Arsenal will end their eight-year sponsorship agreement with Visit Rwanda when the current deal expires at the end of the 2025/26 season, the club announced in a statement.

Arsenal said the club and the Rwanda Development Board had “mutually agreed” to conclude the partnership, adding that it had “exceeded the original goals” of promoting conservation and sustainable tourism while supporting Rwanda’s ambition to become an international sporting hub.

The sleeve partnership, which began in 2018 and is understood to be worth more than £10 million per year, has faced scrutiny amid increased violence in eastern DR Congo.

Chief executive Richard Garlick said the collaboration had helped Arsenal “invest in our long-term vision to win major trophies, in a financially sustainable way”.

Regional tensions

In February, DR Congo urged Arsenal, Paris Saint-Germain and Bayern Munich, all sponsored by Visit Rwanda, to end what it called “blood stained” partnerships as the humanitarian situation in the region worsened.

PSG have since extended their deal to 2028, while Atlético Madrid signed a three-year agreement this season.

Manchester United’s seat licence plan faces risk from government’s resale ban

Manchester United’s proposed use of personal seat licences (PSL) to support the £2 billion redevelopment of Old Trafford is under threat after the government moved to outlaw ticket resales above face value, according to The Guardian.

The PSL model under consideration allowed licence holders to sell match or season tickets at a profit, but forthcoming legislation set for next year’s King’s Speech will prohibit any resale above the original price.

United have been consulting fans on the introduction of seat licences this year through a survey, which was sent to hundreds of thousands of season-ticket holders and members. Different supporter groups were asked different questions as part of the research.

Buying a PSL would give supporters the right to purchase a specific seat at the rebuilt ground for a fixed term, with a separate season-ticket payment still required. The model is common in US sport, particularly the NFL, where a strong secondary market has developed for the licences themselves.

Consultation at early stage

United sources told The Guardian that the CSL model included a potential resale element but stressed the process remained in its early stages.

A ban on resale above face value would not rule out PSLs entirely but could reduce their appeal and force the club to lower prices.

Atlético de Madrid exceed €400m revenue for first time but post €6m loss

Atlético de Madrid surpassed €400 million in revenue for the first time in 2024/25 but recorded a €6 million loss, according to figures reported by MARCA. The results come as the club prepares to transfer ownership to Apollo SportsCapital in a deal valuing the LaLiga side at €2.5 billion.

Competition income rose 30 per cent to €29.2 million, while commercial revenue reached €113.5 million after a renewed Nike deal to 2035 and an expanded Riyadh Air agreement including naming rights to the Metropolitano.

The club also added Visit Rwanda to their kit and agreed a partnership with Red Bull. Membership income increased 13 per cent to €56.3 million as Atlético reached more than 145,000 members and 61,304 season-ticket holders. Broadcasting revenue fell 5 per cent following elimination in the Champions League round of 16.

The wage bill rose 7 per cent year-on-year to €315.9 million after the arrivals of Julián Álvarez, Conor Gallagher, Robin Le Normand and Alexander Sørloth. Transfer spending pushed amortisation up 26 per cent to €76.4 million, while spending on sporting staff reached €239.5 million. Off-pitch personnel costs increased 27 per cent to €40 million.

Transfer activity impact

Transfer profits have exceeded €40 million in recent seasons and are expected to do so again after the departures of Samuel Lino, Arthur Vermeeren, Santiago Mouriño, Ángel Correa and Rodrigo Riquelme.

Receivables from transfers rose 70 per cent to €97.7 million, while net financial debt fell 20 per cent to €454 million. Equity increased 57 per cent to €174.8 million, with net assets of €165.8 million at the period end.
 

Leicester City will face a Premier League disciplinary hearing next week as the club contests three fresh charges linked to alleged profitability and sustainability rule breaches, according to The Telegraph.

The Championship club are accused of exceeding permitted losses for the 2023/24 season, missing the 31 December deadline for submitting annual accounts, and failing to provide full and prompt assistance during the league’s enquiries.

If proven, the charges could lead to sanctions ranging from a points deduction to a fine or transfer restrictions, with the process handled by an independent commission.

Financial losses exceed PSR limits

The club recorded more than £200 million in combined losses over the three-year period to 30 June 2024, above the £81 million limit permitted under PSR regulations. That included a record £92.5 million loss in the 12 months to May 2022 and a further £89.5 million the following year, attributed to relegation-related costs, the dismissal of Brendan Rodgers, and lower-than-expected league revenue.

A verdict is not expected until the end of this year at the earliest, and any appeals could extend proceedings into the second half of the season.

Sevilla FC post fifth straight loss as 2024/25 deficit reaches €54m

Sevilla FC posted a €54.1 million loss for 2024/25, a 34 per cent improvement year-on-year but their fifth consecutive deficit. The club’s accumulated losses since 2020/21 now stand at €221 million, with their board indicating that further cuts to the wage bill are needed to restore financial sustainability.

The board said the multi-year plan already under way aims to reduce overall costs, particularly first-team spending, which continues to weigh heavily on results. The wage bill and squad amortisation totalled €117.5 million, exceeding the club’s operating revenue despite a 36 per cent annual reduction.

Transfer profits, once worth more than €50 million a season before the pandemic, have fallen sharply, contributing only €6 million across the past two campaigns. The absence of European football has also limited matchday income, which remained flat at €6.2 million, while membership and season-ticket revenue fell 7 per cent to €14.4 million.

Commercial rebound

Commercial income rose 20 per cent to €28.9 million, helped by Midea’s arrival as main shirt sponsor and a switch from Castore to Adidas as technical partner.

Non-sporting staff costs fell 2 per cent to €20.9 million, while other operating expenses decreased 27 per cent to €25.7 million.

Arsenal and other Premier League clubs reconsider stance as salary cap plan falters

Arsenal FC are among several Premier League clubs reassessing their support for a proposed salary cap, placing the “anchoring” model in jeopardy ahead of Friday’s scheduled vote, according to The Times. The plan would limit spending to five times the revenue earned by the club finishing bottom of the league.

Arsenal had previously been a key backer, but their position has shifted following the departure of former executive vice-chairman Tim Lewis in September. Up to eight clubs are now understood to hold reservations, raising doubts over whether the vote will proceed. 

Any change to Premier League regulations requires the backing of 14 clubs.

PFA and agents threaten legal action

The Professional Footballers’ Association (PFA) has threatened to take the league to court and will brief club captains this week on the potential impact on player earnings. 

Three major agencies, CAA Base, CAA Stellar and Key Sports Management, have also instructed lawyers to challenge the plans.

Libero maintains refusal to pay €40 million owed to FC Barcelona

FC Barcelona’s legal dispute with Libero Football Finance has escalated after the German fund reiterated it will not pay the €40 million linked to its entry into Barça Produccions, which was later absorbed into Barça Media, according to El Economista.

Libero has argued that its contractual obligations became impossible to meet once Barça Produccions was merged into Bridgeburg Invest, the company into which it had initially agreed to invest. The fund claims the merger was carried out without its consent and breached the agreed duty of cooperation.

The company says its position is “juridically solid and procedurally promising”, citing the civil law principle of impossibility, alleged breaches of fiduciary duty and what it describes as a structural failure of the contractual basis. Barcelona have not publicly responded, and the case remains before the courts, though Libero says it is open to a negotiated settlement.

Additional legal action

Libero has also filed a separate claim against the investor expected to provide the original €40 million, seeking damages. Barcelona partly addressed the €40 million shortfall through a deal with catering company Aramark, which paid €25 million for a 6 per cent stake in the relevant subsidiary.

Kylian Mbappé, the Real Madrid player and France national team captain, has filed a lawsuit against his former club Paris Saint-Germain (PSG), claiming €263 million in damages, as reported by Le Monde.

This legal action stems from a dispute regarding the treatment of Mbappé by PSG and the status of his contract at the beginning of the 2023/24 season.

The player alleges that he was marginalised and made to train with players PSG intended to sell after he declined to sign a new contract with the club.

PSG's countersuit

In response to Mbappé's lawsuit, PSG has filed a countersuit against the player, seeking €240 million. This amount is based on a failed €300 million transfer to Saudi club Al Hilal, which Mbappé reportedly refused.

Mbappé's discontent with PSG began when he was excluded from the club's pre-season tour of Asia in 2023 and missed the first game of the season. However, he was later reinstated to the team following discussions with PSG. After spending seven seasons with PSG, Mbappé transferred to Real Madrid on a free transfer last summer.

FC Barcelona finally announces return to Camp Nou

FC Barcelona have announced their return to the Spotify Camp Nou for the upcoming La Liga match against Athletic Club this Saturday.

The City Council has granted approval for 45,401 fans to attend games at the stadium, which recently reopened to the public during an open training session attended by approximately 23,000 fans.

Barcelona had been playing their home games at Montjuic, a stadium with a capacity of 55,926 and located about 4km from Camp Nou, for the entirety of the 2023/24 and 2024/25 seasons. The renovated Camp Nou will eventually accommodate 105,000 spectators.

Several delays

The club had initially planned a limited capacity return to Camp Nou in November 2024 but later projected a comeback in the second half of the 2024/25 season. Despite targeting the Joan Gamper Trophy on August 10 for their first game back at Camp Nou, they had to reverse this plan due to ongoing construction work. Consequently, their first two home matches of the 2025-26 season were played at Estadi Johan Cruyff.

Barcelona and construction firm Limak have set June 2026 as the completion date for the ground, with current project costs at €900 million.

Player agencies threaten legal action over Premier League salary cap

Three prominent player agencies in English football, CAA Base, CAA Stellar, and Key Sports Management, are threatening to sue the Premier League over its plans to introduce a new salary cap, accordring to The Times.

These agencies represent numerous players, including Cole Palmer and Jack Grealish, and have engaged a top London law firm to address their concerns to the Premier League's legal department.

According to the agencies, the Association of Football Agents has not been consulted on the proposed salary cap, which they argue would violate competition law. The Premier League is considering financial reforms that include squad cost ratio rules and anchoring, which would limit spending to five times the amount awarded in prize money and broadcast revenue to the lowest-finishing club.

Players also warn of legal action

The Professional Footballers’ Association has also threatened legal action and plans to meet with Premier League captains due to concerns about the impact on salaries compared to European rivals.

In their letter to the Premier League, the agents demand the withdrawal of these financial regulation changes. They argue that implementing these rules would breach the Competition Act 1998 and constitute an unlawful restraint of trade by capping spending on players, staff, transfers, and agents.

Apple and MLS shorten their media rights deal to 2029 and revise the payment structure

Apple's deal with Major League Soccer (MLS), initially set for a 10-year duration, has been revised to conclude at the end of the 2028-29 season, Sportico reports. This adjustment shortens the original agreement by three and a half years.

MLS will receive 
200 million for the 2026 season and 107.5 million for a shortened "sprint" season from February to May 2027. Following this period, the league is set to earn $275 million annually for the last two seasons of the contract. These final seasons will coincide with MLS's transition to a summer-to-spring schedule.

The renegotiated terms will result in MLS receiving approximately $50 million more than what would have been paid under the initial deal structure, which included progressively increasing payments. The updated agreement also provides Apple with greater flexibility, offering an earlier exit option and the possibility to renew the contract if desired.

Commissioner confirms

MLS Commissioner Don Garber acknowledged the altered terms during an event in Palm Beach, Florida, stating, "Yes, we’ll have different economics," and confirming that "The term will change. The financials will change. And all that’s very positive for us."

This change means that MLS will re-enter the market sooner than anticipated, presenting a significant chance to elevate its media rights fees. However, it also places pressure on the league to enhance its offerings and perform strongly on Apple's platform before the new 2029 expiration date.

Valencia report €2.2 million surplus as Real Betis extend profitable run for a third straight year

Valencia CF have announced a consolidated profit for the 2024/25 season, with a pre-tax surplus of €2.2 million and a turnover of €103.7 million, despite a 3 per cent year-on-year decrease. The LaLiga club managed to maintain their revenue above €100 million even without participating in European competitions, according to a statement from the club.

The slight dip in ordinary turnover is attributed to a drop in audiovisual income due to lower league standings in recent seasons and the repayment of CVC funds. The operating result reached €23.8 million, a 49 per cent increase from the previous year.

On the expenditure side, operating costs (excluding amortisation), which rose to €114.5 million, were impacted by factors such as the dismissal of the previous first-team technical staff and costs associated with covering long-term injuries.

Betis post profit for third consecutive year

Meanwhile, Real Betis recorded their third consecutive profitable season in 2024/25, with annual profits of €4.6 million and revenues increasing by 9 per cent to €207 million. Betis' financial success was driven by their performance in the UEFA Conference League and player transfers.

Ticketing income reached €31 million, UEFA contributions amounted to €17.4 million, and commercial revenues climbed to €37 million, all contributing to Betis' robust financial results for the season.

Bill Foley’s Black Knight group set to take full control of FC Lorient in major ownership overhaul

FC Lorient is on the verge of a significant ownership change, as current president Loïc Féry plans to integrate his personal stake into the Black Knight Football Club (BKFC), fronted by Bill Foley, making the American consortium the sole shareholder of the French club. This development was revealed in an interview with Féry published on Lorient's official website.

The process began in late 2022 when Bill Foley and BKFC became minority shareholders. Since then, Lorient has seen a top-ten finish in Ligue 1 and immediate promotion from Ligue 2 after relegation. Féry believes this move will provide Lorient with solid foundations within a group that boasts over $500 million in equity.

By merging his stake with BKFC, Féry will become one of the leading shareholders behind Foley, aligning Lorient with other clubs like AFC Bournemouth and Moreirense FC in a multi-club network.

Swift transition

This announcement comes despite Féry's previous assurance that no further changes in capital structure would occur before 2026. Nonetheless, he expresses confidence that all parties are aligned and anticipates finalising the transition swiftly.

Lorient, managed by Olivier Pantaloni, currently sits 17th in Ligue 1, level on points with Nantes and Brest in a tight relegation battle.

MLS will switch to a new calendar, whereby it will run from mid-July until the end of May, the elite US league has confirmed.

The introduction of the new calendar, which will be implemented from the 2027/28 season, comes as part of a plan to better align MLS with elite European divisions such as LaLiga, the Premier League, and the Bundesliga.

In addition, the league will also install a winter break from mid-December until the first or third week of January, with MLS aiming to avoid a potential clash with Super Bowl weekend.

According to The Athletic, MLS is also considering changes to its playoff format. The league will pivot to a single-table format, but will comprise five six-team divisions from 2027.

MLS' format change follows a two-year review process that dates back to October 2023, with the league revealing that 92 per cent of viewers supported the calendar change.

Scraps paywall for AppleTV matches

The league has also decided to remove the paywall within AppleTV, allowing all AppleTV subscribers to access matches going forward.

For the past three seasons since MLS inked its 10-year, $2.5 billion broadcast deal with AppleTV in 2022, users would need to have a separate stand-alone MLS subscription to view games.

Liverpool owners Fenway Sports Group walk away from Getafe takeover

Liverpool’s owners Fenway Sports Group (FSG) have withdrawn their interest in taking over LaLiga club Getafe.

FSG had been linked with a potential deal to acquire Getafe in recent months, with FSG completing a positive due diligence on the club back in September.

However, as reported by The Athletic, ‘senior figures’ with FSG have opted against the takeover, partially due to its potential cost, as well as strict spending constraints in Spain.

Looking to become multi-club organisation

The club’s current owner, Angel Torres, had reportedly lowered his asking price to around £100 million, after his previous valuations of the club had deterred prospective bidders in the past.

An agreement would have seen FSG pivot to a multi-club organisation, adding to the group’s ownership portfolio that also includes Premier League champions Liverpool, MLB’s Boston Red Sox, and the NHL’s Pittsburgh Penguins.

FSG have been looking to adopt a multi-club model since the appointment of Michael Edwards as CEO last year.

Leicester set for major overhaul of Championship club’s board

Leicester City are set for a major overhaul within the English club’s senior management team, according to UK media.

Jon Rudkin, who has served as the Championship side’s director of football since 2016, is set to step down from his role, taking on a new position ‘upstairs’ at the club.

In Rudkin’s stead, Leicester are understood to be looking to appoint a new sporting director.

Two relegations in three seasons

The club were relegated twice during Rudkin’s tenure, drawing significant backlash from Leicester fans as a result.

He will remain as a key figure at the club, although Leicester chairman Aiyawat Srivaddhanaprabha is looking to restructure its management team in light of recent results.

Sheffield Wednesday to pay players on time for November and December, administrator confirms

Sheffield Wednesday will be able to pay their players on time for November and December, the club’s administrator, Kris Wigfield, has confirmed.

The English club were placed in administration last month, incurring a 12-point penalty from the EFL, after former owner Dejphon Chansiri relinquished control of the Championship side.

Following the departure of the much-maligned Thai businessman, Wednesday fans decided to end their boycott of the club, instead purchasing match tickets as well as merchandise at the club shop.

As a result, the uptick in revenue has helped Wednesday pay players on time, having failed to do so for five of the previous six months before the team entered administration.

Wigfield, managing partner of administrators company Begbies Traynor, said: “This puts the club on a sounder footing going forward and comes at a time when serious bidders will be examining the finances and analysing the potential of this historic club.

“We all think it is very important that the fans know what a huge difference they are making.”

Expecting “concrete offers” in due course

With Wednesday currently fielding offers for the 28-day period until 21st November, Wigfield added: “We will hope to see concrete offers made soon as enquiries - which have been well into the double figures from across the globe - are thinned down into serious and viable bidders that can secure the long-term future of Sheffield Wednesday.”

He added that “even more patience will be required”, as the club looks for a suitable buyer.

Cagliari get green light for new stadium

Serie A club Cagliari Calcio have received final approval to build a new 25,000-seat ‘Gigi Riva’ stadium.

Cagliari have played home matches at the Unipol Domus since 2017, following the closure and part-demolition of the team’s previous home, the Stadia Sant’Elia.

The construction of the Gigi Riva Stadium comes as part of the Sardinian city’s bid to host matches during the UEFA Euro 2032 championships, which will be held across Italy and Turkey. The new venue will also have the possibility of expanding to a capacity of 30,000.

A decade-long wait

“We've been waiting for this news for ten years,” said Massimo Zedda, mayor of Cagliari. “Today, the decision-making conference, which approved the project for the new stadium, concluded positively.

Zedda continued: “We will proceed quickly with the next steps. As soon as Cagliari Calcio submits the updated economic and financial plan, we can begin working on the formalities for publishing the international tender for the construction and management concession for the new facility.”

American businessman Bill Foley has sold his 25 per cent stake in Hibernian FC back to the club's majority shareholders, the Gordon family, the Scottish club have announced. The decision comes after both parties acknowledged that their partnership was not yielding the desired results,

Foley, who also owns Bournemouth through his Black Knight Group, originally invested £6m for his share in the Edinburgh-based club in February 2024. While the exact financial details of the buyback have not been disclosed, it is expected that Foley will recover his initial investment and any additional funds he contributed.

The collaboration between Foley and Hibernian had been fraught with dissatisfaction from both sides over the past few months. Hibs Chairman Ian Gordon cited "philosophical differences" regarding the club's future direction as a key issue.

Gratitude for smooth transition

In the statement, Gordon expressed gratitude towards Black Knight Football Club for the smooth transition of shares and wished them well for the future. He also emphasised his confidence in Hibernian's teams to deliver success moving forward.

The partnership had been off to a challenging start, with Foley previously voicing criticism over certain managerial appointments at the club. Following the sale, Black Knight president Tim Bezbatchenko and Ryan Caswell have resigned from Hibernian's board, while Dan Barnett has been appointed as the new chief executive.

The Black Knight group continues to seek expansion opportunities for their sports portfolio, which includes teams in France, Portugal, and New Zealand.

Real Madrid are considering selling up to 10 per cent of the club to an external investor

Real Madrid CF are exploring the possibility of transforming into a public limited sports company (SAD), according to a report from El País.

President of the club, Florentino Pérez, is considering a sale of up to 10 per cent of the club to an external investor, with the remaining 90 per cent to be distributed among the club's 100,000+ members.

According to Pérez, this move would help establish a definitive valuation for Real Madrid, which he believes stands at €10 billion, despite current estimates being around €6 billion. This was a point he emphasised during the last members' assembly.

Would limit member ownership

The proposed structure would limit member ownership to a single share each, which could be sold but only to another member who does not already own one. To initiate this transition to an SAD, Real Madrid must first convene an extraordinary general meeting where representative members would need to approve a referendum on Pérez's proposal by an absolute majority.

Pérez is expected to present this proposal at Real Madrid CF's annual general meeting on November 23. He has previously expressed his commitment to ensuring that "the members are the true owners" and maintaining "effective control" within their hands.

The Premier League contributed €11 billion to the UK economy in 2023/24

The Premier League is generating €11 billion in gross value added (GVA), during the 2023/24 season. This figure represents a 21 per cent increase from the previous season and is fourteen times higher than that achieved in the 1998-1999 season, according to an annual report by EY published by the Premier League.

The league also supported over 100,000 full-time equivalent jobs and contributed €5 billion in taxes, with €2.736 billion coming from players and staff.

"Premier League clubs are proudly rooted in their communities; as the league continues to grow, it helps them invest even more in their staff, facilities, and local programs that support millions of people," stated Richard Masters, the Premier League's Chief Executive.

He further emphasised the league's role in generating significant economic value for the UK and promoting a positive image of the country globally. Masters also highlighted that the league's funding supports all levels of football, from professional and non-professional clubs to academy systems and grassroots football.

Impact beyond London

The economic impact of the English competition also indicates a decentralisation from London, with over 60 per cent, or €6.6 billion, of total economic contribution generated by clubs based outside London. Additionally, over 30 per cent, or 31.705 jobs supported were located in Northwest England.

In the 2023/2024 season, the Premier League generated €1.92 billion in broadcast rights exports, nearly matching the rest of the UK's television sector combined at €2 billion.

Hamburger SV reports record revenue and profit for the 2024/25 financial year

Newly promoted Bundesliga club Hamburger SV (HSV) have reported a record revenue of €126.5 million for the 2024/25 season, marking the highest income in their seven years in the second division.

This report also includes a net profit of €4.4 million, continuing the club's positive economic trend for the fourth consecutive year.

According to board member Eric Huwer, this financial success "underlines the successful overall development" of HSV and significantly enhances the club's financial flexibility. The club's equity ratio, inclusive of convertible bonds, stands at 48.1 percent, and it boasts net financial assets totaling €14 million.

"A milestone"

With liquid assets amounting to €36 million against financial liabilities of €22 million, Huwer highlights this as a "milestone in financial consolidation" that reflects HSV's economic stability and performance.

With HSV's return to the Bundesliga, the focus is on maintaining sporting success while further reinforcing financial stability. The overarching aim for HSV is to secure a permanent spot in the Bundesliga, ensure autonomy, and steadfastly continue on their strategic path, according to the club statement.

Genoa CFC and U.C. Sampdoria seek €26.2 million public funding for stadium renovation

Genoa and Sampdoria, the two football clubs of the city of Genoa, have requested public funding amounting to €26.2 million for the renovation of their Luigi Ferraris Stadium, according to a report from Calcio e Finanza.

The comprehensive project is expected to exceed €100 million in total investment. This request was included in a proposal submitted by Genova Stadium, a company shared by both clubs, to the City of Genoa on October 31, along with the feasibility study and financial plan.

€19 million of the requested funds would be provided as capital contributions, contingent on the progress of the stadium's refurbishment. The remaining €7.2 million would cover a 50-year free surface right for the stadium area.

Prepare for Euro 2032

The renovation aims to modernise the stadium and prepare it for potential Euro 2032 matches, which Italy is set to co-host with Turkey. This aspect will significantly influence the city administration's evaluation of the proposal.

A preliminary conference will be held on November 20 at the City Hall to analyse the submitted project. Within the following 60 days, the city administration must decide whether this proposal, or any alternative, is in the public interest, a prerequisite for continuing with approval procedures.

English FA and UEFA consider revamping European qualifying format

The English Football Association (FA), concerned that the qualification process for major international tournaments has become stale, is backing plans to revamp the European qualifying format. UEFA shares this concern, noting a decline in fan and broadcaster engagement due to expanded tournaments that have reduced the element of jeopardy, according to The Guardian.

England's early qualification for the 48-team 2026 World Cup highlights the issue, with their remaining matches, including one against Serbia, being of little consequence. FA chief executive Mark Bullingham emphasised the need for change, stating, "I think it’s really important to overhaul it."

Bullingham is part of a UEFA working group exploring alternative formats. One idea under consideration is a Champions League-style Swiss system model, which would involve facing a variety of opponents once in a larger league table setup. Another possibility is giving more weight to the Nations League in the qualification process.

"Discussions are ongoing"

FA chair Debbie Hewitt supports these changes, recognising the need for adaptation as football and tournament structures evolve.

UEFA president Aleksander Ceferin has confirmed that discussions are ongoing for a more interesting format without increasing the number of matches.

The Premier League's proposal to introduce a salary cap is facing opposition from both the Professional Footballers' Association (PFA), and some clubs that are prepared to legally challenge the move, according to BBC Sport.

The proposed top-to-bottom anchoring model (TBA), which would limit club spending on player wages, agents, and transfer fees to five times the income of the league's bottom club, is set for a vote by top-flight clubs next week.

PFA chief executive Maheta Molango has expressed strong opposition to the salary cap, stating on BBC Radio 4's Today programme: "You cannot artificially cap someone's ability to make a living." He emphasised that any measures around financial sustainability cannot be imposed unilaterally and must be negotiated.

Manchester clubs opposed

The current financial control system in place, known as profit and sustainability rules (PSR), allows clubs to incur losses of up to £105m over three years. However, it has been criticised for restricting investment. The Premier League is also considering a squad cost ratio (SCR), which aligns with UEFA's rules allowing clubs to spend up to 70 per cent of their revenues on squad costs.

Last year, 16 Premier League clubs voted for detailed analysis of TBA, with Manchester United, Manchester City, and Aston Villa opposing. Critics of TBA argue it could harm the Premier League's competitiveness in Europe and disincentivize growth. Under current proposals, breaches of the new rules could result in severe penalties, including point deductions.

Olympique Lyon reports 7 per cent revenue increase in first quarter of 2025/26 season

Olympique Lyon have reported a 7 per cent increase in revenue for the first quarter of the 2025-2026 season, with earnings reaching €70.8 million. This growth was largely fueled by the commercial sector, notably boosted by a new sponsorship deal with the Republic of Congo, as detailed in the club's financial report.

The partnership with the African nation contributed an additional €1 million to commercial revenues, which saw a 15 per cent increase to €7.7 million.

Player sales and loans continue to be a vital source of income for Lyon, controlled by Eagle Football. The club earned €40.7 million from these transactions in the first quarter, marking a 37 per cent increase from the same period in the previous season.

Falling broadcast income

This rise in commercial revenue and player sales income helped to compensate for declines in other areas such as matchday and television revenue. Ticket sales fell by 15 per cent to €6.2 million, while income from audiovisual rights dropped by 9 per cent to €8.3 million. A significant factor in the reduced revenue was the early termination of the DAZN-LFP contract in June 2025, which resulted in €1.8 million for the French league, one million less than the previous year.

Lyon also highlighted that they were informed by the league that "the first two years of operating the Ligue 1+ platform will be financially challenging, with a significant decrease in revenue" but expected a gradual increase thereafter.

Schalke 04 increases corporate bond offering from €50 to €75 million

FC Schalke 04 has increased its corporate bond offering from the initial €50 million to €75 million due to strong demand, as confirmed by the club in an official statement.

The German second division team's bond, set for the period 2025-2030, received approval for the increase from Luxembourg's Financial Sector Supervisory Commission (CSSF), with notification also sent to the Federal Financial Supervisory Authority (BaFin).

The club's statement highlighted the significant interest from professional investors, which "underscores the great confidence and credibility" Schalke 04 enjoys as it works towards financial stabilisation.

This expansion in the bond offering will allow Schalke to allocate more funds and offer a better exchange rate to all interested investors, depending on the final volume of subscriptions. The private placement, not part of the public offering, could potentially raise the issuance volume beyond €75 million.

Optimism

Christina Rühl-Hamers, FC Schalke 04's Director of Finance, Personnel, and Legal Affairs, expressed optimism about exceeding both the initial rescue goal for the 2021-2026 bond and partially refinancing the 2022-2027 bonds. She stated that surpassing these objectives provides Schalke 04 with a strong strategic option.

The 2025-2030 bond, with a fixed annual interest rate of 6.50 per cent and a maturity date of November 26, 2030, can be subscribed to until November 18, 2025. It includes a Bundesliga bonus of 1.50 per cent as a one-time payment upon Schalke's promotion up to and including the 2029-2030 season.

Juventus FC have announced the appointment of Damien Comolli as their new Chief Executive Officer, following the end of Maurizio Scanavino’s term in the role on November 7. The decision was made by the club’s Board of Directors, chaired by Gianluca Ferrero, during a meeting on Tuesday.

According to the announcement, "The Board of Directors appointed Damien Comolli as Chief Executive Officer, simultaneously terminating his previous role as General Manager, granting him administrative powers substantially in continuity with the previous structure."

Comolli, who joined Juventus as general manager earlier this summer, expressed his gratitude for the opportunity to lead the club and acknowledged the significance of Juventus in both Italy and the global football community. He stated, "Being in the position of CEO is an immense privilege and honor" and emphasised his ambition and focus on returning the club to winning ways.

Rich history in football

The 52-year-old Frenchman has a rich history in football management, having previously served as sporting director at Saint-Étienne, Liverpool, and Fenerbahce, and as director of football at Tottenham.

Comolli thanked Maurizio Scanavino for his guidance and contributions to the club's financial sustainability.

SS Lazio considers going public following Nasdaq visit

SS Lazio are considering the possibility of going public following a visit by several of their executives to Nasdaq in July. During their visit, they met with Jordan Saxe, a senior executive at the US stock exchange, to discuss opportunities for growth, innovation, and internationalisation that could come with a move to the stock market.

According to Il Corriere della Sera, SS Lazio's potential public listing would echo the recent steps taken by Cádiz CF, which listed its technology subsidiary on Nasdaq on October 31. The technology arm of Cádiz CF, Nomadar Corporation, has already seen its market capitalisation reach around 174 million just before its New York Stock Exchange debut.

Recently, SS Lazio was at the center of sale rumors, which the club denied through an official statement. They clarified that they had not received any offers or expressions of interest from Qatari funds or any other entities. "No offer, expression of interest, or proposal, formal or informal, has ever been received from Qatari funds or any other player, either in Italy or abroad," stated SS Lazio.

Plans for capital increase

The club's owner, Claudio Lotito, has plans for a capital increase and intends to renovate the old Flaminio stadium for Lazio's home games. This would be the first capital increase since Lotito acquired the club in 2004 but is contingent on approval from Rome's City Council.

In January, SS Lazio also entered into an agreement with cryptocurrency company Binance to become the main sponsor and launch a fan token. The deal is worth 30 million euros and could extend for three years.

Mass suspensions in Turkish football following betting scandal

The Turkish Football Federation (TFF) has suspended 1024 players, including 27 from the top-tier Turkish Super Lig, in a sweeping response to a betting scandal. The Professional Football Disciplinary Committee (PFDK), acting under Article 57 of the Football Disciplinary Instruction, has taken immediate action.

This unprecedented number of suspensions has prompted the TFF to enter into urgent talks with FIFA, seeking a special 15-day transfer and registration window to address the resulting squad shortages. This would be an extraordinary measure alongside the regular 2025/26 winter transfer period.

Due to the impact on team rosters, fixtures in the TFF 2. Lig and TFF 3. Lig have been delayed by two weeks. However, the Süper Lig and TFF 1. Lig will proceed as scheduled.

Investigation still active

For 47 players implicated in a single betting instance, their disciplinary referrals are under review, pending new evidence and information from official responses to avoid "irreparable damage" to those involved.

The investigation is still active, with the TFF maintaining communication with official institutions and considering expanding the inquiry based on new information. Notably, players from prominent clubs such as Galatasaray and Besiktas are among those affected by the suspensions.

Apollo Sports Capital has acquired a majority stake in Atletico Madrid, the LaLiga club have confirmed.

Although further terms of the agreement were not disclosed, the US private equity firm will make up around 55 per cent of the club’s shareholding, valuing Atletico at €2.5 billion, according to Spanish publication 2Playbook.

As the Spanish club’s new majority owner, Apollo is set to provide additional funding to help finance Atletico’s ‘Ciudad del Deporte’ (Sports City) complex, investing more than €350 million in the project.

Following Apollo’s arrival, Miguel Ángel Gil and Enrique Cerezo will remain as the club’s CEO and president respectively.

An “exciting next phase”

“This exciting next phase will build on the model that has driven our progress in recent years,” said Gil.

“Looking ahead, together we see significant opportunity to drive strong, sustainable growth of Atlético de Madrid as we build on our remarkable legacy. It was important to me to select a long-term investment partner who believes in our strategy and can enhance our activities off the pitch with the development of Ciudad del Deporte.”
 

Knighthead completes full takeover of Birmingham City

US-based Knighthead Capital Management has completed a full takeover of Birmingham City, after acquiring the remaining 51 per cent of shares previously held by Zo Future Group.

The New York-based investment firm initially purchased a controlling stake in the Championship club back in July 2023. This accounted for 45.98 per cent of Birmingham Cit Limited, which owns 100 per cent of the club, as well as its women’s team.

Following the full takeover, Knighthead’s SCL subsidiary, which was co-founded by Birmingham City chairman Tom Wagner, will now control 96.64 per cent of Birmingham City Limited.

Since Knighthead’s arrival, the US owners have revealed plans to build a new 62,000-seat stadium to replace St. Andrew’s as part of a new Sports Quarter -a £3 billion regeneration project that they hope will be complete by 2030.

An “important milestone”

“This transaction is another important milestone for Knighthead and Birmingham City,” Wagner said.

“Transformation has taken place across every aspect of the club’s operations since our initial investment and it’s just the beginning. Later this month we will unveil our new stadium design which will be at the heart of East Birmingham’s Sports Quarter."
 

NWSL set to award next expansion franchise to Arthur Blank and Atlanta for record $165 million fee

The NWSL is set to award its next expansion franchise to Atlanta, according to The Athletic.

The team will join the elite US women’s league as its 17th team, and will pay a record expansion fee of $165 million.

This marks an increase of more than 50 per cent on the $110 million paid by the NWSL’s most recent expansion team - the Denver Summit - earlier this year. By comparison, other recent expansion sides Bay FC and Boston Legacy each paid a fee of $53 million.

Atlanta team to join NWSL after 2026

AMB Sports and Entertainment, the holding company of US businessman Arthur Blank which owns the NFL’s Atlanta Falcons and MLS’ Atlanta United, will own and operate the new team.

The Atlanta-based outfit will play their home fixtures at Mercedes-Benz Stadium, which is also owned by AMB, and are set to join the NWSL after the 2026 season.
 

Sunderland in talks over investment in women’s team

Sunderland have been in talks over securing potential investment in the club’s women’s team, according to Bloomberg.

The English club have held discussions with three separate parties. One potential investor expressed interest in buying stakes in both Sunderland’s men’s and women’s teams at a valuation of £450 million, however this was rejected by the club.

If an agreement materialises, Sunderland would become the latest English club to sell a stake in their women’s outfit. Earlier this year, Chelsea and Aston Villa sold minority stakes in their women’s teams. Similarly, Mercury 13 recently acquired a majority stake in Bristol City’s women’s team.

Elsewhere, The Guardian reported in August that West Ham United had held talks with Monarch Collective over a potential £55 million deal for a 49 per cent stake in the East London club’s women’s team.

Ownership uninterested in new men's team investment

Sunderland’s co-owners - Kyril Louis-Dreyfus and Juan Sartori - are only interested in selling a stake in the club’s women’s team.

The men’s team are currently placed fourth in the Premier League, following their return to the English top flight for the 2025/26 season.
 

FIFPro hits back at FIFA after not being invited to latest meeting on player welfare

FIFA has drawn criticism from global players’ union FIFPro after it was excluded from a meeting in Morocco on player welfare. According to FIFA, representatives from more than 30 unions attended the event in Rabat on Sunday. However, FIFPro — the largest players’ union, representing over 70,000 footballers — was not invited.

Earlier this year, FIFA held a similar event in New York back in July, to which FIFPro was also not invited, amid its ongoing legal dispute with the organisation.

“The meeting did not involve a meaningful global representation of independent player unions that speak on behalf of players and are an integral part of labour negotiations,” FIFPro said in a statement on Monday.

FIFPro also accused FIFA of promoting “fake” unions at the event, as opposed to engaging in genuine dialogue.

“Extending this practice to employment matters and promoting fake or ‘yellow’ unions undermines collective worker representation and runs counter to International Labour Organisation (ILO) conventions,” said FIFPro.

FIFA committed to enhancing player welfare

Following the event, FIFA president Gianni Infantino said: “At FIFA, we remain committed to further enhancing player welfare and working conditions across the world by implementing concrete and meaningful measures with a view to improving football for the future.

“FIFA wants to work with all those genuinely interested in progress and respectful dialogue - our door is always open to all views that respect these values. This is a real movement for the players and we are happy about that.”

Lisa Nandy, the UK Government’s Secretary for Culture, Media, and Sport, has been found to have breached public appointment rules, over the selection of David Kogan as the first chair of the new Independent Football Regulator (IFR).

Last week, the UK’s commissioner for public appointments, Sir William Shawcross, revealed that Nandy had received two separate donations of £1,450 from Kogan during her campaign to become leader of the Labour Party in 2020. Nandy failed to declare these when Kogan was announced as the preferred choice for chair of the IFR in April.

In the 18-page report, Shawcross found that although Nandy “unknowingly” breached the code, she was still “in a position readily to ascertain whether he had donated to her campaign”, and should have “taken any necessary consequential action before selecting him.”

Shawcross also determined that the potential conflict of interest was not addressed with Kogan during his interview for the position, and that Kogan’s “political activity” was not disclosed “in the appropriate manner”.

Kogan was “politically active”

Last month, Kogan was confirmed as the first chair of the IFR, a new governing body which will oversee the top five tiers of English men’s football.

According to the report, Kogan was “politically active” in the five years prior to his appointment, donating £33,410 to the Labour Party and Labour candidates during that time.

 

Eyupspor president and 17 referees detained by Turkish prosecutors amid betting scandal

Turkish prosecutors have issued detention warrants for 21 people, including Eypspor president Murat Ozkaya, as part of an ongoing investigation into betting and match fixing.

The Istanbul Chief Prosecutor’s Office has announced that 18 of the suspects had been detained. Among them are 17 referees, who are facing potential charges of “abuse of office” and “influencing the outcome of a match.”

Former Kasimpasa owner Fatih Sarac has also been questioned by prosecutors, according to Turkish publication Cumhuriyet.

Turkey’s betting scandal

Recently, 149 referees and assistant referees were suspended by the Turkish Football Federation (TFF) for their alleged involvement in gambling. This came after a government agency found that 371 of 571 active referees held betting accounts, with 152 allegedly placing wagers on football matches.

According to TFF president Ibrahim Haciosmanoglu, ten referees had placed bets on more than 10,000 fixtures each over five years, with one official allegedly betting on 18,227 games.

 

Borussia Dortmund deliver €22.9 million net profit for Q1 of 2025/26

Borussia Dortmund have reported a net profit of €22.9 million in the club’s financial statements for Q1 of the 2025/26 financial year.

This marks a €21.3 million increase on last year’s figure of €1.7 million for the first quarter of 2024/25. This was largely driven by the Bundesliga club’s profit from player sales of €52.9 million, which is an increase of €33.6 million.

At the same time, however, football costs increased aswell. The total wage bill increased by €7.2 million to €66.1 million in the first quarter. Depreciation, amortisation and write-downs within the Group rose by €3.3 million to €27.8 million.

EBITDA sees €28.6 million increase

Dortmund’s overall revenue remained the same as last year, with the club generating €107 million for the quarter ended 30th September, in comparison to last year’s figure of €107.3 million.

Meanwhile, the club’s EBITDA rose from €25.7 million to €54.3 million, with an increase of €28.6 million on the prior-year quarter.

 

NWSL launches new advisory board featuring Alex Morgan, Eli Manning, and Sue Bird

The NWSL has launched a new advisory board to help grow the league commercially, featuring US women’s football legend Alex Morgan, NFL icon Eli Manning, and former women’s basketball star Sue Bird.

In a statement, the elite US women’s football league said the board “brings together some of the most influential voices in sports, entertainment and business.”

The new advisory board, which will meet on bi-annually from 2026, will help “identify bold opportunities for growth, storytelling, and innovation.” The inaugural 20-member board will include up to two delegates for the league’s 14 teams.

The formation of the board was conceptualised and led by NWSL commissioner Jessica Berman, who recently signed a three-year contract extension to remain in her role until 2028.

NWSL to utilise board’s “experience and influence”

“When we looked across our Clubs’ investor base, we realised how fortunate we are to have such an extraordinary group of cultural icons, athletes, and leaders who believe – and have invested – in the power and potential of this league,” Berman said.

“Their experience and influence will be instrumental as we continue building not just a league, but a movement - one that redefines entertainment and what’s possible in sports.”

 

Napoli’s Maradona Stadium is a “dump”, says owner

Napoli owner Aurelio De Laurentiis has referred to the club’s Stadio Diego Armando Maradona as a “dump”, citing a need for a new, modern stadium.

Speaking at the Football Business Forum organised by SDA Bocconi, the 76-year-old said: “The Maradona Stadium is a dump.

“It's an old stadium, with an athletics track that isn't ideal for spectators, and even a moat that makes it even more remote.”

During the forum, De Laurentiis spoke of his desire to build a new 70,000-seat venue to replace the existing stadium, which has been home to the Italian club since 1959.

Authorities are “football’s greatest enemies”

Reflecting on some of the bureaucratic hurdles which might affect potential infrastructure plans, De Laurentiis added: “We have a problem with the Italian authorities, who perhaps without realising it are football's greatest enemies.

“They don't realise that there are 25 million potential voters who care about this sport.”

The Football Cooperative St. Pauli eG (FCSP) has acquired a majority stake in Millentor Stadium, Bundesliga club FC St. Pauli announced.

Last year, the Hamburg-based club became the first in German football to launch its own cooperative.

More than 22,000 members have secured shares in FCSP, with a total value of around €29 million.

A different kind of football

Oke Göttlich, president of St. Pauli, said: “We have proven that a different kind of football and a different kind of financing are possible.

“A cooperative and sustainable approach to business is also possible in professional football – as is the participation of many people who take on shared responsibility.”

Bayer Leverkusen’s €120 million campus project rejected by local council

Bayer Leverkusen have encountered a setback in the club’s plans for a new campus project, which has been rejected by the Monheim city council, as Kicker reports.

The €120 million Bayer 04 Campus would feature 12 football pitches as part of an 22-hectare sports complex that could emulate Bundesliga champions Bayern Munich’s Säbener Straße headquarters, where the club’s head office and training facilities are located.

However, the council of Monheim am Rhein, the town near Leverkusen where the campus would be situated, has rejected the club’s proposal, citing concerns over “traffic congestion” as well as “ecological disruption”.

Club remain “open to discussion”

In a statement, Monheim council member Markus Gronauer said: “This is not a case of denying Bayer anything, but of stopping the current urban land-use planning procedure.

“Many citizens oppose this plan because it would destroy one of our last green corridors. It is not a rejection of the Bayer 04 performance centre in Monheim per se, but a signal: We need a revised plan that is better suited to our city.”

Bayer Leverkusen sporting director, Simon Rolfes, said the club remain “open to discussion,” despite the latest setback.

He added: “Meetings have been scheduled with the individual parties in a week’s time. We don’t have a Plan B. We will stick with this location and will carry on.”

Nottingham Forest and Olympiacos owner Marinakis goes on trial amid allegations of inciting gang violence

Nottingham Forest and Olympiacos owner Evangelos Marinakis has gone on trial in Athens, following allegations of inciting violence at sports events, and supporting a criminal organistaion.

The 58-year-old is among 142 fans who are facing charges of being involved in a criminal organisation, with four additional board members also involved.

Marinakis is facing two misdemeanour counts - for inciting violence with statements against authorities, and another for allegedly supporting a criminal group between 2019 and 2024.

Both Marinakis and the board members have denied any wrongdoing.

Could last more than a year

The charges date back to 2023, when a riot police officer, George Lyngeridis, was fatally injured outside a women’s volleyball match between Olympiacos and Panathinaikos.

More than 210 people are set to testify in total, while lawyers anticipating that the trial could last more than one year.

UK Government accused of "paralysing" £2.35 billion from Chelsea sale by Abramovich

A spokesperson of former Chelsea owner Roman Abramovich has blasted the UK Government for “paralysing” his company structures, preventing the funds from the club’s £2.35 billion sale from reaching war victims in Ukraine, according to a report from The Telegraph.

When Chelsea were sold to BlueCo in 2022, Abramovich promised that proceeds from the sale would go towards humanitarian aid in Ukraine, however these have remained frozen in an account belonging to his company Fordstam for the past three and a half years.

There is growing concern that less than half of the money could be left to go to relief in Ukraine. According to Fordstam’s latest accounts, £1.429 billion is owed to Camberley International Investments Limited, a Jersey-based company also owned by the Russian oligarch.

Fordstam’s accounts state that 'net proceeds of the sale, after allowing for other balance sheet items; will go to charity,’ leaving just £923 million from the original fee.

Earlier this year, the UK Government said it was prepared to take Abramovich to court, in order to resolve the ongoing issue.

Abramovich camp “deeply frustrated”

In response, a spokesperson for Abramovich told UK media: “Due to sanctions and a range of other governmental actions, Camberley International Investments Limited, as well as other structures with any form of historic link to Mr Abramovich, have been effectively paralysed since 2022.

“Consequently, no actions in relation to the frozen funds are possible to make without the government’s approval.
“We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far.

While the door for negotiations will remain open, we are prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.”