English club Reading are in advanced talks over a takeover led by US businessman Rob Couhig, according to The Guardian.

The League One club were originally handed a 4th April deadline to find a new buyer, after their current owner, Chinese businessman Dai Yongge, was disqualified in March. Last week, the English Football League (EFL) extended the deadline until 22nd April.

In a statement on Wednesday 9th April, Reading confirmed that they are in ‘advanced dialogue’ with a new bidder, after a previous exclusivity agreement with Robert Platek expired on 27th March.

Next steps towards takeover

Reading say they are hopeful of completing the takeover ‘at the earliest opportunity’, and expect the prospective deal to comply with the EFL’s requirements.

If the club fail to secure a new owner in time, they could subsequently face suspension by the EFL.

FIGC receives documents from Rome’ prosecutor’s office for Napoli owner investigation

The Italian Football Federation (FIGC) has received documentation from Rome’s prosecutor’s office on the investigation involving Napoli owner Aurelio De Laurentiis, according to La Republicca.

De Laurentiis has been accused of falsifying accounts between 2019 and 2021, with Italian media reporting in February that Rome’s prosecutors office was seeking to indict the 75-year-old, who has owned Napoli since 2004.

The matter had already been the subject of a proceeding that ended with an acquittal, and the federal prosecutor now has 30 days from receiving the papers to ask for the revocation of the trial.

Osimhen transfer

A key part of the investigation is the €71 million transfer of striker Victor Osimhen from Lille to Napoli in 2020, and the capital gains from the deal.

When the Nigerian agreed to join the Serie A club, three Napoli players moved in the opposite direction for €20 million. Namely, these included then third-choice goalkeeper Orestis Karnezis, as well as youth players Claudio Manzi, Ciro Palmieri and Luigi Liguori.

Kostas Manolas’ transferí from AS Roma to Napoli in 2019 is also being investigated.

Benfica aim to generate up to €40 million from latest bond issue

Benfica have launched a new bond issue, as part of a plan to generate up to €40 million.

The Portuguese club will will issue €8 million in shares worth €5 each, with a fixed interest rate of 4.5 per cent per year for the 2025 to 2029 cycle.

Recently, the Lisbon club reported a profit of €40.3 million for the first half of the 2024/25 season.

Previous boss issues

Lat year, Benfica issued a bond of €35 million for the 2024-27 cycle, which was later increased to €50 million, according to 2Playbook.

According to their latest financial statements, the club delivered transfer capital gains of €87 million, marking a 53 per cent increase, in comparison to the same period the previous year.

Manchester City want the Premier League to foot a legal bill worth more than £20 million, after winning their legal case regarding the English top flight’s Associated Party Transition (APT) rules, as revealed by The Times.

In February, an independent tribunal declared that the Premier League’s APT regulations were ‘void and unenforceable’, ruling in favour of the current champions. Although the tribunal has not yet finalised the apportionment of costs for the case, City are planning to apply for the league to cover the legal fees.

The league first introduced its APT rules in 2021, following the Saudi-backed takeover of Newcastle United, as part of a clampdown on partnerships between clubs and companies with ties to their ownership.

City’s latest case against the Premier League

According to recent reports, City have launched a separate legal challenge against the league’s APT rules, claiming that other clubs have an unfair advantage due to shareholder loans from their owners.

City reportedly consider this to be an unfair advantage, with Everton and Arsenal receiving £450 million and £259 million respectively in shareholder loans during the 2022/23 season.
 

DAZN has lost ‘between €200 and €250 million’ in first year of Ligue 1 broadcast deal

DAZN has lost between €200 million and €250 million this season from its Ligue 1 domestic rights agreement with France’s Professional Football League (LFP), according to a report by L’Équipe.

DAZN is just one year into a five-year broadcast agreement with LFP, which is reportedly worth an average of €375 million annually, and will run until 2029. The broadcaster is set to pay €325 million for the first year of the deal, as well as €35 million in additional costs, including salaries, travel expenses, and marketing.

Since the Ligue 1 season kicked off, DAZN has only gained 500,000 subscribers, according to the company’s lawyer, meaning it has generated €120 million from them. If these figures are accurate, this means the network has lost €240 million this year, after paying a total €360 million for the league’s rights.

DAZN’s dispute with Ligue 1

In February, DAZN initiated legal action against the LFP, demanding €573 million in compensation over alleged ‘breaches’ and ‘market dishonesty’. The company would later drop this case, with a mediator brought in by the Paris Commercial Court to help resolve its dispute with LFP.

Despite this, RMC Sport reported earlier this month that DAZN is looking to terminate its Ligue 1 deal at the end of the 2024/25 season.
 

Luis Campos likely to leave Paris Saint-Germain at the end of the season

Luis Campos looks set to leave Paris Saint-Germain at the end of the 2024/25 season, as reported by RMC Sport.

The 60-year-old Portuguese and the newly crowned Ligue 1 champions are yet to agree a new deal, and with Campos’ contract set to expire in June, negotiations appear to have stalled.

Campos joined PSG in 2022 as the club’s football advisor, effectively serving as sporting director, but a renewal now appears unlikely.

Campos has support of PSG manager and president

Last week, PSG manager Luis Enrique expressed his desire for Campos to remain at the Parc des Princes, telling reporters: “I would like Luis Campos to continue at the club. I started with him, I would like to finish with him.”

PSG president, Nasser Al-Khelaïfi, also shares these sentiments, wanting Campos to remain at the club.

The Court of Genoa has ruled in favour of Genoa, rejecting the attempt of 777 Partners lender A-Cap to block the takeover of the Serie A club.

In a statement, Genoa said that the court ‘fully accepted’ the arguments put forward by the club’s legal team.

In January, A-Cap claimed that it still owned the Italian club, and did not agree to its €45 million sale to Romanian businessman Dan Sucu, which was announced in December.

A-Cap’s ownership claim over Genoa

777 Partners collapsed in October, forcing the company to sell its shares in football clubs including Genoa.

According to A-Cap, the US insurance firm had provided a €440 million loan to Genoa in 2023, which included various powers, including voting rights. However, the Court of Genoa has refuted this claim, concluding that any alleged voting power cannot be enforced.

Genoa said in a press release: ‘it was determined that [A-Cap] is not and has never been the holder of the right to challenge the Shareholders’ Meeting Resolution, as it is not listed among the shareholders of Genoa CFC.’
 

Southampton make £5.7 million profit for 2023/24 due to player trading profit

Southampton have reported a post-tax profit of £5.7 million in the English club’s financial statements for the year ended 30th June 2024.

These figures, which mark a significant increase on last year’s loss of £70.5 million for the 2022/23 season, are primarily driven by the club’s £123 million profit on player sales, mainly driven by a reported £53 million sale of Romeo Lavia to Chelsea.

However, following their relegation from the Premier League to the Championship, Southampton’s revenue fell from £145.5 million to £84.8 million.

The cost of relegation

The reduction in turnover for 2023/24 is mainly due to a drop in broadcast revenue, which almost halved, dropping from £108 million to £56 million as a result of the club being relegated to England’s second tier.

Match-day revenue meanwhile decreased from £19.2 million to £16.2 million, while commercial revenue dropped from £15.6 million to £10.1 million.
 

Norwegian club Brann win appeal against UEFA over ‘UEFA Mafia’ chants

Norwegian club Sportsklubben Brann have won their case against UEFA at the Court of Arbitration for Sport (CAS), after European football’s governing body fined them for ‘UEFA Mafia’ chants.

Last year, Brann were handed a €5,500 fine from UEFA after their fans sang ‘UEFA Mafia’ during a Women’s Champions League fixture against Austrian club St. Pollen.

After UEFA claimed that this constituted a breach of its regulations, the club subsequently launched an appeal, arguing that the comments were made in a satirical content, and were justified.

The CAS determined that the use of ‘UEFA Mafia’ indeed did have satirical intent, and therefore ‘cannot be considered offensive of provocative’, according to a statement shared to the club’s website.

Brann president hails CAS ruling

“We are very pleased with the verdict from CAS,” said Aslak Sverdrup, president of Brann.

“It's not every day that a club from Norway moves the whole of football Europe, but today we actually do it. In a world where freedom of expression is under pressure, this is an important and correct judgment," adds the chairman.
 

LaLiga requests precautionary measures to prevent Dani Olmo and Pau Victor from playing for FC Barcelona

LaLiga has requested that Spain’s National Sports Council (CSD) impose precautionary measures that will prevent Dani Olmo and Pau Victor from playing for FC Barcelona for the remainder of the 2024/25 season.

Last week, the CSD granted permission for the two players to continue playing for the club for the rest of the current campaign. This came after the club launched an appeal, after initially missing the 31st December deadline to register the aforementioned players.

LaLiga has now appealed against this ruling, and is seeking an ‘urgent judicial response’ to support ‘competitive balance’ within Spanish football.

LaLiga claim ‘violation of regulatory framework’

In a statement, LaLiga said: "The resolution seriously violates the regulatory framework concerning financial fair play and the processing of sporting licences.

"It undermines the general interest of the competition and compromises its integrity by violating the principle of equality between clubs. All of the above justifies the need for an urgent judicial response."
 

Former City Football Group executive set to join Fenway Sports Group

The Former City Football Group (CFG) executive Laurie Shaw is set to join Liverpool owner Fenway Sports Group (FSG), as reported by The Athletic.

Shaw will reportedly join the organisation in the next few weeks, after being placed on gardening leave by CFG in January.

Previously, he had served as director of football data at CFG since 2021.

Shaw’s next chapter

In his new role, The Athletic reports that Laurie will work across a number of sports.

The US organisation owns a number of teams outside of football, including MLB’s Boston Red Sox, the NHL’s Pittsburgh Penguins, and Nascar’s RFK Racing.

Manchester City have claimed that rival Premier League clubs have an unfair advantage, due to them receiving significant shareholder loans from their owners, as reported by The Times.

In the 2022/23 season, Arsenal received £259 million in shareholder loans, while Everton benefited from £450 million. The previous year, Brighton secured shareholder loans worth £406.5 million, while Leicester City received £265 million.

City reportedly believe that independent experts should have been consulted by the Premier League, in order to review whether they were at free market value. In their latest case against the Premier League, the club are claiming they have received ‘different treatment’ to other clubs.

According to City, the aforementioned shareholder loads were not assessed with the same level of scrutiny as their own Associated Party Transactions (APT), which include sponsorship agreements with companies connected to the club’s ownership.

City’s case against APT rules

First introduced in 2021 following Newcastle United’s takeover by Saudi Arabia’s Public Investment Fund (PIF), the Premier League’s APT rules are intended to clamp down on partnerships between clubs and associated parties relating to their ownership, in order to ensure that they are of fair market value.

After the tribunal determined that the APT rules are ‘void and unenforceable’ in February, City are now arguing that the English top flight should return to its previous regulations prior to 2021.

In a statement, City said: “This continued preferential and discriminatory treatment of shareholder loans has the object and/or effect of distorting economic competition between member clubs on affected markets.”

Chelsea seek UEFA settlement after FFP breach

Chelsea have confirmed talks with UEFA, after the English club exceeded the loss limit of European football’s governing body for the 2023/24 season.

Unlike the Premier League, UEFA does not allow clubs to include revenue from selling assets to sister companies in their financial statements.

In Chelsea's annual report for 2023/24, the club reported a pre-tax profit of £128.4 million, which was primarily driven by the the £200 million sale of Chelsea Women to BlueCo, the consortium between Todd Boehly and Clearlake Capital which took over the team in 2022.

Chelsea’s UEFA settlement

As reported by The Times, Chelsea have exceeded this, and are now engaged in talks with the organisation over a settlement. The publication says the West London club could potentially face sanctions including a financial penalty, and could agree to a three-year spending ban.

The outcome of the settlement is reportedly set to be revealed by UEFA in ‘mid-May’.

Football finance lender OLB acquired by French banking group

Oldenburgische Landesbank (OLB), a German lender known for its involvement in football finance—particularly in funding services such as transfer receivables—has been acquired by French banking group Crédit Mutuel Alliance Fédérale.

The move comes as something of a surprise, given the northern German bank, backed by private equity giant Apollo, had long been weighing a stock market listing.

Crédit Mutuel's acquisition of OLB will be executed through its subsidiary, Targo Deutschland GmbH. While financial terms were not officially disclosed, Reuters reports the deal values OLB at close to €2 billion.

Gaining ground in the Premier League

Last year, OLB and other European banks were granted permission to lend to Premier League clubs, gaining access to the world’s most lucrative football market.

For years, lenders specialising in football receivables finance had lobbied for changes to the Premier League’s regulations, which were originally put in place to prevent potentially questionable lenders from operating in the space. Until recently, only UK-based deposit-taking institutions were permitted to provide loans to clubs.

Sheffield United report £16.6 million profit for 2023/24

Sheffield United’s former parent company, Blades Leisure Group, have revealed a profit of £16.6 million for the year ended 30th June 2024.

This marks a significant uptick on last year’s financial statements, when Sheffield reported a club record loss of £31.4 million for the 2022/23 season.

The Yorkshire club’s revenue more than doubled following their promotion to the Premier League for the 2023/24 campaign, rising from £64.3 million to £138.2 million.

Sheffield spent last season in the English top flight, before being relegated back to the Championship.

Change in ownership

In December, Sheffield were subject to a reported £100 million takeover, after Blades Leisure Limited was sold to COH Sports, a US consortium led by Steven Rosen and Helms Eltoukhy.

The arrival of the club’s new owners marked the end of Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud’s 11-year tenure at Bramall Lane.

CAS hearing set over Club Leon's Club World Cup ban

Mexican teams Club Leon and CF Pachuca have both submitted appeals to the Court of Arbitration for Sport (CAS) regarding FIFA’s decision to eject Club Leon from this year’s Club World Cup.

Last month, FIFA confirmed Club Leon would be excluded from the tournament, after deeming that the two teams did not comply with the organisation’s multi-club ownership rules, with both clubs owned by Grupo Pachuca.

On 31st March, FIFA revealed it was weighing up the prospect of a one-game qualification playoff between MLS club LAFC and Mexican team Club America, with the winner to replace Club Leon in the competition.

Hearing set for next month

CAS has confirmed that the expedited appeals will be heard during the week of 5th May, regarding Club Leon’s status in the Club World Cup.

This summer’s expanded Club World Cup will comprise 32 teams for the first time, and will be held in the US from 14th June to 13th July.

Real Madrid received record prize money of €138.8 million from UEFA following their Champions League win, as per UEFA’s 2023/24 financial report.

That figure marks a slight increase on last year’s Champions League prize money of €134.9 million, when Manchester City lifted the trophy for the first time.

European football’s governing body also revealed Italian club Atalanta earned €33.9 million for their Europa League win, while Europa Conference League champions West Ham United received a payout of €22.1 million.

Record revenue for UEFA

Overall, UEFA generated its highest ever revenue of €6.8 billion from the 2023/24 season, and subsequently distributed a record €1.6 billion in solidarity payments.

The organisation cited the success of last summer’s men’s Euro 2024 championships in Germany, alongside its club competitions, as key drivers for the record figure.

UEFA elects new 11-member Executive Committee at UEFA Congress in Belgrade

UEFA has elected its new Executive Committee during the organisation’s 49th UEFA Congress in Belgrade, where all 55 national association presidents and general secretaries across Europe attended.

The UEFA Executive committee will comprise 11 members in total, eight of which will serve a four-year term. These include Italy’s Gabriele Gravina, and Germany’s Hans-Joachim Watzke, who were both re-elected, as well as Norway’s Lise Klaveness, Croatia’s Marijan Kustić, Finland’s Ari Lahti, Armenia’s Armen Melikbekyan, the Netherlands’ Frank Paauw, and Estonia’s Aivar Pohlak.

Serving a two-year term on the committee will be Spain’s Rafael Louzan, and Israel’s Moshe Zuares. Meanwhile Swiss Super League CEO Claudius Schäfer was ratified as the European Leagues representative on the committee, and will serve a four-year term.

Infantino calls for Russia to return to “football landscape”

Also during the UEFA Congress, FIFA President Gianni Infantino said in his speech that he hopes Russia can “soon” be reinstated into international football, if the country reaches a peace deal with Ukraine.

“As talks are going on for peace in Ukraine, I hope we can soon move to the next page - bring back Russia in the football landscape, because this would mean that everything is solved,” said Infantino.

Spanish Government allows Dani Olmo and Pau Victor to continue playing for FC Barcelona

The Spanish Government has given permission for Dani Olmo and Pau Victor to continue to play for Barcelona for the remainder of the 2024/25 season.

The Spanish Football Council (CSD) ruled in favour of Barcelona, following an appeal from the club, after they missed the deadline of 31st December to register the players. In the meantime, the CSD offered Olmo and Victor temporary permission ahead of the definitive ruling.

Earlier this week, LaLiga issued a statement saying that Barcelona would have their salary cap reduced by €100 million, after the club failed to disclose a €100 million VIP seats deal in their financial statements. This means the club did not have the space to register either of the players.

LaLiga appeals

In a statement LaLiga have announced that it will appeal the decision of The Spanish Football Council (CSD).

"LALIGA reiterates its commitment to legality, fair competition and the objective application of the regulations on financial fair play and player registration. For these reasons, and as LALIGA does not consider the resolution legally valid, it will file an immediate appeal".

Luton Town report record profit for club’s first Premier League season

Luton Town generated a record operating profit of £48 million for the club’s first ever season in the Premier League, as per their financial statements for the year ended 30th June 2024.

The club also delivered record revenue of £132.3 million for 2023/24, marking an increase of more than £100 million on the previous year’s figure of £18.4 million.

Meanwhile, Luton’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) more than quadrupled from £13.7 million to £60 million.

The cost of Premier League football

For the 2023/24 season, Luton’s operating costs more than doubled, rising from £39.5 million to £85 million, following the club’s promotion from the Championship.

Despite the club spending more than £25 million on new player signings, they were unable to retain their Premier League status, after being relegated at the end of last season.

Chelsea’s sale of women’s team ‘yet to be approved’ by Premier League

The Premier League have not yet determined that Chelsea’s sale of Chelsea Women was at fair market value, according to The Times.

Earlier this week, the club reported a £198.7 million profit from selling their women’s team last year to BlueCo, the consortium led by Todd Boehly and Clearlake Capital that has owned Chelsea since 2022.

The women’s team alone have an estimated value worth ‘considerably more’ than £150 million.

PRS concerns

Football finance expert Kieran Maguire told The Times that he would have expected Chelsea Women to have a valuation of £20 million to £30 million. Christina Philippou, a professor in accounting and sport finance at the University of Portsmouth, told the publication that she estimated the team to be worth £50 million and £80 million.

If the Premier League deems that Chelsea artificially inflated the valuation of the women’s team, the club could potentially face sanctions for breaches of its profit and sustainability rules (PSR) regulations.

The sale of Chelsea Women took place on 28th June, just two days before the end of the 2023/24 financial year on 30th June.

LaLiga has reduced Barcelona’s salary cap by €100 million, after the club did not include the €100 million sale of VIP boxes at the Spotify Camp Nou in their financial statements.

The league says that Barcelona’s auditor, Crowe Spain, failed to mention the sales of the VIP seats in their accounts for the first half of the 2024/25 season, meaning the club is in breach of fair play regulations.

In January, LaLiga increased Barcelona’s Club Squad Cost Limit (SCCL), enabling the club to register new players, including Dani Olmo and Pau Victor. This came after the league confirmed receiving documentation soft an auditor which stetted that the sale had been completed on 3rd January.

Despite this, Barcelona’s new auditor did not include the €100 million deal in the club’s financial accounts.

LaLiga’s stance

LaLiga said in a statement: ‘No amount of (the VIP tickets sales) is finally recorded in the Profit and Loss account, contrary to what had been certified by the club and the auditor at the time of the execution of said operation.

‘LaLiga informs that it will report to the Institute of Accounting and Auditing of Accounts (ICAC) the auditor who was appointed by the Club on December 31, 2024 , and who certified the accounting of the aforementioned corporate operation in the Club's Profit and Loss account.’

DAZN prepared to terminate Ligue 1 partnership after just one year

DAZN is prepared to terminate its domestic broadcast rights agreement with Ligue 1 at the end of the 2024/25 season, as reported by RMC Sport.

Last year, the London-headquartered broadcaster inked a five-year deal with the French Football League (LFP) for Ligue 1 rights, which is worth €400 million annually.

However, DAZN and Ligue 1 have found themselves at odds in recent months, after the media company defaulted on its full payment for February, and invoked legal action against the LFP, seeking €573 million in compensation due to alleged ‘breaches’ and ‘market dishonesty’.

DAZN’s concerns ‘understandable’

Since last month, DAZN resumed discussions with Ligue 1, alongside a mediator, which told the network that their complaints over product promotion were ‘understandable’.

DAZN are subsequently looking to end their deal before its two-season exit clause, which can be activated in December 2026. The broadcaster is also reportedly considering defaulting on its next payment, due on 30th April.

Leicester City announce £19.4 million loss for 2023/24

Leicester City have revealed a pre-tax loss of £19.4 million for the period ended 30th June 2024, down from £89.5 million the previous year.

Leicester’s turnover dropped from £177.3 million to £105.3 million for 2023/24, primarily due to the club’s relegation to the Championship at the end of the 2022/23 season.

Accordingly, the club saw their broadcast revenue decrease from £60.3 million to £54.2 million, while sponsorship revenue fell from £32.1 million to £21.5 million.

PSR Concerns

Last year, Leicester were charged by the Premier League for alleged breaches of the English top flight’s profit and sustainability (PSR) rules. This came after the club made total losses of £215.3 million over a three-year period between 2020 and 2023, more than double the PSR’s limit of £105 million over three seasons.

This was later overturned following a successful appeal from the club, which determined that the Premier League lacked the jurisdiction to sanction them when the team was competing in the Championship. The club however could potentially face charges from the English Football League (EFL), which prohibits teams from making losses of £39 million over three years.

DFL announces extra summer transfer window for German clubs

The German Football League (DFL) has announced an additional summer transfer window for the Bundesliga and Bundesliga 2, which will be open from 1st to 10th June.

The move comes as part of a plan to allow teams to conduct transfer business ahead of the FIFA Club World Cup, which will take place between 14th June and 13th July.

Two German clubs - namely Bayern Munich and Borussia Dortmund - will compete in this year’s tournament.

FIFA grants extra window to sign players

Ahead of this summer’s Club World Cup, FIFA has granted member football associations the authority to open an ‘exceptional registration window’ before the competition kicks off.

Recently, the Premier League also confirmed plans for an extra transfer window, which will also open on 1st June, before closing on 10th June.

Leeds United to avoid PSR sanctions despite latest £60.8 million loss

Leeds United have reported a loss of £60.8 million for the 2023/24 season, following the club’s relegation from the Premier League to Championship.

Over the last year, Leeds’ revenue decreased from £190 million to £128 million. This came as a result of central distributions dropping from £94.1 million to £51 million, after being relegated after the 2022/23 season.

Commercial revenue across sponsorship, advertising and other events dropped from £18.3 million to £9.5 million.

Leeds expected to fall with PSR limit

In light of the club’s latest financial statement, Leeds have made a combined loss of £131.2 million over the last three seasons, after making losses of £33.7 million and £36.7 million in 2022/23 and 2021/22 respectively.

The Premier League’s profit and sustainability rules (PSR) prohibit clubs from making losses of more than £105 million over a three-year period, however Leeds are estimated to be between £15 million and £20 million under the limit, as reported by The Athletic.

Reading face latest setback ahead of sale deadline

Reading owner Dai Yongge’s offer to Rob Couhig to lift his security over the English club’s Madejski Stadium home and training ground, has been rejected, according to a report from The Guardian.

The club penned a letter to Couhig, which offered to place some of the funds of the club’s proposed sale to Robert Platek into a frozen escrow account.

Platek entered exclusive talks to purchase Reading in February, however the proposed takeover hit a snag over a potential conflict of interest. The US businessman is the co-head of BDT & MSD Partners, which had previously lent money to multiple English teams.

Couhig meanwhile is currently in the midst of a legal dispute with Reading, after his proposed takeover of the club fell through last year. The former Wycombe Wanderers owner, who previously loaned £5 million to Reading, is seeking £12 million for loss of opportunity. Despite this, the US businessman is still aiming to buy the club.

Reading need to find buyer ahead of 5th April

Last month, incumbent Reading owner, Chinese businessman Yongge, was disqualified by the English Football League (EFL), who handed the club a deadline of the Saturday 5th April to find a new buyer.

If the club fail to finalise a sale beforehand, the EFL will consider various options, which could include suspending Reading or preventing the team from playing.

Ipswich Town made a £39.3 million loss for the period ended 30th June 2024, up from £18.1 million last year.

The overall loss comes despite a 71 per cent increase in turnover, which rose from £21.8 million in 2022/23 to £37.3 million for 2023/24.

Meanwhile, Ipswich’s commercial revenue more than doubled over this period, increasing from £5.4 million to £11 million.

Club are compliant with EFL’s financial rules

Although Ipswich’s losses were up by 116 per cent over the last year, largely driven by an increase in wages from £19.8 million to £44.5 million, the club say they are compliant with the English Football League’s (EFL) profit and sustainability (P&S) regulations.

P&S rules prohibits clubs from losing more than £39 million over a three-year period, or making an average loss of £13 million annually for three years.

Ipswich say that their average loss of £11.6 million a year therefore falls within this threshold, which applies as due to the club’s participation in the EFL's Championship and League One for the previous three seasons, prior to their promotion to the Premier League.
 

St. Pauli raise €27 million from subscriptions to new FCSP cooperative

FC St. Pauli have generated €27 million through the sale of 21,000 subscriptions to the Football Cooperative Sankt Pauli 2024 eG, the club have announced.

The Hamburg-based club opened its subscription period for the cooperative Sankt Pauli in November last year, selling €850 shares as part of a plan to raise €30 million, with the objective of acquiring a majority stake in the club’s Millerntor Stadium home.

St. Pauli’s FCSP cooperative serves as the first of its kind in German professional football, and will hold its first ever general meeting in June.

Club president “infinitely grateful” for community support

Oke Göttlich, president of FC St. Pauli, said: "We are stunned and infinitely grateful for this tremendous outpouring of support from our community.

“The people who hold FC St. Pauli in their hearts or who sympathise with our path have sent a clear message: a different financing approach in professional football is possible.”
 

Ligue 1 clubs blast DAZN and LFP in newly released audio recordings

French journalist Fabien Touati has released new audio clips from meetings between Ligue 1 club presidents on 14th February on the L’After Foot podcast.

At the time, Ligue 1 was embroiled in a legal standoff with broadcast partner DAZN, after the media company withheld its payment for February, and initiated legal action against the Professional Football League (LFP), demanding €573 million in compensation for alleged contract breaches and ‘market dishonesty’.

In the recordings, numerous club presidents criticised DAZN’s Ligue 1 coverage, while some expressed concerns over the French top flight’s governance by the LFP. Le Havre president, Jean-Michel Roussier, can be heard saying: “DAZN, why is this in court? Because they have been making a mess from the beginning.

“They made a mistake in their business plan. They are the only ones in the world who imagined getting 1.5 million subscribers with the crap product they deliver to us.”

LFP’s governance also called into question

Lens president, Joseph Oughourlian, meanwhile criticised the leadership of LFP president, Vincent Labrune.

“The management of the League, Vincent Labrune in particular, the management of the College, Jean-Pierre Caillot, have a very important responsibility in this f****** disaster that is ours,” said Oughourlian.

“It leaves me speechless. I would like these people to take their responsibilities but it is far too much to ask of them.”
 

Sheffield Wednesday fail to pay player salaries for March

Sheffield Wednesday have failed to pay their players’ salaries for the month of March, the English club confirm.

Wednesday say the ‘temporary issue’ with payments is due to ‘significant sums of money' owed to the businesses of chairman Dejphon Chansiri.

"The chairman is working hard to resolve this situation at the earliest possible opportunity and in the meantime thanks everyone for their patience and understanding," the club announce in a statement.

Wednesday’s financial issues

Since Chansiri led a consortium that took over the club in 2015, Wednesday have encountered numerous issues relating to club finances.

Last November, the English Football League (EFL) placed a registration embargo on the team due to money owed to the UK Government’s HM Revenue and Customs (HMRC). Previously, in October 2023, Chansiri called for fans to raise £2 million in order to help the South Yorkshire club cover their debt to the HMRC, and to pay wages.

Chelsea have announced a pre-tax profit of £128.4 million for the year ended 30th June 2024.

That figure is primarily driven by the Premier League club’s £198.7 million profit on disposal of subsidiaries, as well as an £152.2 million profit on disposal of player registrations, and a decrease in operating expenses over the last year.

Last July, Chelsea Women were spun off into a separate entity, as part of a restructuring intended to position the women’s team alongside the men’s.

Chelsea's latest financial statements see them return to profitability, after recording a loss of £90.01 million for 2022/23.

Club see decrease in overall revenue

For 2023/24, Chelsea’s overall revenue fell from £512.5 million to £468.5 million, mainly due to the men’s team’s lack of participation in the UEFA Champions League.

Despite this, commercial revenue saw an increase from £210.1 million to £225.3 million over the last year.
 

Aston Villa present another significant loss

Aston Villa have revealed a loss of £85.4 million after tax for a 13-month period ended 30th June 2024.

This follows a loss of £119.6 million last year, and brings Villa’s combined losses to £205.4 million over the last three years, almost double the Premier League profit and sustainability rules (PSR) threshold of £105 million over a three-year period.

However, the club says they are continuing to operate within the league’s PSR regulations, as these figures are in line with their strategic business plan. Villa made an investment of £16.4 million into the Birmingham club’s infrastructure, up from £13.3 million last year, which can be deducted from their overall losses.

Revenue sees significant increase

Despite Villa’s overall loss for 2023/24, the team's on-pitch success led to a 27.7 per cent uptick in revenue, which rose from £217.7 million to £275.7 million.

The club says this was driven by Villa’s fourth-placed league finish in the Premier League last season, as well as their run to the UEFA Conference League semi-finals.
 

Tottenham reduce loss by £60.6 million as Levy tries to silence critics

Tottenham Hotspur have announced a loss of £26.2 million for the 2023/24 season, down from last year’s loss of £86.8 million. Spurs’ overall revenue saw a four per cent decrease on last year, dropping from £549.6 million in 2022/23 to £528.2 million.

Despite this, the North London club’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased from £138.7 million to £144.9 million.

The Premier League’s new broadcast deal helped drive Spurs’ TV and media right revenue up from £148.1 million to £165.9 million, alongside the club’s higher league finish of fifth, compared to eighth the previous season.

Spurs’ income across commercial, sponsorship, merchandising, and other revenue increased to £255.2 million, up from £227.7 million in 2022/23.

"We cannot spend what we do not have"

Tottenhams chairman, Daniel Levy, used the financial announcement to address some of the criticism that has been aimed at their transfer policy.

"Since opening our new stadium in April 2019, we have invested over £700 million net in player acquisitions," he said and continued "I often read calls for us to spend more, given that we are ranked as the ninth richest club in the world."

"Our capacity to generate recurring revenues determines our spending power. We cannot spend what we do not have, and we will not compromise the financial stability of this club."
 

Everton to avoid PSR sanctions despite £53.2 million loss for 2023/24

Everton have reported a loss of £53.2 million in the English club’s financial statements for the year ended 30th June 2024, the club have announced. The Merseyside club have now made a loss for seven successive seasons, during which time their have lost a combined £570 million.

Despite this, Everton’s turnover rose from £172.2 million to £186.9 million over the last year. Broadcast revenue increased by £13.2 million to reach £129.2 million, mainly due to higher merit-based prize money, after the club’s higher league position of 15th, compared to 17th the previous year.

During this time, capital costs for Everton’s new stadium at Bramley-Moore Dock surged from £210.9 million last year to £312.7 million for 2023/24. The 52,888-seat venue is set to become the club’s permanent home from the start of the 2025/26 campaign.

Combined loss of £187 million

After revealing a £89 million loss for 2022/23, Everton were docked points by the Premier League, for breaches of its profit and sustainability rules (PSR) regulations, which prohibit teams from losing more than £105 million over a three-year period.

With the club’s latest annual results, Everton have made a combined loss of £187 million over the last three years. However, investments into aspects such as club infrastructure can be deducted from that figure, meaning the team will avoid further PSR sanctions.
 

Nottingham Forest return to profitability for 2023/24

Nottingham Forest have generated record revenue of £189.5 million for the financial year ended 30th June 2024, up from £154.7 million last year.

The Premier League club also reported a profit of £12 million, which marks significant improvement on the club’s loss of £67.2 million for 2022/23.

Last season, the club were docked four points by the Premier League after breaches of the English top flight’s profit and sustainability rules (PSR).

Operating loss of £73.3 million

The club’s latest financial result were bolstered by the sales of players including Brennan Johnson, Orel Mangala, Odysseas Vlachomidos, and Moussa Niakhate, securing transfer revenue of £100 million.

Forest made an operating loss of £73.3 million for 2023/24, an increase of 20 per cent compared to the previous year, partly due to a 15 per cent increase in wages now up to £166.4 million.
 

Swansea City reveal £15.2 million loss for 2023/24

Swansea City have reported a pre-tax loss of £15.2 million for the 11-month period ended 30th June 2024, the club revealed in a statement.

The Championship club’s latest financial statements mark a slight improvement on 2022/23, when they revealed a loss of £17.9 million. The financial year end was brought forward in order to align with the English Football League’s (EFL) financial reporting period.

The club says extensive investment into their playing squad contributed to an increase in costs, which rose from £43 million last year to £47 million over the last 11 months.

Swansea remain within EFL’s Profitability and Sustainability regulations

Swansea delivered £21.5 million in turnover for the last season, the same as the previous year.

The club meanwhile generated a profit of £10.5 million in player trading, including the transfer of Joel Piroe to Leeds United in summer 2023. This helped the club remain compliant with the EFL’s Profitability and Sustainability regulations, despite the overall loss.

Liverpool owner Fenway Sport Group (FSG) is interested in a takeover of Spanish club Malaga CF, as reported by The Athletic.

According to the report, FSG recently visited Malaga’s facilities in order to weigh up a potential acquisition of the LaLiga 2 club.

Malaga are currently majority owned by Qatari businessman Sheikh Abdullah Al Thani, who holds a 51 per cent stake in the club, with the remaining 49 per cent owned by Spanish hotels and resorts chain Blue Bay.

The US group is reportedly looking to adopt a multi-club ownership model, after previously entering talks to buy French club Bordeaux last summer, before the proposed takeover fell through. A potential acquisition would add to FSG’s existing ownership portfolio, which includes MLB’s Boston Red Sox, and the NHL’s
Pittsburgh Penguins.

QSI also interested in Malaga

Last week, L’Équipe reported that PSG’s ownership group, Qatar Sports Investments, had held talks over a potential €100 million takeover of Malaga.

QSI’s interest is reportedly driven by Malaga’ status as a host for the men’s 2030 FIFA World Cup in Spain, Portugal, and Morocco.

Arsenal confirm Andrea Berta appointment as sporting director

Arsenal have confirmed the appointment of Andrea Berta as the Premier League club’s new sporting director.

Berta previously spent 12 years at Atletico Madrid, during which time club won two LaLiga titles, the Europa League, and the Copa del Rey, before leaving the Spanish club in January.

The 53-year-old was recently linked with a move to AC Milan, but reportedly turned down the chance to join the Italian giants.

Berta replaces Brazilian former footballer Edu, who resigned as Arsenal’s sporting director in November, ending his five-year-tenure in North London.

Berta reflects on his arrival at the Emirates

“I have watched with great interest the way Arsenal has evolved in recent years and I have admired the hard work that has gone into re-establishing the club as a major force in European football with a passionate following around the world,” said Berta.

“The club has great values and a rich history, and I am looking forward to playing my part in shaping a successful future with a great team.”

RC Celta Vigo sack CEO and CFO

Celta Vigo president Marian Mouriño has sacked CEO Jose Gainzarain and CFO, Sonia Garcia Morquera, as reported by El Desmarque.

Both executives joined Celta in 2023, following a restructuring at the Spanish club.

According to Spanish media, both Gainzarian and Garcia Morquera fell short of the president’s expectations in terms of sporting, commercial, and social success, and subsequently lost her trust.

“Loss of feeling” resulted in CEO departure

In a letter shared by Mundo Deportivo, now-former CEO Gainzarian cited a “loss of feeling” from Mouriño as a key reason for his exit.

“In the corporate area, we've increased revenue by 40 percent and gross profit by 190 percent compared to the 2022/23 season,” said Gainzarian.

He continued: “This path we've charted over the past year and a half is the one we must follow to try to make up for the gap left by sports spending in two or three years and avoid having to rely on extraordinary player sales. In other words, we must become self-sufficient and balance income and expenses.”

Media: Man City sponsorship payments were facilitated by aide to Abu Dhabi ruler

The individual who facilitated sponsorship payments to Manchester City, in a deal that is under investigation by the Premier League, was also an aide to UAE president and Abu Dhabi ruler Mohamed bin Zayed Al Nahyan (MBZ), as reported by The Athletic.

According to the report, Jaber Mohamed, who brokered sponsorship payments to the club totalling £30 million, was also serving as general director of the Crown Prince’s Court (CPC), a UAE governed entity that controls the public affairs of MBZ.

Another City board member also reportedly held a senior position at the CPC at the time.

UEFA’s investigation

In 2020, UEFA suspended City from European club competitions for two years, after its Club Financial Control Board (CFCB) found the two £15 million payments to the club from UAE state-owned telecommunications company Etisalat, which were facilitated by Mohamed.

The payments were deemed by the CFCB as "disguised equity funding", which was a breach of UEFA's financial fair play (FFP) regulations.

In the CFCB’s judgement, which was shared by The Athletic, Mohamed is described as “a person in the business of providing financial and brokering services to commercial entities in the UAE.”

UEFA's suspension was overruled by the Court of Arbitration for Sport (CAS), however European football's governing body would later reveal Mohamed as the one who brokered these payments in an unredacted report.

Fulham report £33.4 million loss for 2023/24

Fulham have revealed a loss of £33.4 million for the year ended 30th June 2024, an increase on last year’s figure of £26 million.

Fulham saw a slight decrease in revenue over the last year, which dropped from £182.3 million for 2022/23 to £181.6 million in 2023/24. Although commercial revenue saw an uptick from £22.7 million to £28.7 million, broadcast revenue dropped from £144.5 million to £134.5 million.

Meanwhile, the West London club saw their total costs rise from £208.7 million to £213.7 million over the last year.

New Riverside stand

In Fullham’s financial statements for 2023/24, the club also confirmed that the new Riverside stand at Craven Cottage is set to open in the ‘second of third quarter’ of 2025.

Last July, the club secured a £125 million loan from JP Morgan Chase Bank, in order to help with the completion of the new stand, which is repayable in full within five years.

Newcastle United eye Manchester United executive as new CEO

Newcastle United are reportedly considering Manchester United’s chief operating officer, Collette Roche, as a candidate to become the club’s new CEO, as reported by The Telegraph.

Roche has held her current role at Old Trafford since joining the club in 2018, and has taken on additional responsibilities since the arrival of Sir Jim Ratcliffe as part-owner last year.

Roche has played a significant role in the development of United’s new stadium plans, which were revealed earlier this month. The reported £2 billion, 100,000-seat venue is expected to be completed in time for the 2030/31 season.

Blood cancer diagnosis

In September, Newcastle announced that their current CEO, Darren Eales, would be stepping down, following his blood cancer diagnosis.

Eales, who joined the club in 2022 after an eight-year tenure at MLS club Atlanta United, will remain in his position until a new CEO is appointed.

Leyton Orient are set for an £18 million takeover led by a US consortium

In February, the League One club confirmed that they had entered exclusive talks with a potential buyer over a reported 70 per cent stake. According to The Guardian, this group is being led by Fubo TV founder David Gandler, and includes UK businessman Kit Hawkins, and Neil Liebman, an executive at MLB’s Texas Rangers.

Last year, Orient’s current chairman, Nigel Travis, revealed plans to seek additional investment in the East London club. The Dunkin Donuts owner led a consortium that purchased the club in 2017, in a move that ended a period of financial difficulties.

For 2023/24, the Orient reported record revenue of £7.7 million, although the club still made an overall loss of £3.7 million.

Plans for a London-based American football team

According to The Guardian, Orient’s prospective new ownership group are interested in forming a new American football franchise as part of the club, which would compete in the European League of Football - a professional American football league based in Europe.

If this came to fruition, they would become the first British team to join the competition, which currently comprises 16 teams.

Eagle Football Group, the owner of Crystal Palace and Lyon, has revealed a net loss of €117 million for the six-month period ended 31st December 2024.

The organisation has cited a decline in player sales over the first half of the 2024/25 season as a key factor in the overall loss, compared to last year’s figure of €60.6 million for the same period. Despite this, revenue excluding player trading saw a seven per cent increase on 2023/24, reaching €82.9 million.

Eagle Football Group also reported an EBITDA of €46.1 million, compared to €7.6 million last year. The company says this is primarily due to an increase in personnel costs, which rose by 17 per cent over the last year.

Projections for the rest of 2024/25

Reflecting on Eagle Football’s latest financial statements, analyst Trion Reid said in a comment: “This is the largest H1 net loss in the club’s history and is alone larger than the largest annual net loss of €107 million in 2021.”

Despite this, the analyst said: ”EBITDA in 2025/26 is expected to be “strong” despite a lower revenue outlook given the reduced domestic TV income, as a result of the cost reduction plan and the “completion and termination of numerous high-value player contracts that were inherited from prior management.”
 

Premier League adds additional summer transfer window due to Club World Cup

The Premier League has revealed an additional summer transfer window, which will be open between 1st and 10th June, in order to accommodate the 2025 FIFA Club World Cup.

The window will later reopen on 16th June, and will close on 1st September.

Two English clubs will compete in the expanded, 32-team tournament this summer, namely Chelsea and Manchester City. The extra window will enable both teams to conduct transfer business before the tournament, which will take place from 14th June to 13th July.

Premier League opts against earlier transfer deadline

As reported earlier this week, English football’s top flight was considering bringing the end of this summer’s window forward to 14th August, which would mean all transfer activity would have concluded before the new season kick off on 16th August.

However one potential disadvantage to this would be to persuade other elite European domestic leagues to shut their transfer windows earlier. Therefore, the Premier League’s shareholders have opted not to change the end date of the window at this time.
 

Spain’s 2030 World Cup committee president resigns over host venue controversy

Maria Tato, president of Spain’s 2030 World Cup committee, has resigned, following a scandal regarding the venue selection proces for the tournament.

A report from El Mundo earlier this month alleged that Tato altered the selection criteria for prospective venues at the World Cup. Anoeta Stadium, the home of Real Sociedad, was subsequently added as a host venue, in place of Celta Vigo’s Estadio de Belaidos.

The removal of Vigo as a host destination drew significant backlash from the city, whose mayor, Abel Caballero, had said: “We demand to know who made the changes, why they were made, and based on which criteria.”

Host selection controversy

In a document shared by El Mundo, the Estadio Balaidos was initially listed as the 11th venue in the Royal Spanish Football Federation’s (RFEF) rankings, ahead of the tournament, with the top 11 stadiums set to serve as hosts for the World Cup.

However, a second document, which was sent to FIFA two days later, lists the Anoeta Stadium in the 11th spot, with Vigo’ home dropped down to 12th place.
 

Ex-RFEF president facing 15 and a half year prison sentence

The Spanish public prosecutor’s office is seeking a 15 and a half year prison sentence for former Royal Spanish Football Federation (RFEF) president Angel Maria Villar, on grounds of alleged corruption and embezzlement, as reported by Mundo Deportivo.

Villar served as RFEF president from 1988 until 2017, when he was suspended and later sacked by Spain’s administrative court for sport on suspicion of improper management, misappropriation of funds, corruption, and falsifying documents.

The former Spanish football head has been accused of defrauding the RFEF of €4.5 million in funds between 2007 and 2017.

Villar’s son and former RFEF vice president also involved in the case

The prosecutors are alleging that Villar arranged friendly matches involving the Spanish national team, and producing contracts around the fixtures that would benefit both himself, and his son Gorka. These games include friendlies against South Korea, Chile, Venezuela, Peru, and Colombia.

Former RFEF vice president, Juan Padron, is also among the eight people implicated in the trial, and is facing a six and a half year prison sentence.