American businessman John Textor, who previously held a 43 per cent stake in Crystal Palace, has made a $550 million offer to acquire Wolverhampton Wanderers from Chinese conglomerate Fosun Group.

The proposed deal includes $200 million in cash and a further $350 million in shares in Textor’s multi-club company, Eagle Football Group (EFG), a company which was formed by Eagle Football Holdings, to consolidate Eagles ownership of Botafogo in Brazil, Olympique Lyon in France, and RWDM Brussels in Belgium.

Off The Pitch understands the bid was submitted a couple of weeks ago, shortly after Wolves’ draws against Tottenham Hotspur and Brighton.

For Textor and Eagle Football Group, Wolverhampton represents the only Premier League club they have been interested in purchasing, largely due to the club’s strong Portuguese connections in recent years through both players and managers. Beyond Wolves, Textor’s focus has mainly been on acquiring clubs in the Championship.

Relegation scenario

Textor is currently in talks with Fosun Group, with discussions said to include how the agreement would be structured should Wolverhampton suffer relegation from the Premier League to the Championship this season.

Wolverhampton currently sits at the bottom of the Premier League table with just two points from nine matches - six points adrift of Fulham, who occupy the first position above the relegation zone.
 

Sheffield Wednesday have multiple interested parties, as club seek quick sale

Sheffield Wednesday have multiple parties interested in taking over the Championship club, and are hopeful of a quick sale, according to UK media reports.

The Yorkshire club were placed in administration last Friday, ending the decade-long tenure of Thai businessman Dejphon Chansiri.

Sheffield-based Begbies Traynor, which has been appointed as Wednesday’s administrator, is overseeing the club’s affairs. Kris Wigfield, managing partner at Begbies Traynor, told the BBC that there are currently “four or five interested parties that look like the real deal,” with initial discussions due to take place this week.

Although the EFL does not typically allow takeovers to take place within 21 days of a team entering administration, the organisation is willing to be flexible to facilitate a quick sale of Wednesday, provided that it is satisfied that the correct process has been followed.

Further sanctions

Wednesday could face further sanctions from the EFL, due to breaches of its financial rules, which could lead to an additional point deduction. The club was already docked 12 points after being placed in administration last week, with Wednesday currently at the bottom of the Championship on -6 points.

Despite the threat of further sanctions, prospective owners are understood to not be deterred by this, as any potential deductions would only apply this season.
 

Tottenham executive Rebecca Caplehorn to leave the club at the end of January

Tottenham Hotspur’s head of administration and football governance, Rebecca Caplehorn, is set to leave the club at the end of the January transfer window, according to The Athletic.

Caplehorn joined as head of football operations in 2015, before being promoted to her current role in 2020. Previously, she spend five years at Championship club Queens Park Rangers as finance director.

Caplehorn’s responsibilities will be assumed by an incoming director of football operations.

Executive moves at Spurs

This comes as the latest executive departure from Spurs in recent months, following the exit of the club’s longtime chairman Daniel Levy, which was announced in September.

Peter Charrington was hired as non-executive chairman in Levy’s stead, before Fabio Paratici made his return to Spurs as co-sporting director alongside Johan Lange.

Last week, Eric Hinson joined the club’s board as a non-executive director.
 

Borgen family join Austin FC ownership group, valuing club at $912 million

US investment fund FirstTracks Sports has joined the ownership group of Austin FC, giving the MLS franchise a valuation of $912 million, according to Sportico.

FirstTracks, led by Jon-Erik Borgen, has acquired a non-controlling minority stake in Austin, becoming the sixth addition to the club’s ownership group in 2025.

Austin’s founder and CEO, Anthony Precourt, will remain the club’s majority owner, with all seven members of the original investment group retaining their ownership, including actor Matthew McConaughey.

Austin’s latest investor

FirstTracks is part of the ownership group of National Women's Soccer League (NWSL) expansion club Denver Summit.

Borgen also serves as president and CEO of Denver-based asset management firm Borgen Investment Group.

Sheffield Wednesday have been placed in administration and hit with an automatic 12-point deduction by the EFL.

Wednesday, who are now bottom of the Championship table with -6 points, have been embroiled in financial turmoil recently, with the Yorkshire side failing to pay players on time for five of the last six months.

The club’s owner, Thai businessman Dejphon Chansiri, has now opted to place Wednesday in administration, with Sheffield-based Begbies Traynor’s Julian Pitts, Kris Wigfield and Paul Stanley appointed as the club’s joint administrators.

In a statement, the EFL said that the club’s situation “presents Sheffield Wednesday with the opportunity to move matters towards a successful sale and secure future under new ownership.”

Administrators seek new owner “as soon as possible”

Wednesday are understood to owe in the region of £1m to HMRC in unpaid tax. This is believed to be the catalyst for finally applying for administration.

Kris Wigfield, joint administrator and managing partner at Begbies Traynor, said:

“The joint administrators have taken over the running of the club with immediate effect to protect the interests of creditors, and to ensure Sheffield Wednesday can continue operating while we seek a new owner as swiftly as possible.

“Due to increased financial pressure on the club, the owner has chosen to place the club and the stadium company into administration which will enable us to market the club and the stadium as a whole, which is great news for supporters of the club.”

 

Hertha Berlin extend bonds for a further three years

Hertha Berlin have extended the club’s €40 million Nordic bond for a further three years, after exercising an option to amend its terms and conditions.

The loan, which was first taken out in 2018, was initially to expire in 2023, before being extended until on 8th November this year. However under the revised terms, the interest rate will now drop from 10.5 per cent to 6.5 per cent annually, with the loan running until 8th November 2028.

In a statement, the 2. Bundesliga club said they are also offering to buy back bonds “with an initial total nominal amount of up to €20 million, at a purchase price of 100 per cent of the nominal amount as part of a voluntary, public partial repurchase offer," enabling bondholders to return a portion of their shares.

Bolster club’s “long-term stability”

Ralf Huschen, managing director at Hertha Berlin, said: “The exercise of the option and the repurchase offer are part of our forward-looking financial strategy, with which we can further strengthen the long-term stability and flexibility of Hertha BSC and sustainably optimise the financial structure of our club.

Dr. Peter Görlich, also managing director at Hertha, added: “With these measures, we are continuing our responsible course of financial consolidation in order to further develop the club's financing structure in a targeted manner and create a solid and sustainable basis for Hertha BSC's sporting and economic future.

 

Spanish court upholds LaLiga's control over match scheduling

The Supreme Court of Spain has dismissed the Spanish Football Federation’s (RFEF) appeal over the staging of LaLiga matches on Mondays and Fridays, ruling in favour of LaLiga.

The court ruled that the power to decide dates and times of league matches “falls exclusively within the competence of LaLiga”, ordering the RFEF to cover legal costs.

In its latest ruling, the Supreme Court added that the RFEF’s “coordination” with LaLiga should be solely to avoid conflict with other national or international competitions, but does not “imply any authorisation of veto power”, reaffirming the organisation’s exclusive authority to set fixture schedules.

LaLiga and RFEF’s legal battle

The longstanding legal dispute dates back to 2019, when former RFEF president Luis Rubiales announced that the federation would not authorise Monday matches, and would impose limits on Friday fixtures.

In August 2019, Friday matches were temporarily authorised by Madrid’s Commercial Court, however the ban on Monday matches would remain in place.

In June 2020, Madrid’s Provincial Court overruled the Commercial Court, enabling LaLiga to organise matches on both days and ruling that the RFEF could not prevent this. The Spanish Sports Council (CSD) would later intervene in 2022, allowing Spain’s top flight to hold matches on Mondays and Fridays.

There are growing doubts that the Serie A matchup between AC Milan and Como will be staged in Australia as planned.

The Asian Football Confederation (AFC) is facing mounting pressure to not sanction the fixture, which is set to take place at Perth’s Optus Stadium on 8th February.

In order for the game to go ahead, the match will require approval from the AFC, Football Australia, and FIFA, before the plans are finalised by Serie A.

Meanwhile, sources with knowledge on the matter believe that the likelihood of the match being played in Australia is decreasing, after LaLiga scrapped plans for its US game.

"If we play in Italy, even better"

Earlier this week, LaLiga announced that the Villarreal vs FC Barcelona fixture would no longer be held in Miami, following backlash from players, coaches, and fans.

At a press conference ahead of AC Milan’s game against Pisa, head coach Massimiliano Allegri addressed the issue and expressed his support for keeping the match in Italy.

“The important thing is that a decision is made as soon as possible. If we play in Italy, even better. If we have to go to Perth, we’ll get organised. It’s an important match.”
 

Sporting CP complete €225 million bond issue to fund stadium renovation

Sporting CP have completed a €225 million bond issue through the club’s subsidiary Sporting Entertainment.

This marks the largest bond issue by the Portuguese club, and is intended to help fund the renovation of their Jose Alvalade Stadium, as well as repaying existing debt and financing Sporting Entertainment’s operations.

In a statement sent to the Portuguese Securities Market Commission (CMVM), Sporting Entertainment revealed the bond issue has a maturity period of 28 years, as well as a 5.75 per cent fixed annual interest rate.

Sporting’s renovation project

The redevelopment of the Jose Alvalade Stadium will see the club add new access lounges, screens, and a VIP hall.

The renovation project will also include the installation of a new LED lighting system, and forms part of Sporting’s strategic plan from 2024 until 2034.
 

Dan Sucu intends to list Genoa on stock exchange alongside Rapid Bucharest

Dan Sucu, the owner of Genoa and Rapid Bucharest, has said he plans to form a holding company comprising both teams, which he intends to list on the stock exchange.

The 62-year-old told Romanian business publication Ziarul Financiar: “The strategy for Rapid and Genoa is to financially consolidate the two clubs and create synergy between them.

“In the future, we could set up a holding company that would be listed on the stock exchange.”

Debts of €150 million

During the interview, Sucu also revealed Genoa have historical debts of around €150 million, and face an annual deficit of €15 million to €20 million.

Sucu, who became the majority shareholder of the Serie A club in December 2024, told the newspaper that he has invested €40 million into both teams. According to the Romanian businessman, Genoa requires annual investments of €80 million in order to cover the club’s expenses.
 

Stade Brestois face setback as court halts new stadium project

Stade Brestois have suffered a setback in their plans for a new stadium after a court suspended construction of the French club’s proposed venue.

Brest had received permission to build the 15,000-seat Arkéa Park in June this year through a prefectural decree, allowing the project to move forward with completion targeted for 2028.

However, on Wednesday, the Rennes administrative court ruled that there was “insufficient justification” for the stadium meeting an “imperative reason of major public interest” — a requirement for obtaining the decree that permitted the project to proceed despite its potential harm to wildlife in the designated area.

€30 million in public funds

According to L’Équipe, the court’s decision followed complaints from three environmental protection groups opposing the €106.5 million development.

Public funding will account for €30 million of the total cost, provided by Brest Métropole, the town of Guipavas, the Finistère department, and the Brittany region.
 

Data Spotlight: Commercial growth offsets losses as Bristol City explores sale

After nearly 30 years of ownership, Bristol-born billionaire Steve Lansdown could be on the verge of selling Championship club Bristol City. CEO Tom Rawcliffe has confirmed the club is open to investment, with previous takeover talks involving Saudi government official Turki Alalshikh.

Data from Off The Pitch reveals a club with strong growth momentum but persistent financial losses - a mixed picture that will shape any valuation discussions.

Benchmarking Bristol City against Championship peers between 2016 and June 2024 shows the club has significantly outpaced rivals in revenue growth. Total income rose 160 per cent over the period to €49.3 million, meaning that Bristol City generate more revenue than any other non-parachute payment club in the Championship. Millwall recorded the second-highest growth rate among peers, but their total revenues remain roughly half of Bristol City's level.

The standout metric is commercial revenue, which grew 328 per cent to €27.5 million - by far the strongest performance in the peer group. Sheffield Wednesday, in second place, managed just 29 per cent commercial growth over the same period.

Financial losses persist

The commercial success has not yet translated to profitability. Bristol City posted cumulative losses of €161.7 million over the nine-year period - the second-highest among benchmarked clubs, with only Queens Park Rangers recording larger deficits at €168 million.

However, context matters for potential buyers. All comparable Championship clubs operated at significant deficits during this period, and Bristol City's commercial trajectory suggests untapped revenue potential. The club finished in the playoff positions last season, indicating that recent investment is beginning to yield on-pitch results.

For Lansdown, the negotiating position rests on growth potential rather than current profitability - a familiar dynamic in Championship club sales where buyers target commercial upside and promotion prospects over immediate returns.

Villarreal have blasted LaLiga for its “poor management”, after cancelling plans to hold the club’s December fixture against Barcelona in Miami.

On Tuesday, Spain’s top flight announced that the game would not be staged in the US, following significant backlash from players and fans, with Real Madrid also submitting a formal complaint to the Spanish Football Federation (RFEF). The match will now be held at Villarreal’s Estadio de la Ceramica home on 20th December.

In a statement expressing their “displeasure” with LaLiga, Villarreal said: “Given the lack of progress in the development and organisation by LaLiga, Villarreal CF has repeatedly expressed its deep concern to the organisation and urged it to define such basic and fundamental aspects as confirming the match time and hiring a travel agency for such a large-scale trip, which are vital to begin organising the event.

"In fact, a meeting was scheduled for this Thursday, in which if these issues were not resolved immediately, the club would withdraw from the project."

Villarreal added that the announcement of LaLiga’s decision to cancel the match, just before their Champions League matchup against Manchester City, showed a “complete and utter lack of respect” for the Spanish club.

A “missed opportunity”

After plans for the Miami game were shelved, LaLiga president Javier Tebas described it as a “missed opportunity” for Spanish football. In a post on X, Tebas said: “Today, Spanish football has lost an opportunity to move forward, project itself to the world, and strengthen its future."

He continued: “The true traditions of European football are threatened by decisions from the institutions that govern it, which year after year destroy national leagues, the true engine of the football industry in Europe.

“LaLiga will continue working, with rigour and conviction, to ensure that Spanish football remains competitive, standing up to those who seek to destroy it.”
 

Aston Villa reveal new minority investor in club’s women’s team

Aston Villa have revealed Marc Zahr as a new investor in the club’s women’s team, with the American also set to join its board of directors. Zahr is co-president of Blue Owl Capital Inc, an alternative asset management company that oversees $250 million in assets.

Although further terms of the investment were not disclosed, a Companies House filing on Wednesday revealed that Aston Villa’s Women’s Football Club Limited had issued 111 shares, amounting to ten per cent of their total, with a valuation of £5.5 million.

In August, UK media reports said Villa had been in talks with US investors over the potential sale of a ten per cent stake in their women’s team, which was sold to the club’s ownership, V Sports, in June.

Investment in English women’s football

A growing number of English clubs have sold minority stakes in their women’s teams this year, including Chelsea, who secured an investment from Reddit co-founder Alexis Ohanian in June that valued the WSL champions at £200 million.

West Ham United have also been linked with potential investment in their women’s team, with The Guardian reporting in August that the club were in advanced talks with US private equity fund Monarch Collective.
 

Juventus’ board rejects Tether’s proposals ahead of shareholders’ meeting

Juventus’ board of directors has rejected a series of proposals put forward by minority shareholder Tether ahead of the club’s shareholders’ meeting on 7th November, according to Calcio e Finanza.

Tether, which acquired a 10.7 per cent stake in the Italian club earlier this year, had proposed a capital increase with pre-emptive rights, allowing all existing shareholders to subscribe to the new shares.

The cryptocurrency firm also proposed expanding the board by adding directors representing minority shareholders, thereby ensuring their greater presence, including on internal board committees.

Opposition to the proposals

However, Juventus’ board believes Tether’s proposal to introduce pre-emptive rights does not align with the club’s strategic objectives and would be less effective.

The board further warned that the suggested changes could lead to an overrepresentation of minority shareholders on both the board and its committees. It has therefore recommended that shareholders vote against Tether’s proposals at next month’s meeting.
 

Chelsea front-of-shirt partnership in closing stages, as club announce sleeve deal

Chelsea are in the closing stages of securing a new front-of-shirt sponsorship deal, The Athletic has reported.

The Premier League club’s search for a principal sponsor is ‘nearing a conclusion’, following talks with multiple prospective partners, with a final decision expected soon.

This season marks the third successive year in which Chelsea started the campaign without a front-of-shirt sponsor. The club’s most recent agreement with Damac was signed in April, and only covered the last seven games of the 2024/25 season.

New sleeve sponsor

Chelsea have meanwhile announced a new sleeve partnership with Vietnamese technology company FPT, which will run until the end of the 2025/26 season. Under the agreement, the company’s logo will feature on the sleeves of the men’s, women’s and academy team’s kits.

FPT has upgraded its partnership with Chelsea, after initially becoming a global partner of the club in April.

Real Madrid have submitted a formal complaint against LaLiga and the Spanish Football Federation (RFEF) for the decision to stage December’s Villarreal vs Barcelona match in Miami, according to Marca.

Madrid have penned a letter to Spain’s Higher Sports Council (CSD), which has subsequently requested more information from the RFEF regarding LaLiga’s reasoning to bring the domestic league fixture to the US.

In response, the RFEF has asked for access to the club’s complaint in order to provide an adequate response.

Ongoing backlash

In Madrid’s letter, the club reportedly described plans for the Miami game as a “corruption of the competition”, amid ongoing backlash regarding the staging of the game outside of Spain.

Last weekend, players across the Spanish top flight took part in a protest organised by the Association of Spanish Footballers (AFE), whereby they stood still for the opening 15 seconds of their matches in protest against the decision.

Premier League clubs concerned over spending cap being adopted by the Championship

There is a growing concern among Premier League clubs that proposals for top-to-bottom anchoring (TBA) rules could be adopted in the Championship, ESPN has reported.

This comes ahead of a vote on 21st November, in which English top flight teams will determine whether or not to replace the league’s existing profit and sustainability rules (PSR) with TBA regulations, or squad-cost ratio (SCR) rules. The TBA would limit clubs' spending to five times that of the lowest-placed club’s broadcast revenue and prize money.

According to ESPN, Manchester United, Manchester City, and Aston Villa voted against a proposal for TBA rules last April, with the Professional Footballers’ Association (PFA) also opposing the idea.

Scepticism regarding TBA rules

If TBA regulations were to be implemented by the Championship, this would effect clubs relegated from the Premier League, with teams concerned that they would consequently find themselves “at the other end of the scale”.

Clubs are additionally worried that TBA rules pose a threat of litigation, with the PFA set to take action if they were adopted by the Premier League.

Despite concern over potential new financial regulations, there is a belief that plans to introduce anchoring rules could be abandoned before next month’s meeting, or fail to gain the necessary support among clubs to come to fruition.

Mexico, Costa Rica, and Jamaica join USA’s 2031 Women’s World Cup bid

Mexico, Costa Rica, and Jamaica have joined the USA’s bid to host the FIFA Women’s World Cup in 2031, the United States Soccer Federation (USSF) announced.

The joint bid comes as part of a ‘broader collaboration’ with Concacaf, the football governing body across North and Central America, as well as the Caribbean.

When FIFA president Gianni Infantino confirmed the US bid for the tournament in April, he said that this would include “potentially some other Concacaf members”.

Brazil is set to host the next Women’s World Cup in 2027, with the hosts of the 2031 and 2031 editions of the competition set to be announced at the FIFA Congress, which will be held in Vancouver next April.

Joint bid to “grow the women’s game at every level”

“This bid is a reflection of our shared belief that soccer can be a force for good,” said JT Batson, CEO of US Soccer.

“By bringing the Women’s World Cup to North America, Central America, and the Caribbean, we’re not only creating an unforgettable moment for athletes and fans, we’re building a lasting foundation to grow the women’s game at every level, in every country.”

FC Barcelona’s retail and e-commerce subsidiary, Barça Licensing and Merchandising (BLM), has been given a valuation of around €800 million, according to the treasurer of the club’s board of directors, Ferran Olivé.

Speaking at Barcelona’s board meeting, Olivé said: “We commissioned a valuation from one of the Big Four companies , which told us it's currently worth €800 million.”

During said meeting, the club approved the closing of the 2024/25 season, which resulted in a loss of €17 million. The valuation is based on between six and twelve times the value of BLM’s EBITDA.

Not considering selling stake

According to Olivé, the division has generated revenue of around €200 million, as well as an operating profit of around €50 million. Despite this, Olivé says Barcelona has no intention of selling the club’s 49 per cent share in the company.

“We have not considered selling 49% of BLM, and we don't understand why some people continue to insist on this,” he said. “It deeply bothers me when someone misinterprets the numbers. Someone has tried to use this for clearly electoral purposes.”

Liverpool nearing record ‘£70m a year’ sponsorship deal

Liverpool could be set to sign a record extension of their front-of-shirt sponsorship deal with Standard Chartered, according to media reports.

The figure would eclipse the Premier League’s most lucrative shirt sponsorship deal in Manchester United’s £60 million a year agreement with Snapdragon.

“If it is £70million it is a really good deal if you look at the wider European market and Liverpool’s certainly competed with the biggest and best clubs in that market,” football finance expert Dan Plumley said.

A longstanding partnership

British bank Standard Chartered’s principal partnership with Liverpool dates back to 2010, with the most recent deal set to run until 2027. The current contract is reportedly worth £50 million per year, and was signed in 2022.

Liverpool owner Fenway Sports Group (FSG) are looking to maximise the value from their next deal, and are reportedly also exploring options with potential new partners.

LaLiga told broadcasters not to air player protests against Miami game

Players across LaLiga matches last weekend staged a protest against the league’s US match in December, however broadcasters were asked by Spain’s top flight to not air the protests, according to a report from The Athletic.

Throughout the fixture round, players stood still for the opening 15 seconds of their games, in opposition to LaLiga’s decision to stage the December 20th matchup between Villarreal and Barcelona in Miami.

On Friday 17th October, the Spanish Footballers’ Association (AFE) announced plans for a “symbolic protest against La Liga’s lack of transparency, dialogue and consistency”. Although the AFE had stated that Barcelona and Villarreal players would not be involved in the demonstrations, both clubs’ players also stood still in solidarity with players across the league.

Despite this, multiple broadcasters opted to not show players at kickoff, showing the exterior of stadiums in some instances, and zooming in on the centre circle of the pitches in others.

Could have “unwanted consequences”

In a letter shared by The Athletic, LaLiga president Javier Tebas wrote last Thursday that any protests could result in “unwanted consequences” for players that would take part.

He added that the protests did not “meet the constitutional and regulatory requirements regarding the calling of a meeting, advance notice, and guarantees inherent to the right to strike.”
 

Data Spotlight: Declining wages leave Anderlecht trailing rivals as new leadership takes charge

RSC Anderlecht announced on Thursday that Michael Verschueren will assume the role of Chairman of the Board, while Kenneth Bornauw will take over as CEO. Data from Off The Pitch reveals the challenge facing the new leadership: wage cuts have stabilised finances, but left Anderlecht's competitive position weakened relative to Belgian rivals.

The incoming duo inherit the consequences of a difficult period under outgoing chairman Wouter Vandenhaute. Anderlecht finished no higher than third in the league during his tenure, costing them Champions League qualification and the substantial UEFA income that comes with it.

When Vandenhaute took charge, Anderlecht led Belgian football in wage spending. Standard Liège, in second place, operated with a wage bill 33 per cent smaller, while Genk and Club Brugge trailed by 40 and 43 per cent respectively. Over the following seasons, Anderlecht reduced wage expenditure by 16 per cent while rivals expanded aggressively. Royal Antwerp increased wages by 169 per cent and Club Brugge by 94 per cent.

European income collapse

The wage reduction could be seen as a response to financial pressure driven primarily by lost European revenue. Anderlecht generated just €8.2 million in UEFA income over the five-year period - the lowest among their peer group. Club Brugge, by contrast, earned €149.5 million from European competition. Transfer income provided some relief, with Anderlecht generating nearly €180 million in player sales - respectable, though still behind Club Brugge and Genk.

The wage cuts and player transfers achieved their immediate objective: financial stabilisation. However, the trade-off is clear in the data. As Anderlecht reduced spending, rivals invested in stronger squads, widening the competitive gap that initially triggered the European income decline.

For Verschueren and Bornauw, the challenge is breaking this cycle - restoring European qualification to rebuild revenue while maintaining the financial discipline that brought stability. Without Champions League football, closing the wage gap with Club Brugge will remain difficult.

Josh Wander, the co-founder of US investment firm 777 Partners, has been charged with fraud relating to his company's investments in football clubs and other businesses.

According to prosecutors in New York, the 44-year-old allegedly defrauded lenders and investors of more than $500 million, whilst lying and falsifying documents to inflate the Miami-based company's finances.

From 2018, Wander allegedly began investing into football clubs including Genoa, Sevilla, and mounting a failed bid for Everton, despite knowing that 777 either lacked funding or had pledged it to other lenders. Prosecutors say he invested in "new sectors with less certain cash-flow profiles" whilst attempting to conceal the firm's true financial position.

US attorney Jay Clayton said: "Wander used his investment firm, 777 Partners, to cheat private lenders and investors out of hundreds of millions of dollars by pledging assets that his firm did not own, falsifying bank statements, and making other material misrepresentations about 777's financial condition."

The collapse of 777

Wander faces charges including conspiracy to commit wire fraud, wire fraud, and securities fraud. His lawyer, Jordan Estes, told Bloomberg: "This is a business dispute dressed up as a criminal case. We look forward to setting the record straight."

777 previously had an agreement in place to take over Everton, however this fell through in June 2024, prior to the Premier League club's eventual takeover by the Friedkin Group. The company's football ownership roster at one stage included Genoa, Hertha Berlin, Standard Liège, Vasco da Gama, and a stake in Spanish side Sevilla.

 

Bristol City CEO confirms takeover talks with Turki Alalshikh

Saudi Arabian government official Turki Alalshikh has held talks over a potential investment in Bristol City, the club’s CEO Tom Rawcliffe confirmed.

During a fans’ forum last week, Rawcliffe said: “Yes, we had conversations with [Turki Alalshikh] and we are up for investment but it has to be the right investment.” Rawcliffe also revealed that the Championship club had received interest from prospective investors in the US and Middle East.

Reports in September had claimed that Alalshikh was nearing an agreement to take over Bristol, which he subsequently denied in a post on X that read: ‘It is not true that I will buy Bristol City FC.’ Alalshikh is a prevalent figure in Saudi sports, having organised high-profile boxing fights for Riyadh Season. He also previously owned Spanish club UD Almeria, before selling the team earlier this year to Saudi-led consortium SMC Group.

Club’s ownership seeking investment

Bristol have been majority owned by UK businessman Steve Lansdown since 1996. However in 2021, he revealed that the English club was seeking additional investment, which could include a full takeover.

“It's no secret that we're looking for investment whether that is a minority or majority,” said Ratcliffe. “It's going to happen at some stage but the Lansdown family are not going to be here forever and we've got to prepare ourselves. At the moment there's nothing imminent, but we are well backed.”

 

Former Palace co-owner Textor suffers setback in $97m legal dispute

The UK Commercial Court has ruled that former Crystal Palace co-owner John Textor has a case to answer over claims he owes $97 million to investors in Eagle Football Holdings, in a preliminary hearing.

Iconic Sports Management initiated legal proceedings in July, alleging Textor had not honoured an agreement to buy back a 15.7 per cent stake in Eagle Football, which Iconic acquired in 2022 for $75 million. The dispute centres on whether Textor was obligated to repurchase the stake, plus 11 per cent in annual interest, after Eagle was not floated on the stock exchange.

Textor contested the claims in a Florida court, alleging "securities fraud", but that motion was dismissed this week with the court ruling the case should be heard in the UK.

In his defence, Textor claimed Iconic failed to provide necessary paperwork to finalise the deal and that the buyback obligation was never triggered. Judge Pelling KC ruled in favour of Iconic on the preliminary issue.

A spokesperson from Iconic told The Guardian: "Today's decision from the UK Commercial Court confirms unequivocally that John Textor knowingly violated contractual commitments and owes Iconic Sports approximately $97 million excluding legal costs."

Textor confirms intention to appeal

Textor said in a statement: "While this is a preliminary hearing that we requested at the earliest stage of this litigation, I am disappointed with the Court's decision not to end this lawsuit at the outset. I intend to appeal the Court's judgment and will now be preparing a full defence to the claim which I intend to defeat."

Eagle holds majority stakes in Lyon, Botafogo of Brazil and the rebranded Belgian club RWD Brussels (formerly RWD Molenbeek). Eagle was also the biggest shareholder at Palace until July, when Textor sold his 43 per cent stake to Woody Johnson.

 

FC Barcelona extend ‘€100 million a year’ Spotify deal until 2030

FC Barcelona have extended the club’s main partnership with Spotify, which will now run until 2030.

Under the renewal, the Swedish company’s logo will remain on the front of Barcelona’s men’s and women’s teams’ kits. Spotify will also retain naming rights to the club’s Camp Nou home until 2034. The partnership dates back to 2022, and additionally includes training kit inventory.

Although further terms of the latest agreement were not disclosed, the extension is expected to be worth more than €100 million annually, according to Spanish publication 2Playbook.

Camp Nou allowed to hold 27,000

Meanwhile, the Barcelona City Council has approved the first license for the club’s return to the Camp Nou. After Phase 1A received the green light, the venue can now reopen with a capacity of 27,000 fans. However, the Spanish club are waiting for Phase 1B to be approved before making their return to the Camp Nou, which would allow the stadium to hold up to 45,000 spectators.

The iconic ground, which has been home to Barcelona since 1957, has been undergoing a renovation since summer 2023, which will see its capacity increased to 105,000 as part of the Espai Barça project.

 

Seven of 10 South American federations 'oppose' proposal for 64-team world Cup

Proposals for the 2030 FIFA World Cup to expand to 64 teams are opposed by the majority of South American football federations, The Guardian has reported.

According to the newspaper, seven of the 10 member federations that make up South American football’s governing body CONMEBOL do not support the plans, which are being led by the federations of Uruguay, Paraguay, and Argentina.

Representatives from all three organisations reportedly meeting FIFA president Gianni Infantino in New York last month, after the Paraguay Football Association (APF) first put forward the proposal informally at a FIFA Council meeting in March. According to The Guardian, this was attended by CONMEBOL president Alejandro Dominguez, as well as the the heads of state of both Uruguay and Paraguay, and the presidents of all three federations.

Concerns over the impact

Despite the support from the aforementioned three associations, the remaining seven Conbemol members do not share their sentiment.

This is reportedly due to concerns over the impact of a 64-team World Cup on qualifying matches. Under the proposed expanded format, eight or nine South American teams would qualify for the tournament, raising questions over the need for qualifiers, which serve as the main revenue stream for the majority of CONMEBOL members.

 

WSL considers borrowing worth ‘tens of millions of pounds’

The Women's Super League (WSL) is considering borrowing loans worth ‘tens of millions of pounds’ in order to help drive the growth of the English women’s top flight, according to The Guardian.

The league has reportedly handed Goldman Sachs and Deloitte the brief of exploring ways to raise funding, with a loan currently the ‘preferred option’ according to the British publication. The funding would be intended to increase central payments and clubs’ prize money, which ultimately would lead to growth of the league’s sponsorship and broadcast revenue.

As reported by The Guardian, the WSL is aiming to lead investment in women’s football, as opposed to leaving it to clubs themselves.

WSL Football turns to outside funding

This comes as part of a plan to cash in on the national growth of English women’s football, following England’s second successive UEFA Women’s Euro win last summer.

Under its former name (WPLL), WSL Football received a £20 million interest-free loan from the Premier League in 2024, after the organisation took over from the FA to govern the top two tiers of English women’s football. Now, the organisation is reportedly seeking new ways of accelerating the league’s growth via outside funding.

UEFA has opened an investigation into potential breaches of its Financial Fair Play regulations by Juventus, the Italian club confirmed.

The potential breaches took place during the three-year period between the 2022/23 and 2024/25 seasons.

In a statement, Juventus said: ‘The Group received from UEFA notification of the opening of proceedings for the potential exceeding of the same for the three-year period 2022/2023-2024/2025.’

Potential sanctions

The club also revealed that the outcome of the investigation is expected to be revealed in Spring 2026.

If European football’s governing body finds Juventus of FFP breaches, the club says they could receive a ‘financial penalty of a presumably insignificant amount’, or possible sporting sanctions, which could include restrictions on new player registrations.

Real Madrid considering significant changes to ownership structure

Real Madrid are considering making significant changes to the club’s ownership structure, The Athletic has reported.

Since the club was first established in 1902, Madrid have been owned by members, known as ‘socios’. However, Real Madrid president, Florentino Perez, reportedly believes that this is hindering their ability to compete in the transfer market, and competing with clubs backed by billionaire owners or sovereign funds.

The 78-year-old is therefore exploring potential changes to the club’s structure, and is set to present further details on his plans at the club’s assembly for 2025, which is slated to take place in November.

Perez’s proposals for ownership change

Under one proposal, which has already been discussed internally, the club would be separated into two separate entities in terms of football and business operations. Through this, members would still retain ownership of the football team, while investors would be able to acquire stakes in the business unit.

Another proposal would see the club adopt a 50+1 model, which would assimilate the ownership structure of Bundesliga clubs.

Madrid are one of four LaLiga clubs that are owned by members, alongside Barcelona, Athletic Bilbao, and Osasuna.

Scanavino to step down as Juventus CEO

Maurizio Scanavino will step down from his role as Juventus CEO, the Italian club have announced.

The 52-year-old has served as the Serie A club’s CEO since January 2023, following the resignation of his predecessor, Andrea Agnelli, alongside the entire board of directors in November 2022.

“With the support of the owners, the administrators, and talented colleagues, we have faced and overcome numerous challenges with determination, despite the difficulties,” Scanavino said.

“I look to the future of Juventus with great confidence: I am certain that there will be other important pages to write.”

new board of directors

Meanwhile, the Turin-based club have revealed two lists of candidates, which have been submitted for the appointment of their new board of directors.

Exor, the holding company of the Agnelli family and majority shareholder of Juventus, announced the first list of candidates. This includes Antonio Belloni, Gianluca Ferrero, Guido de Boer, Damien Comolli, Laura Cappiello, Fioranna Vittoria Negri, Kerstin Andrea Lutz, Diva Moriani and Diego Pistone.

The club’s second largest shareholder, Tether Investments, released its own list, which includes Francesco Garino and Zachary Lyons.

Sheffield Wednesday could receive winding-up petition

Championship club Sheffield Wednesday could soon be served a winding-up petition from the UK’s HMRC.

As reported by Daily Mail Sport, Wednesday’s tax bill due to the HMRC remains outstanding, amid the club’s ongoing financial issues.

A winding-up petition would add to the mounting pressure on owner Dejphon Chansiri to sell the club, which currently owes £1 million.

The club have failed to pay player wages on time for five of the past six months, and have been hit with five embargoes by the EFL, of which own is related to the unpaid tax bill.

Calls for a change in ownership

Since the start of the season, fans have staged protests at numerous matches, and boycotted EFL Cup fixtures against Leeds United and Grimsby Town.

Last month, the UK’s Secretary of State for Culture, Media and Sport, Lisa Nandy, said the Government was “extremely concerned” over the club’s ownership, due to Chansiri’s unwillingness to sell the team.

Five Premier League clubs sign hidden deals with Asian-facing betting operators

Five Premier League clubs have signed hidden deals with Asian-facing betting operators that are unlicensed in the UK, according to The Guardian.

The report says that Chelsea, Nottingham Forest, Aston Villa, Leeds United and Sunderland each have hidden partnerships with betting brands that operate in illegal markets across China and South East Asia.

Chelsea, Forest, Leeds and Sunderland have each been promoting 8Xbet on LED boards in their home stadiums since the start of the 2025/26 season. Of the four teams, only Chelsea refers to the operator on their club website. Meanwhile, Villa have been displaying Nova88 branding at Villa Park, despite the company not being visible on their website.

GBCG ‘changes’ criteria

Although the Premier League’s ban on betting sponsorships is set to take effect from the 2026/27 campaign, this will only apply to front-of-shirt partnerships, with gambling companies still able to sign sleeve deals and receive in-stadium promotion. This is due to the Great Britain Gambling Commission (GBGC) changing its criteria for clubs partnering with unlicensed operators.

Consequently, clubs within England’s top flight will only be required to partner with firms that are not taking bets from UK customers, or accepting payments in British pound sterling (GBP).

Villarreal vs Barcelona match in Miami is “good for football”, says RFEF president

Rafael Louzan, president of the Royal Spanish Football Federation (RFEF) has said the staging of the Villarreal vs Barcelona LaLiga match in Miami is “good for football”.

Speaking at this week’s World Football Summit in Madrid, the 57-year-old said: “It's a reward for those fans who are behind the screen, also in Asia or America, who are paying a fee to watch all the Spanish La Liga matches.”

He added: “It's good for football and it promotes the Spanish La Liga around the world. Italy is also going to do it with Serie A in Australia. It's a good move for the best league in the world to do it.”

Plans for the fixture to be played in the US were recently confirmed by LaLiga, after receiving approval from the RFEF in August. Earlier this month, UEFA “reluctantly” approved the proposal for the Miami LaLiga game, as well as Serie A’s plans to stage the AC Milan vs Como matchup in Perth.

The Villarreal vs Barcelona game, which will take place on 20th December at Miami’s Hard Rock Stadium, will be the first Spanish top flight match to be held overseas.

Opposition to international league matches

FIFA is exploring ways to ban future matches from being played in overseas territories, and has sought legal advice on how to prevent this going forward.

Earlier this month, UEFA president Aleksander Ceferin said the decision to allow both games to head abroad was “regrettable”.

“League matches should be played on home soil,” he said. “Anything else would disenfranchise loyal match-going fans and potentially introduce distortive elements in competitions.”

French players’ union joins ‘Justice for Players’ class action against FIFA

France’s National Union of Professional Footballers (UNFP) has joined the class action against FIFA led by Dutch foundation ‘Justice for Players’.

The organisation, which was set up this year, launched a class action in August against football’s global governing body, as well as the football associations of France, Germany, Belgium, Denmark, and the Netherlands.

This follows last year’s legal victory by former player Lassana Diarra against FIFA after a ruling by the European Court of Justice (CJEU) found its rules to have violated EU law. The former midfielder had previously received a €10.5 million fine from FIFA after leaving Lokomotiv Moscow one year into a four-year contract.

Diarra is currently seeking €65 million from FIFA and the Royal Belgian Football Association, after taking further legal action in August.

UNFP wants FIFA to “sit at the negotiating table”

David Terrier, president of the UNFP, said in a statement: “As a union representing more than 90% of professional players in France, it is our responsibility to join this class action.

“Our main objective is to offer FIFA a new opportunity to sit down at the negotiating table with player representatives, in order to jointly design new regulations that respect European law and strike a fair balance between the interests of employees and employers.”

The Premier League has issued clubs with a 25-page draft of proposed replacements for its profit and sustainability rules (PSR), ahead of a vote next month, according to The Times.

At a shareholders’ meeting on 21st November, clubs are set to decide whether to abandon PSR in favour of squad-cost ratio rules (SCR), or potential ‘anchoring’ rules that would limit spending to within five times the prize money and broadcast revenue of the 20th placed team.

The Premier League has revealed potential sanctions for breaches of the regulations, which would incur a minimum deduction of six points, with an additional point docked for every £6.5 million overspent.

In the upcoming meeting, clubs are set to vote on the SCR, which would limit spending to within 85 per cent of each team’s revenue, as well as anchoring and sustainability rules linked to the new independent football regulator (IFR), which is expected to come into action next month.

Concerns over new proposals

The English top flight’s draft on the proposed rules is likely to be updated ahead of November’s meeting, promoting concerns over clubs being immediately found to have breached the regulations.

In addition, the Professional Footballers’ Association (PFA) is weighing up legal action, amid fears over the potential impact of anchoring rules on player wages.
 

Fabio Paratici makes Tottenham return as co-sporting director alongside Johan Lange

Tottenham Hotspur have named Fabio Paratici and Johan Lange as the club’s new sporting directors, as part of a restructuring of their leadership team.

Paratici makes his return to North London, following a 30-month ban from all football activity, which was imposed by FIFA in March 2023. This was due to the alleged inflation of transfer fees during his tenure at Juventus.

The 53-year-old previously served as Spurs’ managing director from June 2021 to April 2023, when he stepped down from his role after losing his appeal against the suspension. The ban, which was then lightened slightly to allow the Italian to continue to work within football in a reduced capacity, expired this summer.

Lange meanwhile has been the club’s technical director since November 2023, after previous spells at Aston Villa and FC Copenhagen.

CEO hails new appointments

“This is an important evolution in how we operate. The remit of a Sporting Director today is vast, and by uniting two exceptional leaders in Johan and Fabio, we’re setting the foundations for sustained success,” said Vinai Venkatesham, CEO of Tottenham Hotspur.

Spurs will shortly begin their recruitment for a new director of football operations.
 

AC Milan ink €30 million a year partnership renewal with Emirates

AC Milan have signed an extension of the club’s principal partnership with Emirates.

The renewal is worth €30 million annually, and will run for three to five years, as reported by La Gazzetta dello Sport, meaning the deal could reach €150 million in total over its duration.

Emirates first partnered with the Serie A club in 2007, becoming their main partner in 2010, replacing Austrian sports betting company Bwin. Under the extension, which includes ‘official airline partner’ designation, Emirates’ branding will continue to feature on the front of Milan’s kits.

"Ambition and vision"

“The renewal of our partnership with Emirates stands as testimony to one of the most historic and admired collaborations in football, a shared journey that looks to the future with ambition and vision,” said Maikel Oettle, chief commercial officer at AC Milan.

“Emirates will continue to stand by our side, helping us strengthen the Club’s solid foundations and, together, connect new generations of fans around the world while creating unique experiences that go far beyond the pitch.”

AC Milan have reported record revenue of €495 million for the year ended 30th June 2025, according to Calcio e Finanza.

This marks a ten per cent increase on last year’s revenue of €457 million for the 2023/24 season, which was also a record at the time.

The Italian club meanwhile generated a net profit of €3 million for the 2024/25 campaign, which was the Rossoneri’s third consecutive year of profitability.

This follows the club’s €1.2 billion takeover in 2022 by RedBird Capital Partners, before which Milan had not posted a profit since 2005.

AC Milan’s record year

The increase in revenue is partially driven by the club’s participation in last year’s Champions League, as well as player sales, including Tijjani Reijnders and Pierre Kalulu to Manchester City and Juventus respectively.

Meanwhile, Milan have a positive net equity of €199 million.
 

Tony Bloom: Rise in Premier League clubs’ transfer spending has "element of unsustainability"

Brighton owner Tony Bloom has cited an "element of unsustainability” regarding the increase in transfer spending by Premier League clubs, in a wide-ranging interview with The Athletic.

The 55-year-old reflected on the rise of transfer spending across England's top flight, which eclipsed £3 billion during this summer’s transfer window.

“It’s getting to that point where the revenues of the league are going up at a certain rate and transfer fees and salaries are going up at a higher rate,” said Bloom.

“So there’s an element of unsustainability there, which is why the rules we’re going to be voting on soon are really important. Because it will only end in disaster if the losses sustained by clubs go up at an even faster rate.”

Bloom’s comments come ahead of the upcoming meeting in November, during which Premier League clubs will vote on proposals to scrap the league’s existing Profit and Sustainability Rules (PSR) in favour of new squad-cost ratio rules (SCR). The SCR regulations would enable teams to spend up to 85 per cent of their overall revenue, in a similar format to UEFA’s regulations.

Bloom dismisses claims on homegrown players

Also during the interview, Bloom rubbished the notion that the Premier League’s PSR forces teams to sell homegrown players in order to comply with the regulations.

“That’s really false,” he said. “You don’t have to sell homegrown players. You just need to organise your finances in a way that you are not at risk of going over the limit.

He continued: “That’s fallacious arguments, which I’ve heard quite a lot. It makes no sense whatsoever.”
 

Borussia Mönchengladbach appoint Rouven Schröder as head of sports

Borussia Mönchengladbach have appointed Rouven Schröder as their new head of sports, the club have confirmed.

The 49-year-old joins from RB Salzburg, where he served as managing director of sport. Schröder only joined Salzburg in December 2024, after previous spells at RB Leipzig and Schalke 04.

He replaces Roland Virkus, who stepped down from his role in September, after spending more than 30 years at Gladbach.

A demanding role

Stefan Stegemann, managing director and CEO at Borussia Mönchengladbach, said: “Rouven Schröder brings not only experience but also the skillset and communication qualities required for this demanding role.

“We are confident that, together with the sporting department, he will be able to tackle the immediate challenges and successfully shape the club’s sporting future.”