Everton are set to be taken over by 777 Partners after the club confirmed an agreement has been reached for the American investment firm to acquire owner Farhad Moshiri’s 94.1 per cent stake.

In a statement released on Friday, Everton said the sale is expected to be completed in the fourth quarter of 2023, subject to Premier League, FA and Financial Conduct Authority approval.

The agreement follows months of speculation about a potential change of ownership at the Merseyside club. The takeover would bring to an end the tumultuous tenure of British-Iranian Moshiri, a shareholder since 2016 and majority shareholder since 2018, and would mean that half of the 20 Premier League clubs are American-owned.

Moshiri said in the Everton statement: “The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago. The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state-backed companies and funds.

“I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date.

“I have spoken to a number of parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model."

High-profile addition

Everton would be the most high-profile addition to 777’s portfolio of football clubs. The Miami-based firm has stakes in Genoa, Sevilla and Hertha Berlin, as well as Standard Liège of Belgium, the Paris-based club Red Star FC, Vasco da Gama in Brazil, and Melbourne Victory in Australia.

 

Premier League set to agree on extra £130 million for EFL in new financial settlement

The Premier League is this week expected to agree to a new financial settlement with the English Football League (EFL) worth an additional £130 million a year, according to The Times.

Talks on a settlement have been ongoing since last year but sources close to the process have told the newspaper that an agreement on money is now in sight. It is understood the remaining sticking points are parachute payments and the cost controls that will go with the extra cash.

The proposal to be put to clubs is for the EFL to receive a sum of money tied to the Premier League’s media rights income, which at the moment would mean around £130 million a year extra on top of the existing £110 million solidarity payments and £40 million youth development funding.

Merit system

The proposed settlement is also expected to include a merit system for distributing the extra money based on league position throughout the three EFL divisions, and to adopt UEFA’s new cost-control model, in which clubs will be restricted to spend only a fixed percentage of their revenue on wages and transfers.

The Premier League clubs are meeting on Thursday, when the proposed deal is expected to be outlined. The EFL clubs are meeting next week and any deal will have to be signed off by all the clubs.

 

Eintracht Frankfurt achieves record sales and returns to profitability

Eintracht Frankfurt have announced a record-breaking turnover of €294.4 million for the 2022/23 season, along with a return to profitability, posting €17.6 million after tax.

This surge in revenue was influenced by several factors. Matchday earnings, which encompass ticketing and hospitality, totaled €53.9 million. This marks a substantial 72.6 percent growth compared to the prior season, during which most home games had limited seating capacity. Revenues from media rights, boosted by participation in the UEFA Champions League and reaching the DFB Cup final, amounted to €140.5 million. This is an increase of €31.6 million from the previous season.

There was also growth in marketing revenues, which rose from €38.2 million to €42.9 million (a 12.3 percent increase). Merchandising sales set a new record at €23.2 million, reflecting a 31.8 percent growth compared to the last season.

Moderate increase in wage bill

The club's total expenses grew by 4.2 percent to €292.6 million, due to higher merchandise material costs and increased depreciation from investments in player acquisitions.

Nevertheless, despite these heightened expenses, Eintracht Frankfurt succeeded in maintaining a modest club wage bill. This, while achieving notable sporting accomplishments, saw an increment of 2.8 percent, settling at €119.6 million.

 

AFC may be sued for allowing Saudi multi-club ownership in Asian Champions League

The Asian Football Confederation (AFC) is facing a potential legal challenge after seemingly ignoring its own regulations on multi-club ownership by allowing three clubs owned by Saudi Arabia’s Public Investment Fund (PIF) to take part in the Asian Champions League.

The Guardian understands that several leading Asian clubs are now considering taking legal action against the AFC and its chairman, Sheikh Salman bin Ibrahim al-Khalifa.

The three clubs at the centre of the controversy are Al-Hilal, who are the most successful team in the history of the AFC Champions League with four titles, along with Al-Nassr and Al-Ittihad.

PIF announced in June it had secured 75 per cent stakes in all three clubs, as well as Al-Ahli, who were promoted last season from the Saudi second tier. Asian clubs with the same owner are forbidden from entering the Asian Champions League if they have more than a 30 per cent stake based on revenue.

City Football Group case

It is understood that in the case of Manchester City’s owners the City Football Group (CFG), which owns 65 per cent of Mumbai City and all of Melbourne City, both fully satisfy the relevant rules and requirements to play in this year’s competition given there is only a slim chance of them meeting in a competition that is split into two regional zones.

Yet while Mumbai and Melbourne compete in the West and East zone respectively, all three PIF-owned clubs and the Saudi Pro-league’s fourth representatives, Al-Fayha, play in the West zone so could potentially face each other in the last 16.

The AFC is now facing calls to explain to its members why it has ignored its own regulations, with a potential legal challenge understood to be among the options under discussion by clubs from the eastern region of the confederation.

 

J-League indicates support for clubs seeking IPOs

The J-League has said it intends to provide financial support and guidance to some of Japan’s leading clubs to potentially pursue initial public offerings (IPOs).

In an interview with Bloomberg, the J-League corporate executive officer Yoshinori Aokage said it is prepared to offer the assistance to top-10 clubs that are competitive, popular and well managed, but didn’t elaborate on the potential help that could be provided.

Aokage added that foreign investors have expressed interest in taking stakes in Japanese clubs but one hurdle is the difficulty of selling any holdings at a later time.

The 30-year old J-League decided to allow clubs to list on the stock exchange last February as it sought to rejuvenate the business as sponsorship revenue declined and games were disrupted by the Covid pandemic.

“Until now there has been no exit path for investors who want to invest in soccer clubs,” Aokage said.
“With the lift of the ban for listing, they can now formulate a strategy for the future.”

Strong performance at World Cup

The J-League sees the Japanese national team’s strong performance at the Qatar World Cup, when it won matches against Spain and Germany, as boosting the appeal of the sport for investors. A source told Bloomberg that two teams in the Japanese league are mulling the idea of going public.

In a protracted battle for ownership, Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe continue their manoeuvres to acquire Manchester United, nearly 10 months after the Glazer family initially indicated a willingness to sell the illustrious football club reports The Guardian.

Whilst representatives for Sheikh Jassim, a prominent Qatari banker, remain uncertain over the Glazer family's intent, agents acting on behalf of Sir Jim Ratcliffe, one of the United Kingdom's wealthiest individuals, express a higher level of confidence that a sale is forthcoming. No specific timeframe has been delineated by either prospective buyer for finalising the transaction.

A report from The Mail on Sunday earlier this month suggested that the Glazers are in no hurry to relinquish their grip on the club, potentially awaiting offers up to £10 billion. Speculation also arose that the American owners might defer the sale until 2025 when increases in television rights revenue and the Club World Cup expansion could augment the club's value.

Following this report, Manchester United shares endured their most dramatic single-day plunge since their listing on the New York Stock Exchange in 2012.

The Glazers had hinted at the possibility of a sale on 22 November of the previous year, stating they were "commencing a process to explore strategic alternatives," a declaration that fuelled ongoing criticism of their divisive stewardship, which commenced in 2005.

Sheikh Jassim has reportedly tabled a series of bids culminating in a final offer in June, capped at £6 billion. Sir Jim Ratcliffe, in contrast, has floated a proposal to acquire a marginal majority of the club whilst potentially retaining one or more of the Glazers as minority stakeholders. As of yet, both parties await a response from the Raine Group, the American bank overseeing the sale process.

Sponsorship deal

In a parallel development, Manchester United have inked a sponsorship agreement with American technology firm Qualcomm. This new arrangement, set to replace TeamViewer as the primary shirt sponsor from the next season, has led some observers to question the likelihood of an imminent change in ownership.

Though financial particulars were not disclosed, it is speculated that the contract spans three years with an annual worth of £60 million.

 

LaLiga imposes severe reductions on FC Barcelona’s spending cap

La Liga has imposed a drastic cut on FC Barcelona's spending limit for the upcoming season, reducing it from €648 million in February to a mere €270 million. The Spanish top-flight league ratified the new financial caps for all clubs this Thursday, a decision that severely constrains the Catalan giants' flexibility in terms of recruitment and retention of talent.

This newly reduced figure contrasts sharply with the €656 million cap initially set for Barcelona in September 2022. The spending caps delineate the amount clubs can allocate throughout the season on player acquisitions, coaching staff, youth development, and other operational expenditures.

Given that Barcelona's existing wage bill already exceeds €400 million, the club is now constrained to spend only between 50% and 60% of any new revenue generated or expenses reduced, in accordance with La Liga regulations.

Financial problems

This fiscal stricture comes as the latest in a series of financial challenges for Barcelona, who have employed numerous strategies to stabilise their precarious economic situation in recent years. Despite rigorous cost-cutting measures, the club still commands one of the highest wage bills in global football.

In a bid to mitigate their debt burden, Barcelona have resorted to measures such as the sale of their television rights and the partial divestment of club assets. This financial squeeze has also impacted their ability to register new signings, leaving players like Ilkay Gundogan, Inigo Martinez, and Oriol Romeu in limbo ahead of the new season.

This fiscal tightening is not exclusive to Barcelona; La Liga clubs face a collective salary cap that is €489 million less than the previous season's limit. Despite this, Real Madrid continue to enjoy the league's highest spending cap at €727 million, followed by Atletico Madrid with a cap of €296 million.

 

Sporting CP reveal record-breaking turnover and €25 million profit in 2022/23

Sporting Clube de Portugal have released its 2022/23 accounts ahead of its General Assembly scheduled for 2 October.

The club reported a record-breaking turnover of €125.1 million propelled by increasing matchday and commercial income as well as other income.

As usual the Portuguese club had to rely on high-profile player sales - such as those of Matheus Nunes and Palhinha - to make a profit before tax of €25.6 million.

"A new chapter"

Sporting President Frederick Varandas, in his opening statement for the Accounts, heralded the possibility of "the beginning of a new chapter" in which investment could escalate without compromising the club’s short-term objectives and sustainability.

The report noted a point of caution as current liabilities double those of current assets, requiring “meticulous financial management, particularly concerning external financing and banking relationships”.

Varandas' was first elected President in September 2018, with the club facing severe financial difficulties. Under his charge Sporting has achieved a resurgence, winning a domestic football championship in 2021 and also achieving a variety of national and international titles across other disciplines, including futsal, roller hockey, judo, and athletics.
 

Arsenal CEO Vinai Venkatesham to step down next year

Vinai Venkatesham, the Arsenal chief executive, has announced he will leave the club next summer after 14 years at the Emirates Stadium.

Venkatesham will end a lengthy association with the club, whose commercial department he joined in 2010. He was appointed chief executive in September 2020, following a time of huge change at executive level.

He played a major role in helping Arsenal to navigate the challenges of the coronavirus pandemic and, alongside sporting director Edu, has overseen the rebuild of the first-team squad following the appointment of Mikel Arteta as manager.

“This was a tough decision, but it is time to pursue another challenge,” Venkatesham said. “Now is not the time for goodbyes as I remain focused until my last day and supporting a seamless transition.”

Drive the club forward

Josh Kroenke, the club’s co-chairman, said “change and succession is something the club is well prepared for. The Board remains committed to our strategy and will address leadership change as we continue to drive the club forward.”

Venkatesham was made managing director of Arsenal following the departure of chief executive Ivan Gazidis in 2018. He then worked alongside Raul Sanllehi, the club’s then-head of football, before Sanllehi’s sudden departure in August 2020.

 

Manager who bet £1 million spared sanction by FA investigators

An investigation carried out by The Athletic has revealed that a football manager, known only as "Manager A" for legal reasons, has been covertly spared any substantial punitive action despite gambling close to £1 million, including bets on his own sport. This comes as Brentford striker Ivan Toney is serving an eight-month suspension for similar offences.

Manager A was embroiled in a court case last year where he confessed to being a gambling addict. Although a majority of his bets were placed on horse racing, he also violated FA rules by betting on football. The manager held eight betting accounts and incurred losses of £270,000 over two years. Despite this, the FA has opted merely to issue a warning, purposefully keeping this decision away from media scrutiny.

The manager’s case was in part complicated by legal anonymity, a result of a trial involving former footballers Alan Rogers and Steven Jennings, who were accused of blackmailing him. The case was eventually dropped after Manager A decided not to proceed with the trial.

It remains unclear if the manager’s state of mind played any role in the FA's leniency. However, the contrast with other similar cases is glaring. Ivan Toney, for instance, is currently under an eight-month ban for 232 breaches over a four-year period. Newcastle United's Jack Colback was fined £25,000 for a single bet on a Champions League match. Kyle Lafferty faced a £23,000 fine for one bet on two Spanish games.

FA silence

The FA has yet to offer any explanation or context for their decision, reinforcing concerns about whether the governing body is willing to squarely address issues that compromise the sport's integrity. Rogers, for his part, is understood to be initiating legal proceedings against Manager A to recover legal costs from the abandoned trial.

Its apparently inconsistent application of its self-professed "zero-tolerance policy" has led to increased scrutiny and calls for transparency. Questions are inevitably being raised about the governing body’s priorities at a time when sponsorship deals with bookmakers permeate the sport.

Juventus are set to post a €110 million loss for the 2022/23 financial year after the club’s parent Exor reported a €81 million deficit for the second half of the year ending June 30th 2023.

Juventus had previously reported a €29.5 million loss for the first six months to 31st December 2022. The Turin club are expected to officially release their results for the full 2022/23 financial year later this month.

Sixth consecutive annual deficit

If the losses were confirmed, it would be the sixth consecutive annual deficit for Juventus after losses of €239.3 million in 2021/22, €209.9 million in 2020/21, €89.7 million in 2019/20, €39.8 million in 2018/19 and €19.2 million in 2017/18.

Exor owns 63.8 per cent of the shares and 77.9 per cent of the voting rights at Juventus.

 

FC Barcelona unveil Deco as sporting director as part of new structure

FC Barcelona have officially unveiled Deco as the club’s new sporting director as part of a new structure for the playing side of the club.

In a statement, Barça said the former midfielder will work closely with head coach Xavi, while Bojan Krkic is to be the new football coordinator, responsible for monitoring the youngsters at the club’s La Masía academy with the head of youth football, Jose Ramon Alesanco.

The statement added: “Deco will also be working with Paulo Araujo on scouting and his managing director will be Franc Carbó.” The club said the structure and new appointments will be “supported by the Sporting Commission chaired by Joan Laporta and formed by Rafael Yuste, Joan Soler, Deco, Enric Masip and Bojan Krkic.”

Criticism of previous transition

At a press conference held to announce the changes, Deco confirmed that he would be taking over duties from both Jordi Cruyff, his predecessor, and director of football Mateu Alemany, who has also left the club.

The Brazilian-Portuguese also admitted that from a distance the club did not handle well the transition away from their historic team under Luis Enrique.

“I think everything is a phase of transition,” he said. “Barça has had the best years with the generation of Messi, Pique, Busi [Busquets] … The generation that has made the most impact. They are players who have given a lot to the club.

“As a club, transitions are always difficult and if you don’t do them well it is difficult. Teams are not eternal. I was not here on the inside, but I believe that looking at it from the outside, the transition has not been handled well. They took too long to react when there were players at an older age.”

 

VfL Bochum MD Ilja Kaenzig: Football faces threat to its “core business" from climate change

VfL Bochum managing director Ilja Kaenzig has warned that football’s “core business" is under threat from the climate crisis as the likelihood of matches being affected increases.

Speaking at an event in Berlin on the topic of sustainability in professional football, Kaenzig said: "Torrential rains or droughts mean that training sessions can no longer be held or games have to be postponed."

In July, fellow Bundesliga club VfB Stuttgart cancelled their training camp in Austria due to persistent heavy rainfall and unplayable surfaces, while in June the European Championship qualifier between Scotland and Georgia came close to being abandoned after a delay of around 100 minutes due to a waterlogged pitch.

Kaenzig warned that matches, football’s most important asset, “are in danger” due to the growing frequency of extreme weather events.

Sustainability criteria for DFL licensing

Last year, the German football league (DFL) introduced minimum environmental sustainability criteria in the licensing requirements for its 36 professional clubs, although a number of teams had already been undertaking relevant initiatives.

DFL CEO Steffen Merkel said: "A lot has happened at the clubs and also in the DFL. We have to take responsibility and use our reach in a positive way."

 

Parma to invest €138 million in Tardini stadium revamp

Parma have finalised plans for the revamp of the Tardini stadium with local authorities and are to invest €138 million in the project, according to Calcio e Finanza.

In a statement, the club said it has presented the final design for the refurbished venue to the Municipal Administration of Parma, and declared that it will be a “sports facility of high international level to be built in the area of the current Tardini.”

The new home of the Italian Serie B team will have 20,986 seats and all the stands will be covered. It is understood the investment in the renewal of the stadium, which is owned by the City of Parma, will be entirely borne by the club in exchange for its operation for 90 years.

The stadium inaugurated in 1924 will be completely remodelled, and the club emphasised that "the pitch will be perfectly visible from all points", in contrast to the current venue.

The new ground will also feature a special catering service, and extra facilities providing access for disabled fans. It will be built using eco-sustainable materials and photovoltaic systems.

Large areas for use on non-match days

The project also includes the updating of the club's museum and the official Parma store. In addition, the venue will have large areas that could be used for other events and activities on non-match days.

The club estimates the stadium works will be completed by 2025, and for the next two seasons it has committed to building a temporary ground near the Tardini stadium where they will play their home matches.

 

Reading deducted three points for failing to deposit wages

Reading have been docked three points after the EFL League One club’s owner failed to deposit enough money into an account to cover the club's monthly wage bill.

Owner Dai Yongge was told by the EFL in August to put 125 per cent of the wage bill into a designated account by Tuesday. In a statement, the EFL said he failed to meet the deadline, triggering the suspended points deduction with immediate effect.

Reading had received a one-point deduction in August after failing to pay their players’ wages in April, as well as last October and November, with a further three points suspended.

The EFL said: “As a result of this latest instance of non-compliance by the Club’s ownership, the suspended sanction has been activated and, as per the Commission's instructions, applied by the EFL to the League One table with immediate effect.”

“Extremely disappointed and frustrated”

The EFL added that it “continues to acknowledge the negative impact sporting sanctions are having on the Football Club and remain extremely disappointed and frustrated at the Club’s ownership to meet its ongoing obligations under EFL Regulations. The League will continue to apply its rules in all circumstances deemed appropriate.”

Having now been docked four points in total this season, Reading have dropped to 21st in the League One table on two points.

FC Barcelona’s plans to list their digital unit Barça Media on the Nasdaq Stock Market later this year have been thrown into doubt after the club issued a warning to the US Securities Exchange Commission (SEC).

In an official communication to the body, Barcelona acknowledged that it has been forced to modify the terms of the contract with its partner, the Swiss private equity fund Mountain & Co, after the default of investors who had committed to inject €40 million into the digital subsidiary.

In August, Barcelona resold 29.5 per cent of Bridgeburg Invest, which controls Barça Vision – which is to be merged into Barça Media –to German investment fund Libero and Dutch investment fund NIPA.

That deal was in exchange for €120 million, and came after Orpheus Media and Socios, the original buyers of two 24.5 per cent stakes of Barça Vision, did not pay the full amount they were expected to on time, only footing the initial payment of €60 million.

Libero and NIPA were due to pay €60 million by the end of August, and the investors put up an initial €20 million several weeks after the deal, but Barcelona are still said to be waiting on the remaining €40 million.

Valued at €1 billion

The plan has been to launch the digital unit on Nasdaq through the creation of a special purpose acquisition company (SPAC), with Barcelona keeping an 80 per cent stake in Barça Media, while the SPAC would own the remaining 20 per cent. The transaction would value the unit at around €1 billion.

Barça Media runs Barcelona’s entire digital operation, including its online video business and the property rights of the club’s brand on digital supports and e-sports.

 

Everton takeover talk quashed ahead of £100 million loan confirmation

Speculation about an “imminent” and “dramatic” takeover of Everton by Miami-based 777 Partners has been played down by multiple sources with knowledge of the matter, reports Senior Correspondent James Corbett.

Multiple media outlets have reported that the club’s majority shareholder Farhad Moshiri is close to a deal with the group, which is majority owner of Hertha Berlin, Genoa and Vasco Da Gama.

777 and its financial advisors, Tifosy, would not comment on the record, but played down talk that a deal was imminent. Other sources with intimate knowledge of Everton’s finances and search for investment noted their surprise at the reports, and said they were wide of the mark.

Moshiri, who has not attended an Everton home game since October 2021, has been looking for outside investment or a sale for the past 18 months. Everton are in the process of an ambitious new stadium build, while the British-Iranian billionaire has faced challenges with his own liquidity following Russia’s invasion of Ukraine, with many of assets tied up in Russia.

MSP loan agreement

Last month a period of exclusivity with MSP Sports Capital, who were seeking an initial 25 per cent investment in the Merseyside club, lapsed. An existing charge on assets by Rights and Media Funding was understood to have waylaid that deal.

“The reality is that Moshiri needs to sit things out until the new stadium, or to have an oil sheikh come in and sweep existing obligations away,” said one source.

Pointing to a €200 million fundraise that was launched in the summer, the source added: “I don’t think 777 have access to those sort of amounts.”

Everton have nevertheless proceeded with a loan agreement with MSP and a regulatory filing confirming MSP Sports Capital have provided over £100 million in loans to Everton Stadium Development Holding Company is expected to become public in coming days. The loans will provide cashflow on the Bramley Moor Dock project, which is due for completion next year.

It is understood these funds were transferred to the company over several tranches between May and August this year. An Everton spokesperson confirmed in a brief media statement that a loan had been secured in late August, but confirmation of its source and amount has not yet been a matter of record.
 

 

Manchester United ‘in advanced talks’ with Qualcomm over £60 million shirt sponsorship deal

Manchester United are in advanced talks over a new front-of-shirt sponsorship agreement with the American technology company Qualcomm, according to The Athletic.

United are believed to be targeting a deal worth £60 million. It is highly unlikely the agreement would come into force this season, given that many replica shirts will already have been sold, and therefore it would be expected to commence in time for the 2024/25 campaign.

United have an existing relationship with Qualcomm, having announced a deal in August 2022 to promote Qualcomm’s subsidiary brand Snapdragon, which powers many of the world’s premium smartphones, PCs, gaming devices, connected cars and smart wearables.

As part of that deal, Qualcomm also agreed to advise United on planned improvements to mobile connectivity at Old Trafford, in order to enhance fans’ experience on match days.

TeamViewer agreement

United have been searching for a new front-of-shirt sponsor since TeamViewer, a Germany-based software firm, announced last year that it did not intend to renew its deal with United a five-year agreement which began in 2021 worth £47 million per year.

Before TeamViewer, United had a £64 million-per-season deal with US car manufacturer Chevrolet that began in 2014.

 

LFP targets €800 million per year from domestic media rights tender

France’s Professional Football League (LFP) has revealed details of its domestic media rights tender for Ligue 1 and Ligue 2 for the next five-year cycle, running from 2024/25.

LFP has presented two lots on offer totalling €800 million per year. The first lot, worth €530 million, is for three games per gameweek, including the Sunday evening premium fixture.

The second lot is for the other six games, as well as those of the last two gameweeks, and the annual Trophée des Champions, played between the Ligue 1 champions and Coupe de Francewinners.

Scheduling tweaks

LFP managing director Benjamin Morel outlined some tweaks in the scheduling of Ligue 1 games from next season onwards. The unpopular Sunday lunchtime slot will be replaced with a Saturday 7pm slot, while the three 3pm Sunday games will start two hours later at 5pm. Only one Ligue 1 game will start at 3pm on a Sunday. The Friday, Saturday and Sunday evening fixtures are retained.

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

VfB Stuttgart have reported a loss of €16.6 million for the 2022 financial year, running from 1st January to 31st December, with the club pointing to the continued impact of the Covid-19 pandemic as the key factor.

The result follows deficits of €1.2 million in 2021 and €28.4 million in 2020. The Bundesliga club suffered the loss despite generating total revenues of €154.8 million, up €6 million on the previous year. Expenses amounted to €171.4 million.

VfB chairman Alexander Wehrle said that as well as the ongoing impact of Covid, spending on the upgrade of the club’s stadium contributed to the negative outcome.

However, he added that the club is aiming to break even in 2023 as it continues to recover from the pandemic, and also benefits from the completion of the stadium upgrade and the naming rights deal agreed with MHP.

Attempt to remove club president Claus Vogt fails

Stuttgart’s latest financial results were announced at the club’s AGM held over the weekend. During the meeting, a proposal to remove club president Claus Vogt failed to receive sufficient backing, with only 28 per cent of the 1,113 voting members supporting the move.

Vogt stood accused of violations of data protection, lack of communication and transparency in the course of his work in the club committees. However, the president defended himself in a fiery speech against what he said were “baseless allegations".

 

AC Milan opt for Manica to design new 70,000-seat stadium

AC Milan have chosen American architecture firm Manica to design their new 70,000-seat stadium, which is due to open in 2028 or 2029, La Gazzetta dello Sport reports.

Manica, which specialises in the design of sport and entertainment venues, has previously worked on the new Wembley Stadium, and its current projects include the revamp of the Camp Nou, which is due to be completed in 2025, and Miami Freedom Park, the new home for Inter Miami, due to open in 2024.

Manica will work alongside US-based management consulting firm CAA Icon and its founder Tim Romani, who has left CAA Icon to become responsible for the stadium project on behalf of AC Milan.

CAA Icon and Romani have in the past contributed to the building of the Allegiant Stadium, home to NFL team Las Vegas Raiders, and the Chase Center in San Francisco, home to NBA team Golden State Warriors.

Two tiers instead of three

According to La Gazzetta dello Sport, AC Milan’s new stadium will 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.

 

RFEF confirms Rubiales resignation as president

The Spanish Football Federation (RFEF) has confirmed that Luis Rubiales has stepped down as president following his kiss of Jenni Hermoso during the medal ceremony at the Women’s World Cup final in Sydney.

RFEF issued a brief statement on Monday confirming that Rubiales has submitted his resignation through a letter to interim president Pedro Rocha.

The statement followed the release on Sunday evening of a clip from an interview on Piers Morgan Uncensored, in which Rubiales said “he can’t continue” in his position. “I am going to [resign] – of course I cannot continue my work,” he said. The full interview is due to be aired on Tuesday.

Rubiales later released a statement confirming his resignation as RFEF president, and from his role as a UEFA vice president.

“After the swift suspension carried out by FIFA, plus the rest of the proceedings opened against me, it is clear that I will not be able to return to my position,” he said.

2030 World Cup bid

Rubiales added that he hopes his resignation will boost Spain’s joint bid with Morocco and Portugal to host the 2030 World Cup.

A number of Premier League clubs have asked the UK government to block nation states from owning English football teams, according to a report from The Guardian.

It is understood the request could potentially form part of the brief of the new independent football regulator, which the government confirmed last week would arrive “when parliamentary time allows”.

During the government’s seven-month consultation process over the plans for a regulator, it is understood that some leading top-flight clubs individually lobbied the government on state ownership, a process separate to any Premier League submissions.

Owners’ and directors’ test

Assessing the suitability of prospective owners and directors will be one of the regulator’s key roles.

The government said its consultation process had revealed support for an “ethics and integrity” component within any owners’ and directors’ test (ODT) and that “some stakeholders suggest that the ODTs should limit state ownership”.

The Premier League did not mention state ownership when it updated its own ODT this summer. An apparent split between the league and some of its clubs follows the takeover of Newcastle United by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), in October 2021.

 

FIFA: Summer spending on international transfers reached record $7.36 billion

The total amount spent on international transfers this summer reached a record $7.36 billion, up 47.2 per cent on last year’s summer window and 26.8 higher than the previous record set in 2019, according to FIFA’s latest International Transfer Snapshot.

The analysis, which covers the period 1st June – 1st September 2023, showed that England was the top spender, shelling out $1.98 billion on international transfer fees, while also having the highest number of incoming transfers (449) and the most outgoing transfers (514).

Germany, however, was the number one in terms of receipts from transfer fees, with $1.11 billion. Emilio García Silvero, FIFA’s chief legal & compliance officer, noted that this was “the first time ever that clubs from a single association have received more than $1 billion in the mid-year transfer window alone.”

Saudi Arabia second biggest spender

Saudi Arabia was the number two in spending, with a total of $875.4 million, ahead of France ($859.7 million), Germany ($762.4 million), Italy ($711 million) and Spain (US$405.6 million).

As a result of the Saudi transfer activity, clubs from the AFC region accounted for 14 per cent of the global transfer spending, marking the first time that teams from a confederation other than UEFA have surpassed 10 per cent of the total.

Agent fees also reached a new high, with $696.6 million paid during the summer window, bringing the total for 2023 to date to $853 million, 36.9 per cent higher than in the whole of 2022 and more than in any other year.

 

Benfica return to profitability with €4.2 million surplus for 2022/23

Benfica have reported a €4.2 million profit for the 2022/23 financial year after two successive years of losses driven by the impact of the Covid-19 pandemic.

Turnover reached €195.8 million, up 15.6 per cent on the previous year. Prior to the pandemic, the club had achieved a profit each year since 2013/14.

UEFA prize money rose by €8.9 million, while ticketing revenues were up €5.8 million, sponsorship income rose by €3.7 million and corporate hospitality revenues grew by €2.7 million.

Profit on player sales reached €63,7 million - primarily from the transfer of World Champion Enzo Fernandez to Chelsea.

Expenses reach €245.8 million

Total expenses amounted to €245.8 million, a rise of 1.3 per cent on 2021/22, and marking a CAGR of 7.7 per cent over the last five years, in line with the CAGR in operating income over the same period, which was also 7.7 per cent.

The total wage bill only increased slightly from €112.6 million to €114.7 million.

Net debt at the close of 2022/23 was €140.8 million, down 4.3 per cent on the previous year. This was equal to 48.5 per cent of Benfica’s total income, compared with 53.4 per cent at the end of 2018/19.

 

Borussia Dortmund CFO Thomas Tress questions PSG and FFP over Neymar Saudi sale

Borussia Dortmund chief financial officer Thomas Tress has suggested Paris Saint-Germain secured an unfair advantage in the transfer market by selling Brazilian forward Neymar to Saudi Premier League club Al-Hilal, according to a report from The Athletic.

It is understood that during a meeting of elite clubs at last week’s European Club Association (ECA) General Assembly in Berlin, Tress questioned whether UEFA’s Financial Fair Play rules were being applied effectively and stunned those present by highlighting PSG’s deal with Al Hilal for Neymar, which was worth in excess of £80million.

According to sources in the room who spoke to The Athletic, Tress appeared to be arguing that the Saudi cash had distorted the transfer market by disproportionately allowing certain clubs such as PSG a way out of tight FFP restrictions and enabling the French club to raid European rivals for talent.

Confronted afterwards

PSG president and ECA chairman Nasser Al-Khelaifi was not present in the room at the precise time of Tress’ comments but was informed and confronted him afterwards.

Al-Khelaifi felt Tress had embarrassed him by making the comments in front of other clubs and said that if there is a problem, it should be discussed amicably between the parties in private. The two clubs in general consider themselves to have good relations.

The Dortmund CEO Hans-Joachim Watzke subsequently called Al-Khelaifi to apologise. The Bundesliga club have not sold any players to the Saudi Pro League during the summer window.

 

Elliott files legal claim against Blue Skye over AC Milan sale dispute

AC Milan’s former owner, the American investment fund Elliott Management, has launched legal proceedings in Luxembourg against minority club investor Blue Skye Financial Partners over its challenge to last year’s takeover by RedBird Capital Partners.

Elliott have brought a writ of private criminal prosecution, called "citation directe" in Luxembourg, and is accusing Blue Skye and its representatives of offences including blackmail, extortion and fraudulent misrepresentation to support its legal actions against the sale.

According to Luxembourg law, a person who believes they have sufficient evidence can sue someone directly before a criminal court, without the public prosecutor's office opening an investigation. It is then up to a judge to decide directly on the merits of the case.

In documents seen by Reuters, Elliott alleges Blue Skye made threats in order to obtain undue financial concessions and filed untruthful documents in its claims to mislead judges to get decisions in their favour.

Blue Skye representatives have been called to appear before the Luxembourg Court on 24th November, according to the writ of summons.

In a statement to Reuters, Blue Skye billed Elliott's claim as "a groundless unilateral action" and an "an attempt to circumvent" the pending legal proceedings set up by Blue Skye.

Court action to block sale

Blue Skye, holding an indirect stake of 4 per cent in AC Milan, initiated court action to block the sale to RedBird or obtain damages in the US, Italy and Luxembourg, where the vehicles owning the club were based.

Blue Skye accused Elliott of violating its rights by engaging in several months of "behind closed doors" talks to sell to RedBird. However, Elliott has called Blue Skye's legal actions as "frivolous and vexatious", meaning it believes they have no reasonable basis in fact or law

European clubs who have sold players to Saudi Pro League teams this year want FIFA to establish regulations that guarantee they will get their money, The Daily Telegraph reports.

The move comes amid fears that late payments could collapse the transfer system, with Saudi clubs having shelled out €878 million in transfer fees this summer.

During behind-closed-doors talks on Wednesday at the European Club Association (ECA) General Assembly in Berlin, some of Europe’s top clubs raised concerns that Saudi Arabia has now become such a major trading partner that it will have to submit to some regulation.

UEFA’s ‘no overdue payments rule’

In Europe, the transfer system is underpinned by UEFA’s ‘no overdue payments rule’ that means clubs must meet their obligations to fellow football club creditors and tax authorities by agreed deadlines.

The system is designed so that one club in financial straits cannot bring down others to whom it is indebted. Should a club fail to meet its transfer fee obligations it will not be licensed to play in UEFA or domestic competition.

However, no such leverage is available over Saudi sides. FIFA operates its transfer matching system (TMS), which oversees the smooth running of the transfer window, but the clubs want tougher guarantees now Saudi Arabia has emerged as a major spender.

 

New Premier League rules to fast-track FFP disciplinary cases within three months

The Premier League has introduced new rules to fast-track Financial Fair Play (FFP) disciplinary cases following anger among clubs that the league’s charge against Everton was not dealt with last season.

As reported by The Times, under the new regulations, the process for any club charged with a standard financial rule breach must be completed within 12 weeks, including an appeal, so that any points deductions apply to the season in which the rule breach takes place.

Only the “most exceptional cases” will not be covered by the new deadline –such as multiple alleged breaches over multiple years, as in the charges of 115 rule breaches against Manchester City made in February.

The rules mean any club this season that breaks the top-flight’s profit and sustainability rules (PSR), which restrict losses over three seasons to £105 million, will have the sanction imposed before the end of the campaign.

Relegation rivals

Last season, Leeds United, Southampton, Leicester City and Nottingham Forest, who like Everton were all battling to avoid relegation, failed in a bid to have the Merseyside club’s case dealt with before the end of the 2022/23 season. It will go before the Premier League’s independent commission at the end of next month.

However, it was agreed at the league’s summer meeting in June that a 12-week deadline should be imposed for the future. The league has also agreed to bring forward the date for the submission of annual accounts from March to 31st December.

 

UK government restates commitment to create independent football regulator

The UK government has made a renewed commitment to introduce an independent regulator for English football “as soon as possible” after consulting with clubs and the football authorities.

The intention to set up the new body is underlined in a 52-page consultation response published by the Department for Culture, Media and Sport on Tuesday to its February white paper, “A Sustainable Future – Reforming Club Football Governance”.

The move follows the fan-led review led by former sports minister Tracey Crouch, which recommended the creation of an independent regulator when its report was published in November 2021.

Consultation process

After months of concerted lobbying and a seven-month consultation process, the government has said it has listened to everybody – and has concluded that independent regulation is required.

Culture secretary Lucy Frazer said: “Our football clubs are the lifeblood of communities and the envy of leagues around the world. We want to see them protected for fans now and in the future.

“Today we outline our plans to make sure the new regulator for football is independent, and remains true to its central mission to safeguard these community assets and help the beautiful game continue to grow in England.”

However, as reported by The Athletic, there are still several details to be decided. The government says, for example, that it is “minded to set up a new body to house the regulator” but “all options remain under review” and it will continue to consult experts on the matter.

Berlin: UEFA and the European Club Association (ECA) have renewed their memorandum of understanding (MOU), extending the partnership between the European governing body and ECA until 2030.

The agreement was signed by UEFA president Alexander Čeferin and ECA chairman, Nasser al Khelaifi, on the sidelines at the ECA’s biannual General Assembly yesterday in the German capital.

The MOU deals a blow to the nascent Union of European Clubs (UEC), a rival body launched on a one member one vote platform earlier this year as it says that UEFA will continue to recognise ECA as “the sole body representative of clubs at European level”.

ECA said in a statement that the agreement “further strengthens” the relationship between ECA and UEFA. ECA claims membership of almost 500 clubs, although only around half of those clubs were in attendance in Berlin, and less than a quarter have full voting rights.

Al Khelaifi, in his address to the General Assembly, listed a number of achievements the two bodies he says have jointly attained over the duration of the current deal.

Healthy growth

Under the terms of the new MoU, ECA’s representation in UEFA bodies will be maintained in existing committees and be further extended to various new ones.

Čeferin said that the relationship between UEFA and the ECA would bring “continuity, stability and healthy growth that will benefit every corner of Europe.”

UEC said in a statement that it was “very concerned” that European football “has not developed on the basis of an adequate governance model”. It said that its one club, one vote platform was the “very basic principle of democracy”.

It also emerged that the Belgian club Union Saint-Gilloise were blocked from renewing their ECA membership after signing up to UEC.

 

UEFA approves €1.4 billion three-year solidarity deal

Berlin: UEFA has agreed to increase solidarity payments to clubs that don’t compete in its club competitions in a deal that could be worth nearly half a billion euros each season over the next three years.

The deal will see a total of around 10 per cent of UEFA Club competition (UCC) revenues for the broadcast cycle that begins next year given to non-competing clubs, up from 7 per cent in the existing cycle.

UEFA is targeting broadcast deals worth €4.8 billion annually from 2024/25 when its new broadcast cycle starts.

The solidarity payments consist of 3 per cent payable to clubs that fall in qualifying rounds for UEFA competitions and 7 per cent to those that don’t partake at all. The solidarity money is distributed by league bodies across Europe according to their own formulas. Until the end of this season non-competing clubs take 4 per cent of the broadcast pie.

"Unbalanced model"

The deal follows lobbying by the European Leagues, an influential body that represents 35 professional leagues across Europe, to increase the share to 10 per cent for non-competing clubs.

In 2021/22, the last season for which data is available, non-qualifying clubs shared €171.8 million between them (4.75 per cent), while those that played in European Club Competition shared €2.732 billion (75.6 per cent).

In a research paper it produced earlier this year European Leagues argued that current prize distributions provided an “unbalanced model” in which the financial gap between participating clubs and non-participating clubs has “been growing constantly, causing a mounting distorting effect on domestic competitive balance.”

Following the approved solidarity deal, the Union of European Clubs (UEC) has issued a statement in which it "welcomes the announcement by UEFA to adjust the criteria and current model of revenue distribution from UEFA Club Competitions starting in 2024/25."

 

Manchester United share price drops 18.2 per cent after report claims Glazers will take club off market

Manchester United’s share price has fallen by a record amount amid speculation that the Glazer family are planning to halt their attempts to sell the club.

Shares in United, which are listed on the New York Stock Exchange, fell from $23.66 when trading closed on Friday ahead of the Labor Day weekend, to $18.83 when trading resumed on Tuesday, before recovering slightly to close at $19.35.

The price dropped back once again in morning trading on Wednesday, and was $19.16 at 1pm New York time.

The fall on Tuesday represented a drop of 18.2 per cent – the biggest decline in the share price since the club was floated in 2012. The previous biggest fall came in March 2020, when shares dropped by 14 per cent as the Covid-19 pandemic shut down global sport.

The cause of Tuesday’s drop in value, which saw United’s market capitalisation decline by almost $700 million, is widely viewed as being a report in The Mail on Sunday published over the weekend which claimed the Glazers are not going to sell United.

Doubled in a week

When the club was put up for sale last November, United’s share price almost doubled in a week from the $12-14 range it had been trading in for most of 2022, to more than $22.

The Glazers had initially hoped to attract multiple serious bidders but only two emerged: Sheik Jassim of Qatar, who wanted to acquire the entire club, and British billionaire Sir Jim Ratcliffe, whose offer would have left the American family with a minority stake.

The Mail on Sunday reported that the Glazers plan to put the club back up for sale in 2025 when they believe their valuation of £7-10 billion will be met.

 

Mediapro president Jaume Roures: LFP target of €1 billion per year for next media rights cycle ‘not possible’

Mediapro president Jaume Roures has dismissed the chances of France’s Professional Football League (LFP) earning €1 billion per year from its domestic and international media rights in the next cycle, which runs from 2024/25.

LFP president Vincent Labrune has previously claimed the €1 billion figure is achievable for the new cycle, which runs from 2024/25, despite the “macroeconomic and financial context” being “delicate”.

However, in an interview with RMC Sport ahead of the launch of the rights auction next Tuesday, 12th September, Roures said: “No, I don’t think that’s [€1 billion] possible. The market situation is difficult. We must also look at the economic situation and the role of Ligue 1 among the European leagues.”

He added: “We could see in Italy with the call for tenders, where they asked for a little over a billion and they did not achieve this result. The process is still ongoing. The sports rights market is still in a difficult situation.”

The LFP is targeting €863.7 million per year from domestic rights in the new cycle, up 30 per cent on the €662.6 million earned at present, and €200 million per year from international rights, compared with an average of €80 million per season for the current cycle.

Roures argued that the international target is “far from realistic” given the departure of high-profile players such as Lionel Messi and Neymar from Ligue 1 this summer.

Collapse of €3.3 billion deal

The Mediapro president was speaking less than three years after the collapse of his company’s €3.3 billion deal with the LFP, which plunged French football into a crisis it is yet to recover from.

Roures confirmed Mediapro would not be submitting an offer in the latest tender, but said “France is not finished for us as a business”, hinting at potential production and media rights sales roles it has elsewhere in Europe.

 

Chelsea ‘pitched shirt sponsorship deal’ to Saudi airline Riyadh Air

Chelsea executives have held talks with representatives from Saudi state airline Riyadh Air about a potential front-of-shirt sponsorship deal, according to a report from The Athletic.

CEO Chris Jurasek was among a number of Chelsea officials who hosted a Riyadh Air delegation at Stamford Bridge for Saturday’s 1-0 defeat to Nottingham Forest. It is understood the club then pitched to the airline about a multi-year sponsorship deal for the men’s and women’s teams.

Riyadh Air, which already sponsors Atletico Madrid, is owned by Saudi Arabia’s Public Investment Fund (PIF). The Crown Prince Mohammed bin Salman announced the formation of the new airline in March, which has still not flown a plane and does not plan to do so until 2025.

Chelsea’s shirts have been blank so far this season as the club attempts to replace mobile network Three. There have been negotiations with sports data company Infinite Athlete, but the deal is still awaiting approval from the Premier League.

Betting website also a contender

Another contender to be the Chelsea front-of-shirt sponsor is believed to be the betting website Kaiyun Sports, which announced a deal with Nottingham Forest last week.

Kaiyun Sports appears to target customers in China – where gambling is illegal – and accesses the UK market via a “white label” agreement with a company on the Isle of Man. It is unclear what country Kaiyun is based in or who its owners are, which is extremely unusual for a sponsorship deal of this prominence.

Chelsea are reassured, however, by the fact Kaiyun have existing deals with Real Madrid, Crystal Palace and Inter Milan, while the betting firm already has a partnership deal with Chelsea and was displayed on the billboards at Stamford Bridge on Saturday.

(Berlin) Delegates from more than 200 leading European clubs converge on the German capital today ahead of two days of meetings that will define the political balance in European club football for the next few years, reports Senior Correspondent James Corbett from the European Club Association (ECA) General Assembly.

Delegates at the biannual ECA General Assembly are expected to reappoint the Paris Saint Germain president Nasser al-Khelaifi as its chairman on Thursday, following elections to the ECA board today. Leading football officials including the Manchester City CEO Ferran Soriano, the Olympique Lyonais owner, John Textor, and Bayern Munich CEO Jan-Christian Dreesen, are standing for election to the ECA board later today. Also up for election is the Shakhtar Donetsk president, Serhei Palkin, who has previously endorsed the rival Union of European Clubs (UEC).

Super League rupture

Other key topics up for discussion over the course of the next two days include distribution of UEFA club competition prize money, a central issue in the European football landscape. Disagreements over how the last pot of European prize money was distributed culminated in the Super League plot, in which twelve rebel clubs simultaneously quit the ECA and formed a rival competition to the Champions League. Although the plot collapsed after three days, the rupture remains deep and three of those clubs – Real Madrid, Barcelona and Juventus – have never re-joined ECA.

Al Khelaifi will tell delegates in his keynote speech this afternoon that the ECA has come “a long way” since April 2021. “Today, we are a dynamic, democratic and inclusive institution – seeking influence and a voice for the many, not the few,” he will say.

 

Negreira case: Judge probes potential ‘systemic corruption' within referees committee

The judge set to rule on the Negreira case believes that FC Barcelona’s payments to the former referee Jose Maria Enriquez Negreira may have caused "systemic corruption" within the Technical Committee of Referees (CTA) of the Spanish Football Federation (RFEF), Spanish media have reported.

In court documents seen by Spanish media, Aguirre acknowledged that there is no evidence of payments being made by Negreira to referees "for a specific match" but said what does need to be investigated is how referees were assigned certain games.

Aguirre noted that is needs to be discovered whether a “system of qualification of referees supervised by vice-president Negreira was established within the CTA that could allow referees related to him to direct relevant league and cup matches and international matches, or even maintain the category, thus increasing their income very significantly."

LaLiga clubs can join proceedings

Separately, Aguirre has also indicated that other LaLiga clubs have the right to be part of the legal proceedings as injured parties. He declared that if indeed “systemic corruption” is proven, then all LaLiga clubs could consider themselves injured parties, ratifying their right to be part of the case.

The central allegation in the case is that Negreira, who was vice-president of the Spanish FA’s refereeing committee from 1993 to 2018,received more than €7 million in payments from Barcelona via his company Dansil 95 between 2001 and 2018 to influence match results. Both Barcelona and Negreira have denied any wrongdoing.

 

Michael Verschueren resigns from Anderlecht board of directors

Anderlecht have announced that Michael Verschueren has resigned from the club’s board of directors as he prepares to take on a new role in “international football”.

In a statement, the Belgian Pro League club said: “Michael will soon take on a new challenge in international football that requires complete independence. This new professional challenge is therefore irreconcilable with his role as a director at our club.”

Verschueren has been a director at Anderlecht since 2010 and was also a long-time shareholder of the club. In addition, he has represented Anderlecht and Belgian football at the European Club Association (ECA) since 2013.

From November 2018, Verschueren was the club’s sporting director for a year and a half, when he pulled off the unlikely stunt of bringing Vincent Kompany back to Anderlecht as player-manager in the spring of 2019.

After that, Verschueren then returned to his role as a director of the club and his work as an executive board member at the ECA, where he chairs the finance department.

End of an era

Verschueren’s departure marks the end of an era for Anderlecht. His father Michel, who died last year at the age of 91, was general manager from 1980 to 2003, and oversaw the modernisation of the stadium and the winning of eleven league titles, three cups, and the UEFA Cup in 1983.

As Michel gradually took a back seat in the running of the club, his son Michael took on more responsibility before taking up his role on the board of directors.

 

RFEF sacks women's team coach Jorge Vilda and apologises for "inappropriate conduct" of Rubiales

The Spanish Football Federation (RFEF) has sacked World Cup-winning women's team coach Jorge Vilda as the fallout over the RFEF president Luis Rubiales’ kiss of Jennifer Hermoso at the World Cup final in Sydney continues.

In a statement released on Tuesday, RFEF thanked Vilda for his "extraordinary sporting legacy" but gave no reason for his dismissal and did not mention Hermoso, Rubiales or the scandal.

"The coach has been key to the remarkable growth of women's football and leaves Spain as world champions and second in the FIFA rankings," the RFEF said.

Earlier in the day, in a separate statement by interim president Pedro Rocha, the RFEF apologised for Rubiales's "inappropriate conduct."

In the three-page statement signed by Rocha, the RFEF said: "The damage caused to Spanish football, to Spanish sport, to Spanish society and the values of football and sport as a whole have been enormous.”

Spain’s men’s team condemn “unacceptable behaviour”

Meanwhile, Spain’s men’s national team have condemned the “unacceptable behaviour” of Rubiales. At an impromptu press conference on Monday, Álvaro Morata read a statement on behalf of the squad, which was also released on the RFEF website.

“We want to reject what we consider unacceptable behaviour on the part of Mr Rubiales, who has not lived up to the institution he represents,” it read.

“We firmly and unequivocally stand on the side of the values that this sport represents. Spanish football must be a driving force for respect, inspiration, inclusion, and diversity and must set an example with its behaviour both on and off the field.”

Serie A CEO Luigi De Siervo has suggested the league may opt to launch its own media operation to show matches in Italy live if broadcasters bidding for rights do not improve their offers.

A decision on a deal for the league’s next cycle of domestic broadcast rights has already been delayed until 15th October as bids remain below the €1 billion annual price tag being sought.

Serie A had kicked off a round of talks with DAZN, Sky Italia and MediaForEurope after a first set of bids submitted by the broadcasters was dismissed as too low. The bids are for the five-year cycle starting with the 2024/25 season.

De Siervo has now indicated that the league may go in a different direction altogether. Speaking to reporters at a Serie A event in Milan, he said: "We have the structure to offer matches directly to viewers … we are considering this option. We won't back offers deemed as too low.”

“Neither optimistic nor pessimistic”

Commenting on the prospects of improved bids from broadcasters, the Serie A chief added: “I am neither optimistic nor pessimistic. I am aware of the value of the product and broadcasters must pay for the content for what it is worth."

Under its current three-year deal, Serie A is earning €930 million per year from the sale of its media rights in Italy, with DAZN holding the lion's share.

 

PSG ‘looking for new sporting director’ to replace Campos after eventful window

Paris Saint-Germain are looking for a new sporting director to replace Luís Campos following an eventful summer transfer window, according to French outlet Foot Mercato.

PSG have seen a string of high-profile departures over the summer, including Neymar, Lionel Messi, Sergio Ramos, Leandro Paredes and Mauro Icardi, but have also made 11 new signings.

Among the new arrivals is Randal Kolo Muani, signed on deadline day from Eintracht Frankfurt. Campos was said to have played a key role in PSG pulling off the late move for the French forward.

However, the saga surrounding the future of Kylian Mbappé, who was linked with a move to Saudi Arabia while refusing to extend his contract, proved a major distraction during much of the window.

Maxwell high on the list

The PSG hierarchy are believed to be unsatisfied overall with the work of Campos, who also acts as the sporting director for Celta Vigo.

PSG’s current assistant sporting director, the club’s former Brazilian left-back Maxwell, is understood to be high on the list of potential new candidates for the role.

 

CSD considers challenge to TAD ruling on Rubiales case as it seeks suspension

Spain’s Higher Sports Council (CSD) is considering challenging the ruling of the country’s Court of Arbitration for Sport (TAD) on the Luis Rubiales case, according to Spanish media reports.

On Friday, TAD agreed to open a case against the Spanish Football Federation (RFEF) president over his kiss of Jennifer Hermoso at the Women's World Cup final and gave a ruling on his conduct in Sydney during a tribunal.

However, while TAD declared his actions amounted to "serious" misconduct, it rejected the government’s argument that his offences were “very serious,” preventing his immediate suspension by the CSD, and forcing ministers to request the tribunal to do it instead.

Minister of Culture and Sport Miquel Iceta said on Friday that he would submit a separate complaint to TAD and request for Rubiales to be removed from his post until the investigation is resolved.

Defiant speech

The latest developments have come after the CSD filed a complaint with TAD seeking to remove Rubiales, shortly after his defiant speech at an RFEF emergency meeting on 25th August at which he refused to resign.

The RFEF chief is still refusing to step down but has become increasingly isolated after FIFA handed down a provisional 90-day suspension and the Spanish federation’s 19 regional presidents unanimously called for him to go.