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.”

AC Milan and Inter Milan have completed the acquisition of the San Siro and its surrounding area, the two clubs confirmed.

Under the agreement, the Milan clubs will demolish the iconic 75,817-seat venue, which will subsequently be replaced by a new 71,500-capacity stadium at the same site.

In a joint statement, the Milan clubs revealed that they had signed the deed of sale with the Municipality of Milan. Although further terms of the agreement were not disclosed, the deal is worth €197 million plus VAT, according to Calcio e Finanza.

A new “world-class stadium”

The construction of the new stadium and broader regeneration project marks a “new chapter for the city of Milan and both clubs”.

The teams have given architecture firms Foster + Partners and MANICA the brief of designing the new “world-class stadium”.
 

Hoffenheim dismiss CEO and CFO

TSG 1899 Hoffenheim have dismissed CEO Markus Schütz and CFO Frank Briel, the German club announced.

In a statement, Hoffenheim said the dismissal of the two executives “with immediate effect” came as “the result of intensive discussions with all parties involved, which culminated in a mutual agreement to end the collaboration.”

Despite the two departures, the club say that their current management team, which comprises managing director of sport Andreas Schicker and managing director of marketing Tim Jost, remains fully functional.

Although further details were not disclosed, Barbara Bender is set to become the Bundesliga club’s new CFO, according to Kicker.

Club focusing on “action on the pitch”

Jörg Albrecht, chairman of Hoffenheim, said: “It’s important to keep the big picture in mind during turbulent times. That also means focusing on what defines us: the action on the pitch.

“Our current success proves us right: the path we’ve chosen is the right one. We will continue on this path with composure, determination, and open communication.”
 

Getafe in advanced negotiations over takeover by Qatar-based investment company

Qatar-based company, JTA International Investment Holding, is in advanced negotiations to take over LaLiga club Getafe, as reported by Marca.

JTA has held talks with current Getafe owner Angel Torres for several months, with a deal now close to being complete.

A potential agreement could include main shirt sponsorship, as well as naming rights to the club’s Coliseum Stadium home, while Torres would remain as Getafe’s president.

A change in ownership

Earlier this year, Getafe were linked to a potential takeover by Liverpool owner Fenway Sports Group (FSG), who completed positive due diligence on the team back in September, according to the Daily Mail.

Torres previously stated his intention to step down from his role after the renovation of Coliseum Stadium is complete, with the project set to be finished by the end of 2027.
 

INEOS and Tottenham reach out-of-court settlement following legal dispute

UK petrochemicals firm INEOS has reached an out-of-court settlement with Tottenham Hotspur to end its legal dispute with the Premier League club, according to The Telegraph.

In 2022, the Sir Jim Ratcliffe-owned company entered a five-year partnership with Spurs, which was worth £17.5 million, and designated the INEOS Grenadier as the club’s 4x4 partner.

That agreement was terminated in March, with Tottenham subsequently initiating legal action against INEOS, seeking £11 million in damages.

An ongoing legal battle

INEOS would then counter sue the club in September, alleging that Spurs had held talks with competitor Audi back in the summer of 2023, when Harry Kane transferred to Bayern Munich, which would constitute a breach of contract.

While terms of the settlement are not known, it is believed to be worth around half of the £11 million figure that Spurs had been seeking.
 

$250 million women’s sports fund Monarch Collective adds Viktoria Berlin to portfolio

Monarch Collective, a dedicated women’s sports private equity fund, has acquired a 38 per cent stake in FC Viktoria Berlin.

The investment into the German second tier side marks Monarch’s first in a European club.

The $250 million fund, which was launched in 2023 by Kara Nortman and Jasmine Robinson, also has stakes in the NWSL’s Angel City and San Diego Wave, as well as the league’s Boston Legacy expansion team, which will join NWSL in 2026.

Viktoria, which was founded in 2022 with an all-female ownership group, secured promotion to the 2. Frauen-Bundesliga earlier this year.

"A unique blend of creativity and ambition”

In a statement, Monarch Collective said: “As the first US investment into German professional women’s football, and Monarch’s first partnership outside of the US, this represents a bridge, sharing best practices and innovative approaches across continents.

“With FC Viktoria Berlin, we see a unique blend of creativity and ambition. We see a values-aligned founder group that will execute on their vision for what women’s football can mean for their community, their country, and the world.”
 

Data Spotlight: Ten games end Pradé's seven-year efficiency record at Fiorentina

ACF Fiorentina has dismissed sporting director Daniele Pradé and head coach Stefano Pioli following a poor start to the season - just four points from nine matches. Technical director Roberto Goretti has been promoted to sporting director and faces the immediate task of appointing a new head coach.

The decision to remove Pradé after seven years comes despite a record that compares favourably with other major Italian clubs. Data from Off The Pitch benchmarking Fiorentina against SS Lazio, AS Roma, and Atalanta from 2019/20 through 2024/25 shows Pradé outperformed both Roman clubs across key metrics while building a squad that reached two UEFA Conference League finals.

Fiorentina spent €1.43 million per league point under Pradé - less than Lazio (€1.53 million) and significantly below Roma (€2.75 million). Only Atalanta, widely regarded as Serie A's best-run club, achieved better efficiency in the comparison.

Squad value development reinforces the picture. Over the past 36 months, Fiorentina's squad value increased 34 per cent according to Off The Pitch's Player Valuation - closely matching Atalanta's 33 per cent growth and far exceeding Lazio's 3 per cent and Roma's 7 per cent decline. In the transfer market, Pradé recorded net spending of only €33.8 million, while both Lazio and Roma each registered deficits approaching €100 million.

Beyond the spreadsheets, Pradé delivered tangible European success - two Conference League finals in consecutive seasons, even if silverware remained elusive.

Ten-match winless start

The dismissal highlights football's brutal short-termism. Despite seven years of efficient squad building, competitive European runs, and outperforming major rivals on key metrics, a ten-match winless start proved decisive. For ownership groups, recent form weighs heavier than sustained performance - regardless of how early in the season the crisis emerges.

Goretti inherits a squad that the data suggests is well-constructed and appreciating in value. Whether that foundation survives the pressure of a relegation battle will depend on results in the coming weeks, not the efficiency metrics that built it.

Juventus are set to appoint Newcastle United's chief commercial officer Peter Silverstone as the Italian club’s new chief business officer, according to The Athletic.

Silverstone, who joined Newcastle in 2022, is currently on gardening leave ahead of his move to Turin.

Previously, Silverstone spent seven years at fellow Premier League side Arsenal, where he served as business development officer, commercial director, and chief commercial director.

Newcastle’s latest move

This marks the latest executive move at Newcastle, after the club recently named former Nottingham Forest chief football officer as their new sporting director.

In September, Newcastle appointed David Hopkinson as the club’s CEO to replace Darren Eales, who stepped down from his role following his diagnosis with a form of blood cancer, which would require treatment and rest.

Hellas Verona initiate process of building new stadium

Serie A club Hellas Verona have initiated the process of building a new stadium, the Italian club announced.

The Serie A side said they had submitted a project feasibility study to the technical offices of the Municipality of Verona. This follows the club’s takeover by US private equity fund Presidio Investors, which was completed in January this year.

Under the proposal, Verona’s new stadium will be located at the same site as their current home, the Bentegodi Stadium. The new venue will have a capacity of around 32,000 seats, according to Italian publication Calcio Finanza.

Italo Zanzi, Executive Chairman of Hellas Verona, said: “We have made a substantial investment to develop and deliver a feasibility plan that provides the foundation for a successful project.

“A great deal of work lies ahead, but with a qualified team of experts, we are committed to building a stadium that will support the club’s growth plan on and off the field.”

Stadium to host Euro 2032 matches?

Verona are also hopeful that the proposed stadium be considered as a host venue for the UEFA men’s Euro 2032 championships, which will be held in Italy and Turkey, stating that it ‘aligns with the [Italian Football Federation] FIGC and UEFA timelines for consideration to host UEFA Euro 2032.’

The FIGC will need to submit its list of host venues by 31st July 2026, with the condition that the project receives approval and funding, and is ready for construction by April 2027.

Proceeds from £2.35 billion Chelsea sale remain in account that owes £1.54 billion to Abramovich-owned companies

There is growing concern that less than half of the proceeds from Chelsea’s £2.35 billion sale by former owner Roman Abramovich to the Todd Boehly-led consortium will go towards humanitarian aid in Ukraine, according to The Times.

In 2022, the Premier League club was sold to BlueCo, the group comprising LA Dodgers owner Boehly and Clearlake Capital, after the UK Government imposed sanctions on Russian businessman Abramovich due to the country’s invasion of Ukraine.

At the time, Abramovich promised that all money from the sale would support victims of the war in Ukraine. However, the proceeds have since been frozen in a bank account belonging to Abramovich’s Fordstam, Chelsea’s former parent company.

Company owes £1.54 billion

As per Fordstam's newly published accounts, £1.54 billion of loans will need to be paid off to companies owned by the Russian oligarch before the balance can go towards a charitable organisation. As a result, only £923 million from the original sale would be left.

In the three and a half years following the sale, almost nothing has so far been given to the foundation because of a dispute between Abramovich and the UK Government over where the money should be spent.

Copa Libertadores final could be staged outside of South America, says Conmebol executive

The final of the Copa Libertadores could potentially be played outside of South America in the future, according to Conmebol’s commercial director, Juan Emilio Roa.

Roa told The Athletic that the prospect of an overseas Libertadores final has been discussed by the tournament’s organisers, as part of a plan to help increase global interest in the competition.

“This is a topic that is normally on the table and under evaluation,” he said.

“I can tell you that we have now decided on a roadmap for the next years, but we are evaluating, for sure. This is part of the things we need to do to grow the interest, so we are working on a mix of things to make the interest grow outside of South America.”

Madrid hosted final’s second leg in 2018

Previously, the second leg of the 2018 Libertadores final between Argentinian clubs Boca Juniors and River Plate was moved to Real Madrid’s Santiago Bernabeu Stadium, due to safety concerns after an attack on the Boca Juniors team bus outside the Estadio Monumental Antonio Vespucio Liberti in Buenos Aires.

This year’s final between Brazilian sides Palmeiras and Flamengo will be held at Peru’s Estadio Monumental on 29th November.

US businessman David Checketts has acquired a stake in Velocity Sports Partners, the holding company that owns Premier League club Burnley and LaLiga’s RCD Espanyol.

The investment is worth around $200 million according to Bloomberg, and marks the first foray into sports investment by the newly launched private equity fund, Cynosure Sports Capital.

The fund, which was established in April by Checketts and the Eccles family, is targeting $1.2 billion in capital commitments.

The latest venture between Checketts and Pace

As reported by Sports Business Journal, the investment was built on the relationship between Checketts and Burnley chairman Alan Pace. Checketts is the former founder of MLS club Real Salt Lake, where Pace served as president between 2006 and 2008.

Velocity, the sports investment arm of Pace’s ALK Capital, recently completed a takeover of Espanyol for a reported fee of $150 million.

Fiorentina report €23 million net loss for 2024/25

Italian club Fiorentina have reported a net loss of €23 million for the 2024/25 financial year, marking a significant increase on last year’s loss of €5.9 million.

This comes despite Fiorentina generating capital gains of €56.2 million, which is more than double last year’s figure of €26 million.

For 2024/25, the club delivered €54.7 million in Serie A broadcast rights revenue, while pocketing €14.8 million from their run to the semi-finals of the UEFA Conference League.

However, the clubs budget costs rose from €204.6 million to €216 million over the last year, with personnel costs accounting for €94.7 million.

Club “very concerned” amid stadium redevelopment

In the announcement of Fiorentina’s financial statements for 2024/25, the club said they are “very concerned” over a decline in match-day revenue, due to the ongoing renovation of the Stadio Artemio Franchi.

The Florence-based club revealed that the reduction of the venue’s capacity to 50 per cent caused a significant drop in match-day revenue, with only around 21,600 seats available last season.

“In the 2025/26 season, construction work will continue to focus on the areas already affected by the first phase of the project, such as the Fiesole curve and parts of the Maratona and Tribuna stands,” Fiorentina said.

“At the moment, however, we have not received any assurances regarding the expected completion of the current work at the Franchi by 2026. On the contrary, based on some technical checks, we are very concerned that this will actually happen within the timeframe known to date.”

USL names Premier League executive as president of new elite US division

The USL has appointed Premier League director of football Tony Scholes as president of the US organisation’s new first division.

Scholes will move to the US and take up his new position at the end of the 2025/26 season.

Earlier this year, the USL approved plans to adopt promotion and relegation, with a new two-tier format set to launch in 2028. The elite league will receive US Soccer’s Division One designation, meaning it will be on the same level as MLS.

Scholes’ new chapter

In his new role, Scholes will oversee the launch of the new league, as well as its operations, helping establish its structure and long-term development.

Scholes has held his current position since 2021, when he joined the Premier League after a 17-year tenure as CEO of English club Stoke City.

Feyenoord to invest extra €3-5 million annually into De Kuip as part of plan to acquire stadium

Feyenoord Rotterdam will invest an additional €3 million to €5 million annually into the club’s De Kuip home, as part of a plan to permanently acquire the stadium.

In a statement, the Dutch club revealed it had agreed a ‘formal unification proposal’ with the stadium’s board, which will be presented to shareholders for a vote at an upcoming meeting in December.

Under the proposal, the stadium will need to issue new shares, which Feyenoord will acquire for around €3.7 million, increasing the Eredivisie club’s stake in De Kuip to 95 per cent.

The 47,500-seat venue has been home to the Dutch club since 1937.

Club to invest more than €69 million

If approved, the proposal will see the club commit to the aforementioned additional annual payments, in accordance with a CAPEX plan that totals more then €41 million. These investments will be made over the next nine years, alongside the stadium’s existing maintenance plan of around €28 million.

Dennis te Kloese, general manager at Feyenoord, said: “This step allows Feyenoord to truly become the boss of its own club, which is good news for our entire football organisation, our supporters, and all our other partners. It not only ensures the continuity of the stadium but also the unique identity of Feyenoord.”

Bayern Munich have announced record revenue of €978.3 million for the 2024/25 financial year, marking a 2.8 per cent increase on last year’s then-record figure of €951.5 million

The Bundesliga champions meanwhile revealed a net profit of €27.1 million, down from €43.1 million in 2023/24.

Bayern’s EBITDA saw an 11.3 per cent increase over the last year, reaching €187.8 million.

“FC Bayern remains financially strong. Despite turbulent times and a transfer market that has reached new heights, we have once again achieved record revenues and posted solid profits. This demonstrates the extraordinary strength and substance of our club. We are not volatile. FC Bayern is stable," CEO Jan-Christian Dreesen said.

Hainer re-elected as president

During Sunday’s annual general meeting, Herbert Hainer was re-elected as Bayern’s president, with Professor Dr. Dieter Mayer and Walter Mennekes also re-elected as first vice president and second vice president respectively.

Hainer, who has held his position since replacing longtime former president Uli Hoeneß in 2019, won by a landslide result, accounting for 95.63 per cent of the votes.

 

Mike Ashley ‘to submit £10 million bid’ to buy Sheffield Wednesday

Former Newcastle United owner Mike Ashley is readying a £10 million bid to take over Sheffield Wednesday, according to The Guardian.

The Yorkshire club was recently placed in administration, and incurred a 12-point deduction from the EFL, after former owner Dejphon Chansiri opted to relinquish control of the Championship side.

As recently reported by multiple UK outlets, administrator Begbies Traynor has asked prospective buyers to prove that they have a minimum of £50 million in funding in order to be considered.Three bidders have so far shown proof of funds, with additional parties also likely to enter the race.

A return to ownership?

61-year-old Ashley was previously the owner of Newcastle United between 2007 and 2021, before the Premier League club’s £300 million takeover by a Saudi-led consortium.

The UK businessman has reportedly shown adequate proof of funds, with Ashley now able to conduct due diligence, and to access Wednesday’s accounts and data room.

 

MLS club Seattle Sounders seeking “strategic capital rise”

Seattle Sounders are seeking a “strategic capital rise”, the MLS club have announced.

In a statement, the franchise revealed that they had retained Moelis & Co to pursue new investment in the club, which has an estimated value of $825 million according to Sportico.

The fresh funding could contribute towards the construction of a new stadium, with Sounders majority owner expressing a desire for a football-specific venue in an interview with the Seattle Times earlier this year.

The club are understood to be considering building a new stadium at their Longacres site in Renton Washington, where the team’s training ground and headquarters are located. However, Soudners’ current lease at Lumen Field, which also houses the NFL’s Seattle Seahawks, is not set to expire until 2032.

The “right time” for new investment

Potential investment would help Sounders capitalise on growing interest in the sport ahead of next year’s FIFA World Cup in the US, Canada, and Mexico.

Sounders have been owned by US businessman Adrian Hanauer since he acquired the majority stake previously held by founding investor Joe Roth in 2015. Hanauer said: “We’ve built a foundation of excellence over the past 51 years, and we believe that now is the right time to seek additional partners who can help us achieve our vision for the next 50 years.”

 

Sevilla FC part ways with CEO

Sevilla FC have parted ways with CEO Jose Gonzalez-Dans, the LaLiga club announced on Friday.

In a statement, Sevilla said: ‘Sevilla and José González-Dans, the club's General Manager until now, have ended their employment relationship.

‘Sevilla would like to express its gratitude to González-Dans for his dedication and commitment during this year at the club and wishes him all the best in the future.’

One-year tenure at Sevilla

Gonzalez-Dans joined the club in October last year, following the departure of former general manager Jose Maria Cruz.

Previously, he spent six years at fellow Spanish club Deportivo de La Coruña between 2014 and 2020, serving as CFO, corporate general director, and eventually managing director.

 

Munich set to host Champions League final in 2028

Munich is set to host the 2028 Champions League final, after UEFA revealed Allianz Arena as the sole bidder for the showpiece match.

For the following year, London’s Wembley Stadium and Barcelona’s Camp Nou are both looking to stage the Champions League final in 2029.

UEFA has revealed the full list of bidders to host the finals of its men’s and women’s club competitions for 2028 and 2029. In a statement, European football’s governing body said: “The declarations of interest are not binding, and the final proposals must be delivered with the bid dossiers by 10th June.”

A third final in Munich

This will mark the third time that the Champions League final has been held at the 75,024-seat Allianz Arena, after Bayern Munich’s home stadium hosted last season's final between PSG and Inter Milan, and previously in 2012.

Wembley has hosted three Champions League finals in 2024, 2013, and 2011, while the Camp Nou last hosted it in 1999.

Eintracht Frankfurt have reported a net loss of €8.3 million for the 2024/25 season in the German club’s latest annual financial statements.

The Bundesliga club’s revenue dropped slightly from a record figure of €390.5 million in 2023/24 to €389.1 million for this year.

Frankfurt say that last year’s record revenue was largely driven by €143.2 million in transfer revenue. By contrast, the club generated €118.6 million in transfer revenue for 2024/25.

Over the last year, Frankfurt’s broadcast revenue saw a 16.5 per cent increase to €107.9 million, largely due to their participation in last season’s Europa League campaign. Meanwhile, match-day revenue rose by 15.4 per cent to €57.8 million, and marketing revenue was up six per cent to €75.8 million.

Equity increase despite loss

For 2024/25, Frankfurt’s expenditure was up by around nine per cent to €397.5 million, primarily because of investments into the team’s playing squad.

Despite the overall loss, the club’s equity increased from €51.7 million to €69 million, after a successful capital increase.

Sheffield Wednesday bidders asked to show proof of £50 million funding

Prospective Sheffield Wednesday bidders have been told by administrators to prove that they have £50 million in funds in order to buy the English club, The Telegraph reports.

Wednesday entered administration last Friday, prompting a 12-point deduction by the EFL, with owner Dejphon Chansiri relinquishing control of the Championship side.

Begbies Traynor, the Manchester-based firm appointed as the club’s administrators, are hopeful of completing a sale by the end of the year.

Bidders are concerned however, that the club’s price could see a further increase of ‘tens of millions’.

Mike Ashley among bidders

US billionaire John McEvoy is among the parties interested in taking over the club. The American’s current ownership portfolio also includes stakes in the NHL’s Nashville Predators, and in MLS’ Colorado Rockies.

Former Newcastle United owner Mike Ashley has also expressed interest in the club, having previously been interested in Derby County and Coventry City.

Cádiz CF's subsidiary Nomadar to go public on Nasdaq

Spanish club Cádiz CF have announced that its subsidiary company, Nomadar, will be going public on the U.S. stock exchange Nasdaq.

According to the club's president, Manuel Vizcaíno, this step onto the stock market represents a pivotal moment that will mark "a before and after" not only in the history of Cádiz CF but also in the landscape of professional Spanish football.

The primary goal behind this initiative is to secure funding for the development of 'Sportech City,' an ambitious project envisioned by Cádiz CF.

“more solid, more modern”

In a letter to the fans, Vizcaíno expressed his belief that through such ventures, Cádiz CF is establishing itself at the pinnacle of the business world with confidence and pride.

He further stated that the aim is to evolve into a "more solid, more modern" club capable of generating new resources.

Anheuser-Busch InBev in exclusive negotiation period to replace Heineken as Champions League partner

UC3, the joint venture between UEFA and European Football Clubs (EFC), has confirmed an “exclusive negotiation period” with brewing company Anheuser-Busch (AB) InBev.

According to The Athletic, AB is offering a six-year deal worth €200 million annually from 2027, a significant increase on UC3’s current three-year contract €120 million a year contract with Heineken, which was signed in 2024.

If finalised, an agreement would see AB InBev replace Heineken as the beer sponsor of UEFA competitions. UEFA’s partnership with Heineken dates back to 1994, when the Dutch brewing company initially promoted Amstel, before switching to its flagship beer brand from 2005.

Belgium-based AB InBev, which owns brands such as Budweiser, Corona, and Stella Artois, previously had a partnership with the Premier League between 2019 and 2024.

“competitive bidding process”

In a statement, UC3 confirmed it had agreed “to to enter an exclusive negotiation period” with AB InBev over becoming the designated beer partner of all UEFA men’s club competitions.

It continued: “The decision by UC3 follows a competitive bidding process launched in early October by UC3, supported by its global marketing and sales agency Relevent Football Partners.”

Real Madrid are seeking “substantial damages” from UEFA for blocking the proposed European Super League.

This follows the Madrid Provincial Court’s dismissal of appeals from UEFA, the Spanish Football Federation (RFEF) and LaLiga on Wednesday, reaffirming the EU Court of Justice’s (ECJ) ruling that UEFA had abused its dominant position.

Previously, the ECJ ruled that FIFA and UEFA’s actions in prohibiting clubs and players from participating in other leagues were “unlawful” in 2023.

The club’s response

In a statement, Real Madrid said: “This judgment paves the way for substantial claims to compensate for the damages suffered by the club.

Stating that “no agreement had been reached” with UEFA over reforms, the club said it will “continue working for the good of global football and fans, while requesting compensation from UEFA for the substantial damages it has suffered.”

Madrid are now the only remaining team, left in the Super League, after Juventus and more recently Barcelona abandoned the project. When the breakaway league first launched as a 12-team competition in 2021, nine of the original clubs quickly withdrew from the project amid backlash from fans.

Eagle Football Group postpones annual financial statements announcement for 2024/25

Eagle Football Group has announced the postponement of its annual financial statements for the 2024/25 season.The group which is the company behind Olympique Lyon was set to reveal its latest statements on 28th October.

The delay is primarily due to the ongoing completion of an external review of "flows between the company and its related parties."

In a statement, Eagle Football said the decision was made by its board of directors, with the results set to be published no later than on 30th November.

Expecting “very significant loss”

“This postponement does not call into question the confidence of management in the company's ability to achieve its objectives for the 2025/2026 season and to meet its commitments to institutions, key suppliers, agents, and partners 1,” Eagle Football said.

As announced in July 2025, given the high level of operating expenses, the change in scope, and non-recurring revenues recorded in the 2023/2024 fiscal year, the group anticipates a very significant loss for the 2024/2025 financial year.

FIFA & DAZN to relaunch FIFA+ platform in 2026

FIFA and DAZN have announced the relaunch of the FIFA+ direct-to-consumer (DTC) platform in 2026.

Dubbed as the ‘Global Home of Football’, the channel will feature live and on-demand matches, as well as highlights, a weekly analysis show, documentary content, and interviews.

Relaunching ahead of next year’s World Cup after initially launching without DAZN in 2022, FIFA+ will be available with both free and premium options.

A “game-changing” partnership

Shay Segev, CEO of DAZN Group, said: “From next year, millions of fans around the world will be able to enjoy even more top-tier football content for free on FIFA+ on DAZN.

“This launch is a game-changing step forward for DAZN and FIFA to combine their scale, technology, content and partnerships for the benefit of fans and partners across the globe.”

Premier League chairwomen re-election to receive wide support from clubs

Premier League chairwoman Alison Britain is expected to receive wide support from clubs, as she seeks to be re-elected at an upcoming shareholders’ meeting on 21st November, The Times has reported.

The 60-year-old, who first became the English top flight’s chairwoman in 2023 on an initial three-year term, played a leading role in bringing the 115 charges against Manchester City in February of that year.

During the meeting, clubs are due to decide on scrapping the current PSR, in favour of either squad-cost ratio rules (SCR), or anchoring regulations that would limit teams’ spending to five times the bottom placed club’s prize money and broadcast revenue.

Backing of clubs and CEO

A number of clubs, as well as Premier League CEO Richard Masters, are set to support Britain’s re-election.

Meanwhile, the Premier League’s nominations committee - which includes independent director Dharmash Mistry and Liverpool CEO Billy Hogan - has formally recommended that club’s re-elect her next month.
 

Paris Saint-Germain have posted record revenue of €837 million for the 2024/25 financial year.

This represents an increase on the previous year’s then-record figure of €806 million, achieved during the 2023/24 season.

The Ligue 1 club’s overall turnover includes €175 million in matchday income. Commercial revenue, however, fell by more than €13 million year-on-year, down to €367 million.

Despite generating record revenue for 2024/25, a spokesperson told Bloomberg that the club remain unprofitable but is close to breaking even, without disclosing the size of the loss.

On-pitch performance drives growth

Last season’s success on the pitch played a major role in Paris Saint-Germain’s record turnover, with the club winning their first-ever UEFA Champions League title and reaching the final of the FIFA Club World Cup.

At the same time, the club reduced its payroll to less than 65 per cent of revenue, equivalent to €544 million. Paris Saint-Germain have previously spent more than 111 per cent of their turnover on wages.
 

Luigi de Siervo defends plans for Australia game

Serie A CEO Luigi de Siervo has defended plans for this season’s AC Milan vs Como league match to take place in Australia.

Plans for the game, which is set to be held at Perth’s Optus Stadium on 8th February, received the green light from UEFA earlier this month.

However, following the recent cancellation of LaLiga’s proposed Miami fixture between Villarreal and FC Barcelona after backlash from players, coaches, and fans, Serie A is facing mounting pressure to scrap the Australia game.

Speaking to Cronache di Spogliatoio, de Siervo said: “We as [Serie A] must look five to 10 years ahead, also to avoid what is happening in France, where the value of football on TV has been squandered in recent years and there is a risk of a championship of an infinitely lower level in the coming years.”

“We have a strategic goal, a very small one in reality, but we must insist because we believe it is a great advantage to go to Australia and showcase our champions in a country that has many interests linked to Italy.”

Closing the gap

Elsewhere in Serie A, AC Milan owner Gerry Cardinale has described the Premier League as “an economic black hole that drains wealth from the continent”, during an interview on The Varsity podcast.

Cardinale, who is also the founder of the club’s owners RedBird Capital Partners, reflected on his aim of increasing the club's revenue to the level of Premier League clubs.

“The real competition isn't the other 19 Serie A teams: it's the Premier League,” he said. “That's an economic black hole that drains wealth from the continent. They have almost four times the TV revenue of other European leagues, and that's a problem.”
 

Genoa and Bologna report 2024/25 financial results

Genoa and Bologna have reported their financial accounts for the year ended 30th June 2025.

Genoa have announced a loss of €32.5 million for the 2024/25 financial year, marking an improvement on last year’s loss of €37.4 million.

In December 2024, Romanian businessman Dan Sucu became the majority owner of Genoa, acquiring a 77 per cent stake in the club, with these results coming as the last under its previous ownership, US investment firm 777 Partners.

The club’s EBITDA dropped slightly from €30.7 million to €27 million. For the second successive year, Genoa incurred substantial depreciation and amortisation charges, which accounted for more then €50 million.

Bologna return to profitability

Meanwhile, fellow Serie A side Bologna have announced a profit of around €14 million for 2024/25, in the club’s first profitable year since 2004.

The club reported revenue of more than €224 million, which was largely driven by the team’s participation in last year’s Champions League campaign. Bologna’s ticket revenue doubled to €16.8 million, while the club’s commercial revenue also doubled to reach more than €27 million.
 

Club Brugge post €18.1 million profit for 2024/25

Club Brugge have revealed a profit of €18.1 million in the Belgian club’s annual accounts for the 2024/25 season.

This marks an increase on last year’s profit of €3.1 million and represents the club’s eleventh consecutive year of profitability. The consistent profits have brought Club Brugge’s equity close to the €100 million mark.

For 2024/25, Brugge generated €61.1 million in revenue from their performance in last season’s Champions League campaign, after reaching the round of 16.

Transfer profits

Meanwhile, the Pro League club delivered €31.7 million in transfer revenue.

The club made a profit of €54.5 million on transfers this summer, with the sales of players such as Ardon Jashari, Chemsdine Talbi, and Maxim De Cuyper. These were not included in the 2024/25 figures, as they took place after the end of the accounting period on 30th June.