Manchester United have projected an adjusted EBITDA of between £180 million and £190 million for 2024/25, marking an increase on the club’s previous forecast of between £145 million and £160 million.

In the club’s financial statements for the three-month period ended 31st March, United made a net loss of £2.7 million, compared to £71.5 million for the same period in 2023/24.

The Premier League side also revealed an operating profit of £0.7 million for Q3, in contrast to last year’s operating loss of £66.2 million.

Club see revenue increase for Q3

For Q3, United’s reported total revenue of £160.5 million, up from £136.7 million last year. This was driven by increases in commercial, broadcast, and matchday revenue of 7.3 per cent, 10.1 per cent and 50.3 per cent respectively.

At the same time, total operating expenses for Q3 were £162.1 million, a decrease of £41.6 million, or 20.4 per cent, over the prior year quarter. The club's wage bill for the period were £71.2 million, a decrease of £20 million, or 21.9 per cent, over the prior year quarter.

'This is primarily due to the impact of transactions made during the January transfer window, the men’s first team participating in the UEFA Europa League rather than the UEFA Champions League in the prior year and reduced non-playing staff costs as a result of the club’s restructuring process,' according to the club's press release.

Brescia face expulsion from Italian professional football amid bankruptcy

Brescia Calcio are facing expulsion from Italian professional football, after being declared bankrupt.

The Lombardy-based club had been given until Friday 6th June to pay off outstanding debts totalling €3 million, but failed to do so ahead of the deadline.

Brescia have subsequently failed to register for Serie C for the 2025/26 season, due to their financial issues. The club have been owned by Massimo Cellino, the former chairman of Leeds United, since 2017.

In May, Brescia were relegated from Serie B, following an eight-point deduction imposed by the Italian Football Federation (FIGC).

SPAL also fail to obtain Serie C license

Meanwhile, Societa Polisportiva Ars et Labor (SPAL) have also been unable to acquire a license for the upcoming Serie C campaign.

In a statement, SPAL confirmed that the Ferrara-based club would be unable to compete in Italy's third tier next season.

‘Over the past four years, the ownership has made significant economic efforts, investing €50 million in real liquidity (12 million in the last season alone) in an attempt to relaunch SPAL, with the aim of giving the city of Ferrara a team worthy of its history and passion,’ the club said.

‘However, despite the total commitment and involvement of the members, the sporting results obtained have not met expectations nor have they been proportionate to the level of investments made.’

Bill Foley adds Portuguese club FC Moreirense to portfolio

Bill Foley hsa completed a takeover of Portuguese club FC Moreirense through Black Knight Football.

The US businessman will acquire a 62 per cent stake in Moreirense, and will invest €16 million for the construction of a new 10,000-seat stadium, as well as funding a renovation of the club’s training facilities.

Black Knight Football reportedly plans for the redeveloped training complex and new stadium to be complete by 2027 and 2030 respectively.

Bill Foley’s growing football club roster

In 2022, Black Knight Football led a full takeover of Premier League club AFC Bournemouth, in a reported £120 million takeover.

Black Knight Football’s growing ownership portfolio also includes French club Lorient, Scottish side Hibernian, and New Zealand’s Auckland FC. Outside of football, Foley also owns NHL franchise, the Vegas Golden Knights.

RWD Molenbeek to rebrand as Daring Brussels

Belgian club RWD Molenbeek will return to their former name, Daring Brussels, as part of a rebrand ahead of the 2025/26 season.

Daring Brussels will additionally retain its previous registration number of 2, acknowledging them as the second oldest club in Belgium.

This comes at the behest of the club’s owner, US businessman John Textor, who acquired a 90 per cent majority stake in Daring Brussels back in 2022. The club was originally founded as Daring Brussels in 1895, before merging with Royal Racing White in 1950. In 1973, their name changed to RWD Molenbeek.

Rebrand emblematic of ‘modern and ambitious club’

In a statement, Daring Brussels said: ‘The revival of this historic, simple, strong, short, unique and immediately identifiable name certainly finds its source in the tradition and history of Belgian football but is characterised above all by the ambition of 2025 to be a modern and ambitious club, identified with the capital of Europe.

‘This is a necessary choice to create the brand of a club that ultimately aims to be self-sufficient and sustainable.’

US private investment firm 777 Partners is set to sell off all shares in its football ownership portfolio, as first reported by Norwegian publication Josimar.

The auction is being forced by A-Cap, a lender to 777 Partners, which has now opted to seize the shares, and sell them at an auction, which will take place in New York today.

The Miami-based company will sell its remaining shares in a number of clubs, including Genoa, Sevilla, Standard de Liège, Red Star, Vasco da Gama, and Hertha Berlin.

The collapse of 777 Partners

777 Partners had built up a global roster of football teams in recent years, and had agreed to acquire a majority stake in English club Everton last summer. However this takeover fell through, after the investment company collapsed last October.

A-Cap reportedly had been trying to sell stakes in the teams individually, but had been unable to do so. This comes amid ongoing investigations into both A-Cap and 777 Partners by US authorities.
 

Sir Dave Brailsford set to scale back involvement in Manchester United

Sir Dave Brailsford is scaling back his involvement with Manchester United, according to multiple UK media reports.

The 61-year-old, who arrived at Old Trafford in December 2023 following Sir Jim Ratcliffe’s minority stake acquisition, will remain on the Premier League club’s board.

Going forward, Brailsford will continue in his role as director of sport at Ratcliffe-owned petroleum firm INEOS.

United ‘name new director of football’

During Brailsford’s tenure, he has played a key role in the £50 million redevelopment of the club’s Carrington training ground, which is set to be complete ahead of the 2025/26 season.

With Brailsford stepping back from his role, Jason Wilcox has been promoted to the position of director of football, having served as the club’s technical director since April 2024.
 

Wrexham ‘considering’ selling stake for valuation of $475 million

Wrexham AFC are considering selling a stake for a valuation of up to $475 million, according to Bloomberg.

Fresh off their promotion to the Championship at the end of the 2024/25 season, Wrexham are collaborating with investment bank advisers, as they seek potential further investment.

The club have held internal discussions over ways to raise capital, in order to help them compete in the Championship. Meanwhile, the fresh funding will also go towards the renovation of the Kop stand at Wrexham’s Stop Cae Ras home, which is set to expand to 5,500 seats.

The Rise of Wrexham

Since the arrival of Hollywood stars Ryan Reynolds and Rob McElhenney, who purchased the club for $2.7 million back in 2020, the club have seen significant success both on and off the pitch.

Following their recent promotion to England’s second tier, Wrexham became the first club ever to secure three successive promotions in English football.

Last year, the club reached a valuation of $136 million, after selling a minority stake to US investors the Allyn family.
 

Birmingham City given significant boost for new £3 billion stadium plans

Birmingham City have received a significant boost for the Championship club’s new stadium plans, after the UK Government revealed its £15 billion plan to fund transport projects across the country.

Included in this plan, the Government confirmed a £2.4 billion investment for transport services between Birmingham city centre, and the proposed new ‘sports quarter’ located in Bordesley Green.

Last year, Birmingham’s ownership unveiled plans to build a ‘world class’ new 62,000-seat stadium in East Birmingham, as part of a sports and leisure district which will cost between £2 billion and £3 billion. The venue would replace St Andrews, where the team have played since 1906.

The club are aiming for the sports quarter, which will also feature a 20,000-seat arena, a hotel, and training facilities for the club’s men’s, women’s and academy teams, to be complete by 2030.

New stadium to create 8,500 jobs

Following the news of the UK Government’s transport plans, Birmingham City chairman Tom Wagner said: “We needed the transport links to ensure the site was viable. This will be an entertainment venue unlike many others in the world.

“This will be a venue that is used 365 days a year, we'll create 8,500 jobs."
 

FIFA cuts ticket prices ahead of Club World Cup

Ticket prices for the upcoming FIFA Club World Cup have dropped significantly ahead of the tournament, which will take place between 14th June and 13th July.

The Times has revealed that tickets for the opening fixture between MLS club Inter Miami and Egyptian side Al Ahly have plummeted from $349 to $55.75, which is just 16 per cent of the original price.

Last month, The Athletic reported that FIFA was set to implement a dynamic ticket pricing system for the Club World Cup, which will see prices fluctuate based on demand.

FIFA expect “great attendances”

This summer’s tournament marks the first edition of the Club World Cup under its new expanded format, featuring 32 teams for the first time.

In a statement, FIFA said: “Overall, we anticipate great attendances throughout the competition for this first-ever edition — a tournament that we believe will grow edition-on-edition.”

The Premier League’s proposal to change its profit and sustainability rules (PSR) will not come to fruition, after receiving insufficient support from clubs, according to The Times.

As reported earlier this week, the English top flight’s proposal would see the removal of an existing rule, to prevent clubs from using sales of assets to sister companies to avoid PSR sanctions.

Earlier this year, Chelsea revealed a pre-tax profit of £128.4 million in the club’s accounts for the 2023/24 season. This was largely boosted by the sale of their women’s team to their ownership group, BlueCo last year.

The £200 million sale of Chelsea’s women’s team resulted in a profit of £198.7 million for the club, and allowed them to avoid any potential sanctions from the Premier League for PSR breaches.

Proposal ‘didn’t even reach a vote’

For this week’s Premier League annual meeting, the league had been planning for a club vote on the proposed changes to its PSR regulations, which reportedly came at the behest of some teams.

However, it quickly became apparent that this would not receive the green light from Premier League clubs, with a majority of 14 votes required to approve the changes.
 

FC Barcelona facing sanctions for breaches of UEFA’s financial rules

LaLiga champions FC Barcelona are facing sanctions for breaches of UEFA’s financial rules, according to multiple media outlets.

As reported by The Times, Barcelona’s punishment is set to be more stringent than the sanctions that will be placed on English clubs Chelsea and Aston Villa, who also violated UEFA’s regulations.

These sanctions could include a reduced limit on the number of players the Spanish club can register for the 2025/26 Champions League campaign, and could potentially be docked points.

This marks the second successive year in which FC Barcelona have been sanctioned by European football’s governing body, having received a fine of €500,000 in 2023. Last October, the club lost an appeal over this fine in the Court of Arbitration for Sport (CAS).

Chelsea and Aston Villa sanctions looming

According to The Times, the two Premier League sides have been negotiating settlements with UEFA’s Club Financial Control Board, which are set to be revealed later this month.

Barcelona’s sanctions are expected to be more severe, due to repeated breaches of UEFA’s rules.
 

Crystal Palace co-owner John Textor willing to sell stake to allow club to compete in Europa league

Crystal Palace co-owner John Textor is interested in selling his stake in the Premier League club, in order to allow them to compete in next season’s Europa League, according to UK media.

The American is willing to sell his share at a cut price to fellow Palace owners, which include Steve Parish, Josh Harris, and David Blitzer.

Textor is also the majority owner of Ligue 1 side Lyon, who have also qualified for the Europa League. Through Eagle Football Holdings, the 59-year-old holds a 45 per cent share in Palace, as well as a 90 per cent share in the French club.

UEFA’s multi-club ownership rules

Despite winning the FA Cup and subsequently qualifying for the Europa League, Palace are facing complications due to Textor’s involvement in both clubs.

As per UEFA’s rules, individuals are prohibited from being involved with more than one team in the same competition.

Recently, Nottingham Forest owner Evangelos Marinakis withdrew control of the club, in order to avoid a potential conflict of interest, as the Greek businessman is also the majority owner of Olympiacos.
 

Wolverhampton confirm departure of sporting director Matt Hobbs

Wolverhampton Wanderers sporting director Matt Hobbs has left his position, the Premier League club have confirmed.

In a statement on Wednesday, Wolves announced Hobbs’ departure as part of a ‘wider restructure’ at the Midlands club.

Hobbs leaves after a decade-long tenure at Molineux, during which he served in numerous roles, including chief scout, and head of recruitment.

Club ‘in talks’ with Domenico Teti

As reported by The Athletic, Wolves have already held positive discussions with Sampdoria technical director, Domenico Teti, whose appointment would be subject to a successful visa application.

Wolves say further details on the club’s leadership structure will be revealed in due course.
 

NFL icon Peyton Manning joins Denver NWSL club’s ownership group

NFL legend Peyton Manning has become an investor in the NWSL’s Denver expansion team.

The club, which is currently unnamed, is set to join the elite US women’s football league in 2026.

The former Denver Broncos quarterback is the latest in his family to invest in an NWSL club, after his brother Eli Manning invested in NJ/NY Gotham back in 2022.

Manning brings ‘legacy as a champion’

In a statement shared by the club, controlling owner Rob Cohen said: “Peyton's legacy as a champion and a leader is second to none.

“His impact on Colorado sports is unmatched, and we're incredibly proud to have him as a partner. He brings passion, insight, and deep local roots - all of which will help us shape the future of Denver NWSL.”
 

Hertha Berlin obtain DFL license for 2025/26 season

Hertha Berlin have received their license for the 2025/26 season, the 2. Bundesliga club have announced. The club were the last of the 36 teams across Germany’s top two leagues to receive their license for the next campaign.

Hertha confirmed that the club now has two options regarding repayment of a €40 million Nordic bond - extending it for a further three years, which would see changes to the interest rate, or alternatively repaying it on time on 8th November 2025.

Hertha have revealed that the club’s preferred option is to pay the loan back on the original date, as opposed to the extension.

Club are “on a good path”

Ralf Huschen, managing director at Hertha Berlin, said: “We were in regular contact with the DFL, so everything could proceed as planned.

“We have already put many things on the right track and are on a good path, which we must continue.”

The UK Government is prepared to take former Chelsea owner Roman Abramovich to court over the £2.5 billion from the club’s sale, which remains in a frozen account, The Guardian reports.

In 2022, the Russian oligarch agreed to sell the club to BlueCo, the consortium led by Todd Boehly and Clearlake Capital, after being sanctioned by the UK Government following Russia’s invasion of Ukraine.

As per the takeover agreement, the proceeds from that deal were promised to go towards humanitarian support in Ukraine, however these are currently placed in a UK bank account controlled by Fordstam, a company owned by Abramovich.

Government to pursue legal action if necessary

UK chancellor of the exchequer Rachel Reeves and foreign secretary David Lammy said in a joint statement: ‘The government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion. 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 fully prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.’

Atalanta score record revenue of €270.1 million for first half of 2024/25

Serie A club Atlanta have delivered record revenue of €270.1 million for the first six months of the 2024/25 season, according to a report from Calcio e Finanza.

By comparison, Atalanta previously generated revenue of €167.4 million for the first six months of 2023/24.

The club have also generated a profit of €56.5 million for the first nine months of the campaign, up from €4.9 million for the same period during the 2023/24 season.

Revenue driven by capital gains

Atalanta’s turnover for 2024/25 will be bolstered by capital gains of €85.9 million. This includes €44.5 million from the transfer of Teun Koopmeiners to Juventus, as well as €13.1 million from the sale of Caleb Okoli to Leicester City, €10.3 million from Aleksei Miranchuk’s move to Atlanta United, and €10 million from Nicolo Cambiaghi’s transfer to Bologna.

Atalanta are additionally aiming to generate revenue of €67 million from the Champions League.

Oliver Kahn pulls out of ‘€50 million’ Bordeaux takeover

German football legend Oliver Kahn has withdrawn his interest in taking over French club Girondins de Bordeaux. Last week, the 55-year-old tabled a bid to purchase Bordeaux, rivalling that of Gerard Lopez, who has owned the club since 2021.

However, in a letter shared by French publication Sud Ouest, Kahn has now announced that he has withdrawn his offer, citing ‘financial, operational, and legal information’ that he and his partners had discovered, and is no longer willing to commit to the proposed takeover, valued by French media at around €50 million.

‘In January 2025, I submitted a formal offer to the current owner, later accompanied by proof of funds, and then presented an offer to the court administrator,’ Kahn said.

The letter continued: ‘It is therefore with great disappointment, despite extensive preparatory work and rigorous analysis, that we have made the carefully considered decision not to pursue our takeover plan.’

Bordeaux’s financial crisis

Last July, Bordeaux filed for bankruptcy, and were relegated to France’s fourth tier, amid their ongoing financial issues.

Following Kahn’s withdrawal, Bordeaux now has just one continuation plan, fielded by Lopez, to ensure the club’s survival.

Chicago Fire announce $650 million stadium plan

The MLS club Chicago Fire have unveiled plans to construct a new $650 million stadium in Chicago's South Loop.

The team's owner, Joe Mansueto, announced that the stadium, which is set to open in spring 2028, will accommodate 22,000 fans and will be privately funded without the need for public money.

The stadium will be built on a 62-acre vacant plot that was previously a landfill and railyard. The site has been undeveloped for many years and was acquired by Related Midwest in 2016. Notably, the Chicago White Sox, the baseball team, had also considered this location for a new stadium and sought over $1 billion in public financing for their project.

"More than just a stadium"

Mansueto emphasised the significance of the project beyond just being a sports venue, stating, "This project is more than just a stadium. It’s a space for fans of all ages, backgrounds and neighborhoods to come together and celebrate the beautiful game – right in the heart of our city."

The Fire have had multiple homes since their inception in 1998, including Soldier Field and SeatGeek Stadium in Bridgeview. The move back to downtown Chicago is seen as an effort to rekindle fan interest and provide a permanent home for the club.

Sheffield Wednesday charged by EFL over unpaid player and staff salaries

Sheffield Wednesday have been charged with ‘multiple breaches’ of the EFL’s regulations, after failing to pay players and staff on time and in full for the months of March and May, EFL have announced in a statement.

The Championship club’s owner, Thai businessman Dejphon Chansiri, has also been charged by the EFL for causing these breaches, in spite of ‘his commitment to fund their cash requirements’.

Sheffield Wednesday and Chansiri subsequently now have 14 days to respond to these charges.

Club ‘seeking resolution'

In a statement shared by Wednesday on Tuesday afternoon, the club said: ‘Sheffield Wednesday acknowledge the statement issued by the EFL on Tuesday afternoon.

‘The club continue to seek a resolution regarding outstanding salaries due for the month of May at the earliest possible opportunity.

‘Mr Chansiri sincerely apologises to all players, coaches and staff affected and everyone connected with the club.’

Angel City ranked as most valuable NWSL team

Angel City have been listed as the National Women's Soccer League's (NWSL) most valuable team, with an estimated worth of $280 million according to Forbes’ first ever valuations for the elite US women’s league.

This marks a $30 million increase since last September, when the franchise was sold for a record $250 million to Disney CEO Bob Iger and Willow Bay.

Kansas City Current have been ranked as the NWSL's second most valuable team, with a valuation of $275 million, followed by Bay FC, who have been valued at $170 million.

Average team is worth $134 million

In terms of revenue, Forbes estimates that Angel City generated around $35 million in 2024, while the Kansas City Current delivered $36 million. This is significantly higher than the third highest club, San Diego Wave, who secured estimated revenue of $24 million, with eight teams bringing in $10 million or less.

Forbes has additionally revealed that the average NWSL club is now worth $134 million, while all teams have a valuation of at least $70 million.

LFP yet to receive €20 million payment from BeIN Sports

France’s Professional Football League (LFP) has still yet to receive a €20 million payment from BeIN Sports for sponsorship rights, as reported by L’Équipe.

In January, the Qatari broadcaster signed a deal with LFP for domestic rights to Ligue 1 fixtures, which is reportedly worth €98.5 million annually.

That figure comprises €78.5 million for broadcast rights to one weekly match, as well as €20 million for sponsorship agreements with Qatar-based companies.

Latest unpaid bill for LFP

Although the broadcast rights fee has been received, payment for the sponsorship rights remains outstanding.

Recently, LFP and DAZN confirmed the termination of their five-year media rights partnership, which was worth €400 million annually, after just one season. In February, the UK-based company withheld half (€35 million) of its monthly payment from LFP, alleging that the organisation had made a lack of effort to combat piracy, and that clubs had not offered ample help with editorial content.

The Premier League is set to ask clubs to vote on proposed changes to its profit and sustainability rules (PSR) that would prevent clubs from exploiting a loophole that enabled Chelsea to avoid sanctions last season, according to The Times.

Chelsea reported a pre-tax profit of £128.4 million for the 2023/24 season, which was largely driven by the £200 million sale of the club’s women’s team to their ownership group, BlueCo, in June 2024.

The London club made a £198.7 million profit from this transaction, allowing them to evade sanctions from breaching the Premier League’s PSR regulations. Chelsea also sold two hotels to BlueCo for £70.5 million.

In April, UK newspaper The Times reported that Chelsea were in talks with UEFA over a settlement, after breaching the governing body’s financial rules for 2023/24. Unlike the Premier League, UEFA does not allow teams to include revenue from sales of assets to sister companies in their financial statements.

Clubs ‘set for vote’ on amendment

Clubs are expected to be asked to vote on the proposals to alter the PSR regulations during this week’s Premier League annual meeting on 3rd and 4th June.

In order for this to be approved, the league will reportedly require a minimum of 14 clubs to vote in favour.

Spurs executive director set to leave the club

Tottenham Hotspur’s executive director, Donna-Maria Cullen, is stepping down from her role, the club have confirmed.

Cullen leaves after spending three decades at Spurs, where she was part of the club’s board since 2006.

The 62-year-old played a key role in the club’s move from White Hart Lane to Tottenham Hotspur Stadium, which materialised in 2019.

Cullen reflects on her tenure in North London

In the official release shared by the club, Cullen said: “It has been quite some journey, starting at White Hart Lane, with a brief stay at Wembley and finally our new home - amazing memories home and away.

“The time is now right for me to gather more time for myself and my family, whom I thank for all their support over the years. I wish everyone at the club all the success in the world.”

Sheffield Wednesday fail to pay player and staff salaries for second time in three months

English club Sheffield Wednesday have not yet paid their players and staff for the month of May, as reported by BBC Sportas reported by BBC Sport.

This marks the second time in three months in which the Championship club have failed to pay their players’ salaries on time, after encountering the same issue for March, which was eventually resolved on 7th April. Sheffield Wednesday’s players and staff were due to be paid on Friday 30th May.

The club said in a letter shared by local outlet, the Sheffield Star: ‘We understand that such delays create financial pressure and want to reassure our staff that the club is here to support you and ensure that no one suffers any financial hardship.’

Could face transfer embargo

The club have encountered ongoing financial issues in recent years, having received sanctions from the EFL in each of the past two seasons. Sheffield Wednesday were additionally docked six points during the 2020/21 campaign for breaches of its spending rules.

Wednesday are now facing further sanctions that would prevent the club from signing players during the summer transfer window.

Seattle Sounders protest against FIFA Club World Cup prize money structure

Seattle Sounders players have staged a protest against the FIFA Club World Cup, wearing T-shirts ahead of their MLS match against Minnesota United on 1st June that read: ‘Club World Cup Ca$h Grab’.

The MLS Players Association (MLSPA) later released a statement expressing its support of the Sounders players, which said: ‘The MLSPA and all MLS players stand united with the Seattle Sounders players who tonight demanded a fair share of the FIFA Club World Cup Prize Money.

‘FIFA’s new tournament piles on to players’ ever-increasing workload without regard to their physical well-being.

The statement continued: ‘Despite this windfall, the league has refused to allocate a fair percentage of those funds to the players themselves.’

MLSPA’s opposition to Club World Cup structure

Seattle Sounders will be one of three US teams to feature in this summer’s expanded Club World Cup, alongside Inter Miami and Los Angeles FC. As previously revealed by FIFA, each participating club will receive $9.5 million in prize money.

Teams can earn additional prize money from the tournament based on bonuses, however under MLS’ collective bargaining agreement, players will only receive half of these incentives from external competitions, which are capped at $1 million for the entire squad.

LFP initiates tender process for new Ligue 1 media network

France’s Professional Football League (LFP) has launched a tender process for its new in-house Ligue 1 channel, according to L’Équipe.

The new channel, which will be produced by LFP Media, is set for launch in August, before the 2025/26 season kicks off.

Last month, LFP agreed to terminate its previous broadcast rights partnership with DAZN, just one year after signing a five-year contract with the UK-based company, which was reportedly worth more than €400 million annually.

DAZN among potential partners

LFP has reportedly launched four tenders ahead of next season, with the organisation’s commercial division set to determine the extent of its in-house production, based on the interest it receives.

LFP would be open to collaborations with a number of broadcasters for the new channel, such as BeIN Sports, Canal+, Amazon Prime Video, Disney+ and even DAZN.

Rangers Football Club have officially been acquired by a new American ownership group, with plans to invest £20 million into the Scottish club.

The consortium, led by healthcare entrepreneur Andrew Cavenagh and supported by 49ers Enterprises, the investment arm of the NFL's San Francisco 49ers, secured a 51 percent stake after months of negotiations, culminating just before midnight on Thursday.

According to a club statement, Cavenagh will serve as the new chairman of Rangers, while Paraag Marathe of 49ers Enterprises will take on the role of vice-chairman. Marathe also holds the position of chairman at Leeds United, and this dual ownership has received approval from the Scottish FA.

£20 million through a share issue

The initial investment will be made through a share issue, with a significant portion of the £20 million expected to come from current shareholders who have committed to reinvest as part of the agreement to sell to the American group. An extraordinary general meeting is scheduled for June 23 to seek shareholder approval for a rights issue.

In an open letter to fans, Cavenagh and Marathe expressed their pride in starting a new chapter for Rangers and outlined their ambition to win trophies domestically, compete at a high level in Europe, and establish financial sustainability for the future.

Financial scandal sends Brescia down - saves Sampdoria

In a dramatic turn of events, Sampdoria have been given a chance to avoid relegation from Serie B after Brescia was penalized with a points deduction for financial irregularities.

Originally finishing 18th and facing demotion to the third tier of Italian football, Sampdoria now finds themselves in the relegation play-offs, where they will face Salernitana.

According to a report from Calcio Finanza, Brescia's four-point deduction has altered the final standings, allowing Sampdoria to leapfrog into 17th place and Frosinone to move out of the play-off zone entirely. This unexpected lifeline comes as Sampdoria looked set to experience their first-ever relegation from Italy's top two divisions.

Brecia are starting Serie C with a penalty

The investigation by Italian football watchdog Covisoc into Brescia's financial conduct caused significant upheaval, with the league being informed of the probe five days after the season ended. This led to the suspension of the play-off due to the uncertainty surrounding Brescia's league status.

Brescia will not only face a four-point deduction in the upcoming 2024/25 season but will also begin their 2025/26 campaign in Serie C with a similar penalty. The club's owner, Massimo Cellino, and his son Edoardo, who is also a board member, have received six-month bans as part of the sanctions.

Valencia CF appoints Ron Gourlay as new CEO of football

Valencia CF have announced the appointment of Ron Gourlay as their new CEO of football, with the aim of leading the club's sporting reconstruction and returning it to the pinnacle of European football.

Gourlay, a British executive with over two decades of experience in top-level club management, has held executive positions at Chelsea FC, West Bromwich Albion, and Al-Ahli FC.

Notably, during his tenure as CEO at Chelsea, he oversaw one of the club's most successful periods, which included winning a Premier League title, two FA Cups, a UEFA Europa League, and their first UEFA Champions League in 2012.

"A pivotal time"

Gourlay's arrival is part of a strategy led by President Kiat Lim to modernise Valencia's sports structure and strengthen club management. This move also marks a professional reunion with current head coach Carlos Corberán, whom Gourlay previously brought on board at West Bromwich Albion.

In the club statement, Gourlay expressed his privilege to join Valencia CF at such a pivotal time, sharing the ambition to restore the club's status among the elite.

Premier League director says FIFA is ignoring calendar concerns

According to the Premier League's director of international football relations, Mathieu Moreuil, FIFA is still not adequately addressing concerns from Europe's domestic leagues and the global players' union FIFPro regarding the crowded international match calendar.

Moreuil, who is also the vice-president of European Leagues, expressed that while FIFA has started engaging with them, they are "still far away" from an agreement, as reported by The Athletic.

The dispute centers on FIFA's expansion of the World Cup to 48 teams and the creation of a new 32-team Club World Cup, which critics argue is an abuse of market position and fails to consider the impact on player welfare and domestic competitions.

UEFA more collaborative than FIFA

Moreuil highlighted that European Leagues and FIFPro have resorted to legal action because FIFA was not listening to their concerns. He contrasted FIFA's approach with UEFA's, where discussions on such issues are more collaborative.

Maheta Molango, CEO of the Professional Footballers’ Association, also voiced concerns about player burnout due to fixture congestion. He emphasised the need for industry-wide solutions to prevent injuries and protect players' physical and mental health.

Molango mentioned that players are advocating for a mandatory two-week break in the off-season and a day off every week during the season.

German Football League announces closer collaboration with German Football Association

The German Football League (DFL), represented by Hans-Joachim Watzke, has announced plans for closer collaboration with the German Football Association (DFB), as reported by Kicker.

During a general assembly in Frankfurt, Watzke revealed that a regular meeting, known as a Jour fixe, will be established at the executive level between the DFL and DFB.

According to DFB's Director of Sports, Andreas Rettig, this initiative aims to strengthen the unity between amateur and professional football in Germany, which has been reestablished since Bernd Neuendorf became DFB President. Rettig emphasised the mutual benefits for both organizations from this reinforced partnership.

Frankfurt's sporting directer becomes spokeperson

Additionally, Watzke announced that Markus Krösche, Eintracht Frankfurt's Sporting Director, is set to become the official spokesperson for the Football Commission.

Although this position is not officially recognized yet, Krösche has already frequently presented the views of the twelve-member commission within the DFL's presidency.

Manchester City chairman Khaldoon Al Mubarak has pledged a rapid rebuild to deliver a refreshed squad before this summer’s Club World Cup.

City travel to the United States on 12 June, with a short transfer window opening this Sunday. Al Mubarak said the club aims to act "very clear, very swift" in the market.

He admitted City were not decisive enough last year's summer after the title win and paid the price this season. “I think… we probably should have been more aggressive,” he said in an interview published on City's website.

Squad size and overload

Four players arrived in January, and more activity is expected before pre-season begins. Al Mubarak confirmed that the hierarchy is working to meet Guardiola’s needs as early as possible.

“We will continue this summer with this, serving the needs of the club,” he said.

The goal is to have the full squad in place before the pre-tournament camp in Florida. Guardiola has given mixed signals recently about squad size, citing both overload and the need for trimming.

Tony Bloom exploring investment in French football amid Ligue 1 uncertainty

Brighton owner Tony Bloom is actively exploring a potential investment in a French club, City AM has reported.

Several teams in Ligue 1 are seeking new financial partners following the collapse of their domestic broadcast deal. The league will move to a club-run streaming service next season, increasing investor interest. Bloom’s approach is personal and not linked to Brighton & Hove Albion. His growing portfolio includes recent minority stakes in Hearts and Melbourne Victory.

The uncertain media landscape in France is reshaping how clubs attract funding. The failure of the deal with Dazn has left gaps many teams are now trying to fill. This has created openings for investors willing to back direct-to-consumer models. OGC Nice is already on the market, with Ineos instructing Lazard to find a buyer. Fenway Sports Group also held talks with Bordeaux and Toulouse but did not proceed.

Competition rules

French clubs are proving attractive, though negotiations remain complex. Bloom’s current club, Brighton, previously passed UEFA scrutiny regarding multi-club ownership.

His interests in Belgium and Scotland were deemed independent under competition rules. Any French investment would follow a similar structure, allowing for regulatory compliance.

Inter Milan boosts sponsorship revenue to €102 million

Inter have reported €102 million in contracted sponsorship revenue for the 2024/25 financial year.

The figure, released via Inter Media and Communication, the sole manager and operator of the media, broadcast and sponsorship business of Inter Milan, marks a €24 million increase year-on-year. It also represents a rise compared to the club’s last published update at the end of 2024.

The total includes new agreements with Betsson as Global Main Jersey Partner and Gate as Sleeve Partner. Nike renewed its technical sponsorship through 2031 with a 70 per cent increase in value. Other active contracts include U-Power, Konami, Qatar Airways, and BPER.

Inter Media and Communication noted that the €102 million figure only includes contracts already signed. The statement did not project potential further increases before the June 2025 fiscal year-end.

Evaluating options in bond market

Separately, Inter confirmed it is evaluating options to refinance a €400 million bond due in February 2027.

The club repurchased €15 million of the debt earlier this year and is exploring private placement routes. Other top clubs, including Roma and Barcelona, have used similar methods in recent years.

CEO: Man Utd to press ahead with ambitious squad rebuild

Manchester United chief executive Omar Berrada says the club remains committed to a summer rebuild under Ruben Amorim.

Speaking after a post-season tour match in Kuala Lumpur, he confirmed preparations had accounted for missing the Champions League. “We were ready for all the different scenarios,” Berrada told reporters on tour.

He said planning had been ongoing for months with Amorim, Jason Wilcox and the recruitment team.

“It’s now a question of executing that plan prudently but with ambition,” he added. Berrada acknowledged it had been a difficult first season in charge at Old Trafford. But he echoed Amorim’s recent message that better days are coming for the club. “There’s been a transformation on and off the pitch… we had to take some tough decisions,” he said.

Need to stay United

With new ownership backing the project, Manchester United’s leadership is focused on long-term progress. Berrada praised fans for their patience and reiterated belief in the club’s future direction.

“Ruben’s right,” he said. “Now we need to stay united. I’m very excited about what’s ahead.”

Damien Comolli is set to leave his role as president of Toulouse, with reports indicating that he is on the verge of joining Juventus.

According to l’Equipe, Comolli's move to Juventus is not only imminent but also significant, as he is expected to play a central role in the Italian club's new organizational structure. His responsibilities will include working closely with Giorgio Chiellini, suggesting a strategic partnership within the club's leadership.

Comolli's departure from Toulouse marks the end of a tenure that began with RedBird's investment in the club and now transitions to a new chapter with one of Europe's storied football institutions. His experience and leadership are anticipated to contribute greatly to Juventus' future endeavors.

Email to employees

Comolli, who has been with the French club since 2020 after their acquisition by RedBird Capital Partners, communicated his departure to Toulouse employees via an email.

In his message, Comolli expressed the difficulty of his decision, stating, "This is probably the most difficult letter I have ever had to write in my career. To communicate the decision that breaks my heart the most." He apologized for any times he may have been overly demanding, assuring that it was never with bad intentions.

Bundesliga clubs' agent fees hit record high

According to Kicker, Bundesliga clubs have seen an increase in the amount they pay to player agents, with the total reaching a record high of nearly €250 million for the 2023/24 season.

FC Bayern Munich topped the list, paying out over €51 million for advisory and intermediary services.

The rise in agent fees corresponds with growing transfer revenues, as the Bundesliga generated approximately 1.06 billion euros from player sales, an increase of around 450 million euros compared to the previous season. The league also spent about 840 million euros on new players, marking an increase of nearly 300 million euros from the year before.

Concerns about "unhealthy relationships"

While Bayern and Borussia Dortmund lead in terms of personnel expenses due to significant transactions like Harry Kane's move to Bayern and Jude Bellingham's transfer to Real Madrid, concerns remain about unhealthy relationships between clubs and agencies that disproportionately benefit agents.

Despite criticism from club officials about reliance on agents and intermediaries, many players, especially average professionals, rely on reputable agents for negotiations and career planning against legally sophisticated clubs.

Official: Samir Xaud elected as new president of Brazilian Football Confederation

Samir Xaud has been elected as the new president of the Brazilian Football Confederation (CBF), despite a significant boycott from major clubs over dissatisfaction with the electoral process.

He received backing from 25 state federations, excluding Sao Paulo and Mato Grosso, and ten clubs, while prominent teams like Flamengo and Corinthians abstained due to the state federations' decisive influence in CBF elections.

Xaud takes over from Ednaldo Rodrigues, who was removed from his role by a Rio de Janeiro court over an alleged forged signature. His team includes vice-presidents with notable figures such as Fernando José Macieira Sarney, son of former Brazilian president José Sarney.

"A new phase"

"Today we begin a new phase in the Brazilian Football Confederation," Xaud declared in his victory speech. "Our management will be marked by the renewal of ideas and the inclusion of all those willing to contribute effectively to the full development of our sport."

However, Xaud's presidency is not without controversy. He faces a lawsuit for alleged involvement in a document forgery scheme during his time as general director of the General Hospital of Roraima, which reportedly resulted in a loss of R$1.4 million to public funds.

Newcastle United sporting director Paul Mitchell has left his position at the end of the 2024/25 season, the club have announced.

Mitchell, who leaves his role after less than a year, first joined the club as Dan Ashworth’s replacement in July 2024.

The 43-year-old was recruited by Newcastle CEO Darren Eales, who is also set to leave St. James’ Park soon due to health reasons.

Newcastle are in a “fantastic position”

In a club statement Mitchell said: “I'm leaving at a time that is right for me and the club, particularly with Darren Eales - someone who I have worked so closely with in my career - moving on soon.

“The club is in great hands on and off the pitch, and is in a fantastic position to continue building. I'd like to wish everyone connected with Newcastle United a bright and successful future.”

FC Barcelona aiming to generate €335 million from VIP ticket sales at renovated Camp Nou

Barcelona are expecting to generate €335 million from from VIP ticket sales at the Spotify Camp Nou over the next few years, the club have revealed.

According to the club, more than 3,700 VIP seats have already been sold at the iconic stadium.

Four VIP seat categories of VIP seats have now sold out, including WIP suites, boxes, premium seats, and loge seats. These account for 1,740 seats in the stadium, which is set to expand its capacity to 105,000 as part of its redevelopment.

The Camp Nou has been undergoing a reported €1.5 billion renovation since June 2023, which is set to be complete in time for the 2025/26 season.

VIP ticket sales to help reach revenue target

Barcelona have also sold more than 1,000 VIP ring seats, which are priced from €5,500 per season, and are set to come available from January 2026.

In Total, the revamped Camp Nou will feature more than 9,400 VIP and hospitality suites, with the club targeting revenue of €120 million annually.

Espanyol plot €38 million capital increase

RCD Espanyol are planning a capital increase of €38 million through issuing 6.33 million shares in the Spanish club, which will each be worth €6, the club have announced.

The proposed capital increase will be subject to approval at Espanyol’s next Extraordinary General Meeting of Shareholders, which is slated for 27th June.

As reported by Palco23, Espanyol are also seeking a naming rights partner for the club’s RCDE Stadium home.

Espanyol’s drop in revenue

The Barcelona-based club reported a loss of €13.76 million for the 2023/34 season, marking a slight improvement on the previous year’s loss of €22 million. However, following Espanyol’s relegation to LaLiga 2, the club’s revenue was significantly impacted, falling from €76.84 million in 2022/23 to €23.73 million last season.

Espanyol’s latest financial statements revealed that their media rights revenue saw an 80 per cent decrease over the last year, dropping from €51.29 million to €10.55 million.

Eintracht Frankfurt implement €25 million capital increase

Bundesliga club Eintracht Frankfurt’s €25 million capital increase has now been implemented, according to German sports publication Kicker.

In February, Frankfurt’s members approved the proposed increase during a general meeting, which has reportedly taken effect as of Monday.

The report says that the newly founded ‘Gude Eintracht GmbH’, which is backed by Frankfurt supporters group ‘Business Eagles’, invested between €8 million and €9 million in new shares, while the club itself contributed between €17 million and €18 million via a loan.

Frankfurt aiming to bolster equity

Frankfurt will repay this loan through the increase in the club’s annual license fee, which was recently €3 million per year.

Through the capital increase, Frankfurt are aiming to raise their equity from €51.6 million at the end of the 2023/24 season to between €100 million and €120 million in the medium term. For 2023/24, the club reported financial debt of €68.2 million.

Oliver Kahn’s proposed Bordeaux takeover deemed ‘serious’ by commercial court

Bayern Munich and Germany legend Oliver Kahn’s proposed takeover of French club Girondins de Bordeaux has been deemed ‘serious’ by the Bordeaux Commercial Court, as reported by L'Équipe.

The 55-year-old launched a bid for the club earlier this week, which rivals that of Gerard Lopez, who has owned the club since 2021.

Kahn confirmed his interest in leading a takeover of Bordeaux earlier this year, and met with representatives of local authorities in the city in February.

Bordeaux currently compete in the fourth tier of French football, following two administrative relegation over the last three years, due to the club’s financial issues.

Court to review Kahn’s bid on 13th June

A court hearing had been scheduled for Tuesday 27th May, however this was postponed, with the court set to consider the bid from Kahn and his partners.

The hearing will now take place of 13th June, with the court’s Council Chamber set to evaluate the bid, before the Commercial Court delivers its decision on 20th June.

His Majesty's Revenue and Customs (HMRC) of the UK Government has confirmed that it is investigating 33 football clubs for exploiting its Research and Development (R&D) tax scheme.

Earlier this year, an investigation led by The Times found that teams had been claiming public money from the scheme over the last five years.

According to the UK publication, 33 clubs have claimed more than £17 million through the scheme, including Chelsea, Fulham, Nottingham Forest and Brentford.

Brentford and Dundee United also claimed credit through R&D scheme

Chelsea received more than £3 million through R&D tax relief and payments between 2020 and 2024, while Forest claimed £607,000 in 2021/22, and Fulham claimed tax credits of £758,000 between 2019 and 2024.

Since The Times’ initial report in February, the newspaper found that Brentford had also received more than £3 million through the same scheme. Scottish club Dundee United, additionally claimed £1.28 million during 2021/22.
 

Udinese Calcio set for €150 million takeover

Serie A club Udinese Calcio are set for a €150 million takeover by a US investment group, according to multiple Italian media reports.

Udinese have been under the ownership of the Pozzo family for the last 39 years, with the club set to announce their new ownership imminently.

The club have seen significant success during their tenure, having played in the Italian top flight for the last 29 consecutive seasons.

Pozzo family to retain minority share

The family will meanwhile retain their ownership of English club Watford, which will continue to be managed by Gino Pozzo, as they seek promotion to the Premier League.

The Pozzo family is also said to retain a minority stake in Udinese.
 

Ronaldo sells majority stake in Real Valladolid

Brazilian football icon Ronaldo Nazário has agreed to sell his 51 per cent stake in Real Valladolid CF, the Spanish club have confirmed.

In a statement, Valladolid said the majority stake is set to be acquired by a ‘North American investment group’ which has financial backing from a ‘European fund’.

This could be the Ignite fund, in a deal that values the club at €50 million, as reported by Marca.

Agreement subject to CSD approval

Ronaldo invested in Valladolid back in 2018, acquiring his majority stake in a reported €30 million agreement. Last year, the 48-year-old sold his 90 per cent stake in Brazilian club Cruzeiro, after becoming a co-owner in 2021.

The takeover is subject to approval from Spain’s Higher Sports Council (CSD), with further details of the deal set to be revealed in due course.
 

Paris Saint-Germain’s €55 million precautionary seizure cancelled

The Paris Judicial Court has ordered the cancellation of the €55 million precautionary seizure which was placed on Paris Saint-Germain’s accounts in April at the behest of Kylian Mbappé, AFP has reported.

The Real Madrid star, who ended his seven-year tenure at the Parc des Princes last summer, had the order placed on the Ligue 1 champions’ accounts due to alleged unpaid wages and bonuses.

In response, PSG demanded €98 million from the 26-year-old in a counterclaim earlier this month. On 12th May, the club’s lawyers said that Mbappé “had not provided sufficient proof of an appearance of debt and failed to demonstrate any threat to recovery.”

PSG are continuing to argue that the club and their former player struck a verbal agreement in the summer of 2023 that Mbappé would give up a portion of money owed at the end of his contract to help support the French club financially. However, this has been labelled as a “fantasy” by Mbappé's legal team.

Legal case set for industrial tribunal

A hearing before the Paris Judicial Court, which had been initially scheduled for Monday has been postponed.

The case is now expected to continue before the industrial tribunal.
 

Borussia Dortmund score ‘€30 million a year’ Vodafone deal

Borussia Dortmund have inked a new partnership that designates Vodafone as the German club’s front of shirt sponsor from the start of the 2025/26 season.

The five-year deal will run until the end of the 2029/30 season, and is worth €30 million annually, according to Bild.

The UK-based telecommunications company replaces 1&1, which had served as the Bundesliga side’s principal partner since the 2020/21 season.

New kit will not feature red logo

Vodafone’s logo will be printed in black rather than its customary red on Dortmund’s kit for the upcoming season, in a move which the club say was made ‘out of respect’ for the fans.

Reflecting on the new agreement, Borussia Dortmund CEO Hans-Joachim Watzke said: “We are delighted that we were able to convince such a renowned partner to join forces in these economically challenging times.”