Lyon owners Eagle Football Group have announced a series of urgent measures to raise new financing for the Ligue 1 club over the coming months after it reported a net loss of €25.7 million for the year ending 30th June 2024.

The figure follows the loss of €99 million suffered the previous year and came despite total revenues, including player sales, rising to €361.4 million, up from €289.7 million in 2022/23.

A key driver of the reduced losses were asset disposals, including the sale of a 50-year licensing of the OL Feminin women’s team and the sale of NWSL club Seattle Reign FC (formerly OL Reign).

Lyon’s financial debt reached €505.1 million as at 30th June 2024, compared with €458.5 million at the end of the previous year.

“Operating and capitalisation plan”

In a statement accompanying the results, Eagle said it intends to implement an “operating and capitalisation plan” for Lyon over the coming months, generating €75 million by the end of December from “equity contributions” and/or the sale of players owned by clubs in the Eagle Football Holdings group.

It also anticipates a contribution of up to €40 million of excess proceeds from the planned sale of Eagle’s 45 per cent stake in Crystal Palace, up to €100 million in early 2025 from Eagle’s planned IPO on the New York Stock Exchange, as well as further funds from the January transfer market.

The statement from Eagle added:“While the Group considers it probable that some or all of these financing transactions will be completed, any material delay or non-fulfillment of such projected cashflows could raise additional issues regarding going concern principle on the company and its subsidiaries.

“The Group's statutory auditors are considering issuing a qualified opinion with an inability to certify the Eagle Football Group's parent company and consolidated financial statements.”

Arsenal sporting director Edu to serve six months' gardening leave

Edu Gaspar, who earlier this week stepped down from his role as Arsenal’s sporting director, will serve a six-month period of gardening leave ahead of his move to join up with Nottingham Forest owner Evangelos Marinakis, according to a report from Sky Sports News.

Arsenal’s assistant sporting director Jason Ayto is expected to replace Edu while the club scouts for a successor. It is understood the Gunners are prepared to wait for the right person as a long-term replacement for the Brazilian rather than rushing to make an appointment.

A key component for Arsenal is finding someone who dovetails and works well in partnership with manager Mikel Arteta. The effectiveness of that relationship is felt to be linked to how strong Arsenal can be.

Solid structure

While losing a sporting director mid-season and somewhat abruptly is not ideal, the club are said to be calm about the situation. There is a feeling Edu has installed a solid structure, with the ownership having shown a skill for hiring accomplished people in all key departments.

During the upcoming international break, the football leadership team will meet with owners the Kroenke family to discuss strategy and squad-building ahead of the next windows, and Edu's successor will be on the agenda.

Crystal Palace receive bid from Dallas Mavericks head coach Jason Kidd for Eagle stake

Jason Kidd, head coach of the NBA side Dallas Mavericks, is part of a consortium that has made an offer to purchase Eagle Football Holding’s 45 per cent stake in Crystal Palace, according to a report from The Athletic.

It is understood the group’s initial proposal for Eagle’s stake fell below the valuation that John Textor, who is the largest shareholder in Eagle and one of Palace’s four primary owners, is looking for, but it retains an interest.

Kidd is said to be one of five people involved in the group, alongside Morgan Stanley sports executive Bejan Esmaili, former Roc Nation attorney executive Wajid Mir and two Saudi businessmen Haider and Mansoor Syed, who have established a fund with the intention of purchasing a football club.

Met with Palace hierarchy

The Syed brothers have met with the Palace hierarchy, including Textor and chairman Steve Parish, attending a match at Selhurst Park and touring the club’s academy. They have yet to submit an improved offer and are one of several to show an interest in Eagle Football’s shares.

The global sports investment group Sportsbank has also made a bid, while Stanley Tang, the co-founder of US food delivery company DoorDash, has considered a purchase.

Juventus target new front-of-shirt sponsor deal by end of season

Juventus CEO Maurizio Scanavino has said the club anticipates striking a new front-of-shirt sponsorship deal before the end of the current season after failing to find a new partner over the summer.

The Turin club are yet to sign a new deal following the termination of its agreement with Jeep at the conclusion of last season, which marked the end of a 12-year partnership.

Speaking yesterday at the latest Juventus shareholders' meeting, Scanavino said: “We are in negotiations with several brands and companies of international standing and visibility. We consider closing an important agreement by the end of this season.”

Sleeve sponsorship

Last month, Juventus signed a sleeve sponsorship deal with wealth management group Azimut. However, with no front-of-shirt sponsorship deal in place, since the start of the season the gap has been filled with the logo of the charity Save The Children.

“In the meantime, we have given our willingness to continue the collaboration with Save The Children, an opportunity to do good,” said Scanavino.

Sporting CP launch new €40 million bond issue to refinance debt

Sporting Clube de Portugal are once again turning to bondholders to refinance debt, with the launch of a €40 million issue to be repaid in 2028. It follows the launch in March this year of a €50 million bond issue maturing in 2027.

With a gross interest rate of 5.25 per cent, the latest bond was issued between 18th and 31st October and attracted 2,690 small investors. In total, 8 million bonds were issued with a nominal value of €5 each.

Most of the investors (745) contributed between €2,505 and €5,000, while 218 opted for the minimum investment of €2,500. Only 84 people invested more than €50,000.

Divided into two parts

As reported by the club to the Securities Market Commission (CMVM), the objective of the latest issue is to "diversify and optimise sources of financing,” and "finance current activity and strengthen liquidity".

The operation was divided into two parts: an offer of new debt and another of exchange of securities that matured this year. In addition to the new issuance, 511 investors exchanged bonds of the previous issue, maturing in 2024, for the new securities maturing in 2028.
 

A number of English top-flight clubs have reserved the right to seek compensation against Manchester City over the club’s 115 alleged Premier League rule breaches ahead of a deadline which arrived on Tuesday, The Times has reported.

The action was advised by lawyers even before the outcome of the case as there is a potential six-year statute of limitation period dating back to 5th November, 2018 when Der Spiegel first published the Football Leaks documents.

If the serious charges against City are found proven, clubs could claim for loss of income for missing out on the league title or European competitions over the course of several seasons, which could total hundreds of millions of pounds.

Rule X

Clubs cannot sue each other through the courts under Premier League rules but they can do so through arbitration under Rule X.

Lawyers are understood to have advised clubs that if they waited until the outcome of the hearing into the 115 alleged rule breaches then there would be a risk any compensation claim could be deemed to be out of time.

City have always denied any wrongdoing and say they have “irrefutable evidence” that will clear them.

Premier League clubs to vote on amended APT rules later this month

Premier League clubs are set to vote on proposed amendments to the league’s Associated Party Transaction (APT) rules at a meeting in London on 22nd November.

It is understood the clubs have received the proposals in the form of a detailed 14-page document, which has been seen by The Times, that focuses on the outcome of Manchester City’s recent legal challenge to the rules.

An independent tribunal found last month that certain elements of the rules were “unlawful”, citing the exclusion of shareholder loans as a key area that needed to be addressed. City argued that the cost of such loans should be included in the league’s financial regulations.

Equity injection investments

According to The Times, under the new proposals, which are the result of meetings of the Premier League’s legal advisory group and financial controls advisory group, the exclusion of shareholder loans has been removed, with only equity injection investments remaining exempt.

It is also understood that the definition of fair market value has been softened slightly from whether the amount “would” be sold to “could” be sold between willing parties. In addition, the words “in normal market conditions” have gone, along with three paragraphs outlining what that actually means.

This could prove highly significant as it would make allowances for the value an oil-rich Middle Eastern state may place on an association with a top-flight English club. At the centre of the Premier League’s dispute with City was a new sponsorship agreement with Etihad Airways.

Sheffield United move closer to US takeover worth over £100 million

Sheffield United owner Prince Abdullah has agreed terms to sell the club to the US consortium led by Steve Rosen in a deal worth more than £100 million, according to a report from The Daily Telegraph.

The final parts of the deal still need to be approved by the EFL but there is said to be confidence of Rosen taking control of the Championship club after progress was made in the last few weeks.

It is understood the deal will be worth £105 million, with Rosen also set to buy the hotel adjacent to Bramall Lane. The US businessman may look to attend this Sunday’s derby against Sheffield Wednesday but travel plans have not been finalised.

For sale since May 2023

Sheffield United, who are currently vying for an immediate return back to the Premier League following last season’s relegation, have been for sale since at least May 2023.

A previous agreed deal with another American, Henry Mauriss, collapsed before Nigerian businessman Dozy Mmobuosi failed to convince the EFL he had the capability to run the South Yorkshire club.

Wolves owner Fosun buys back minority stake from Peak6

Wolverhampton Wanderers owner, the Chinese group Fosun, has bought back a minority stake in its subsidiary, Fosun Sports, from American investment firm PEAK6.

The Chicago-based company acquired the stake in Fosun Sports in October 2021. However, as reported by The Athletic, Fosun has now bought the shares back for around $50 million.

PEAK6 Investments, led by co-founders Jenny Just and Matt Hulsizer, owns a range of companies and previously held stakes in AFC Bournemouth and AS Roma.

Created to hold the club

Fosun International acquired Wolves in 2016 and created Fosun Sports to hold the club. Besides the football team, Fosun Sports also runs e-sports teams, mobile games and a music label.

Following the initial sale to PEAK6 three years ago, the US firm’s director John Makowiec also became a director of Wolves, but the partnership has now ended after Fosun regained the shares.

Wolves are currently bottom of the Premier League after failing to win a match so far this season.

Mendy wins majority of claim against Manchester City over £11.5 million of unpaid wages

Former Manchester City defender Benjamin Mendy has won the majority of his employment tribunal claim against the club over £11.5 million in unpaid salary.

The wages were withheld by City after the France international was charged with sex offences. He was later cleared of all charges after two trials.

Following a hearing at Manchester Employment Tribunal, employment judge Joanne Dunlop said she had concluded that Mendy is "entitled to recover some, but not all of the sums claimed".

She said that while Mendy was not in custody, he was "ready and willing" to work and was "prevented from doing so which was unavoidable or involuntary on his part".

Exact amount

The exact amount Mendy will receive is to be calculated by the player and the club, or determined at a future hearing if they cannot reach an agreement.

A statement from Mendy noted that the tribunal had found City “had unlawfully made deductions from my wages for a total period of 16 months and 23 days,” adding: “Having had to wait for three years for my wages, I am delighted with the decision.”

According to Reuters, financial investigators conducted searches at the offices of France's Professional Football League LFP and the private equity fund CVC Capital Partners on Tuesday.

This action follows an allegation of misappropriation of public funds and is part of an investigation that began on July 16, 2024, involving charges of embezzlement, bribery, and illegal taking of interest.

The investigation was prompted by a complaint from the 'AC!' association, which alleged misappropriation of funds in 2022 related to the creation of the LFP1 subsidiary. In 2022, CVC Capital acquired a 13 per cent stake in the LFP's media rights business company for €1.5 billion.

LFP is cooperating

A recent French Senate report criticized the management of French professional football, suggesting that while the long-term benefits of the CVC deal for clubs are uncertain, its advantages for LFP management were clear and immediate.

The LFP has stated that it is cooperating with judicial authorities and insists that its actions have always been in full compliance with regulations and in the best interest of French football.

Manchester United's stadium decision postponed

Manchester United have postponed the decision on whether to redevelop their historic Old Trafford stadium or construct a new venue until next summer, as reported by The Telegraph.

The club are considering a new 100,000-capacity stadium as part of a significant regeneration project, which could be facilitated by acquiring additional land around their current location.

According to a survey sent to around 500,000 United supporters, 52 percent are open to the idea of building a new stadium, while 31 percent prefer redevelopment of Old Trafford, and 17 percent remain undecided.

Generational divide

The survey also revealed a generational divide among fans, with younger season ticket holders favoring staying at Old Trafford and older fans more supportive of a new stadium. The club noted that the survey was the largest it had undertaken, with 90 percent of respondents expressing positivity about the ambition to deliver a world-class stadium at the heart of a regenerated district.

Sir Jim Ratcliffe and the Glazer family, United's co-owners, are being encouraged by the Old Trafford Regeneration Task Force, led by Lord Coe, to maximize the potential impact of any development.

Ipswich CEO calls for VAR to go

Ipswich Town's chief executive Mark Ashton has expressed his dissatisfaction with VAR, to the extent that he would vote against its continued use if given the opportunity, according to The Telegrapgh.

His comments come after a Premier League match against Leicester City, during which he felt compelled to text Howard Webb, the chief refereeing officer at Professional Game Match Officials Limited, due to frustration with decisions made on the field.

According to Ashton, he reached out to Webb mid-match because he anticipated issues with the officiating. Ipswich was denied a penalty and later saw Kalvin Phillips sent off with a second yellow card, which was followed by a late equalizer from Leicester.

Changed his mind

Initially supporting VAR based on presentations from the Premier League and despite a petition from Wolverhampton Wanderers for its removal, Ashton now questions the system. He said, "If I was asked to make that vote again tomorrow, I can’t look you in the eye and say I would vote the same way."

Ashton criticized VAR for negatively impacting the entertainment value of games and is set for further discussions with Webb regarding its use. Ipswich Town, recently promoted, is experiencing VAR for the first time since their return to the top flight after an absence since 2002.

Arsenal have confirmed that their sporting director Edu Gaspar is to leave the club, with reports indicating he is set to join up with Nottingham Forest owner Evangelos Marinakis and his network of clubs.

In a statement released yesterday, Arsenal said: “Edu Gaspar has today resigned from his position as our sporting director”. The former Gunners midfielder said: “Now it is time to pursue a different challenge.”

According to a report from The Independent, the Brazilian has been in talks with the Marinakis group and is now set to lead their recruitment to assist with Forest, as well as Greek club Olympiacos and Portuguese side Rio Ave.

Tripling of wages

It is understood Edu had held ambitions to become CEO at Arsenal, a position the Marinakis group is willing to meet, while also improving his wages by more than three times that of his existing salary at the Emirates.

Edu has established himself as one of the game’s leading sporting directors after impressing with both signings and trimming down Arsenal’s squad after selling Pierre-Emerick Aubameyang.

FIGC assembly approves Gravina reforms amid clash with Serie A

The Italian Football Federation (FIGC) assembly has approved the amendments to the Federal Statute proposed by its president, Gabriele Gravina, as a dispute with Serie A over the changes looks set to continue.

As reported by Italian media, of the accredited delegates at yesterday’s assembly, there were 376.35 votes in favour of the changes (81.5 per cent of those entitled to vote), 29.33 votes against (6.35 per cent) and 46.40 abstentions (10.05 per cent).

Of the Serie A representatives eligible to vote, there were eight votes against and 12 abstentions. The league has been seeking greater autonomy in organising its competitions and a binding say in matters that exclusively affect the league.

Federal Council’s power maintained

The amendments to the Federal Statute acknowledge “full autonomy of the leagues in organising their competitions,” but maintain the Federal Council’s power to coordinate competitive activities and deliberate on the organisation of the championships, in agreement with the leagues.

The updated Statute also grants Serie A a “right of agreement” on federal regulations that exclusively concern it. However, Serie A views this as insufficient, believing it maintains the previous system without recognising true autonomy.

In response, the Italian league has been considering countermeasures, including a possible legal challenge to the legitimacy of yesterday’s FIGC assembly.

Paris Saint-Germain announce record revenues of €805 million for 2023/24

Paris Saint-Germain have announced record revenues of €805 million for the 2023/24 financial year, up from the €801.8 million earned the previous year.

The figure was included in a report presented by the club on its economic and societal impact, which was produced by the French Centre for Sports Law and Economics (CDES).

In 2022/23, PSG generated the third highest turnover in European football, behind Real Madrid (€831.4 million) and Manchester City (€826 million). The Ligue 1 champion’s revenues have now grown by a yearly average of 17.9 per cent since 2010/11.

Total economic impact of €243 million

The CDES report said PSG generated a total economic impact of €243 million for the Île-de-France region in 2023/2024, compared with €182.2 million in 2018/19, when the previous CDES report was produced.

The study also found that PSG’s total contribution to the region's public finances amounted to more than €371 million in 2023/24, an increase of 44 per cent compared to 2018/19, and the equivalent of 7.4 per cent of the region's budget.

Marinakis sues owner of rival Greek club for defamation

Evangelos Marinakis, the Greek owner of Nottingham Forest and Olympiacos, is suing Irini Karipidis, the owner of rival Greek club Aris, for more than £2.1 million in a high court libel claim.

Marinakis is taking the action over an alleged “smear campaign” including “false” allegations of match-fixing following allegations made on a website, social media, and mobile billboards between November 2023 and March 2024.

A court hearing was told the allegations, which Marinakis denies, along with separate accusations over a separate drug trafficking case. Barristers for Marinakis said the allegations were “completely untrue” and that the case should proceed in an English court because it had a “real prospect of success”.

Forest-themed website

The court heard that allegations had appeared on a Forest-themed website, X, and YouTube as well as mobile billboards viewed around the City Ground on matchdays. The YouTube channel, X account, and website were later taken down.

David Sherborne, who represents Marinakis, said in written submissions to the court: “The allegations which Mr Marinakis complains of are completely untrue and nothing in the defendants’ evidence comes anywhere close to substantiating [the claims].”

Representing Karipidis is Matthew Hodson, who told the court that the publications were “procured or created by a US PR firm” named Harris Media, which was paid $25,000 but is not involved in the case, and that there was no evidence of “actual harm” to Marinakis’s reputation.

The global sports investment group Sportsbank has emerged as a leading contender to acquire John Textor’s 45 per cent stake in Crystal Palace with a bid of more than £200 million, according to a report from The Daily Telegraph.

The consortium is understood to be made up of a collection of investors from North America, Canada, Europe and the Gulf, including Zechariah Janjua and Navshir Jaffer, who are both said to be fans of Palace.

The group is being advised by the veteran football financier Keith Harris, who has been linked with dozens of takeovers in recent decades, including at other Premier League clubs such as Manchester City and
Aston Villa.

Three serious suitors

It is believed the Sportsbank group is one of three serious suitors the New York bank Raine Group has been dealing with in relation to the Palace stake for at least two months.

Textor, who first confirmed he was selling in May, is expected to advance with a preferred bidder in November. The American businessman remains keen to own a controlling interest in another English club, having missed out on a proposal to buy Everton.

UK government ‘asked for updates’ on Premier League’s 115 charges against Manchester City

Senior officials at the British Foreign Office asked for updates about the Premier League’s charges against Manchester City for 115 alleged rule breaches, new documents seen by The Times have shown.

James Cleverly, who was foreign secretary in the previous Conservative government, asked for an update in September 2023, while the British Embassy in Dubai asked for the latest information on the case in May this year.

The information is revealed in copies of emails obtained by The Times from a freedom of information request to the Foreign, Commonwealth & Development Office (FCDO).

Although most of the information is heavily redacted on the grounds that it could damage the UK’s relations with the United Arab Emirates (UAE), the emails show that ministers, MPs and officials received updates on the charges.

Vice-president of UAE

City are owned by Sheikh Mansour of Abu Dhabi, the vice-president of the UAE. Emails show the Foreign Office remained insistent it was an independent process being carried out by the Premier League in which it had no involvement.

An independent commission’s hearing into the charges began in September and is due to finish in the middle of November, with the outcome announced early next year. City are contesting the alleged rule breaches and have said they have “irrefutable evidence” that will support their case.

St. Pauli set target of €30 million from sale of stadium shares to fans

St. Pauli have confirmed they are hoping to raise up to €30 million in fresh capital from the sale of shares in the Bundesliga club’s Millerntor Stadium to supporters.

In a statement, the Hamburg club announced it will sell shares to a new fans co-operative, Football Cooperative St. Pauli eG, with the process beginning on 10th November and expected to run until the end of January.

Individual supporters can buy shares at €850 each and the aim is to raise enough for the cooperative to purchase a majority stake in the stadium.

First of its kind

It is thought the co-operative fundraising model is the first of its kind in football. Andreas Borcherding, chair of the co-operative’s managing board, said: “We have the great honour of being responsible for the first cooperative in the professional game anywhere in the world.”

St. Pauli, who returned to the German top-flight after finishing top of Bundesliga 2 last season, have refused to take sponsorship from betting and cryptocurrency firms.

Vitesse Arnhem attract takeover interest from City Football Group and Red Bull

The City Football Group (CFG) and Red Bull are reported to be ready to compete for a potential acquisition of the financially strapped Dutch club Vitesse Arnhem.

According to the Dutch newspaper De Gelderlander, both CFG and Red Bull and showing interest in buying the beleaguered club, with dialogue involving the relevant parties said to be at an early stage.

Vitesse narrowly avoided bankruptcy this summer, but are still looking for a new owner so that operations can be secured in the long run. They are currently second from bottom in the Dutch second division.

Deducted 18 points

Back in April Vitesse were deducted 18 points by the Dutch FA (KNVB) for breaching its licensing regulations, confirming their relegation from the Eredivisie.

Having been formed in 1892, Vitesse are one of the oldest clubs in Dutch football, and there are said to be concerns among fans over whether a takeover by a multi-club group such as CFG or Red Bull could come at the cost of the team’s identity and autonomy.

The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, is set to reduce its international sports investments by up to 20% to concentrate on local businesses and the nation's economy.

The PIF's governor, Yasir Al-Rumayyan, stated that the fund's investment in international sports properties has surged from 2% to 30% in recent years, and the goal is to bring it down to between 18% and 20%.

According to a report from Spanish media Palco 23, the PIF has a portfolio of approximately €851 billion.

Stakes in Saudi clubs

Al-Rumayyan highlighted a significant shift in investor relations with the PIF, noting an increase in co-investments. In April, the PIF acquired a 75% stake in four major Saudi clubs: Al Ittihad, Al Hilal, Al Ahli, and Al Nassr. The remaining 25% is held by non-profit foundations.

Newcastle United FC is among the football clubs in PIF's portfolio. The Premier League club received a £70 million capital boost from their owners last season. Beyond football, the PIF has explored acquiring Formula 1 from Liberty Media and also owns LIV Golf, a new professional golf circuit competing with established tours like the PGA Tour and DP World Tour.

Eintracht Frankfurt reports record turnover for 2023/24 season

Eintracht Frankfurt Fußball AG have reported a record turnover for the 2023/24 season.

During a press conference, the outgoing CFO Oliver Frankenbach, who was set to leave the company on October 31, 2024, unveiled the financial report showcasing a significant increase in turnover and profit after tax.

The Bundesliga club achieved a turnover of €390.5 million, surpassing the previous season's €310.2 million, and a profit after tax of €26.9 million. The 2023/24 season's financial success was primarily driven by record transfer revenues totaling €143.2 million.

Decline in other revenues

Despite this growth, the club experienced declines in revenue across almost all areas related to home match hosting due to participating in the UEFA Europa Conference League instead of the UEFA Champions League as in the previous season. This included a decrease in media rights exploitation revenues from €140.5 million to €92.6 million, marking a 34.1 per cent drop.

However, merchandising sales remained stable at €23.4 million, nearly matching the prior year's figure. Additionally, there was a notable 20.4 per cent increase in sales from subsidiaries, rising from €33.9 million to €40.8 million.

Bologna partners with Webuild for €200 million stadium renovation

Bologna FC 1909 have entered into an exclusive agreement with construction firm Webuild for the renovation of Stadio Dall’Ara, with plans to invest €200 million in the project, the club have announced.

The deal, which lasts until December 31, 2027, grants Webuild the rights to conduct technical feasibility studies and manage the engineering, procurement, and construction (EPC).

This renovation is part of a broader Public Private Partnership initiative developed by Bologna FC in collaboration with the city council. The refurbished stadium will support Bologna's bid to host UEFA EURO 2032 matches.

Other stadiums in the portfolio

The project also encompasses redevelopment of the “Antistadio” area and construction of a temporary stadium to host Bologna FC's home games during renovations.

Webuild boasts a portfolio of nine major stadiums worldwide, including Milan's iconic Stadio San Siro and Rome's Stadio Olimpico.

Partizan Belgrade faces financial crisis

Rasim Ljajić, the new president of Serbian football club Partizan Belgrade, has disclosed that the club is facing a severe financial crisis with debts exceeding €45 million.

The club's largest debt is €22 million owed in taxes to the state, but substantial amounts are also due to agents, former players, and other clubs, stemming from unpaid wages and commissions, the club have stated.

According to Ljajić, Partizan currently lacks the financial resources to fulfill its obligations and is finding it challenging to make payments. The management is seeking to renegotiate and reschedule the debt repayments.

Impending salary reductions

"Monthly expenses for salaries amount to €1.2 million, including the staff and football players, while our income is practically zero," Ljajić stated, emphasizing the dire need for cost-cutting measures. He announced impending salary reductions for Partizan's employees and a significant decrease in the club's overall expenses.

The annual budget needs to be slashed from €22 million to possibly as low as €16 or €17 million for the club to remain solvent. Ljajić mentioned that selling even one player could be critical for survival, though he acknowledged that this is more hopeful than certain, given the current circumstances.

FIFA accused of human rights abuses in new report

FIFA, the governing body of world football, has been accused of contributing to "very serious and systematic human rights abuses" in a new report by the human rights group FairSquare.

The 140-page report, titled 'Substitute: the case for the external reform of FIFA', is based on extensive interviews and field research, assessing the impact of World Cups since South Africa 2010.

According to The Independent, the report argues that FIFA's current structure, centralized around an executive president supported by a one-member-one-vote system, is a negative force that fails to self-regulate and is conflicted by its dual role as regulator and competition organizer.

Governance criticized under Infantino

According to the report, FIFA's governance has deteriorated since Gianni Infantino's presidency began in 2016, especially in areas such as the development of women's football. The organization is under scrutiny for its relationship with Saudi Arabia, which is expected to be awarded the 2034 World Cup in a controversial voting process.

FairSquare highlights issues with the FIFA Forward programme, which redistributes funds among member associations but lacks transparency and seems designed to secure political support rather than address specific development needs. The report concludes that FIFA's financial distribution system appears to prioritize buying political support at the expense of sustainable development of the game.

Lyon owner John Textor’s investment vehicle, Eagle Football Holdings, is seeking to borrow around $300 million to help repay part of a loan from Ares Management Corp. as part of a broader recapitalisation plan, according to a report from Bloomberg.

The company, whose portfolio of clubs also includes Botafogo, RWD Molenbeek and Crystal Palace, is said to be working with Toronto-Dominion Bank’s TD Cowen unit to gauge appetite from lenders, including private credit firms.

Sources told Bloomberg that at least some of the proceeds will be used to repay part of a roughly $500 million debt package that Eagle took out from Ares to support the Lyon takeover, which was completed in December 2022.

It is understood Eagle may also use some funds from the planned sale of its 45 per cent shareholding in Crystal Palace to help repay the Ares loan. In a statement given to Bloomberg, Eagle said it plans to identify a finalist to buy the Palace stake in early November.

IPO in first quarter of 2025

The moves are part of Eagle’s efforts to raise a combined $1.1 billion in equity and debt to recapitalise its business. The group told Bloomberg that it aims to raise as much as $100 million selling shares in Eagle to pre-IPO investors and targets another $500 million from a planned IPO in the first quarter of 2025.

Eagle added that it has hired three investment banks for the offering and is poised to confidentially file for the listing in early November. The company also said it is projecting more than $225 million of income from player sales in 2024/25.

UEFA pledges €1 billion in new six-year plan for women’s football

UEFA has pledged to commit €1 billion as part of a new six-year strategy for women’s football in Europe, with plans to increase the number of professional leagues across the continent from four to six.

Through the strategy, which is titled ‘Unstoppable’ and will run from 2024 to 2030, UEFA is committing to increase the number of fully professional players across Europe from 3,049 to 5,000 by 2030.

In a statement, UEFA said the strategy will also help football become “the most-played team sport for women and girls in every European country, through developing football pathways for players, coaches and referees alongside grassroots opportunities.”

Player welfare

An additional key focus of the strategy is player welfare, amid an increasingly congested international and domestic fixture schedule. UEFA said it will have more “informed conversations” with players and their representatives to help address the issue.

The governing body added that it will work with national associations and other stakeholders to create a “long-term women’s international match calendar that reflects the needs of the professional game”.

FIFA unveils Hisense as first Club World Cup sponsor

FIFA has announced Hisense as the first sponsor of its expanded 32-team Club World Cup in a deal that will brand video review checks at the tournament taking place in the US next summer.

It follows months of speculation about when sponsors for the competition would be signed up. FIFA is still yet to agree any broadcast deals for the tournament after talks over a global streaming deal with Apple+ stalled.

In a statement, FIFA said Hisense will have “branding appearing in the video operation room and on pitchside screens.”

The Chinese consumer electronics firm was the official ‘VAR Screen Provider’ for Euro 2024 in Germany. No previous FIFA tournament has had a sponsor for video reviews since the technology was approved before the 2018 World Cup in Russia.

“Further sponsorship deals”

FIFA said the new Hisense deal “paves the way for further sponsorship deals for FIFA’s new flagship club competition to be announced in the coming weeks.”

Saudi Arabian sponsors are expected to sign up soon. However, US sponsors have been more focused on deals for the 2026 World Cup that will be co-hosted with Canada and Mexico.

Rangers post £17.2 million loss for 2023/24 despite record revenues

Rangers have reported a loss of £17.2 million for the year ending 30th June, 2024 despite earning record revenues of £88.3 million.

It follows the loss of £4.1 million recorded for 2022/23, when revenues totalled £83.8 million. The club, who finished second in the Scottish Premiership last season, posted an operating loss of £2 million for 2023/24, down from £10.5 million the previous year.

However, the profit on player sales fell to £5.6 million, compared with £23.6 million in 2022/23.

Matchday income rose from £39.9 million to £43.8 million, while commercial revenue increased from £6.3 million to £7.9 million, and broadcast income climbed from £6.2 million to £6.7 million.

Wage bill falls to £61.2 million

Total operating expenses amounted to £109.8 million, up 1.7 per cent on the £108 million spent the previous year, although the club’s wage bill declined from £64 million to £61.2 million.

Commenting on the £17.2 million loss, Rangers' chief financial officer James Taylor said: “A lot of that loss is coming down to the impact of the player trading model in this year taking impairments on players from the recent past that we've moved on in the summer.

FIFA ‘in dispute with Adidas and Coca-Cola’ over Club World Cup sponsorship

FIFA is reported to be in dispute with its long-term partners Adidas and Coca-Cola over sponsorship rights for the Club World Cup due to be held next June and July in the US.

According to The Guardian, separate cases have been lodged at the Swiss Arbitration Centre in Zurich and are expected to be heard in the coming weeks.

FIFA has so far announced only one sponsor for the 32-team tournament, and that is believed to relate to disputes with Adidas and Coca-Cola over an agreement in their deals that FIFA will include them as official sponsors of all its competitions.

Sources told The Guardian that both companies are “less than thrilled with the situation” after FIFA attempted to negotiate new contracts for the revamped Club World Cup.

$70 million deals

Adidas and Coca-Cola signed deals to 2030 thought to be worth about $70 million for each four-year cycleand are believed to have been unwilling to enter a tender process.

A FIFA spokesperson said: “We are contracting or in advanced negotiations with a range of tournament partners for the new FIFA Club World Cup,” adding: “The interest from the market is very strong, and the deals being negotiated are with both new brands and existing FIFA sponsors.”

WSL agrees £65 million five-year broadcast deal with Sky Sports and BBC

The Women’s Super League (WSL) has struck a new five-year domestic broadcast rights deal with Sky Sports and the BBC to show almost every match live on television, beginning with the 2025/26 season.

The value of the deal is undisclosed, but according to The Guardian the rights fee is worth around £65 million across the duration of the five seasons, plus production costs, taking the broadcasters’ total investment in the women’s game to comfortably over £100 million.

The new agreement represents a huge increase on the current deal, which is believed to be worth between £7 million and £8 million per season.

Sky Sports are understood to be contributing the vast majority of that investment and, in return, have been given up to 118 live WSL matches per season, 78 of which will be exclusive to Sky. It will also have 75 per cent of the first-choice picks.

BBC to show up to 21 games

The BBC has committed to showing up to 21 matches a season live, 14 of which will be exclusive to BBC TV, with the remaining seven shared. Any matches not selected for live TV broadcast will be shown live on YouTube.

It means fans will be able to watch all 132 games in a WSL season live either on TV or online. It is also understood there will be a large increase in the number of Women’s Championship matches broadcast live on YouTube. Sky also have the option to broadcast matches live.

UEFA is to give players’ union FIFPro Europe a seat on its Executive Committee in a move designed to give players more input on issues such as the congested match calendar.

In a statement, UEFA announced the signing of a memorandum of understanding (MoU) with FIFPro Europe, claiming it marks a “significant step in boosting player representation and cooperation in the governance of European football.”

UEFA said that under the agreement FIFPRO Europe will “for the first time take a seat within UEFA’s governance structures” and, from May 2025, will be represented on its Executive Committee, “initially in an advisory capacity.”

“Voices are directly heard”

UEFA added: “This will help ensure that players’ voices are directly heard at European football’s highest decision-making table, alongside those of national associations, leagues and clubs.

“Key decisions impacting player employment conditions or players’ workload in UEFA competitions will now be made only after extensive dialogue between the two organisations.”

The move comes after stars such as Ballon d’Or winner Rodri have warned they could strike in protest at the number of games in the calendar, and follows legal action launched by FIFPro and the European Leagues against FIFA earlier this month.

FIFA sets up Task Force on Player Welfare led by Arsène Wenger

FIFA has announced it is setting up a Task Force on Player Welfare led by its chief of global football development Arsène Wenger amid mounting tensions between players and the governing body.

In a statement, FIFA said the Task Force includes representatives from member associations, confederations, FIFPro, the European Club Association and the World Leagues Association.

“The objective of the task force is to examine how suitable and effective safeguards for players can be implemented, also taking into account practical considerations from operational, medical, regulatory and legal perspectives,” FIFA said.

“The task force is due to make recommendations informed by the latest scientific research into the topic of players’ physical and mental well-being.”

“Global dialogue”

FIFA added that the Task Force is designed to “promote further global dialogue on welfare matters with key stakeholders from across football” and follows a decision of the FIFA Council and entry into force of the revised FIFA Statutes in July.

Earlier this month, FIFPro and the European Leagues launched legal action against FIFA over what they allege is abuse of a dominant position in relation to the international calendar, including a lack of consultation over the new Club World Cup, which FIFA has denied.

Serie A TV blackout over in France as L’Équipe agrees two-year deal

This season’s coverage blackout of Serie A in France has finally come to an end after the sports media group L’Équipe completed a two-season deal with the Italian top-flight.

L’Équipe announced yesterday it had reached an agreement with Serie A to show two games per match week, along with highlights of all 10 fixtures, for the remainder of the 2024/25 season and all of 2025/26.

The first nine rounds of the 2024/25 Serie A campaign have not been available to watch in France after the three-year deal with beIN Sports expired at the end of last season.

New digital channel

One league game will be shown each week on the main free-to-air L’Équipe channel and the other on the new digital subscription channel L’Équipe live foot.

L’Équipe’s coverage began last night with AC Milan versus Napoli. The two-year agreement also includes the renewal of the rights to show the Coppa Italia and Supercoppa.

Red Bull are looking to extend their multi-club portfolio into Italy, with talks underway with Torino over a potential takeover of the Serie A club, Italian media have reported.

The Austrian group struck a new sponsorship deal with Torino last month, becoming the club’s official energy drink partner, marking its first such agreement in the Italian top-flight.

According to La Stampa, the Torino owner Urbano Cairo has held talks with Red Bull representatives over becoming the club’s main sponsor and the future possibility of a takeover.

Stadium requirement

It is understood Red Bull would want Torino to have their own stadium which it would then acquire as part of any buyout, however. The club currently plays at the multi-purpose Stadio Olimpico Grande Torino.

Cairo has denied he is looking to sell the club. Speaking to the Italian news agency ANSA, he said: "There is nothing true, I have no intention of selling Torino, I have not met anyone.” He added: “The press likes to destabilise the Toro environment."

AC Milan post €4.1 million profit for 2023/24 as revenues hit record high

AC Milan have reported a profit of €4.1 million for the year ending 30th June, 2024 after earning record total revenues of €457 million.

It marks the second successive year the club has finished in the black, following the profit of €6.1 million for 2022/23, when revenues reached €404.5 million as the club generated its first surplus since 2005/06.

The further improvement in Milan’s financial figures in 2023/24 came despite a fall in broadcast income to €152 million, down from €174.9 million in 2022/23, when the club reached the Champions League semi-finals.

Matchday revenues were also lower, declining from €72.8 million to €69.3 million.
However, commercial income reached €143.5 million, up from €127.3 million the previous year, and capital gains from player transfers amounted to €44.9 million, compared with just €200,000 in 2022/23.

Wage bill up 8 per cent

As for expenses, Milan’s wage bill rose by 8 per cent to €188.5 million, compared with €161.9 million the previous year, while depreciation and amortisation costs grew by 31 per cent to €93.7 million.

The club closed 2023/24 with a positive equity position of €196.3 million, up from around €176 million at the end of 2022/23, while net debt was just under €50 million.

Bologna losses ease to €10.4 million as revenues reach €103.8 million

Bologna FC 1909 have reported a loss of €10.4 million for the year ending 30th June, 2024 following the deficits of €16 million the previous year and €46.7 million in 2021/22.

The further easing in the club’s losses came as revenues for 2023/24, including income from player trading, rose to €103.8 million, up from €82.8 million in 2022/23.

In a statement, the club said commercial income reached €20.7 million, an increase of €2.7 million, while matchday income amounted to €8.6 million. Capital gains from player sales totalled €24 million.

Performance bonuses

The club added that its wage bill rose to €71 million, due partly to an increase in performance bonuses, while other operating costs were “substantially in line with the previous year’s figure”.

Bologna qualified for this season’s Champions League after finishing the 2023/24 season in fifth place in Serie A. In 2022/23 they finished ninth in the Italian top-flight.

The deadlock between Kylian Mbappé and Paris Saint-Germain over the French striker’s claim of €55 million in unpaid wages and bonuses is set to continue after the LFP’s decision on the issue was upheld on Friday.

As reported by French media, the LFP’s appeals committee upheld the ruling made by its legal committee on 12th September ordering PSG to pay Mbappé, who now plays for Real Madrid, the full amount he is claiming.

However, it is understood the Ligue 1 champions are still refusing to pay the sum. The LFP’s decision is not binding and the league cannot force the club to pay the France captain the unpaid wages, although it is understood PSG could face sanctions such as a transfer ban.

Employment tribunal

If PSG continue refusing to pay the funds, the next step for Mbappé, who has declined to attend mediation talks, may be to take the case to an employment tribunal. It was reported last month that the striker was ready to take the club to court over his claim.

PSG have insisted that Mbappé’s wage arrears are justified by the “commitments” made by the player to renounce them in the event of his departure as a free agent. The forward moved to Real Madrid in the summer on a free transfer after his PSG contract expired.

Premier League clubs set to discuss new EFL settlement deal as regulator looms

The Premier League is planning to present its clubs with fresh proposals for a financial settlement with the EFL at a shareholders meeting on 22nd November, according to a report from Sky News.

The meeting will take place a month after the UK Government introduced the new Football Governance Bill, paving the way for an independent football regulator that will have the power to impose a new financial distribution deal.

Sources told Sky that the Premier League had drafted in a heavyweight
team of consultants, including Global Counsel, the lobbying firm founded by Lord Mandelson, to advise it on issues including the new regulator.

Range of new offers

Next month’s meeting is expected to include a discussion on a range of new offers to be made to the rest of the professional football pyramid amid growing demand from some Premier League shareholders to present a revised deal to the EFL board.

An executive at one top-flight club said: "Getting a deal done now that the EFL accepts would offer a five-year fix, which means it is resolved for the medium term and out of the regulator's reach."

They added: "A sensible deal is more likely to get support from 14 clubs [the requisite majority] now."

Genoa and Sampdoria edge forward on stadium project

Italian clubs Genoa and Sampdoria appear to have taken a step towards the potential acquisition and revamp of Stadio Luigi Ferraris after indicating they may now be prepared to collaborate with external partners on the project.

In a joint statement issued on Friday, the two clubs said they have “continued talks this week … in order to define the conditions for a joint proposal for the redevelopment” of the stadium, which the two teams share.

It comes after Genoa, who play in Serie A, and Sampdoria, who are in Serie B, last month launched Genova Stadium Srl, a new company set up to drive investment in the venue.

“Third-party operators”

The statement added: “In this perspective, and to further strengthen their understanding, the parties intend to evaluate the possibility of involving third-party operators. In the coming days, meetings and technical insights in this direction will follow.”

The 38,000-capacity Stadio Luigi Ferraris is currently owned by the City of Genoa. Relations between the respective parties had soured over recent weeks, with the two clubs announcing the pursuit of individual projects, while the City unveiled a separate offer for the stadium from the CdS group.