Fiorentina president Rocco Commisso has revealed that the club generated record revenues of €119 million in the 2022/23 financial year.

In an interview with the club’s official channels, the American businessman said the figure does not include the €25 million from its sponsorship deal with Commisso’s cable TV company Mediacom or any capital gains made from player transfers.

“2022/23 was Fiorentina’s best year in terms of revenues,” Commisso said. “It had never reached this point in the history of Fiorentina. I am very happy with this … revenues have grown and we hope to continue like this.”

The president attributed the higher income to the club reaching two cup finals last season: the Coppa Italia, where Fiorentina lost to Inter Milan, and the Europa Conference League, where West Ham United were the winners.

Viola Park training facility update

Commisso also provided an update on Fiorentina’s new €110 million training ground, Viola Park, saying that while the facility is almost complete, and is now being used by the club’s players, fans are not yet able to visit due to bureaucratic problems, above all safety rules.

“The structure is practically finished,” he said. “To date, however, there is neither the tramway nor the parking lots, and it is not known when they will be there. We are there in terms of practicability, only the fans and some permits are missing.”

He added: “I have to live with Italian laws, but that doesn't mean I can't criticise. Maybe by 15-16 September we will be able to have what we need to inaugurate the facility.”

 

Australia faces Melbourne stadium issue over potential Men’s World Cup bid

Football fans in Melbourne could miss out on Men’s World Cup matches if an Australian bid was successful amid a rectangular stadium conundrum in Victoria, The Guardian reports.

Football Australia (FA) is seeking to build on the success of the Women’s World Cup with an imminent bid for the 2026 Women’s Asian Cup and another try for the Men’s World Cup in 2034.

Melbourne’s largest rectangular venue, AAMI Park, has a capacity of 30,000 and was used during the Women’s World Cup group stage and round of 16. But the city missed out any of the marquee fixtures of the tournament such as the opener, semi-finals or final.

FIFA requires World Cup bids to include grounds of at least 40,000 for group stage matches, and 60,000 or more for knockout matches. Rectangular grounds are preferred given the improved viewing experience and atmosphere they offer.

Three options

FA CEO James Johnson said there were three options for Melbourne to be part of a 2034 Men’s World Cup bid. “There would have to be investment into a stadium like the MCG to ‘rectangulise’ or ‘footballise’ it,” he said.

“Or there would need to be an upgrade to AAMI Park because it’s not big enough to host even a group stage match of a Men’s World Cup, or there needs to be a new rectangular stadium built.”

Asked if the Victorian government would consider building an 80,000-seat rectangular stadium, the premier, Daniel Andrews, said: “We’ve got a stadium [the MCG] that seats 100,000 and it can be made a rectangle and it has been done in the past.”

 

Southend hit with 10-point deduction over HMRC debt and given 'final' 42-day adjournment to find new buyer

Southend United have been handed a 10-point deduction by the National League after being given a last chance to pay their debts and avoid liquidation by the courts.

As reported by the BBC, the financially-troubled club have yet to clear a £275,000 debt owed to HM Revenue & Customs and were given a 42-day adjournment at their previous appearance in court on 12th July to clear their debt to HMRC and find a new owner.

In court on Wednesday, the judge warned owner Ron Martin that the club would be wound up if the new deadline of 4th October was missed. "If this was not a football club, with the attachment of its fans, I would be winding it up today," Judge Sebastian Prentis said. "This has got to be sorted out".

The points deduction means Southend go bottom of the table on minus four points, but they are expected to appeal.

Prospective new owner named

Martin said the sale of the club to an Australian buyer should be finalised next month, and The Echo, Southend’s local newspaper, has since named the prospective new owner as Justin Rees.

The Australian is listed as the co-founder of Eighty20 Solutions on his LinkedIn page but has since stepped away from the company and has his sights sets on Southend, heading up a consortium made up of local businessmen. According to The Echo, Rees has met with members of the club’s staff and has also spoken to local MP Anna Firth.

Serie A president Lorenzo Casini has called on FIFA and UEFA to address the threat posed to European football’s competitiveness by the financial muscle of the Saudi Pro League as it continues to attract star players from some of Europe’s top clubs.

In an interview with Italian channel Extra TV, Casini said the heavy transfer spending of Saudi Pro League teams over recent months marks a new phase in the growing influence of wealthy Gulf states on the game.

"Of course, the Saudi phenomenon is not entirely new,” he said. “Other countries have made these sorts of deals in the past. [But] the size of the operation that Saudi football is carrying out is striking.”

“Now, there is a phase two”

Casini continued: “It’s moved from phase one, in which Saudi or other Middle Eastern capital was invested in European clubs look at Manchester City for example. Now, there is a phase two, where they want to bring champions to their country and try to establish a real ‘European’ championship.

“Clearly, FIFA and UEFA will have to take countermeasures to avoid putting competitiveness at risk. It is important to see a reaction.”

Spanish PM says Rubiales’ apology “not enough” as pressure grows on RFEF president over unsolicited kiss

Royal Spanish Football Federation (RFEF) president Luis Rubiales is facing renewed pressure to resign amid the fallout from kissing Women’s World Cup winner Jenni Hermoso on the lips after Sunday’s final.

During a news conference on Tuesday, Spain’s acting prime minister Pedro Sanchez said: "We've seen his apology and that's not enough, he must be much clearer and convincing in apologising. He must take more steps to clarify a behaviour that is unacceptable."

The incident – which happened as Rubiales handed the women's team gold medals after they beat England 1-0 – sparked outrage within and outside Spain, with many, including ministers, demanding Rubiales' resignation.

As criticism mounted, Rubiales issued a video apology late on Monday, after initially calling critics "idiots". In the video statement sent by the RFEF, he said: "Surely I was wrong, I have to admit. It was without bad faith at a time of maximum effusiveness."

Hermoso "didn't like it"

After the kiss, Hermoso told teammates in the locker room that she "didn't like it," according to video footage posted by El Mundo newspaper and other media outlets. She later downplayed the incident in a statement sent to Spanish news agency EFE by the RFEF.

Post-game video footage also depicts Rubiales kissing other players on the cheek or embracing them when handing out the medals. Standing besides Spain's Queen Letizia and one of her teenage daughters on the stadium's seats,
Rubiales enthusiastically celebrated the victory, including by grabbing his crotch while pointing to the field.

Borussia Dortmund have revealed that the club returned to profitability in the 2022/23 financial year for the first since 2018/19.

In their preliminary figures for 2022/23, the Bundesliga club reported a profit of €9.6 million, after suffering a loss of €35.1 million in 2021/22.

Consolidated revenues reached €418.2 million, up 19 per cent from €351.6 million the previous year, while consolidated total operating proceeds (consolidated revenue plus transfer income) amounted to €515.4 million, a 13 per cent increase on the €456.9 million earned in 2021/22.

The club attributed the improved financial performance to the lifting of Covid restrictions. Matchday income almost doubled from the previous year, rising to €43.5 million from € 22.7 million, and conference, catering and miscellaneous income reached €41.5 million, up from €26.0 million.

There were also significant increases for broadcast revenue, rising from €145.1 million to €157.5 million, and commercial income, which increased from €126.1 million to €142.3 million.

Net transfer income amounted to €72.5 million, up from €62.9 million in 2021/22. Personnel expenses increased to €236.2 million, compared with €231.2 million the previous year.

No dividend payment yet

Despite the return to profitability, Dortmund are not proposing a return of a dividend payment yet. The club said this is “in light of the losses incurred during the Covid-19 pandemic and the earnings situation”.

Commenting on the results, Trion Reid, an analyst at Berenberg Bank, said: “The better performance was driven by 2022/23 representing a season that was unaffected by Covid-19-related restrictions, which allowed the full recovery of revenue related to match operations and conference, catering and miscellaneous income, as well as an improved performance in advertising and TV income.

“Net transfer income was also up YOY, driven primarily by the sale of Erling Haaland to Manchester City in July last year.”

 

Newcastle United’s new five-year kit deal with Adidas leaked from documentary

Newcastle United have agreed a five-year deal with Adidas to become the club’s new kit manufacturer from the 2024/25 season, it has emerged.

As reported by The Athletic, news of the agreement was revealed after Amazon mistakenly released episodes three and four of the ‘We Are Newcastle United’ documentary, which showed the club’s commercial staff agreeing a deal with the German brand. Those episodes have subsequently been taken back down.

Newcastle’s deal with Adidas is believed to represent a significant uplift on their current agreement with Castore, which is reported to be worth around £7 million per year.

The Manchester-based company has supplied Newcastle’s apparel since 2021/22, and the deal was set to run until 2027. However, the club has invoked an exit clause to extricate themselves from the contract.

Kit supplier during the mid-1990s

Adidas has a long history with Newcastle, and previously supplied the club’s kit during the mid-1990s, while its chief commercial officer Peter Silverstone has close ties to the company from his time working at Arsenal, having been involved in the north London’s club return to the brand from the 2019/20 season.

On Saturday, Adidas tweeted ‘Coming Soon’, with the Newcastle colours, and the date on which the final documentary episode was set to be released. Newcastle subsequently replied with the ‘eyes’ emoji.

 

Manchester United announce U-turn over Mason Greenwood who will not return to team

Manchester United have abandoned their plan to bring back Mason Greenwood to the club’s first team following a public backlash over the development after charges of attempted rape and assault against him were dropped.

The striker had been subject to an internal investigation from United since February when the UK’s Crown Prosecution Service (CPS) discontinued its case against him for attempted rape, assault, and coercive control.

The CPS said there was “no longer a realistic prospect of conviction” after key witnesses withdrew their cooperation from the investigation. Greenwood denied all the alleged offences.

In a statement released on Monday, United said that Greenwood will not now return to play at Old Trafford, and that they are now working with the player to find him another club.

The club statement read: “All those involved, including Mason, recognise the difficulties with him recommencing his career at Manchester United. It has therefore been mutually agreed that it would be most appropriate for him to do so away from Old Trafford, and we will now work with Mason to achieve that outcome.”

Strong critical reaction

The club faced mounting criticism from inside and outside after The Athletic reported last Wednesday that United chief executive Richard Arnold held a meeting with the club’s executive leadership in the first week of August to inform them the plan was for Greenwood to return.

United insisted last week a decision “had not yet been made” but, in light of the strong critical reaction to the revelations in the media, the club held crisis talks on Friday. They have since decided not to reintegrate Greenwood with the first team at this stage.

The Premier League is reported to be drawing up a formal process to force club owners who are barred as directors to sell their shares following Roman Abramovich’s chaotic exit from Chelsea last year.

Sources told The Financial Times that the English top-flight is in talks with its members about introducing a so-called divestment protocol that would set out a process for club owners to exit in cases when the league bars them from serving as directors owing to “disqualifying events”.

The discussion follows moves by the Premier League to toughen up its Owners’ and Directors’ Test. Disqualifying events, which can be appealed, now include human rights abuses and an extended list of criminal offences such as violence, corruption, fraud and tax evasion.

Accelerated sale

It is understood the divestment protocol, which is due to be discussed at a shareholder meeting in September, would be designed to govern what happens next in an event similar to the accelerated sale of Chelsea last year in the wake of Russia’s invasion of Ukraine.

The FT also revealed that several clubs have concerns about the divestment protocol, with one person saying clubs were keen to ensure that the league avoided implementing “draconian” measures.

Some US professional sports leagues such as the NFL and NBA have rules allowing them to call a vote among fellow owners to force the sale of a team, although such moves are unusual.

 

DFL CEO: Private equity investment not off the table

German Football League (DFL) joint CEO Marc Lenz has insisted it remains open to investment from private equity firms despite Bundesliga clubs previously resisting similar moves.

Back in May German teams voted against plans to sell a 12.5 per cent stake in the Bundesliga’s media rights business to a private equity firm in a proposed deal that would have lasted for at least 20 years. This came after previous discussions over a 25 per cent stake which began in 2021 were vetoed by clubs.

Speaking with reporters ahead of the DFL Supercup, Lenz said the DFL would continue talks with the clubs aimed at growing the German top-flight.

“The discussions were stopped in May for various reasons,” he said. “But we don’t think it is the ultimate end of those discussions because the necessity to develop as a league remains exactly as it was previously.”

“Pivotal to initiate a couple of steps”

Lenz added: “For us, the importance is around the long-term development and what needs to be done in the short-term and those go hand in hand because obviously right now we have a certain budget that the league is operating on and it’s pivotal to initiate a couple of steps already.

“In truth, it’s obviously with a limited budget because it’s coming out of the operating budget that the league has which is different to working with a strategic partner and significant investment that can be used and allocated over a respective time period.

“Nevertheless, the discussions will continue and they’re two-sided – one with clubs on the long-term development, what needs to be done and what can be done in current financial terms, and the second part is if there is an agreement on the long-term development, how is that going to be financed and when can it be initiated.”

 

US investor Stephen Pagliuca says Saudi spending could disrupt Premier League

American investor Stephen Pagliuca, who last year made an unsuccessful bid for Chelsea, has said the recent heavy spending in the transfer market by Saudi Pro League clubs has the potential to significantly disrupt the English Premier League.

Commenting on the vast outlays made by Saudi clubs this summer, Pagliuca, a senior adviser at private equity firm Bain Capital, told Bloomberg TV: “It’s been an extraordinary injection of capital and increased the price of players dramatically”.

Established players from Premier League teams including Chelsea and Liverpool have made the move east, as have those from the top-flights in Spain, France, Italy and Germany.

Pagliuca noted that players are being offered contracts worth three or four times more what they can make in the Premier League. “We’ll see how long it’s sustainable,” he added.

Atalanta player

Pagliuca holds a stake in Serie A club Atalanta and is the co-owner of NBA team Boston Celtics. Last week, Atalanta reportedly agreed to sell one of its players – Turkish defender Merih Demiral – to Saudi Arabian team Al-Ahli.

 

Infantino: Women's World Cup broke even with $570 million-plus in revenue

FIFA president Gianni Infantino has said the Women's World Cup generated more than $570 million in revenue, enabling the tournament to break even, despite prize money rising tenfold compared to the 2015 edition.

Speaking at the opening of the second FIFA Women's Football Convention in Sydney on Friday, Infantino claimed the ninth edition of the Women's World Cup had been the "best and greatest and biggest", and had vindicated the expansion from 24 to 32 teams as well as the higher prize money.

The FIFA chief declared: "Some voices were raised, would it cost too much? We don't make enough revenues, we will have to subsidise. And our opinion was, well if we have to subsidise, we will subsidise, because we have to do that.

"But actually, this World Cup generated over $570 million in revenues, and so we broke even. We didn't lose any money and we generated the second highest income of any sport, besides of course the men's World Cup, at a global stage."

“Pick the right battles”

Infantino sparked controversy during his speech as he urged women’s football to “pick the right battles” in the fight for equal pay while placing the onus on women to enforce the change.

The $440 million prize purse for the men's World Cup in Qatar is still considerably more than the $152 million shared by the women in Australia and New Zealand.

"I say to all the women, you have the power to change. Pick the right battles. Pick the right fights," Infantino said.

"Just keep pushing, keep the momentum, keep dreaming, and let's really go for a full equality. Not just equal pay in the World Cup, which is a slogan that comes up every now and then."

"For now, Inter Milan remains my primary target. It's a massive club with enormous potential for success on and off the pitch. Yes, I hope to become the owner someday, but it takes two to tango."

If anyone assumed that Thomas Zilliacus, the Finnish billionaire with a background in tech and politics, had turned his back on the football industry after his failed bid for Manchester United in March, they would be mistaken.

"I had to withdraw from the Manchester United bidding process due to the escalating price. Matching the offers of other investors would have made the investment unprofitable, so it was a logical decision to step back," he says, touching on one of his core principles before entering the world of football as an investor or club owner: Running a profitable business is essential.

However, before delving further into this philosophy, we must ascertain whether he genuinely believes he can secure the Champions League finalist from last year or if his interest is more aspirational than grounded in reality.

"My interest in Inter Milan is genuine and unquestionable. While I'm unable to reveal more due to a signed NDA and potential competitors, I can affirm my determination to acquire the club."

Influential network

Thomas Zilliacus  initially gained attention as the youngest member of the Helsinki City Council in 1979.  . In 1984, he secured another four-year term as a councilman.

As a businessman, he enjoyed a successful tenure at Nokia, where he assumed the role of Corporate Communications Global Head in 1980. He then relocated to Singapore to become Nokia Southeast Asia's CEO, marking a pivotal point in his career. He orchestrated Nokia's substantial expansion in the region before venturing into entrepreneurship. Zilliacus went on to co-found multiple businesses, predominantly in tech and media, along with real estate investment ventures.

Examining his career, it's evident that he possesses a potent and influential network, particularly in Asia.

However, we're engaging with Thomas Zilliacus due to his imminent role as probably one of European football's most innovative and open-minded investors. The landscape is populated with Americans, many of whom are part of private equity-driven ownership groups. They often adopt a reserved approach, refraining from extensive communication with stakeholders, including fans. Consider the scarcity of interviews with Tom Boehly since his acquisition of Chelsea or the dearth of conversations with the Glazers regarding their ownership of Manchester United over the past 5-10 years. This scenario is consistent across the Premier League, spanning clubs such as Aston Villa, Tottenham Hotspur, and Everton.

Club owners typically eschew interviews, instead favoring periodic written communication with fans.

Thomas Zilliacus presents a marked contrast in this regard. He's widely recognized as an exceptionally transparent investor, unafraid to express his perspectives on a broad spectrum of subjects. He accomplishes this through his Twitter accounts and discussions with journalists, allowing them to pose the questions they deem fit.

"I've even received messages from fans suggesting that I'm being too candid about my intentions," remarks Thomas Zilliacus during a Zoom call from his residence in Finland, where he's currently enjoying the Finnish summer. Despite his global travels and additional residences in Singapore and elsewhere, Zilliacus's transparency remains consistent.

Clubs can do more

He's presently on the verge of finalizing a $500 million sports fund, with a clear emphasis on football club ownership. The fund's scope might also encompass shares in sports-tech companies and other sports-related businesses.

"We could potentially develop our own MCO, but this hinges on the Inter Milan sales process outcome. I emphasize the need to dedicate substantial time to being an effective owner. If we're dealing with a significant club, I can't afford to be spread too thin. While a management team would be in place for implementing changes, I'm not a passive owner. Thus, I must ensure I have sufficient availability before committing to multiple endeavors."

According to the Finnish businessman, his stance on global fanbases differentiates him from most other club executives. While he cherishes local fans, the stadium atmosphere, and the historical and matchday traditions, he contends that both club executives and fans must acknowledge the widespread following many football clubs have around the world.

"Frankly, I believe clubs aren't doing enough to integrate global fans as genuine parts of the clubs they support," asserts Zilliacus.

He's of the opinion that enhancing the focus on global fans shouldn't come at the expense of local fans.

"Given my technology background, I'm convinced that numerous intelligent solutions exist to bring global fans closer to their clubs—whether they support a Spanish, Italian, or German team. While clubs undertake several efforts to engage with global fans, I'm convinced they can do more."

From a business standpoint, he emphasizes that it's not overly logical to primarily focus on the 40,000 or 600,000 fans who have the opportunity to attend the stadium each week.

"There's much more potential if you create and develop excellent solutions for fans around the globe; that would certainly be a priority for me. Club investments should benefit both local and global fans – these aspects are interdependent," he explains.

Substantial new revenue source

As a savvy businessman, he's also invested in a company offering a solution he believes could significantly enhance the emotional connection between a club and a fan situated thousands of miles away on matchdays.

"We possess a patented platform that, as a club owner, I believe can be transformative. It's truly unique, extensively tested, and has yielded exceptional results."

Whether this platform is exclusively for clubs owned by Thomas Zilliacus or a solution that could be marketed to clubs worldwide remains undecided.

Following comprehensive research and development of the digital platform, he has developed services that have generated over €400 per year from each participating fan.

"I understand you can't approach the mathematics by assuming that every social media follower of X club will sign up and buy services for €400 annually. However, we have already created distinct offerings that fans have paid over €400 per year for. New technology in VR and AI have enabled us to develop additional new highly engaging services. I believe the revenue with the launch of these new services will grow further, to more than €500 per year per participating fan. This will create a substantial new revenue source, significantly impacting the future club budgets."

He's cautious about divulging extensive product details, but he indicates that the offering will encompass diverse digital competitions through which fans could win exclusive access to clubs and players. Virtual reality will also be a pivotal element.

"We aim to ensure that fans in Shanghai or Cape Town can authentically experience the energy of a packed stadium through this novel platform."

While many football executives may shy away from referring to fans as customers, Thomas Zilliacus doesn't share that reservation.

"I view investing in football the same way I view investing in any other business. It must be transformed into a profitable entity. Clubs can't solely rely on owners injecting fresh funds when the cash flow dries up, as eventually the club's resources will deplete. What then? A new owner might emerge, but what if that's not the case? What if the new owner lacks business acumen, and the club is compelled to hand over control to someone they are skeptical about? That wouldn't be an ideal scenario," he emphasizes.

"Hence, fans should recognize that it's genuinely in the best interest of a club to be financially successful. This ensures financial stability, allowing the freedom to consistently make decisions that are in the club's best interest."

“I expect more than just fans' admiration”

Q: How do you persuade fans that their club's profitability is important? They typically prioritize signing top players and achieving victories.

"That's a valid question, and I don't possess an answer that will guarantee unanimous support from all fans as an owner. Initially, I believe you need to acknowledge that there will always be dissenters. However, I'm of the belief that through continuous communication, something I dedicate considerable time to, people will eventually, at the very least, respect you for your openness and honesty. In the long run, I hope they will also endorse and support me and my approach."

He recounts a story about a message he received from a football fan a few months ago who disagreed with his emphasis on club profitability.

"This individual wrote to me asserting that I should consider the only profit I would gain to be the love from the fans," he chuckles, "which is a valid perspective, but I disagree. And certainly, if I'm investing hundreds of millions in a football club, I expect more than just fans' admiration."

He underlines that the balance for him is that he wouldn't take dividends from a club if it required substantial investments in its infrastructure.

"As an owner, ensuring that long-term investments are consistently funded is paramount. But if the club is in a solid state, I don't see an issue with paying dividends. However, in the case of Manchester United, we observed dividends being paid while the stadium clearly needed significant refurbishment. That wasn't a wise move."

He clarifies that he wants fans to be co-owners alongside him.

"I hold the belief that fans are the cornerstone of a football club, and I'm not just saying this like many others might. I genuinely mean it, and I put my best effort into communicating with them. I think fans should be co-owners of the club I hope to acquire in the near future. Providing fans with the opportunity to own a significant stake in the club, have representation at the board level, and participate in various decisions is a clear indication of respecting them. They should never meddle in detailed sporting decisions such as which players should be fielded for a particular game, but they can seamlessly engage in discussions about nearly all other aspects of club operations."

He acknowledges the prevailing consensus that fans should be excluded from wielding real influence, but he holds a contrary view.

"If fans become shareholders, they can effectively partake in overall club decision-making. I'm confident that fans will safeguard their investment while making decisions that benefit the club. It works effectively in other industries, where shareholders are represented by a board that they endorse. If they are discontent, the board is replaced. I'm confident this model can also thrive in football."

Real Madrid have filed a complaint with the Spanish National Court requesting the suspension of the changes to the distribution of broadcast revenues announced by LaLiga earlier this month, Spanish media have reported.

Under the new system, LaLiga clubs that voluntarily give broadcasters more access to players and coaches will earn more in media rights this season.

Real Madrid were reported to be the only club to vote against the changes, and stood out as the only team not collaborating with the new broadcast initiatives over LaLiga’s opening weekend.

If they do not embrace the new approach, Real Madrid would reportedly miss out on around €13 million of income this season. The new system affects the 25 per cent of the ‘audience recognition’ criteria for revenue distribution, which is understood to total around €130 million for the current campaign.

Enhance fans’ viewing experience

LaLiga said the changes are designed to enhance the fans’ viewing experience and ultimately generate more income by encouraging clubs to take more proactive initiatives.

The new system is also intended to encourage clubs to enhance the attraction of LaLiga broadcasts, create a more engaging product and improve access for the upcoming LaLiga Netflix series.

LaLiga agrees deal withVisit Saudi to become global sponsor and official tourist destination

LaLiga and Visit Saudi have announced a global partnership agreement, with the Gulf state’s tourism authority becoming a global sponsor and official tourist destination of the Spanish league.

In a statement, LaLiga said the collaboration will aim to strengthen links between the two countries, including their footballing cultures.

“Today’s partnership agreement demonstrates the strong historical connection between LaLiga and Saudi Arabia – for over 15 years LaLiga games have been followed by millions of football fans across the Kingdom, Saudi football players have played in Spain as well as Spanish players in the Saudi league, and Saudi now has more than six official fan clubs for LaLiga teams,” it said.

“LaLiga is one of the most followed leagues in Saudi Arabia and this collaboration between LaLiga and Visit Saudi will further strengthen this connection and inspire the next generation of Saudi footballers to play for LaLiga teams in the future.”

High-profile launch event

LaLiga said brand activations will include a wide range of activities, including a high-profile launch event, with LaLiga and Visit Saudi jointly showcasing Saudi Arabia’s “exceptional tourism offerings, captivating a diverse audience of local, regional and global visitors.”

The Spanish competition added: “This collaboration aims to ignite a renewed interest in football-driven tourism, enriching the appeal of unmatched travel experiences and fostering a vibrant connection between sports enthusiasts, and both tourism and cultural destinations.”

New $100 million multiclub fund targets controlling stakes in women’s football teams

American-born Greek-Argentine businesswoman Victoire Cogevina Reynal is planning to start buying controlling stakes in women’s football teams through a new multiclub fund which is raising an initial $100 million for its first deals, according to Bloomberg.

The tech entrepreneur’s new company Mercury 13, named after a group of female pilots who weren’t allowed to join NASA’s astronaut programme because of their gender, is said to be targeting professional women’s teams in Europe and Latin America, some of which are owned and managed by their corresponding men’s clubs.

The company is understood to be close to announcing an acquisition in England and is in advanced negotiations for potential deals in Spain and Italy. The move would be one of the first dedicated examples of multiclub ownership outside the men’s game.

Mercury 13, which is backed by investors including European family offices and former professional female and male footballers, is also studying other potential targets in countries including Argentina, Uruguay and Greece.

No investment in American clubs

However, a source said Mercury 13 won’t be investing in US-based teams because they are too expensive and because it sees more growth potential in the women’s game in Europe.

Separately-run women’s clubs are more common in the US, home to the likes of Angel City FC and Washington Spirit. Laura Ricketts, co-owner of the Chicago Cubs baseball team, is reportedly pursuing a $35 million-plus takeover of National Women’s Soccer League club Chicago Red Stars.

Cogevina Reynal previously launched Gloria, a football app that was sold to media platform OneFootball last year. Prior to Gloria, she co-founded football agency SR All Stars.

According to reports, there is growing speculation that Saudi Arabian clubs, particularly those controlled by the Saudi Arabian Public Investment Fund (PIF), are interested in participating in the UEFA Champions League.

While they already have prestigious international competitions like the Arab Cup and the AFC Champions League, it is believed that the Saudi Arabian clubs are eyeing a "wild card" entry into the revamped UEFA Champions League format starting from the 2024/25 season.

This new format would feature a single group of 36 teams, similar to a league, before progressing to the knockout stages. The proposal suggests that the winner of the Saudi Pro League would be granted this wildcard entry, allowing clubs such as Al-Ittihad, Al-Ahli, Al-Nassr, and Al-Hilal to compete against Europe's top clubs.

Global powerhouse

The aim is to enhance their international reputation and gain valuable experience in order to improve their organizational capabilities. This move reflects the ambition of Saudi Arabian football to become a global powerhouse in the sport.

Meanwhile, the president of Serie A, Lorenzo Casini, has called for FIFA to intervene:

"Regarding the large offers from Saudi Arabia, we are in a free market and those with the most resources will naturally try to secure the best talent. However, we must avoid distortions of competition. FIFA is the only organization that can address this issue, perhaps even by implementing reasonable and proportionate salary caps."

 

Ex-Midfielder Deco to oversee FC Barcelona's football department

FC Barcelona have appointed former player Deco as its new sporting director, the club announced Wednesday.

The Portuguese midfielder, who played for Barcelona from 2004 to 2008, has signed a three-year contract and will work alongside coach Xavi to strengthen the squad during the current transfer window.

According to the statement Deco will be responsible for setting the club's sporting philosophy and overseeing the football department. He replaces Mateu Alemany, who will remain with the club until the end of the transfer window in September. FC Barcelona stated that Alemany and Deco will collaborate during this period. The club plans to release further details about its sporting structure in the coming weeks.

Alemamy to Spurs?

At the same time transfer journalist Fabrizio Romano has reported that Tottenham Hotspur are considering Mateu Alemany as their new Director of Football.

Since Tottenham dismissed Fabio Paratici late last season, the club have been searching for a replacement. Alemany had come close to joining Aston Villa in May but ultimately reversed his decision, opting to continue his tenure at Barcelona instead.

 

Chelsea allegedly disregarding financial rules for quick success, claims ex-Man City advisor

According to former Manchester City financial advisor Stefan Borson, Chelsea are deliberately flouting the Premier League's profit and sustainability rules in order to expedite the club's success.

Borson, who has extensive knowledge of Financial Fair Play, claims that Chelsea's recent extravagant spending spree is part of a strategy orchestrated by Todd Boehly, who overpaid for the club when his consortium purchased it last year.

Borson stated in an interview with talkSPORT, "There's nothing that any of us can say on the outside that they haven't thought about and that's why I posit that this is all part of a strategy. To deliberately ignore the Premier League's profit and sustainability rules in order to accelerate the success of Chelsea.

"That's partly because we all know in the background that Boehly, for all of his business success and wealth, has overpaid for Chelsea by a very considerable amount. It happens. Wealthy people sometimes make mistakes and he's made a mistake in terms of what he paid for the club. He now wants to accelerate the success of the club."

Spent more than all LaLiga clubs

Chelsea's significant spending, which includes the recent £115 million acquisition of Moises Caicedo, has raised questions about how they are able to comply with the league's financial regulations.

The Blues' outlay on new talent is now over £800 million in the three transfer windows since a Todd Boehly-led consortium purchased the club in 2022.

Chelsea have spent more than all clubs in LaLiga combined in that period and have only narrowly been outspent by the 18 clubs in Germany's top-flight.

The Premier League has implemented a new rule in response to Everton's Financial Fair Play (FFP) charges from last season, writes the Daily Mail.

Under Rule E.48, clubs that are projecting losses must provide audited accounts to the Premier League by December 31, rather than the usual March 31 deadline. This change aims to ensure that any disciplinary cases resulting from alleged FFP breaches are resolved before the end of the same season.

Everton have denied any wrongdoing and plans to vigorously defend themselves in an independent commission later this year. However, other clubs have been openly skeptical of their claims of innocence.

Southampton, Leicester, Leeds, Nottingham Forest, and Burnley wrote to the Premier League at the end of last season, arguing that they should be entitled to share compensation of up to £300 million if Everton is found guilty of breaching spending rules.

In response to these concerns, the Premier League swiftly introduced this rule change to expedite case resolutions and reduce potential conflicts between clubs.

£372 million losses

Everton managed to avoid FFP charges for the 2021/22 season despite reported losses of £371.8 million over a three-year accounting period, exceeding the Premier League's limit of £105 million. However, they were subsequently charged with a rule breach for the next three-year period in March 2023.

The Premier League's disciplinary hearing is scheduled for October, meaning any points deduction resulting from a guilty verdict would apply to this season.

 

Potential Chelsea investment leads Ares Management to reevaluate Crystal Palace involvement

As Ares Management. evaluates the prospect of investing in Chelsea FC, the global alternative investment firm is contemplating a shift in its existing relationship with Crystal Palace FC.

According to Bloomberg, Ares is considering changes to its involvement with Eagle Football Holdings, which currently owns approximately 40 per cent of Crystal Palace. These potential changes may include stepping back from its board position with Eagle Football, allowing the firm to explore opportunities with rival club Chelsea without violating English Premier League regulations on multiclub ownership

The move comes after reports that Ares is in talks to invest in Chelsea, which could pose a challenge due to Premier League rules on multiple club ownership. These rules aim to prevent conflicts of interest and protect the league's competitive integrity.

Rapidly expanding group

Eagle Football's influence at Crystal Palace is primarily exerted by its founder and majority owner, John Textor. Ares has not made any final decisions regarding its position at Eagle Football.

The deliberations highlight the challenges that investment firms can face when trying to build exposure to football. Eagle Football is one of a rapidly expanding group of multiclub owners that hold stakes in various clubs in different countries. Ares invested in Eagle Football last year when the group acquired Olympique Lyonnais.

 

Brighton CEO surprised by Caicedo's decision to reject Liverpool for Chelsea

Brighton CEO Paul Barber has expressed his surprise at Moises Caicedo rejecting Liverpool for Chelsea.

Speaking to talkSPORT, Barber commented, "Liverpool’s a fantastic football club. For any footballer to have the chance to play at Liverpool, you’d imagine that they’d be running up the M6 but it wasn’t to be."

Liverpool had initially secured a £111 million deal to sign Caicedo, but the midfielder made a U-turn and expressed his desire to join Chelsea instead. The Blues subsequently announced their signing of Caicedo for a fee of £115 million.

Pushed for a transfer to Arsenal

According to Barber, Caicedo and his advisors had always preferred a move to London, as they had previously pushed for a transfer to Arsenal in January. Despite the unexpected change of plans, Barber praised Liverpool for their professionalism throughout the negotiations.

Following the failed Liverpool deal, Brighton quickly shifted their focus to Chelsea in order to protect their interests and secure a transfer fee for Caicedo.

The Premier League is reportedly planning to close the Financial Fair Play (FFP)-related contract loophole that Chelsea has been exploiting, according to the Daily Mail. The league aims to align its accounting rules with UEFA's regulations, which include a five-year limit for spreading transfer fees. Currently, there is no such restriction in the Premier League.

Chelsea's recent signing, Moises Caicedo, will become the 22nd player at the club with a contract longer than five years. His eight-year deal allows the club to spread the £115 million transfer fee over the duration of his contract. However, UEFA's new ruling will not affect Chelsea this season as they did not qualify for European competitions.

The Daily Mail has learned that the anomaly in accounting rules has been raised with the Premier League by several clubs and is set to be discussed at shareholders' meetings this season.

The aim is to introduce a rule change next summer to align with UEFA's regulations. The change would prevent clubs from spreading transfer fees over longer periods and potentially breaching spending limits.

Avoid immediate FFP breaches

Chelsea's use of longer contracts has been influenced by owner Todd Boehly's experience in American sports, where such deals are more common. This strategy allows the club to avoid immediate FFP breaches, as their significant spending last season was offset by the long-term accounting cost of these contracts. Additionally, Chelsea has generated substantial income through player sales this summer.

The new UEFA ruling on transfer fee spreading will only apply to Chelsea signings from next summer onwards. It is expected that the Premier League will have implemented similar regulations by then.

 

Swiss prosecutors to close investigation into former attorney general's meetings with FIFA president

Swiss special prosecutors are set to close their investigation into the former attorney general, Michael Lauber, who had undisclosed meetings with FIFA president Gianni Infantino during a probe into international football, writes Swiss media.

Lauber lost his job as the top Swiss federal prosecutor due to the fallout from these meetings. The decision to close the investigation was reportedly communicated to Lauber by the special prosecutors.

FIFA stated that the intended dismissal of the case was not surprising, as Infantino had been under suspicion for several years.

Both Lauber and Infantino claimed not to recall the details of their meetings, which were revealed in the Football Leaks series published by Der Spiegel. The investigation into Lauber focused on possible abuse of public office, with Infantino implicated in inciting him.

Infantino to address the matter

Lauber was later found to have misled and obstructed an oversight office, leading to his removal as Switzerland's attorney general in 2020. The first special prosecutor in the case was removed after Infantino complained of bias, and Weder and Maurer took over.

FIFA stated that Infantino would address the matter after the Women's World Cup and once the prosecutors officially communicate their decision.

FC Barcelona have announced a merger deal with a special-purpose acquisition company (SPAC), Mountain & Co. I Acquisition Corp, to list a $1 billion new content creation business, Barca Media, on Nasdaq.

The deal, which is still subject to approval by club members and the SPAC's shareholders, aims to bring in new capital and strengthen the club's presence in the digital and audiovisual sectors.

According to FC Barcelona, the agreement will allow Barca Media to access additional financing through the US capital markets and expand its distribution of content to new audiences globally. The merger is expected to close in the last quarter of this year, pending approval from the US stock market regulator.

Barca Media will combine the digital business of existing brand Barca Vision with all audio-visual content. Existing shareholders of Barca Media will retain an 80% stake in the media business, assuming no redemption of shares by Mountain's shareholders and no further capital raising.

€120 million boost to register players

In addition to the merger, investment funds Libero Football Finance and NIPA Capital have acquired a combined 29.5 per cent stake in Bridgeburg, the holding firm that owns Barca Vision, for €120 million. In a statement Libero, which showcase Peter Kenyon and Fredi Bobic as boardmembers at their site, revealed it had purchased a 9.8 per cent stake for €40 million.

The money was a very important step to get players registered before the season opening in LaLiga.

 

Chelsea FC's owners confident of major reset after calamitous first year

Chelsea FC's US owners, led by Todd Boehly and Clearlake Capital, are confident that a major reset will prevent a repeat of their disastrous first year in charge.

The club suffered its worst season in almost three decades finishing 12th in the league and failing to qualify for European football after spending record amounts on players.

The owners are now focused on making key additions to both the sporting and commercial operations, including talks with potential investors like Ares Management. They also plan to hire more executives to strengthen the club's commercial operations.

Speaking to the Financial Times, Chelsea chair Todd Boehly said: “We feel really good about the sporting side of the house. Morale is high and the culture is good. On the commercial side, we’ve got a lot of new hires. We’re excited about the path ahead.”

Huge loss in 2022

Fresh capital could be used to bolster the club’s finances ahead of a possible stadium redevelopment and a further push into multi-club ownership following the recent purchase of French team RC Strasbourg.

Chelsea made a pre-tax loss of €143 million on revenues of €568 million in the year ended June 2022.

 

Newcastle United CEO: Our objectives unaffected by owners investment in Saudi

According to Newcastle chief executive Darren Eales, the significant investment from Saudi Arabia in domestic football will not hinder Newcastle United's objectives.

The Public Investment Fund (PIF), which owns an 80 per cent stake in the club, has made substantial investments in several Saudi Pro League teams, attracting high-profile players with lucrative contracts. Newcastle themselves have benefited from this investment, with Allan Saint-Maximin's move to Al-Ahli reportedly resolving a Financial Fair Play issue.

Eales addressed the disparity between Newcastle's more modest approach and the extravagant spending in Saudi Arabia, stating in an interview with the Independent:

"The reality is they came in and it has been incredible, fighting relegation to finishing 11th, then finishing fourth. We have very shrewd operators in our ownership group. We have got a great skill-set and set of people who have experience in various businesses. They understand it is a long-term plan not short-term."

Long term vision

Despite accusations of sportswashing, PIF's investment in Newcastle has been relatively modest compared to its overall wealth. Eales emphasized that the owners are not frustrated by their inability to spend vast sums in the Premier League, as they have a long-term vision for the club's growth.

Newcastle has made significant signings during the summer transfer window, strengthening their squad under manager Eddie Howe. The club aims to build on last season's top-four finish and return to the Champions League after a 20-year absence.
 

LaLiga files complaint against PSG with European Commission

LaLiga has filed a complaint with the European Commission against Paris Saint-Germain, alleging that the Qatari-backed club is distorting markets through subsidies from the Gulf state.

The complaint specifically targets PSG's "spending commissions" and claims that these practices have allowed the club to sign top players and coaches "well above its potential in a normal market situation."

LaLiga argues that PSG have received foreign subsidies from Qatar, which have improved its competitive position and generated significant distortions in national and EU markets.

A commission regulation on foreign subsidies that came into force last month gives it "the power to investigate financial contributions granted by non-EU countries to companies engaging in an economic activity in the EU and redress, if needed, their distortive effects".

Eliminate market distortions

"LaLiga trusts that the European Commission, thanks to this new regulatory tool, will take the necessary measures to eliminate market distortions such as those described above, which seriously damage the sporting ecosystem."

This move follows LaLiga's previous complaint to UEFA against PSG and Manchester City for alleged violations of financial fair-play regulations. PSG has made high-profile signings in recent years, including Neymar and Kylian Mbappe.

 

Sochaux's former president completes takeover, ending Chinese conglomerate's era

Jean-Claude Plessis, the former president of Sochaux, has successfully completed the takeover of the club, marking the end of the era of Chinese conglomerate Nenking and club president Frankie Yau, according to L’Est Républicain.

Plessis, along with his associate Pierre Wantiez, is now focused on presenting a viable budget to the French football financial watchdog, DNCG, in order to secure Sochaux's participation in the French third-tier this season.

The primary objective for Plessis and Wantiez is to obtain approval from the DNCG for their proposed budget, writes the French outlet. If successful, Sochaux would be eligible to compete in National 1 and would request placement in the third-tier.

Bankruptcy looming

However, if the DNCG rejects their budget, it could have dire consequences for the club. The sale agreement between Nenking and the new owners would be voided, potentially leading to bankruptcy proceedings.