Sir Jim Ratcliffe wants Manchester United to create the “Wembley of the North” under ambitious plans for a spectacular new Old Trafford, The Daily Telegraph has reported.

According to the newspaper, the INEOS owner may ask the UK government for financial assistance to help build a new state-of-the-art ground for the club.

The British billionaire believes the North of England should have a world-class venue to rival London’s 90,000 capacity Wembley Stadium and could yet seek to lobby the government for funds amid Westminster’s “levelling up” pledges.

£237 million initial investment

Ratcliffe’s £1.03 billion deal for a 28.9 per cent stake in United is due to gain regulatory approval over the next fortnight and comes with a guarantee of an additional £237 million of initial investment for Old Trafford.

Sources close to Ratcliffe told The Telegraph: “He feels the club needs an absolute state-of-the-art, knock-it-out-of-the-park, ‘wow’ stadium. And we feel there’s a strong argument for the country having a top-class major venue in the North – a Wembley of the North.”

Ratcliffe is said to be broadly opposed to the idea of United having to relocate but believes supporters would be amenable to the idea of a world leading new stadium on land immediately surrounding Old Trafford, the club’s home for the past 114 years.

 

PSG stadium dispute: Paris mayor rules out Parc des Princes sale

The deadlock between Paris Saint-Germain and the French capital’s city council over the Parc des Princes looks set to continue after the mayor of Paris, Anne Hidalgo, appeared to rule out selling the stadium to the Ligue 1 champions.

In an interview with French newspaper Ouest-France, Hidalgo stressed that the City of Paris’ stance on the issue remains unchanged. “I’ll repeat it: we are ready to study and assist in the transformation of the Parc,” she said.

“I’ll also say this again today, and in good faith to everyone: there will be no sale of the Parc des Princes. It is the heritage of the Parisian people. The subject is closed.”

The Paris mayor’s comments come amid a breakdown in communications between PSG and the Paris town hall over the future ownership of the venue, with neither party having been in communication with the other for over a year.

PSG aspire to own their historic stadium, which they currently lease from the city council. However, the town hall has refused all offers from the club to acquire the ground, and said its estimates were far below what they would be willing to accept.

Last month it was reported that Hidalgo had asked the former French president Nicolas Sarkozy to help revive negotiations between the two parties, but that a message of reconciliation fell flat.

Nasser Al-Khelaïfi ultimatum

The Paris mayor’s latest comments also follow an ultimatum delivered last month by PSG president Nasser Al-Khelaïfi, who informed the city council publicly that it has three months to decide on whether to sell the Parc des Princes, and that otherwise the club will look to move away from the stadium.

It is understood that PSG are refusing to fund work on the Parc des Princes unless they can become the owners of the venue, and have been examining other options, including outside of Paris, with the site of a new stadium in the town of Montigny-le-Bretonneux currently being assessed by the club for its viability.

Last month, it was also reported that PSG have decided not to pursue a move to the Stade de France after withdrawing from the race to buy the French national stadium.

 

Premier League to use extra legal help amid high volume of PSR cases

The Premier League has been forced to recruit extra legal help as it attempts to process several ongoing cases related to its profitability and sustainability rules (PSR) ahead of strict deadlines, according to The Athletic.

Everton’s appeal hearing against their ten-point deduction handed out in November for breaching PSR took place last week, with a decision from the independent commission expected by the middle of this month.

However, further PSR cases against both Everton and Nottingham Forest are subject to strict timeframes outlined in the Premier League’s own regulations which it is not allowed to breach.

Those rules dictate that Everton’s second PSR case, alongside Nottingham Forest’s, must be concluded by 24th May – just under a week before the league’s AGM, a hard deadline where the next season’s shares are divided up.

The highly-complex case involving Manchester City, an ongoing investigation into Chelsea over possible breaches of financial regulations, and negotiations over the proposed financial settlement with the EFL are only adding to the workload.

External lawyers

It is understood that the Premier League usually engages external lawyers for significant matters usually the London-based firm Linklaters.

However, due tothe sheer volume of cases, as well as the constant need to keep on top of more ordinary regulatory matters, it is being forced to do this at an unprecedented rate, leading it to seek additional help.

 

Hull City post £21 million operating loss for 2022/23

Hull City have reported an operating loss of £21 million for the year ending 30th June, 2023, up from £7.9 million the previous year, as the club targets promotion back to the Premier League under owner Acun Ilicali.

The 2022/23 accounts, covering the first full year of Ilicali’s ownership, showed that turnover was £18.1 million, up from £15.4 million in 2021/22, reaching its highest level since the club's Premier League parachute payments ran out in 2019.

However, the club’s wage bill soared by 86 per cent on the previous year to just under £24 million – representing 131 per cent of total revenue. The increase is said to reflect Ilicali’s ambition of returning the club, who are currently in sixth place in the EFL Championship, to the top-flight.

Matchday revenue up 12 per cent

Hull’s accounts also showed that matchday revenue rose by 12 per cent to £6 million, boosted by the increase in attendances last season, while broadcast income climbed by £500,000 to £8.2 million, and commercial revenue almost doubled, rising to £3.9 million.

Player purchases totalled £8 million, while player sales rose to £15 million owing to the sale of Keane Lewis-Potter to Brentford.

FC Barcelona president Joan Laporta has said he wants a European Super League to get underway within the next two years, and has named 15 clubs he claims are “ready to join” the project.

In an interview with Catalan radio station RAC 1 on Friday, the Barça chief said: "It could exist as early as next season, or as early as the 2025/26 season.”

However, he indicated he would consider returning to the UEFA fold if the breakaway was not in place by then. “If not I will think about it because UEFA is also interested in keeping Barça in the ECA [European Club Association],” he said.

Along with Barcelona and Real Madrid, the clubs named by Laporta as potential participants in a European Super League are Inter Milan, AC Milan, Napoli and AS Roma from Italy; Olympique Marseille in France; Sporting Clube de Portugal, Benfica and Porto from Portugal; Ajax, PSV Eindhoven and Feyenoord in Holland; and Club Bruges and Anderlecht in Belgium.

He added that the competition may begin with a small number of teams. “It would be better with 16 [clubs],” he said. “In the 1955 European Cup, only a few teams took part and look at what kind of league it is now, the competition par excellence in Europe.”

“English clubs very much in favour”

Laporta also claimed some Premier League clubs privately support the vision for a proposed breakaway competition. He said the latest plans have attracted support from England and that according to A22, the company behind the project, “the English clubs are very much in favour [and] that it seems that all the club owners are interested.”

However, he added: “Whether or not the English come, I don't care. They already have a Super League with the Premier League.”

Laporta’s comments have come after A22 co-founder Anas Laghrari claimed last month that 20 teams around Europe had already agreed to join the European Super League project.

Plans unveiled by A22 CEO Bernd Reichart in December were swiftly rejected by several Premier League clubs including Manchester United, while Manchester City, Chelsea and Tottenham Hotspur also reaffirmed their loyalty to UEFA competitions.

Clubs deny involvement

None of the clubs named by Laporta during his RAC 1 appearance have said independently they favour the proposals for a European Super League, and since the radio interview several have strenuously denied they are set to join the project.

Among them are AS Roma, with the Italian club saying in a statement on Friday it “confirms that it does not support in any way any type of project attributable to the so-called Super League.” Feyenoord and Marseille also denied any interest in the competition.

 

Arsenal sell training ground naming rights to Dubai-based real estate firm Sobha Realty

Arsenal’s London Colney training ground has been renamed the Sobha Realty Training Centre after the club struck a naming rights agreement with the Dubai-based luxury real estate developer.

Sobha Realty has also become the training kit sleeve sponsor for the club’s men’s and women’s teams, and the Gunners said they will be able to call upon the firm’s expertise when developing the training ground.

The agreement builds on a partnership which first began last September when Sobha Realty secured naming rights to The WM Club – a premium match day hospitality suite at Emirates Stadium – which has since been redesigned and is now known as ‘The WM Club, Presented by Sobha.’

“Big ambitions”

Arsenal’s chief commercial officer Juliet Slot said: “Sobha Realty is a dynamic business with big ambitions. We’re excited to build on our partnership and tap into their extensive knowledge in property development.

“Their unrivalled experience will help us understand and explore the opportunities available to us, ensuring we’re always moving forward with world-class facilities for the future.”

 

Premier League January transfer spending plummets to £112 million over FFP fears

Premier League clubs’ transfer spending fell to just £112 million in January, down from £815 million last winter, with owners blaming increased scrutiny over the league’s profitability and sustainability rules (PSR) for the significant downturn.

Last year English top-flight clubs almost doubled the previous January record set in 2018 as Chelsea owners Todd Boehly and Clearlake Capital continued their spending spree, but the market was noticeably quieter last month.

The total amount spent was above the £70 million outlay in 2021 during the Covid-19 pandemic, but this year’s total passed the all-time low of £34.8 million set in 2010 only in the last few days of the window.

The £25 million spent by Tottenham Hotspur on the Romania defender Radu Dragusin was the highest fee this January. Loans were a key feature of the window, with Manchester United allowing 10 players to head out on that basis.

Greater reluctance to spend

Clubs increasingly prefer to wait until the end of the season to make big signings but it is understood there has been an even greater reluctance to spend in January following Everton’s 10-point deduction in November for breaching PSR.

Their appeal against that sanction began last week but the Merseyside club could face another punishment after being charged with a further breach along with Nottingham Forest.

A major shareholder of a top-flight side told The Guardian: “Everyone is worried about spending in a way I haven’t seen before because the Premier League never policed anything so closely until recently.”

FIFA president Gianni Infantino has said that the world governing body is actively assessing an algorithm to measure transfer fees, reports Senior Correspondent James Corbett.

Speaking by video link to the FIFA’s Football Law annual review conference in Tokyo, Infantino said that it was “fundamental” for a debate to happen about topics on FIFA’s regulatory agenda.

These included, he said, “the possibility of an algorithm to measure the fair value of transfer fees.”

Infantino said such a measure would “increase transparency in the transfer system and help the football stakeholders.” He said that the topic was one that would come under discussion at the Tokyo event.

“We want to encourage discussion and what this means in practical terms,” he said. “We present, we discuss, we analyse and we take valuable knowledge back home to all parts of the world.

“Now more than ever it is fundamental for us to talk about these topics, from agents regulations to legal proceedings to the transfer system and financial sustainability. They are topics for all of football.”

This is not the first time that FIFA has broached this topic, although it appears to be the first time that the FIFA president has discussed the idea. Three years ago Ornella Desirée Bellia, FIFA’s Head of Professional Football, floated the idea at the same event, but without offering further details.

“Big amendments”

At the same event on Thursday FIFA’s head of legal affairs Emilo Garcia said that there was likely to be “big amendments” to the FIFA statutes at this year’s congress.

“It is the first goal of the FIFA strategy for the next four years – revise the FIFA statutes and improve our regulations. If everything goes in the right direction we will see new FIFA statutes approved by FIFA Congress on 17 May 2024 in Bangkok.”

A stakeholder committee from all members of the confederations are discussing what these will look like.

“Many regulations that were perfectly adequate only a few years ago have since been overtaken by recent events and both FIFA and football must not get left behind,” added Infantino.

“This is why two of our eleven strategic objectives for the next four-year period concern legal matters. Number one to revise the FIFA statutes and improve our regulations, and number two to implement transfer system reform and address other governance related matters.”

 

FIFA warns agents that regulation is still coming – from them or elsewhere

FIFA has said that it if it is unable to regulate agent activity, national governments and the EU are likely to step in and do it for them.

In December FIFA was forced to suspend its much-heralded agent regulations (FFAR) after a glut of legal challenges and injunctions, casting doubt on their long term future. It is currently awaiting a European Court of Justice ruling on a case brought against the regulations in Germany before deciding its next move. A separate case brought against FFAR in England has effectively killed its reform in football’s richest market, and legal challenges elsewhere further imperil the regulations.

“The legislative climate in many countries around the world is still very critical of an unregulated agent market, in particular when it comes to agent fees,” Katie Devlin, FIFA’s deputy chief legal and compliance officer, told the world governing body’s Football Law annual review conference in Tokyo.

“Many state legislations already have caps introduced and more could follow. We also see a critical view towards agent activity in the EU’s recent anti money laundering legislation, which seems to cover agent payments within its remit.

“Therefore irrespective of the outcome of the ECJ the football industry cannot find a way to regulate agent activity it may end up happening at the level of individual member states. But who knows – I’m crystal ball gazing now.”

Commitment amid legal battles

Devlin said that despite the plethora of legal challenges it had faced, the world governing body would continue to “respond robustly” to future legal challenges. She emphasised that it was continuing to enforce regulations not covered by legal suspensions, such as licensing requirements and rules that protected minors.

She said that FIFA’s focus from a legal standpoint was now on the ECJ case, but added that “governments and institutions, including those who have been calling for FIFA’s intervention and the reform of agent regulations” were watching developments as well.

She suggested that predictions of FFAR’s demise were premature. “In conclusion, it’s about half time in the match,” she said. “It has been a scrappy first half, but there’s everything to play for in the second half.”

 

Real Madrid set to unveil €70 million per year shirt sleeve deal with HP

Real Madrid are set to announce a shirt sleeve sponsorship deal with technology company HP that could be worth as much as €70 million per year, according to Spanish media.

An announcement is due today, after the club teased fans on deadline day yesterday with a short video posted on X (formerly Twitter).

If the reported figure is correct, the value of the agreement would match that currently paid by the club’s front-of-shirt sponsor Fly Emirates, whose agreement is in place until 2026.

The deal with HP is set to begin from the 2024/25 season, and will mark the first time Madrid have had two shirt sponsors at the same time, aside from kit deals.

The agreement would also bring the total amount generated in shirt sponsorship by the club to more than $270 million. Most of that comes from their deal with kit manufacturer Adidas, which is worth €117.6 million per year, and lasts until 2028.

€1 billion revenue target

The deal with HP is said to provide a further boost as Los Blancos aim to reach a target of €1 billion in total revenues in 2024/25. The revamped Bernabéu is expected to generate extra income of €166 million.

Everton’s appeal against their ten-point deduction handed out in November for breaching the Premier League’s profitability and sustainability rules (PSR) will start today, with the final decision expected next month.

An independent commission imposed the penalty after accepting the Premier League’s argument that Everton had breached its rules for the three-year period ending 2021/22, by going £19.5 million over the permitted £105 million maximum loss. Everton accepted they were in breach, but by only £9.7 million and with mitigating factors.

According to The Times, the club are expected to argue that the punishment is disproportionate based both on the level of the breach and previous sanctions handed out for transgressions of other Premier League rules.

The appeal, which will finish on Friday, with the outcome due in mid-February, will be the end of the process as under Premier League rules there is no possibility of taking the case to the Court of Arbitration for Sport.

The appeal outcome will be particularly significant as Everton have been hit with a second charge for the period ending 2022/23, which should also be dealt with by the end of this season.

Premier League defends sporting sanction

The Premier League has strongly denied suggestions that the integrity of the independent commission that docked Everton ten points was compromised, and said the imposition of a sporting sanction was fair because of those clubs who abide by the rules.

The points were made in a joint letter from the Premier League CEO Richard Masters and its chairwoman Alison Brittain, in response to one sent to them by a trio of high-profile Everton supporters, including the former governor of the Bank of England Mark Carney, who branded the club’s points deduction “draconian”.

As reported by The Daily Telegraph, in its letter the Premier League claimed that Everton failed to curb spending during “many months” of warnings, continuing to spend “significantly on transfer fees and wages” even after the alarm was raised.

The letter added that“Everton was provided with complete transparency as to the board’s view on the appropriate sanction in this case.”

 

Manchester United set to appoint new director of football ahead of recruitment and scouting shake-up

Sir Jim Ratcliffe and his INEOS team hope to appoint a new director of football at Manchester United within the next few weeks and have whittled down the search to a couple of names, The Daily Telegraph has reported.

Newcastle’s director of football Dan Ashworth, the former Liverpool sporting director Julian Ward, Crystal Palace’s Dougie Freedman, and former Tottenham Hotspur head of recruitment Paul Mitchell, who went on to a similar role at AS Monaco, are thought to be among those whose credentials have been discussed.

Names from elsewhere in Europe have also been linked to the role, including Atletico Madrid’s Andrea Berta, Cristiano Giuntoli from Juventus, Lee Congerton at Atalanta, and Ricky Masara and Paolo Maldini, who left AC Milan last year.

The Telegraph also reported that the appointment is set to be made ahead of an anticipated purge of United’s existing recruitment and scouting operations, which have been under scrutiny for years.

Insiders have not ruled out those departments being gutted and redrawn as part of an overhaul. “I don’t think there are any sacred cows in this,” one source told the newspaper.

Berrada input

United announced the appointment of Manchester City’s former chief operating officer Omar Berrada as the club’s new CEO earlier this month.

It is understood INEOS wanted Berrada in place first so he could have some valuable input into the choice of director of football given their strong belief that the two men and the manager must “share a vision” and work as a “coherent whole”.

 

LaLiga delays release of final €350 million CVC payment to clubs

LaLiga is delaying the release of the last remaining payment of €350 million from the private equity fund CVC Capital Partners to its clubs as it wants them to present details of how they will spend it.

According to Spanish media reports, LaLiga has written to its clubs saying that "teams have to present a project with justifications that must be approved". Until that evidence arrives, the Spanish league will not disburse the final payment.

€2 billion for growth projects

LaLiga struck its agreement with CVC back in 2021. The firm agreed to invest a total of €2 billion into league-led growth projects in return for an 8.2 per cent share of LaLiga broadcast and sponsorship revenues.

Under LaLiga’s conditions for the project, clubs are permitted to spend up to 70 per cent of funding from the total investment on infrastructure and other growth initiatives, with 15 per cent for servicing debt, and the other 15 per cent for signing players.

 

Stoke City reveal £11.4 million operating loss for 2022/23

Stoke City have reported an operating loss of £11.4 million for the year ending 31st May, 2023, down from £18.2 million the previous year.

A profit on player trading of £15.3 million, up from £10.9 million in 2021/22, helped boost the EFL Championship club’s finances.

However, the club still incurred a net loss of £11 million. The deficit compared with a profit of £101.8 million in 2021/22, although that figure mainly arose from owners bet365 forgiving £120 million of historic debts that had accumulated in support of previous years’ investment and expenditure.

For 2022/23, turnover reached £31.2 million, rising by £30,000, while the club’s wage bill fell to £26.2 million, down from £32.7 million. The operating loss before player sales were included fell to £26.8 million, down from £29.2 million.

Stadium investment

The accounts also showed an £8.3 million net investment in Stoke’s stadium and training ground, including the completion of a refurbished supporters’ bar which reopened in November 2022 as Ricardo’s.

The club noted that this project cost in the region of £2.5 million and forms part of a £30 million five-year programme of investment to enhance facilities for players and fans.

“Replacing the floodlights in the summer of 2023, along with the Club’s announced plans for a Fan Zone at the stadium, form additional parts of that strategy,” it said.

 

FIGC forecasts €1.18 million profit for 2024

The Italian Football Federation (FIGC) has announced that its budget for 2024 projects a pre-tax profit of €1.18 million.

The budget, which has been unanimously approved by the FIGC Federal Council, forecasts EBITDA of €20 million, with an operating profit of €0.32 million and production value of €206.9 million, with sponsorship revenues set to reach a record high.

FIGC president Gabriele Gravina said: "The growth in the value of the federation's economic production at a time when qualification for the World Cup has not been achieved shows there is an emphasis on activity that aims at a different dimension than sporting results as an end in themselves.

“The sporting result remains fundamental to give enthusiasm, but we focus a lot on innovative and modern design".

Reforms to focus on sustainability

Gravina also commented on the ongoing discussions over reforms to the domestic game in Italy. He said summaries of the options being considered will be contained in a strategic plan for Italian football which Deloitte has been commissioned to produce. Gravina said he intends to present the plan to the Federal Council next month.

"The problem of the reform of Italian football is not only the reform of the championships," the president said. “And it amazes me that they continue in a superficial way to limit all the commitment I am trying to put in place to the format of the championship and the number of teams, whether they should be 20 or 18.

“The central theme is to secure and give meaning, perspective and content to that term so abused in recent times called sustainability.”

Andrea Agnelli, the former Juventus president, has revealed he held talks with Paris Saint-Germain president Nasser Al-Khelaifi over a new European competition months ahead of the botched launch of the European Super League in April 2021.

In an interview with The Financial Times, Agnelli – explaining his version of events surrounding the saga – said that other club owners had previously discussed launching alternative competitions.

He claimed that one project, known as ‘Bohr’, involved Al-Khelaifi. “I remember flying to Paris in the middle of Covid,” the Italian said. “Nobody around. Paris deserted. Me and Nasser have conversations about [a new tournament], saying we need change, because we don’t change, we’re dead.”

A spokesperson for Al-Khelaifi told The Financial Times that “he was open to reforming competitions but always within UEFA’s framework”.

Agnelli also commented on the latest plans for a new competition outlined by A22, the company behind the European Super League project, involving 64 men's and 32 women's teams playing midweek matches in a league system across Europe.

“Give us time to work,” he said. “It’s not like things happen as magic. We find ourselves in a b2b b2c situation . . . We need to find the clubs, which is the [business to business] part, because if we don’t have the clubs to participate within the competition, we can’t reach the c, the consumers.”

Return to Juventus not ruled out

Commenting on his former club, Agnelli – who has received a multi-year ban from holding positions in football – refused to rule out a return to Juventus. The Serie A giants’ former president resigned alongside the entire board of directors in November 2022 following the opening of a police investigation into allegations of false accounting and market manipulation.

Refusing to discuss the details of the ongoing legal case against him and former club executives, Agnelli said: “I remain convinced that everything we’ve done, we’ve done it by the book, according to the financial standards . . . I am super easy.”

 

Manchester United’s new CEO Omar Berrada insists off-field structure is crucial to performance on pitch

Revelations from Manchester United's new CEO, Omar Berrada, about some of the keys to the success of rivals Manchester City have given fresh insight into the potential change of direction set to take place behind the scenes at Old Trafford.

Berrada was poached from his role as chief football operations officer at the City Football Group earlier this month, and the appointment was said to underline the influence of Sir Jim Ratcliffe’s INEOS group at United following its purchase of a 25 per cent stake in the team.

In an interview with Berrada, published by The Financial Times over the weekend and conducted at City’s Etihad campus last November, laid out his operating principles that may hold clues to his approach at United.

“The commercial growth of the clubs is predicated or underpinned by success on the pitch,” he said. “If you have a really good business strategy alongside it, then it just turbocharges the growth off the pitch.”

His view is starkly different from the former United executive vice-chairman Ed Woodward, who once told financial analysts that “playing performance doesn’t really have a meaningful impact on what we can do on the commercial side of the business”.

“We’ve created a structure”

Berrada, who is now on gardening leave and is expected to officially begin work at Old Trafford this summer, emphasised that improving business performance can smooth out the cyclicality of football, allowing profits to be reinvested into the club, playing squad and facilities.

At City, he helped establish a framework that allowed the club “to make the right decisions and to take the emotions as much as we can out of those decisions,” he explained.

“Our job is to ensure that we’ve created a structure, this ecosystem around everything that we’re doing now to make it as consistent as possible so when there is a downwards cycle, we make it as short as possible”.

Berrada also stressed the importance of having a “football identity” on the pitch supported by a football director who understands a club’s playing style and has a “multiyear view” of what the squad needs to look like, and a coach and staff who believe in the approach.

 

Saudi official hints at desire to invest in Olympique de Marseille

Fresh speculation has emerged linking a potential Saudi move to buy Olympique de Marseille – as well as other French teams, such as AS Monaco – after an official from the country visited France last week.

Prince Abdullah Saad Abdulaziz Al Saud, a member of the Saudi royal family, during a visit reported to be on behalf of the country’s Public Investment Fund (PIF), told the French media outlet Carré that there may be interest in a possible takeover of Marseille or AS Monaco.

“I think it’s a good investment to invest in French football, maybe OM or Monaco,” he said. “Maybe in the second plan Saudi Arabia will invest. These are good teams, they can fight to be champions.”

Zidane ‘potential coach’ claim

Al Saud, whose authority is not known, did not specify whether he was speaking only on his own behalf or PIF. However, he went on to elaborate on the possibility of French legend Zinedine Zidane becoming the coach at Marseille if a takeover was to materialise.

"I don't know what's going on between Saudi Arabia and Zinedine Zidane about Marseille, but anything is possible,” he said. “Zinedine Zidane is a good coach and he's a legend, of course.”

There have been persistent rumours above a takeover of Marseille – including from Saudi Arabia – ever since the club was acquired by American businessman Frank McCourt back in 2016. However, McCourt has given no indication he wants to sell.

 

Jorg Schmadtke to leave sporting director role at Liverpool

Liverpool have announced that sporting director Jorg Schmadtke is to leave the club at the end of the January transfer window.

The club confirmed his departure on Friday, just hours after manager Jurgen Klopp announced his intention to leave Anfield at the end of the season.

Schmadtke was hired by Liverpool on an initial short-term contract last June. His appointment followed the departure of previous sporting director Julian Ward – who himself had replaced Michael Edwards only a year earlier.

Prior to Schmadtke’s arrival, Liverpool had already begun working on their potential summer transfer activity. The German then oversaw the window, including the signings of Dominik Szoboszlai, Wataru Endo, Ryan Gravenberch and Alexis Mac Allister.

Similar roles in Germany

Schmadtke previously held similar roles at German clubs Wolfsburg, Cologne, Hannover and Alemannia Aachen.

Commenting on his departure, he said: “Liverpool is a very special club so to have had the opportunity to work here has been a huge honour for me, even though I knew from the outset that it would only be for a short period.”

 

Mediapro loses Canada football rights amid legal dispute with governing body

Mediapro Canada has lost the broadcast rights for the Canadian Premier League (CPL) and the country’s home national team games over a legal dispute with the game’s governing body.

Canadian Soccer Business (CSB), the commercial arm of Canada Soccer and the CPL, has taken back broadcast rights to all of its properties over the dispute, with the parties now headed to court.

CSB has alleged that Mediapro “failed to meet significant contractual obligations, including defaulting on the majority of its rights fees due for 2023 and failure to secure broader audiences for Canada’s national team, the Canadian Champions, and the CPL.”

A key part of the dispute has been Mediapro’s inability to get Canada Soccer’s properties on mainstream media outlets other than Canadian telecoms firm Telus, with cable providers so far unwilling to host its OneSoccer platform on their services. CSB stated: “Our decision to pursue legal action was not one we took lightly, but we felt it was necessary to protect the tremendous investments we have made to build the game in Canada.

“By taking back full control of our rights we will immediately have the opportunity to do so with new partners who have the ability to reach larger audiences.”

Mediapro invested “more than $60 million”

Responding to the allegations, Mediapro said it had invested “more than $60 million to create an ecosystem for the Canadian game and its fans. … We believe that no entity has invested more in Canadian soccer than Mediapro.”

It added: “Despite the huge passion Canadians have for soccer, it has become clear that CSB has been and will be unable to fulfill its side of our commercial agreement. We have made best efforts to work with the CSB on a constructive path forward but have come to a position where we have no choice but to seek to terminate our agreement.”

UEFA president Aleksander Ceferin has claimed its disciplinary chiefs were “right” about Manchester City breaching its Financial Fair Play regulations when they handed out a two-year European ban back in February 2020 that was subsequently overturned.

In an interview with The Daily Telegraph, Ceferin was speaking for the first time since the Premier League revealed a date had been set for a hearing into its 115 charges against the Treble winners under its own rules.

Ceferin refused to be drawn on whether City – who deny any wrongdoing – should be stripped of titles if found guilty by an independent commission.

But asked if such a verdict would vindicate that of UEFA’s equivalent arm, the Club Financial Control Body, four years ago and the defence of its case at the Court of Arbitration for Sport (CAS), he replied: “We know we were right. We wouldn’t decide if we didn’t think we were right.”

Time barred

Ceferin stressed he respected the CAS decision, which overturned City’s suspension after ruling some of the evidence against them was time barred and that other accusations were unproven, while fining them €10 million for failing to cooperate with investigators.

“As a trial lawyer for 25 years, I know that, sometimes, you win a case that you are sure you will lose,” he said. “And, sometimes, you lose a case when you’re sure … You just simply have to respect in a serious democracy the decision of the court.”

He added: “I don’t want to speak about the case in England. But I trust that the decision of our independent body was correct.”

 

INEOS and Ratcliffe’s remit at Manchester United to extend beyond football operations

The remit for INEOS and Sir Jim Ratcliffe at Manchester United will reportedly include more than solely football operations, as initially outlined when the petrochemicals firm agreed to purchase a 25 per cent stake at the club last month.

According to The Athletic, United informed employees at an all-staff meeting held yesterday that INEOS and the Glazer family have reflected on previously agreed arrangements and recognised that the scope of the new investor’s influence will need to be more broadly defined.

It is understood Ratcliffe’s team will also liaise with the Glazers on business decisions as they, by definition, will impact the potential of football operations.

This will mean that the two ownership groups will need to align with one another on key decisions relating to the business, as dividing up affairs entirely is now felt to be unrealistic.

“Football first culture”

Those on the call, which was led by interim CEO Patrick Stewart, were also once again promised cultural change across United. Stewart emphasised the club is now committed to instilling a “football first culture”, in which all decisions made by the club hierarchy should be focused on “what’s best for football”.

However, the tone of the call was also said to convey that change is both necessary and coming, and this triggered some anxiety following previous reports that Ratcliffe wanted a review of the club’s staffing – an area that has long been considered by many in the industry as bloated.

Staff on the call, who spoke to The Athletic on the condition of anonymity in order to protect their jobs, interpreted the tone as one of change, with some fears that this may lead to a staffing review and potential job cuts.

 

Hellas Verona president Maurizio Setti’s appeal over police seizure of club’s shares rejected by court

The appeal of Hellas Verona president Maurizio Setti against the seizure of 100 per cent of the club’s shares by Italian police last month has been rejected by the Court of Review of Bologna, Italian media have reported.

The shares in the Serie A club controlled by their sole shareholder, Star Ball Srl, were seized by police as part of a bankruptcy investigation by the Italian law enforcement agency Guardia di Finanza, which was coordinated by the Bologna Public Prosecutor's Office.

The investigation found that Setti’s joint-stock company had gone bankrupt, but was previously a shareholder at the club, and that there were signs of misappropriation from the club’s current shareholders to the now bankrupt previous shareholding company.

Fake intra-group sale

In the proceedings that gave rise to the measure, Setti himself has also been investigated for fraudulent bankruptcy. The Hellas Verona owner has been accused of the fake intra-group sale of the club, which reportedly moved from H23 to Star Ball without consideration of money.

The reasons for the Bologna court’s rejection of Setti’s appeal have not yet been filed.

 

Laporta claims LaLiga has been “corrupted” over Real Madrid VAR controversy

FC Barcelona president Joan Laporta has claimed LaLiga has been “corrupted” amid the VAR controversy sparked by Real Madrid’s dramatic victory over Almería on Sunday.

In an interview with Catalan newspaper Mundo Deportivo, the Barça chief said he has made a formal complaint to the Spanish Football Federation (RFEF) after as many as three controversial calls went Real’s way during their 3-2 win.

Real Madrid TV, the club’s official media channel, has been posting videos criticising match officials and pointing out alleged mistakes made by them. Laporta said he had called on the RFEF to take action against the club for allegedly pressuring referees.

“Absolutely. That’s what I’ve told the president of the Spanish Federation,” he said. “He told me that what’s done is done and that they intend to take action.

“He also told me that the referees do not feel under pressure, he wanted to reassure me in this respect. I have absolute respect for the referees. I have said it and I say it unequivocally.”

He added: “But we are also seeing some situations that are worrying us a lot and if we continue like this, it will be very difficult for us to achieve our objectives. … You can’t adulterate the competition anymore with decisions like last Sunday’s at the Bernabéu.”

RFEF files police complaint over VAR leak

Meanwhile, the RFEF has filed a police complaint after audio of VAR deliberations in the match between Real Madrid and Almeria was leaked in the media.

Audio relating to a clash between Madrid winger Vinicius Junior and Almeria defender Alejandro Pozo was broadcast by online outlet Jijantes FC.

The audio seems to depict VAR official Alejandro Jose Hernandez Hernandez coming to the conclusion action should be considered against Vinicius Jr, without fully recommending to on-pitch referee Francisco Jose Hernandez Maeso that he do so.

In a statement, the RFEF said it was “extremely serious” that “audio-visual material” had been “extracted” and said it hoped “a response will be found as soon as possible to clarify responsibilities”.

 

Nottingham Forest face potential difficulties over lack of relegation clauses in player contracts

Nottingham Forest will face further financial challenges if they are relegated from the Premier League this season as many players in the squad do not have relegation clauses in their contracts, according to a report from The Daily Mail.

The newspaper has learned that a significant number of the 27 players who remain at Forest after signing since their promotion to the top-flight in May 2022 will not face mandatory pay-cuts if the club are relegated.

It is believed that Forest were able to insert relegation clauses into some of the contracts, but a number of players refused to accept them. As a result, the club will face significant liabilities if they go down at the end of the season, which is likely to result in a fire-sale of their highest earning players in the summer.

Fifty per cent pay cut

Relegation clauses are a common tool used by newly-promoted clubs to mitigate against the cost of returning to the EFL Championship. Although the level of pay cut varies it can be as much as 50 per cent.

Forest are currently four points clear of the relegation zone, but are facing the threat of a points deduction after being charged with breaching the Premier League’s profitability and sustainability rules last week.

Peter Lim, the owner of Valencia, has received a letter of interest from the club’s former vice-president Miguel Zorio offering to take over ownership of the LaLiga side.

In a statement, Zorio said he has organised the funding to buy out Lim’s €250 million shares via Madrid-based lender Toro Finance, and that the bid would share 51 per cent of the club’s shares among Valencia season ticket holders and fanbase within a three-year timeframe.

Zorio also claimed he would seek further investors to help financially boost the club, including from the city’s business community.

The former vice-president has previously submitted bids to Lim which have been swiftly rejected but this latest offer, which was sent to Lim late last month, has yet to receive an official response, although sources close to the club told The Athletic they remain sceptical as to how serious the offer is.

Supporter protests

Lim has been the subject of protests from Valencia’s fanbase in recent years. After taking over in 2014, supporters had hoped the Singapore-based businessman would restore the club, which thrived domestically and in Europe during the 2000s, to prominence.

However, Valencia’s ownership have continued to cut costs in recent seasons with diminishing returns on the pitch and their planned Nou Mestalla stadium has yet to be finished. Zorio’s bid has pledged to complete the project, which has estimated costs of €250 million, within three years if his bid is successful.

 

EFL chair Rick Parry: Premier League ‘yet to offer’ financial deal to EFL but have spent extra £500 million on wages

EFL chair Rick Parry has claimed the Premier League has prioritised wages over supporting the wider pyramid as frustration builds over the lack of progress towards a financial settlement between the two parties.

As reported by The Independent, Parry said this week that the top-flight is still yet to make an offer, saying it’s “clear that’s a matter of choice.” The EFL wants a 75-25 split of broadcast revenues, which it first offered to the Premier League back in 2021.

Speaking at an EFL dinner event, Parry said the Premier League has committed almost £500 millionextra to player wages rather than the £285 million to the wider pyramid from the deal presented in 2021.
“It’s quite telling to look at the four years since we’ve been at this – 2020 we really started saying we needed a fundamental financial reset,” he said.

“What’s happened since then? The White Paper published [in February 2023] established there was a £4 billion gap between the turnover of Premier League clubs and Championship clubs. By the time 2023 accounts are published, that will have grown to £5 billion.

“Secondly, if we look at where the Premier League sits with other European leagues in terms of competitive balance, we did some analysis in 2019 and we discovered that the Premier League was paying £1.6 billion more than the other four major leagues in Europe. That’s an enormous chasm. Since then, that gap has widened to £2 billion. They’re outstripping the opposition.”

“Regulator must have powers”

Parry also argued that the incoming independent regulator for English football must intervene over the issue if a deal is not reached with the Premier League.

“Football can’t do this. It needs an independent view,” he said. “The regulator must have powers not only to set the financial regulations but to also set redistribution levels. In terms of regulation, better distribution goes hand in hand. They are inseparable. You can’t have one without the other.”

The football governance bill is entering its “absolute final stages”, according to the UK government, with the expectation of being passed into law before Easter. It is said that will bring the establishment of a regulator with backstop powers to force the Premier League into a deal.

 

Bayern Munich technical director Marco Neppe to leave club by mutual consent

Marco Neppe is to leave his post as technical director at Bayern Munich by mutual agreement, Sky Germany has reported.

The 37-year-old was instrumental in the signings of Harry Kane and Min-jae Kim last summer, but it is understood he is now facing the termination of his long-term contract with the German champions, and “amicable talks” are said to be underway.

Neppe remained in office last year despite his long-time confidant Hasan Salihamidzic being dismissed as sporting director after Bayern clinched their 11th successive Bundesliga title. Since then, Neppe has been part of the transfer committee led by CEO Jan-Christian Dreesen.

Less decision-making power

It is believed that Neppe, who first joined Bayern as a scout in 2014, already had less and less decision-making power during the current transfer window, and the transfer of Eric Dier was handled by sporting director Christoph Freund.

Due to the departure of Neppe, it is believed Freund will now have even greater responsibility over transfers. Dreesen is also involved in negotiations with players from the current squad and possible new signings.

As reported last week, Max Eberl will join the team as the new sporting director from March at the latest and will then become Freund's superior. Meanwhile, it is understood Neppe has already received several inquiries from Germany and abroad.

 

DFL approves VfB Stuttgart 10.8 per cent stake sale to Porsche

The German Football League (DFL) has given the green light to the long-awaited deal for car manufacturer Porsche to acquire a 10.8 per cent stake in VfB Stuttgart. According to Kicker, the decision was taken yesterday after rigorous discussion among the DFL board.

The agreement was first unveiled last June, when the Bundesliga club announced a sponsorship package worth up to €100 million with Mercedes-Benz, Porsche and MHP.

However, a key part of the agreement – Porsche’s acquisition of a stake in the club for €41.1 million – was yet to be finalised. The sports car giant was due to complete the investment in two tranches, with the first in the autumn, and the second in early summer 2024. But the deal has been held up by a series of delays.

The key stumbling block centred around paragraph 8 of the DFL’s statutes, where point 6 states: "No one may be involved, directly or indirectly, with a shareholding of 10% or more of the voting rights or capital in more than one corporation of the licensed leagues."

The issue for Porsche’s investment in VfB Stuttgart related to Volkswagen’s 100 per cent ownership of the licensed GmbH (limited company) of VfL Wolfsburg, as Porsche and the Volkswagen Group are connected via Porsche Holding SE.

Fourth shareholder

Porsche is now set to become the fourth shareholder in VfB Stuttgart alongside the e.V., the Mercedes-Benz Group and Jako AG. However, once the deal with Porsche is complete the club can then sell a further 3 per cent stake, as the shares are diluted by each sale.

It is understood that Porsche's shareholding would then fall back to below 10 per cent, so the formal violation of the first part of paragraph 8.6 in the DFL’s regulations would only be on an interim basis, as VfB Stuttgart wants a buyer for the remaining shares in the medium term.

Dmitry Rybolovlev, the Russian billionaire owner of AS Monaco, has confirmed he is considering selling the club and has appointed the Raine Group to serve as a financial advisor during the process amid interest from potential buyers.

A statement from a representative of Rybolovlev’s family office issued yesterday read: “The majority shareholder of AS Monaco has decided to commence a process to explore strategic alternatives for its stake in the club after receiving unsolicited inbound interest.

“The majority shareholder has retained the Raine Group to serve as its exclusive financial advisor on this matter. … There can be no assurances that the strategic review will result in any transaction involving the club and we do not intend to make any further announcements regarding the strategic review at this time.”

Two offers from US investors

According to a report from French newspaper Les Echos, Rybolovlev – one of a few Russian tycoons not under sanctions, as he left the country over a decade ago – received at least two proposals to sell his stake from American investors last year.

Rybolovlev, who lives in Monaco and made his fortune in the Russian potash industry, acquired a 66 per cent stake in AS Monaco in 2011 for a token $1 when the club was in the French second-tier. The remaining shares are held by Monaco's ruling family, the Grimaldis.

Under the Russian’s ownership, the club have risen back from Ligue 2, and in 2016/17 won the Ligue 1 title and reached the Champions League semi-finals. Last year the team finished sixth in Ligue 1 and are currently in fourth place.

 

Sampdoria former trustee Gianluca Vidal submits court appeal to return club ownership to SSH

Gianluca Vidal, Sampdoria's former trustee, has submitted an appeal to the Court of Milan asking for the ownership of the club to be returned to Sport e Spettacolo Holding (SSH), the trust connected to former president Massimo Ferrero, Italian media have reported.

The Italian club were taken over by Aser Ventures, founded by the former Leeds United owner Andrea Radrizzani, and the London-based wealth management advisory firm Gestio Capital, led by Matteo Manfredi, last June.

Vidal’s request is the latest development in an ongoing dispute between Sampdoria’s old and new owners. In the appeal, the former trustee has requested the nullifying of the private deeds stipulated last June by SSH, together with the club itself, its parent company Blucerchiati Spa and the new owners.

The buyout by Radrizzani and Manfredi was completed more than 18 months after Ferrero resigned as president following his arrest by the Italian law enforcement agency Guardia di Finanza as part of an investigation into corporate crimes and bankruptcy.

During that intervening period, the legal ownership of the club was held in the Rosan Trust, led by Vidal, which is the sole shareholder of SSH. However, a dispute has emerged over recent months over the circumstances surrounding the sale of the club to Radrizzani and Manfredi.

The holding of Sampdoria in the Rosan Trust was part of a plan to use the funds from the sale of the club for the Ferreros' Roman concordats. However, questions have emerged over whether Vidal acted independently, and without involving the Ferreros' lawyers.

In his appeal to the Court of Milan, Vidal has requested the cancellation of the sale of the club and the return of control to SSH. He argues that SSH did not give its consent to the transfer of the shares, accusing Massimo Iena, sole director of SSH at the time, of having acted in "collusive competition" with Manfredi and Radrizzani, as well as Sampdoria.

The designated judge, Daniela Marconi, has set the hearing of the parties for 28th May.

Talks continue over financial settlement

In the meantime, lawyers acting for Manfredi and Radrizzani, and for Ferrero are continuing discussions in the hope of reaching a financial settlement between the parties.

It is expected the agreement would include the resolution of outstanding financial matters, including payments that Ferrero should have already received and which are still pending, as well as mortgages on Sampdoria’s old headquarters in Corte Lambruschini, and on the ownership of the ‘Baciccia’, the club crest.

Manchester United have pulled off a major coup by appointing Omar Berrada from Manchester City as their new CEO.

United have been looking for a CEO to succeed Richard Arnold, who left Old Trafford late last year ahead of INEOS owner Sir Jim Ratcliffe’s deal to buy a 25 per cent stake in the club.

The United hierarchy have been seeking a candidate with a proven track record in football as a priority, but also highly capable of running the business side. Berrada has excelled in those areas at City. He is currently the chief football operations officer at City Football Group.

A United statement said that Berrada’s appointment “represents the first step” of the club putting “football and performance on the pitch back at the heart of everything we do”.

"As one of the most experienced football executives at the top of European football, Omar brings a wealth of football and commercial expertise, with a proven record of successful leadership and a passion to help lead change across the club," it read.

After joining City from FC Barcelona in 2011, he worked as commercial director for City Football Marketing before being promoted to chief operating officer at City in 2016. At Barça he was a senior media business development manager and head of sponsorship.

Ratcliffe influence

Berrada was identified and pursued by INEOS but with endorsement from the Glazers in what was ultimately a joint decision. The move is said to underline the influence of Ratcliffe’s firm at the club.

 

Napoli president Aurelio De Laurentiis accused of false accounting over Victor Osimhen capital gains case

Aurelio De Laurentiis, the president and owner of Napoli, could face trial after being accused of false accounting by prosecutors following an investigation into the club’s use of capital gains.

According to Italian media reports, the Rome public prosecutor's office has concluded its investigation, which began last September, and informed De Laurentiis of the outcome. The activities of other members of the club’s board are also being scrutinised.

The case relates to Napoli’s €76.4 million signing of Nigerian striker Victor Osimhen from Lille in July 2020. As part of the deal, the Italian club sold four players to the French side for €20.1 million: goalkeeper Orestis Karnezis and academy players Claudio Manzi, Luigi Liguori and Ciro Palmieri.

Notably, none of the three academy players ever played for Lille, while Karnezis played just one game for the club in the fourth round of the Coupe de France. It is suspected that their transfer fees were overvalued in an effort to inflate capital gains.

Potential balance sheet fraud

Last September, Italy’s Financial Police, the Guardia di Finanza, gathered documents indicating that potential balance sheet fraud had taken place in relation to the Osimhen transfer and went on to inform Naples' public prosecutor’s office. The case was then moved to Rome.

Osimhen played a key role in Napoli’s first Serie A title win in 33 years last season, scoring 26 league goals. In December he signed a contract extension with the club up to June 2026.

 

Neymar transfer investigation: Nasser Al-Khelaifi lawyers file complaints for violations of secrecy

The French lawyers of Paris Saint-Germain president Nasser Al-Khelaifi have filed a series of complaints with the Paris prosecutor’s office denouncing alleged violations of the secrecy of ongoing investigations into the club and the Qatari businessman.

The move has come after French media reported last week that police had searched the country’s finance ministry following allegations of favourable tax treatment granted to PSG over their signing of Neymar from FC Barcelona back in 2017 for a world-record fee of €222 million.

On Friday, Renaud Semerdjian and Francis Szpiner, legal advisers for Al-Khelaifi, released a statement sent to L'Équipe, which read: "We deplore the orchestrated, oriented, fragmented and truncated violations of professional secrecy and the secrecy of the investigation which have the sole objective of distorting the reality of the facts and putting pressure on the justice system and on public opinion.

“For several weeks now, we have seen numerous publications in various media outlets containing a biased selection of elements and documents based on current information.”

The lawyers also stressed that their client is a "civil party" in the judicial investigation, and is "the victim of attacks on the dignity of his person and his reputation."

Last week’s police raid is said to be part of a larger investigation carried out since September 2022 centred around the operations of PSG’s former director of communication Jean-Martial Ribes.

Ribes, who was in the role from 2017 to 2022, is facing numerous charges, including that he used his position at the club to gain sensitive information for both PSG and personal advancement. He denies the charges against him.

Kidnapping and torture accusations

In a separate case, three investigating judges in Paris were appointed last year to examine accusations of kidnapping and torture against Al-Khelaïfi made by Franco-Algerian lobbyist Tayeb Benabderrahmane.

Benabderrahmane filed a complaint stating he had been tortured in Qatar in 2020 for being in possession of documents containing compromising information on Al-Khelaifi. In April 2023, Semerdjian and Szpiner announced a defamation lawsuit after the lobbyist made statements to the media.

The PSG president – who is also chairman of the European Club Association (ECA) and holds a place on the UEFA Executive Committee – is the target of two other investigations for concealed work following complaints from his former butler Hicham Karmoussi and another of his former advisers.

 

Telefonica secures LaLiga domestic TV rights up to 2026/27 in €1.29 billion deal

LaLiga has re-awarded domestic broadcast rights to Telefonica in a deal worth €1.29 billion that will run from the second half of the 2024/25 season to the end of the 2026/27 campaign.

The telecoms giant will show the games via its Movistar Plus platform. The contract covers five of the 10 LaLiga games per week during the latter half of the 2024/25 campaign and the following two seasons, as well as three full game weeks in both 2025/26 and 2026/27.

The agreement means Telefonica will continue to share the rights with DAZN. The original deal struck by the two partners with LaLiga in December 2021 ran up until the end of 2026/27. However, the rights were then re-tendered following an intervention from the Spanish competition regulator (CNMC).

The watchdog successfully argued that at the time of the initial five-year deal, Telefonica should not have been allowed to buy rights for more than three years due to its ownership of the satellite TV business Digital Plus.

New tender process

After those restrictive term limits were dropped when the regulations changed last year, Telefonica was able to take part in a new tender process and has now brought the deal up to the same length as LaLiga’s agreement with DAZN.

In August, Telefonica retained exclusive rights to show Champions League matches in Spain for three years running from 2024/25 to 2026/27 in a €960 million deal.

The Glazer family will have the power to sell Manchester United to another buyer – and oblige Sir Jim Ratcliffe to sell his 25 per cent stake in the club – after an 18-month window has passed, the club’s latest filings to the U.S. Securities and Exchange Commission (SEC) have revealed.

Ratcliffe has formally submitted his tender to buy 25 per cent of the shares in United for $1.64 billion (£1.3 billion), but the tender document also includes clauses laying down the rules on a future sale of the club.

The document outlines a “drag-along right” for the Glazers, which states that under the deal with the Ineos owner, the American family are not allowed to solicit or encourage new offers for the 12 months after his tender offer is completed on 13th February. However, once 18 months has passed, they can sell the club outright and require Ratcliffe’s Trawlers Ltd company to sell all its shares to a new buyer.

Ratcliffe threat to walk away by Christmas Day

United announced on Christmas Eve that Ratcliffe had agreed to buy the 25 per cent stake and would invest $300 million into the club’s infrastructure. That extra investment means he will take more equity in the club that will bring his overall shareholding to 28 per cent.

However, the filings also revealed that Ratcliffe warned he would call off talks over the deal by Christmas Day should his proposal not be accepted.

The SEC filing details an “informal” board meeting between United’s directors on 22nd December, where they had a “robust” discussion following a threat from Ratcliffe to walk away from the table if they were not prepared to accept his proposal by 25th December.

A line in the documents states: “Offeror was not prepared to accept any other changes proposed by the non-affiliated directors, and gave Manchester United a deadline of December 25, 2023 to accept its best and final proposal.”

Seemingly alarmed by Ratcliffe’s stance, the club called a board meeting on 24th December and voted through the British billionaire’s proposal.

Questions over Sheikh Jassim offers

The SEC filing also highlights the concern over Sheikh Jassim’s proposal to buy all of the shares in United, with the document revealing that he did not once provide copies of financing commitment letters despite being asked to do so several times.

The Qatari’s first offer, lodged in February, included the acquisition of all the shares at a “price of $25 per share”. He increased his offer to $28.54 per share in April before revising that with an improved bid of $30 per share in May.

After United informed Sheikh Jassim that they would “consider a price of $35.25 per ordinary share” as he did not have “sufficient support to proceed”, he returned in June with a new offer for the acquisition of all of the shares, which priced Class B shares at $34 per share and Class A shares at $24.81.

The filing notes that this was “$5.20 less than the per Class A Share consideration in May”. Despite subsequent talks, Sheikh Jassim withdrew from the process in October without ever showing proof of funds.

 

Neymar-PSG transfer investigation: French finance ministry searched over allegations of favourable tax treatment

French police have searched the tax administration offices of the country’s finance ministry over allegations of favourable treatment granted to Paris Saint-Germain over their signing of Neymar back in 2017, French media have reported.

The Brazilian star joined PSG from FC Barcelona for a world-record fee of €222 million. Officers with anti-corruption units reportedly carried out the searches on Monday, amid suspicions that PSG may have received favourable tax treatment as part of the transfer.

The raid is said to be part of a larger investigation carried out since September 2022 centred around the operations of PSG’s former director of communication Jean-Martial Ribes.

Ribes, who was in the role from 2017 to 2022, is facing numerous charges, including that he used his position at the club to gain sensitive information for both PSG and personal advancement.

Potential “tax advantages”

Among the allegations are that Ribes sought the advice of then-vice president of the National Assembly Hugues Renson on potential “tax advantages” that could be found for the Neymar transfer.

Renson claims to have consulted former minister of public accounts Gerald Darmanin over the possible taxation the deal would undergo. Ribes, who resigned from his position in May 2022, denies the charges against him.

 

Blackstone and CVC to compete for Bundesliga media rights business stake

The race to acquire a share of the Bundesliga’s media rights business has come down to a two-way battle between the private equity firms Blackstone and CVC, the German Football League (DFL) has announced.

The number of companies in the process has been reduced from three to two following a unanimous vote of its executive committee, the DFL said. It means that Swedish firm EQT has been eliminated from the bidding.

The league added that a due diligence process and further examination of the potential value to the Bundesliga presented by Blackstone and CVC will now be carried out in the coming weeks.

It is understood the DFL has been seeking offers of between €900 million and €1 billion for a maximum stake of 8 per cent in its media rights unit. The successful bidder will hold the TV, advertising and digital rights to the Bundesliga for 20 years.

The number of interested parties was reduced from five to three in December, with the remaining firms then revising their initial offers submitted in November and tabling new bids earlier this month.

Narrow vote

The 36 clubs in the Bundesliga and Bundesliga 2 narrowly voted to allow the DFL to negotiate with private equity investors over the sale of a stake in its media rights business at its general assembly on 11th December.

Twenty-four clubs voted in favour – just one more than the required two-thirds majority. Ten clubs opposed the move, while two abstained during the secret ballot.

 

777-owned Standard Liege face legal action from Newcastle midfielder for alleged unpaid wages

Standard Liege, the Belgian club owned by the prospective Everton buyer 777 Partners, have come under fresh scrutiny after the English midfielder Isaac Hayden said he will initiate legal proceedings against the club, alleging it failed to pay his wages on time.

The Newcastle United player moved on loan to Standard Liege in September, after agreeing to join until the end of the season.

However, the Jupiler Pro League club released a statement on 11th January stating that Newcastle had “activated the recall clause” to bring Hayden back to St James’ Park and wished him “all the best for the rest of his professional career”.

Hayden claims there is a different reason for his early return, though. In an interview with Belgian journalist Sacha Tavolieri, he said: “The main reason why I left Standard Liege is that the club does not pay salaries on time and does not pay them.

“I will now initiate legal proceedings against the club to obtain the wages that Standard Liege owes me. For example, I received my November salary on December 28.

“They also didn’t pay the players’ bonuses and now the December salaries haven’t been paid and we’re almost at the end of January… it’s a real disaster!”

A spokesperson for Standard Liege said: “It would be misleading to claim that the reasons for Isaac’s departure were purely financial, but we wish him well with his future career.”

Brief transfer ban

The Belgian FA briefly imposed a transfer ban on Standard Liege in December, reported to be for delays in paying transfer fees as well as missed social security payments. A Belgian FA statement said the ban was lifted when 777 sent “the necessary funds to regularise the situation”.

 

Middlesbrough losses ease to £6.4 million for 2022/23 after player trading boost

Middlesbrough have reported a loss of £6.4 million for the year ending 30th June, 2023, after suffering a deficit of £19.5 million in 2021/22.

A key factor in the improved result was a profit of £22.3 million on player sales, up from £1.4 million the previous year. Turnover, not including player trading, reached £28.6 million, compared with £26.9 million in 2021/22. However, the club’s wage bill again exceeded its income, with salary costs rising to £29.6 million, up from £28.4 million.

After a difficult start to the 2022/23 season Middlesbrough recovered to finish fourth in the EFL Championship and reached the play-offs, where they were beaten by Coventry City in the semi-finals.

For the 2022/23 financial year, matchday income was £8.8 million, up from £6.4 million, while broadcasting revenues remained roughly the same on £9.5 million, compared with £9 million the previous year.

The club also earned £7.8 million in commercial revenue (£6.6 million in 2021/22), £332,000 from cup competitions (£3 million), and £2.2 million in merchandising sales (£1.8 million).

Beyond its main revenue streams, the club received £1.2 million from the Premier League towards running its youth academy, and £2.7 million from a legal settlement.

Chairman Steve Gibson’s support key to club’s survival

The accounts also showed that liabilities climbed to £136.4 million, up from £131.9 million, and highlighted how the club’s continuing survival depends on the support of chairman Steve Gibson’s Gibson O’Neill company. Separate accounts showed a rise in revenues and profits for that firm.