The Premier League has reportedly scheduled a summit with its clubs for 12th December to discuss progress towards a 'New Deal' for English football after a meeting last week ended without a resolution.

Sources told Sky News that next month’s gathering would discuss the potential funding of the deal, which could be worth more than £900 million to English Football League (EFL) clubs over a six-year period.

The Premier League is said to be scrambling to gain approval for what would be a landmark financial distribution agreement with the lower leagues.

It is understood that revised rules on player amortisation and a potential funding deal for women's professional football will also be on the agenda.

However, changes to associated party transaction (APT) rules to prevent player loans between associated clubs in different leagues, which were vetoed at last week's meeting, have been excluded.

Divisions on critical issues

The scheduling of the meeting is said to underline growing pressure on the Premier League board to reconcile emerging fractures on critical issues of financial and sporting integrity.

A number of club executives are believed to have become increasingly alarmed about the approach to tackling differences on the APT reforms and other issues.

There are also said to be deep misgivings over the negotiation of the New Deal with the EFL, in particular among some clubs outside the ‘big six’, who have warned that the settlement could cause serious financial damage to them.

Women’s Super League and Championship clubs agree on NewCo to run top tiers from 2024/25

The English Women’s Super League and Women’s Championship have reached an agreement to proceed with a new company that will take over the running of the women’s professional game in the country from the 2024/25 season.

As reported by The Athletic, under the agreement to establish ‘NewCo’ WSL clubs will receive 75 per cent of the combined revenues from the two divisions and WSL clubs will have all the voting power on commercial and broadcast matters.

All 24 clubs backed the measures after WC clubs had rejected the proposals earlier this month. Clubs had been unable to reach an agreement over voting power on certain matters regarding how NewCo will function.

Of the 12 WC clubs, 11 rejected the initial agreement. Crystal Palace chairman Steve Parish led the opposition and only Charlton, who currently top the WC, voted in favour. However, after the initial vote, the English FA gave WC clubs an ultimatum: back NewCo or WSL clubs may go alone.

Nikki Doucet appointed NewCo CEO

Nikki Doucet, a former Nike director and investment banker, has been appointed NewCo’s CEO, and will take up her role with immediate effect.

The FA has run the WSL since it was formed in 2010, and the Championship since it was established in 2014. Last July, the association announced its desire for the WSL and WC to become an independent entity instead of being solely owned by the FA.

Napoli have reported bumper financial results for the year ending June 30th, 2023 after winning their first Serie A title in 33 years, with a record profit of €79.7 million following a deficit of €51.9 million the previous year, according to Calcio Finanza.

That is also the highest ever recorded net profit in Serie A - beating their own record from the 2016/17 season. Figures very much align with Off The Pitch's financial forecast published in October.

Total turnover including player income amounted to €359.2 million, compared to €175.9 million in 2021/22, with broadcast income reaching €160.9 million, up from €89.9 million the previous year.

As well as the club’s domestic triumph, the huge leap in media rights revenues was driven by the team’s run to the Champions League quarter-finals, after competing in the Europa League during the previous campaign.

Of the total broadcast revenues in 2022/23, €78.7 million came from Serie A and €76.7 million from UEFA, compared with €68.2 million from Serie A and €15.5 million from UEFA in 2021/22.

Matchday revenues also increased significantly, rising to €37.9 million, up from €12.1 million the previous year, while commercial income reached €58.6 million, compared with €37.2 million in 2021/22.

Player sales on the climb

Profit on player sales amounted to €79.6 million compared to €10.8 million in 2021/22.

Player sales in 2022/23 included those of Kalidou Koulibaly to Chelsea for €41.9 million, Fabian Ruiz to Paris Saint-Germain for €22.5 million, and Andrea Petagna to Monza for €10 million.

Napoli’s costs remained broadly stable, amounting to €242.5 million, up from €241.1 million in 2021/22. The club's wage bill fell to €111.2 million, compared with €130.3 million in 2021/22, with player salary costs declining to €89.7 million, down from €109.7 million the previous year.

LFP ratifies agreement with CVC amid Le Havre opposition

The LFP has formally ratified its agreement with CVC Capital Partners struck last March amid the ongoing legal controversy surrounding Le Havre’s opposition to the deal.

In a statement, the LFP said that at its general assembly held last week clubs voted overwhelmingly in favour of the key aspects of the deal, which saw CVC acquire a 13 per cent stake in the LFP’s media rights business worth €1.5 billion.

Each issue related to the agreement was approved, with at least 97 per cent of the clubs and other football stakeholders voting in favour. However, as reported by L’Équipe, many more clubs abstained compared to the vote held on 1st April last year when French teams initially approved the deal.

The official ratification of the agreement has come despite legal objection from Le Havre, who claimed the deal unfairly disadvantaged them following their promotion to Ligue 1, as they received less financial gain than if they had remained in Ligue 2.

Le Havre were among only a handful of clubs, also including Ligue 2 club Paris FC, to oppose the move to ratify the CVC agreement. Le Havre’s legal challenge to the deal is set to be reviewed by the Paris Judicial Tribunal today.

European Super League clause

Meanwhile, it has been reported that the LFP’s contract with CVC contains a number of stipulations, including a safeguard against the European Super League.

According to L’Équipe, CVC pushed the inclusion of a clause stating it should be compensated if a French team decides to participate in the Super League. Under the agreement, the LFP would have to return in full the €1.5 billion paid by CVC if a French club decided to participate in a breakaway competition.

 

Borussia Dortmund CEO Hans-Joachim Watzke backs DFL’s new plan for external investment

Hans-Joachim Watzke, the CEO of Borussia Dortmund, has underlined his support for the DFL’s latest attempt to attract external investment into the Bundesliga and said if a deal was secured it could help drive significant growth for the club.

The DFL is planning to approach investment firms about a deal worth between €900 million and €1 billion for a stake in the Bundesliga’s media rights business and clubs are due to vote on the plans next month.

As reported by Kicker, Watzke told the Borussia Dortmund shareholders' meeting that "a significantly expanded internationalisation" could be a growth driver "without selling the values of German football.”

He said a deal with an external investor would give clubs the funds needed to increase their activities overseas and capitalise on the interest in the Bundesliga abroad, but stressed that certain initiatives would not be wanted.

"This is not a sale of the Bundesliga. Nothing is being sold," he said, before appealing for trust and listing moves that he hoped would be off the agenda. "We don't need a Super Cup in Saudi Arabia. We don't need any extra kick-off times. No partner can demand that from the DFL. We are autonomous in this respect," he said.

Support for expanded Champions League

Watzke said he also believes the new Champions League format to be introduced from 2024/25 will benefit Borussia Dortmund and other German clubs. The CEO estimates Dortmund will earn an extra €18-20 million compared with the current format if they qualify.

"In Germany, we have to be careful that we don't reject everything just because it's new,” he said. “I think the new format is much more interesting and exciting. There are eight different opponents in the group stage."

 

DFL invites five investment firms to bid for media rights business stake

The DFL has invited five investment firms to apply for a stake in the Bundesliga’s media rights business as its latest attempt to attract external investment into German football continues to move forward.

According to a letter sent by the DFL to Germany’s 36 professional clubs, which has been seen by Reuters, the potential strategic partners being considered are Advent, Blackstone, Bridgepoint, CVC and EQT.

Sources told Reuters that the DFL expects preliminary bids from at least four of the investment firms at the beginning of December.

In the letter sent to clubs, the DFL said bidders would be expected to pay between €900 million and €1 billion to the league over the next few years. The DFL added that such a deal could help strengthen the Bundesliga’s media product and expand its digital and international business.

Maximum stake to be 8 per cent

It is understood the maximum stake available in the newly founded marketing company is 8 per cent, and that the successful bidder will hold the television, advertising and digital rights to the Bundesliga for 20 years.

The DFL is to hold a vote among the 36 clubs in Germany’s top two divisions over the plans at its general assembly on 11th December. A two-thirds majority is required for the process to proceed.

 

Proposed purchase of Women’s Championship side Lewes FC called off as men’s team left out of deal

The proposed multi-million pound purchase of English Women’s Championship side Lewes FC by the investment group Mercury/13 has been dropped over a conflict with the club’s principle of funding their men’s and women’s teams equally.

In a statement, the club said: “Lewes FC & Mercury/13 have mutually decided to bring conversations about a potential investment partnership to an end.

“After a mutual diligence process, the parties have agreed that the club’s foundational principles diverge considerably from Mercury/13’s operating priorities, which makes a partnership challenging at this time.”

In August, Mercury/13, led by Greek-Argentine businesswoman Victoire Cogevina Reynal, had entered into a period of exclusivity in its negotiations to become the new majority owner of Lewes’ women’s team.

In 2017, Lewes became the first club in the world to divide their budgets for men’s and women’s football equally and are currently owned by 2,573 fans.

At a vote last month among those fans over whether or not to move forward with discussions around the proposed investment, 67.8 per cent of those who voted were in favour of the proposal.

However, the turnout was just 42 per cent, and according to The Daily Telegraph there were concerns at Mercury/13 that there was not a clear majority of support for the idea across the club’s existing ownership.

Mercury/13 aiming to invest $100 million in women’s teams

Mercury/13, whose members include former England forward Eniola Aluko, is aiming to invest $100 million into women’s football clubs worldwide. Sources told The Daily Telegraph that the group still intends to buy a women’s club in England, and will now discuss alternatives.

Inter Milan have recorded total revenues for the three months ending 30th September, 2023 of €166 million, 56 per cent higher than the income earned in the first quarter of the previous year.

The increase was mainly due to the capital gains generated from the sales of goalkeeper André Onana for €51 million to Manchester United, and Croatian midfielder Marcelo Brozovic, who was signed for €17.5 million by Saudi Pro League club Al-Nassr.

Inter’s performances on the pitch have also contributed to the strong financial performance. The club are currently top of Serie A and have already qualified for the last 16 of the Champions League.

UEFA media rights revenues for the first quarter reached almost €41 million, compared to just over €39 million in the corresponding period last year, despite playing one fewer match.

Big increase in sponsorship revenues

Revenues have also been boosted by a significant increase in commercial income. Inter have projected that sponsorship revenues will rise to €71 million for the 2023/24 financial year, up from €54 million in 2022/23.

Towards the end of last season, the club agreed a new front-of-shirt sponsorship deal with the American streaming service Paramount+. The agreement followed the suspension of Inter’s deal with blockchain firm DigitalBits over a series of missed payments.

 

Real Madrid appeal over LaLiga broadcast initiatives dismissed by national court

Real Madrid have lost their latest legal battle against LaLiga, over the new TV access requirements and media rights distribution introduced by the Spanish league at the start of this season.

Under the new system, LaLiga clubs that voluntarily give broadcasters more access to players and coaches, such as allowing cameras into changing rooms, will earn more in media rights income.

Madrid have been the only club not to agree to all the new measures, and back in August filed a complaint with Spain’s national criminal court, Audiencia Nacional, requesting the suspension of the changes.

Los Blancos accused LaLiga and its president Javier Tebas of corporate crimes, including disloyal administration, misappropriation, imposition of abusive agreements and corruption in business.

However, as reported by Spanish media, the court has rejected the club’s appeal over the issue and upheld a decision made by the Central Court of Instruction in September to dismiss its complaint.

Set to miss out on €13 million

Real Madrid are expected to miss out on around €13 million of income this season if they continue with their refusal to comply with the requirements introduced by LaLiga.

The new system affects the 25 per cent of the ‘audience recognition’ criteria for media rights revenue distribution, which is understood to total around €130 million for the current campaign.

 

Fiorentina hit with fresh stadium financing blow over proposed use of €55 million EU funds

Fiorentina have suffered a fresh blow over the financing of its stadium revamp after a court in Rome rejected an appeal from the Municipality of Florence against a decision related to public funding of the project.

The Italian government had originally planned to release €55 million of its Covid-19 recovery funds as part of a €193.4 million overhaul of Fiorentina’s 40,000-seat Artemio Franchi stadium – a move which proved highly contentious within Italy and elsewhere.

The plan to use the EU money for the project – from funding designated for rejuvenating dilapidated urban neighbourhoods – was approved in Italy last year when Mario Draghi was prime minister.

However, in May this year the government announced that the proposed use of the recovery funds had not been approved by the European Commission and that it could no longer release the money.

According to Italian media reports, the Rome-based Regional Administrative Court of Lazio has now backed up the decision to block the funding.

In the reasons for its ruling, the court stated that the Commission “has raised criticisms about the compatibility of the project", adding that it did not believe there was “consistency between the objectives pursued and the objectives of social cohesion which … characterise the measure in question.”

Florence to appeal

The Municipality of Florence has announced that it intends to appeal against the ruling to the Italian Council of State, convinced, it said, "even more of its own reasons and of the unjust and unjustified damage to the City and the metropolitan area of Florence.”

Atalanta have reported a profit for the eighth consecutive year, closing the 2022/23 financial year with a net profit of €5.6 million, slightly down from €6.4 million in the previous season.

The club's turnover for the year ending June 30, 2023, was €132.2 million, a decrease from €160.5 million in the previous year.

The decline in revenue is partly attributed to a drop in television rights income, which fell to €66.5 million from €95.9 million after the club participated in the Champions League group stage in 2021/22. Matchday, commercial and other income were all stable.

On the expense side, Atalanta managed to lower the club’s wage bill from €88.8 million to €87.1 million. EBITDA showed a €8.7 million profit, but as in most other football clubs Atalanta had to rely on player sales to make a net profit.

Increasing player sales

In 2022/23 profit on player sales surged to €63.2 million from €45.3 million, which secured the Italian club another profit on the bottom line.

Atalanta sold players like Romero (Tottenham), Freuler (Forest), Malinovskyi (Marseille), and Pessina (Monza) in the financial year.

Forest owner expands football portfolio with majority stake in Rio Ave

Nottingham Forest owner Evangelos Marinakis is set to take a significant step in expanding his football portfolio by acquiring an 80 percent stake in Portuguese club Rio Ave FC.

The investment, amounting to at least €20.5 million, comes after the club's members voted overwhelmingly in favor of Marinakis' involvement, which will be formalized following Rio Ave's transition into a sports limited company (SAD).

Marinakis, who has owned Nottingham Forest since 2017 and led the club back to the Premier League after a 23-year absence, also owns Greek powerhouse Olympiacos.

His latest venture into Portuguese football includes not only taking on the majority ownership of Rio Ave but also committing to clear the club's debts and inject funds for player transfers in the upcoming January window.

Jorge Mendes involvement

According to the club's statement, Marinakis' investment will also facilitate enhancements to Rio Ave's stadium and academy, signaling a comprehensive approach to bolstering the club's infrastructure and competitive potential.

Rio Ave president Alexandra Cruz confirmed in an interview with Portuguese media that renowned football agent Jorge Mendes played a pivotal role in orchestrating the deal.

This move by Marinakis underscores his growing influence in European football and his commitment to investing in the sport across different leagues.

Newcastle United initiates formal process for stadium expansion

Newcastle United's CEO Darren Eales has announced that the club has initiated "a formal process" to consider the expansion of St James' Park, their 52,000-capacity stadium, reports the Athletic. This move follows the club's commitment to enhance their home ground after the takeover in 2021.

According to Eales, who spoke at a fan event at the stadium, Newcastle United are conducting a stadium feasibility study to explore potential expansion options. He acknowledged that many fans have their own ideas about possible developments.

Eales emphasized the importance of fan input in this process, stating that a world-class agency will be engaged to assess what is architecturally feasible with a fresh perspective.

Supporter survey

As part of this study, a supporter survey will be distributed to gather valuable feedback on ticket demand, desired facilities, and overall expectations for the stadium's future.

No decisions have been made yet, but the feedback from this survey will be crucial in determining the direction of the feasibility study. The outcome will depend on what is architecturally possible, combined with ticket demand and facility requirements, to decide the best way forward for Newcastle United.

 

Premier League clubs consider private equity-style investment in Women’s Super League

According to Bloomberg, Premier League clubs are considering a private equity-style investment in the Women’s Super League (WSL), as discussions about the future of the league continue.

The Football Association (FA), which currently oversees the WSL, has been exploring various options for its development and growth.

“A number of options have been looked at,” says an FA spokesperson to the media. "We will pursue the options we feel are in the best interests of the sustainable development and growth of the game.”

Women's football in England is experiencing rapid growth, with record-breaking viewership numbers, such as the recent Chelsea vs. Liverpool match that attracted over a million viewers on BBC. Despite this, the league is still largely loss-making.

Some Premier League teams, preferring anonymity due to the sensitivity of the topic, favor investing in the WSL's commercial operations rather than directly funding the women's league. This approach mirrors actions taken by other leagues, like Spain's La Liga, which have sold stakes in their media rights to improve finances.

London based interest

The FA's request for £25 million from top-flight men's clubs to support the elite women’s league has faced challenges in garnering sufficient support. A proposed £20 million interest-free loan from the Premier League to the WSL was also not voted on as planned.

In 2020, Bridgepoint, a London-based private equity firm, expressed interest in acquiring a stake in the WSL, as reported by Sky News. Clubs without WSL teams are hesitant to fund the league, seeing it as advantageous to wealthier clubs with both men's and women's teams.

Atlético de Madrid have returned to profitability following the 2022/23 season, despite a decrease in turnover.

The club have reported a €0.4 million net profit, in contrast to a €22 million loss the previous year, as per the accounts accessed by sports website Relevo. These accounts are set to be approved at the General Shareholders' Meeting on 19 December.

Atletico's turnover reached €357.8 million, a decrease from the prior year's €377.8 million. However, the management successfully reduced the wage bill by over 15 per cent. Coupled with a €38 million profit from player sales – including Nehuén Pérez, Lodi, and Felipe – the club managed to achieve a modest profit.

Non-Payment for sponsorship

The club's net financial debt is at €514.3 million, slightly up from the previous year's €501.5 million. Atlético de Madrid presents a positive net equity of €111.1 million and a negative working capital of €98.8 million, improved from a positive net equity of €113.3 million and a negative working capital of €156.3 million at the end of the previous year.

To avert potential liquidity issues, Atlético de Madrid, as reported by Relevo, notes in its balance sheet that it can always obtain resources through the sale of player rights. This strategy enables the financing of new acquisitions for the team as well as its ongoing operations.

The club also disclosed plans to claim €20 million from Amber Technologies (WhaleFin) through arbitration, due to a failure in receiving a €40 million payment for sponsorship.

 

Tottenham reject Everton's claims over financial woes

Tottenham Hotspur are reportedly displeased with Everton's assertion that Spurs' acquisition of Richarlison for £60 million contributed to the Merseyside club breaching Premier League spending rules.

According to the Daily Mail, sources at Tottenham find Everton's claim "absurd" and are now less inclined to waive a £10 million fee related to Dele Alli's transfer.

The 41-page written judgement published by the Premier League's independent commission last Friday contained a claim from Everton that Tottenham had exploited their problems complying with profit and sustainability rules by driving 'a hard bargain' in the transfer market.

The club argued that Tottenham's hardnosed negotiation tactics and the eventual £20 million shortfall in Richarlison's transfer fee were "directly attributable" to their predicament. However, this reasoning was dismissed by the commission.

Tottenham sources maintain, according to the newspaper, that their bid for Richarlison was higher than those from Chelsea and Arsenal and that Everton's financial issues stem from their own mismanagement. They also noted that Everton had other assets, like Anthony Gordon, who could have been sold to alleviate financial pressures but was instead transferred to Newcastle six months later for £45 million.

Dele Alli deal

The two clubs had been discussing a restructuring of the deal for Dele Alli, which stipulates that Everton owes Tottenham £10 million after Alli makes seven more appearances. Given Everton's current financial woes, paying this fee would be challenging, but negotiations have not led to an agreement.

Tottenham insists on a fair settlement for both sides if the deal is to be renegotiated.

 

WSL and Championship clubs struggling to agree new commercial structure

Plans to establish a new commercial structure for the top tiers of English women's football are facing significant challenges.

Women's Championship clubs have expressed discontent with the proposed voting structure of the 'NewCo,' a temporary name for the entity intended to manage the elite women's club game in England from next summer, as reported by Daily Telegraph.

In a recent indicative vote, a majority of Championship clubs rejected the proposals because they would grant Women’s Super League (WSL) clubs slightly more voting power.

The Football Association (FA), which currently oversees both the WSL and Championship, has indicated it should not manage these leagues beyond next summer. Consequently, club CEOs from both leagues have been working to outline the NewCo's structure.

Revenue proposal

According to the newspaper’s sources, there is disagreement over how much voting power Championship clubs should hold. While governance matters would involve equal voting, Championship clubs would have less influence on some commercial deals.

The latest revenue proposals suggest a 75:25 split between the WSL and Championship, which some WSL clubs consider generous.

Despite the split being acceptable to many Championship sources, it's the voting rights that remain a sticking point. With time running out to establish the NewCo for overseeing the 2024/25 season and television rights negotiations pending, there's speculation that the NewCo might proceed without Championship clubs, covering only the WSL - a move that would likely be contentious.

Premier League clubs have voted against a proposal to fast-track a ban on loan moves between associated clubs during the January transfer window.

The temporary measure, aimed at safeguarding the integrity of the competition, failed to achieve the two-thirds majority (14 clubs), with only 12 clubs in favor, as reported by several media.

The current regulations allow for Premier League players to be sold and then potentially loaned back to the league with a team under the same ownership, provided it is at fair market value. This vote took place amid speculation of a possible loan move for Ruben Neves from Al Hilal to Newcastle United, both predominantly owned by Saudi Arabia’s Public Investment Fund (PIF).

The proposed measure was part of a broader discussion on related-party transactions, which includes issues like front-of-shirt sponsorship. The Premier League defines a related party as one having "material influence" over the club or being part of the same group of companies.

This definition encompasses several Premier League sides, including Newcastle and Al Hilal, Manchester City, Chelsea, and others that are part of multi-club models.

No vote

Premier League clubs were also anticipated to be divided over a vote on a new financial distribution model between the Premier League and EFL.

However, after a three-hour discussion, no vote occurred and will be rescheduled for a future date.

Leeds United owner sells minority stake to Ackerley Partners

49ers Enterprises, the US owners of Leeds United Football Club, has sold a minority stake to Ackerley Partners, a private holding company with interests in the NHL's Seattle Kraken.

Bloomberg reports that the transaction, which took place over the summer, aims to provide strategic capital to enhance Leeds United's football and commercial ventures.

The 49ers, who also own the NFL's San Francisco 49ers, took full ownership of Leeds in July after purchasing Andrea Radrizzani's remaining shares. Additionally, there is talk of another potential investor acquiring a minority stake, although this is not confirmed.

Leeds United is currently in a strong position to be promoted to the Premier League, standing third in the league.

Seattle sports market

Ackerley Partners is a private holding company for the Ackerley family who have long been role players in the Seattle sports market. Chris and Ted Ackerley are listed as minority owners in the Kraken, who joined the NHL in 2021. Their late mother, Ginger Ackerley, founded the Seattle Storm and formerly owned the Supersonics franchise.

Ackerley Partners' part ownership means Leeds will benefit from it's investors' participation.A spokesperson for the 49ers and Leeds United declined to comment to the media outlet on the matter.

ACF Fiorentina reveal net loss after massive drop in player sales

ACF Fiorentina have announced a significant increase in its operating revenues, reaching a record high of €147.9 million, marking a 33 per cent rise from the previous year's €111.1 million.

This growth is attributed to enhanced Serie A TV rights, sponsorships, advertising, and gate receipts, alongside earnings from the club's participation in the UEFA Conference League and Italian Cup finals.

Despite this, total revenues, including player trading, saw a decrease to €159.6 million from €233.2 million due to lower profit on player sales, which dropped to €7.7 million from €114.1 million the prior year.

The club reported a net loss of €19.5 million for the financial year, contrasting with the previous year's net profit of €46.8 million, which was significantly bolstered by gains in player trading. Total costs before depreciation and amortization increased to €118.7 million from €105.9 million, driven by a higher player wage bill.

EBITDA improvement

Excluding gains from player trading, EBITDA improved to €29.1 million from €5.2 million the previous year. Depreciation and amortization also went up to €55.8 million due to player registration rights and intangibles.

As of June 30, 2023, Fiorentina's balance sheet showed strong capitalization with total assets of €414.4 million and total equity of €293.1 million, without any financial debts with credit institutions.

Transfer income secures KRC Genk record revenue

During the annual General Meeting of KRC Genk, the club's Board of Directors and management presented a positive financial report for the past season, despite the absence of European football.

The club's revenue increased by €27.7 million, reaching a record total of €88.4 million. Remarkably, this revenue growth was achieved without the additional income from European competitions and is largely attributed to transfer income, which saw an increase of €26.5 million compared to the previous fiscal year to a total of €50 million.

For Genk the 2022/23 season marked the first without COVID-19 restrictions, and KRC Genk's sporting success contributed significantly to the financial results. The team contended for the championship until the final seconds, creating a buzz that led to a 20 per cent increase in season ticket and individual game ticket sales.

Increasing costs

Investments were also made back into the player squad, with €30 million allocated for this purpose.

Additionally, the club's operating costs rose to €84.5 million due to increased sporting and non-sporting expenses, the integration of Jong Genk into the Challenger Pro League, and exceptional provisions, including a €1.5 million repayment to Jupiler Pro League TV rights holders for the early termination of the 2020-2021 season due to the pandemic.

Overall, KRC Genk reported a positive financial outcome of €261,000 and maintains an equity capital of €68.4 million.

MP calls for suspension of Everton's 10-point penalty

Ian Byrne, Labour MP for Liverpool West Derby, has brought Everton Football Club's recent 10-point penalty for breaching Premier League financial rules to the House of Commons.

He has tabled an early day motion calling for the suspension of the penalty until an independent regulator can review the case.

According to the motion, Everton's sanction for exceeding permitted losses by £19.5 million is described as "grossly unjust" and a "punishment lacking any legal or equitable foundation or justification." The motion criticizes the independent commission's decision and suggests that the Premier League requires independent scrutiny.

Independent regulator

Byrne's motion contrasts Everton's financial penalty with the fines imposed on clubs involved in the European Super League attempt, which were not sporting in nature. It calls for the establishment of an independent regulator and requests that sanctions be suspended until this new body can make its own determinations.

Everton has already indicated plans to appeal against the sanction, with the appeal expected during the current season.

Premier League clubs are set to revisit the contentious issue of the failed European Super League, as tensions resurface ahead of a pivotal shareholders' meeting scheduled for Tuesday.

The other 14 clubs outside the so-called "big six" are expected to pressure the larger clubs to contribute more to the £130 million rescue package intended for the football pyramid, reports the Independent.

The "big six" – Manchester United, Liverpool, Arsenal, Tottenham Hotspur, Chelsea, and Manchester City – now face renewed scrutiny from their Premier League counterparts over the "New Deal for football" financial distribution model between the Premier League and EFL. The other clubs argue that under the current proposal, they would bear a disproportionate financial burden due to their relatively lower incomes.

At Tuesday's meeting, there is a strong sentiment among members to renegotiate terms, including the possibility of introducing a transfer levy, according to the newspaper. This comes amid concerns that future regulations imposed by an independent regulator could be even more stringent without prior negotiation. The recent 10-point deduction imposed on Everton for profit and sustainability breaches has added to the urgency of these discussions.

Man City case

The league's divisions have not been this pronounced since the ESL debacle, which had initially united the "big six" in their economic interests but ultimately led to a rift following the plan's collapse.

The slow progress of Manchester City's case involving 115 charges of alleged financial regulation breaches has also contributed to the tension. Most Premier League clubs have been calling for a resolution since February 2023.

 

Manchester United's football director set to depart amidst new investment overhaul

According to the Manchester Evening News, John Murtough, Manchester United's football director, is set to leave the club as soon as Sir Jim Ratcliffe's investment is approved.

As has been reported for weeks, Ratcliffe's Ineos Group is on the verge of acquiring a 25 percent stake in Manchester United and is looking to implement significant changes behind the scenes. The British billionaire is seeking a new figurehead for the football department to steer the club in a fresh direction.

Murtough has been with United for nearly a decade and was appointed football director in March 2021 by former executive vice-chairman Ed Woodward.

This news comes on the heels of CEO Richard Arnold's announced exit after 16 years at the club. Ratcliffe has been actively preparing for the transition, having held virtual meetings with United co-chairman Joel Glazer and sending Ineos sporting director Sir Dave Brailsford to visit United's training complex.

Impending departure

Murtough's tenure saw praise for his work alongside manager Erik ten Hag during their first transfer window together, which included signing players like Casemiro and Lisandro Martinez.

Despite winning the Carabao Cup last season, United's current performance has been underwhelming, leading to increased pressure on Ten Hag and contributing to Murtough's impending departure.

 

Paris Saint-Germain plans to upgrade Parc des Princes to a 60,000-seat stadium

Paris Saint-Germain are actively pursuing a dual strategy to upgrade their home ground facilities, L’Équipe reports.

Despite the Parisian government's reluctance to sell the Parc des Princes stadium, PSG are continuing to engage architects for renovation plans while also eyeing a bid to acquire the Stade de France, with a final application deadline set for January 3, 2024.

The proposed renovations for the Parc des Princes include adding a retractable roof and installing a new pitch modeled after Real Madrid’s Santiago Bernabéu, according to the newspaper. Architectural firms Pierre Ferret and Populous are assisting in these ambitious refurbishment efforts. However, as of now, PSG have not made progress in negotiations to purchase the stadium.

Agreement with mayor

PSG would also like to increase the seating capacity of the Parc des Princes from its current 47,929 to 60,000. All renovations hinges on reaching an agreement with Paris Mayor Anne Hidalgo.

Given the challenges associated with finding suitable land for a new stadium and the complexities involved in buying the Stade de France, PSG hope to re-open discussions for purchasing their current home ground.

 

Werder Bremen accepted financial loss in 2022/23 to retain Bundesliga status

SV Werder Bremen reported a €3.8 million loss in 2022/23, as revealed by CEO Klaus Filbry at the club’s general meeting.

He highlighted that they had taken a calculated economic risk for the sake of sporting success, which paid off with the team maintaining its Bundesliga status.

In the previous year, Werder Bremen posted a positive result of €6.3 million, largely due to transfer revenues of €28 million. However, this past season's transfer earnings significantly dropped to €5.3 million.

The club chose not to sell more players, instead keeping their promotion squad intact and investing in new signings like Amos Pieper, Niklas Stark, and Jens Stage.

Compared to the previous year, the club also saw a significant increase in operating expenses by €29 million to €122.8 million. Most notably, the club’s wage bill surged by €13.4 million due to playing in the Bundesliga, as opposed to the second-tier football in 2021/22.

Back to profit

Including transfer income, Werder Bremen increased their total revenue to €115.3 million in 2022/23 (2021/22: €92.8 million).

“Against the background of the transfer revenues already achieved in the current 2023/24 financial year, we are confident that we will end this financial year with a positive result that will at least compensate for the deficit of the previous financial year,” Filbry said.

This forecast includes summer transfers that occurred after June 30th, such as Niclas Füllkrug's move to Dortmund for a fixed transfer fee of €15 million, plus an additional €3.25 million based on performance.

Werder Bremen's net liabilities have been reduced to just over €20 million. Financial obligations from a medium-sized bond (originally €18.5 million) and a state-guaranteed loan (€20 million) will continue to impact the club's finances until at least the 2026/27 season.

Everton have been deducted ten points after being found guilty of breaching the Premier League’s profit and sustainability rules (PSRs).

The sanction, which was announced on Friday and came into effect immediately, was imposed by an independent commission following a disciplinary hearing last month. The Premier League referred Everton to the commission in March for an alleged breach of its PSRs in the three-year period up to 2021/22.

In a statement, the Premier League said: “During the proceedings, the Club admitted it was in breach of the PSRs for the period ending zeason 2021/22 but the extent of the breach remained in dispute.

“Following a five-day hearing last month, the Commission determined that Everton FC’s PSR Calculation for the relevant period resulted in a loss of £124.5 million, as contended by the Premier League, which exceeded the threshold of £105 million permitted under the PSRs.”

Everton have said they will appeal the punishment, which has seen them fall from 14th in the table to 19th. A club statement said it “believes that the Commission has imposed a wholly disproportionate and unjust sporting sanction.”

Interest on stadium loans

A key part of the case centred on interest payable on loans to build Everton’s new stadium at Bramley-Moore Dock.

While those were allowed to be factored into the club’s accounts for the 2020/21 financial year, the Premier League disputed that they were permissible a year later and, as detailed in the commission’s report, said: “Everton submitted misleading information about the stadium financing costs.”

Other aspects covered during the hearing included the impact of Covid-19, transfer levies and the inability to sell a player referred to as “Player X” because of a unique set of circumstances.

Compensation claim ‘could lead to further nine-point penalty’

Meanwhile, The Daily Mail has claimed that Everton could be forced into administration and given an additional nine-point penalty if a second independent commission rules that other clubs should be compensated for their spending breaches.

According to the newspaper, Burnley, Leeds United and Leicester City are pressing ahead with plans to bring a compensation claim against Everton after the club was found guilty of the PSR breaches.

It is understood that Everton's prospective new owner 777 Partners has committed to providing around £20 million a month to help with the club's running costs whilst the Premier League are assessing its takeover bid, but would not be willing to pay a compensation bill that could run into tens of millions of pounds.

Everton's current regime lack the funds to settle a significant compensation bill, which would leave the club facing administration and the automatic nine-point penalty introduced by the Premier League in 2004.

 

Paris Saint-Germain owner close to selling minority stake but ‘remains committed to club’

Paris Saint-Germain owner Qatar Sports Investment (QSI) is set to sell a minority stake in the club, The Athletic reports.

PSG’s chief revenue officer Marc Armstrong confirmed that talks are underway over a deal but insisted that QSI remains fully committed to the club and does not have plans to exit or cede majority control.

“We have no interest in selling the club, this will definitely be a minority stake,” Armstrong said.

He added: “The ownership are more committed to the club than ever, which can be seen by the money we have spent on Poissy [PSG’s new training ground, which opened this year] and what we are prepared to spend on the [Parc des Princes] stadium: those are both long-term investments.”

American private equity group Arctos Partners appears likeliest to invest in the French champions. Back in August, it was reported that the club’s president Nasser Al-Khelaïfi had met with senior executives from Arctos to discuss the acquisition of a stake which was expected to be between 5 and 15 per cent.

Stakes across multiple sports

Arctos has already acquired shareholdings in teams across multiple sports, including in football, as well as basketball and baseball. The firm holds a stake in Liverpool owner Fenway Sports Group, while it acquired a £29.2 million stake in Italian club Atalanta in May 2022.

Should a deal for PSG progress it is unclear what per cent would be sold, but the club expect it to value them above €4 billion.

 

Premier League's top clubs to receive larger share of prize money

The Premier League's top clubs are poised to receive a larger share of prize money starting from the 2025/26 season, as tensions rise following Everton's 10-point deduction for spending breaches.

According to the Telegraph, the merit-based system will shift from a 1.6 to one ratio to a 1.8 to one ratio, potentially increasing earnings by tens of millions for the biggest clubs.

This recalibration is influenced by international revenue growth and the Consumer Prices Index. Despite higher inflation rates benefiting smaller clubs next season, the long-term trend favors larger clubs, which has been a point of contention among Premier League members.

As clubs prepare to vote on the New Deal For Football, discussions are expected regarding how costs will be distributed among them. The deal aims to provide an additional £130 million per year to lower leagues, but the exact cost-sharing remains debated.

Spending cap

The pressure on the Premier League has intensified after Everton's punishment and subsequent calls for quicker implementation of a new independent regulator in English football.

The New Deal For Football represents a significant financial overhaul, with years of negotiation leading to broad support despite some reservations. The EFL is set to receive a substantial funding increase, while relegated teams will be allowed to spend up to 85 per cent of revenue on wages and transfers. Championship teams will face a 70 per cent spending cap but will benefit from increased solidarity payments and an "equity top-up" estimated at an additional 20 per cent of spending.

 

Lyon appoint L’Equipe boss Laurent Prud’homme as new CEO

Laurent Prud’homme is to become the new chief executive at Lyon after stepping down from his role at the French sports media outlet L’Equipe.

The Amaury group, which owns L’Equipe, announced Prud’homme’s departure as CEO on Friday. It is understood that Lyon owner John Textor convinced him to take up the role at the Ligue 1 club after being engaged in talks for several weeks.

Prud’homme will replace Santiago Cucci, who has been serving as Lyon’s interim CEO since July. General manager Thierry Sauvage is also departing as part of a restructure at the club.

Warner Bros. Discovery role

Prud’homme, who will take up his new role at Lyon in the coming weeks, was CEO at L’Equipe for almost three years. Prior to that, he was senior vice-president and general manager for France at Warner Bros. Discovery, including Eurosport France, for 20 years.

The outgoing L’Equipe CEO was chosen by Textor because of his knowledge of the main players in French sport, including the leaders of the FFF and the LFP. He also has a history with Lyon, the city where part of his family is from and where he completed his studies.

Prud'homme is joining Lyon at a difficult time for the club, who are currently bottom of Ligue 1 and last month announced a loss of €99 million for the 2022/23 financial year.

 

Real Betis return to profitability after Covid losses

Real Betis have reported a small profit of €0.17 million for the year ending 30th June, 2023, their first surplus since the Covid-19 pandemic.

The result follows a loss of €39.5 million the previous year and was achieved thanks to significant increases in revenue and a reduction in the club’s wage bill.

Turnover reached €148.7 million, up from €120.2 million in 2021/22. Last season, Real Betis finished in sixth place in LaLiga and reached the last 16 of the Europa League, after ending the season in fifth place and reaching the same stage of the Europa League in 2021/22.

Matchday income for 2022/23 rose to €24.9 million, compared with €20.1 million in 2021/22, while broadcast revenues amounted to €92.6 million, up from €84.1 million, with UEFA media rights income totalling €21.2 million, an increase from €17.6 million.

Commercial income almost doubled, from €15.9 million to €31.2 million, as did the profit from player sales, which rose from €7 million to €13.8 million.

Wage bill falls to €94.6 million

Real Betis also reduced their salary costs in 2022/23, with the club’s total wage bill falling to €94.6 million, down from €99.8 million the previous year.

For 2023/24, the club has forecast record revenues of €188 million and a profit of €4.6 million as it anticipates further increases across its key income streams.

 

Luis Rubiales given three-year ban by Spain's Administrative Sports Court

Spain's Administrative Sports Court (TAD) has banned the former Spanish Football Federation (RFEF) president Luis Rubiales from all football-related activities in the country for three years.

As reported by Spanish media, the suspension, which disqualifies Rubiales from holding any position in Spanish sport, has been imposed as a result of two proposed sanctions, each for bans of one year and a half following his actions at the Women's World Cup final in Sydney in August.

One was for an abuse of authority when he kissed Jenni Hermoso at the medal ceremony, and the other for the touching of his genitals during celebrations while standing next to members of the Spanish royal family.

When it opened its case against Rubiales in September, TAD adjudged that Rubiales’ behaviour constituted a “serious” breach of conduct, but not “very serious”, which would have given the Spanish government the option of removing him from his post immediately.

Rubiales to appeal decision

According to Spanish media, Rubiales will appeal TAD’s ruling, which is independent of FIFA’s decision to ban the former RFEF president from all football-related activities at national and international level, also for three years.

FIFA announced last month that its Disciplinary Committee had found that Rubiales acted in breach of article 13 of the FIFA Disciplinary Code, which relates to offensive behaviour and violations of the principles of fair play.

Rubiales has already begun an appeal against the FIFA ban. He eventually stepped down as RFEF president on 10th September, but argued he was the victim of a "disproportionate campaign" and "excessive persecution."

Sevilla have recorded a loss of€14.8 million for the year ending 30th June 2023 despite an 18 per cent increase in turnover following their Europa League victory last season.

The loss follows the deficit of €20.4 million suffered in 2021/22. In both of the past two seasons, the club fell into the Europa League after failing to qualify for the knockout stages of the Champions League. In 2021/22 they reached the last 16 of the Europa League.

Total revenues in 2022/23 were €224.6 million, up from €189.8 million the previous year. Broadcast income rose to €163.9 million, compared with €144.3 million in 2021/22, with UEFA media rights revenues climbing to €80.4 million, up from €55.5 million.

Among the other key revenue streams, matchday income climbed to €20.7 million, up from €15.9 million the previous year, and commercial revenues amounted to €29.7 million, compared with €25.9 million.

The club made a profit on player sales of €34.9 million, down from a surplus of €43.1 million. The wage bill rose to €175 million, up from €157.6 million.

Inconsistent domestic form

Despite their success in Europe in 2022/23, Sevilla had a disappointing season domestically, finishing in 12th place in LaLiga, and their inconsistent form has continued this campaign, with the team currently in 13th place.

German clubs to vote on external investment plans at DFL general assembly in December

The DFL has said it plans to hold a vote next month among the 36 clubs in Germany’s top two divisions over its latest plans to attract external investment into the Bundesliga.

In a statement, the DFL said the vote will take place at its general assembly on 11th December. Teams will be asked whether an auction should be staged for the right to invest in the Bundesliga’s media rights business.

It has been reported that under the latest proposed deal, a stake of six to nine per cent in the unit would be sold over a 20-year period, valued at between €750 million and €1 billion.

Reverse auction

Back in May, Germany’s professional clubs voted against plans to sell a 12.5 per cent stake in the Bundesliga’s media rights subsidiary in a proposed deal that would have lasted for at least 20 years. The DFL hoped to raise around €2 billion from the deal.

According to Bloomberg, this time around, the DFL is likely to use a reverse auction, asking private equity firms how big a stake they would seek for an investment of up to €1 billion in the media rights business.
 

Saudi state oil giant Aramco set to become FIFA’s biggest-paying sponsor in ‘$100 million per year’ deal

FIFA is set to agree a global sponsorship deal with the Saudi Arabian state-owned oil giant Aramco estimated to be worth at least $100 million per year, The Times reports.

According to the newspaper, Aramco, the world’s most profitable company, is expected to become one of FIFA’s top-tier partners in a relationship that would last until 2034, after Saudi Arabia was confirmed as the sole bidder for that year’s World Cup.

Sources in the marketing industry and those with knowledge of Aramco’s plans told The Times that talks over a sponsorship deal are at an advanced stage.

Aramco already has a number of sports sponsorships, including with the International Cricket Council for the Cricket World Cup, cricket’s Indian Premier League, Formula 1 and women’s golf.

“Escalator” built into deal

Ricardo Fort, the former head of global sponsorship at Visa and Coca-Cola and founder of Sport by Fort Consulting, said he believes the deal could be worth up to $100 million a year by the time Saudi Arabia hosts the World Cup, making it FIFA’s biggest-paying sponsor.

Fort estimates that the football governing body’s global partners pay $50 million a year and those at a lower tier $25 million, but that a top-tier package could be $75 million a year, with an “escalator” built into the deal every four years so that it would reach “at least $100 million per year” by 2034.

New York City FC unveil plans for first fully electric stadium in MLS

New York City FC have announced that their proposed new stadium in Queens will be the first fully electric professional sports stadium in New York and the first in the MLS.

The club has revealed details of its sustainability plan for the venue as the $780 million project formally enters the Uniform Land Use Review Process (ULURP) this week.

NYCFC, part of the City Football Group, is intending to build a 25,000-seat football-specific stadium on 23 acres of formerly-contaminated land at Willets Point.

The ground will be part of a wider project that includes 2,500 units of affordable housing, a 650-seat new public school, 250-bed hotel, and open space for the newly created community.

Solar panels on stadium roof

NYCFC said the new stadium will have solar panels installed on the stadium roof, with an emergency backup generator to be provided that would only operate during a utility power outage or when code required testing is performed.

The club said the stadium will also feature a water harvesting system below the pitch that will capture rainwater and re-use it for irrigation. It added that it is working to ensure there will be “accessible and affordable” public transport options for fans to reach the venue.

Saint Étienne owners ‘ready to sell club’ as losses mount

Saint Étienne’s majority shareholders, Bernard Caïazzo and Roland Romeyer, are looking to sell the Ligue 2 club, according to a report from L’Équipe.

The pair initially wanted to find new owners back in April 2021 when the club was still in Ligue 1, but dropped the idea following the team’s relegation in 2021/22.

However, it is understood the duo have now been forced to begin the search for a buyer, with losses of between €15 million and €20 million since the club dropped down to the second tier.

The sale of players including Denis Bouanga and Lucas Gourna-Douath helped raise €16 million following relegation, but sellable assets in the transfer market are now said to be limited, along with a lack of other options to generate additional funds. Saint Étienne are currently in fifth place in Ligue 2.

Price of €20-25 million likely

Caïazzo and Romeyer initially wanted to sell Saint Étienne for €100 million, following the sale of Nice to Sir Jim Ratcliffe’s Ineos group back in 2019 for the same amount, but a price of between €20 million and €25 million now appears more likely. KPMG has recommended that a sale be completed before 31st December.

Manchester City have become the first English club to surpass the €800 million turnover mark.

The club's first Champions League victory played a significant role in increasing broadcast incomes, and its expanding commercial partnerships allowed it to outperform rivals, including Manchester United, in revenue for the third consecutive year. Just a month ago, Manchester United set the previous British turnover record.

Manchester City's total turnover of €825.7 million is second only to Real Madrid's €831.2 million. Analyzing the main revenue streams reveals that City leads in two of the three categories. While trailing behind the two Spanish giants and Manchester United in matchday income, City reports half the income of these clubs (€82.7 million). However, in broadcast (€344 million) and commercial income (€393 million), City ranks first and second in Europe, respectively.

The accounts also show that Manchester City now holds the record for the highest wage bill in British football. The arrival of Erling Haaland and bonuses from their Treble success led to a €68 million increase in salary costs, reaching €486.2 million last season. Only FC Barcelona have reported a higher total wage bill in Europe.

The club recorded a pre-tax profit of €92.4 million, a significant rise from the previous year's €49.3 million. However, without the substantial €139.9 million profit from player sales, the club would have incurred a loss of approximately €41 million.

“Doubling down on the proven philosophies”

Khaldoon Al Mubarak, City's chairman, described the year as the club's "greatest football and commercial year" in its history, emphasizing the importance of not resting on their laurels.

He stated, “In the aftermath of the Champions League win in Turkey and the completion of ‘The Treble’ the question I was asked most often was ‘How do you top that? The answer is by doubling down on the proven philosophies and practices that have brought us this success and to challenge ourselves to continue to constantly innovate in order to achieve new levels of performance both on and off the field.”

This is the first set of full-year accounts City has published since the Premier League charged the club with over 100 alleged breaches of financial regulations. Under the 'Risks and Uncertainties' section in the accounts, City note the charges by the Premier League and reiterates their confidence in not breaching any regulations.

 

Investigative report uncovers secret payments linked to Chelsea and Abramovich

Chelsea are under renewed scrutiny over how its former owner, Roman Abramovich, financed the club's success.

The Guardian, in collaboration with international partners, has uncovered a series of secret payments that may have violated football regulations, including those on Financial Fair Play. These transactions could potentially lead to Premier League sanctions against Chelsea, such as point deductions.

According to the investigation, known as Cyprus Confidential, tens of millions of pounds were channeled through offshore vehicles linked to Abramovich over a decade.

These payments were seemingly for Chelsea's benefit and raise questions about their disclosure in accounts submitted to football governing bodies.

Chelsea’s finances are already being examined by the Premier League in an investigation that runs from 2012 to 2019, after the west London club’s new ownership regime voluntarily reported that “incomplete financial information” had been submitted during Abramovich’s tenure.

“Allegations pre-date current ownership”

The documents suggest that Abramovich's companies made payments to individuals closely connected to key figures at Chelsea. Four sports lawyers told The Guardian that some of these payments might have breached FFP rules introduced by UEFA and adopted by the Premier League.

A Chelsea FC spokesperson said to the newspaper: “These allegations pre-date the club’s current ownership. They are based on documents which the club has not been shown and do not relate to any individual who is presently at the club.”

 

Manchester United's chief executive Richard Arnold steps down

Chief executive Richard Arnold is leaving Manchester United. Arnold, who took over as the club's top executive in February 2022 replacing Ed Woodward, is stepping down amid Sir Jim Ratcliffe's Ineos Group nearing the completion of a deal to acquire a 25 per cent stake in the Premier League club.

“It has been an incredible privilege to serve this great football club for the past 16 years. Through highs and lows, the constant has been the dedication of our employees and fans. I would like to thank all of them for their loyalty and commitment and wish everyone associated with the club the very best for the future,” Richard Arnold said.

Joel Glazer, Executive Co-Chairman, thanked Arnold for his “outstanding service to Manchester United”.

Patrick Stewart, currently serving as general counsel, will assume the role of interim chief executive while Manchester United searches for a permanent successor. Stewart has been representing United at recent meetings of both the Premier League and the European Clubs' Association.

The transition period between the announcement of Ratcliffe's investment and its approval by the Premier League is expected to last six to eight weeks. During this interval, Ratcliffe will not be able to influence club operations.

Year of turbulence

Arnold's tenure at Manchester United began in August 2007, and he has been instrumental in securing key sponsorship deals. Insiders also said he had succeeded in modernising the structure of United's football operations, even as the men's first team struggle in domestic and European competitions under manager Erik ten Hag.

The last year has, however, been one of turbulence amid ongoing uncertainty about the club's future ownership.

A strategic review was initiated by the Glazer family almost a year ago, although it is expected to be resolved within the next weeks with the confirmation of Ratcliffe's minority investment.

 

LaLiga CEO joins Atlético de Madrid as General Director

Óscar Mayo, the current Chief Executive Officer of LaLiga, will join Atlético de Madrid as the new General Director of Operations. His appointment is effective from January 15, 2024, following the completion of LaLiga's electoral process, in which Javier Tebas will seek re-election.

During his seven-year tenure at LaLiga, Mayo, who has been the CEO since 2021, played a crucial role in tripling the competition's commercial revenues. He was instrumental in the agreement with CVC, which brought nearly €2 billion into the competition, and in establishing joint ventures in China, the Middle East, North Africa, and the United States, as well as expanding the alliance with EA Sports.

LaLiga President Javier Tebas commented, "Óscar has performed excellently in every position he's held at LALIGA and his work has contributed substantially to the major milestones achieved in recent years."

Preparing for transition

Spanish media report that Mayo's move to Atlético Madrid aligns with the club's efforts to strengthen its organizational structure before the anticipated retirement of current CEO and major shareholder Miguel Ángel Gil Marín.

Mayo will be responsible for overseeing business and corporate services at Atlético, focusing on revenue generation, branding, internationalization, and operational management of facilities.

Jorge de la Vega, the former deputy CEO, will succeed Mayo. De la Vega, who has been preparing for this transition since his promotion in late October, will now take on direct executive responsibilities.

To further bolster the management team, LaLiga has appointed Juan Vicente Marín as deputy CEO. Marín, with over six years of experience at LaLiga, previously held the position of CEO of LaLiga Entertainment.

 

High transfer income compensates for significant decrease in Lyon turnover in Q1

In the midst of challenging times both on and off the pitch, Olympique Lyon have released its financial results for the first three months of the 2023/24 season.

The turnover, excluding player trading, fell 43 percent compared to the same period last year, dropping from €57.1 million to €32.6 million.

The primary negative factors were matchday and broadcast income, which decreased by 37 and 73 percent, respectively. This decline resulted from one-off income and weaker league performance this season compared to the same period last year.

Matchday income also suffered, including only three league games this season compared to five in the previous year. Regarding broadcast income, last year's €26.3 million included the first tranche of income linked to CVC's investment (€16.5 million) in the league's commercial subsidiary. However, even excluding this, revenue fell due to the club's league ranking – Lyon was 6th last season compared to being at the bottom of the league this season.

High transfer income

The report revealed exceptionally high player revenue of €90.5 million, a significant increase from €43.9 million the previous year. This increase was due to the sale of eight players such as Bradley Barcola, Castello Lukeba, and Romain Faivre during the summer transfer window. Including this figure, Lyon's total revenue increased by 22 percent, from €101 million to €123.1 million.

Analyst Trion Reid from Berenberg commented, "We retain our view that the lack of Champions League football and the likelihood of missing out again next season, combined with the high debt level, mean that the shares represent a risky investment."