FC Barcelona have sought to defend their actions in relation to the Negreira case once again after fresh developments came to light in Spanish media earlier this week.

In documents seen by the Barcelona-based newspaper El Periódico, the judge set to rule on the case concluded that Joan Laporta made payments to the former vice-president of the Spanish FA’s refereeing committee José María Enríquez Negreira during his first spell as FC Barcelona president (2003-10) – but noted that Laporta cannot be investigated because it was too long ago.

Joaquín Aguirre, the judge overseeing the case, stated that Laporta cannot be charged over the case, and will therefore not be investigated, due to the statute of limitations – the maximum time after an event within which legal proceedings can be initiated – under Spanish law.

Aguirre wrote that, for now, Laporta has not been attributed "the commission of any crime, not for reasons related to the illegality of the acts committed" by him, but "for the application of the rules of criminal prescription".

In the documents seen by El Periódico, the judge also maintained that the court has once again rejected Barça's appeal to present itself as a private prosecutor for unfair administration in the case.

In response to the latest revelations, Barcelona issued a statement on Wednesday evening, which read: “Barça states again that for years it had technical advisory services for refereeing and players and has material proving its existence and reality. …

“Under the direction of President Laporta, payments were always made to the company that, at all times, was in charge of this function, and never to third parties or companies.”

It added: “FC Barcelona wishes to recall that it appeared as a private prosecutor in the procedure opened by the well-known Negreira case in order to defend the entity from a potential crime of unfair administration in the period investigated.

“This personation could have been made at any time during the investigation of the case but the Club preferred to do it from the beginning to position itself before the payment to third parties, given the conviction of the entity of the non-existence of the crime of sports corruption.”

Suspected bribery

Last month it emerged that Barcelona have been placed under formal investigation for suspected bribery as part of the investigation into the Negreira case.

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

UK MPs’ report: Football clubs should be stopped from using crypto tokens for fan engagement

A cross-party committee of UK MPs has said that football clubs should be prevented from selling crypto-based fan tokens as part of engagement with supporters by the incoming regulator for English football.

In a new report, the Culture, Media and Sport Committee (CMS) said: "The unique relationship between clubs and fans means that fan speculation on sport-based cryptoassets carries a real risk of financial harm to fans and reputational harm to clubs.

"We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groups.

"We recommend that any measurement of fan engagement in sports, including in the forthcoming regulation of football, should explicitly exclude the use of fan tokens."

While singling out fan tokens for particular criticism, the group of MPs also strongly criticised NFTs, saying they “have proven to be inherently risky for fans who invest in them”.

The UK government is planning to legislate to introduce a regulator for English football next year.

Socios responds to report

The fan token and cryptocurrency business Socios, which has partnered with a number of football clubs, has responded to the CMS report by defending the service it provides and claiming the report “contains factual errors.”

In a statement, Socios said it “works hard to comply with all applicable regulations and engages with regulators in all the markets in which it operates to stay transparent and shape the crypto assets sector from a regulatory perspective.”

The company added: “Socios.com Fan Tokens deliver rewards and benefits to fans. This is beyond doubt. Any suggestion otherwise is a false assumption, or worse, a willful inaccuracy.

“Last season alone Socios.com gave away more than 24,000 matchday tickets and more than 1,000 items of merchandise and memorabilia to fans who own Fan Tokens and engage with their teams through the Socios.com app.”

Bournemouth owner Bill Foley on course to acquire Auckland A-League expansion franchise

Bournemouth owner Bill Foley is due to be named as the preferred bidder for the Australian Professional Leagues (APL) expansion franchise in Auckland, New Zealand, The Athletic reports.

If successful, the bid would see the American businessman add another club to his football portfolio. Foley is the managing partner of Black Knight Football Club, the group of investors who bought Bournemouth last December and then invested in French side Lorient a month later.

Auckland’s A-Leagues franchise will also not be the first expansion team Foley has acquired, as he brought the NHL to Las Vegas in 2017 when he launched the Vegas Golden Knights.

Foley was a late entrant to the race for the Auckland team, as the early running was made by Marc Mitchell, a New Zealand-based American lawyer and entrepreneur.

Mitchell is a minority investor in Auckland’s New Zealand Breakers, a basketball team that competes in Australia’s National Basketball League.

Foley’s greater financial muscle won the day, though, and Black Knight is still looking for more clubs to fill out its multi-club vision. Belgium, Brazil and Scotland are reported to be among the countries where Foley and co. might invest next.

A-Leagues teams to increase from 12 to 14

The APL announced its plan to add new A-Leagues teams in Auckland and Australian capital Canberra earlier this year, with the two franchises joining the men’s and women’s divisions next year. This would take the number of teams from 12 to 14, with Auckland joining Wellington as New Zealand’s A-Leagues outposts.

A Saudi Arabian state-linked group is seeking to buy a European club "similar in size" to Newcastle United, according to a report from The Independent.

The group is said to have identified LaLiga’s Valencia and Ligue 1’s Olympique Marseille as the top options available at this stage of the process.

At the moment there is no plan to make any purchase through Saudi Arabia’s Public Investment Fund, which already owns Newcastle United and four Saudi Pro League clubs.

However, sources have told The Independent that intermediaries working on behalf of a state-linked entity have been making considerable progress on a purchase.

Huge historical legacy

Clubs such as Valencia and Marseille are viewed as particularly attractive due to their huge historical legacy, alongside recent underperformance, meaning there is scope for immense growth from relatively limited investment.

While Valencia were seen as more attractive than Marseille due to their place in the higher-profile Spanish league, it is understood Peter Lim is reluctant to sell until the club moves into a new stadium.

Newcastle plan to expand St James’ Park could lift capacity up to 65,000

Newcastle United have begun working on plans to expand the capacity of St James’ Park that could make it the second-largest stadium in the country, The Daily Telegraph reports.

The club has already started a feasibility study on how to develop the Gallowgate End and East Stand, and is currently working out what sort of increase will be possible if both stands are extended.

It is estimated the eventual capacity could rise to around 65,000, which would leave only Manchester United’s Old Trafford with a higher figure. At present, Newcastle have the seventh-largest stadium in the Premier League at 52,000 and have fallen behind the likes of West Ham United, Manchester City and Tottenham Hotspur in recent years.

The work at St James’ Park is said to be at an early stage and the club is waiting to hear back from specialist architects about what building work will be possible, as well as how much it will cost. Nothing will be decided until those reports have been completed.

Bowl-shape appearance

Multiple sources have told The Telegraph that every option is being looked at, but the more desirable is to make the East Stand and Gallowgate End similar in size to the Leazes End and Milburn Stand, which will give the stadium more of a bowl-shape appearance.

The proposed building work is complicated by the fact the East Stand has listed buildings directly behind it and there is little chance of being able to demolish Leazes Terrace or any of the Georgian terraced houses that people live in.

UEFA confirm UK and Ireland to host Euro 2028, Italy and Turkey get Euro 2032

UEFA has confirmed that the UK and Ireland will host the 2028 European Championship, while Italy and Turkey will stage the 2032 edition of the tournament.

The hosts for both tournaments were already all but assured ahead of the announcement, after a joint Italy-Turkey bid for Euro 2032 was accepted last week and following Turkey’s withdrawal from the race for Euro 2028.

Turkey’s decision left England, Northern Ireland, Ireland, Scotland and Wales as the sole joint bidders for the 2028 tournament. However, both sets of bids still needed final approval from UEFA's executive committee that convened on Tuesday.

Euro 2028 to feature 10 stadia

Euro 2028 will be the largest major sporting event the UK and Ireland have jointly staged, and will be held in 10 stadia, including Wembley in London, the National Stadium of Wales in Cardiff, Hampden Park in Glasgow, Dublin's Aviva Stadium, and the new Casement Park in Belfast.

They will be joined by the Tottenham Hotspur Stadium, Manchester City’s Etihad Stadium, Everton’s new Bramley-Moore Dock stadium, St James' Park, and Villa Park.

For the 2032 tournament, Italy and Turkey presented 20 stadiums in their bid but UEFA said that list will be narrowed down to five per country by October 2026.

Reading owner Dai Yongge rejects takeover bid from investment group

Reading’s owner Dai Yongge has rejected a takeover bid from Genevra Associates, an investment group based in Luxembourg, The Daily Telegraph reports.

However, Genevra has insisted it wants to rescue the embattled League One club and is standing by its “significant offer”.

Reading are struggling with severe financial problems and have already been docked four points this season for failing to pay their players on time and neglecting to comply with an English Football League order to deposit funds in an account.

The club is also under a transfer embargo for failing to pay their tax bill to HMRC, and fans are staging regular protests against Yongge at home matches.

Genevra Associates, which also has offices in the US, is a hedge fund that recently expressed interest in supplying investment to Manchester United and said their offer to Reading has been turned down.

“Urgent situation”

In a statement sent to The Telegraph, the group said: “We have worked swiftly to put this proposal together, considering the urgent situation at the club.

“Our main goal is to ensure the club’s sustainability, empower the fanbase, and address the point reductions situation. At this time, we’re unable to provide specific details about the offer. We stand by our offer.”

According to The Telegraph, other parties have held discussions with Reading over a possible takeover.

UEFA: Russian U17 team will no longer play in European qualifiers

UEFA has announced that Russia will not play in Under-17 European Championship qualifying matches this month due to a lack of a “technical solution” following opposition to its original plan to allow the team to compete.

Last month, UEFA had announced plans to allow Russia’s under-17 teams to participate in its competitions, and FIFA followed by confirming Russia would also be permitted to compete in the men’s and women’s under-17 World Cups.

Russia’s national teams and clubs had been banned from UEFA and FIFA competitions since the end of February 2022 due to the invasion of Ukraine.

However, as reported by The Athletic, following UEFA’s executive committee meeting on Tuesday, European football’s governing body said that Russian involvement in qualifying matches this month would no longer happen.

“The agenda point was withdrawn as no technical solution to allow Russian teams to play could be found,” UEFA said.

Ukraine opposition

Ukraine’s football association (UAF) had responded to UEFA’s decision to reinstate Russia’s Under-17 sides by saying it would not play in tournaments involving Russian teams and urged other countries to follow suit.

The UAF then wrote to other European associations asking them to boycott matches against Russia’s under-17 teams, calling the partial lifting of the ban a “hazardous and terrifying trend”.

The football associations of England, Poland, Sweden, Denmark and Norway stated they would continue not to compete against Russia.

FC Barcelona have once more found themselves in the spotlight for reasons beyond their on-field performances. As reported by El Confidencial, Spain’s national tax agency is probing the club for possible discrepancies in their payments to football agents from 2015 to 2018.

The core of the investigation revolves around the suspicion that these payments may be a clandestine method to bolster player salaries. The agency asserts that agents essentially represent players; hence, payments made to them can be interpreted as indirect increments to players' wages.

FC Barcelona had previously managed to quash a similar claim in March. However, the tax authorities have reignited their scrutiny, launching “new verification and investigation actions” against the club.

The contention from the Tax Agency is that Barcelona shouldn't be deducting Value Added Tax (VAT) from invoices tied to agents. Moreover, players should be accountable for the payment of Personal Income Tax (or its non-resident equivalent) on these supposed concealed salary hikes.

Two cases

This investigation is running concurrently with another Tax Agency review of FC Barcelona's non-resident income tax payments for seasons between 2012 and 2015.

The move compounds Barcelona’s legal problems. Last week a judge formally implicated in the Negreira Case, levelling bribery charges. This relates to alleged illicit payments to the former head of the Technical Committee of Referees, José María Enríquez Negreira.

 

Union Berlin enjoys record financial results

First time Champions League qualifiers, Union Berlin, have announced a record profit of €18 million at its general meeting, following record turnover of €174 million – an increase of €52 million on the previous season.

Club president, Dirk Zingler, has highlighted the impressive contributions of the club's teams during the 2022/23 season, attributing its unprecedented growth to the stellar performance of the team.

Addressing 1,100 Union members at its general assembly, Zingler emphasised the symbiotic relationship between athletic and financial achievements. “Last season's results further confirm the nexus between sporting and economic successes, solidifying our financial standing and paving the way for future investments,” he said.

For the first time in the club’s history, Union posted a positive equity of €1.79 million.

Having been promoted from 2. Bundesliga in 2019, Union have enjoyed impressive progress, reaching the 2021/22 UEFA Conference League and the following year’s Europa League. This season they have competed in the Champions League for the first time, having finished fourth in last season’s Bundesliga.

Exciting future

Looking forward, Zingler has set ambitious targets for the 2023/24 season. Projections estimate an income of around €190 million and a consolidated profit of €10.95 million. This robust financial performance indicates a surge in positive equity, expected to reach approximately €12.74 million.

Zingler also provided updates on a new youth academy, which is set to open early next year, and the renovation of the club’s Hämmerlingstrasse training center, where training is scheduled to begin at the end of the year. The club is also set to start upgrades on the An der Alten Försterei Stadium in time for the 2025/26 season.

“In the end we will have a club site that will allow us to experience football the way we like it, and offer a point of contact when football is not being played,” said Zingler.

 

FIFA opens door for Saudi bid with modified 2034 World Cup stadium rules

FIFA has eased bidding regulations related to stadium requirements for the 2034 World Cup, potentially allowing nations with a limited number of football venues to vie for the hosting rights of the tournament.

This decision benefits Saudi Arabia, which announced its plan to bid for the 2034 tournament last Wednesday.

Previously, FIFA's guidelines for the 2030 and 2034 World Cups necessitated member associations to suggest at least 14 suitable stadiums, with a minimum of seven being pre-existing. The rule was to aim for sustainability and avoid the construction of infrastructural “white elephants.”

However, in the latest overview of requirements released on Thursday for the 2034 World Cup, this has been reduced to a minimum of just four existing stadiums out of the proposed 14.

Front-runners

Asia and Oceania, under FIFA's rotation policy, are the earmarked regions for the 2034 edition. Saudi Arabia promptly declared its aspiration to host, hours after the bid opening. For the competition, FIFA mandates venues with a minimum 40,000 capacity, while significant matches demand stadiums accommodating 60,000 to 80,000 spectators.

Saudi Arabia, in its successful bid for the 2027 Asian Cup, had included four venues each with a capacity of 40,000 or more.

Clarifying the revised stipulations, a FIFA spokesperson was quoted by the Guardian, “This update ensures that the infrastructure remains current, focusing on the highest quality standards.”

Potential hosts for the 2034 edition must express interest by 31 October. Australia is also contemplating a bid.

 

NWSL secures major broadcast deals boosting revenues by factor of ten

The US’s main domestic women’s league, the National Women's Soccer League (NWSL), is the latest beneficiary of the growing popularity of women's soccer.

Sportico reports that the NWSL has clinched new broadcast agreements with CBS Espan, Amazon and Scripps, set to amplify its broadcast income by a factor of ten in the upcoming cycle, concluding in 2027.

Historically, CBS contributed approximately $1.5 million (€1.4 million) per year, but this arrangement necessitated the NWSL to shoulder the production costs.

With the forthcoming agreements, the NWSL is poised to propel the worth of its rights, aligning with the levels of the Women's Super League (WSL) in England. The WSL currently has the largest domestic broadcast deal globally, ensuring £8 million (€9.2 million) per season.

Increasing valuations

The surge in broadcast revenues corresponds with the escalating valuations of NWSL franchises. The average value of NWSL franchise fees has soared, crossing the $66 million (€62.3 million) mark. Angel City of Los Angeles now boast an annual revenue of $31 million (€29.3 million), inflating its value to an astounding $180 million (€170 million), as indicated by Sportico.

Ramon Alarcón Rubiales assumed the role of CEO at Real Betis in December of last year, and within a few months, signs of impending change began to emerge.

In February, it was announced that the club's sporting director, Antonio Gordon, would depart at the end of the season. The departure of Gordon, well-regarded and fairly successful in his role, took many by surprise.

It was the initial indication that changes were imminent in the club's sporting department, as the 48-year-old CEO and the board aimed to integrate more business methodologies into football operations.

Alarcón, a former board member at Real Betis Balompié between September 2015 and December 2020, joined the club's executive team as business general manager in October 2016. He is also a shareholder and season-ticket holder at Real Betis Balompié.

"First and foremost, we are a football club. We aspire to win and compete at the highest level. Therefore, I share the same aspirations as other members and fans of this esteemed club. However, I believe that to reach the pinnacle in LaLiga and enhance our current results, we must introduce significant changes in the sporting department. A more strategic approach is imperative."

However, he says that it all begins with culture. That you need to change the culture in the sporting department if you want to see changes and improvements, and to change a culture, which has been build up in centuries, takes a real effort.

“The board and the whole management team agree a 100 per cent that we need to change the mindset at the sporting department. I do not intend to blame anyone, because everyone involved work hard and they put their heart into the job they carry out. But too many things are concentrated around the next game, or maybe the next handful of games. And we need to be able to also make decisions that will benefit this club in two or three years time. And at the same time be competitive in the short run. But I recognize it isn’t easy to do both,” says Alarcón, who has a degree in business direction and administration, and a post-graduate degree from Dublin City University.

At Real Betis he was driving the changes at the commercial side of the club for seven years, which saw revenues improve significantly, and he is determined to make an impact also with the sporting department.

“I am not the one going to carry out all the decisions and changes, because we have hired a new sporting director with the holistic mindset that we were looking for. So, in that sense this is not my project, because I don’t drive the changes in all the daily decisions and the way a new organization is build. But I pay attention to it.”

Q: What exactly does it entail to adopt a more business-oriented mindset in the sporting department?

"I believe it requires someone at the helm with a deep understanding of the financial aspects surrounding the squad, transfers, academy, and so forth. We're dealing with substantial sums, so first and foremost, one must be cognizant of the financial repercussions if we deviate from budgets or plans."

Additionally, according to Alarcón, it involves formulating a strategy in this domain, one that aligns financially with all other strategic priorities at the club. He takes on a serious tone as he continues:

"There's another crucial aspect: our sporting director must be approachable. They should exhibit eagerness and a willingness to collaborate with all other departments of the club to determine where they can provide support. The sporting director is a part of a larger team and should contribute like everyone else. We don't want the sporting department to be somewhat disconnected from the rest of the club, as may have been the case previously."

Alarcón Rubiales expresses his desire to emulate the team spirit seen in some of the world's greatest cycling teams, where one day, you might compete for victory, but the next, you might sacrifice and lose several minutes to competitors in the interest of the team's strategy.

"I would love to instill the same ethos here, where Real Betis is always at the forefront of every decision we make, and people are willing to work exceptionally hard to help others succeed."

Ramón Alarcón points out that if the sporting director is committed to close collaboration with colleagues from other departments, this attitude naturally permeates through the entire organization, from the first team to the U/21 team, generating momentum where everyone is dedicated to growing the business. This goes beyond just training and playing matches.

"Ramon Planes has joined us, and we can see that he serves as the bridge between the first team and all the other departments. He's doing a fantastic job in that capacity, opening up numerous commercial opportunities for us."

Alarcón acknowledges that the primary responsibility of the sporting director is to build a strong squad and provide the head coach with the best chance to win matches. However, he emphasizes that everyone at the club must understand that for on-field success, all business units surrounding the sporting department require access to and communication with players, coaches, and others in the first team.

While transparency and collaboration are crucial within the club, running a football department involves various aspects. This includes ensuring that wages remain reasonable, making sound deals in the transfer market, and continually improving domestic and European results.

"We've just embarked on our work in this area, but, first and foremost, I believe that as a sporting director, you need to justify significant spending on a player or in a transfer market. It's not sufficient to merely explain that the team will perform better and secure more points. Such a rationale is simply not good enough."

Alarcón insists that if substantial funds are to be spent on a star player, it must align with the club's overall strategy. Presenting alternatives is essential and understanding that the money may not be available without a well-thought-out rationale for how X player(s) would enhance Real Betis' overall business.

"We adhere to a plan, and the sporting department must align their decisions with it and support it. There's always a temptation to invest in players, but it might not always be the best solution. Perhaps allocating the funds to the academy or upgrading our VIP facilities would be wiser. I seek a greater sense of balance and professionalism in our club's investment decisions, which predominantly occur in the sporting department," says Alarcón.

The Real Betis CEO recognizes the pressure from all stakeholders within and around the club as he challenges the traditional power structures at football clubs, where the sporting department often holds sway worldwide.

"Communication is key for me, ensuring that all stakeholders understand the reasons behind our actions. Our main goal is to enhance the team in the long term. But achieving that doesn't mean allocating almost all the funds to the sporting director. We need a more comprehensive, smarter plan."

Alarcón Rubiales has firsthand experience of the football industry's dynamism when the club received a lucrative offer, reportedly around €25 million, from Saudi Arabian outfit Al-Ittihad for defender Luiz Felipe after the transfer window closed. Consequently, they couldn't secure a replacement.

"It was a tough decision indeed, and it's something we have to adapt to. Sometimes, we may feel vulnerable due to certain decisions, whether on the financial or sporting side. Balancing these aspects is a continuous challenge, always with the long-term interests of Real Betis in mind."

Juventus will seek to raise as much as €200 million of new equity from its shareholders after the club posted another substanial annual loss.

The club lost €123.7 million in 2022/23 and predicted it would stay in the red this fiscal year.

In its preliminary financial statements, Juventus revealed that turnover in 2022/23 reached €508 million including transfer income – an increase compared to €443 million in 2021/22. The growth is primarily driven by higher transfer revenue and higher matchday income.

Player related expenses such as wages and amortisation decreased by €89.5 million in total. Player wages and technical staff costs was down by 18 per cent to €255.4 million.

Despite the massive financial loss it was almost 50 per cent lower than the year before where Juventus posted a €239.3 million loss.

Exor inject €128 million

The Serie A club, which has been controlled by the Agnelli family for a century, said parent company Exor would support the capital increase.

Juventus have already raised around €700 million from its shareholders over the past four years in two separate operations. Roughly two thirds of these cash were covered by Exor.

Exor, which has a stake of around 64 per cent in Juventus, will pump up to €128 million into the club as part of the new capital increase, Juventus said.

Manchester United takeover: Qataris ‘will not increase £5 billion bid’ despite new Ratcliffe offer

The Qatari group bidding for Manchester United will not increase their existing offer of £5 billion despite the threat posed by a new deal being tabled by Sir Jim Ratcliffe, according to The Times.

The newspaper had reported last week that the British billionaire was considering making an offer for a 25 per cent stake for around £1.5 billion having initially proposed buying the 67 per cent stake belonging to the Glazer family.

However, sources close to the Qatari group being led by Sheikh Jassim Bin Hamad al-Thani have told The Times that the news of Ratcliffe’s potential restructured bid amounts to another pressure tactic designed to make them increase their offer.

While the Glazers value United at around £6 billion, the Qataris are said to remain convinced the price is too high and are standing by their offer of £5 billion for a 100 per cent purchase.

It is understood the Qatari group are taking that position not least because United have endured an especially poor start to the season, but also due to the club’s debt of just over £1 billion and also because the Old Trafford stadium and training ground remain in dire need of modernisation.

Scepticism over Ratcliffe proposal

The Times also reported that the new proposal from Ratcliffe is being met with some scepticism among some well-placed observers who question whether a significant sum of money will be available for investment in the football club. It is also unclear how much influence Ratcliffe would enjoy if his stake was limited to 25 per cent.

 

Oaktree tables €1 billion bid to fund Serie A D2C service

The prospect of Serie A launching its own direct-to-consumer (D2C) TV service has been raised once again, with Bloomberg reporting that the US investment fund Oaktree has tabled a bid of around €1 billion to finance such a project.

If agreed the deal would see Oaktree effectively acquire domestic media rights for Italy’s top-flight and comes after months of negotiations over the next cycle of those rights with Italian broadcasters.

No agreement is in sight following discussions between Serie A and broadcasters including Sky, DAZN and Mediaset, with no organisation as yet meeting the Italian league’s asking price of around €1 billion per year.

According to Il Sole 24 Ore, the offer from Oaktree is just under €1 billion, at around €950 million for the first year, and the fee would then decrease in the following 14 years. Advertising revenues of over €70 million per year would still be earned by Serie A.

Casini: D2C TV service is “concrete hypothesis”

The Serie A president Lorenzo Casini sought to underline the possibility of the league launching its own D2C TV service on Friday when speaking to the Italpress agency on the sidelines of an event in Florence.

Casini said that "at the moment it is a concrete hypothesis”, before stressing that a league assembly will gather on Monday (9th October) to discuss the latest offers from broadcasters, who have a deadline of 15th October to submit final bids.

He added: "It is an economic and sustainability issue, so it depends: if the offers that arrive satisfy the clubs, then we will continue with the traditional model. If the clubs were to consider it economically advantageous to go towards the channel of the Serie A League they could decide this.”

 

Saudi Arabia to ramp up pursuit of world’s elite players in support of 2034 World Cup bid

Saudi Arabia is set to step up its pursuit of the world’s leading players after announcing its bid to host the 2034 World Cup, The Times reports.

Some of the world’s biggest stars, including Cristiano Ronaldo, Neymar and Karim Benzema, have joined Saudi clubs in the past year on huge salaries.

The Saudi Pro League’s threat to European competitions has been downplayed by the Premier League and UEFA, but it is understood that as part of the Gulf state’s 2034 bid it will aim to develop its domestic competition even further.

One Saudi-based source told The Times: “We have said all along we want to be one of the most successful leagues in the world. This is not just for the short term.

“Of course, if we were to be awarded the World Cup we want our league to be even more successful so we will be trying to attract more players and better players.”

Only bidder for 2034 World Cup

Saudi Arabia is expected to be the only bidder for the 2034 World Cup. The bidding process is being run at the same time as the 2030 process, which FIFA has decided will be staged mainly in Spain, Portugal and Morocco. The opening three matches will be played in Uruguay, Argentina and Paraguay to mark the centenary of the tournament.

 

Prospective Everton owners address concerns and dismiss negative reports

777 Partners’ co-founder Josh Wander has written an open letter to Everton fans, addressing concerns and dismissing negative reports surrounding the club's takeover.

Wander describes the opportunity to take over Everton as "profound" and emphasizes their commitment to the club's history and legacy.

Acknowledging the existence of concerning reports, Wander assured fans that the truth is less dramatic than portrayed and called them “misleading”. He acknowledges that there have been perceptions of instability and unrest surrounding the proposed purchase of Everton but reassures fans that there will be no quick fixes at the club.

Wander expressed confidence in their ability to address underlying issues and build a sustainable business for long-term success. 777 Partners currently control four clubs directly: Genoa in Italy, Standard Liège in Belgium, Vasco Da Gama in Brazil, and Red Star in France.

He their shared service model, which provides access to resources for player recruitment, data analytics, and commercial development across all their clubs.

Increasing player value

“777 is not a typical private equity firm that purchases large healthy businesses with third party capital. We have had entrepreneurial success through building businesses from scratch - or acquiring businesses in poor condition and transforming them. Similarly, we have applied these principles to the football industry,” Wander wrote and continued:

“At each of our clubs, we have improved sporting results meaningfully while reducing costs and increasing player value. Our success both on and off the pitch is clear to see.”

Real Madrid have joined the growing list of European football clubs with a tourism sponsorship after announcing a multi-year deal with Visit Dubai.

Under the agreement, which covers the LaLiga club’s men’s and women’s teams, the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), which operates Visit Dubai, will become the club’s first ever ‘official destination partner’.

In a statement, Real Madrid said the tourism organisation will provide exclusive travel and football experiences for the club’s fans through the partnership, which is part of the Dubai-D33 Economic Agenda announced back in January.

Real already have strong ties to the UAE through their front-of-sponsorship deal with Emirates. The Dubai-based airline’s logo has been on the front of the men’s team’s shirts since 2013, and the deal was renewed last year up to 2026.

Branded theme park

The announcement of the deal with Visit Dubai comes ahead of the opening of the world’s first Real Madrid branded theme park at Dubai Parks and Resorts. The complex is due to open by the end of this year after first being announced last November.

Real said the park will have attractions related to the club, a museum and football skill games, as well as a wide range of restaurants and commercial spaces selling official merchandise.
 

Chelsea shirt sponsorship deal with Infinite Athlete to extend beyond this season

Chelsea’s deal with their new front-of-shirt sponsor Infinite Athlete is to extend beyond this season, with the sports data company aiming for a long-term partnership, The Evening Standard reports.

The West London club’s season-long deal with the US-based firm was announced last week, with the agreement reported to be worth £43 million.

Infinite Athlete co-founder and CEO Charlie Ebersol has now revealed the deal will continue after this season.

“I wanted to use our partnership with Chelsea to build an expanded footprint in football,” Ebersol said. “We had this idea about doing a one-year front-of-shirt deal. They discussed a longer deal about really building this out in a comprehensive package with all these different assets we will do with them over many years.”

He added: “We presented it to the Premier League as a unique deal. We are not just a traditional front-of-shirt sponsor in that we are doing social media tooling and other product stuff for the club.”

Seven-year partnership with Tempus Ex Machina

Infinite Athlete was only launched in August after Tempus Ex Machina acquired injury analytics firm Biocore, meaning Tempus now goes under the name Infinite Athlete.

Back in April, Chelsea unveiled a seven-year partnership with Tempus Ex Machina “to power innovative technology enhancements for the club and our global fanbase.”

Ebersol said: “So we have our seven-year partnership with Tempus Ex and another multi-year partnership around sponsorship, then other assets we do over the next years. Frankly, we are open to doing a never-ending and larger partnership with Chelsea.”

Morocco, Spain, and Portugal have been awarded the hosting rights for the 2030 World Cup, with the opening three matches set to take place in Uruguay, Argentina, and Paraguay.

The decision to award the opening games to South America is in celebration of the tournament's centenary. All six countries involved will automatically qualify for the tournament, making it the first World Cup to be held across three continents.

The opening match will be played at Uruguay's Estadio Centenario, the same stadium that hosted the final of the inaugural World Cup in 1930. The opening ceremony, however, will still take place in Morocco, Spain, or Portugal.

With six countries hosting matches, this will be only the second World Cup to be played across multiple nations with the 2026 tournament in Canada, Mexico and the United States the only other edition to have more than two host nations.

FIFA President Gianni Infantino expressed his satisfaction with the joint bid, highlighting its message of peace, tolerance, and inclusion. He also mentioned that FIFA would welcome bids from other confederations for future tournaments.

Saudi bid for 2034

Later on Wednesday, Saudi Arabia confirmed its intention to bid to host the 2034 men’s World Cup.

The Saudi Arabian Football Federation (SAFF) said that it sought to deliver a “world-class tournament” in the 25th edition, and said its bid would draw inspiration from the country’s “deep-rooted passion for football”.

 

Britain and Ireland to host Euro 2028

Britain and Ireland will be confirmed as the hosts of Euro 2028, with the final set to take place at Wembley Stadium. This comes after Turkey withdrew its bid for the tournament and instead opted for a joint bid with Italy for Euro 2032.

The formal awarding of Euro 2028, featuring 24 teams, will be ratified by UEFA's executive committee on October 10.

The decision to host Euro 2028 in Britain and Ireland follows the abandonment of a bid for the 2030 World Cup. This will mark the first time since Euro 1996 that an entire major men's football tournament will be held in the British Isles.

The host nations, including England, Scotland, Wales, Northern Ireland, and Ireland, are expected to play qualifying matches for Euro 2028. UEFA's plan reserves two automatic spots for any host nation that fails to qualify, with additional spots allocated if necessary. Matches will be held at ten stadiums across the five nations.

Confident in its approval

The British and Irish Football Associations released a joint statement expressing excitement about their bid and the lasting legacies it will create. The bid will be presented to UEFA on October 10, and they are confident in its approval.

 

Premier League plans to revamp TV rights sale in the UK

The Premier League is set to make significant changes to the sale of its TV rights in the UK ahead of the upcoming auction, according to Financial Times.

One of the key changes is extending the duration of the deal to four years and eliminating the smaller tranche of games offered to Amazon. Instead, the league will focus on fewer, larger packages in order to increase revenue. This decision was made based on feedback from broadcasters who found the current terms risky and wanted more time to invest in production and broadcast elements.

The newspaper writes that in addition, there are plans to significantly increase the number of games auctioned from the current 200. Matches will be spread across Friday to Monday, including earlier slots on Saturdays. However, rumors of an additional Sunday night game are unlikely to materialize.

Auction to begin

Officials are also considering reducing the number of auction packages from seven to potentially five. This would remove the small package that attracted tech and streaming companies in the previous auction, forcing them to bid for larger packages.

The auction is expected to begin in the coming weeks, with bids anticipated from broadcasters such as Sky, DAZN, and TNT Sports. The changes aim to generate higher revenue by offering more games over a longer period, even if the cost per game decreases.

 

Investigations launched into Wolves' sleeve sponsor for illegal streaming allegations

Wolverhampton Wanderers and the Premier League are conducting investigations following allegations that the club's sleeve sponsor, 6686 Sport, has been illegally streaming games on their Chinese language website.

The claims were made by investigative football site Josimar, stating that 6686 Sport, an Asian bookmaker, has been providing free access to matches from the Premier League, Bundesliga, Serie A, and other competitions without having the official broadcasting rights or paying for them.

Wolves, who entered into a partnership deal with 6686 Sport earlier this year, are addressing the issue with the company, according to the Athletic. The sponsorship agreement between Wolves and 6686 Sport is considered the largest sleeve sponsorship in the club's history. The Premier League is also aware of the situation and is looking into it.

30 years in prison

The piracy of Premier League content has been taken seriously by the league in recent years. In May, five individuals were sentenced to over 30 years in prison for their involvement in an illegal streaming network.

Both Wolves and the Premier League are committed to protecting their intellectual property rights and ensuring that broadcasting rights are respected. Investigations will determine the extent of any wrongdoing and appropriate actions will be taken based on the findings.

According to The Times, British billionaire Sir Jim Ratcliffe is considering making an offer for a 25 per cent stake in Manchester United. This move, which would leave the Glazer family in control of the club, comes after Ratcliffe had initially proposed buying a controlling stake. The potential offer is said to be around £1.5 billion.

The proposal is seen as an attempt to break the deadlock in the ongoing sale process of the club, which has been ongoing for ten months.

However, it leaves the future of Manchester United uncertain as the issue of control at Old Trafford has yet to be resolved. The newspapers sources suggest that this initial purchase could be the first step in a more prolonged takeover by Ratcliffe and his company Ineos.

A and B-class

Ratcliffe had emerged as the frontrunner to buy Manchester United ahead of Qatar's Sheikh Jassim bin Hamad Al Thani.

However, concerns were raised about legal challenges from minority shareholders if Ratcliffe were to acquire the majority stake owned by the Glazers. To mitigate this risk, Ratcliffe's latest proposal allegedly involves buying an equal amount of A and B-classed stock.

 

Three clubs threaten legal action against Everton's prospective owners

Burnley, Leeds, and Leicester, have written a joint letter to American investment firm 777 Partners, the prospective owners of Everton, informing them of their intention to sue the club for £300 million if they are found guilty of breaching Premier League spending rules, reports the Daily Mail.

The letter was sent pending the outcome of a Premier League independent tribunal on October 25th. The three clubs are unhappy that Everton's charges were not addressed last season, potentially helping them avoid relegation. They argue that if Everton is found guilty, they deserve compensation for the loss of top-flight income for one season.

Burnley, Leeds, and Leicester have formally notified the Premier League of their intention to sue and are prepared to claim £100 million each. Forest and Southampton, who were part of the initial alliance against Everton, have reportedly withdrawn from the legal action.

Significant obstacle

Any legal action from rival clubs would pose a significant obstacle to 777 Partners' plans to acquire Everton, as questions about the source and sufficiency of their funding remain unanswered.

The Miami-based investment firm has already loaned Everton around £20 million to address cash-flow issues.

 

Real Madrid initiates legal action against accusations of referee bribery

Real Madrid are taking legal action in response to accusations made by former police commissioner Jose Manuel Villarejo, who claimed that the club bribed referees.

Villarejo made these allegations during a radio interview, implicating Real Madrid president Florentino Perez in illegal activities involving payments to match officials.

In March, FC Barcelona and former vice-president of the Spanish football refereeing committee, Jose Maria Enriquez Negreira, were indicted on charges of corruption, breach of trust, and false business records. FC Barcelona have consistently denied any.

According to Villarejo, similar practices were carried out by Real Madrid but were never pursued. He stated, "All presidents have done it. Florentino Perez too. Somehow, at Real Madrid, before this (Barca's Negreira case), the same thing had already been detected." Villarejo further claimed that prosecuting anything involving Perez would be impossible as he is considered “untouchable”.

False accusations

In response to these allegations, Real Madrid released a statement announcing their intention to take legal action against Villarejo for his false accusations.

"The president of Real Madrid C.F., Florentino Perez, has ordered the immediate filing of the corresponding legal action against the ex-commissioner Villarejo for the false accusations made on the Catalan radio station RAC1," the statement read.

Jose Manuel Villarejo, 72, was arrested in 2017 on charges of bribery and extortion, among other alleged offenses. He went on trial in 2021.

 

UEFA denies reports of new Super League-style competition

UEFA has denied reports suggesting the launch of a new Super League-style competition managed directly by the European football governing body and the European Club Association (ECA).

The denial comes in response to an article by El Pais claiming that such a tournament could be introduced from 2027.

The UEFA statement emphasized their opposition to any form of Super League and stated that they are eagerly anticipating the introduction of the new club competition format in 2024.

UEFA highlighted that the new format will prioritise national performance for qualification, provide fans with more important European matches, ensure better competitive balance, and maintain an open competition where every game matters.

Three tiers

The reported concept of the UEFA's alleged new idea includes three tiers of European leagues, each involving 18 teams, with a system of promotions and relegations between them. The number of changes between the first and second tiers would be limited to two per season to accommodate stronger clubs' desire to maintain their status.

 

Media: Investor triggers resale clause to exit investment in Olympique Lyon

Iconic Sports, a company that helped finance John Textor's takeover of Olympique Lyonnais, is seeking to exit the investment, according to L'Equipe.

The firm made a €75 million equity investment in Eagle Football to help fund the €800 million takeover of Lyon last year.

However, they now want a reimbursement of the initial investment due to an alleged agreement with Eagle Football that was not honored. It remains uncertain whether Eagle Football will be able to repay the sum, as Textor has not yet sold all the assets he had hoped to.

The exact details of the disagreement between Iconic Sports and Textor have not been disclosed. At the time of the investment in Eagle Football, Jamie Dinan, co-owner of Iconic Sports, said about John Textor:

"John is a visionary who has built an era-defining platform, and together we have a sophisticated strategic vision, business plan and growth strategy for Eagle Football, which we believe will position our clubs for competitive success and create value for all of our stakeholders."

Meeting with financial watchdog

This development adds to the challenges faced by Lyon since the takeover, including a strained relationship with former president Jean-Michel Aulas and poor performance on the pitch, with Lyon currently at the bottom of the Ligue 1 table after seven matchdays.

On top of this John Textor is set for another meeting with the DNCG, French football's financial watchdog, despite promising a big January transfer window.

The DNCG had imposed restrictions on Lyon's summer spending after Textor failed to present €60 million in club funds. This resulted in limited spending and strict supervision of transfers and salaries.

While Textor believed the constraints would be lifted for the January transfer window, L'Équipe reports that an extension of the restraints is possible.

Premier League clubs had £124.8 million claimed back in unpaid tax by HMRC investigators in the most recent financial year, according to accountancy group UHY Hacker Young.

This amount is more than double the £58.7 million claimed the previous year. The reclaimed payments include National Insurance on agents' fees, tax on benefits in kind, and image rights. Benefits in kind encompass arrangements made for players and their families, such as flights and hotels.

Previously, it had been suggested that Premier League clubs had avoided paying £250 million in tax by using dual representation contracts when paying agents. Dual representation allows clubs and agents to avoid employment taxes and VAT on the large commissions paid to football agents in transfers and contracts.

Under this arrangement, an agent receives payments for acting for both the club and player involved in a deal, rather than solely from the player they represent.

According to Tax Policy Associates, the fees paid to agents through dual representation contracts reportedly escape income tax, national insurance, and VAT when paid by the club. The increasing proportion of agents' fees being paid by clubs has drawn the attention of HMRC, prompting investigations into whether all tax due on these payments is being paid.

HMRC focuses on tax compliance

Elliott Buss of UHY Hacker Young stated that HMRC now has the tax affairs of these clubs in its sights. HMRC will continue to scrutinize arrangements between clubs, players, and agents to ensure proper tax compliance.

The organization works closely with the football industry to address tax risks proactively.

 

Media: UEFA and ECA collaborating on new Super League concept

UEFA is reportedly working on a new Super League concept in collaboration with the European Club Association (ECA), according to Spanish newspaper El País.

The proposed Super League would consist of three divisions, each with 18 teams, and would replace the current European competitions such as the Champions League. The divisions would be named the Super League, Europa League, and Aspiring League, with four promotion and relegation spots between the second and third divisions.

However, the Spanish newspaper reports that the more powerful clubs are concerned about the risk of relegation and have threatened to break away if the Court of Justice of the European Union rules against UEFA's monopoly on football tournaments.

They are apparently requesting that a possible relegation should be determined by the average performance over the last three or five seasons, rather than a single year.

Addressing scheduling concerns

To address scheduling concerns, each division would be divided into two groups with a final phase. National leagues may also play a role, with winning the domestic title or achieving a good position potentially earning clubs financial bonuses and additional points in the Super League standings.

According to the media there are still many details to be worked out, including whether matches should be played on weekends. The project is expected to begin after the 2024-2027 rights cycle for the Champions League.

Chelsea’s owners are considering increasing their borrowing by as much as £250 million as they look to continue their heavy spending in the transfer market, according to a report from Bloomberg.

Bank of America Corp. is understood to be advising Todd Boehly and Clearlake Capital as they weigh taking on more debt under existing loan agreements.

A source told Bloomberg that the owners of the West London club already had £800 million in loans in place, with the option of taking the limit on these to £1.05 billion, and that lenders were invited to attend Chelsea’s match against Aston Villa last month.

The source added that deliberations are ongoing and no decisions have been taken on the final amount of any additional borrowing.

Stamford Bridge revamp

As well as continuing to sign new players, Chelsea’s owners are looking to fund a redevelopment of Stamford Bridge and invest in more football clubs.

Last month, it emerged that Chelsea have raised around $500 million in fresh investment from US alternative asset manager Ares Management to help fund those projects.

 

Premier League and EFL set to sell TV rights together in ‘historic deal’

The Premier League and English Football League (EFL) are set to sell their broadcast rights together for the first time in what would be a historic deal following further discussions over a new financial settlement, according to a report from The Daily Mail.

Under the terms of a proposal from the Premier League presented to clubs at a general meeting held in Derby last Thursday, the EFL would also receive 14.75 per cent of their pooled media rights from next season and an £88 million bonus payment this season, with collective selling to begin in 2028.

Whilst the exact figures will depend on future broadcast deals the 14.75 per cent share is expected to more than double the current £130 million in solidarity payments the Premier League provide to the EFL, a figure which excludes parachute payments.

While the deal presented is only for the collective selling of overseas TV rights from the 2028/29 season onwards, it could be extended to include domestic broadcast deals in the future.

More live games could increase value of Premier League domestic rights

News of the potential deal came as it emerged that Premier League clubs are confident of securing the first rise in broadcast income for domestic rights for almost a decade after agreeing significant changes to the auction process.

As reported by The Times, the next TV deal will have at least 50 more live matches a year and possibly more, will be for four years rather than three in an effort to attract more broadcasters, and the league’s sales team are considering cutting the number of packages from seven to five.

At Thursday’s meeting clubs approved the process of sending a tender to broadcasters but with flexibility for the sales team to decide on packages and final match numbers.

The auction, which is expected to be held this year, could be for up to 270 live matches a season, depending on displaced kick-offs, but will have a minimum of 250, which will be 50 more than under the existing deals.

It will mean only a third of the 380 Premier League games a season will not be on TV, with those matches the ones played during the Saturday 3pm blackout. It is likely to mean more televised matches on Sundays as well as Friday, Saturday and Monday evenings – but there will be no Sunday-night slot.

 

Fresh concerns over 777 Partners’ Everton takeover as Vasco da Gama handed FIFA transfer ban

Fresh doubts have emerged over the suitability of Everton's prospective new owner 777 Partners after Vasco da Gama, a Brazilian club owned by the US investment firm, was reportedly handed a transfer ban by FIFA over late payments to clubs.

According to Brazilian newspaper Globo, Vasco owe Nacional of Uruguay $2 million for the signing of Puma Rodríguez and $1.5 million to Argentina’s Atletico Tucuman for the purchase of Manuel Capasso, and have also fallen behind on payments for Leo Jardim to French club Lille.

Globo reported that all three clubs have launched legal action over the fees owed. The Brazilian transfer window is currently closed and will not reopen until next summer, by when the debts are expected to be paid off.

£500 million deal

The development will raise new concerns about the prospect of 777 Partners’ takeover of Everton.

The Miami-based firm reached an agreement last month to acquire owner Farhad Moshiri’s 94.1 per cent stake in a deal reported to be worth £500 million. Everton said the sale is expected to be completed later this year, but is subject to Premier League, FA and Financial Conduct Authority approval.

Other Premier League clubs are said to have already expressed worries over 777’s acquisition of the club, with the concerns stemming from the uncertainty over the source of 777’s funding for the deal.

Owners are also said to be worried about the potential reputational damage to the Premier League, with the company currently involved in fighting several court cases in the US.

 

Ajax post €39 million profit for 2022/23 and reveal KPMG to investigate Mislintat

Ajax have reported a profit of €39 million for the year ending 30th June 2023 despite a difficult season on the pitch, after suffering a loss of €24.3 million in 2021/22.

Last season, the Dutch giants finished third in the Eredivisie and failed to qualify for the Champions League for the first time in 13 years. The team’s form has dipped even further at the start of the current campaign, sparking fan protests, while Pier Eringa, chairman of the club’s supervisory board, has stepped down.

Total revenues for 2022/23 increased by 4 per cent to €196.3 million, up from €189.2 million the previous year.

In a statement summarising the results, the Dutch giants said the profit was achieved mainly as a result of the transfers of Antony dos Santos and Lisandro Martínez to Manchester United and Sébastien Haller to Borussia Dortmund, with the total amount earned from player sales in 2022/23 reaching €113.3 million, compared with €37.8 million the previous year.

The club said it earned significantly lower income from European competition after failing to qualify from the group stage of the Champions League and moving into the Europa League. In 2021/22 Ajax reached the last 16 of the Champions League.

Decrease in wage bill

However, revenues were boosted by extra income from ticket sales compared to the previous season, when some matches were played without spectators due to the Covid-19 restrictions, and also by increased commercial revenue.

Expenses fell by 3 per cent to €191.6 million, mainly due to a decrease in the club’s wage costs after not paying bonuses to players following the disappointing results.

Ajax also said that equity stood at €236.6 million at the end of the 2022/23 financial year, and that the executive board and supervisory board propose to pay a dividend of €0.9 per share.

The club added that for 2023/24 it expects to earn another positive net result, again thanks to player trading following the sales of Jurriën Timber, Edson Álvarez, Calvin Bassey and Mohammed Kudus, among others.

KPMG to investigate Mislintat

Ajax also revealed that the global accounting firm KPMG is carrying out the external investigation into the transfer activities of the club’s former director of football affairs Sven Mislintat, who was dismissed late last month.

Ajax said KPMG is investigating “the role and interests” of Mislintat “in specific transactions during the period in which he was employed by Ajax, under the ultimate responsibility of the Supervisory Board.”

 

Sheffield Wednesday owner Dejphon Chansiri says he will stop funding club and attacks fans

Sheffield Wednesday owner and chairman Dejphon Chansiri has said he will not put any additional money into the club and launched a scathing attack on the club’s supporters following protests over recent weeks.

Chansiri, who claimed his family have received abuse, has offered to sell the club provided a new owner can prove that they have the funds.

In a lengthy statement to Wednesday fans published on the club’s official website on Friday, the Thai businessman said: “From now, I will not put additional money into the club. If you say you are the owner and I am the custodian, then show me how to be the good owner and help save your club.”

Chansiri, whose family controls the Thai Union Group and led a consortium to acquire Wednesday in 2015, added: “You want me to leave but you want me to spend money? If you want me to leave, then show me how to run the club and invest the money before I do that.

“You have no right to ask me to leave. I am the one who saved the club and spent the money for the club, I am the one who needs to pay around £2 million on average every month.”

Tennis balls thrown on to pitch

Wednesday earned promotion to the English second-tier after winning last season’s League One play-offs, but currently sit bottom of the EFL Championship, having drawn two and lost seven of their nine league games.

There have been chants during games for Chansiri to leave the club and supporters threw tennis balls on to the pitch during the game against Middlesbrough last month, which briefly disrupted the match.

 

Athletic Bilbao break even for 2022/23

Athletic Bilbao have reported that the club broke even during the year ending 30th June 2023, Jon Uriarte’s first as president, after suffering a loss of €10.6 million the previous year.

Total revenues were €123.9 million, down from €126.6 million, but operating income reached €119.1 million, compared with €109.3 million in 2021/22. The club pointed to the ending of Covid restrictions as a key factor behind the increase, with sponsorship and commercial income up by €6.8 million.

Athletic said a significant contribution to this growth came from revenues linked to the stadium, including ticketing, the San Mamés VIP Area and museum, as well as the retail-textile area.

Operating expenses fell to €123.8 million, down from €126.5 million, which the club said was due to a lower wage bill and containing “non-strategic expenses”.

Revenues of €128.7 million forecast for 2023/24

Athletic are anticipating a further improvement in their finances next year. The budget approved for 2023/24 projects turnover of €128.7 million, increasing the available capital by 9 per cent.

"The budget deepens the progressive improvement of operating income, expecting a strong contribution from the marketing of the San Mamés VIP Area, the achievement of new sponsorships, as well as the segment of new businesses," the club said.