Relevent Sports is to drop FIFA as a defendant in its antitrust lawsuit against FIFA and the U.S. Soccer Federation, according to a resolution between the parties filed in U.S. District Court in Manhattan on Monday.

As reported by The Athletic, the resolution between the New York City-based event promoter and FIFA does not include U.S. Soccer, which remains a defendant in the case that is still pending and could potentially be heard by the U.S. Supreme Court.

It marks the latest development in a case which could result in a ruling allowing club teams worldwide to play official league games outside of their home territory – an arrangement that is currently barred by FIFA statute.

FIFA considers “changes to existing rules”

In a statement to The Athletic, Relevent indicated that the agreement was made “while FIFA considers changes to its existing rules about whether games can be played outside of a league’s home territory.”

It added: “Relevent Sports looks forward to supporting FIFA as both sides work to grow the game.”

FIFA issued a similarly-worded statement, saying it “has not admitted any liability and continues to deny the legal claims alleged in Relevent’s complaint.”

Manchester United football director John Murtough steps down

John Murtough has stepped down from his post as football director at Manchester United and will leave the club this week after more than 10 years’ service, Manchester United have said in a statement.

The investment into United by Sir Jim Ratcliffe and the appointments he is making to key roles produced an expectation that Murtough would depart or be offered a different position.

However, Murtough has decided to stand aside altogether and let the new set-up take shape, as the INEOS-led restructure of sporting operations at Old Trafford continues.

Jason Wilcox to be named technical director

As reported by The Athletic, Murtough will effectively be replaced by Dan Ashworth, once the Newcastle United sporting director’s spell of gardening leave finishes, while Southampton director of football Jason Wilcox is on course to be named technical director.

According to The Daily Telegraph, United are accelerating the moves to appoint Wilcox and Ashworth following Murtough’s departure.

It is understood that United are hoping to reach an agreement with Southampton over compensation for Wilcox that would enable the Championship club’s director of football to take over as technical director at Old Trafford within weeks.

Masters issues fresh warning over “unintended consequences” of independent regulator

The Premier League CEO Richard Masters has again reiterated the league’s concerns over the potential “unintended consequences” of an independent regulator for English football ahead of a crucial vote by MPson the issue.

The Football Governance Bill was published by the UK government last month. Should the bill pass into law, the regulator would operate a licensing system covering all 116 men’s clubs from the Premier League to the National League.

It would also have the power to demand real-time financial information from clubs, scrutinise the finances of owners and force them to sell shares if they fail to co-operate.

In an article published in The Times, Masters wrote: “My overriding concern is that the bill would reduce our competitiveness and weaken the incredible appeal of the English game. Our competition is the most watched and commercially successful football league in the world.”

He added: “We are asking MPs and peers to protect the game, including the Premier League, which not only helps sustain the football pyramid for the benefit of fans but also contributes £4 billion in annual tax revenues and creates 90,000 jobs across the country. The unintended consequences of regulation generate significant risks.”

“English football’s golden egg”

Masters continued: “It is a risk that regulation will undermine the Premier League’s global success, thereby wounding the goose that provides English football’s golden egg.

“It is a risk to regulate an industry that has worked so hard to lead the world, especially when none of its competitors are subject to the same regulation.”

Ligue 1 domestic TV rights agreement edges closer with BeIN Sports in talks over €700 million deal

The LFP has moved closer to securing a deal for the next cycle of Ligue 1 domestic broadcast rights, with current international rights partner beIN Sports willing to match the league’s asking price of €700 million per year, French media have reported.

Progress towards an agreement for the five-year cycle running from 2024/25 to 2028/29 stalled last week when negotiations between the LFP and DAZN broke down.

The UK-based streaming platform reportedly offered around €500 million per year for the domestic rights, in line with the league’s current deal, but the offer was immediately rejected for not matching the LFP’s aim for a higher figure.

BeIN Sports, owned by Qatar Sports Investments (QSI) – which also owns Paris Saint-Germain – had previously told the LFP that they did not wish to control 100 per cent of the rights for the French top-flight but it is understood they have now come around to the idea.

Support from French president

According to L’Équipe, the change of heart from BeIN is in no small part due to the alleged support from France’s president, Emmanuel Macron, with the newspaper reporting that the president has made his best efforts with the Emir of Qatar to promote Ligue 1.

A government source told L’Équipe: “For several months, the president has been available if necessary to contact this or that [party] to help French football. He also did so with the Qataris, expressing the importance that we attach to [the league].”

Manchester City’s parent company, City Football Group (CFG), has reported a pre-tax loss of £126.9 million for the 2022/23 financial year, following the £137 million deficit posted the previous year.

The latest loss came despite the group earning record revenues of £877.1 million, up from £705 million in 2021/22, and after Manchester City announced a profit of £80.4 million for the same period, which covered their treble-winning season.

City earned revenue of £713 million in 2022/23, meaning that other clubs and entities within CFG generated £164 million, the highest amount from teams other than City since the group was formed in 2013.

CFG acquired controlling stakes in three clubs in the period: 80 per cent of Palermo, 65 per cent of Mumbai City FC and 90 per cent of Bahia. The second highest turnover after City was generated by Girona, with £49.2 million, followed by New York City FC with £48.2 million.

Wage bill up 26 per cent to £618.1 million

CFG’s accounts showed a sharp rise in overall expenses across the group, which now comprises 13 clubs, with total staff costs rising by more than 26 per cent, from £488.5 million in 2021/22 to £618.1 million in 2022/23. In the same period, Manchester City’s personnel costs climbed by 19 per cent, from £353.8 million to £422.8 million.

While the bulk of transfer spending within the group continues to be made by City, the outlay on players from other CFG teams rose to £45 million in 2022/23, up from £43 million in 2021/22 and £31 million in 2020/21.

 

Premier League set to keep points deductions despite criticism

The Premier League will not scrap points-deduction penalties for breaches of its financial rules, according to a report from The Times, despite speculation last week that it was considering abolishing them.

The league’s Profitability and Sustainability Rules (PSR) have attracted widespread criticism after Everton and Nottingham Forest were deducted points for overspending.

There have also been questions as to why Forest were given only a four-point deduction despite having a larger breach than Everton, who had an initial ten-point penalty reduced to six on appeal.

Fines for lesser offences

The Times also reported that the Premier League is considering having a tariff that would impose only fines on clubs for lesser offences. The new system, which would run alongside a new “squad cost rule” that limits spending, would come into force for the 2025/26 season if approved at the Premier League clubs’ summer meeting in June.

Unlike the EFL, the Premier League clubs had decided not to have a fixed tariff of sanctions but to leave that decision to an independent commission – which is what happened in the cases of Everton and Forest.

The votes on the new rules may result in another split between clubs who want tighter spending regulations and those who favour a free market.

 

Everton manger Sean Dyche: Club would not be in financial trouble if I had been here longer

Sean Dyche, the Everton manger, has claimed that the club’s stark financial problems would not have occurred under him as he would have acted more responsibly than those whose reckless spending was akin to “throwing the club under a bus”.

In comments reported by The Times, Dyche added that the time had come for someone to “jump on the grenade” and display the necessary prudence to correct a catalogue of costly mistakes.

Everton have been docked six points for breaking the Premier League’s Profitability and Sustainability Rules (PSR) this season, and another punishment for a second breach is due this week.

Those offences pre-date Dyche’s appointment last January, but cast a shadow over the progress he has implemented after two fraught relegation battles threatened the club’s Premier League existence.

“It wasn’t on my watch, unfortunately,” Dyche said. “It wouldn’t have happened on my watch. Trust me, because I would have been saying, ‘No, no, no, no.’ The health of the club is important to me.

“Having played my part in building one club [Burnley], I wouldn’t be throwing the club under the bus by saying, ‘I am the manager, I need £250 million.’ I would be going, ‘No, how can that work for this club? We cannot afford it.’”

“We haven’t got that money”

Dyche added: “I am definitely not judging managers or anything like that, because on the pitch is a different thing, but somebody had to, down that timeline, go, ‘Hang on a minute.’ Someone.

“I certainly did. When I first got here, before the first [transfer] deadline. We were linked with a few players and they were going to have a go and I went, ‘You can’t do that, we haven’t got that money, we are going to need that money more in the summer than we do now.’”

Premier League clubs are considering abolishing points deductions and introducing a “luxury tax” amid growing concerns about the impact of the league's Profitability and Sustainability Rules (PSR), The Daily Mail has reported.

The points deductions for Everton and Nottingham Forest, along with a quiet January transfer window as clubs avoided overspending, are said to have left many officials to deem PSR not fit for purpose.

There are also concerns that, under its current guise, PSR will cause the Premier League to fall from its lucrative position as the world's best league as it will no longer be able to afford the best players on the highest salaries.

It is understood that radical reform has been discussed among the clubs and an entirely new system could be voted in at the end of the season meeting in June, with as many as 17 of the 20 clubs thought to be leaning towards significant change.

Financial punishment

A “luxury tax” is believed to be among the options being considered, where those clubs who overspend will have a financial punishment which would increase the more they spend – but clubs could choose to press on regardless if they wished.

The monies collected, which could run into the tens of millions, would then be redistributed to those Premier League clubs who complied with the rules. It has been discussed that some of the fines could even go into an “emergency fund” to assist EFL clubs in financial danger.

Currently, such a tax features in the US in the MLB and NBA, and relates to the amount spent on the salaries of the playing squad. America's other two main sporting leagues, the NFL and NHL, have 'hard' salary caps which clubs are not allowed to exceed.

Qatari Manchester United bid issues complaint over ‘false’ statements by Ratcliffe and club

Sheikh Jassim bin Hamad al-Thani has complained about “demonstrably false statements” made by Manchester United co-owner Sir Jim Ratcliffe in relation to the former rival Qatari bid to buy the club, according to a report from The Athletic.

A key part of the complaint relates to comments reportedly made by Ratcliffe to a journalist back in February, apparently questioning the existence of his rival.

“Still nobody's ever seen him, actually,” he said. “The Glazers never met him... he never... I'm not sure he exists!” Ratcliffe had also appeared to suggest the bid led by Sheikh Jassim had failed to provide proof of funds.

The Athletic reported that legal representatives of Sheikh Jassim and his investment vehicle, the Nine Two Foundation, have now complained about Ratcliffe's comments.

It is understood the Qatari bid has suggested the INEOS owner had breached a confidentiality agreement reached in the takeover process, and are calling for an end to “a pattern of demonstrably false and defamatory statements”.

SEC filings

The complaint also included a request for “immediate corrective action” to United's filings to the US Securities and Exchange Commission (SEC). Filings made in January implied that the Qatari bid had failed to produce proof of funds.

A legal letter was sent to United’s lawyers on 24th January, in which representatives of the Qataris insisted the filings had created a “misleading” impression and made a request for “immediate corrective action”. This demand has not been fulfilled.

The Qatari bid argue in their correspondence that the Nine Two Foundation provided “definitive” proof of funds via a demand guarantee from Qatar National Bank (QNB).

The Qataris also said they are still exploring all legal remedies and have instructed United and Ratcliffe to preserve all documents regarding their client in relation to the transaction and the matters raised in their complaint.
 

FIFA meets with Spanish government and RFEF after federation scandals

FIFA representatives have travelled to Madrid to meet with the Spanish government and Spanish Football Federation (RFEF) following a number of recent scandals at the country’s football governing body.

FIFA general secretary Mattias Grafstrom and FIFA legal director Emilio Silvero were in the Spanish capital yesterday for a meeting with Spain’s Superior Sports Council (CSD) with the aim of stabilising the situation at the RFEF.

Spain’s role at the 2030 World Cup, which the country is co-hosting alongside Morocco and Portugal, was expected to be discussed, with the pair then set to meet with the RFEF today.

Last Friday, The Athletic reported that the RFEF acting head, Pedro Rocha, would be travelling to FIFA headquarters in Zurich this week to reassure the world governing body of changes his organisation is making following the recent scandals.

Last month, RFEF headquarters and the home of its former president Luis Rubiales were searched as part of an investigation into alleged corruption during his five years in charge.

Rubiales released after being detained

On Wednesday morning, Rubiales was detained and questioned immediately after landing in Madrid as part of the anti-corruption investigation.

According to Guardia Civil sources, Rubiales, who was travelling back from the Dominican Republic, was informed he was being indicted and his lawyer was called so they could be present during questioning.

The former RFEF president invoked his right not to testify and was released. However, he is expected to be called to testify when a warrant for his arrest is issued by an investigating judge.

Brighton & Hove Albion have announced a record profit after tax in English football of £122.8 million.

The figure for the year ending 30th June, 2023 follows the £24.1 million profit after tax achieved by Brighton the previous year. The club beat the previous mark of £113 million set by Tottenham Hotspur in 2017/18.

Turnover for the 2022/23 financial year was Brighton’s highest ever £204.5 million, up from £174.5 million in 2021/22. The increase was driven by a best ever sixth-place finish in the Premier League – qualifying the club for Europe for the first time – and the club’s run to the FA Cup semi-finals.

However, the biggest factor behind the surge in profits was Brighton’s player sales during the period, with the profit on player trading almost doubling from £62.4 million the previous year to £121.4 million. Outgoing transfers included those of Alexis Mac Allister, Yves Bissouma and Marc Cucurella.

Among the ordinary revenue streams, broadcast income rose from £126.2 million to £155.2 million, while matchday revenue climbed from £20.6 million to £24.6 million, and commercial income increased from £15.4 million to £17.9 million.

The income for the year also included £22 million paid by Chelsea in compensation for manager Graham Potter and his coaching team moving to Stamford Bridge. As for costs, Brighton’s wage bill rose from £115.3 million to £127.6 million.

CEO Paul Barber signs new contract up to 2030

Brighton also announced that deputy chairman and CEO Paul Barber has agreed a new long-term contract with the club until 2030.

Commenting on the latest financial results, Barber said: "These accounts will of course catch the eye, because of the headline number. In a season when we made history on the pitch we took a huge step forward in terms of the club’s long-held aim of becoming more sustainable and less reliant on [Brighton owner] Tony Bloom’s incredibly generous levels of investment.

“For the first time since Tony made his first interest free loan to the club back in 2007 we have been able to make a substantial repayment to him reducing the loan balance from £406.5m to £373.3m.

“Our profitability also means we can further improve our infrastructure with a significant multi-million pound investment in a new external fan zone which, subject to planning, will be completed in summer 2024.”

Leicester City post £89.7 million loss for 2022/23

Leicester City have reported a loss of £89.7 million for the year ending 30th June, 2023, taking the club’s combined losses over the last three years to £215.3 million.

The release of Leicester's accounts comes 12 days after they were charged by the Premier League for an alleged breach of its profitability and sustainability rules (PSR) in relation to the three-year period ending 2022/23, and for failing to submit their audited financial accounts to the league.

Under the rules, clubs are permitted to make losses totalling no more than £105 million over three years, although certain costs can be deducted, such as investment in youth development, infrastructure, community and women’s football.

Leicester’s accounts for the 2022/23 financial year, covering a season which ended with relegation from the Premier League, showed that turnover fell to £177.3 million, down from £214.6 million.

The decline in revenues was primarily due to a reduction in Premier League merit payments and broadcast revenues, and the club’s absence from European competition for the first time in three seasons.

Leicester realised a profit on player trading of £74.8 million, up from £9.2 million the previous year, but the club noted that “this increase was offset by a significantly lower-than-budgeted league position and a costly change in First Team management structure.”

The 2022/23 financial year included club chairman Khun Aiyawatt’s conversion of £194 million of loans and related interest owed by the club to its owner King Power International into equity.

“Significant setback”

Commenting on the 2022/23 accounts, Leicester City CEO Susan Whelan said: “After a sustained period of growth and success for the Club during the last decade, the 2022/23 season was a significant setback, the consequences of which will be felt for some time. We must now focus on rebuilding and seeking to return to and re-establishing ourselves in the Premier League.

"Having achieved finishing positions in the Premier League of fifth, fifth and eighth in the three preceding seasons, our targets and associated budgets for 2022/23 were entirely reasonable.”

As well as the alleged Premier League PSR breach, Leicester are also the subject of a separate financial investigation by the English Football League (EFL), which followed up the Premier League charge last month by imposing a transfer embargo on the club. Leicester responded by starting legal proceedings against both the EFL and Premier League.

Ajax CEO Alex Kroes to be sacked for insider trading after two weeks in job

Ajax have suspended their CEO Alex Kroes on suspicion of insider trading just two weeks after he started in the post and have said they intend to dismiss him.

According to a statement from the Dutch giants, Kroes purchased 17,000 shares in the club a week before his appointment was formally announced last August.

Kroes, who was appointed to succeed Edwin van der Sar, only started at Ajax on 15th March due to a non-competition clause with his previous club, AZ Alkmaar.

Ajax stated that after legal advice it has “decided to suspend Alex Kroes with immediate effect and intends to terminate the collaboration permanently”.

Michael van Praag, the chairman of Ajax’s supervisory board, said: "We are deeply dismayed that this has occurred at Ajax, as it is highly detrimental to the club and everyone who holds it dear to them.

“Alex Kroes's actions are not in line with what Ajax stands for. The timing of his share purchase indicates insider trading. Such a violation of the law cannot be tolerated by a publicly listed company, especially when it involves the CEO.”

Ajax will hold an extraordinary general meeting to tell shareholders about the intended dismissal, before the supervisory board makes the final decision.

Kroes denies wrongdoing

In a statement on LinkedIn, Kroes confirmed he bought shares shortly before his appointment, in addition to shares he already held in the club.

However, he denied wrongdoing and said he "cannot simply accept this decision of the supervisory board." He added: "I thought it would be a positive sign to express confidence in the club and to shareholders. … 'Skin in the game,' as it's called."

Kroes also told Dutch media he would seek a judgment from financial watchdog AFM, which oversees share trading in the country.

777 ‘confident’ in ability to fund Everton takeover amid fresh doubts

Everton’s prospective owner 777 Partners has moved to fend off fresh doubts about its financial viability after new concerns were revealed in the media about the Miami-based investment firm.

According to an official memo seen by The Financial Times, regulators in the US states of Utah and South Carolina are “moving to force five insurers to cut their exposure” in 777.

The five insurers and reinsurers belong to the A-Cap group, and together held $11.5 billion of assets at year end. Of this, $2.9 billion was invested in entities related to 777, according to a notice to all state insurance regulators released last Thursday.

Regulators in those states were working together to issue “supervision orders”, the memo said, under which they can direct an insurer to remedy rule violations. A-Cap can appeal against any such orders and challenge the calculations underpinning them.

Necessary resources

The report in The Financial Times prompted a response from 777, which reiterated that it has the necessary resources to meet the obligation set out in its proposed purchase of Everton.

The 777 statement read: “As it relates to the proposed acquisition of Everton FC, 777 Partners is confident in its ability to fund both the transaction and the club’s three-year business plan, the details of which it has provided to the Premier League as part of its ongoing process of regulatory approval.”

A person close to A-Cap said partners had already been found to take on its 777 exposure, which it said the memo “grossly overstated”, and it expected a rapid resolution of the process.

FC Porto trading suspended by Portuguese markets regulator

The Portuguese Securities Market Commission (CMVM) has suspended trading in FC Porto SAD shares on Euronext, pending "the release of relevant information to the market".

The decision by CMVM comes after Porto’s president, Jorge Nuno Pinto da Costa, told SIC TV about some of the plans in relation to the club’s 15-year strategic agreement with Legends announced last November.

Porto have since sent a note to the CMVM in which it confirms that "in June it expects to definitively close the contract” with the US company. The agreement is designed to enhance the stadium experience for fans and hospitality guests at the Estádio do Dragão and increase matchday revenues.

In their accounts for the first half of the 2023/24 financial year released in February, Porto said Legends will take "a minority stake in one of the companies with commercial rights of the FC Porto Group", and that the club will receive an injection of between €60 million and €70 million in the fourth quarter of the year.

Porto added that the club is negotiating a restructuring of its medium- and long-term debt for an estimated amount of €250 million "at a competitive interest rate".

€55 million bond loan

Last May, Porto launched a new bond loan of up to €40 million, which was extended the following month to €55 million following market interest.

The club posted a profit of €35 million for the six-month period ending 31st December, 2023, after suffering a loss of €10 million in the same period last year. Key to the result was a significant increase in transfer revenues, with the profit from player trading reaching €39 million, up from €4 million in the first half of 2022/23.

Everton have announced a loss of £89.1 million for the year ending 30th June, 2023 as they await the outcome of a hearing into a second charge of breaching the Premier League’s profitability and sustainability (PSR) rules.

The Merseyside club have already suffered a six-point deduction this season, reduced from ten points following an appeal, which was for a PSR breach in relation to the three-year period ending 2021/22, and could face a second points penalty for a further alleged PSR breach over the period up to 2022/23.

Everton attended a three-day hearing in relation to the second PSR charge before an independent commission last week.

The loss for 2022/23 followed a deficit of £44.7 million the previous year. Turnover was £172.2 million, down from £181 million in 2021/22. The latest heavy loss was incurred despite a £47.5 million profit on player trading.

Everton said the key factor behind the decline in revenues was the loss of £20 million of contracted income after sponsorship deals with Alisher Usmanov’s USM and affiliates were indefinitely suspended. The Uzbek-Russian tycoon was sanctioned by the UK government following Russia’s invasion of Ukraine in 2022.

The accounts also showed that Everton’s wage bill fell from £162 million to £159 million, with operating costs totalling £213.1 million. Capital costs amounted to £210.9 million, highlighting the ongoing significant investment in Everton’s new stadium, which also increased the club's net debt to £330.6 million.

Moshiri seeks to reassure fans over 777 takeover

Meanwhile, Everton owner Farhad Moshiri has urged fans of the club to “bear with us” as the protracted sale of the club to prospective new owner 777 Partners enters “the home straight”.

Writing in response to questions from the Everton Fan Advisory Board (FAB), Moshiri and 777 replied to assure them the takeover will go ahead and that the delay was down to the Premier League’s “approval process”.

 

Nottingham Forest post £69.2 million loss for 2022/23

Nottingham Forest have revealed a £69.2 million loss for the year ending 30th June, 2023 despite earning record revenues of £154.9 million.

The accounts for the 2022/23 financial year, covering Forest’s first season back in the Premier League in 24 years, showed the club’s wage bill spiralled to £145 million, compared with £58.6 million the previous year.

Last month, Forest were handed a four-point deduction for a breach of the Premier League’s profitability and sustainability rules (PSR) in relation to the three-year period ending 2022/23, which they are to appeal against.

The loss for 2022/23 followed a deficit of £47.1 million the previous year, while the record turnover figure compared with £29.8 million in 2021/22, when the club won promotion from the EFL Championship.

Amortisation costs rise to £40.8 million

Revenues for 2022/23 were boosted by an increase in broadcast income following the club’s return to the top-flight, rising to £124.9 million, up from £12.3 million in 2021/22. Forest also doubled their commercial revenue from £5.7 million to £11.8 million, a figure which could have been even higher had the club found a front-of-shirt sponsor for the entirety of the season. Matchday income rose from £8.2 million to £11 million, while merchandise sales increased from £3.6 million to £7.1 million.

However, the sharp rise in the club’s wage bill was compounded by a rise in player amortisation costs to £40.8 million, up from £7.3 million the previous year, as the club spent heavily on new players.


 

Chelsea to replace Todd Boehly with new Clearlake chairman from 2027

Chelsea will appoint a new Clearlake Capital chairman in 2027 to replace Todd Boehly, The Daily Telegraph has reported.

The switch is not said to represent a vote of no-confidence in the work Boehly is doing, but it is understood that Clearlake, owned by Behdad Eghbali and Jose Feliciano, have already decided to take up the post at the earliest possible opportunity.

Under an extraordinary written agreement, Chelsea’s owners can pass the chairmanship of the club between them every five years. Boehly has been chairman since the current owners bought the club in 2022, meaning that Clearlake will have the opportunity to nominate their own representative in 2027.

Severe criticism

Boehly has faced severe criticism and scrutiny in his position as chairman, but it is believed he has no intention of standing down early from the role, in which he still has three years left to run.

Similarly, Clearlake have not been put off the chairmanship by the criticism Boehly has faced and will install their own man into the position in 2027.

It is not yet decided whether or not that will be Eghbali or Feliciano, who are co-controlling owners of Chelsea with Boehly, or whether they will appoint somebody else as their Clearlake chairman.

 

Birmingham City buy site from council to create new ‘multi-sports super stadium’

Birmingham City have acquired a 48-acre site for the creation of a “multi-sports super stadium”, triggering fresh speculation about the future of the club’s historic home at St Andrew's.

According to a report from Birmingham Live, the EFL Championship club have purchased the former Wheels Park at Bordesley Green from Birmingham City Council.

The council has not revealed details about the value of the sale and who is behind it, pending official confirmation, but in a public paper about the sale it describes the purchase as being motivated by a plan to create a “sporting centre of excellence” with “international significance”.

It is understood the plan involves creating a super stadium offering multi sports and other activities on the site. The venue, formerly known as Wheels Adventure Park, was home to motor racing and kart circuits before it closed down in 2021.

Different direction

Birmingham City have been linked to the site ever since it was brought back into council ownership in 2019. The club’s American owner Knighthead and its figurehead Tom Wagner have spoken of the emotional wrench that would come with leaving St Andrew's, Blues' home since 1906.

However, both Wagner and the company have outlined their wish to take the club in a different direction, exploring alternative sites and opportunities for an infrastructure which matches the ambitions of those at the top of the club.

Inter Milan has reported a significant financial turnaround with a 35 per cent increase in revenue and a net profit for the first half of 2023/24.

According to Inter's official statement, the club achieved a consolidated net profit of €22.3 million, a substantial improvement compared to the net loss of €63.5 million in the previous year, marking an increase of €85.8 million.

This positive outcome is attributed to a rise in revenues to €265.4 million, up by 34.6 per cent or €91.8 million compared to the same period last year. The growth was driven by player trading during the summer transfer window of 2023, which contributed €41.7 million.

Additionally, there was an increase in both broadcast and matchday income totaling €29.4 million. The club also saw enhanced sponsorship revenue, primarily from renewals with technical sponsor Nike and shirt sponsor Paramount+.

Loan to equity

Inter also announced further conversion of shareholder loans into equity amounting to €22 million effective March 31, 2024. This season, the majority shareholder has provided a total support of €98 million.

"FC Internazionale Milano expects to close the 2023/24 financial year with an improved consolidated result compared to the previous season," Inter stated. "The path of improvement of the Club's economic-financial situation, underpinned by a virtuous circle fuelled by positive results on and off the pitch, continues in a clearly defined way."

 

Reading's owner Dai Yongge in negotiations to sell

Reading FC's majority owner, Dai Yongge, has entered into negotiations to sell the League One club after committing to a letter of intent with a potential buyer. Dai, a Chinese businessman who took over in 2017, has faced ongoing protests from supporters throughout his ownership.

The club, which was relegated to the third tier in May, has experienced several points deductions under Dai's leadership. Although there were discussions about selling Reading's Bearwood Park training ground to Wycombe Wanderers, Dai has now shifted focus towards selling the entire club.

According to a statement released by the club, the parties involved will engage in exclusive negotiations to finalise terms, with the transaction expected to take up to two months. The deal would include the transfer of Dai's shareholding in The Reading Football Club Limited and assets such as the Select Car Leasing Stadium and Bearwood Park training ground.

18 points in deductions

Reading FC has also faced sanctions for management issues under Dai's tenure. In January, a suspended three-point penalty was imposed after a pitch invasion by fans led to the abandonment of a League One fixture against Port Vale. This incident was a protest against Dai's ownership.

To date, Reading has accumulated a total of 18 points in deductions and currently sits 18th in League One, narrowly above the relegation zone. Further updates on the sale process will be communicated when appropriate.

 

Sporting Clube de Portugal successfully completes public bond subscription

Sporting Clube de Portugal's corporate entity, Sporting SAD, has successfully completed its public bond subscription "Sporting SAD 2024-2027" with demand exceeding supply.

The operation secured the full bond loan of €50 million, with a total demand reaching €66.4 million, 1.33 times higher than the offer.

According to the club, the debt issuance attracted 4242 investors, a significant increase from the 2018 issue which had a demand of 26 million euros. Francisco Salgado Zenha, Vice President and Administrator of Sporting SAD, expressed gratitude to investors for their trust, highlighting the challenging macroeconomic environment and yet the successful outcome of the operation.

"Even so, I want to reiterate that this trust will oblige us to be ever better and more rigorous. We will not deviate from the line of financial rigor that has guided us from 2018 to 2024," said Zenha.

Flexibility in the transfer market

The bond, which aims to partially reimburse obligations from "Sporting SAD 2021-2024" and strengthen liquidity, will provide Sporting CP with greater flexibility in the transfer market. Zenha assured that this would allow for stronger negotiation power and earlier budget execution to ensure stability for Sporting CP's structure and football activities.

The "Sporting SAD 2024-2027" bond has a three-year term with an interest rate of 5.75%.

Real Madrid have reported a profit of €23.6 million for the first half of the 2023/24 season, despite a nearly 50 per cent cut in net results compared to the previous year.

The club's revenue has increased by 15%, reaching €461 million in December 2023, up from €400.9 million at the midpoint of the 2022-2023 season.

According to the financial statements released by Real Madrid, all revenue streams have seen growth – most notable commercial income which surged from €158.9 million to €180.6 million.

Billion ambition

The club have set an ambitious goal to reach a turnover of €1 billion this season. However, costs have also risen, including the wagebill climbing from €217.1 million to €228.5 million in first half of the year. On the other hand, player amortisation and depreciation decreased from €76.3 million to €63.4 million.

A significant factor in reducing profits was a massive decrease in profit on player sales dropping from €80.5 million to €19.7 million.

Real Madrid has added €370 million of debt to its balance sheet for financing stadium renovations over thirty years, with repayment starting on November 15, 2027.

 

AFC Bournemouth reports significant financial turnaround: Profit of £44.5 million

AFC Bournemouth have announced a profit of £44.5 million in their 2022/23 annual accounts, a reversal from the £55.5 million loss recorded in the previous year. This change is largely attributed to the club's return to the Premier League.

According to the club's statement, Bournemouth's focus during the financial year was on improving Premier League performance while maintaining financial stability. The club also continued its commitment to building a new training facility at Canford Magna, with an investment of £7.2 million made by June 30, 2023.

Turnover increased by £87.8 million to £141 million, primarily due to the club's Premier League status achieved in May 2022. The club’s wage bill also ballooned to £100.1 million from £61.4 million. However, the club still reported an EBITDA profit of £21.4 million.

Bournemouth’s operating profit before players but after amortisation stood £50.2 million, including a gain of £71.4 million recognized from the write-off of shareholder loans.

Small stadium size

Neill Blake, Bournemouth's chief executive, reflected on the importance of this financial year, highlighting owner Bill Foley's investment in the squad which contributed to securing their Premier League status for the 2023/24 season.

Blake emphasized the need for continued investment in both playing and non-playing staff and facilities to gain competitive advantages, especially given the club's relatively small stadium size and lower revenue streams compared to other teams.

Post-year-end, Bournemouth invested an additional £86.5 million on five players and sold two for £1.1 million.

 

Oaktree exits SM Caen ownership, Capton to reacquire full control

Pierre-Antoine Capton, co-owner of French football club SM Caen, has confirmed the exit of the American investment fund Oaktree from the club's ownership structure.

Oaktree had come to Caen's rescue in 2020 with a significant financial injection when the club was facing bankruptcy. They are now set to relinquish their stake, with Capton poised to reacquire full ownership, as reported by Ouest France.

Oaktree is also entwined with Inter Milan, having provided a substantial loan to Inter's parent company Suning Holding Group. This loan is secured against Suning's majority share in Inter, potentially allowing Oaktree to assume control of the Serie A club if Suning defaults.

"Like any investment fund, the challenge for them was to recover the money they had invested," Capton explained regarding Oaktree's departure from Caen. He continued, "We are finalizing the final details of an agreement."

Optimal solution

Capton acknowledged that Oaktree's exit was not part of the original plan for Caen but was necessitated by Oaktree closing their fund in Paris. Despite this setback, he is actively seeking new partners to ensure the club's future and uphold its ambitious goals.

Expressing gratitude towards Oaktree for their crucial support during a difficult period for Caen, Capton remarked, "They were there to save the club... They were not here to give gifts." He emphasized that Oaktree's primary objective was to find a financially optimal solution for their shares.

Leicester City have initiated legal action against both the Premier League and the English Football League (EFL), expressing their dismay at the measures taken by these governing bodies.

The club is challenging potential sanctions that could include points deductions from both leagues due to alleged financial irregularities.

According to a statement from Leicester City, who were relegated from the Premier League last season, the club are currently under a transfer embargo imposed by the EFL. The embargo is a result of accusations that the club exceeded the permissible loss threshold in their profitability and sustainability calculations for the 2023724 season.

Leicester City disputes "the EFL’s entitlement to impose this­ ­constraint" and deems it both "restrictive and premature" given that the accounting period in question does not end until June 30. The club faces the risk of a points deduction from the EFL unless they can generate significant income through player sales before this deadline.

Adding to their challenges, Leicester was charged on Thursday by the Premier League with breaching profitability and sustainability regulations (PSR), covering their last three years in the top division. Premier League rules allow clubs to lose no more than £105 million over a three-year cycle.

Any penalties related to this charge are expected to be applied next season and could be enforced by the EFL if Leicester fails to secure promotion back to the Premier League.

Desire for transparency

Leicester announced: "LCFC has been compelled today to issue two urgent legal proceedings against the Premier League and the EFL."

The club seeks resolution through an independent legal panel and emphasizes its commitment to ensuring any charges are "properly and proportionately determined" in line with applicable rules.

Leicester's statement also expressed a desire for transparency: "While LCFC would prefer the ­proceedings to be in public...the relevant rules require that these proceedings are conducted confidentially."

 

Ipswich Town secures major investment from Native American private equity firm

Ipswich Town have announced a substantial investment from Bright Path Sports Partners, a private equity firm that utilizes Native American capital. The deal, worth up to £105 million, grants Bright Path Sports a 40 per cent minority stake in the Championship club.

The club's majority shareholder, ORG led by Ed Schwartz, will maintain a 50 per cent controlling interest, while the remaining 10 per cent is held by smaller investors, including the Three Lions fund.

According to Ipswich Town's CEO Mark Ashton, the new partnership with Bright Path Sports will provide both capital and strategic insight, significantly benefiting the club. The investment aims to support Ipswich Town in the long term.

Ipswich Town are currently performing extremely well under manager Kieran McKenna at third spot at the Championship just one point short of a Premier League promotion spot.

Ed Schwartz commented on the partnership: "The club’s progress means we feel that time is now and we are excited to welcome Bright Path Sports.” Ashton highlighted immediate plans for the investment, including significant redevelopment of the club's Playford Road training ground.

Loss for 2022/23

Ipswich Town's accounts for the financial year 2022/23 show the club's losses increased on the previous year. Deficit went up more than £5 million from 2021/22, increasing from £12.8 million to £18.2 million.

That was largely down to increased costs, including a wage bill jump of more than £3 million - up to £19.8 million from £16.4 million in a season where the won promotion to the Championship.

 

Premier League "minded to approve" 777 Partners' bid for Everton

According to a letter viewed by Bloomberg, the Premier League board is inclined to approve the bid from 777 Partners LLC for Everton FC, provided the Miami-based investment group satisfies certain conditions.

The league has been evaluating the firm's takeover plans for over six months and is seeking assurances on funding for the club and the construction of a new stadium. The specific conditions that the league may require have not been disclosed.

The Premier League board, including CEO Richard Masters and other members, has yet to make a final decision. Both 777 and Everton have refrained from commenting on the matter.

The conditional approval doesn’t mean the multiclub-owner 777 is guaranteed approval, one of the people said.

Portfolio of clubs

In September, 777 announced an agreement to purchase a 94.1% stake in Everton from current owner Farhad Moshiri. Since then, the league has been assessing 777's suitability as owners of the historic Liverpool-based team.

The acquisition would add Everton to 777's portfolio of football clubs, which already includes Hertha Berlin and Standard Liege. However, 777 has faced scrutiny over its financial practices.

 

UEFA relaxes rules on multi-club ownership

UEFA has made a significant change to its rules regarding multi-club ownership, allowing teams owned by the same entity to compete in different UEFA competitions starting from the 2024/25 season.

This update could see clubs like Manchester United or Nice, both under Sir Jim Ratcliffe's INEOS, participate in separate European tournaments such as the Champions League, Europa League, or Conference League.

According to The Athletic, the changes are detailed in articles 5.04 and 5.05 of UEFA's competition regulations, effective May 1. Previously, clubs with common ownership were simply replaced by the next eligible team from their domestic league if they were blocked from competing in Europe.

Aston Villa and Brighton

This rule adjustment reflects a softening of UEFA's stance on multi-club ownership at a time when such arrangements are becoming more common. The integrity risks are heightened as UEFA's three men's competitions transition to single-table formats with 36 teams each.

Last summer, clubs like Aston Villa and Brighton had to ensure their owners reduced stakes in other clubs to below 30 per cent to participate in European competitions. UEFA has been dealing with multi-club ownership since the late '90s and previously established Article 5 in 2001 to address "control or influence" over multiple teams.

 

FC Barcelona considers significant investment proposal amid financial shortfall

FC Barcelona president Joan Laporta has revealed that the club is considering a significant investment proposal, as they seek to address the financial shortfall caused by the non-payment from investment fund Libero AG Football Finance.

In an exclusive interview with Mundo Deportivo, Laporta expressed confidence in meeting the club's budget for the current fiscal year, despite Libero's failure to pay €40 million for a stake in Barça Vision.

According to Laporta, there is a company "very interested" in acquiring up to 49% of Barça Vision, which is part of a broader plan to manage the club's digital assets, including NFTs, Web3, and the Metaverse. This comes as part of Barcelona's strategy to enhance its technological and digital assets through Barça Studios, with authorisation from the club's assembly to sell up to 49%.

The president of FC Barcelona explains that, currently, the Barça Vision pie is widely distributed between Libero, Socios.com and a group of companies. Likewise, the club's audiovisual subsidiary had planned to go public on the American stock market before 9 March, but, due to Libero's non-payment, the club postponed its move to the stock market.

On 12 September, the team chaired by Joan Laporta already informed the Securities Exchange Commission (SEC) of the New York Stock Exchange of the incorporation of several modifications to the framework contract signed a month earlier.

Trademark of Barca Vision

FC Barcelona brought in Libero Football Finance AG and private investment advisers Nipa Capital BV as new partners of Bridgeburg Invest, a trademark of Barça Vision. Part of the sale of the platform, which brings together the club's initiatives associated with Espai Barça Digital, was to involve a new injection of €120 million into the entity's finances.

Before 21 August, the club was supposed to receive the first €60 million, but only €20 million entered its coffers. Following the operation, FC Barcelona confirmed to the SEC that it has not received the remaining amount committed by Libero Football AG.

FC Schalke 04 have reported a profit of €6.9 million for the 2023 financial year, running from 1st January to 31st December, after posting a loss of €19.4 million for 2022.

The results marks the Bundesliga 2 club’s first surplus since 2018. Revenues in 2023 reached €168.3 million, up from €157 million the previous year.

Negative equity improved to €103.3 million, compared with €109.8 million in 2022, while net financial liabilities were reduced from €139.9 million to €128.5 million.

In a statement, the club said a key factor behind their return to profitability was an increase in matchday revenue after playing in the Bundesliga in the 2022/23 season. The club were relegated at the end of the campaign and are currently 14th in Bundesliga 2.

Schalke said the hosting of several large-scale events at the VELTINS-Arena without any Covid-19-related restrictions also boosted their income. However, it noted that “cost increases were particularly felt due to the effects of high inflation.”

“Clear sign of stability”

Schalke board member for finance Christina Rühl-Hamers said: “We are extremely pleased that – despite operating under challenging conditions – we were able to achieve the financial aims we had set for ourselves as planned.

“The club have managed to improve in several key financial areas. It sends a clear sign of stability for our fans, members and financial partners.”

Schalke have faced a series of difficulties over recent years, and last month fears over their future intensified after German media reports claimed they would almost certainly be denied a license to play in the third tier if they were relegated from Bundesliga 2 – effectively expelling them from Germany’s professional football leagues.

Everton hearing for second Premier League PSR breach to take place next week

Everton’s disciplinary hearing for their second breach of the Premier League’s profitability and sustainability rules (PSR) will take place next week, according to a report from The Daily Mail.

It is understood the independent commission judging the case, which relates to the three-year period ending 2022/23, is set to work over the Easter weekend in a desperate attempt to meet the Premier League’s strict timetable.

The league has committed to announcing a verdict on Everton’s second PSR charge by 8th April to reduce the chances of disputes over the case leaving them with a provisional table at the end of the season.

Everton have already been deducted six points this season for their PSR breach covering the period ending 2021/22, and will use the fact of that sanction as mitigation in their second hearing on the grounds that they have already been punished once.

Two-point reduction

Nottingham Forest were docked four points earlier this week for a £34.5 million spending breach over the period up to 2022/23.

Everton have pleaded guilty to their spending charge having initially denied the first charge last year, which it is hoped will earn them a two-point reduction from whatever penalty is imposed by the commission, as was the case with Forest.

Due to the significant overlap between the cases and the limited precedents elsewhere any appeal by Forest cannot be heard until the verdict of Everton’s second charge is published next month, which could leave the Premier League with less than six weeks to conclude two appeals before the end of the season.

The Premier League has set a backstop date of 24th May to resolve matters, but will be desperate for final verdicts in both the Everton and Forest cases to have been published a week earlier ahead of the final day of the season on 19th May.

 

German football clubs hit record revenue

According to the 2024 DFL Economic Report, German professional football has achieved record revenue figures, with the Bundesliga and Bundesliga 2 collectively generating over €5 billion for the first time. The total revenue of €5.24 billion for the 2022/23 season marks a 9 per cent increase from the previous high in the 2018/19 season, which stood at €4.8 billion.
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The report indicates a significant recovery from the economic impact of the COVID-19 pandemic, with approximately two-thirds of clubs reporting profitability—a notable improvement from 18 to 23 clubs year-on-year. 
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Employment within the Bundesliga has also rebounded to pre-pandemic levels, with 55,001 individuals employed in the 2022/23 season, compared to about 26,000 during the height of COVID-19 restrictions. 
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In terms of attendance, German professional football continues to thrive, setting a new spectator record in the reporting period and selling an all-time high of 10.28 million tickets in the first half of the current 2023/24 season.
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​Successful industry
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Hans-Joachim Watzke, Speaker of the DFL Executive Committee and Chairman of the DFL Supervisory Board, commented on the figures: “Not only do the Bundesliga and Bundesliga 2 offer outstanding sport... they also are and will remain a successful industry.”
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DFL Co-CEO Marc Lenz highlighted the sustainability and financial health of German clubs compared to other top European leagues, emphasizing that "Sporting success and attractive leagues must remain achievable with economic efficiency."

Fenerbahce to vote on Turkish Super Lig withdrawal after fan violence at Trabzonspor

Fenerbahce are considering whether to withdraw from the Turkish Super Lig following the unprecedented scenes after their away match with Trabzonspor on Sunday, when Trabzonspor fans attacked Fenerbahce players on the pitch.

Fenerbahce met immediately after the game and decided to call an extraordinary general assembly which will be held on 2nd April to vote on whether they should withdraw from the Turkish top-flight.

Fenerbahce were celebrating their 3-2 victory in Trabzon when supporters invaded the pitch, forcing the players to defend themselves. Fans could be seen throwing objects and attempting to kick and punch players following the final whistle.

Live coverage of the match showed at least one spectator brandishing a knife before attacking Fenerbahce’s Bright Osayi-Samuel, a Nigerian-British right winger, as the side gathered to celebrate their win. Osayi-Samuel and a security guard brought down the fan but tens of others jumped over stadium barriers to attack the players.

Turkey’s justice minister Yilmaz Tunc said in a post on X that 12 fans have been detained and 38 others who were identified to have been involved in the incidents will also be detained. He added that no players have been charged.

Fenerbahçe president resigns from Clubs Union Foundation of Turkey

Fenerbahçe president Ali Y. Koç announced in a statement that he has resigned from the Clubs Union Foundation of Turkey and is prepared to move his club into the country’s amateur divisions to help solve Turkish football’s numerous problems.

“As Fenerbahce, we have to draw our own fate, our own future. … We need to cut our own ties because this will continue like this,” he said.

“We will not accept this treatment in our own country. … Again and again, we shout out what is happening in Turkish football. We shout loudly about betting, match-fixing, unfair competition and referees.”

Infantino calls for immediate action

FIFA president Gianni Infantino has also called for immediate action following the scenes after Sunday’s match, and described the violence as “absolutely unacceptable – on or off the field, it has no place in our society.”

He added: “All players have to be safe and secure to play the game which brings such joy to so many people all over the world. I call on the relevant authorities to ensure that this is respected at all levels and for the perpetrators of the shocking events in Trabzon to be held accountable for their actions.”

Monza look set to have new majority shareholders, with the Italy-based holding company Orienta Capital Partners close to an agreement to buy shares “greater than 60 per cent” in the Serie A club, according to La Gazzetta dello Sport.

The deal is being described as the “end of the Berlusconi era” across media outlets in Italy, as it marks a takeover from the current ownership group Finnivest – a holding company that was set up and formerly headed by the ex-AC Milan owner and former Italian prime minister Silvio Berlusconi.

Finnivest, which is set to retain a minority stake in Monza following the takeover, completed its purchase of Monza in September 2018, and Berlusconi held the presidency until his death in June 2023.

Galliani to remain at club

Berlusconi was joined at Monza by AC Milan’s former CEO and vice-chairman Adriano Galliani, who is still Monza’s CEO and is set to remain with the club after the takeover.

Orienta Capital Partners’ acquisition of Monza has not yet been completed, but the report from La Gazzetta dello Sport indicated that negotiations were progressing well and smoothly.

 

VfB Stuttgart's executive board proposes working group amid power struggle

In the midst of an open power struggle at VfB Stuttgart, the club's executive board is taking action by proposing the creation of a working group. The board emphasizes the need for unity and constructive dialogue, especially as the club is on the verge of qualifying for the Champions League for the first time in 15 years.

Following the dismissal of Claus Vogt as Chairman of the Supervisory Board, and subsequent distancing from him by other members of the presidency, the executive board has now spoken out, calling for calm.

"Given that we are just nine Bundesliga games away from achieving something very big after many years, it is essential that we have a close alliance among all parties," said the executive board, which includes CEO Alexander Wehrle, Dr. Thomas Ignatzi (Finance, Administration and Operations), and Rouven Kasper (Marketing and Sales).

The proposed working group aims to address "existing issues related to future-oriented structural questions" across all roles, functions, and instances within the club. This includes discussions about the chairmanship of the Supervisory Board.

Future-proof regulations for VfB Stuttgart

The executive board has presented this proposal to various stakeholders within the club, including the Supervisory Board, Presidency, and Club Advisory Board. They also plan to incorporate perspectives from the Fan Committee, VfB Friends' Circle, and Statutes Commission.

The goal is to enable VfB members to discuss not only the issue of the Supervisory Board chairmanship but also to establish and adopt binding, future-proof regulations for VfB Stuttgart at the next general meeting.

"These regulations could then be incorporated into the basic agreement between e.V. and AG (registered association and corporation), or into the rules of procedure for the club's organs, depending on their nature and legal feasibility."

 

NWSL club San Diego Wave to be sold to Levine Leichtman family in $113 million deal

National Women's Soccer League (NWSL) club San Diego Wave is being sold by billionaire Ron Burkle to the Levine Leichtman family in a two-part deal that values the club at $113 million, according to a report from Sportico.

The deal, which is said to have already been approved by the league owners, marks the highest price ever paid for a controlling stake in an NWSL team, eclipsing the $63 million paid earlier this year for the Portland Thorns.

Sources told Sportico that Lauren Leichtman and her husband Arthur Levine, founding partners of Levine Leichtman Capital Partners, are paying $35 million now for 35 per cent of the team, and have agreed to buy the other 65 per cent for $78 million after the 2024 season.

The deal is understood to carry a weighted average of $113 million, although the valuation in the later transaction is $120 million.

$2 million expansion fee

It is believed that Burkle, who paid a $2 million expansion fee when the Wave joined the NWSL less than three years ago, will maintain control of the franchise until the second transaction occurs following the end of this NWSL season.

The second part of the deal is said to be a contractual obligation, meaning the buyers cannot choose to stop at 35 per cent.

Burkle said: “We are proud of the unprecedented success we have had as an expansion team and I am confident that [the Levine Leichtman] family’s investment will contribute to the growth of our team and the San Diego community.”

 

Newcastle United aim to speed up Dan Ashworth exit to Old Trafford amid compensation talks

Newcastle United want to speed up sporting director Dan Ashworth’s move to Manchester United amid ongoing negotiations over compensation, The Daily Telegraph reports.

Newcastle remain adamant they want a large compensation fee after losing one of their key appointments since the Saudi Arabian-led takeover, and the talks on the issue are said to remain a priority.

However, it is believed the club is willing to negotiate after it was revealed they were initially asking for as much as £20 million to reduce the length of Ashworth’s gardening leave.

Although the Newcastle hierarchy are extremely reluctant to let Ashworth – whose gardening leave is due to run until the end of 2025 – start work before the summer, it is believed they would consider a deal that will see him begin his new role at Old Trafford before the end of the year if Manchester United pay suitable compensation.

Paul Mitchell heads shortlist

The Telegraph also reported that Paul Mitchell is heading a shortlist of candidates to take on the sporting director role at Newcastle left vacant by Ashworth.

Mitchell, the former Southampton and Tottenham Hotspur head of recruitment, whose last job was sporting director at AS Monaco, is understood to feature prominently in discussions over Ashworth’s replacement.

The shortlist is also thought to include Brentford’s director of football Phil Giles, a boyhood Newcastle fan, West Ham United’s Tim Steidten, and former AS Roma sporting director Tiago Pinto, who has publicly expressed his interest in the job.