 million for the year ending 30th June 2023 – the first surplus achieved by the club since 2006 and a significant improvement on the €66 million loss suffered in 2021/22.

In a statement summarising the results, Milan said the small profit was earned due to a 36 per cent increase in total revenues to €404.5 million, a club record figure and up from €297.6 million the previous year.

Broadcast income reached €174.9 million, compared with €133.1 million in 2021/22, thanks largely to the club’s run to the Champions League semi-finals, where they lost to rivals Inter Milan.

There were also sharp increases in commercial revenues, which amounted to €127.3 million, up from €82.9 million in 2021/22, and matchday income, which climbed to €72.8 million, compared with €32.5 million the previous year.

Income generated by capital gains from player transfers was just €200,000, compared with almost €5.6 million in 2021/22.

Total costs for 2022/23 amounted to €389.6 million, up from €352.6 million in 2021/22. The wage bill increased slightly, reaching €161.9 million, compared with €159.6 million in 2021/22, while depreciation and amortisation costs were lower at €62.8 million, down from €66 million the previous year.

“New important chapter of evolution”

AC Milan were acquired by the American investment firm RedBird Capital Partners last August. Commenting on the 2022/23 results, club chairman Paolo Scaroni said: “This marks an important step in our club's history with a return to net profit after 17 years.

“We are heading towards a new important chapter of evolution in the development of our club, supported and made possible by Gerry Cardinale's strategic vision, the expertise of RedBird, the competence and determination of the entire management team led by our CEO Giorgio Furlani, and the talent of our teams, who will continue to thrill and excite our fans."

 

DAZN and Sky agree €4.5 billion deal to keep Serie A domestic TV rights

DAZN and Sky have retained the rights to show Serie A matches in Italy for the next five seasons after Italian clubs approved bids worth on average €900 million per year on Monday, the league has announced.

After four months of negotiations, the Serie A clubs met in Milan to review the final offers for the five-year cycle running from 2024/25 to 2028/29. Of the 20 clubs, 17 voted in favour of the deal, which is worth at least €4.5 billion.

DAZN will be paying €700 million and Sky €200 million, with the total base fee lower than the €927.5 million per year for the current three-year cycle. DAZN have been paying €840 million per year and Sky €87.5 million under the current agreement.

The deal for the next cycle also includes a revenue-sharing agreement with DAZN. Serie A CEO Luigi De Siervo claimed this could allow the total value of the deal to “far exceed that of the previous three years” and reach the publicly stated target of €1 billion per season.

De Siervo said that according to the most conservative estimates the revenue-sharing arrangement can bring an extra €60 million in additional income per year. Under the agreement, once DAZN earns more than €750 million from subscribers any extra revenues will be split 50-50 between the streaming platform and Serie A.

Napoli owner De Laurentiis: “A total defeat for Italian football”

The only two clubs to vote against the offer for the next five-year cycle were Cagliari and Salernitana, while Napoli abstained. Fourteen ‘yes’ votes were required for the proposal to be accepted.

The decision to accept the offer from DAZN and Sky drew sharp criticism from Napoli owner Aurelio De Laurentiis, who interrupted De Siervo during a press briefing to tell reporters: "It's a total defeat for Italian football. These deals will be the death of Italian football.”

 

Morocco to spend €1.3 billion on stadia for 2030 World Cup

Morocco is to invest €1.3 billion on infrastructure for the 2030 World Cup, with the funds to be used for the renovation of six stadiums and the construction of a new venue in the Casablanca region, according to Spanish media reports.

The African country has won the right to host the tournament jointly with Spain and Portugal, with the opening three matches due to take place in Uruguay, Argentina and Paraguay to mark the World Cup's centenary.

Morocco is planning to modernise its stadiums to enable it to host as many matches as possible, and it is expected that many of the planned renovations will be completed by 2025, when it will host the Africa Cup of Nations. Around €868 million will be allocated to improving current stadia.

Competition with Madrid to host final

The construction of the new stadium in Casablanca is designed to help Morocco bid to win the 2030 World Cup final. As reported by The Times, the venue for the final may become a source of tension, with Morocco pushing hard to host the match despite initial expectations it would be played at Real Madrid’s Bernabéu stadium.

While the original plan had been for Madrid to have the final, sources told The Times that Morocco has made a pitch. Spain, Portugal and Morocco are expected to come up with an agreed position within the next few months but it is FIFA that will make the final decision.

FC Barcelona president Joan Laporta has delivered another staunch defence of the club’s actions in relation to the Negreira case days after he was charged with suspected bribery over the payments made by the Catalan club to the former vice-president of the Spanish FA’s refereeing committee, José María Enríquez Negreira.

During his address to Barça members at their ordinary general assembly, held remotely on Saturday, Laporta said: "However much they speculate, search, dig around and smear, they will not find anything because there is nothing and we have done nothing that we have been accused of as an organisation.

“They cannot prove anything they accuse us of as true. We will win the judicial case and Barça will be acquitted.”

Laporta, whose first spell as Barça president, from 2003 to 2010, has become part of the investigation by Spanish prosecutors into the case, also claimed that the legal battle facing the club stems from a historical connection with Real Madrid among the Spanish authorities.

"There is a sociological support of Real Madrid in the spheres of power that has always existed and it is taking advantage of the Negreira case to sully the image of the club,” he declared.

“This sociological support of Real Madrid is panicking because it is suffering the effect of the best Barça in history once again, that we are winning again and we are once again admired for how we play and loved for what we do."

Club performing “much better” financially

Laporta also claimed that Barça are performing “much better” financially, and stressed that the “economic levers” deployed in 2022/23, when the club won the LaLiga title for the first time since 2018/19, have helped revive the club’s fortunes on the pitch.

Barcelona posted a huge profit of €304 million for 2022/23, up from €98 million in 2021/22. Total revenues were €1.259 billion – a figure which included €600 million from the sale of 25 per cent of the club’s LaLiga media rights and 49 per cent of its digital unit Barça Vision.

For 2023/24 the club have forecast turnover of €859 million and a profit of €11 million, and said that no economic levers will be used during the year.

 

LaLiga plans easing of spending limits to boost clubs’ transfer activity

LaLiga is planning to relax its economic controls, which dictate the amount a club can spend on transfer fees and wages each season, according to Spanish media reports.

It is understood the move is designed to allow Spanish clubs to be more competitive in the transfer market. This summer, LaLiga teams spent the lowest amount on new signings among Europe’s ‘big 5’ leagues, with a total outlay of €453 million. That figure compares with €3.018 billion for Premier League clubs and €767 million for teams in the Bundesliga.

The main change to its economic controls being proposed by LaLiga is to modify the agreement reached with clubs in 2022 to deal with the losses derived from the impact of Covid-19.

Under the original agreement, the debts accrued from the pandemic were to be paid off over the next five years, but this could now be extended to ten years to allow teams to spend more on players.

Capital increases

LaLiga is also said to be considering changes to its spending limits across a number of other areas, including capital increases and amortisation of investment in infrastructure, as well as the registration rules for clubs that exceed any limits.

For the current 2023/24 season, LaLiga has reduced the total spending limit for top-flight clubs by 16 per cent, with the aggregate cap falling to €2.563 billion.

 

A-Leagues could be forced to buy out largest shareholder Silver Lake by 2029

The A-Leagues could be forced to buy out its largest shareholder, the American private equity firm Silver Lake, by 2029 – a move that would require the cash-strapped league to find hundreds of millions of dollars or a new investor to stay afloat, according to a report from The Sydney Morning Herald.

Silver Lake, which has a stake of more than 18 per cent in Manchester City parent the City Football Group, acquired a 33 per cent stake in the A-Leagues for AU$140 million back in 2021, when Australian football was in financial trouble during the Covid-19 pandemic.

An investigation from The Sydney Morning Herald has uncovered some of the generous terms Silver Lake extracted from Australian Professional Leagues (APL), which owns and runs the A-Leagues, as part of that deal.

According to the newspaper, filings with the Australian Securities and Investments Commission reveal the investment gives Silver Lake significant control over the future of professional football in the country and the right to sell its A-Leagues’ stake back to APL at market value from 2029.

Modest increase

Even a modest increase in value of Silver Lake’s AU$140 million investment in the APL would require the league to find hundreds of millions of dollars to buy out the private equity giant.

If the value of the investment increased by 40 per cent over the eight years, for instance, APL would need to pay Silver Lake almost AU$200 million.

Corporate documents seen by The Sydney Morning Herald show that the terms of its investment also give Silver Lake preferential rights over A-Leagues clubs if the APL were to be liquidated, which potentially could be triggered if it could not meet financial obligations.

 

Joel Glazer to have say in Manchester United football matters despite deal with Sir Jim Ratcliffe

Joel Glazer is expected to retain involvement in football matters at Manchester United once Sir Jim Ratcliffe’s purchase of a 25 per cent stake in the club has been ratified, The Times reports.

While Ratcliffe is expected to take charge of the sporting arm of United as part of the agreement, it is understood Glazer will form part of a three-man football committee with the British billionaire and his director of sport at Ineos, Sir Dave Brailsford.

According to the newspaper, the make-up of that committee means the power will ultimately be with Ratcliffe and the former British Cycling boss, who remains the team principal at Ineos Grenadiers.

However, sources told the Times that it was “ludicrous” to think the Glazers would surrender all control when they retain the majority stake in the club. Joel currently operates, alongside his brother Avram, as the co-chairman at United.

Agreement still being finalised

Ratcliffe’s £1.3 billion deal for 25 per cent of the club was due to be ratified at a United board meeting last Thursday but the finer details of the agreement are said to be still in the process of being finalised.

Media reports indicate it could be another two or three weeks before Ratcliffe’s purchase is presented to the Premier League for approval. That process, along with meeting New York Stock Exchange requirements, could take a further eight weeks.

Steve Parish, the chairman of Crystal Palace, has confirmed that Premier League clubs are discussing the introduction of strict wage limits for the first time as part of efforts to maintain competitive balance, Off The Pitch reporter Jonathan Dyson writes.

Speaking yesterday at the Leaders in Sport conference in London, Parish said that UEFA’s new squad cost rule, which limits spending on wages, transfers and agent fees to 70 per cent of club revenue, “will have some effect, but it does also run the risk of creating a permanence, because if you have 70 per cent of a bigger turnover, you can spend more money.”

Back in June, The Times reported that the Premier League was considering a similar proposal limiting spending to 85 per cent of turnover, as well as a salary cap ‘anchoring’ model that would lead to the amount any team can spend on wages being linked to the amount of TV money paid to the lowest-placed club.

Commenting on the latest discussions among Premier League clubs, Parish said: “There is change afoot. … UEFA squad cost caps are one idea, or maybe something that's a bit more rigid than that, with a hard cap at the top that doesn't take turnover into account, where there's maybe vagaries of how that turnover has come about.”

Impact of multi-club ownership on transfer market

During his panel session at Leaders, Parish also said he has significant concerns about the impact of multi-club ownership on the transfer market across Europe, arguing that signing young talent from the continent is becoming harder for a Premier League club outside of the ‘big six’ as a result.

“You’ve now got large pools of capital that are suddenly in our market to find players,” he said. “And whereas before, the £15-20 million player from Europe that was on the way up – that was a market kind of reserved for challenger Premier League clubs.

“Now you've got a lot of clubs around Europe that are owned by very wealthy owners in other areas, and they're in the market for those players to get them ready and then to move them into their top club.”

The American businessman and Lyon owner John Textor has a 40 per cent shareholding in Crystal Palace through his Eagle Football Holdings investment vehicle. Textor also has a 90 per cent stake in Brazilian club Botafogo, and 80 per cent stake in Belgian team RWD Molenbeek.

Parish said there are also “a huge amount of benefits” to a multi-club strategy, before adding: “So we need to find the right balance. We need to have an open debate about it.”

 

FC Barcelona forecast €11 million profit for 2023/24 “without levers”

FC Barcelona have forecast a profit of €11 million for the 2023/24 financial year following the huge surplus of €304 million the club posted for 2022/23, up from €98 million in 2021/22.

The Catalan club projected that turnover for 2023/24 will drop to €859 million, down from €1.259 billion in 2022/23 – a figure which included €600 million from the sale of 25 per cent of the club’s LaLiga media rights and 49 per cent of its digital unit Barça Vision.

In a statement, Barça said the revenues forecast for the next financial year “do not include any extraordinary input, meaning that they are solely made up of the ordinary income from the calendar year.”

FC Barcelona’s economic vice president Eduard Romeu commented: "We are returning to ordinary current income. That means without extraordinary operations, without levers, or sales."

Temporary move from Camp Nou

Barça said turnover will also drop in 2023/24 due to the temporary move to the Lluis Companys while the renovation work on Camp Nou is taking place.

The club said a profit will still be achieved “thanks to an additional effort in the commercial area, a major cutback in ordinary expenditure and a very significant reduction in salaries paid to the professional sports teams.”

Barcelona have projected commercial income of €378 million in 2023/24, up from €351 million in 2022/23, "thanks to the Barça brand, which continues to push the club towards a high degree of global interest."

 

European Super League CEO Bernd Reichart in fresh attack on UEFA ahead of ECJ ruling

Bernd Reichart, the CEO of A22 Sports Management, the company behind the European Super League, has reignited the war of words with UEFA with a fresh attack on the European governing body over its running of the game and its response to the proposed new competition, Off The Pitch reporter Jonathan Dyson writes.

During a speech that concluded the Leaders in Sport conference in London yesterday, Reichart insisted that a number of clubs across Europe are supportive of A22’s plans, unveiled back in February, for a multi-division format featuring between 60 and 80 teams based on sporting performance with no permanent members. However, he did not name any of the clubs he claims are behind the proposals.

The German media executive spoke confidently about the upcoming ruling from the European Court of Justice (ECJ) 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 the original botched launch in April 2021.

“Last November, we began a broad and open dialogue on the future of European club football,” Reichart said. “Since then, we have spoken to dozens and dozens of football clubs and other football stakeholders.

“Now, the vast majority of them follow the assessment that the very foundation of European football is under threat, and that the football ecosystem in Europe is more and more unsustainable.

“The catalyst for the necessary change will come from the resolution of the European Court of Justice. The Court will decide … on whether the fundamental values and freedoms of Europe will also be applied and be enforced within European football.”

“Unusual governance”

Reichart added: “To understand what major change that could be, one must understand how really unusual the governance of European football works.

“European club football is in the hands of one single Swiss private organisation residing on the shores of Lake Geneva. And they are a regulator. They are a sanctioning body. They are market gatekeeper and they are a dominant commercial operator, all together in a multibillion euro industry, with several 100,000 jobs, and that's absolutely unseen in any other economic activity.

“At the same time, all entrepreneurial risks solely reside on the shoulders of the football clubs. … UEFA, on the other hand, is managing an economic activity where they have no risks, no costs, only revenues. And actually no competitor. That sounds astonishing doesn't it.”

Reichart noted that within UEFA’s current 20-strong executive committee, only two members are club representatives. “Beyond this clubs have no ability to think freely, to act freely, or let alone organise or govern themselves on a European level in the very same manner as they do domestically,” he claimed.

“In almost all European countries, domestic leagues are run independently by the clubs. But UEFA statutes prohibit this best practice on a European level. This construct is not only incompatible with the fundamental freedom and values of the European Union or Europe, it's also against common sense.”

 

English FA CEO Mark Bullingham claims FA Cup will be “even stronger” amid talks over domestic calendar from 2024/25

Mark Bullingham, CEO of the English FA, has insisted that the FA Cup, the organisation’s flagship competition, has a bright future as discussions continue about a potential shake-up of domestic football in the country, Off The Pitch reporter Jonathan Dyson writes.

Back in July, it was reported that the FA could effectively cede control of the FA Cup if it accepted a proposal from the Premier League to sell overseas media rights for the trophy for ten years from 2024/25.

Also under discussion were said to be the scrapping of replays entirely – they have already been dropped from the fifth round onwards – as well as playing other games on the same weekend as the FA Cup final.

Speaking yesterday at the Leaders in Sport conference in London, Bullingham described suggestions that the FA could give up control of the competition and other speculation about its future as “absolute nonsense.”

Noting that the FA Cup delivers between 60 and 70 per cent of the FA’s annual revenues, he said: “It’s incredibly important to us and of course we will keep running it and growing it. … We’ve seen the competition go from strength to strength over the last few years.”

Discussions with Premier League and EFL

Bullingham said he was confident that the FA Cup would be “even stronger” once the discussions between the Premier League and English Football League (EFL) about the domestic calendar and other issues are concluded.

“We’ve got a scenario with the calendar post-2024 where there are more UEFA games coming in and we need to find space for them,” he said. “We’ve had really productive conversations with the Premier League and EFL on what the future calendar can look like.

“We’re starting from the point of view of how do we make sure that all three of our competitions are still really strong. And I think we’re getting to a really good place on that.”

He added: “We’re not quite finalised but I’m really confident that the FA Cup post-2024 will be even stronger than it is now – great for fans, great for broadcasters and we’ll be in a good place.”

Fresh concerns have emerged about the planned takeover of Everton by 777 Partners after it was reported the amount the American investment firm has loaned the Merseyside club has risen to £40 million.

The loan was initially reported as £20 million but according to The Times the figure has almost doubled, and is being used as working capital for wage costs that Everton’s income cannot cover. The loan to Everton by 777 can be converted to equity if the takeover is approved.

The revelation came as The New York Times reported that 777 has not provided audited financial statements to the Financial Conduct Authority (FCA), which it must do for the takeover to be approved.

Insiders at Everton and 777 insist the takeover remains on track for the end of the year, but the FCA and the Premier League will want guarantees about the company’s finances before approving it.

Standard Liège questions

The FCA and Premier League will also ask 777 to provide proof of funds and the source of those funds. The Miami-based firm also faced similar questions during its takeover of the Belgian club Standard Liège last year.

According to The New York Times, 777 told the Belgian football federation’s licensing committee that it could not provide the firm’s most recently audited accounts but the committee agreed on a compromise, with the alternative being withdrawing a licence for one of the country’s most historic clubs.

 

Serie A clubs to suffer financial blow as tax law to be tightened from 2024

Serie A clubs are set to suffer a major financial blow after it emerged that the Italian government is planning to remove sports men and women from the tax reliefs provided by the Growth Decree, a law that applies to workers who move residence to Italy.

The regulation allows for the taxation on the wages of workers who relocate to Italy to be lower than on the wages of domestic workers, and has allowed Italian clubs to reduce the tax on salaries for certain players by around 50 per cent.

According to La Gazzetta dello Sport, Italy’s government has decided that the law will no longer apply to football players and other athletes from 2024 as part of a strict tightening on the tax reliefs provided for by the Decree.

While the restrictions on the use of the Decree will come into effect from 1st January next year, La Gazzetta reported that it will also have an impact on some of the signings made by clubs this summer from 1st July.

Both Milan clubs to be impacted but Lukaku a special case

Among the clubs set to be affected following signings this summer include Inter Milan, who bought Marcus Thuram and Benjamin Pavard, and AC Milan, whose new signings included Ruben Loftus-Cheek, Tijjani Reijnders, Christian Pulisic and Samuel Chukwueze.

Other clubs due to be impacted include Juventus (Timothy Weah), Napoli (Jesper Lindstrøm, Natan and Jens Cajuste), Lazio (Taty Castellanos, Daichi Kamada and Matteo Guendouzi), and Roma (Houssem Aouar and Evan Ndicka).

Romelu Lukaku, however, is set to be a special case. Because the Belgian striker, currently on loan at Roma from Chelsea, had already benefited from the Decree when he played on loan at Inter Milan last season, it is understood that he is destined to keep the reliefs in his contract.

 

Negreira case: Laporta charged with suspected bribery as investigation extends into first spell as president

The Negreira case involving FC Barcelona has taken a dramatic new turn after the club’s president Joan Laporta was reportedly charged with suspected bribery over the payments made by the Catalan giants to the former vice-president of the Spanish FA’s refereeing committee, José María Enríquez Negreira.

According to Spanish media, the charges relate to Laporta's first spell as Barça president, from 2003 to 2010, after the judge overseeing the case ruled the latter years of that tenure should not be time-barred.

Laporta, who returned as Barcelona chief in 2021, was not initially named as a defendant when charges for alleged bribery were filed against the club last month. Former presidents Josep María Bartomeu and Sandro Rosell, as well as Negreira and his son, Javier Enríquez Romero, were listed among the accused.

However, Joaquín Aguirre, the judge in charge of the case, ruled on Wednesday that Laporta and his board of directors should be added to the probe, from the time the payments were made, as it is a case of continued bribery.

This change to the investigation means it can cover the 10-year period prior to the last payment made to Negreira, in 2018, therefore encompassing the final two years of Laporta's first tenure.

Payments of more than €7.3 million over 17 years

The Negreira case was initially brought after prosecutors filed a complaint back in March over payments of more than €7.3 million over 17 years to firms owned by Negreira, allegedly for referees to act in favour of Barcelona. Along with the club itself, Negreira has denied any wrongdoing.

Barcelona were originally charged with alleged corruption in sport, corruption in business, false administration and the falsification of commercial documents. The bribery charges were added in September after judge Aguirre said Negreira "exercised public functions" as vice-president of the refereeing committee, equating him to a civil servant.

 

Saudi sports vice minister compares Saudi Pro League spending with early years of English Premier League

A senior figure at Saudi Arabia’s Ministry of Sport has compared the heavy transfer spending of the Saudi Pro League with that of the English Premier League in the 1990s, claiming the SPL is a “disruptor” just as the EPL was when it was established, Off The Pitch reporter Jonathan Dyson writes.

Speaking yesterday at the Leaders in Sport conference in London, Bader Alkadi, vice minister at the Saudi Arabian Ministry of Sport, said: “Are we disruptors? Yes. But are we doing it with the intention of improving the system overall? I think definitely yes.

“And that's a cycle that happened earlier. I think the Premier League in the 1990s … I was here in London and I experienced that firsthand. Definitely it was great and was better for the people and for the football itself and the industry.”

Asked whether the Premier League and other top European leagues should be concerned about the growth of the SPL, he added: “We're here to grow and to play with them and to succeed together and ensure that we get Saudi to the place where it deserves to be.”

Vice minister makes further light of sportswashing question

Alkadi provided an overview of the vision for sport in Saudi Arabia, centred around mass participation, the development of elite athletes, the hosting of major events, and sport’s contribution to the country’s GDP.

He was also quizzed about the extent to which the plans revolve around sportswashing. The Crown Prince of Saudi Arabia, Mohammed bin Salman, told Fox News last month that he would “continue doing sportswashing” due to its impact on the economy there and did not care what others thought of that.

Alkadi was asked on stage at Leaders in Sport: “Some say it's all about sportswashing? What do you say?”. In response, he said: “That would have been a difficult question before the Crown Prince answered it a few weeks ago.” Amid laughter from the audience and himself, he added: “It's not difficult any more.”

The Qatari group bidding for Manchester United was prepared to commit over £6.5 billion to the takeover and have been left “disappointed and angry” by the Glazers' rejection of their offer, according to a report from The Daily Mail.

British billionaire businessman Sir Jim Ratcliffe is reported to be close to acquiring a 25 per cent stake in United after the bid led by Sheikh Jassim bin Hamad Al Thani withdrew from the process to buy the club.

The latest talks between Sheikh Jassim and the Old Trafford club reportedly broke down last week. The Qatari banker’s offer was understood to have been the only bid for 100 per cent of United.

It emerged that Ratcliffe's offer for a minority stake was more appealing to the Glazer family, and that while Sheikh Jassim and his group offered to clear the debts and pay cash for 100 per cent of the club, their offer fell short of the Glazers' £6 billion asking price.

It was previously reported the Qataris tabled a £5.5 billion offer, with a further £1 billion to be invested into modernising Old Trafford and new signings. The Dail Mail reporter Mike Keegan told the It's All Kicking Off podcast that the Qataris have been left “very disappointed and angered” by developments.

“The Qataris set aside about $8 billion [£6.57 billion] for the United project,” he said. “That money is there and ready to go, burning a hole in their pockets. [...] From what I am led to believe, they are very, very disappointed and angered at how this has played out.”

Ineos to keep Tottenham deal

Meanwhile, The Daily Telegraph has reported that Ineos will retain its prominent partnership at Tottenham Hotspur despite Ratcliffe closing in on a 25 per cent stake at Premier League rivals Manchester United.

The latest multi-year sponsorship agreement between Spurs and the petrochemicals firm was announced weeks after United’s “strategic review” began last November, when the Glazers indicated it could be interested in selling the club.

Since then, Ineos Grenadier 4x4 branding has featured prominently at the Tottenham Hotspur Stadium, including on dugout seat headrests, while Spurs players have also featured in corporate videos promoting Grenadier vehicles.

However, sources have told The Telegraph that as Ratcliffe readies himself to potentially shake hands on a deal with the Glazers, there are no plans to tear up the Spurs agreement.

 

Chelsea plans to redevelop Stamford Bridge given major boost with deal to buy nearby homes

Chelsea have been given a significant boost in their plans to redevelop Stamford Bridge after approval was granted to sell a nearby site of homes of military veterans to the club in a deal reported by The Daily Mail to be worth £80 million.

The West London club’s redevelopment plans, estimated to cost £2 billion, were given the green light in July after a deal was agreed for the site where around 100 military veterans and their war widows live next to Stamford Bridge.

However, the veterans were furious at the prospect of being forced out of their homes, and had reportedly applied for an injunction in a bid to stop the Stoll Charity trustees, who run the block of flats, from selling the site to Chelsea.

Stoll have now confirmed that the agreement to sell the land to the Blues has been approved.

Option of leaving Stamford Bridge still on the table

Meanwhile, The Daily Telegraph has reported that Chelsea are still looking into the possibility of moving away from Stamford Bridge, despite the club receiving confirmation that their purchase of the site next to the current ground will go ahead.

CEO Chris Jurasek is believed to be particularly interested in further exploring the idea of Chelsea leaving their traditional home. This month he announced the appointment of a new chief operating officer, Jason Gannon, who worked as managing director of SoFi Stadium in California.

No final decision has been made by co-owners Behdad Eghbali and Todd Boehly, and as well as staying at Stamford Bridge and rebuilding the current ground, the option of moving to a new site and building a new stadium is said to remain open.

 

Italy’s minister of sport calls for deep reform to resolve betting crisis: Fagioli handed 7-months ban

Andrea Abodi, the Italian minister of sport, has called for radical action across Italian football to resolve the betting crisis that has gripped the game over recent days.

More than 40 players are suspected of being involved in the scandal, with Newcastle United midfielder Tonali, Aston Villa winger Zaniolo and Juventus midfielder Nicolo Fagioli among the first names released in the investigation being carried out by Italian authorities.

On Tuesday night Fagioli was banned from all footballing activity following the investigation by the Turin Public Prosecutor’s office into unauthorised betting on illegal websites.

All three players have had their phones and devices confiscated. The ANSA news agency has reported that the authorities suspect Zaniolo was part of a gambling syndicate and actively involved in both placing bets and disseminating information. Through his lawyer, Zaniolo has stated that he does indeed engage in online gambling, primarily focusing on poker.

The exact level of involvement of those still to be revealed and whether they are in the sights of investigators for specifically placing bets is not yet clear.

Reform needed

Speaking on the Italian radio station Radio 24, Abodi said deep reform was needed, centred around player education, and that calls from parliament for the resignation of Italian Football Federation (FIGC) president Gabriele Gravina were a “distraction”.

“We must concentrate on tackling the problem,” he said. “The FIGC for its part has held and is holding training courses for all the boys called up to the national teams. Then there are the responsibilities of the leagues, clubs and individuals.

“I believe it is important to manage the dressing room, to have a relationship with the players capable of understanding uncomfortable situations. So before talking about the responsibilities of the Federation, which is undoubtedly responsible for the system, there are many other stages before”.

When asked about what sort of punishments players should face if found guilty of contravening betting rules, he added: “I don’t believe in exemplary ones, but in the right ones. … I think that the secrecy of the investigation has its value and must be respected.”

 

New York City FC takes big step to approval of $780 million stadium project

MLS team New York City FC have taken a major step closer to having their own stadium after the planning application for a site in Queens moved into the final stages of the process.

NYCFC, part of the City Football Group, is intending to build a 25,000-seat football-specific stadium on 23 acres of formerly-contaminated land at Willets Point.

The ground will be part of a wider project that includes 2,500 units of affordable housing, a 650-seat new public school, 250-bed hotel, and open space for the newly created community.

Having been through a consultancy and review process with local stakeholders and residents, the project has now entered the Uniform Land Use Review Procedure (ULURP) approval process, which is designed to take no longer than seven months.

New stadium could open for 2027 MLS season

Assuming that there are no problems, the $780 million project could be completed in time for NYCFC to play in their new stadium for the 2027 MLS season.

Work has already begun on the site to allow construction of the first 1,100 affordable homes, which have already received public approval, to begin by the end of the year. An additional 1,400 additional all-affordable housing units are a part of the Phase 2 project.

NYFC are already based in Queens, playing home games at Citi Field, the baseball stadium located in Flushing Meadows-Corona Park, which is the home of MLB team New York Mets.

Everton’s current owner Farhad Moshiri and Josh Wander, co-founder of the club’s prospective new owner 777 Partners, have once again expressed their confidence about the proposed takeover amid ongoing concerns about the planned buyout.

According to a report from Sky Sports News, the Miami-based investment firm has already supported the Merseyside club with up to £65 million in funding.

Speaking to Sky, Moshiri reiterated his belief that the US group is the right choice to acquire the Premier League club.

"The more time that I have spent with the 777 team, the more my confidence increases that we have found the right people to take the club forward in the modern era,” he said.

"They are highly professional and deliver exactly when they say they will, and I look forward to them achieving all their regulatory approvals and proceeding to completion on the timetable we set."

Criticism from Hertha Berlin and Standard Liege fans

777’s proposed takeover is awaiting approval from the Premier League, the English FA and the Financial Conduct Authority, a process which is expected to take until the end of the year to complete.

777 has said it wants to respect that process, and that it wouldn't be appropriate to comment in detail until that has been completed.

When contacted by Sky Sports News, the firm’s co-founder Josh Wander said, for those reasons, he did not want to talk about the Everton deal.

However, on the recent criticism from fans at Hertha Berlin and Standard Liege, both owned by 777, and other negative headlines, he said: "We're humble enough to acknowledge that we don't always get everything right the first time and we have learned a lot over the past few years.

"At the same time, I would challenge anyone to say we have not improved the sporting and financial performance of every club we've invested in, and done so in a fairly short period of time."

 

Manchester United takeover: Ratcliffe wants to expand Old Trafford capacity to 90,000

Ineos will explore how to expand a rebuilt Old Trafford into a 90,000-seat stadium if the chemical firm’s bid to buy a 25 per cent stake in Manchester United, led by its owner Sir Jim Ratcliffe, is successful, The Times has reported.

According to the newspaper, a need to upgrade and potentially expand the club’s stadium is understood to have been a significant part of negotiations over the offer for a minority stake.

The 74,310-capacity ground requires urgent modernisation, and Ineos’s involvement is expected to accelerate those plans, with funds set aside.

The revelation has come after Ratcliffe moved into pole position to strike a deal with United following Sheikh Jassim bin Hamad Al Thani’s decision to withdraw from the process to buy the club.

Under his proposed co-ownership deal, it is understood that Ratcliffe would take control of footballing operations in an attempt to remove the Glazers from the firing line, and the British billionaire businessman is hoping the agreement would be the first stage of an eventual buyout.

United board to vote on Ratcliffe bid on Thursday

According to The Daily Mail, United’s 12-strong board will decide whether or not to accept Ratcliffe's offer at a meeting this Thursday.

The voting rules laid out in United's articles of association say only a majority of votes is required from the board to green light Ratcliffe's investment. In the event of a tie, the co-chairmen, Joel and Avram Glazer, will have the casting vote.

 

FC Porto post €47.6 million loss for 2022/23

FC Porto have reported a loss of €47.6 million for the year ending 30th June 2023 after earning a profit of €20.8 million the previous year.

In a statement, the club noted that its latest financial result was strongly affected by the €60 million transfer of midfielder Otávio to Saudi Pro League club Al-Nassr taking place after the end of the financial year on 22nd August. In 2022/23, Porto earned €23.5 million from player sales, compared with €122 million in 2021/22.

The overall loss came despite turnover recovering to pre-pandemic levels, reaching €166 million, up from €143.8 million in 2021/22 – a 15 per cent increase. Key to this was Porto's run to the last 16 of the Champions League, generating UEFA competition revenue of €61.9 million, up from €46.9 million the previous season, when the club was knocked out at the group stage.

The other major revenue streams also grew, with commercial income reaching €27 million (€25.9 million in 2021/22), matchday income €10.8 million (€8.8 million), and merchandise sales €9 million (€7.9 million). Income from the sale of media rights in Portugal, where they are still sold individually, stayed the same at €42.6 million.

Wage bill reaches €95.4 million

As for expenses, Porto’s wage bill reached €95.4 million, up from €82.6 million in 2021/22 – a rise of 15 per cent. However, amortisation costs for player signings remained stable at €35 million, up just 3 per cent.

Porto president Jorge Nuno Pinto da Costa acknowledged the financial result for 2022/23 "is not positive", but stressed that "there are contexts that must be taken into account and, above all, that an effort must always be made to reconcile financial needs with sporting interests in the best possible way".

 

LFP launches domestic TV rights auction with €825 million per year target

The LFP has kicked off the tender process for the next cycle of its domestic broadcast rights, with the French league targeting €825 million per year for the five-year period running from 2024/25 to 2028/29, according to a report from L’Equipe.

The newspaper has revealed that five lots will be up for grabs. Lot 1, the premium package, features three matches per gameweek – the top two picks and pick number 4, to be shown live also by another broadcaster – and has a value of €530 million.

Lot 2 – the rest of the matches, plus pick number 4, and picks 1 and 2 to be shown on delay – is priced at €270 million, while the other three packages consisting of magazine shows are valued at a combined cost of €25 million.

Yesterday, interested parties presented their qualitative offerings – covering editorial coverage, promotion, marketing and anti-piracy – as well as their financial guarantees to the LFP’s law firm Clifford Chance. Today, the broadcasters in the running are permitted to bid for one or more lots.

Concerns over Canal+ decision not to bid

The LFP is aiming to improve on the current €624 million per year it receives for its domestic rights from Amazon Prime (which has seven games a week, including the most important fixtures), Canal+ (two games a week) and Free (which shows near-instant highlights).

Concerns have been raised about the outcome of the tender process after Canal+ said it will not participate in the bidding race for the first time in its history. Organisations understood to be bidding include DAZN, beIN Sports and Apple.

British billionaire businessman Sir Jim Ratcliffe is reported to be close to acquiring a 25 per cent stake in Manchester United after Sheikh Jassim bin Hamad Al Thani withdrew from the process to buy the club.

According to the BBC, the latest talks between Sheikh Jassim and the Old Trafford club broke down last week. The Qatari banker’s bid of more than £5 billion was understood to have been the only offer for 100 per cent of United.

It has been widely reported that the club’s board is now set to vote on selling a minority stake to Ratcliffe, with his offer expected to be ratified this week, and it is thought the petrochemicals mogul is increasingly confident of securing what he hopes will be the first stage of an eventual buyout. However, there have been some suggestions there could be further delays before a deal is reached.

Control of footballing operations

The Daily Telegraph reported that under his proposed co-ownership deal, Ratcliffe would take control of footballing operations in an attempt to remove the Glazers from the firing line.

The newspaper understands that under terms close to being agreed by key parties, the American family would remain at the club but take back seats amid efforts to calm the mood among fans.

It is believed that a clause handing Ratcliffe control of sporting matters goes some way to explaining why the Ineos owner is willing to pay an estimated £1.35 billion, a significant premium on market valuations, for just a quarter stake.

Sheikh Jassim withdrawal “face-saving”

Meanwhile, The Independent revealed that Sheikh Jassim’s withdrawal has been interpreted as “face-saving”, as the ultimately underwhelming Qatari bid had been tactically outmanoeuvred by Ratcliffe.

It is understood that Avram and Joel Glazer would ultimately never agree on a full sale now – preventing the unanimity required – which led the Ineos bid to pursue alternative options.

 

Crystal Palace chairman Steve Parish calls for independent regulator for European football

Steve Parish, the chairman of English Premier League club Crystal Palace, has called for the introduction of an independent regulator for European football to address the widening financial inequality among clubs.

Speaking at last week’s meeting of the Union of European Clubs (UEC) in Brussels, Parish aired fresh concerns over UEFA’s joint role as both the organiser of competitions and regulator of the game in Europe.

“UEFA have allowed themselves to be influenced by a group of clubs that they think will get the biggest media payment,” said Parish.

“You need a separation of the people who run the game and those who organise the game. We have moved away from that. A regulator should have the best interests of the game at heart.”

He added: “We are disenfranchised from the debate, none of us have a say in what goes on in European and global football. We almost have no influence.”

Palace not yet a UEC member

Crystal Palace were among a few English clubs in attendance in Brussels, and Parish was also at the launch event of the UEC in April, where he emphasised that clubs needed “a different voice”.

However, the chairman of the South London club said it has not yet become a member of the UEC. The group 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).

 

Ligue 1 tells American broadcasters it will hold “meaningful” games in US

Ligue 1 has told potential American broadcast partners that it will play “meaningful” games in the US as part of efforts to boost the value of its media rights in the country.

As reported by the US-based Sports Business Journal, the league plans to have its teams compete for trophies such as the Trophe des Champions – played at the start of each season between the previous campaign’s Ligue 1 champions and Coupe de France winners – on American soil as a way to make its rights package more attractive to US broadcasters.

“We are going to be working with our future broadcast partner very closely in terms of bringing meaningful games to the US,” said Ben Morel, CEO of LFP Media, which controls all commercial activities for the French league.

“They can’t just be exhibition games”

Morel joined LFP Media six months ago after a five-year stint as CEO of Six Nations Rugby and a two-decade career with the NBA.

“I’ve had a lot of history in my previous jobs of doing a lot of international games, and I know that what is important is the meaningfulness of them,” he said.

“They can’t just be exhibition games. They have to be games that matter. We want to do this as a long-term play, not just as one-off, nice little exhibitions.”

 

Qatar World Cup construction workers sue US firm for labour trafficking

Dozens of Filipino workers who helped build stadia for the 2022 World Cup in Qatar have taken legal action against a US construction firm, Reuters reports.

The workers filed a lawsuit last Thursday claiming Jacobs Solutions Inc subjected them to dangerous and inhumane conditions.

In a complaint filed in federal court in Denver, Colorado, the nearly 40 plaintiffs said Jacobs and several subsidiaries that oversaw the construction projects forced workers to live in cramped, dirty barracks and work up to 72 hours straight in blistering heat without food and water.

The workers also said they were not paid all of their wages and had their passports confiscated, barring them from finding new jobs or returning home to the Philippines.

Human rights abuses

The plaintiffs claim Jacobs knew or should have known about human rights abuses in Qatar and chose to knowingly exploit workers.

Jacobs and its subsidiaries are accused of violating a US law that prohibits trafficked or forced labour even when the alleged conduct occurs outside the US. The plaintiffs also accused Jacobs of negligence and unjust enrichment, among other claims. They are seeking unspecified damages.

Reuters said that Jacobs, which is based in Dallas, Texas, did not immediately respond to a request for comment.

Reading have denied that a takeover of the club has been agreed following media reports indicating the British businessman and former Formula One team backer William Storey was poised to acquire the troubled EFL League One team.

On Wednesday evening, The Daily Telegraph reported that Reading were set to complete a £50 million sale to Storey, with the newspaper claiming that terms on the deal were broadly agreed earlier in the day following negotiations with current owner Dai Yongge.

According to the report, Storey, who has recently failed with takeover bids for Sunderland and Coventry City, had pledged to clear club debt in a deal which included the stadium and the state-of-the-art Bearwood Park training ground.

It was reported that the businessman had bought the club outright, albeit having sourced some of the funding from wealthy backers, and would now be subject to the EFL’s Owners’ and Directors’ Test (OADT).

However, in a statement released on Thursday afternoon, Reading denied that a sale of the club had been agreed.

“Reading Football Club would like to clarify that the process of the sale of the club is ongoing and, contrary to reports, there is currently no agreement in place with any party,” the club said.

“Several parties have approached the club in recent weeks with declarations of interest in purchasing the club. All approaches are being assessed on their own merits to find the most suitable buyer to ensure a healthy future of the club and, at this stage, no single individual or entity has exclusivity in this process.”

Fan group details concerns

In 2019, Storey was the title sponsor of the Haas F1 team through his drink brand Rich Energy, though the relationship proved acrimonious and short-lived, with Storey leaving the sport before the following season.

As reported by The Athletic, Sell Before We Dai, a fan-led protest group against the current Reading owner, released a statement detailing their concerns over a potential takeover led by Storey.

“To say we have our reservations about William Storey is an understatement. He has zero experience in football, his foray into FI ended acrimoniously, and his previous bids, including this one, have been characterised as attention seeking,” Nick Houlton, the group’s spokesperson, said.

“It’s over to the EFL. We cannot rebound from one bad owner to another. We cannot go from the frying pan and into the fire. We cannot be let down again.”
 

Liverpool confirm Anfield Road upper tier will not open this year after fresh delays

Liverpool have been dealt another setback in the redevelopment of the Anfield Road stand after announcing that the upper tier will not open until next year.

As reported by The Guardian, the £80 million project to expand Anfield’s capacity to 61,000 has suffered a series of problems. The scheduled opening for the first home game of the season was delayed and then the main contractor, Buckingham Group, went into administration.

Buckingham’s replacement, Rayner Rowen Construction, started work on 5th September after a three-week pause in the build and Liverpool had hoped the Anfield Road stand would be completed by October.

The latest delay has been caused by information about the project going missing as a result of the change in contractors and the need to give Rayner Rowen more time on-site to complete the project.

Tickets for the upper tier have been sold for the visit of Everton on 21st October and for future matches. However, the upper tier will remain closed until 2024 and there is no revised date on when it will open.

CEO Billy Hogan apologises to fans

Liverpool’s CEO, Billy Hogan, said: “We are really disappointed to have to deliver this news and really sorry for all those supporters who are impacted. You can see the games coming up on the fixture list, not just the derby but as you run through it to the end of the calendar year.

“And we know every match at Anfield is important and we know that it means so much to our supporters. It means ultimately we won’t be in a position to be able to provide seats for those fans who have purchased those tickets in the upper tier.”

Hogan said that Liverpool’s ticketing staff will be in contact with supporters affected by the delay in the coming days, and added that it would be premature for the club to give a new opening date at present.

SC Freiburg post €16.1 million profit for 2022/23 after earning record turnover

SC Freiburg have reported a €16.1 million profit for the year ending 30th June 2023, compared with a surplus of €2 million the previous year, after earning a record turnover of €175.3 million, up from €114.9 million in 2021/22.

The German club ended the 2022/23 season in fifth place in the Bundesliga and reached the last 16 of the Europa League.

Outlining the key factors behind the financial results, Oliver Leki, board member for finance, organisation and marketing, said: "Thanks to a very successful season, in which we fully benefited for the first time from the improved marketing opportunities and the higher spectator capacity of the new Europa-Park Stadium, we were able to significantly improve economically in all areas.

“For the club, it was the most financially successful year in its history. At the same time, it is both motivation and confirmation for us to consistently continue on the path of sustainable management we have chosen."

Equity rises to €111.1 million

Due to the club’s financial performance during the year, SC Freiburg also significantly increased its equity, which reached €111.1 million as at 30th June 2023, up from €95 million at the end of 2021/22. Total assets amounted to €149.1 million.