AC Milan have appointed Massimo Calvelli as chief executive officer, with the executive taking over the role previously held by Giorgio Furlani as RedBird Capital Partners strengthens its direct involvement in the club's management.

The appointment was announced by AC Milan, with Calvelli also retaining his positions as CEO International of RedBird Development Group and Operating Partner at RedBird Capital Partners. Calvelli joined AC Milan's board of directors last year.

Founder and managing partner of Redbird Capital, Gerry Cardinale, said the appointment reflected the ambitions of the ownership. “The mandate is clear: we want to play to win, not play not to lose, in everything involving AC Milan, but especially on the pitch,” he said.

Executive role expands

Calvelli said his priority would be to improve the club's organisation, internal processes and operational execution after working closely with senior executives over the past year. He added that he had developed “a first-hand understanding of what needs to be improved and innovated”.

Before joining RedBird, Calvelli served as ATP chief executive from 2020 to 2025. He previously held international roles at Nike, Wilson Sporting Goods and Amer Sports before moving into sports investment and executive leadership.

 

Lyon and Marseille sanctioned by DNCG over financial controls

Lyon and Marseille have been handed sanctions by the DNCG, French football's financial watchdog, following its assessment of the clubs' budgets for the 2026/27 season. The measures were announced after both clubs reported substantial losses in recent years amid financial pressures affecting Ligue 1.

The clubs had been expected to face restrictions after the decline in domestic broadcasting revenues and their recent financial results. Lyon's failure to secure direct qualification for the UEFA Champions League group stage also affected the assumptions underpinning their budget submission.

The DNCG placed Lyon under supervision of their wage bill following the club's change of ownership. Marseille were also sanctioned, with the watchdog imposing oversight of both their wage bill and transfer activity.

Financial pressures remain

Both clubs are expected to generate player sales as they seek to improve their financial position ahead of the new season. Lyon have already agreed the sale of Afonso Moreira to Bayer Leverkusen in a deal worth €32m.

Marseille are also attempting to reduce costs through outgoing transfers, with Mason Greenwood among the players the club are seeking to sell. The DNCG announcement sets the financial framework under which both clubs will operate during the coming season.

 

Italian Senate receives football reform bill focused on youth development

A draft law aimed at reshaping Italian football has been submitted to the Italian Senate, proposing a series of financial and regulatory measures designed to encourage clubs to invest in youth development and improve long-term sustainability. The bill, first reported by Calcio e Finanza, was tabled by Senator Paolo Marcheschi of the Brothers of Italy party.

Among its proposals, the legislation would link part of Serie A's domestic broadcast revenue to clubs' investment in youth development, financial sustainability, infrastructure and the use of players developed in Italy.

At least 15 per cent of television rights income would be distributed according to those criteria, with an additional incentive for clubs that record balanced or profitable accounts over three consecutive financial years.

Incentives for domestic talent

The draft also proposes excluding 50 per cent of the costs associated with signing and employing Italian Under-23 players from financial sustainability calculations between the 2027/28 and 2031/32 seasons, provided those players meet minimum appearance requirements. The measure is intended to encourage clubs to recruit and develop young domestic talent.

Other measures focus on the transfer market. A guarantee fund administered through Italy's Institute for Sports Credit would cover unpaid transfer fees between Italian clubs, replacing the current requirement for bank or insurance guarantees in eligible domestic deals.

The bill also introduces a reverse-charge VAT system for transfers between Italian clubs, shifting responsibility for VAT payments to the buying club in an effort to simplify cash-flow management.

 

Newcastle face HMRC tax demand over historic player transfers

Newcastle United have been issued with a £3.2 million demand from His Majesty's Revenue and Customs (HMRC) after being named on the tax authority’s latest list of deliberate tax defaulters, according to The Guardian.

The amount comprises £1.9 million in unpaid tax and a penalty of £1.25 million relating to the period between April 2010 and April 2016.

The liability is linked to an HMRC investigation into player transfers conducted during Mike Ashley’s ownership. HMRC officers raided St James’ Park in 2017 as part of the investigation, which examined payments involving transfers and agents’ fees.

Court documents said HMRC alleged Newcastle had used “sham” contracts that concealed the true recipients of payments. A criminal investigation was discontinued in 2021, although HMRC continued civil proceedings concerning what it described as serious tax non-compliance.

Spokesperson responds

A spokesperson for St James Holdings Ltd, speaking on behalf of Ashley, said: “HMRC discontinued their criminal investigation prior to any charges being made. The new owners reached a civil settlement with HMRC. There was no finding of deliberate conduct by a court or Tribunal and no admission of deliberate conduct was made to HMRC.”

The club have been owned by Saudi Arabia’s Public Investment Fund since 2021.

The family of billionaire Joe Lewis are preparing to inject at least £100 million into ENIC Sports, the holding company that owns a majority stake in Tottenham Hotspur, according to Bloomberg.

The Lewis family own just over 70 per cent of ENIC Sports, while former Tottenham chairman Daniel Levy and members of his family hold the remaining shares. The investment could also dilute Levy’s minority stake in the company.

Relations between Levy and the Lewis family have deteriorated in recent months. Bloomberg previously reported that Levy had considered legal action after being removed from his role at the club.

Club finances under pressure

The funding would follow a £100 million cash injection by the Lewis family in October last year, which was used to strengthen Tottenham’s finances and support player recruitment. The club finished 17th in the Premier League last season after avoiding relegation on the final day.

Tottenham reported a pre-tax loss of £120 million for the financial year ending June 2025 despite revenue increasing from £528 million to £565 million. In a statement issued in May, the Lewis family said the club’s redevelopment required investment and that they were "fully committed to this.”
 

Club World Cup expected to expand after FIFA and EFC talks

FIFA and European Football Clubs are considering a joint venture to run the Club World Cup, in a move expected to accelerate plans to expand the tournament to include 48 teams in 2029, according to The Guardian.

The next edition is scheduled for the summer of 2029, after the first 32-team tournament was held in the United States in 2025 and won by Chelsea FC who reportedly earned £84 million for the achievement.

The partnership could also lead to the removal of FIFA’s current limit of two clubs per country, which restricted qualification for the 2025 tournament.

More European places

The current format gave Europe 12 places, with qualification based on recent Champions League winners and UEFA coefficient rankings, subject to the country cap.

An expanded 48-team format would increase the number of places available across confederations, including UEFA.
 

City Football Group sell off Yokohama F. Marinos stake

City Football Group (CFG) have transferred their minority shareholding in Yokohama F. Marinos to Nissan Motor Co., leaving the Japanese club wholly owned by the carmaker. The J1 League side said the clubs will continue their relationship as partner clubs despite exiting CFG's multi-club ownership structure.

The transaction means Nissan, which founded Yokohama F. Marinos as a company team in the 1970s, has regained full ownership. CFG had held a minority stake in the club as part of its MCO, which now comprises 10 clubs headed by Manchester City.

In a club statement, Yokohama F. Marinos said: “CFG has provided wide-ranging support for our club’s management and operations as a shareholder to date. Moving forward, Yokohama F. Marinos and CFG will continue their relationship as partner clubs.”

Second exit in six months

The sale follows CFG’s disposal of its majority stake in Mumbai City in December, marking the second club to leave the group’s ownership structure within six months. It also comes after Nissan ended its 11-year global sponsorship agreement with CFG earlier this year.

Yokohama F. Marinos said they will continue working with CFG to strengthen the first team and develop commercial partnerships, while also seeking to broaden their shareholder base as part of plans to improve financial sustainability and reinforce the club’s long-term management structure.
 

FIFA opens door to Russia with youth tournament invitation

FIFA has taken a first step towards lifting its sanctions on Russia by allowing the country to participate in the inaugural FIFA U15 World Cup in Azerbaijan in October.

According to the German Press Agency (DPA), the tournament, which will run from 22 to 31 October, will be open to all FIFA member associations, making it the first FIFA competition in which Russian teams can compete since the country's suspension following the invasion of Ukraine in 2022.

The move follows comments by FIFA president Gianni Infantino in February, when he said he wanted Russian teams to be readmitted to FIFA competitions, arguing that the suspension "has not achieved anything".

Nepal suspended

Meanwhile, FIFA has decided to suspend the All Nepal Football Association with immediate effect and until further notice, removing its membership rights and barring it from FIFA competitions and the FIFA Congress.

The decision follows alleged interference by Nepal’s National Sports Council in the federation’s electoral process. The ANFA presidency has been unresolved since Pankaj Bikram Nembang’s four-year term ended on 19 June.

FIFA president Gianni Infantino has defended the mandatory hydration breaks introduced at the 2026 World Cup, saying the measure has benefited players and could be retained at future tournaments. He also rejected suggestions that football’s governing body is generating additional income from the stoppages.

According to FIFA, the three-minute breaks, held midway through each half, were introduced to help players cope with the high temperatures during the tournament.

However, the pauses have drawn criticism from some players, coaches and supporters, who argue they disrupt the flow of matches and alter the character of the game. Hydration breaks have been applied across all matches rather than only those played in hotter conditions.

Infantino said a selective approach could create an uneven playing field by giving some coaches additional opportunities to influence matches while denying the same opportunity to others. He also argued the breaks may have contributed to maintaining the intensity of matches throughout the full 90 minutes and said FIFA would assess whether to continue the practice in future competitions.

"No additional revenue"

Critics have also questioned whether the breaks were introduced to benefit broadcasters, some of whom use the stoppages to show additional advertising.

In a statement, Infantino said FIFA's commercial agreements had been agreed before the decision to introduce the breaks and that the measure was not linked to additional income. “There is no additional revenue for FIFA, as all commercial agreements were signed well in advance,” he said, adding that the decision was “purely a sporting matter”.
 

Bale-led investment vehicle targets football club acquisition

Former Wales and Real Madrid forward Gareth Bale is seeking to acquire a controlling stake in a football club through the $500 million sports investment vehicle established with US private equity firm Juggernaut Capital Partners. Bale told Reuters that he and Juggernaut founder and managing partner John Shulam are assessing potential opportunities.

The former player said club ownership had long interested him, but that a suitable opportunity had not emerged until his discussions with Shulam. The partnership combines Bale’s experience from professional sport with Juggernaut’s investment expertise.

Bale said several clubs were under consideration, including Cardiff City, but indicated no decision had been made. “Cardiff may be an option, it may not be, but it's just one of many,” he told Reuters.

Ownership strategy

Shulam said the group’s objective is to secure a controlling position rather than a minority holding in a larger club. He said the strategy was focused on acquiring an asset where the partnership could influence decision-making and operations directly.

Beyond football, Shulam said the investment vehicle plans to deploy capital across other areas of sport, including golf, youth sports and women’s sport. He added that the group expects to announce its first investment in a women’s professional team in the near future, arguing that women’s sport has received insufficient attention from investors.
 

Kang's Lyon acquisition see valuation plummit

Michele Kang's agreed takeover deal to acquire an 87.78 per cent stake in Olympique Lyonnais was completed for a €26.3 million fee, according to a statement from Eagle Football Group.

Eagle Football Group said Kang would purchase all shares held by Eagle Bidco, its holding company, for the figure which contrasts with the valuation attached to Lyon when John Textor took control in 2022, in a deal that valued the club at above €800 million.

The transaction also includes additional financial commitments as Kang will inject up to €71 million of new funding into Lyon and has agreed to repay debt owed to Eagle Bidco’s principal lenders.

Debt repayment

Eagle Football Group said the transaction is intended to provide “new funding and stability” for Lyon as Kang has "personally committed to repaying the debt owed to Eagle Bidco's main lenders". EFG referred to approximately €232.6 million of subordinated debt as part of the club’s financial position.

The proposed transaction would remove Lyon from Eagle Football Group and place the club within a new structure called OL Group. The deal remains subject to regulatory approval.
 

Genoa capital increase upheld by court in A-Cap challenge

A court in Genoa has rejected a legal challenge by ACM Delegate LLC, a company controlled by A-Cap Holding LLC, against the capital increase that enabled Romanian businessman Dan Sucu to take control of Genoa, according to Calcio e Finanza.

The ruling, published on Wednesday, confirms the validity of the capital increase approved on 14 December 2024. The transaction provided new funds to support the club’s financial position and resulted in Sucu becoming Genoa’s controlling shareholder.

A-Cap had argued that the resolution was invalid on several grounds, including its alleged exclusion from the shareholders’ meeting, the removal of subscription rights, a lack of notice regarding the meeting and what it described as a conflict of interest involving a vote cast by 777 Genoa Holdings. The court rejected those arguments and upheld Genoa’s position.

Genoa arguments accepted

The decision follows two earlier precautionary rulings that had also gone against A-Cap. The court’s judgment runs to more than 50 pages and accepted Genoa’s arguments in full.

The court also ordered ACM Delegate LLC to pay legal costs. The ruling is immediately enforceable and confirms the validity of the process that led to the change of control at Genoa, although A-Cap may still consider further legal action.
 

Tottenham put sporting director hunt on hold

Tottenham Hotspur have put their search for a new sporting director on hold until the end of the summer transfer window, according to minutes from a recent meeting between club executives and the Fan Advisory Board (FAB). The club had been expected to appoint another senior recruitment figure following Fabio Paratici’s departure in February.

Chief executive Vinai Venkatesham told supporters’ representatives on 16 June that appointing a sporting director was no longer an immediate priority. Johan Lange, head coach Roberto De Zerbi and newly appointed director of football operations Rafi Moersen are overseeing recruitment during the current transfer window.

Addressing speculation around the role, Venkatesham said the club would only make an appointment if it found someone capable of strengthening the existing structure. He added: “No-one has been in a process and turned us down. Many names in the media linked with us, we have never even spoken to.”

Lange defended

Venkatesham also defended Lange amid criticism from supporters, saying the Dane and De Zerbi work closely on football decisions and recruitment planning.

Club leadership also reflected on Tottenham’s 2025/26 campaign, which ended with the team narrowly avoiding relegation on the final day of the season. Non-executive chairman Peter Charrington and Venkatesham both described the campaign as “unacceptable” during the meeting.
 

Lazio ordered to pay compensation in pregnancy contract dispute

The Court of Arbitration for Sport (CAS) has ordered Lazio Women to pay more than €69,000 in compensation to former player Maja Gothberg after ruling that the club unlawfully ended its employment relationship with her following the disclosure of her pregnancy in 2024.

CAS partially upheld Gothberg’s appeal against a previous FIFA Dispute Resolution Chamber decision that had dismissed her claim. The panel found that a binding agreement existed between the parties despite the absence of a signed and registered contract.

Gothberg played a regular role in Lazio’s promotion-winning campaign to Serie A during the 2023/24 season and had negotiated terms for a new contract. CAS found that agreed financial conditions, draft agreements and arrangements for her return to Rome supported the existence of a binding employment relationship.

"About being treated fairly"

Lazio argued that no contract had been formed and denied discrimination. However, CAS ruled that the club had not demonstrated that their decision was unrelated to Gothberg’s pregnancy and also found that an assistant coach disclosed her pregnancy to players without her consent. FIFPro said the decision confirmed that maternity protections in football provide enforceable rights for players.

The ruling awarded Gothberg €64,000, equivalent to the value of the proposed one-year deal, plus interest. CAS also awarded compensation for the disclosure of her pregnancy, which it considered sensitive medical information. Gothberg said: “This case was never only about football. It was about being treated fairly and with respect at an important moment in my life.”

Michele Kang is set to become the sole majority shareholder of Olympique Lyon after reaching an agreement with Ares, the main creditor of Eagle Football Bidco, and Cork Gully, the liquidator of the holding company that controls around 87 per cent of the French club.

In a statement, Lyon said the agreement would increase Kang’s stake in the club and would see her commit up to €71 million in funding, rising to €75 million including transaction costs.

The transaction remains subject to approval from France’s national directorate for financial control (DNCG), which is expected to decide in the coming days whether Lyon will be permitted to remain in Ligue 1.

Set to leave Eagle Football structure

If approved, the deal would result in Lyon leaving the Eagle Football group and returning to the OL Groupe structure that previously owned the club.

The club said OL Groupe would remain listed on the stock exchange following completion of the transaction.

Real Madrid to take CVC case to Supreme Court after appeal dismissal

Real Madrid have announced plans to appeal to Spain’s Supreme Court after the Madrid Provincial Court dismissed a joint appeal by the club and Athletic Club against LaLiga’s agreement with investment firm CVC Capital Partners.

The court upheld an earlier ruling issued in February 2024, which validated the transaction underpinning LaLiga’s Liga Impulso project. Real Madrid said it respected the judgment but disagreed with its conclusions and considered that key legal, economic and institutional issues had not been sufficiently addressed.

In a statement, the club said the ruling failed to provide “a sufficient response to issues of extraordinary legal, economic and institutional relevance for the present and future of Spanish professional football”.

Real Madrid said the court’s decision was largely based on the view that CVC’s remuneration constitutes a cost linked to the commercialisation of audiovisual rights and that the operation does not affect clubs that chose not to participate. The club rejected that interpretation, arguing that the agreements directly affect the management of audiovisual rights, LaLiga’s economic framework and the interests of all clubs in the competition.

CVC agreement

The disputed agreement forms part of LaLiga’s Liga Impulso project, launched in 2021. Under the deal, CVC committed to invest €1.9 billion in exchange for a share of the league’s future audiovisual rights revenues over a multi-decade period.

The arrangement was approved by LaLiga clubs, with 38 of the 42 professional teams then competing in Spain’s top two divisions opting to participate. Real Madrid and Athletic Club were among the clubs that opposed the transaction.

Gladbach CEO Stegemann reopens debate over investor involvement

Borussia Mönchengladbach chief executive Stefan Stegemann has raised the possibility of future investor involvement at the Bundesliga club, suggesting that external capital could be considered if it aligned with the club’s values.

Speaking on the club’s podcast 'FohlenPodcast – Standpunkte', Stegemann said Borussia still had options to explore as they look for ways to strengthen their financial position. He pointed to initiatives at other German clubs, including co-operative models adopted by Hamburger SV, Schalke 04 and FC St. Pauli.

The comments come as Mönchengladbach prepare to begin a new stadium naming-rights agreement with energy services company Ista on 1 July. The deal will see the club’s stadium renamed Ista-Borussia-Park under a contract running until at least June 2031.

Funding options remain open

Stegemann, who succeeded long-serving finance executive Stephan Schippers at the start of 2025, said a future sale of stakes in the club could not be ruled out. He suggested that investor participation might be possible within a co-operative ownership structure.

“Maybe within the framework of a co-operative model there is the option to say that you are also comfortable with one or another investor because they would fit Borussia and the values of the club well,” Stegemann said in the club podcast.

Manchester United have acquired a 25-acre site near Old Trafford that the club plan to use for a proposed new 100,000-seat stadium, according to a club announcement.

The land, purchased from industrial warehousing company Indurent, is located around 350 metres north west of the current stadium. United said the acquisition secures the majority of the land required for the project.

The deal means United no longer need land owned by rail logistics company Freightliner, situated directly west of Old Trafford, for the development. Freightliner had been seeking around £303 million for its site, compared with United’s previous expectation of a fee of about £50 million.

Further plans due next month

The acquisition represents a change from the concept designs unveiled by United and Foster + Partners last year, which placed the proposed stadium adjacent to the existing Old Trafford site. The club said it does not expect difficulties securing the remaining land needed for the development.

United, Trafford Council and the Old Trafford Regeneration Mayoral Development Committee are due to present further details of the stadium and wider regeneration project on July 9.

Collette Roche, United’s chief executive of new stadium development, said the land acquisition was “absolutely critical” to plans for a new stadium and would allow the club to build close to Old Trafford while preserving supporter traditions linked to the current ground.

Giovanni Malagò elected president of the Italian Football Federation

Giovanni Malagò has been elected president of the Italian Football Federation (FIGC), succeeding Gabriele Gravina following his resignation earlier this year. Malagò takes charge as Italy seek to recover from their failure to qualify for a third consecutive World Cup.

The 67-year-old businessman secured 68.58 per cent of the vote at the FIGC assembly in Rome, defeating former federation president Giancarlo Abete. He arrives in the role after leading the organising committee for the Milano Cortina Winter Olympics held in February.

Malagò, a former president of the Italian National Olympic Committee and former futsal player, acknowledged the scale of the task ahead. “I am not afraid but I am highly mindful of the responsibilities. The expectations are absurdly high but that is also the case within the Federation itself,” he said after the vote.

Immediate challenges

The election follows a period of scrutiny for Italian football after the national team’s latest unsuccessful World Cup qualification campaign prompted criticism from supporters and political figures. Gravina stepped down after the outcome.

Among Malagò’s first priorities will be appointing a new coach for the men’s national team, reviewing youth development structures and overseeing preparations for Euro 2032, which Italy will co-host with Turkey.

Clermont Foot sale agreement reached ahead of ownership change

Clermont Foot have reached an agreement for the sale of the club, with 94.33 per cent of the shares set to change hands from current owner Coresports Alliance, according to a club statement.

The agreement would bring an end to Ahmet Schaefer’s ownership of Clermont Foot, seven years after he acquired the club. Stéphane Tessier, the former chief executive of Olympique de Marseille, is expected to lead the new ownership group if the transaction is completed.

The club said Schaefer and Tessier are scheduled to appear before France’s football financial watchdog DNCG today, as part of the process required to complete the takeover.

Awaits approval

The ownership change remains subject to regulatory approval before it can be formally completed. Clermont said all parties are continuing work to finalise the transaction in line with the required procedures and timetable.

Clermont finished 13th in Ligue 2 during the 2025/26 season. If the transaction is approved, the incoming leadership team will take control of the club ahead of preparations for the new campaign.

Newcastle United have held exploratory discussions with Arctos Partners over a potential investment in the Premier League club and its stadium plans, according to Bloomberg. The talks are understood to be at an early stage and may not lead to a transaction.

The club, which is majority owned by Saudi Arabia’s Public Investment Fund (PIF), has also approached other sports investors as it explores funding options for a stadium redevelopment project. PIF is considering whether to expand St James’ Park or build a new stadium.

Bloomberg reported that PIF has examined the possibility of selling a minority stake in Newcastle as part of the financing process. Any transaction would involve new capital being injected into the club rather than an existing shareholder reducing its holding.

Potential funding options

PIF owns 85 per cent of Newcastle, while Reuben Brothers hold the remaining 15 per cent. The club’s stadium plans are expected to require hundreds of millions of pounds in investment. Last month, Newcastle acquired properties surrounding St James’ Park, saying the purchases would provide greater flexibility for future development.

Arctos, which was recently acquired by KKR, holds minority interests in Paris Saint-Germain and Liverpool through an investment in Fenway Sports Group. Representatives for PIF and KKR declined to comment on the discussions, according to Bloomberg.

 

Proxy advisor urges Manchester United investors to oppose most directors

Institutional Shareholder Services (ISS) has recommended that shareholders vote against 10 of Manchester United’s 12 directors, citing concerns over board independence and governance arrangements at the NYSE-listed football club, Bloomberg reported.

According to a copy of the proxy adviser’s report, only two directors were considered independent. ISS backed the re-election of Robert Leitão and John Hooks but advised investors to oppose the remaining directors, including six members of the Glazer family.

The recommendation comes ahead of Manchester United’s annual general meeting, with analysis of company data placeing the club among the lowest-ranked NYSE-listed businesses for board independence.

Further governance concerns

A separate report from shareholder adviser Glass Lewis also criticised Manchester United’s governance practices, including the company’s failure to publish detailed proxy voting results from previous annual meetings. “Such disclosure is a fundamental shareholder right,” Glass Lewis said, according to Bloomberg.

ISS also criticised the absence of a nominating committee and said the compensation committee should be fully independent. Glass Lewis questioned the size of the audit committee, which has two members, while ISS highlighted Robert Leitão’s role at Rothschild & Co, which advised the Glazer family on the sale of shares to Ineos.

 

DAZN creates new holding company structure ahead of IPO option

Sports streaming platform DAZN is reorganising its corporate structure as it seeks greater flexibility for future fundraising and a potential stock market listing, according to the Financial Times.

The company is establishing a new Cayman Islands holding company for the DAZN Group, with ultimate control remaining with owner Leonard Blavatnik’s Access Industries. Corporate filings show ownership has already been transferred from an existing holding company as part of the reorganisation.

An executive familiar with the process told the Financial Times that the changes were designed to “optimise the group’s corporate structure and enhance its flexibility to pursue future strategic and financing opportunities”, including possible capital raises and a public listing. The executive said no decision had been made on an IPO or its timing.

FIFA conncetion

DAZN has expanded its position in football in recent years, including a $1 billion agreement with FIFA last year to secure exclusive rights to the FIFA Club World Cup in the United States. Earlier this month, the streamer also agreed to integrate FIFA’s digital platform FIFA+ into its service, adding live matches, archive footage and other content.

The restructuring follows continued investment in the business by Blavatnik, who has provided more than $7 billion since DAZN’s launch. The company reported a reduced loss of $936 million in 2024, compared with $1.4 billion a year earlier, while revenue rose to $3.2 billion. DAZN raised a further $1 billion from Saudi Arabia last year in exchange for a minority stake.

 

Iran to complain to FIFA over World Cup travel restrictions

Iran’s football federation plans to lodge an official complaint with FIFA over travel arrangements at the World Cup, arguing that restrictions placed on the team have affected its preparations ahead of a decisive Group G match against Belgium.

The federation said Iran will only be permitted to arrive in Los Angeles 24 hours before Sunday’s fixture, having previously been required to return to their team base in Tijuana immediately after a 2-2 draw with New Zealand rather than remain in the host city for recovery work.

Iran head coach Amir Ghalenoei and captain Mehdi Taremi both criticised the arrangements after the New Zealand match. Taremi described recent weeks as a “disaster”, while Ghalenoei said Iran were the tournament’s “most oppressed” team.

Concerns over equal treatment

According to The Guardian, Iranian officials had argued for additional time in Los Angeles before matches and presented their case to FIFA, but were informed the team would again be unable to arrive two days before kick-off.

The federation said it believes the measures are “inconsistent with the principle of providing equal conditions for all participating teams” and could affect preparation. It added that a formal complaint would be submitted to FIFA while the national team remained focused on its match against Belgium.

 

Shrewsbury takeover close as buyers enter EFL test

Shrewsbury Town are edging closer to a takeover by a US consortium, with the prospective owners now understood to be undergoing the English Football League’s owners’ and directors’ test.

According to BBC Radio Shropshire, terms of a deal have been agreed and documentation has been submitted to the EFL as the League Two club continue discussions with the American group. Additional paperwork is also being prepared as part of the approval process.

The development represents the most advanced stage reached in Shrewsbury’s search for a new owner since chairman Roland Wycherley began seeking investment in September 2024.

Takeover process continues

The consortium currently in talks with Shrewsbury is understood to be different from a previous US-based group whose proposed deal collapsed last year because of external issues. Other takeover attempts have also fallen through during the past 12 months despite reported interest from several parties.

While the process is progressing, a deal is not believed to be imminent and Wycherley remains responsible for funding the club and its transfer activity. A successful takeover would bring an end to his three decades in charge of Shrewsbury.

Hull City must raise funds before 1 July to avoid a potential points deduction in the Premier League after exceeding the English Football League’s profit and sustainability rules (P&S) limit, according to BBC Sport.

The club secured promotion to the Premier League by beating Middlesbrough in the Championship play-off final. However, promotion has not removed concerns over the club’s financial position.

Reciprocal arrangements between the EFL and Premier League mean any sanction could now be applied in the top flight, creating pressure on Hull to complete outgoing transfers before the new financial year begins.

Owner acknolwedges

Player trading is expected to be central to Hull’s efforts to address the overspend with the club understood to be willing to listen to offers for key players.

Hull owner Acun Ilicali publicly acknowledged earlier this month that the club need to sell players before the accounting deadline. “We have overspent and we have to sell some players before 1 July,” he said during a supporters’ Q&A.
 

AFE seeks mediation over collective agreement negotiations dispute

The Association of Spanish Footballers (AFE) has filed a request for mediation ahead of a potential collective dispute claim after accusing LaLiga of refusing to establish the negotiating committee for a new collective agreement covering players in Spain’s top two divisions.

AFE said the move was prompted by what it considers a failure to comply with the 17th additional provision of Spain’s 2022 Sports Law, which sets out the requirements for trade union participation in collective bargaining. The union argued that the situation also affects its right to collective negotiation.

According to Marca, LaLiga rejected suggestions that it had refused to create the negotiating committee and said it had convened an initial meeting on 12 June at its headquarters, although no agreement was reached.

Disagreement over representation

The dispute centres on whether the Futbolistas ON union should be involved in negotiations. AFE maintains it is the only union entitled to negotiate after securing 856 of the 919 valid votes cast in elections held across the 42 dressing rooms in the first and second tiers.

AFE said Futbolistas ON received 57 votes, representing 6 per cent of valid ballots, below the 10 per cent threshold established by the 2022 Sports Law for participation in negotiations.
 

Anti-corruption authority clears Malagò to stand in FIGC presidential election

Giovanni Malagò has been deemed eligible to run for president of the FIGC after Italy’s National Anti-Corruption Authority (ANAC) issued a favourable opinion on his candidacy ahead of the federation’s election on Monday, 22 June.

The decision removes uncertainty over whether rules governing post-public employment appointments could prevent the former CONI president from standing.

According to ANSA, ANAC concluded that the so-called pantouflage provisions do not apply to the role of FIGC president. The issue had remained unresolved for several weeks following a request for clarification from Sports Minister Andrea Abodi.

The question centred on whether Malagò’s move from CONI, which oversees sporting bodies including the FIGC, could fall within restrictions on certain professional relationships after leaving public office. ANAC’s opinion removes the risk that his candidacy could be challenged on those grounds before the vote.

Legal interpretation

In its reasoning, ANAC said the relevant legislation covers collaboration, consultancy and employment relationships, but does not include appointments as president or member of a collegiate body within a private organisation. It therefore found that a key condition required for the restrictions to apply was absent in this case.

“I have learned with satisfaction of ANAC’s opinion,” Malagò told ANSA. The election will now proceed with Malagò and Lega Nazionale Dilettanti president Giancarlo Abete as the only candidates.

Leeds United are considering legal action against Leicester City following a ruling that ordered Everton to pay almost £40 million in compensation to Burnley over a breach of the Premier League’s Profitability and Sustainability Rules (PSR).

According to The Times, Leeds are examining whether Leicester’s financial rule breaches affected the club’s fortunes in both the 2022/23 and 2023/24 seasons. Leeds and Leicester were both relegated from the Premier League in 2022/23, while Leicester secured automatic promotion the following season as Leeds lost in the Championship play-offs.

Leicester were deducted six points last season after being found to have breached spending rules during the 2023/24 campaign, a sanction that contributed to their relegation to League One.

Ruling impact

The Burnley ruling is expected to be closely watched by clubs considering potential compensation claims linked to the 130 Premier League charges facing Manchester City, with several sides reportedly already preparing legal action should the club be found guilty of breaching the rules.

Leeds previously reached an undisclosed out-of-court settlement with Everton over the Merseyside club’s PSR breach after finishing one place and one point behind them in the Premier League.
 

Real Madrid submit ‘new evidence’ to UEFA and urge reopening of Negreira case against Barcelona

Real Madrid have informed UEFA that they have submitted what the club describe as new evidence in the Negreira case and have called for the immediate reopening of disciplinary proceedings against FC Barcelona.

In a statement issued on Wednesday, Real Madrid said they had provided UEFA’s disciplinary bodies with documents which they believe strengthen existing indications of long-term payments made by Barcelona to José María Enríquez Negreira, the former vice-president of the Spanish Football Federation’s Technical Committee of Referees.

The club said the material pointed to “prolonged, opaque payments” made through different corporate structures and argued that the transactions lacked “any verifiable justification”.

Integrity threat

Real Madrid said the alleged conduct represented a threat to the integrity of sporting competitions, claiming it suggested the existence of an improper mechanism of influence over referees that was incompatible with principles of neutrality, impartiality and equal treatment between competitors.

The club urged UEFA to adopt any disciplinary or corrective measures it considered appropriate and said it would continue to pursue steps aimed at ensuring such matters do not go unpunished.

Barcelona and several former club officials remain under investigation over payments of more than €7.3 million made to Negreira between 2001 and 2018. The club have denied wrongdoing, maintaining that the payments were for reports and advice relating to refereeing matters.
 

Gareth Bale launches $500 million sports investment fund alongside private-equity firm

Former Wales captain Gareth Bale has partnered with private-equity firm Juggernaut Capital Partners to launch a $500 million sports investment fund targeting opportunities across North America and Europe.

The fund, named Juggernaut Diversified Sports, will invest in sports teams, leagues and related businesses in both men’s and women’s sports. It will also consider opportunities in the youth sports sector.

Bale has previously been linked with takeover bids for his former club Cardiff City as well as Plymouth Argyle.

Preparing first investment

John Shulman, founder of Juggernaut Capital Partners, said the fund was already preparing its first investment. “We’re within about 60 days of making our first investment into a professional women’s sports team,” he said, adding that the group expects women’s sport to form part of its wider investment platform.

According to Juggernaut, the strategy will focus on acquiring and developing sports properties rather than taking passive stakes in established organisations. The firm said it sees opportunities across multiple segments of the sports industry.
 

UEFA imposes €10 million fine on Marseille alongside suspended European expulsion

UEFA has fined Olympique de Marseille €10 million and imposed a suspended competition exclusion and transfer ban after determining that the French club failed to meet financial sustainability requirements for the 2025/26 season.

The ruling by the First Chamber of UEFA’s Club Financial Control Body (CFCB) includes a €6 million penalty for breaching revenue-related regulations and a further €4 million fine after Marseille’s squad cost ratio exceeded the 70 per cent limit in the 2025 calendar year.

UEFA also said Marseille will be barred from registering new players for European competitions in 2026/27 and face exclusion from the next UEFA club competition for which they qualify within the following three seasons. However, those measures will only take effect if the club fail to meet financial targets set for 2026/27.

The governing body noted that Marseille’s finances had been affected by the decline in audiovisual revenue in France, but confirmed that the club had not achieved the profitability target agreed under UEFA’s sustainability framework.

Roma sanctioned

AS Roma were also sanctioned following UEFA’s review. The Italian club received a total fine of €6 million, comprising a €2 million penalty for slightly exceeding an intermediate financial target for the 2025 fiscal year and a further €4 million after their squad cost ratio rose above the 70 per cent threshold in 2025.

Seven clubs were announced to have complied with their settlement agreement thus exiting the settlement regime. These were AC Milan, AS Monaco, Beşiktaş JK, Inter Milan, Paris Saint-Germain, Royal Antwerp and Trabzonspor A.S
 

US fund set to take control of Frosinone to form MCO

Frosinone Calcio are set for a change of ownership following their return to Serie A, with club president Maurizio Stirpe reportedly preparing to sell a controlling stake to US investment fund Gamechanger 20, the owner of English club Ipswich Town, thus establishing a multi-club ownership group covering Premier League and Serie A.

Gamechanger 20 is the majority shareholder of Ipswich Town after securing a 90 per cent stake from Marcus Edwards in 2021. The fund is owned by Portman Holdings alongside Clara Vista Partners, ORG Portfolio Management and the Three Lions Fund. Three Lions is led by Brett Johnson and Berke Bakay, and also holds stakes in US clubs Phoenix Rising and Rhode Island FC.

Italian media report that discussions over a deal have been ongoing for around six months. Details of the transaction, including the ownership split and board composition, are expected to be announced on 1 July. Stirpe is expected to remain involved with the club and could continue as president.

Lazio owner close to Reggina takeover

Meanwhile, SS Lazio owner Claudio Lotito is close to acquiring Serie D side AS Reggina. According to Italian media, Lotito has submitted an offer of €2 million for the club, with current owner Nino Ballarino now considering the proposal amid continued interest from Underdog Global Partners' Matt Rizzetta.

A deal could be completed in the coming days, although the structure of the investment remains unclear. It is not yet known whether Lotito would acquire the club directly or alongside partners.
 

Former NBA player proposes €55 million investment in Liga F

Pau Gasol’s investment vehicle, Gasol16 Ventures, has proposed a €55 million investment in Liga F as the women’s football competition seeks to strengthen its commercial model and expand its international presence.

The proposal is due to be presented to clubs at an Extraordinary Assembly scheduled for 29 June. According to Spanish media reports, the transaction would rank among the largest private capital investments made in a women’s football league.

The investment is intended to support the competition’s growth in domestic and international markets while providing a long-term framework for Liga F and its member clubs.

Investment focus

Gasol16 Ventures, which invests in sports, health and wellness businesses, said the proposal is designed to help increase the visibility of women’s sport and attract additional capital to the sector.

The former NBA player has previously invested in women’s sports properties, including the WNBA and NWSL side Bay FC.

The owners of Crystal Palace are exploring a sale of the club, according to the Financial Times, with options said to include a full disposal as well as raising fresh capital.

Palace are working with advisers at Raine Group on the process. People familiar with the matter told the Financial Times that several ownership and financing options are under consideration, while the club is also assessing funding requirements linked to future growth plans.

The club's shareholder group includes Apollo co-founder Josh Harris, former Blackstone executive David Blitzer, New York Jets owner Woody Johnson and executive chair Steve Parish.

Ownership structure

Johnson became Palace's largest shareholder after acquiring a 43 per cent stake from Joh Textor last year at a valuation of £550 million. Harris and Blitzer together control 30 per cent of the club, while Parish holds 10 per cent and has served as executive chair since 2010.

The review comes as Palace continue work on plans to redevelop Selhurst Park and increase the stadium's capacity.

Ares and Michele Kang close to agreement for Lyon control

Ares Management and businesswoman Michele Kang are close to agreeing a deal to take control of Olympique Lyon, according to Bloomberg.

The transaction is being finalised with Cork Gully LLP, the administrator of John Textor’s Eagle Football Group Bidco, people familiar with the matter told.

Ares and Kang were both involved with Lyon during Textor’s ownership of the French club. The proposed agreement follows the collapse of Eagle Football Group and would give the pair control of one of its principal assets.

$547m owed

Earlier this month it was reported that Ares is owed more than $547 million following Eagle Football Group’s collapse. The debt includes $400 million in principal, with the remainder made up of accrued interest.

The recovery of funds owed to Ares is expected to depend largely on the disposal of Eagle Football’s assets, according to filings from the company’s administrators.

Benfica board blocks Tim Leiweke stake acquisition

SL Benfica have informed US investor Tim Leiweke that he will not be permitted to acquire a stake in the club, according to a report from Bloomberg.

The decision relates to Leiweke’s planned purchase of a 16.4 per cent holding in Benfica SAD from José António dos Santos, the company’s second-largest shareholder.

Leiweke’s fund, Entrepreneur Equity Partners, agreed the deal in April as part of a strategy to acquire minority investments in European football clubs. Benfica’s board has since communicated its position to representatives of both Leiweke and dos Santos.

The club’s statutes give the board authority to veto acquisitions exceeding 2 per cent of Benfica SAD’s share capital. The provision can be used where potential conflicts of interest are considered to affect the club’s independence.

Used veto before

Benfica previously exercised the same power in 2021 when it blocked an attempt by investor John Textor to acquire a 25 per cent stake in the SAD.

Benfica’s opposition to the proposed transaction is linked to the investor’s interests in other European football clubs, with the board concluding that the acquisition could not proceed under the club’s rules. Leiweke has recently invested in newly promoted Serie A side Venezia.

Newcastle United have agreed a three-year front-of-shirt sponsorship agreement with KNOX Hydration worth around £60 million, according to The Athletic. The South African sports drinks company will replace Sela as the club’s main kit partner under a deal running from the 2026/27 season.

The agreement expands KNOX’s existing relationship with Newcastle, having already secured naming rights for the club’s Darsley Park training ground in a separate three-year arrangement due to begin on 1 July. KNOX are paying £6 million per season under that agreement.

For the first year of the shirt sponsorship, KNOX will pay up to £10 million after Newcastle’s new home kit went on sale without a sponsor displayed on the front. Payments are then expected to rise to as much as £25 million annually over the following two seasons, subject to performance-related bonuses.

Additional revenue streams

KNOX are not affiliated with Saudi Arabia’s Public Investment Fund, which owns Newcastle, unlike outgoing sponsor Sela. The club will also work with KNOX on the launch of a club-linked drinks brand intended to generate additional commercial income.

Newcastle believe the combined sponsorship and training-ground agreements represent an increase on their previous arrangement with Sela, which was worth about £22.5 million per year. If all bonuses are achieved, the total value of the KNOX agreements would reach £78 million across the contract period.

13 World Cup nations criticise Ceferin over expansion comments

Thirteen nations competing at the 2026 FIFA World Cup have criticised UEFA president Aleksander Ceferin over comments they said dismissed the value of matches involving countries that have benefited from the tournament’s expansion to 48 teams.

In a joint statement, the football associations of Cape Verde, Curacao, Uzbekistan, DR Congo, Haiti, Algeria, Tunisia, Morocco, Egypt, Ghana, Senegal, Ivory Coast and South Africa said they were “profoundly disappointed” by remarks attributed to Ceferin about the enlarged competition.

The statement was issued after Ceferin said that the increase from 32 to 48 teams would result in more matches that were “completely uninteresting”. The associations responded: “For our countries, there is no such thing as an unimportant World Cup match.”

World Cup expansion debate

The 2026 tournament in the United States, Mexico and Canada is the first World Cup to feature 48 teams, following FIFA’s decision to expand the competition from the 32-team format used since 1998.

The associations said qualification represents a historic achievement for emerging football nations and argued that every team had earned its place on merit.

Lazio need €19.5 million to avoid transfer market restrictions

S.S. Lazio will need to inject €19.5 million in fresh capital or end the summer transfer window with a positive balance after breaching Serie A's extended labour cost ratio threshold, according to a report from by Calcio Finanza.

The club recorded an extended labour cost ratio of 0.822, above the Italian Football Federation's limit of 0.7, which measures the relationship between sporting labour costs and club revenues.

Under the regulations, the club can remove the restrictions through shareholder funding or by generating credits through player sales.

Lazio confirm registration rules

Despite the breach, Lazio said in a statement that they had received confirmation from the independent commission responsible for assessing the ratio and could continue registering players in accordance with Article 90, paragraph 4, letter A of the FIGC's internal regulations.

The club did not comment on the reported €19.5 million requirement or indicate whether owner Claudio Lotito intends to provide additional funding. Lazio can also renew contracts expiring in June 2027.