The Europa League round of 16 fixture between FC Midtjylland and Nottingham Forest was not only a clash between two clubs that had surprised during the group stage – Midtjylland by securing an impressive third-place finish, and Forest by struggling. 

It also brought together two of the most active multi-club ownership (MCO) groups of the past five seasons, measured by transfers between clubs within their networks.

According to data from the Off The Pitch MCO database and Transfer Tool, 426 internal MCO transfers, loan or permanent, involving at least one club from a top 25 league have been completed over the past five seasons, with more than €550 million spent.

However, in line with the broader trend of a decreasing MCO expansion since 2023, as revealed by Off The Pitch last week, internal transfer activity is declining. 

This development is directly contrasting with one of the key common strategic rationales behind multi-club ownership which has been gaining a competitive edge in player development through internal transfers.

In line with the broader decline in internal deals, FC Midtjylland have also reduced the transfer activity with their sister club Clube Desportivo de Mafra during this period. After completing 19 deals sending players from Midtjylland to Mafra on either permanent or loan deals within three seasons, only three transfers have been completed in 2025/26, all from Mafra to Midtjylland.

This follows a setback to Midtjylland’s MCO strategy at the end of the 2024/25 season, when Mafra were relegated from Liga Portugal 2 to the third tier.

Claus Steinlein, chair of FC Midtjylland and executive director of the company running the MCO, admits they made mistakes during the second year, and the combination between the playing squad and the coach was not optimal either. But he stresses that they are moving in the right direction.

As Mafra attempt to return to the second tier of Portuguese football this season, no players have joined them from their Danish sister club. Steinlein highlights league restrictions as a key factor. 

“There is a limit of six non-locally trained players in the squad in the third division in Portugal, which has put a natural stop to sending players to Mafra right now,” he says.

Widening the scope to look across the top leagues, internal transfers have declined since peaking in the 2023/24 season, when 103 deals were completed. That figure has since fallen to 82. The number of permanent transfers has remained stable, while loan deals have decreased from 61 to 43.

Similarly, transfer fees related to permanent internal transfers peaked in 2024/25 at almost €200 million but decreased this season to €71 million.

Off The Pitch has also spoken to an MCO based in France. The group has likewise reduced internal transfer activity, although in this case due to financial constraints linked to declining broadcast revenues in French football.

Activity concentrated in key countries

Across Europe, MCO transfer activity is concentrated in a limited number of leagues, with most deals flowing into or out of six countries.

English clubs are the most active exporters, with 125 outgoing transfers to affiliated clubs, accounting for nearly 30 per cent of all internal MCO deals.

In terms of incoming transfers, Belgium leads with 97 internal deals going in to clubs in the top leagues since the 2021/22 season, more than double the totals recorded by Portugal and France. Combined, these three countries account for 45 per cent of all incoming internal MCO transfers among top 25 leagues. 

Until recently, Midtjylland were the only Danish club operating as the clear lead entity within an MCO structure. As a result, internal transfers have had limited impact on the Danish top flight beyond those involving the club. 

Across the past five seasons, 28 internal MCO transfers have gone out from Denmark, with 19 being moves from Midtjylland to Mafra, reflecting the club’s application of the model in a market where the strategy is not widespread.

Supporting European succes

When FC Midtjylland pushed their round-of-16 tie against Nottingham Forest to penalties, five players in the starting XI had previously spent time at sister club CD Mafra in Portugal.

To kickstart the MCO, named The Football Collective, and establish a competitive squad at Mafra, Midtjylland sent several high-potential players to Portugal during the 2023/24 season. Steinlein describes this initial phase as a strong beginning for the project.

“I think we hit the bullseye on a lot of areas during the first year. The right coach, the right squad and the right setup. In many ways, everything clicked,” he says, highlighting the five players now regular starters at Midtjylland who all had a spell at Mafra during the first full season of the partnership. 

This early success illustrates how internal transfers have supported Midtjylland, a club based in a city of around 50,000 inhabitants, in reaching the Europa League knockout rounds in each of the past two seasons.

Keeping gold within internal structures

Beyond first-team development, The Football Collective’s model has also generated transfer value by showcasing players in Portugal. In January 2022, Midtjylland signed Ousmane Diomande from OS Abobo in Côte d’Ivoire. After a brief period with the club’s youth team, he moved to Mafra, where he played for half a season before joining Sporting CP.

The transfer, reportedly worth €14.5 million, became the second-largest sale in Midtjylland’s history, despite Diomande not making a senior appearance for the Danish club.

The ability to showcase players across two clubs is central to offsetting the additional costs of operating multiple teams, while offering greater control and financial upside than relying on external partner clubs, as Midtjylland also have experience with. 

“One of the upsides is that we get the complete transfer fee when selling players, rather than sharing it with a partner club. And in terms of recruitment, we have sometimes been forced to say no to talents because we didn’t have space in our squad. But Mafra adds another opportunity to keep our gold within our own structures,” Steinlein says.

Olympique Lyonnais are moving closer to a sale after Eagle Football Group confirmed the creation of an independent committee to oversee a potential change of control.

The group said on Tuesday the committee will manage conflicts of interest as the club enters a sale process, with shares held by Eagle Bidco at the centre of any transaction. According to French media, existing stakeholders Ares Management and Michele Kang have already positioned themselves as potential buyers.

Eagle added it may share confidential information with interested parties, with further external interest expected in the coming weeks.

Removal of Textor

The ad hoc committee, chaired by Gilbert Saada and including Nathalie Dechy and Victoria Wescott, will oversee the process and may recommend the appointment of an independent expert to assess any offer.

The development follows the appointment of Cork Gully as administrators of Eagle Football Holdings Bidco in March, a move that removed John Textor from control and placed the holding company under restructuring oversight.
 

UEFA commercial revenue to exceed €1 billion after Relevent changes

UEFA are set to generate more than € 1billion a year in sponsorship revenue from their club competitions from next year, following changes to their commercial strategy led by Relevent Football Partners, according to The Guardian.

The governing body, through its joint venture UC3 alongside European Football Clubs, is close to finalising two additional global sponsorship agreements, which would complete its premium partner roster and lift commercial income by more than 40 per cent.

Appointed in 2023 to manage media and sponsorship sales, Relevent has introduced a revised structure for commercial rights, including a limited number of elevated partners with access across all three UEFA club competitions. One source told The Guardian the agency “has ripped up UEFA’s existing sponsorship sales process”.

Commercial restructuring

Under the revised model, four elevated partners receive rights across the Champions League, Europa League and Conference League, while additional packages are sold on a competition-specific basis. The new structure increases the number of matches available for sponsor exposure.

The projected growth in sponsorship revenue adds to rising broadcast income for the 2027 to 2031 cycle, with UEFA forecasting total annual revenues to exceed €6 billion. The changes are expected to increase distributions to leading clubs, amid ongoing debate over competitive balance in European football.
 

Fund acquires Atletico Madrid stake to expand club portfolio

IDC Sports and Entertainment have acquired a minority stake in Atletico Madrid, extending the multi-fund platform’s presence in European football ownership, according to CityAM.

The investment follows the recent majority takeover of the Spanish club by Apollo Sports Capital, with IDC joining the ownership group as a minority investor.

One person familiar with the deal said it reflects IDC’s strategy to build “a portfolio of stakes of varying sizes across several clubs”.

MCO expands

IDC Sports is part of IDC Network, a multi-fund platform founded in Guatemala with operations in the United States and Europe, and has outlined plans to expand its football investments.

The group already hold a minority stake in Leeds United and a majority position in Colombian side Deportivo Cali, and confirmed it partnered with Ares Management on a joint venture to invest in Atletico Madrid.
 

Portuguese professional football revenues exceed €1.1 billion in 2024/25

Portuguese professional football generated revenues of €1.13 billion in the 2024/25 season, surpassing the €1.1 billion mark for the first time, according to the Liga Portugal Yearbook.

The increase was driven by higher attendances and transfer activity. Stadium crowds rose 19 per cent to more than 4.4 million spectators, while income from player sales climbed 49.6 per cent to €636 million.

In the top tier, Liga Portugal revenues reached €1.06 billion. Player trading accounted for more than one third of total income, exceeding broadcast rights (€189 million) and competition revenues (€206 million).

Employment and wages

Employment linked to professional football reached 6,163 jobs, an increase of 39 per cent compared with the previous season. Clubs’ wage spending totalled €457 million.

Liga Portugal said: “Professional football is establishing itself as a strategic activity for the country … with measurable economic and social impact.”

Clubs in Serie A have voted to approve a €300 million settlement agreement with IMG, bringing to a close a legal dispute that has run since 2019.

According to Calcio e Finanza, the amount was proposed by IMG and is due to be paid by June 2026 following a majority vote at the league assembly.

The case stems from a 2019 ruling by Italy’s competition authority, which found an anti-competitive agreement affecting the sale of international media rights between 2008 and 2018. A court-appointed expert had previously assessed damages at €513 million plus revaluation.

Distribution of settlement funds

Settlement discussions between the parties have been ongoing for several months, with the agreement now concluding years of legal proceedings initiated by the league and its clubs.

Distribution of the settlement among clubs remains unresolved, with discussions expected to consider both teams involved during the affected period and those currently competing in the top division.
 

West Bromwich Albion face possible points deduction over alleged P&S breaches

West Bromwich Albion have been charged with an alleged breach of English Football League (EFL) profit and sustainability rules, creating the prospect of a points deduction as the Championship season enters its final weeks.

As reported by The Telegraph, the charge follows an assessment of the club’s financial accounts for the previous reporting period by the EFL’s club financial reporting unit.

Under EFL regulations, any sporting sanction linked to the previous season is typically applied in the following campaign, though West Brom are attempting to delay any punishment until 2026–27.

West Brom dispute allegation

The breach is expected to be minor and only slightly above the limit. Speaking to The Times, lecturer in football finance at the University of Liverpool Kieran Maguire estimated the loss to be about £1.1 million above the £41.5 million threshold.

West Brom said they dispute the allegation, stating: “The club considers that it has fully complied with the P&S rules … and looks forward to resolving this matter,” adding they will continue to co-operate with the EFL.
 

Foley rejects satellite club model and targets Europe with Lorient

Bill Foley has said FC Lorient are equal to AFC Bournemouth within his multi-club structure and outlined plans to invest in a push for European qualification.

Speaking to L’Equipe, the owner moved to address concerns among supporters about the club's role in Black Knight Football Club’s model after taking majority control at Lorient in January, following three years as minority shareholder.

Despite Bournemouth signing Lorient’s top scorer Junior Kroupi last summer, Foley rejected the idea that Lorient would operate as a feeder side. “Lorient isn’t a satellite club to Bournemouth… In my mind, they are equals… Lorient exists on its own as an important partner in our model,” he said.

Investing in European ambitions

The American said the takeover would allow the group to accelerate its ambitions for the Ligue 1 side. Lorient, promoted from Ligue 2 this season, are currently ninth with five games remaining.

Foley added that the club would be backed financially to pursue European competition, stating that participation in either the Europa League or Europa Conference League was a realistic target under the current ownership structure.

South American football body CONMEBOL have publicly backed Gianni Infantino for re-election as FIFA president, becoming the first confederation to call for a further four-year mandate.

The endorsement was issued in a statement on Thursday, in which CONMEBOL’s council cited Infantino’s “leadership” and progress made in football development during his tenure. Infantino has not formally declared his candidacy but is expected to seek another term.

In the statement, CONMEBOL said Infantino’s management had delivered “advances made” in the game, adding that his leadership had supported development across the sport.

World Cup expansion discussed

CONMEBOL position follows discussions within FIFA over a proposal to expand the men’s World Cup to 64 teams in 2030, which was formally presented by South American representatives earlier this year.

The 2030 tournament is scheduled to take place across six countries on three continents, with opening matches in South America and the remainder staged in Europe and North Africa, while FIFA has yet to provide further detail on the proposed expansion.

 

Stéphane Richard appointed president of Marseille

Stéphane Richard has been appointed president of Olympique Marseille, the club have confirmed. The decision was announced by owner Franck McCourt at a press conference on Friday.

Richard will take up the role in July, replacing interim president Alban Juster. Juster has overseen the club since late February following the departure of Pablo Longoria.

Stéphane Richard said in the statement: " It is an honor to be chosen to lead Olympique de Marseille, and I thank Frank McCourt for his trust. I am fully aware of the demands and responsibility that this role entails."

Richard joins with a background in business and public administration, including a period as CEO of Orange, a French telecommunications operator.

New role days before Marseille move

Richard was appointed to a new non-executive position at an international telecommunications group at the end of March, shortly before his Marseille nomination.

He also currently works as a partner at a Paris-based mergers and acquisitions advisory firm, a position he said he will leave at the end of June ahead of formally joining the club.

 

Napoli president De Laurentiis accuses FIFA and UEFA of dishonesty

Napoli president Aurelio De Laurentiis has criticised FIFA and UEFA, accusing both organisations of misleading clubs over how revenues from international competitions are distributed.

Speaking to CBS, De Laurentiis said the governing bodies retain too much income from tournaments and do not pass sufficient funds to clubs, which he argued bear the financial burden of employing players.

“They make too much money, when the earnings should belong to the clubs and not the federations… They say they distribute the wealth, but it's not like that. They lie, they don't tell the truth,” he said.

Compensation demands

De Laurentiis also called for changes to the international calendar, proposing a single two-month window for national team fixtures instead of multiple breaks during the season.

He added that clubs should be compensated when players are called up, including payments linked to salaries and financial protection in case of injuries sustained on international duty, which he said are not currently covered.

KAA Gent have initiated legal proceedings against the Belgian Pro League, seeking a renewed vote on the competition format and aiming to restore a 16-team top division with play-offs from the 2027/28 season.

The move follows a 31 March General Assembly where clubs voted to amend U23 quotas in the second tier, after pressure from the Belgian Competition Authority, but did not revisit the format decision approved in February 2025, which set an 18-team league without play-offs, according to Nieuwsblad.

KAA Gent argue the quotas were integral to securing the required majority for the wider reform package, including the removal of play-offs. The club said the decision was “single and indivisible”, adding that any change to the quotas should trigger a new vote on the full agreement.

Legal basis of format vote

The club has now opened cases at the enterprise court and the Belgian Arbitration Court for Sport, alongside ongoing proceedings at the competition authority, seeking to enforce what it views as the legal requirement for a fresh vote.

KAA Gent stated its objective is a “correct and constructive discussion” and a democratic vote on the format, while maintaining that altering quotas without revisiting the broader decision is not legally acceptable.
 

Real Sociedad report €41.6 million first half profit boosted by player sales

Real Sociedad have reported a profit of €41.6 million for the first half of the 2025/26 season, according to the club’s financial report.

The figure represents an increase of 8 per cent compared with €38.6 million recorded at the same stage of the previous campaign.

The result was driven primarily by profit on player sales, which rose to €74.8 million, largely reflecting the summer transfer of Martín Zubimendi to Arsenal for a reported fee of €70 million.

Revenue decreases

Total revenue declined by 16 per cent to €52.4 million, down from €62.7 million last year. Broadcasting revenue generated €36.2 million, while membership income exceeded €6 million. Commercial revenue reached €5.3 million.

Operating expenses remained broadly stable, with staff costs approaching €50 million and other operating expenses exceeding €20 million.
 

Nike set to secure UEFA ball rights in €40 million a year deal

Nike is in exclusive talks to become the official match ball supplier for UEFA's men’s club competitions from 2027, in a deal expected to exceed €40 million per season, effectively doubling the current agreement, according to the Financial Times.

The agreement would cover the Champions League, Europa League and Conference League for the 2027–2031 cycle, replacing Adidas after more than two decades as supplier.

Adidas confirmed it would not renew its contract, stating it was “proud to have created the most iconic ball range of all time” during its tenure with the competition.

Shift in commercial strategy

The process was managed by Relevent Football Partners on behalf of UC3, UEFA's joint venture with European Football Clubs (EFC) responsible for commercial revenues.

The proposed increase in value reflects broader changes in UEFA's commercial approach, with new sponsorship and media deals contributing to higher overall revenues across its competitions.

Ligue 1 clubs reported combined losses of €466 million for the 2024/25 season, according to the French football financial regulator DNCG, with Olympique Lyon and Olympique Marseille accounting for a large share of the deficit.

The total marks an increase from €164 million the previous year, equivalent to a 184 per cent rise. Lyon recorded losses of €208.5 million, representing 44 per cent of the Ligue 1 total.

Marseille posted losses of €104.7 million, followed by Strasbourg with €78.3 million, Nice with €40.5 million and Paris Saint-Germain with €40.1 million.

Broadcast revenues decline

The results can primarily be attributed to lower domestic broadcast income following changes in rights agreements. The 2024/25 cycle generated around €500 million, approximately €200 million less than the previous deal.

Future distributions remain uncertain under the new Ligue 1+ channel, with revenues expected to fall further.

Lille reported a positive balance of €81 million, while Brest with €6 million, Lens with €4.2 million, Toulouse with €2.2 million and Monaco with €2.9 million also finished in profit.

Leicester City lose appeal against six-point deduction

Leicester City have lost their appeal against a six-point deduction imposed for breaching English Football League profit and sustainability rules.

The sanction relating to the three-year period to June 2024 had been upheld by an independent appeal board and is now accepted by the club.

In a statement, Leicester said: “We acknowledge that an independent Commission’s decision to recommend a six-point deduction on the Club this season has been upheld by an independent Appeal Board. The decision relates to our profit and sustainability position for the three-year period to June 2024 and is accepted by the Club.”

Premier League appeal also rejected

The Premier League said the appeal board dismissed challenges from both Leicester and the league, confirming the original sanction.

It added that the leagues own challenge seeking an increased penalty due to Leicester’s late submission of annual accounts was also rejected by the appeal board.

Serie A explores minority sale of international media rights unit

Italy’s Serie A has approached private equity investors over a potential minority stake in its international media rights business, according to Reuters.

The league appointed JP Morgan last year to review options for the unit, which generates about €250 million annually from overseas broadcasting and related commercial activities.

Sources told that funds including Apollo Global Management, CVC Capital Partners, Ares Management and Sixth Street have been informally contacted ahead of a possible formal process later this month.

49 per cent stake could be sold

The proposed structure could involve selling up to 49 per cent of the unit under a long-term agreement, while any transaction would require approval from at least 14 of the league’s 20 clubs.

Serie A has faced weaker demand for its overseas rights, with competition from the expanded UEFA Champions League and continued global appeal of the Premier League affecting broadcaster interest.

Joseph Tey nears full control of Sampdoria as Manfredi exits

Joseph Tey is close to taking full control of Sampdoria after reaching an agreement in principle with Matteo Manfredi for the transfer of his shareholding, according to Italian media Il Secolo XIX.

The deal would end the current partnership between the two investors and leave the Singapore-based Tey as the sole owner of the club.

Manfredi is set to transfer his 42 per cent stake, with voting rights, in the club’s holding company at no cost.

Investor interest re-emerges

Following the transaction, Tey would become the sole shareholder of Blucerchiati SpA, the entity that controls Sampdoria, consolidating governance under a single owner.

The club’s board structure is not expected to change immediately, although expressions of interest from financial investors have re-emerged as uncertainty around the ownership situation begins to clear.

Sunderland AFC have confirmed they have agreed to sell a majority stake in their women’s team to Bay Collective, a multi-club ownership group backed by U.S. investment firm Sixth Street.

The club said the transaction will see Bay Collective acquire a controlling interest, subject to approval from WSL Football, which oversees the top two tiers of women’s football in England. Financial terms of the deal have not been disclosed.

Sunderland stated the move is intended to support the development of the women’s team, adding that the new investor will take operational control once the process is completed.

Different structure to recent deals

The deal follows a series of transactions involving women’s teams at clubs including Chelsea, Aston Villa and Everton, where stakes have been sold to external investors after internal restructures.

Unlike those cases, Sunderland have not undertaken a prior internal reorganisation of their women’s team. The club confirmed that Sunderland Association Football Club Limited will retain a minority shareholding, while a new UK-based entity linked to Bay Collective is expected to assume control of the women’s team.

Textor proposes $25 million personal investment in Botafogo

John Textor has formally proposed injecting $25 million of his own capital into Brazilian side Botafogo’s SAF, according to a letter sent to the club’s social association.

The American businessman set out the proposal as an equity investment via the issuance of new shares in the club’s corporate entity, rather than a loan. The move comes as Botafogo face financial pressure and seek liquidity to meet short-term obligations, including salary payments.

In his statement, Textor said: “This is an investment, not a loan; in other words, new and healthy money is entering the club.”

SAF structure under pressure

Botafogo operate under a Sociedade Anónima do Futebol (SAF) model, a corporate structure used in Brazilian football that separates the club’s professional operations into a limited company.

The proposed capital increase is intended to support short- and medium-term funding needs within that structure. The social club’s 10 per cent stake would remain unchanged, while Textor said the funds would add to a separate $25 million secured from GDA Luma and Hutton Capital, bringing total planned investment to $50 million.

Spanish court rejects La Liga claim over 15-second player protest

Spain’s National Court has rejected a legal challenge by La Liga seeking to classify a brief player protest earlier this season as unlawful.

The case related to a coordinated 15-second delay to kick-off across fixtures in October, staged in response to plans to move a league match between Villarreal and Barcelona to the United States.

In its ruling, the court said the action did not amount to a strike but was instead an exercise of players’ rights. It stated the protest fell within “their right to freedom of expression” and freedom of association.

La Liga had argued the stoppage disrupted competition and should be treated as industrial action under existing agreements with players.

La Liga to appeal ruling

La Liga said in a statement it will appeal the decision to Spain’s Supreme Court, maintaining that the players’ actions should be treated as a strike under existing regulations.

The league said it is seeking to protect the integrity of the competition and its audiovisual rights, despite the court’s finding that the protest had no material impact on matches.

CBF sets out unified league plan for Brazilian clubs

The Brazilian Football Confederation has set out a proposal for a unified league body to organise Brazil’s top two divisions, with an initial meeting held with clubs and state federations.

In a statement, the governing body said it convened representatives from Série A and Série B clubs on Monday in Rio de Janeiro to begin discussions on the creation of a new league structure.

The CBF said the initiative is intended to bring together currently divided club groupings and centralise commercial and media rights. “We believe that the league must have the clubs in the leading role,” said CBF director Helder Melillo.

Clubs remain split over commercial structure

Brazilian clubs remain divided into rival blocs that jointly hold broadcast rights to the Série A until 2029, limiting a unified commercial approach.

The CBF said a single league could address issues including scheduling, infrastructure and revenue generation, while aiming to increase club income once new arrangements come into effect from 2030.

Botafogo have initiated legal proceedings against Olympique Lyonnais, seeking repayment of more than €125.5 million linked to a series of loans provided to the French club, according to a statement issued by the Brazilian side.

The Rio de Janeiro club said the funds, totalling over 745 million Brazilian reais, were transferred as part of a shared management structure within Eagle Football Group following Lyon’s acquisition in 2022.

Botafogo said Lyon’s current leadership had terminated the agreement and declined to repay the outstanding balance.

“Despite having benefited from the resources received, the French club failed to fulfill its obligations, refusing to pay the debt,” the club said.

Eagle Football structure under pressure

The dispute has affected Botafogo’s financial position, with the club indicating it has faced restrictions linked to its ability to meet obligations, including a transfer ban imposed by FIFA.

Lyon are also reported to have an outstanding €12m obligation to Belgian club RWDM Brussels, while Eagle Football Holdings Bidco, controlled by John Textor, has entered receivership under restructuring firm Cork Gully as it seeks potential buyers for its assets.

 

Chelsea lead agent fee table as Premier League bill hits £460m

Chelsea FC were the highest spenders on agents’ fees for a third consecutive year as total payments across the Premier League reached a record £460.3 million in 2025/26, according to figures published by the The Football Association.

Clubs collectively increased their spending by 12 per cent year-on-year, with Chelsea accounting for £65.1 million. The club had also led agent payments in the previous two seasons, recording £60.4 million in 2024/25 and £75.1 million in 2023/24.

The figures were released on the same day Chelsea confirmed a £262.4 million loss for the last financial year, the largest reported by a Premier League club.

A breakdown of spending shows Aston Villa as the second-highest payer at £38.4 million, followed by Manchester City (£37.4 million), Liverpool (£33.8 million), Arsenal (£32.1 million) and Manchester United (£31.7 million).

Total of £500 million

Across England’s top four men’s divisions, total payments to intermediaries exceeded £500 million for the first time.

In the women’s game, agent fees across the top two tiers remained substantially lower, although the FA reported that spending in those leagues nearly doubled compared with the previous year.

 

FIGC president Gabriele Gravina resigns after Italy World Cup failure

Italian Football Federation president Gabriele Gravina has resigned following Italy’s failure to qualify for the 2026 men’s World Cup, the federation confirmed.

Gravina stepped down two days after Italy were beaten on penalties by Bosnia and Herzegovina in their qualification play-off final, a result that leaves the national team absent from a third consecutive World Cup.

Italy’s sports minister Andrea Abodi said the situation required structural change, stating: “It’s evident to everyone that Italian soccer needs to be overhauled … and that process needs to start with new leadership at the FIGC.”

Former captain Gianluigi Buffon also resigned from his role as head of delegation, a position he had held since August 2023, the federation said.

New FIGC leadership to be elected in June

The FIGC said a new president will be elected on June 22, while no update was provided on the future of head coach Gennaro Gattuso.

Gravina had led the federation since 2018 and remained in post after previous tournament setbacks, including Italy’s failure to qualify for the 2022 World Cup and a last-16 exit at Euro 2024.

 

Southampton report £53.9m loss for 2024/25 financial year

Southampton FC have reported a pre-tax loss of £53.9 million for the financial year ending June 2025, according to the club’s published accounts.

The result follows a pre-tax profit of £17.3 million in 2023/24, when the club competed in the Championship, and an £87 million loss in 2022/23. The latest figures cover a season in which Southampton returned to the Premier League after securing promotion via the play-offs in 2024.

Turnover increased to £158.4 million from £84.8 million the previous year, reflecting higher broadcasting and commercial income linked to top-flight participation.

Cost control

Player wages rose to £83.2 million from £58.8 million, although this represented a smaller share of revenue at 52.5 per cent compared with 68 per cent in 2023/24.

Cost controls reduced total staff wages as a proportion of turnover from 93.5 per cent to 73.2 per cent, according to the accounts.

Chelsea FC have reported a pre-tax loss of £262.4 million for the financial year ending 30 June 2025, the highest recorded in Premier League history.

The loss marks a reversal from the previous year, when Chelsea recorded a £128.4 million profit. That outcome was largely driven by the sale of the women’s team to a subsidiary company for close to £200 million.

The club attributed the latest losses in part to increased operating costs during the 2024/25 period compared with the previous year. Chelsea also reported revenue of £490.9 million, their second-highest on record, including income linked to participation in the Club World Cup.

Compliance under PSR rules

Chelsea are understood to be compliant with the Premier League’s profitability and sustainability rules (PSR) for the three-year period ending 2024/25. The regulations permit losses of up to £105 million over three years, with certain costs excluded from calculations.

Those exclusions include spending on infrastructure, youth development and women’s football, which can be added back under the rules.

UEFA presses FIFA over World Cup prize money distribution

UEFA are lobbying FIFA to increase prize money and financial support for federations competing at this summer’s World Cup in North America.

According to The Athletic, the move follows requests from several European member associations, who have asked UEFA to raise concerns over tournament finances with FIFA.

FIFA president Gianni Infantino has said the competition is expected to generate more than $11 billion in revenue, while the organisation has committed to redistributing at least 90 per cent of its World Cup cycle budget into football globally.

Financial concerns among federations

European associations are concerned that rising operational costs linked to participation could reduce or eliminate financial returns from the tournament, despite the scale of FIFA’s projected revenues.

FIFA is understood to be aware of the concerns and is working on potential solutions with participating federations, with the issue set to be discussed at the FIFA Congress in Vancouver at the end of May.

Abramovich plans foundation to challenge UK stance on Chelsea sale funds

Roman Abramovich is seeking to establish a charitable foundation in a move that could challenge the UK government’s position on the frozen £2.35 billion proceeds from his sale of Chelsea.

According to The Athletic, the proposed entity would distribute funds to global humanitarian causes rather than restrict spending to Ukraine, which remains a condition set by the UK authorities.

The foundation, expected to be overseen by former UNICEF executive Mike Penrose, is in the process of being registered with the Charity Commission. A spokesperson for Abramovich said: “Mr Abramovich maintains his intention to donate funds to humanitarian causes once the relevant legal obstacles are resolved.”

The UK government has maintained that the funds will remain frozen unless Abramovich agrees they are used solely for Ukraine, following Russia’s invasion in February 2022 and the subsequent sanctions imposed on the Russian businessman.

Sale dispute continues

Abramovich was forced to sell Chelsea in May 2022, when the consortium led by Todd Boehly and Clearlake Capital acquired the club, but the proceeds have not been released amid the ongoing dispute over their allocation.

In December, Prime Minister Keir Starmer warned Abramovich of potential legal action if he does not accept the government’s conditions, while his representatives continue to dispute that such restrictions formed part of the original agreement.

Aston Villa post £17 million profit as revenue rises 37 per cent

Aston Villa FC reported a profit after tax of £17 million for the 2024/25 financial year, as revenue increased 37 per cent following participation in the UEFA Champions League.

The club generated £378.1 million in revenue, with growth largely driven by reaching the quarter-finals of the competition, according to its financial statement.

Commercial revenue rose 69 per cent to £70 million, while sponsorship income increased 31 per cent to £28.6 million.

Ownership restructuring

During the year, NSWE Sports Limited, part of the club’s ownership group, transferred its investment in the women’s team and a subsidiary holding rights to The Warehouse, a multi-use entertainment venue at Villa Park, to NSWE Holding Limited to enable external investment without direct involvement in the men’s team.

Aston Villa continued to operate within the Premier League’s profitability and sustainability rules.

Newcastle United’s 2024/25 accounts show the club sold St James’ Park and adjacent assets to a company controlled by their own shareholders, contributing to a pre-tax profit of £34.7 million.

The transactions generated £176.2 million in proceeds and an accounting gain of £133.1 million, according to the club’s financial results. Without these intragroup sales, Newcastle would have reported a £98.4 million loss for the period.

The purchasing entity, PZ Newco Holdings Limited, is owned by the same parent company as Newcastle, which is majority-owned by Saudi Arabia’s Public Investment Fund (PIF).

Late-year sale

The stadium structure was sold as leasehold improvements for £172.1 million shortly before the financial year end, while a separate subsidiary holding land near the ground was also transferred for £4.1 million.

The land at Strawberry Place remains used by club-linked operations, including a fan park, allowing related income to be included in financial submissions to governing bodies. Following the transactions, the stadium is no longer held directly by the club but sits within a separate entity under the same ownership.

Tottenham Hotspur report £94.7 million net loss on £565.3 million revenue

Tottenham Hotspur have reported a net loss of £94.7 million for the 2024/25 financial year, despite revenues rising seven per cent to £565.3 million, according to the club’s latest accounts.

The club said the total revenue increase wad supported by higher matchday and commercial income, as well as prize money from their Europa League win. However, those gains were offset by increased operating costs and lower media income following a 17th-place finish in the Premier League.

The accounts also show a pre-tax loss of £120.6 million, reflecting the impact of a higher wage bill and the cost of hosting additional fixtures during the season. Tottenham’s net debt rose to £831.2 million as of 30 June 2025, an increase of nearly £60 million compared with the previous year, although the club said most borrowings remain on fixed interest rates at just above three per cent.

Risks and uncertainties highlighted

The club stated in the report: “The Board of Directors continually monitors the Group’s exposure to a range of risks and uncertainties… including the success of the First Team and our level of spending thereon.”

Managerial changes during the period included the departures of Ange Postecoglou and Thomas Frank, while interim coach Igor Tudor also left. The club have just appointed Roberto De Zerbi as they seek to stabilise results.

Milan city council offices raided over San Siro stadium sale probe

Italian financial police have raided offices at Milan’s city council as part of an investigation into the sale of the San Siro stadium to AC Milan and Inter Milan.

Authorities seized computers and mobile phones during the operation, while more than 10 individuals have been placed under investigation on suspicion of bid-rigging, according to Calcio Finanza. The two clubs are not under investigation.

The council agreed last year to sell the stadium, which is owned by the municipality, to the two clubs for close to €200 million.

Investigation follows complaints

AC Milan and Inter Milan secured approval for a redevelopment project valued at around €1.5 billion after negotiations with local authorities and heritage bodies. The plan includes partial demolition of the existing structure and construction of a new stadium nearby.

Opposition groups and some councillors have argued the agreed sale price, including surrounding land, undervalued the asset.

Everton cut losses to £8.6 million after selling women’s team and stadium to owners

Everton have reduced their annual losses to £8.6 million after selling their women’s team and Goodison Park to their parent company, according to the club’s latest accounts.

The transactions generated a combined profit of £49.2 million and relate to deals with Roundhouse Capital Holdings Ltd, the investment vehicle used by the Friedkin Group when acquiring the club in December 2024.

The accounts show losses fell from £53.2 million in the previous year, with Everton stating the sales contributed to improved financial results while maintaining compliance with Premier League profitability and sustainability rules.

Separation of women’s team and stadium assets

Everton said the sale of the women’s team allows it to operate as a separate commercial entity, which the club believes could support future investment opportunities.

The accounts also confirm record revenues of £196.7 million for the final season at Goodison Park, with the club forecasting a 25 per cent increase to around £250 million in their first season at the new Hill Dickinson Stadium.

Argentine FA president Claudio Tapia charged with tax evasion

Claudio Tapia, president of the Argentine Football Association (AFA), has been formally charged with tax evasion following a court ruling made public. The decision also targets several other senior officials at the governing body.

The charges follow a criminal complaint filed by Argentina’s tax authorities, which allege that the AFA and its executives failed to pay taxes and social security contributions. The alleged damage is estimated at 19 billion pesos, equivalent to around €11.8 million.

Four additional AFA officials have been charged alongside Tapia, including treasurer Pablo Toviggino. According to the ruling, 350 million pesos (€21,900) have been frozen from the assets of Tapia and Toviggino as part of the investigation.

AFA charged as legal entity

The case also includes the AFA as a legal entity, with all five officials having appeared before the presiding judge on 12 March. Other individuals named include Víctor Blanco Rodríguez, Cristian Ariel Malaspina and Gustavo Roberto Lorenzo.

Separately, Tapia and the AFA are also under investigation over financial dealings with two companies, in cases examining alleged money laundering and the diversion of funds to shell companies.