Genoa have announced that Rapid Bucharest owner Dan Şucu is to take over the Serie A club after the Romanian businessman agreed to subscribe to the €40 million capital increase proposed by the club.

In a statement, Genoa confirmed that Şucu has agreed to buy a 77 per cent stake in the club and that previous owners 777 Partners will remain as minority shareholders.

Genoa said: “The proposal, structured and highly strategic, will allow the capital increase to be fully subscribed, providing the club with the necessary resources to strengthen its sporting ambitions.”

“New chapter”

The club added: “The change of ownership represents a new chapter for the oldest club in Italy, with the hope that the entry of Dan Şucu can bring economic stability and new investments for the strengthening of the team and infrastructure.”

Şucu is best known as the founder of Mobexpert, the largest furniture brand in Romania with over 2,200 employees. As Rapid Bucharest owner he has invested in the development of modern infrastructure and a youth academy, which today has around 700 young athletes.
 

Sportsbank nears agreement to acquire 45 per cent stake in Crystal Palace

According to a report from The Daily Mail, global investment firm Sportsbank is nearing an agreement to acquire a 45 percent stake in Crystal Palace from American businessman John Textor.

The deal, which is led by south London businessmen Zechariah Janjua and Navshir Jaffer, is reportedly valued at £230 million.

Sportsbank has been chosen as the preferred bidder by Textor in the competition for control of the Selhurst Park boardroom. With talks progressing to an advanced stage, sources close to the negotiations are optimistic that the deal could be finalized by February 2025.

Discussion on the structure of the deal

The specifics of the transaction are still under discussion, with the main point of consideration being whether Sportsbank will directly purchase Textor’s share in Crystal Palace or invest in Eagle Football Holdings, Textor's company that oversees not only Crystal Palace but also Botafogo, Lyon, and Molenbeek.

It is also noted that two other parties retain an active interest in Crystal Palace.
 

Everton takeover: Deal set to be announced today

The Friedkin Group (TFG), after reaching an agreement in September to buy Farhad Moshiri's 94 percent stake in Everton, is now on the brink of officially taking over the club.

The Athletic reports that the takeover is expected to be announced today, following the completion of regulatory approvals from the Premier League, Football Association, and Financial Conduct Authority.

Sources close to the situation have indicated that the final step is simply the confirmation that all official paperwork has been finalized.

Will attend on Sunday

TFG representatives are anticipated to be present at Everton's upcoming Premier League match against Chelsea at Goodison Park this Sunday to mark the occasion.
 

Manchester United urged to deliver 100,000-seater stadium to regenerate Old Trafford area

Manchester United co-owners Sir Jim Ratcliffe and the Glazer family have been challenged to deliver a new 100,000-capacity stadium that can transform the wider region.

As reported by The Daily Telegraph, the Old Trafford regeneration task force headed by Lord Coe met for a final time on Tuesday afternoon before submitting an “options report” to the owners.

Ratcliffe, Joel Glazer and his brother Avram are expected to spend the next month studying the task force’s recommendations and findings as the club prepares to make a final decision next summer on whether to build a new world-class ground or redevelop their existing Old Trafford home.

“Wembley of the North”

Coe and the task force spelled out how they believe a vision for a “Wembley of the North” could serve as the catalyst for an extraordinary regeneration project.

“Manchester United will now work together with local authorities to review the findings and agree a path forward in the months ahead,” Coe said. United are targeting a 100,000-capacity ground if they go down the new-build route.
 

LaLiga allocates €1.5 billion in TV distribution for 2023/24 as Barça overtake Real Madrid

LaLiga has released the breakdown of its TV rights income distributed to clubs for the 2023/24 season, with the Spanish league handing just under €1.5 billion to first and second division clubs, 6 per cent less than in the previous year.

Of the total amount, 90.2 per cent was distributed to top-flight clubs. FC Barcelona received the most with €162.5 million, overtaking Real Madrid, who received €159.6 million. Madrid have refused to participate in an incentive scheme designed to boost the appeal of LaLiga TV broadcasts.

The distribution system takes into account the sporting results of the last five years, as well as efforts to improve the attractiveness of broadcasts and boost ticket sales.

Real Sociedad get biggest increase

Third on the list were Atlético Madrid, with €117.9 million. Apart from newly promoted teams, Real Sociedad had the biggest increase in TV rights income, with their receipt rising 8.6 per cent to €70.7 million.

In the Spanish second division, RCD Espanyol received the highest figure, with €10.2 million, which when added to the €16 million for compensation for their relegation in 2022/23, totalled €26.3 million.
 

Sevilla FC cut ties with Real Betis over player celebration complaint

Sevilla FC have decided to officially sever ties with LaLiga rivals Real Betis after a complaint made by Betis following their derby clash in October led to one-match bans for three Sevilla players.

Betis reported to the governing bodies that Sevilla’s Isaac Romero, Juanlu Sánchez and José Ángel Carmona celebrated their 1-0 win on 6th October by displaying a flag featuring the Betis crest crossed out. Last week, the players were suspended for their game against RC Celta de Vigo on Saturday.

In a statement released yesterday, Sevilla said the club “has decided to cut ties” with Betis, adding: “The existing relationship simply cannot exist any further considering this act by the Real Betis Balompié board of directors, an act that sought to deliberately harm our club and our on-field performance.”

“Dangerous precedent”

Sevilla’s statement continued: “The behaviour of Real Betis Balompié's board of directors in reporting the celebration of our players, and doing so to federal bodies and not to the Anti-Violence Commission, breaks an important code and sets a dangerous precedent, seeking sporting punishments for non-sporting acts.

“In the context of a fierce derby match, in front of the home fans, it seems strange that Real Betis Balompié's board of directors interpreted the celebrations as an act that generates violence.”

NWSL set to add Denver team amid talks over $105-120 million expansion fee

The NWSL is in the final stages of adding Denver as the league’s 16th team, with an expansion fee of between $105 and $120 million being discussed, according to a report from Sportico.

Such a figure would be double the $53 million expansion fee that Bay FC and BOS Nation FC paid as the 14th and 15th NWSL teams, respectively.

The NWSL has been in the final stages of announcing the 16th team, set to join the league in 2026 alongside Boston, for the final part of the year. Cleveland and Cincinnati were the two other markets on the league’s shortlist.

For Denver FC group

Former women’s professional player Jordan Angeli has been involved with Denver’s bid from the outset. Last July, she formed the For Denver FC group, which announced its intent to bring a professional women’s team to Denver.

The ownership group now also includes Robert Cohen, chair and CEO of IMA Financial Group, who was also involved in a potential Denver WNBA expansion bid. The group has indicated it plans to build its own stadium and training facility but would expect to begin playing in a temporary venue.

A fresh attempt is to be made to form a European Super League after A22 Sports Management, the company behind the project, revealed plans to relaunch the competition as the ‘Unify League’.

In a statement outlining the plans, A22 said the 96-team league would be completely merit-based, in contrast to the original Super League proposal unveiled in April 2021, and would replace the Champions League, not domestic competitions.

The Unify League would be divided into four divisions — Star, Gold, Blue and Union — with 16 teams each in the first two and 32 each in the second two followed by a knockout phase. Teams would qualify each year via their domestic competitions.

A22 said the competition would be streamed via a branded ‘Unified’ platform, and would offer free, advertising-supported viewing of matches as well as “affordable premium subscriptions”.

CJEU ruling

A22 said it will submit the proposal to FIFA and UEFA, and believes the organisations will have no option but to give permission to the new competition after the European Court of Justice (CJEU) ruled last December that UEFA’s blocking of the initial plan was contrary to EU law.

Bernd Reichart, the CEO of A22, said: “Our extensive engagement with key stakeholders revealed a number of pressing challenges facing the sport including increasing subscription costs for fans, an overloaded player calendar, insufficient investment in women’s football, and dissatisfaction with the format and governance of the current pan-European competitions.”

He added: “Our proposal is designed to directly address these challenges.”

John Hahn, co-founder of A22, said: “We have listened intently to a broad group of clubs, leagues and fans and with these changes believe we have a lot of support. We are not expecting the public support of clubs at this time, logically that will come following the official recognition of the Unify League.”

LaLiga dismisses ‘Unify League’ proposal

LaLiga has reacted swiftly to yesterday's announcement by A22 Sports Management that it plans to relaunch the European Super League as the ‘Unify League’.

In a statement, the Spanish league said: “Once again, A22 has presented yet another model of the failed European Super League, now called Unify League.”

It added that it is “a project that threatens the governance of European football by seeking to follow a handful of big clubs for their own benefit, promoting a broadcast rights commercialization model that would benefit only a few elitist clubs and destroy the economy of national leagues.”

LaLiga concluded by saying “the project continues to lack support from clubs, federations, players, fans, national governments and European institutions.”

As yet, no club has commented on the plans for the Unify League announced by A22. The only two teams who have continued to publicly back the European Super League project following its initial launch in April 2021 are Spanish giants Real Madrid and FC Barcelona.

UEFA and ECA insiders raise doubts

Meanwhile, The Times has reported that UEFA insiders insist there is almost no chance of the Unify League replacing the Champions League, with one senior figure describing the latest plan as “bullshit” and a “Christmas pantomime”.

According to the report, insiders at the European Club Association (ECA) have also raised doubts about the viability of the proposal, saying no business plan had been submitted on how A22 proposes to fund the new league.

The Unify League would need to pass four tests — administrative and financial, sporting and technical, ethical, and sporting merit — to be approved. Having sporting merit approved would mean securing the agreement of European Leagues and the ECA, both of which have been strongly opposed to the concept.

Al-Khelaifi and Textor text exchange reveals how relationship reached breaking point

An icy text message exchange between Paris Saint-Germain and Lyon owners Nasser Al-Khelaifi and John Textor this summer has been revealed by L’Equipe which appears to shed new light on how the pair’s relationship reached breaking point.

The series of messages, reportedly sent by the two men on 12th July, was sparked in part by PSG’s quest for Lyon’s 21-year-old French midfielder Rayan Cherki but also by the LFP’s bidding process for the latest domestic broadcast rights deal.

According to the L’Equipe report, Textor asked Al-Khelaifi to speak to him in relation to the media rights process, mentioning he was being kept in the loop through Lyon CEO Laurent Prud’homme. Al-Khelaifi is said to have replied: “You should know your guy knows nothing about TV rights, have a good day.”

Angry texts

After a series of further angry texts, Al-Khelaifi told Textor he has no intention of talking to him or even seeing him again. “Learn how to run a club and media, this is the last time I let you talk to me”, he reportedly said.

Textor replied that he was comfortable with this, adding: “You always say that you save everyone, which is just megalomaniacal behaviour.” Al-Khelaifi then ended the exchange by declaring: “You don’t understand anything about football and I’m wasting my time talking to you. You’ll lose wherever you go.”

Brest receive planning permission for new 15,000-capacity stadium

Brest have received planning permission from the city’s authorities to build a new stadium named Arkéa Park, which will have a capacity 15,000, roughly the same as their current home, the Stade Francis-Le Blé.

The Ligue 1 club have faced various issues this season after qualifying for the Champions League and have not been allowed to play any of their European games at the Stade Francis-Le Blé, instead playing at local rivals EA Guingamp’s Stade du Roudourou.

Brest currently receive exemptions from the LFP to play their Ligue 1 matches at the Stade Francis-Le Blé but in a statement said that renovating the stadium would prove to be more costly and less beneficial than constructing the new Arkéa Park.

“Structural problems”

In their statement, Brest said: “Renovating Le Blé would not only have been ineffective: it would not have solved the structural problems of parking, traffic jams, and the impossibility of developing services, linked to the limited land situation in the city centre.”

The club added that the budget for the new stadium is set at €106 million, “financed mainly by private money, with the participation of public authorities”.

Vancouver Whitecaps owners put MLS club up for sale

Vancouver Whitecaps are set to become just the fourth MLS club to be sold after their formation, with the Canadian side confirming that their current ownership group has put the team up for sale.

In a statement the club said the decision taken by owners Greg Kerfoot, Steve Luczo, Jeff Mallett and Steve Nash came “after careful consideration of the club's journey and reflection on what is required to ensure its continued growth and success.”

It added: “The current ownership has built a solid foundation for Whitecaps FC – it is the right time for an owner with the platform, resources and ambition to enhance the club’s ability to compete at the highest levels of MLS and steward the club in realising its significant potential.”

Three MLS teams sold

So far, only three MLS teamshave been sold after formation: Real Salt Lake, Houston Dynamo and Orlando City SC. The Whitecaps were founded in 2009 and joined the MLS in 2011.

No asking price for Vancouver has been released, although they reportedly paid $40 million to join the league. MLS expansion club San Diego FC, who are set to begin playing next season, reportedly paid a US$500 million expansion fee to join the league.

Real Madrid have spelled out their commitment to a restructuring of the Champions League in which the clubs not UEFA are in control – essentially a European Super League 2.0.

The Madrid CEO José Ángel Sánchez, who rarely speaks in public, has taken part in a Harvard Business School (HBS) case study – seen by The Guardian – in which he explains why he feels change is essential and highlights how the club are doubling down on their position.

Sánchez, who is the right-hand man of club president Florentino Pérez, likens UEFA to the musicians on the Titanic, playing on despite impending doom, and also compares the 15-times European champions to Asterix’s fictitious village, holding out against the Roman invaders.

“We have to change the system”

“If we want to preserve football’s leadership position in the sport and entertainment industry, we have to change the system,” Sanchez said. “The system as we know it is over – we need to organise things differently in the industry. That was the rationale behind the Super League and it is even more pressing now.”

Sánchez said Madrid would “keep working on the execution of the idea”. It is unclear what that involves or whether they have the support of other leading clubs. FC Barcelona are the only other club publicly clinging to the idea that the Super League concept could be revived.

Liga MX head Rodríguez resigns after clubs reject $1.25 billion investment deal

Juan Carlos Rodríguez has resigned as the commissioner of Liga MX and president of the Mexican Football Federation (FMF) after failing to get support from Liga MX owners for his proposed investment strategy for the league.

Rodríguez had pushed for a $1.25 billion investment deal with New York-based Apollo Global Management that would have involved pooling the Mexican league’s broadcast and some commercial rights. Clubs currently sell their own rights independently.

However, at a meeting on Friday Liga MX club owners rejected the proposal and no vote was taken, which would have needed unanimous support from all 18 teams to go ahead.

Mikel Arriola to be interim commissioner

The FMF released a statement after the meeting saying that Rodriguez had resigned due to “personal reasons.” It also announced that Liga MX president Mikel Arriola will be the league’s interim commissioner.

The statement read: “The assembly requested the interim commissioner to form a committee of 10 teams in January to continue negotiations with the investment fund, with a special emphasis on strengthening the corporate governance, and move forward with the transformation project for our football.”

Manchester City have reported club-record turnover of £715 million and a profit of £73.8 million for the year ending 30th June, 2024.
The figures follow revenues of £712.8 million and a profit of £80.4 million in 2022/23.

City won a record fourth straight English top-flight title last season and have been crowned Premier League champions in six of the last seven years. In 2022/23 they also won the Champions League and FA Cup to complete a treble-winning campaign.

Broadcast income for 2023/24 amounted to £294.7 million, compared with £299.4 million the previous year. Of the total figure, £104.6 million came from UEFA, down from £113.9 million in 2022/23, while £190.1 million came from the Premier League and all other competitions, up from £185.6 million.

Commercial revenue rose to £344.7 million, following the previous year’s figure of £341.4 million, while matchday income climbed to £75.6 million, up from £71.9 million, despite City playing five fewer home matches than in the previous season.

Player sales reach record £139 million

City’s finances were further boosted by record player trading profits of £139 million, up from £121.7 million. The club noted it has now made over £405 million in player sales over the last five years.

The player trading was key to achieving the overall profit for the year, with City making an operating loss of £60.5 million, which followed the previous year’s operating loss of £35.6 million. The club’s total wage bill was £412.6 million, down from £422.9 million in 2022/23.

Genoa take step towards new ownership with approval of €40 million capital increase

Genoa have taken a further step towards finding new owners within the next few weeks after a proposed capital increase of €40 million was approved at the Serie A club’s shareholders' meeting on Saturday.

The option is not available to current shareholders and must therefore be completed by an external party. The move follows the collapse of majority shareholder 777 Partners' multi-club ownership portfolio earlier this year.

As reported by Italian media, whichever party subscribes to the capital increase, which must be made by 15th January, will become the club’s new owners.

777 co-founders’ exit from Geona board confirmed

The approval of the capital increase also confirmed the departure from the Genoa board of directors of 777 co-founders Josh Wander and Steve Pasko and vice president Adam Weiss.

The board is now composed of CEO Andres Blazquez, president Alberto Zangrillo, general manager Flavio Ricciardella and non-executive director Alessandro Giudice.

Blazquez declined to answer reporters’ questions about who might carry out the capital increase, but did not rule out the possibility of it being completed by US insurance firm A-Cap, which is 777’s largest creditor and has taken over the management of the Miami-based group’s football clubs.

The Union of European Clubs (UEC), in a press release, has expressed "deep concern" over comments made by Nasser Al-Khelaifi, Chairman of the European Club Association (ECA), regarding domestic football competitions.

Al-Khelaifi's has in an interview with MARCA suggested that "20-team national leagues" contribute to increasing player workload, a stance the UEC views as an attempt to justify more international fixtures for elite clubs at the expense of domestic leagues.

According to the UEC, this narrative echoes the ambitions of Al-Khelaifi's predecessor, Andrea Agnelli, who advocated for shrinking domestic leagues to accommodate more international club matches, leading to the SuperLeague project. Despite Al-Khelaifi's opposition to the SuperLeague, his recent statements imply a continuation of similar objectives.

Strength lies in national leagues

The UEC believes that the strength of European football lies in its national leagues and warns that prioritizing elite clubs' interests could exacerbate financial disparities and harm sporting merit.

The organisation challenges the notion that international tournaments are essential for football's global growth, pointing out that domestic leagues already significantly contribute to the sport's popularity.

The UEC invites Al-Khelaifi to reconsider his remarks and urges stakeholders to defend the significance of domestic competitions to maintain European football's integrity and accessibility.

Berlusconi family seeking buyer for AC Monza

The Berlusconi family, under the banner of their holding company Fininvest, is actively seeking a partner or buyer for the Italian football club AC Monza.

Pier Silvio Berlusconi, a shareholder and board member of Fininvest, disclosed this intention during a press briefing, as reported by Reuters. The family has owned the club since 2018, when they acquired it while it was in Italy's third-tier league for a reported sum of €3 million.

According to Pier Silvio Berlusconi, the objective is to find someone who can manage AC Monza with the same level of care and commitment that the family would provide, acknowledging that "soccer is a crazy world nowadays." This search for new ownership or partnership comes after rumors intensified following the death of former Italian Prime Minister Silvio Berlusconi in June 2023.

Significant increase in revenue

AC Monza, guided by former AC Milan executive Adriano Galliani, achieved promotion to Serie A for the first time in 2022. However, the team is currently facing challenges in the top flight, sitting at 19th place in the league standings.

Despite these struggles on the pitch, AC Monza's revenues have seen a significant increase, more than doubling to €68.3 million in 2023, although the club also reported a loss of €60.3 million for the same year.

UNFP criticises LFP's decision on Mbappé's financial dispute with PSG

The National Union of Professional Footballers (UNFP), the representative body for football players in France, has strongly criticized the decision by the LFP disciplinary committee regarding Kylian Mbappé's financial dispute with Paris Saint-Germain (PSG).

The LFP deemed Mbappé's request for payment "inadmissible" on Wednesday, a stance that the UNFP finds unacceptable and is urging the League to uphold its regulations.

According to the UNFP, the main issue at hand is the enforcement of the LFP's own rules and the decisions made by its commissions.

Claims €55 million

The dispute began when Mbappé approached the LFP legal committee in September, claiming PSG owed him nearly €55 million in salaries and bonuses after his contract ended. The committee ruled in favor of Mbappé, a decision that was later upheld by the LFP's joint appeal committee on October 25. Despite these rulings, PSG refused to pay and subsequently took the matter to court in Paris.

The situation escalated when the LFP's disciplinary committee met with both parties and declared Mbappé's referral to obtain his due as "inadmissible." The UNFP has expressed its readiness to collaborate with the LFP to combat what it perceives as a concerted effort by clubs to limit the League's regulatory authority as much as possible.

FIFA has confirmed that the 2034 World Cup will be held in Saudi Arabia, while the 2030 World Cup will be co-hosted by Spain, Portugal and Morocco, with the opening three matches in South America.

Both bids were uncontested and ratified at an online FIFA Congress yesterday. Saudi Arabia emerged last year as the sole bidder for the 2034 World Cup in a controversial process.

FIFA combined the decisions on the 2030 and 2034 tournaments into a single vote, meaning delegates either supported or opposed both bids, with no separate vote available.

Six countries in three continents

FIFA Congress also ratified the centenary 2030 World Cup, which will be held across six countries in three continents, with the opening three games taking place in Argentina, Paraguay and Uruguay.

The decision to award Saudi Arabia hosting rights in 2034 is highly controversial, with critics arguing it is an effort to 'sportswash' the authoritarian regime's reputation as it hosts the tournament for the first time.

Manchester City and Chelsea set for £60 million boost from Club World Cup TV deal

Manchester City and Chelsea are in line to net summer windfalls of up to £60 million following FIFA’s signing of a $1 billion Club World Cup TV deal with DAZN, according to a report from The Daily Mail.

FIFA announced the global free-to-air broadcast deal with the UK-based streaming platform last week ahead of the draw for the 2025 Club World Cup.

It is understood that while no final decision has been made, both City and Chelsea have been told to expect between £50 million and £60 million from their participation in the tournament, which is due to take place in the US next summer.

Larger share

It is expected the major European clubs will be handed a larger share from the pot than other clubs in the competition, which some believe is a move aimed at ensuring they treat it seriously and play most of their big names amid concerns over player burnout.

In total, 12 European sides will feature, including Bayern Munich, Paris Saint-Germain and Juventus.

Sheffield United takeover: Prince Abdullah puts sale on hold as club eyes promotion

Sheffield United owner Prince Abdullah has reportedly put the sale of the EFL Championship club to an American consortium on hold in the hope of cashing in if they are promoted to the Premier League this season.

Abdullah agreed a £105 million sale to US investors Steven Rosen and Helmy Eltoukhy last summer after relegation, and the English Football League approved the proposed takeover last week.

However, according to The Guardian, Abdullah is refusing to complete the sale, with sources close to the deal saying the Saudi Arabian businessman is anticipating a huge windfall in the event of promotion. EFL sources indicated they are aware of the delay.

Bonus payments

United have been in the automatic promotion places in the EFL Championship for much of this season and promotion would significantly increase the club’s value, with Brentford on the market for £400 million, for example.

The existing takeover deal contains clauses providing bonus payments for Abdullah if United are promoted after completion. He is now said to be seeking to negotiate bigger bonuses and some sources have suggested he may not sanction the deal while promotion remains a possibility.

LaLiga wins €47 million media rights case against China’s Super Sports Media

LaLiga has won a long-running legal battle against Chinese sports marketing company Super Sports Media over missed media rights payments in the post-pandemic period, Spanish media have reported.

The complaint relates specifically to the 2021/22 season, when the firm failed to make an agreed payment of €45 million for the rights to show matches in China, prompting LaLiga to file lawsuits in both China and Spain in 2022.

Super Sports Media and its partner Wuhan Dangdai Science & Technology Industries Group are now due to pay €47 million to the Spanish league for the missed payments and around €2 million in interest and other costs.

Unlikely to receive full amount

Sources have told SportBusiness that LaLiga is highly unlikely to receive the full amount, although the ruling from the Wuhan Intermediate Court, delivered in May but only now made public, could serve as an important precedent to deter missed payments to rights-holders in the future.

LaLiga’s deal with Super Sports Media had been one of its most valuable overseas rights agreements. It was initially due to run from 2019/20 to 2024/25, but was renegotiated in 2020 and extended until 2028/29.

KMSK Deinze declared bankrupt amid failed takeover and spiralling debts

Deinze have been officially declared bankrupt following a disastrous takeover last month which led to the Belgian second division club being unable to pay players or staff amid spiralling debts.

As reported by Belgian media, the club’s bankruptcy was confirmed by the Ghent Enterprise Court yesterday and comes after the Luxembourg-based AAD Invest Group acquired ownership of the team at the beginning of November.

New owner and investor Doudou Cissé vowed to take on the debts of the previous owner – Singapore-based group ACA Football Partners (ACAFP) – but failed to produce the required funds, while also proving unable to pay players or other staff despite repeated promises.

Two-point deduction

As a result, Deinze were handed a transfer ban and two-point deduction imposed by the Belgian FA’s license committee, while players went on strike and moved to other clubs, and unpaid suppliers and creditors went to court.

Two weeks ago, Deinze could not demonstrate they had the means to pay off their debts, and while it was expected Cissé would relinquish his shares, this did not happen, leading to yesterday’s court verdict.

UEFA rejected legal advice that it had grounds to appeal after Manchester City were cleared of financial rule breaches by the Court of Arbitration for Sport (CAS) four years ago, it has emerged.

According to The Independent, external lawyers proposed an appeal to the Swiss courts as UEFA’s best response to City's victory at CAS in July 2020, which got their Champions League ban lifted.

The revelation that UEFA was advised there were grounds to appeal may give encouragement to the Premier League, which is prosecuting City for 130 alleged rule breaches based on similar evidence in a hearing that concluded last week. City have denied any wrong doing.

"Serious breach" of regulations

CAS overturned a two-year Champions League ban for City imposed by UEFA for a "serious breach" of its regulations. The legal opinion advising that an appeal was possible was sent to UEFA in August 2020 outlining its possible options following the CAS judgement.

The CAS verdict had been delivered in July 2020 following City's appeal against the punishment imposed by UEFA’s Club Financial Control Body (CFCB) five months earlier.

FIFA considering US as hosts for 2029 Club World Cup

The Club World Cup could be hosted by the United States for a second consecutive time as FIFA considers taking the tournament back there in 2029, according to a report from The Athletic.

The US will host the inaugural edition of the expanded 32-team Club World Cup next summer, before hosting the men’s FIFA World Cup in 2026. The decision to award the US with the 2029 Club World Cup would have to go through the FIFA Council and that is yet to happen.

Last week, FIFA announced a global $1billion free-to-air broadcast deal with DAZN for the 2025 Club World Cup and then conducted the draw for the tournament at an event in Miami.

American sponsors

Part of the thinking behind taking the Club World Cup back to the US in 2029 is that it would enable FIFA to consolidate American sponsors for the tournament, as well as having a legacy event following the 2026 men’s World Cup.

However, the US will likely face competition from other countries to host the 2029 Club World Cup. Football Australia CEO James Johnson told the Sydney Morning Herald back in June 2023 that he would consider bidding for the tournament’s hosting rights.

Cardinale looks to continue AC Milan ownership and refinance Elliott debt

AC Milan owner Gerry Cardinale plans to keep hold of the club for the foreseeable future and is working to refinance the debt owed to previous owner Elliott Management, La Gazzetta dello Sport has reported.

When Cardinale took over the club from Elliott back in August 2022 through his firm RedBird Capital Partners, only €650 million of the €1.2 billion agreed for was paid, and the rest was financed via a vendor loan.

It means that Cardinale must still pay €550 million to Elliott plus the interest owed, taking the amount to be repaid to €693 million, which is due to be settled through a bullet payment by August 2025.

Efforts to postpone deadline to 2028

Elliott would regain control of the club if the debt with RedBird isn’t repaid. However, efforts are said to be underway to postpone the deadline to 2028, along with discussions over the interest rate.

Cardinale is also thought to be looking for investors who could join him and contribute to settling the sum, rather than to acquire Milan or a large share of the club.

Lazio ready to present new stadium plans to Rome city officials

Lazio are looking to progress their long-awaited plans for a new stadium, with the club’s president Claudio Lotito set to request a meeting with the Municipality of Rome to formally present the project, according to a report from Il Corriere dello Sport.

The Serie A club are eager to have their own ground, rather than continue to share the Stadio Olimpico with arch-rivals AS Roma, and have identified the currently defunct Stadio Flaminio as the best option on the table.

It is understood the technicians appointed by Lotito have now completed the pre-feasibility project to be presented to the Municipality, and a formal meeting with city officials could take place this week.

Boost to finances

Lazio believe owning a stadium will be instrumental to boosting their finances, following in the footsteps of the likes of Juventus, Udinese and Atalanta. The Stadio Flaminio project is also said to have an “architectural and organisational value”.

Following the preparatory work done in recent months, Lazio have already made it known to the Municipality they are ready to outline the plans, and are looking to arrange a meeting with the mayor of Rome Roberto Gualtieri and councillor for Sport Alessandro Onorato.

Paris Saint-Germain president Nasser Al-Khelaifi has dismissed suggestions a European Super League is set to be launched following recent reports claiming that a fresh attempt to introduce a new competition was underway.

Mundo Deportivo reported last week that talks had been held with over 100 clubs over a new Super League format, and that around 60 had expressed their willingness to participate in the project in a structure centred around three divisions.

However, in an interview with Spanish newspaper Marca, Al-Khelaifi –who is also chairman of the European Club Association and a member of the UEFA Executive Committee – was adamant when asked if the Super League will ever become a reality.

“It has never existed”

“No, it does not exist,” the Qatari businessman said. “In fact, it has never existed, except in the minds of a few who are mistaken. … No one will support such a project: neither fans, nor players, nor media, nor governments, nor clubs.”

Taking aim at Real Madrid and FC Barcelona, the two clubs still officially engaged in the Super League project, he added: “You know that only two clubs support it. I hope they will realise their judgment error one day and return to the European football family.”

Sheffield United takeover moves closer as US group claims EFL has cleared deal

The proposed takeover of Sheffield United appears to have moved a step closer after the American consortium behind the deal said the buyout has been approved by the English Football League (EFL).

In a statement seen by Bloomberg, businessmen Steven Rosen and Helmy Eltoukhy said they had signed an agreement with the EFL Championship club's owner Prince Abdullah bin Abdul Aziz Al Saud, on behalf of a group of investors.

According to the statement, the consortium, COH Sports, has received full clearance from the EFL.

Swift conclusion

Rosen and Eltoukhy said a swift conclusion to the deal will allow the team to buy new players in the January transfer window. “Like all Sheffield United supporters, we want to see the club building on its strong start to the season,” they said. “We look forward to moving forward to completion as soon as possible.”

United, who are currently top of the Championship, are seeking an immediate return to the Premier League after last season’s relegation.
In a brief statement, Sheffield United chairman Yusuf Giansiracusa said: "We are pleased to hear that COH Sports has finally received EFL approval."

Genoa move towards new ownership with proposed €45 million capital increase

Genoa could be on course for a transition to new ownership in the coming weeks following the collapse of majority shareholder 777 Partners' multi-club ownership portfolio earlier this year.

According to Italian media, a proposed capital increase of €45 million, with €40 million to be injected externally, is due to be discussed at the Serie A club’s shareholders' meeting this Saturday.

As reported by La Repubblica, whichever party subscribes to the planned capital increase will become the club’s new majority shareholder.

European entrepreneur

Speculation of Genoa’s potential new owners has indicated it may be a European entrepreneur with no previous interests in football, with some reports hinting it could be Bernard Arnault, the French luxury tycoon who recently bought a majority stake in French Ligue 2 club Paris FC.

At present, 777 co-founders Josh Wander and Steve Pasko are still officially on the Geona board of directors, but the proposed capital increase would confirm their departure.

AFC Bournemouth owner Bill Foley 'made takeover bid for Shamrock Rovers’

Bill Foley, the American owner of AFC Bournemouth, reportedly made an offer to buy Shamrock Rovers before withdrawing his interest amid growing turmoil behind the scenes at Ireland’s biggest club.

The Irish businessman Dermot Desmond, who owns a 25 per cent stake in Rovers, has revealed in internal documents seen by The Sunday Times that the club provided information to a potential investor.

According to the documents, this “led to a non-binding offer to acquire an interest in the club being received from the third party in June 2024. Due to concerns about potential shareholder dilution and club valuation, the third-party offer was not progressed.”

Internal infighting

The Sunday Times has established that the offer came from the Black Knight group led by Foley, who acquired Bournemouth back in December 2022 and has significant minority stakes in Hibernian and FC Lorient among others.

Foley’s interest is believed to have dimmed because he wants to push Bournemouth into Europe, which would conflict to a degree with Rovers, while the bitter internal infighting at the west Dublin club was also said to be a negative factor.

Brazil extends Nike kit deal to 2038 in deal ‘worth $100 million per year’

The Brazilian Football Confederation (CBF) has announced an extension of its kit sponsorship deal with Nike by a further 12 years, taking the long-standing partnership to 2038.

A source familiar with the agreement told The Associated Press that the new contract, which comes into force in January 2027, will be worth €94.7 million per year.

In a statement, the CBF, whose partnership with Nike began back in 1996, said that for the first time it will also be entitled to royalties from the sale of the Brazilian national team's shirts, which it said “will significantly impact the value of the contract from now on.”

Right to license products

The CBF said it will also have the right to license products and will be able to open stores globally. Nike kits are worn by Brazil’s men’s and women’s teams of all ages, as well as by its beach football and futsal teams.

In March, Nike signed a deal with the DFB to replace Adidas as the provider of apparel and equipment for the German national teams from 2027 to 2034. Other national teams sponsored by Nike include Australia, Croatia, England, France, Nigeria, Poland, Saudi Arabia, and South Korea.

Sir Jim Ratcliffe has said Manchester United are no longer an “elite” club after becoming “mediocre” and believes he faces a big task to address the “inertia” at Old Trafford.

In an interview with fanzine United We Stand, the club’s co-owner criticised the “poor” recruitment at the club before he came in and took charge of football operations by claiming the club’s data analysis department is stuck in the last century.

“There is major change to come to achieve elite status,” he said. “But already there has been huge change at this club. It’s not easy and it's not quick. It's a complicated problem and because it has been going for such a long time in this direction, that’s a lot of inertia that has built up in the organisation. Trying to turn what has been relatively mediocre into an elite, top team, is a big task.”

Ticket price increases

Ratcliffe has made around 250 members of staff redundant and has raised some ticket prices at Old Trafford to £66, drawing protests from supporters. But he said he had to run the club, which posted a net loss of £113.2 million for 2023/24, more like the businesses in which he has made his fortune.

“We can't run a business in loss which is where United have been in the last couple of years – losing money,” he said. “If you're losing money then you have to borrow from the bank to pay for the losses. Eventually that becomes unsustainable.”

Bayern Munich reach a record turnover despite a trophyless season

Bayern Munich have achieved another significant financial milestone with a record-breaking turnover in 2023/24.

Including player sales, the German giant reached a turnover of €951.5 million (€854.2 million in 2022/23). When basketball and other subsidiaries are included, Bayern surpassed €1 billion in revenue, as announced by Chairman Herbert Hainer during the general meeting of the member-owned club.

Income from player transfers stood at €186.1 million, meaning that turnover excluding player sales is €765.4 million compared to €744 million the previous year.

Profit before tax saw a 15 percent increase to €62.7 million but fell short of the club's record of €75.3 million set in the 2018/19 season.

"We are not only reaching a new record but also a new dimension, which Bayern has never entered before," Hainer expressed, highlighting the club's unprecedented financial success.

Season without a trophy

Despite these financial triumphs, CEO Jan-Christian Dreesen emphasized that the absence of silverware last season was a disappointment.

"This outstanding annual result shows that we continue to be one of the absolute top clubs in Europe in economic terms," Dreesen stated.

"At the same time, however, it should not obscure the fact that we were not satisfied with a season without a trophy." This sentiment reflects Bayern Munich's commitment to excellence both on and off the pitch.

The club also announced they were retiring a shirt number for the first time, withdrawing the '5' worn as a player by former captain, coach and president Franz Beckenbauer, who died in January.

Manchester United sporting director Dan Ashworth leaves club after five months

Manchester United have announced the departure of sporting director Dan Ashworth after just five months in the role.

In a brief statement issued yesterday morning, the club said he “will be leaving … by mutual agreement”. Media reports have suggested the move was instigated by United, with co-owner Sir Jim Ratcliffe said to be pivotal to the call to part ways.

Several media wrote that Ashworth's exit was agreed in a meeting with CEO Omar Berrada at Old Trafford following the club's 3- home defeat by Nottingham Forest on Saturday evening.

According to the report, Ashworth's transition to United “has not been smooth”, with his role at the club not thought to have worked in tandem with Ratcliffe's hierarchy, which is led by Sir Dave Brailsford and Berrada.

Heavy transfer spending

Ashworth arrived at Old Trafford in July after a long period of gardening leave at Newcastle United. He was involved in a busy summer of heavy spending as Manuel Ugarte, Leny Yoro, Noussair Mazraoui, Matthijs de Ligt and Joshua Zirkzee all arrived for around £200 million.

However, according to Manchester Evening News Ashworth was not in favour of appointing Ruben Amorim as the new head coach. The media say that Ashworth was not even involved in the process of selecting Amorim and that he recommended a move for former England manager Gareth Southgate, with whom he worked at the Football Association between 2013-18.

FC Barcelona target new ‘economic lever’ with €200 million VIP seats deal

FC Barcelona are in talks over the sale of VIP seats at the revamped Camp Nou for the next 20 years in a move expected to generate fresh income of around €200 million, Spanish media have reported.

The new ‘economic lever’ is intended to provide a further boost to the Catalan giant’s finances ahead of the January transfer window and follows the signing of a new kit sponsorship deal with Nike reported to be worth €127 million per year.

That agreement, announced last month, was still not enough for Barça to comply with LaLiga’s ‘1-1 rule’, which allows clubs to spend €1 for every €1 they make in revenue or save in salaries.

Sixth Street involved in talks

A number of top European clubs have sold VIP seats over recent months, including Real Madrid, who have reportedly brought in €250,000 per seat. Real Madrid worked with Sixth Street on their sale, and the US firm is also said to be involved in the discussions at the Camp Nou.

It is understood that several parties, including a Qatari group, are interested in buying the whole VIP package offered by Barça. Negotiations are believed to be at the final stage and a deal is expected to be completed ahead of the January window.

Vitesse Arnhem in talks with five potential takeover candidates

Vitesse Arnhem general manager Edwin Reijntjes has said the troubled Dutch club is in discussions with five interested parties over a potential takeover.

In a club statement, Reijntjes said: "We are in talks with five parties about a possible acquisition. Two of the five are more concrete and are located in the so-called 'data room'. Based on our figures and data, those parties are investigating whether Vitesse is a feasible option for them.”

Vitesse had previously set 15th December as the deadline for making a decision over which party or parties it would follow up with. Reijntjes added: “I cannot reveal more information about the candidates … I don't expect to be able to do this after the 15th. We are still in too 'sensitive a process'.”

21-point deduction

Last month, Vitesse were hit with a new 21-point deduction by the Dutch FA (KNVB) after breaking its licensing rules on four occasions. It followed an 18-point penalty last season, confirming their relegation to the Dutch second-tier, and a further six-point deduction this campaign.

The club must submit their annual accounts for 2023/24 and provide the required data for 2024/25 by 12th December. "Although all documents are in the final phase, we – and especially accountants BDO – are working hard to meet the set deadline,” Reijntjes said. “I am positive about that.”

Charlton Athletic taken to High Court over alleged £0.5 million unpaid debt

Charlton Athletic are being taken to the High Court over an alleged £0.5 million debt owed to Paul Elliott, a Manchester-based businessman who attempted to buy the southeast London club in 2020.

As reported by The Times, the claim, filed on 29th November, alleges that Elliott lent the club the sum after agreeing to purchase Charlton from the majority shareholder at the time, East Street Investments (ESI).

The loan is said to have subsidised player and staff wages and other running costs to avoid the club going into administration and receiving a points deduction that would guarantee their relegation to League One.

Failed EFL owners’ and directors’ test

The new claim is central to one of the most chaotic and controversial periods in Charlton’s history. Elliott’s consortium failed the EFL’s owners’ and directors’ test, and the Danish entrepreneur Thomas Sandgaard acquired the club from ESI in September 2020.

Charlton were sold again in 2023 to SE7 Partners. The club said they were aware of the claim, which they stressed was related to the previous ownership, and have now referred it to their lawyers.

The hearing over Manchester City’s alleged breaches of Premier League rules is drawing to a conclusion, with an outcome anticipated in February, The Independent has reported.

Lawyers have been making closing arguments this week, and although there is the possibility of delays the case has gone to schedule so far. The hearing is seen within the Premier League as having been run in a highly disciplined manner.

There is said to have been a considerable will within the league to have it finally settled this season, but the likelihood of appeals from either side could mean it runs into the 2025/26 campaign.

129 alleged breaches

The hearing comes from the February 2023 announcement that City had been charged over 129 alleged breaches of financial control rules, after emails were revealed in Der Spiegel's Football Leaks cache in November 2018.

City robustly insist upon their innocence and announced their “surprise” when they were referred to the independent commission last February.

New European Super League plans: ‘60 clubs ready to join’

Fresh speculation has emerged about a new attempt to launch a European Super League, with a report from Mundo Deportivo suggesting that talks have been held with over 100 clubs over a new format.

Of those, the report claims that around 60 have expressed their willingness to participate in the project in a structure centred around three divisions.

The ‘Star Division’ would feature 16 elite clubs from Spain, England, Italy, Germany and France, along with top teams from Portugal and the Netherlands.

The second-tier ‘Gold Division’ would also be expected to have 16 clubs, while the third-tier ‘Blue Division’ would feature 32 teams, with an annual relegation of 20 clubs.

Champions of national leagues

According to the report, some clubs have proposed that the champions of national leagues should qualify for the Star Division, regardless of their overall stature. For instance, if Lille were to win Ligue 1, it would earn a spot in the top tier. It is understood this aspect is still under discussion.

Organisers are said to be confident that not only Real Madrid and FC Barcelona will join, but also other clubs that initially supported the idea before withdrawing later on, and that the tournament could potentially begin in September 2025 or 2026.

Sevilla post €81.7 million loss for 2023/24

Sevilla have reported a €81.7 million loss for the year ending 30th June, 2024, raising fresh concerns about the club’s financial position.

The figure is the LaLiga club’s biggest loss in a decade and follows losses of €19.3 million in 2022/23, €24.8 million in 2021/22 and €41.4 million in 2020/21.

Turnover fell by 21 per cent to €176.8 million in 2023/24, down from €224.6 million the previous year, primarily due to a drop in UEFA prize money after the club won the Europa League in 2022/23.

There was also a sharp decline in the club’s profit from player sales, which fell to €5.3 million, compared with €34.9 million in 2022/23.

Operating loss climbs to €80.9 million

As for expenses, Sevilla’s wage bill was €159 million, down from €175 million in 2022/23, while amortisation costs were €45.7 million, compared with €49.8 million the previous year.

The figures resulted in an operating loss of €80.9 million, up from €49.8 million in 2022/23. The accounts show that despite cutting their wage bill and amortisation costs, the gap caused by the club’s big drop in turnover resulted in the huge operating loss.

Juventus hearing: 200 civil party applications filed

Around 200 civil party applications have been filed at the preliminary hearing as part of the proceedings that opened yesterday in Rome against the former top management of Juventus, Italian media have reported.

The requests, which will now be examined by the Rome preliminary hearings judge (GUP) Anna Maria Gavoni, have been made, among others, by the Italian financial markets regulator CONSOB, as well as shareholders, investment funds and consumer associations.

The case follows an investigation into alleged irregularities in Juventus’ salary payments to players, and accusations of false accounting in relation to capital gains from player transfers.

Case moved to Rome

The investigation into the club’s accounts was initially launched by Turin prosecutors before the case was moved to a court in the Italian capital.

There are 12 suspects, among them former president Andrea Agnelli as well as other former directors Pavel Nedved, Maurizio Arrivabene and Fabio Paratici. Juventus and the individuals under suspicion have previously denied any wrongdoing.

Bundesliga media rights up 2 per cent to €1.1 billion per year

The DFL has announced that the Bundesliga media rights for the next cycle have been sold for just under €4.5 billion, equating to €1.1 billion per year.

The figure, covering the cycle running from 2025/26 to 2028/29, marks a 2 per cent increase in the value of the rights for German football’s top two divisions.

The DFL confirmed that Sky and DAZN will be the league’s main broadcast partners once again, while free-to-air commercial broadcaster Sat.1 has secured live rights including the season opening of the Bundesliga and 2. Bundesliga, the relegation play-off and the Supercup.

Package B to remain with Sky

The controversial Package B, which includes matches played on Friday evenings and Saturday afternoons and comprises 196 matches per season, will remain with Sky for the next four seasons.

The confirmation of the new media rights agreements concludes a protracted tender process after DAZN filed a lawsuit in April challenging the DFL's initial awarding process over Package B.

Friedkin Group in talks with JPMorgan over Everton debt sale

Everton’s prospective new owner the Friedkin Group is in talks with JPMorgan Chase about raising debt to help restructure the club’s current loans, which total over £660 million, according to a report from the Bloomberg.

Run by US billionaire Dan Friedkin, the Friedkin Group agreed to buy Everton in September and the deal is awaiting regulatory approval. The takeover is expected to be finalised in the coming weeks.

Once completed, the Friedkin Group will look to simplify Everton’s complex capital structure. The proposed arrangement with JPMorgan would potentially help reduce interest payments and stretch the club’s debt over a more manageable timeframe.

MSP Sports Capital debt

It is understood the Friedkin Group has already covered a £140 million debt to MSP Sports Capital, and has loaned £110 million to cover the day-to-day running of the club.

Bloomberg also reported that after the Friedkin Group assumes control, it will take on £150 million owed to lender Rights and Media Funding, and a further £200 million owed to 777 Partners. There is also debt linked to the club’s new stadium at Bramley-Moore Dock.