Tom Vernon is not your typical CEO. He doesn't talk about big money transfers or the trophies that the Right To Dream clubs should win. Instead, he shares a story about an 80-year-old Greek woman who had a dream of visiting the Louvre in Paris, the renowned museum displaying some of the world’s most iconic works of art.

"There was a Greek guy who suddenly realized that he had never asked anyone in his family about their dreams. So he asked them, including his 80-year-old mother. He was surprised by her answer: She wanted to go to the Louvre. So he took her to experience all the fine art. It may be a small story in a vast world, but for me, it emphasises the essence of our brand. What we do, enabling everyone to have a dream, is relevant to everyone," says Vernon, CEO of Right To Dream.

Worldwide operation

As head of the group, Vernon is a visionary leader who always sees the bigger picture and never forgets the greater purpose of the Right To Dream Group. It operates four academies worldwide (Ghana, Denmark, Egypt, and San Diego) and three elite teams, including FC Nordsjælland in Denmark, San Diego (set to play in MLS in 2025), and FC Tut, one of the top women's football teams in Egypt.

"While we often focus on whether kids are economically disadvantaged or not, we can see that the welfare system in Denmark and Western Europe, in general, provides incredible support, and young people in Europe are privileged compared to what we witness at our academy in Ghana," Vernon explains.

However, he believes it is narrow-minded to view the world solely from that perspective. After living in Denmark for many years as chairman of FC Nordsjælland, he has now relocated with his family to the UK.

"I guess that many Danish parents would agree with me that their teenagers are somewhat trapped on social media. What if you asked them about what their dreams were? Would they even know? Have they even thought about it? I am not trying to blame anyone here, just asking the simple question that maybe kids and young people from Denmark and other Western countries could meet someone their own age from other parts of the world through our Right To Dream project, and maybe those stories could truly inspire them."

For Vernon, these thoughts capture the potential of Right To Dream. He envisions all these kids, whether from Denmark, Ghana, Egypt, the US, or Mexico, having fascinating stories to tell. It's not necessary for them to break through to the first team or secure big-money moves to European clubs.

"At its core, our project is about character building. Everyone who is part of the Right To Dream family is developing as human beings. That is our focus, and then some of them end up playing football at the highest level. But I genuinely believe that we have many interesting stories to tell about young people finding their way in this world. And they are not necessarily the best footballers."

Compelling content

This is where the group plans to make significant investments in the coming years.  It aims to build a concept and strategy that can transform these stories into compelling content, targeting fans worldwide, not just those who support teams within the Right To Dream group.

"Imagine yourself being a fan of a team in Denmark, which is not FC Nordsjælland. But you might be fascinated by a young kid from Ghana playing football in our academy in San Diego or a kid playing in Egypt. We can create fantastic documentaries and other types of content about these young individuals who are fulfilling their dreams. I believe that these truly touching stories could captivate you and millions of other football fans around the world," Vernon says.

He emphasises that the approach to content is holistic and goes beyond simply documenting a player's performance for a specific club. For Vernon and Right To Dream, the focus is on the person, their journey, and their dreams, rather than the club they represent.

"We believe this would appeal to quite a few, and they might subscribe to some of our social media channels, even though they don't support any of our teams. But maybe they would support our vision?" He asks.

He is confident that in a couple of years' time, the group will have found a model where it can generate substantial revenue through its content. This additional revenue would provide it with the opportunity to open more academies around the world.

Vernon reveals the group has already had discussions with some of the world's leading streaming platforms, which see great potential in the stories being created at Right To Dream. However, his group hasn't been able to strike a deal with any of these platforms so far.

"I see two problems. First of all, they are all in search of jeopardy. And we are not necessarily interested in highlighting the stressful periods that our athletes go through. We acknowledge that there are tough times, and we only want to produce honest content. But it seems like the aspect of jeopardy should be the primary driver of the content, and we don't see it that way."

Secondly, Right To Dream and Vernon are also after a partner who is willing to share the content without charge in Africa.

"What we do is try to improve people's lives. And then we can't be part of something where we can truly inspire millions of kids in Africa, and then ask them to pay for a subscription, which would be a lot of money for a kid in Africa. That would be wrong. So we need to find a model where we can charge those who can afford it. We believe that these stories featuring our young footballers are educational for everybody, and we just have to continue working hard to develop the right business model around this," says Vernon.

American acqusition

Currently, Vernon and his colleagues at Right To Dream Group are focused on a reorganisation to benefit from their latest acquisition, the San Diego MLS team, purchased together with the Sycuan Band of the Kumeyaay Nation. The tribe has resided in and around San Diego for more than 12,000 years. However, the team will not participate in the MLS tournament until 2025.

"San Diego, which we consider a strategically great location for us, is just 15 kilometers from the Mexican border. It would probably be fair to say that in Mexico, some kids are further disconnected from their dreams compared to the US. So we feel that we are tapping into a very big market where we can make a significant difference."

Vernon explains that the soccer model in America could be described as a "pay-to-play" system, which excludes many kids from playing football. Additionally, he feels that the MLS is one of the best leagues in terms of giving young talents a chance to play senior football. Vernon, who used to be a scout in Africa for Sir Alex Ferguson at Manchester United, says the diversity of playing styles in the MLS is unique compared to most other leagues.

"You won't play against similar teams week in and week out in the MLS. It is such a big country, so you see many different playing philosophies. Some teams are very much inspired by a Latin-American style, while you encounter something very different when you travel to Vancouver in Canada to face their team. This is the perfect league for our young players as they need to learn to adapt to different styles of play," says Vernon, also highlighting that the group is now entering a massive market with 350 million potential fans.

"This is also why we see content as a growth driver for us in the coming years. We believe that we can offer something new, honest, and very special to this large market."

British billionaire Sir Jim Ratcliffe is prepared for Manchester United’s protracted takeover saga to enter the new season if required, The Guardian reports.

It is understood the Ineos founder is putting no timeframe on when the Glazer family need to make a decision and remains patient regarding the process.

If there is no resolution by the middle of August, when the 2023/24 campaign starts, it will be nine months since the Glazers announced that they were starting “a process to explore strategic alternatives”.

Ratcliffe is yet to hear from the American family after tabling his bid to obtain a majority shareholding in a deal that may retain one or more of the Glazers as minority owners.

Sheikh Jassim unsure about intent to sell

Meanwhile, Sheikh Jassim bin Hamad al-Thani, the other publicly declared interested party, is believed to have become frustrated at the length of the process.

The Qatari banker’s fifth and final offer was lodged in early June and is for no more than £6 billion. He is said to be unsure about the Glazers’ intent to sell.

Leeds United announce EFL approval of 49ers Enterprises takeover

Leeds United have announced that the English Football League (EFL) has approved the sale of the club to American investment group 49ers Enterprises.

The chairman and majority shareholder, Andrea Radrizzani, agreed to sell his controlling stake last month and the deal, which includes full ownership of Elland Road and values the club at around £170 million, has now been confirmed.

49ers Enterprises, which owns NFL franchise the San Francisco 49ers, has steadily increased its stake in Leeds since becoming a minority shareholder in 2018. The group upped its stake in the Yorkshire club to 44 per cent in 2021.

In a statement, Leeds confirmed that Paraag Marathe, previously vice-chairman, will take over as chairman, while CEO Angus Kinnear will remain in his current position and Rudy Cline-Thomas, founder and managing partner of venture capital firm Mastry, will join the board as co-owner and vice-chairman.

Gretar Steinsson new technical director

Leeds have also announced that Gretar Steinsson has joined the club from Tottenham Hotspur in the role of technical director. He will work alongside Nick Hammond, who will continue to oversee player trading throughout the current transfer window.

Adam Underwood will step up to become head of football operations, whilst Hannah Cox and Rob Price complete the team, as head of football administration and head of medicine and performance.

Chelsea move closer to Stamford Bridge rebuild after winning bidding war for 1.2 acre plot

Chelsea have reportedly taken a significant step towards committing to the £1.5 billion rebuild of Stamford Bridge after winning a bidding war to buy a 1.2 acre plot of land next to the existing stadium.

As reported by The Daily Telegraph, housing association Stoll has confirmed the sale in principle of the land to the West London club, who are believed to have agreed to pay around £80 million to see off 12 other bids.

While buying the land does not yet offer a cast-iron guarantee that Chelsea will remain at Stamford Bridge, sources confirmed to The Telegraph that it is a big step in that direction and points towards the club’s owners working towards that plan.

The sale of the Stoll site to Chelsea is still subject to resident consultation, which will end on 20th September when a final decision will be confirmed.

Chelsea still have a number of logistical problems to overcome to rebuild Stamford Bridge on the existing site, but buying the Stoll land will give the club the capacity to open up a large area in front of the stadium to create a fan experience and build offices.

Earl’s Court move

Meanwhile, according to The Guardian, it is understood that Chelsea view moving to nearby Earl’s Court as an attractive proposition if they are unable to find a way to stay put.

Any move would depend on the club receiving backing from the Chelsea Pitch Owners, who own the freehold of Stamford Bridge stadium and the name Chelsea FC, and that would require significant negotiation.

Manchester United sales process under criticism from interested buyer

Thomas Zilliacus, the Finnish businessman who attempted to purchase Manchester United, is unimpressed with the sales process of the club, which he describes as a "play" in an interview with Danish football publication Tipsbladet. At the same time, he acknowledges that he should have presented his own bid much more thoroughly, but entered the process too late.

"The entire process has become somewhat of a play. Numerous new bidding rounds and so forth, and I think it reflects that the Glazers don't really know what they want," he adds, suggesting that he wouldn't be surprised if the Glazers decide to remain as primary owners.

Unprofessional process

"It wouldn't be fair to judge people that I have never met. However, the sales process that they are in charge of (led by Raine Group) is not particularly professional. If you have three serious buyers, then the normal thing to do would be to invite each one to negotiate. Instead, we have these anonymous bidding rounds over and over again, where the interested parties, to my knowledge, don't really know what is going on."

In the interview, Thomas Zilliacus also clarifies that it was never his intention to fund only half of the takeover and expect fans to buy the rest of the shares. However, in the long term, he wanted to provide fans with the opportunity to own half of the club, as he believes that would be the best ownership structure for the club.

MLS commissioner DonGarber welcomes Saudi Pro League growth

MLS Commissioner Don Garber has declared that the growth of the Saudi Pro League poses no threat to Major League Soccer but is an opportunity to grow the game around the world.

Speaking to reporters ahead of Wednesday's MLS All-Star game in Washington, Garber said: "I believe that emerging leagues in emerging markets, having energy and having investment and creating noise is a positive.

"For many years, we were that challenging league and we're in a different spot than we were in the past. I don't look at that as a threat in any way to Major League Soccer. I actually think it's positive for the sport. I wish them well."

Rise of CONCACAF

Garber also likened the growth of the Saudi Pro League to the rise of CONCACAF. "I am a supporter of CONCACAF,” he said. “I have seen the energy and investment that's gone into this part of the world.

"I want to see the rest of the world being a big part of the soccer family – whether that's in Saudi Arabia or whether it's in Asia, whether it's in the emerging professionalism of some of the leagues in South America."

Garber added that he hopes an MLS club will get the chance to play a Saudi team at the expanded 32-team Club World Cup, which will be held in the US in 2025.

(Sydney) In the end, the big kick off had something of a rushed feel.

18 minutes after co-hosts New Zealand kicked off the opening match of the 2023 FIFA Women’s World Cup in Auckland, FIFA rushed out a press release unveiling its two final sponsors for the tournament.

2100 km north west in Sydney, where it would have been virtually impossible to know that the country was staging the World Cup until a day before it started, construction workers toiled through the night adorning lampposts and buildings with Women’s World Cup branding to give the city something of the sense that it was hosting its biggest international sporting event since the 2000 Olympics.

“The FIFA Women’s World Cup 2023 is set to be the biggest stand‑alone women’s event in history, and it’s truly incredible to see our fantastic partners and supporters engage with the potential of this unique event,” said FIFA’s Chief Business Officer Romy Gai.

In announcing commercial partnerships with Hublot and the Brazilian bank Itaú, Gai had increased FIFA’s sponsorship portfolio from 12 to 30 commercial partners (an earlier, ill-considered deal with the Saudi tourism board was ditched after local protests), an impressive achievement that reflects women’s football’s upward trajectory.  But only a day earlier FIFA had announced a deal with the travel website, booking.com. The assumption is clear: sponsorship deals were being conducted right up until the wire, just as broadcast contracts have been.

“Today, I am… tired,” the organisation’s usually hyperactive president, Gianni Infantino, said at a press conference in Auckland on Wednesday. His statement was a play on a notorious briefing he gave in Doha before the men’s World Cup last November, when he declared himself an immigrant and “gay”, amongst other things.

Infantino gave platitudes about the “future” being “women” and anticipating the “the greatest FIFA Women's World Cup ever", but his true ambitions for the game and full vision for the tournament’s legacy is known only to him and his colleagues. Accredited media for the tournament were neither notified nor invited to his press conference.

In a video clip Infantino said his “only message” was for the Australian and New Zealand publics to “seize the moment”. FIFA declined to comment or offer background on its commercial and broadcast ambitions.

Local crisis

At the Football Writer’s Festival staged under the shadow of Sydney’s iconic Great Harbour Bridge last weekend, there was considered debate about the implications of the tournament.

Craig Foster, a former Socceroo and now one of Australia’s leading sports broadcasters, talked about football in Australia as a sport that had failed to move on. He talked about the discrepancy between the focus on the women’s World Cup now and the reality facing the sport more regularily in Australia.

Foster cited the lack of willingness to “confront fundamental questions” facing the sport. These included lack of indigenous Australian representation, physical and sexual abuse scandals, and overall lack of media attention on the sport. There needed to be “courageous and difficult conversations” he said.

“The industry hasn’t been willing to have conversations around the issues facing it,” he added.

The World Cup offered an opportunity to move football and Australia as a country on, he said, but it could only do so by addressing its fundamental challenges.

“We know about football’s dark side. We have to take the opportunity to bring it into the light,” Foster added.

“You can’t build a legacy on such unsteady foundations. We preach inclusivity, we preach diversity, but we don’t practice what we preach,” added Elissia Carnavas, a former Matilda player, which is the nickname given to an Australian woman’s international player.

“Football [in Australia] isn’t a game in charge of its own financial future,” said Nicholas Ruppolo, a communications expert with experience as a sports journalist and sports administration in Australia.

He cited poor administration of the domestic game, TV deals that didn’t give primacy to the sport, and a failure to harness Australia’s fiercely passionate and tribal football community, who base their identity on commitments on “equality, fairness, compassion and inclusion.”

“There is nothing more painful than an unfulfilled dream,” he added.

He said that hosting the WWC was simply expedient for Football Australia and said that no long term thought had gone into it. Citing former Australian Prime Minister Paul Keating - ‘In the race of life, always back self-interest — at least you know it's trying’ - he said: “That is the story of football in Australia.”

Game changing event

Others put a more optimistic complexion on the event.

“The discussion isn’t about if it is giving to be a game changer, it is how it is going to be a game changer,” said Dr Fiona Crawford, adjunct lecturer at the Queensland University of Technology's Centre for Justice and co-author of Never Say Die: The Hundred-Year Overnight Success of Australian Women's Football.

She cited money, media, mentality and what she termed “men’s mentality” as the reasons why it was a game changer.

“Men’s football needs women’s football in Australia more than the other way around,” she added, citing a recent interview Football Australia CEO James Johnson gave to the Australian Financial Review.

In it Johnson admitted that the award of the Women’s World Cup in 2020 in the midst of the pandemic saved Football Australia from the financial abyss.

“It was rock bottom,” Johnston told AFR Weekend. “Winning the Women’s World Cup became our way out, our way to keep the Football Federation Australia lights on, to keep the ship above water.”

“All of a sudden, we could talk to bringing the biggest sporting event since the Sydney 2000 Olympic Games to Australia.”

Low profile build up

Admittedly the lack of pre-tournament marketing presence in Queensland and Sydney in the weeks leading up to the tournament was not dissimilar to what was seen in France four years ago. The face of Matilda’s icon Sam Kerr on a packet of potato chips was the sole presence witnessed until a week out from the tournament, until Fox TV built a huge temporary studio replete with FIFA’s branding close to Sydney’s Opera House.

FIFA’s well fed “Family”, the assortment of committeemen and women, officials and hangers on, were late to arrive at the tournament, with their base at Sydney’s Park Hyatt conspicuously quiet. Infantino was nowhere to be seen and no media appearances were planned in Australia before the big kick off. There seemed to be little local engagement either; the Football Writer’s Festival - despite the presence of key stakeholders - was lazily and wrongly described by a FIFA official as “an anti-FIFA Festival.”

FIFA silence

For FIFA the priority is on TV eyes and ears globally. It has targeted 2 billion total TV reach for the tournament, nearly double what it was in France four years ago. Whether that is realistic given the challenges posed by time zones - Australia is 8 or 9 hours ahead of Europe and Africa, and 14 ahead of the USA’s east coast and South America - is another matter.

Infantino’s unnecessary public battle with major international broadcasters won’t have helped the cause. Last October, FIFA rejected bids from various public and private broadcasters for what it described as significantly under-priced bids, urging broadcasters to bid more. As recently as May there was the prospect of a European media blackout for the tournament and although that was averted, only as recently as late June did FIFA confirm a broadcast agreement with Japan - a key and lucrative Asian market.

“The incendiary attitude of Infantino was insane,” a European broadcast executive told this publication on the condition of anonymity. “You don’t try and hold a gun to your partners’ head.  FIFA should be building the women’s game over a sustained period of time and this is not the way to do it.”

The executive added that the world governing body’s responsibilities went beyond the World Cup and beyond 2023. The tournament should be the “anchor” around which the broadcast growth of the women’s game was based in all countries, “not as a cash cow or political tool of the FIFA president.”

Infantino’s behaviour, he added, was “a case study of how not to do things.”

“He hasn’t got more money and he’s antagonised a lot of people.”

“Significant steps”

FIFA’s reticence to be pinned down on revenue numbers for this World Cup extends to even saying whether an earlier pledge that every player at this tournament will earn at least $30,000 will be met.

Research by GlobalData, a data and analytics consultancy, estimates that FIFA’s collective annual rights are worth $307 million annually, but that these predominantly derive from the likes of Wanda and Coca Cola, and are linked to larger rights packages linked to the men’s World Cup and other FIFA competitions.

Jake Kemp, an analyst at GlobalData, has nevertheless praised FIFA for splitting its rights packages and says that in doing so it will have raised the value of income for the women’s game.

“GlobalData expects the growth of women’s soccer to continue in the coming years, but the selling of commercial rights with the 2023 World Cup appears to be a significant step taken for women’s sport in general,” he said.

“As the organizers commit harder to the evolution of the game, it has a knock-on effect, with more money being channelled throughout the sport which only elevates the standards and interest in the sport itself. Expect women’s soccer only to grow over the next decade, with even greater commercial revenue expected at future competitions and even greater brand commitment.”

Real Madrid have reported a €11.8 million profit for the 2022/23 financial year, down slightly from the €13 million surplus achieved in 2021/22, despite earning higher revenue.

In a statement, the Spanish giants said 2022/23 income, excluding player transfers, reached €843 million, an increase of €121 million (17 per cent) on the previous year and exceeding pre-pandemic revenues for the first time (€757 million in 2018/19).

The club said that stadium revenues, limited by the renovation project of the Bernabeu stadium, were still 13 per cent lower than in the 2018/19 season.

However, it added that income from other areas have already exceeded pre-pandemic levels, with marketing revenues (up 12 per cent) standing out in particular.

In profit for four successive years

The result means that Real has managed to remain in profit over the last four financial years despite the negative impact of the Covid-19 pandemic and the €893 million stadium revamp, which is set to be complete by the end of this year.

The club also reported that net debt remains negative, standing at a net liquidity position of -€47 million as of June 30, 2023. Real added that it maintains a “solid equity situation” with a net worth of €558 million and cash of €128 million as of June 30, 2023.

UEFA block FC Barcelona and Real Madrid’s future revenue stream lifelines

Real Madrid and FC Barcelona have been told by UEFA that cash generated from the sale of future revenue streams will not be considered as legitimate profit in its financial fair play (FFP) consideration, The Daily Telegraph reports.

Last summer Barcelona generated around €500 million from selling 25 per cent of its broadcast revenues for the next 25 years, and a further €200 million from the sale of 49.5 per cent of the subsidiary Barca Studios, while Real gained €360 million from the sale of future income from the remodelled Bernabeu.

In both club’s financial results the up-front cash payments in return for a stake of future earnings have been presented as profit. However, it is understood that UEFA has treated the funds generated by both clubs as debt.

Huge pressure on Barcelona

The decision is said to put huge pressure on Barcelona to comply with FFP in the next cycle. It is understood the club had hoped to book a further €400 million of cash from the sale of future income streams in the next financial year. It is now clear that UEFA will not recognise that revenue as FFP compliant.

Meanwhile, the developments are said to go some way to explaining why Real’s activity in this summer’s transfer market has been so limited – aside from the arrival of English midfielder Jude Bellingham from Borussia Dortmund for €103 million.

MLS to consider allowing investment from sovereign wealth funds

Major League Soccer commissioner Don Garber has revealed that it is considering permitting sovereign wealth funds to invest in its teams, as reported by Bloomberg.

Garber told the Allen & Co. Sun Valley Conference, an annual media finance gathering, that the MLS’ board members will discuss the topic at a meeting this week in Washington.

The commissioner said the board is following in the footsteps of other US sports leagues, including hockey and basketball. In a Bloomberg TV interview, he said: “The NHL and NBA have looked at having sovereign funds and pension funds. The MLS is looking at the same thing.”

The NBA recently accepted its first sovereign wealth fund investment. The Qatar Investment Authority bought a 5 per cent stake in Monumental Sports & Entertainment, the owner of the Washington Wizards, Mystics and Capitals. The deal valued the MSE at $4.05 billion, according to Sportico.

Lionel Messi deal

Garber also confirmed that Lionel Messi’s deal to join Inter Miami includes a stake in the club and revenue-sharing agreements with Apple and Adidas.

The commissioner said the MLS probably won’t sign another deal as large as the one that clinched the Argentine World Cup winner’s hiring, but said he’s open to it if the right situation comes up.

“The likelihood of ever having a situation with a player, where they get an opportunity to participate in equity, is probably something we’ll never do again,” Garber said. “There was only one David Beckham. There is only one Lionel Messi.”

FC Barcelona and Manchester United fined by UEFA for FFP breaches

FC Barcelona and Manchester United have both been fined by UEFA for breaches of Financial Fair Play (FFP) regulations.

The Spanish club was fined €500,000 for erroneous accounting practices in relation to FFP. Barça had tried to submit a portion of its sale of 25 years of future TV rights income – understood to be €266 million – as legitimate revenue for its FFP consideration for the 2022/23 financial year, but that was rejected by UEFA.

In a statement, UEFA’s Club Financial Control Board said Barcelona were given the fine for “wrongly reporting” what it described as “profits on disposal of intangible assets (other than player transfers)”. It added that the profits were not “a relevant income under the regulations.”

United, meanwhile, were fined €300,000 for “minor break-even deficits”. A club statement read: “While disappointed by the outcome, Manchester United accepts this fine for what UEFA acknowledges to be a minor technical breach of its previous Financial Fair Play rules.”

Cypriot side APOEL and Turkey's Konyaspor were fined €100,000 each for the same offence as United, while Belgian club Anderlecht were among other teams to receive fines.

Targets fulfilled

AC Milan, AS Monaco, AS Roma, Beşiktaş, Inter Milan, Olympique Marseille and Paris Saint-Germain, who agreed settlements with UEFA last September last, avoided punishments after they were found to have fulfilled the targets set for the 2022/23 financial year.

“The CFCB will continue monitoring their compliance with the settlement agreement during next season,” UEFA said.

Serie A CEO Luigi De Siervo: TV rights target remains €1 billion+ per year despite Sky Italia doubts

Serie A CEO Luigi De Siervo has insisted that the Italian league is still aiming to generate at least €1 billion per year from its next cycle of broadcast rights despite the prospect of losing long-time partner Sky Italia.

Speaking on Italy’s Rai radio channel, De Siervo said: "The goal of the league is that the sale of rights has a value for a single year higher than the current one. The last sale brought revenues of €927 million per year and about €50 million for the Coppa Italia. The goal is to overcome the billion wall.”

However, he added: “The discussion lies in the fact that broadcasters are trying to save as much as possible because there are no direct competitors.

“DAZN, Sky and Mediaset are affected. There are different configurations and the games are all open. … We are in the final phase of negotiations and everyone knows the gap between the offers presented and those that can be successful.”

“Exclusion of a historical player”

De Siervo warned of the possible exit of Sky from the race to acquire the round of rights. "One of the three possible configurations involves the exclusion of a historical player, who has chosen to make different investments,” he said.

“It would be a regret for everyone because we grew up together, but we have to prepare for this kind of scenario. It is one of the hypotheses, but it depends only on them.

“TV must decide whether to continue to be protagonists in the story of Italian football. But the hope is that each of the three partners will find the resources to ensure the transmission of Serie A.”

American investment firm 777 Partners and Saudi Arabia’s Public Investment Fund (PIF) are both aiming to boost their football multi-club ownership interests amid new developments, according to Bloomberg.

The financial news service understands that 777 plans to potentially raise more than €200 million for its portfolio of clubs as it looks to tap growing investor appetite for football.

Sources told Bloomberg that the Miami-based firm has hired sports specialists Tifosy Capital & Advisory to help raise new equity for its football platform, and any money will be used to support 777’s investment needs.

777 has stakes in Genoa, Sevilla and Hertha Berlin, as well as Standard Liège of Belgium, the Paris-based club Red Star FC, Vasco da Gama in Brazil, and Melbourne Victory in Australia. It has also recently been eyeing a stake in Everton.

PIF considers buying another club from Europe’s ‘big 5’

Bloomberg also reported that Newcastle United owner PIF is considering buying another top football club in Europe.

It is believed the sovereign wealth fund has in recent days switched from only considering the addition of smaller teams to its football stable, to potentially buying another team from one of Europe’s ‘big 5’ leagues.

The strategy rethink is understood to have come less than a week after UEFA said it would allow a host of clubs with the same owner to compete across its elite competitions.

UEFA cleared Aston Villa and Vitoria Sport Clube; Brighton & Hove Albion and Royal Union Saint-Gilloise; and AC Milan and Toulouse to play in European club competitions next season.

A source told Bloomberg that PIF has been exploring possible targets – reportedly including Belgium’s KV Oostende – but wanted to wait for clarification of UEFA’s stance on multiclubs before proceeding with any new acquisition.

 

Real Madrid face questions over €122 million of unexplained costs in 2021/22 accounts

Real Madrid have declined to explain why 20 per cent of their costs are unaccounted for in the club’s most recent financial results, The Daily Telegraph reports.

In the Spanish giant’s accounts for 2021/22, which were published last October, around €135 million in payments was directed into a sub-category of “other operating expenses”, of which €122 million is unexplained.

The Telegraph said the club has refused to respond to questions on the issue – including the specific allegation that the expenses are, in whole or in part, repayments on a deal with a US financier for the sale of future marketing income.

The first of these deals, signed with the private equity group Providence in the 2017/18 financial year, provided the club with an injection of cash in return for the sale of future income streams and since then the deal has been extended in terms of length and value.

Booked as revenue rather than debt

The sums earned from the sale of an unspecified percentage of future sponsorship revenue, which the club said was renewed in 2019/20, were booked in Real’s accounts as revenue rather than debt.

The club has never explained in detail how that commitment is paid back to Providence or how much is paid every year.

There is no suggestion that the deal with Providence is illegal, although there are questions over whether it is compliant with UEFA financial controls.

 

EFL charges Barnsley with multiple breaches of regulations

The English Football League (EFL) has charged Barnsley with multiple breaches of its regulations. The charges relate to the period the League One club was under the ownership of Paul Conway and Chien Lee between 2017 and 2022.

The EFL said Barnsley have been charged with:

• failing to provide the League with correct and/or complete information regarding the beneficial ownership of shares in the club despite a request for such information being made by the League;
• failing to provide the League with the necessary notifications regarding the ownership position at the club;
• failing to publish accurate information on the club’s website concerning the ultimate owners of the significant interest in the club;
• allowing individuals to acquire a position of control without prior clearance from the EFL; and
• failing to act towards the League with the utmost good faith.

In addition, Conway and Lee have been charged with causing the club to be in breach of EFL regulations.

Fourteen days to respond

In a statement, Barnsley said the charges "are the result of an investigation initiated by the club" and that they have fully co-operated with the EFL. Conway, Lee and the club have 14 days to respond.

 

English women’s football review calls for urgent investment and minimum wage

A new report has concluded that urgent investment is needed for women’s football in England to realise its potential as a billion-pound industry.

The government-commissioned review Raising the Bar has urged the FA and the new independent body that will run the Women’s Super League and Championship, Newco, to implement minimum standards for wages and facilities and professionalise the second tier.

The review was chaired by Karen Carney, the 144-cap former England international, who has spent several months collecting information from various figures in the women’s game.

Carney admitted she had been upset by the stories of misogyny she had heard, with some players forced to use bin bags as curtains in their changing rooms and having inadequate medical care. She also found that some Championship players are earning as little as £5,000 a year.

The report recommended the eventual equalisation of FA Cup prize money – the prize pot is £17 million more for men than women at present – and that union representation for players in the WSL and Championship should be fully funded by the FA. It also suggested that women’s football should receive its own designated broadcast slot for fixtures.

“Start-up business”

“Women’s football is a start-up business,” Carney said. “If you’re starting something up, you have to have an influx of money.”

She added: “I really do believe that in ten years’ time, this sport could be a billion-pound industry. But these standards and these requirements of the investment are the foundations that will lead us to that point.”

UEFA have confirmed they will allow Aston Villa and Vitoria Sport Clube; Brighton & Hove Albion and Royal Union Saint-Gilloise; and AC Milan and Toulouse to take their places in European club competitions next season.

The First Chamber of the UEFA Club Financial Control Body (CFCB First Chamber) had previously opened proceedings against the clubs due to a breach of Article 5 of its club competitions regulations.

The rules prohibit an individual controlling decisions and having influence at more than one club competing in Europe. Under the rules, two clubs with the same owner cannot be guaranteed permission to compete unless one is in the Champions League and the other in the Europa Conference League.

In a statement, UEFA said: “Following the implementation of significant changes by the clubs and their related investors, the CFCB First Chamber accepted the admission of the aforementioned clubs to the UEFA club competitions for the 2023/24 season.

“The CFCB found that the significant changes implemented brought the clubs into compliance with the multi-club ownership rule.”

Stakes reduced

Aston Villa's holding company, V Sports, has reduced its stake in Vitoria SC from 46 per cent to 29 per cent, while Brighton owner Tony Bloom has reduced his share of Union to 25 per cent and club president Alex Muzio has increased his stake to 75 per cent.

Last month, Gerry Cardinale, founder of AC Milan owner RedBird Capital Partners, resigned from his post as a board member at Toulouse and made changes to their football portfolio’s holding company.

 

Juventus ‘reach agreement with UEFA for one-year ban’ from Europe

Juventus have reached an agreement with UEFA to be banned “only” for one season from European competition, according to a report from Il Corriere dello Sport.

The move is said to have come amid concerns the Turin club may have violated the European governing body’s Financial Fair Play regulations.

It is believed that under the agreement Juventus will not be permitted to play in the 2023/24 Europa Conference League – in which they were due to appear after finishing seventh in Serie A – but will be allowed to compete in the 2024/25 Champions League if they qualify.

No appeal to CAS

In order to avoid further penalties and longer suspensions Juventus are said to have agreed not to appeal the one-year ban imposed by UEFA to the Court of Arbitration for Sport (CAS).

Last week, Italian Football Federation (FIGC) president Gabriele Gravina said the decision of UEFA’s Club Financial Control Body (CFCB), which has been investigating the Juventus case, should arrive in the coming days.

 

Andrea Agnelli handed fresh 16-month ban and €60,000 fine over Juventus player salaries case

Former Juventus president Andrea Agnelli has been banned from Italian football for a further 16 months and fined €60,000 following a second trial by the Italian Football Federation (FIGC).

The suspension was handed down at a hearing on Monday examining allegations related to player salary manoeuvres, relations with agents and partnerships with other clubs.

Agnelli was already serving a two-year ban for alleged financial malpractice following the separate capital gains case heard in January, when Juventus were handed a 15-point penalty, which was eventually reduced to ten points.

No plea bargain

The former president of the Turin club had agreed to stand trial after not entering a plea bargain in May, when Juventus accepted a fine of €718,000 as part of a settlement struck by the club, and other past and present directors, with the FIGC to avoid further sporting penalties.

Agnelli stepped down as Juventus president at the end of 2022 along with the rest of the club’s board of directors.

 

UEFA project €3.5 billion in revenues for 2023/24 from club competitions

UEFA has forecast revenues of €3.5 billion for the 2023/24 season from its club competitions, official documents seen by Calcio e Finanza have shown.

The total income projection is for the Champions League, Europa League, Europa Conference League and Super Cup.

From the overall predicted figure, UEFA will make deductions including €323 million for organisational and administrative costs, 3 per cent (€105 million) for qualifying round payments, 4 per cent (€140 million) for non-participating clubs, and €10 million for the UEFA Women's Champions League distribution programme.

Of the resulting net revenue of €2.92 billion, 6.5 per cent (€190 million) will be reserved for European football and will remain with UEFA, and the remaining 93.5 per cent will be distributed to participating clubs.

€2.032 billion for clubs in Champions League and Super Cup

Based on UEFA’s projection the total amount available for distribution to participating clubs will be €2.732 billion, of which €2.032 billion will be for teams in the Champions League and Super Cup, €465 million for those in the Europa League and €235 million for clubs in the Europa Conference League.

 

FC Barcelona plan to list Barça Media on Nasdaq via SPAC

FC Barcelona are planning to list their digital unit Barça Media on the Nasdaq Stock Market through the creation of a special purpose acquisition company (SPAC), Spanish newspaper Expansión has reported.

Barcelona would keep an 80 per cent stake in Barça Media, while the SPAC would own the remaining 20 per cent. The transaction would value the unit at around €1 billion.

The plan, which involves Swiss private equity fund Mountain Partners, is still said to be in an “initial phase” and the IPO would happen at the end of this year if it goes ahead.

Digital operation

Barça Media runs Barcelona’s entire digital operation, including its online video business and the property rights of the club’s brand on digital supports and e-sports.

The operation also encompasses blockchain assets such as NFTs, part of which was included in the agreements to sell 24.5 per cent of the current Barça Vision to Socios.com for €100 million and another 24.5 per cent to Orpheus for €100 million last year.

Lyon are facing the prospect of a difficult summer transfer window after French football’s financial watchdog, the DNCG, decided to monitor the club’s transfer activity and wage bill for the 2023/24 season, L’Équipe reports.

The development has come after the DNCG last month demanded that Textor find an additional €60 million to inject into Lyon before 30th June. The club’s budget for the new season was deemed to be unbalanced by the DNCG.

The move sparked concerns that Textor’s company Eagle Football, through which he owns the Ligue 1 club, was running low on cash. The American businessman also holds his 40 per cent stake in Crystal Palace, 90 per cent shareholding in Brazilian club Botafogo and 80 per cent stake in Belgian team RWD Molenbeek through the investment vehicle.

Last-gasp attempt

Textor sought to provide strong financial guarantees to the DNCG with a last-gasp attempt to move Eagle Football’s share capital in Palace, Botafogo and RWD Molenbeek into the Lyon holding company, OL Groupe, to boost its asset base by €300 million.

However, it was not enough to convince the DNCG that Lyon are in good financial health. The DNCG will now be able to block transfer incomings this season and monitor the club’s wage bill inflation.

L’Équipe also reported that Lyon are considering lodging an appeal with the French Football Federation over the issue.

 

Ratcliffe stays hopeful on £6 billion bid for Manchester United

Sir Jim Ratcliffe confirms his continued pursuit of Manchester United, despite potential delays. He remains hopeful about his £6 billion proposal and communicates his willingness to wait as the Glazers resolve legal issues related to the sale.

Ratcliffe emphasized his commitment, stating, "We have a good offer. We've met with the Glazers, and while it’s their decision, we very much hope to execute this acquisition."

This ongoing delay has unsettled United fans. Ineos has proposed purchasing up to 69 per cent of the Glazers' shares, allowing them to retain a minority stake, provided Ratcliffe holds the majority. Meanwhile, investors urge the directors to opt for Qatar's 100 per cent club acquisition bid.

Despite uncertainties around the Qatar bid, Ratcliffe remains unwavering in his goal to acquire Manchester United. He has reassured fans that the goal is not profit, but the club's success.

Global visibility

Commenting at the launch of 'Grit, Rigour and Humour - The Ineos Story,' Ratcliffe stated, "These unique entities continue to appreciate over time because of their rarity and special value."

Ratcliffe's aim is also to boost Ineos's global visibility. However, he dismissed the idea of renaming Old Trafford if his bid is successful, labeling it "sacrilege."

Sheffield United post £15.2 million loss for 2021/22

Sheffield United have reported a £15.2 million loss for the 2021/22 financial year, their first season back in the EFL Championship after two years in the Premier League.

The deficit followed profits of £17.5 million in 2019/20 and £9.5 million in 2020/21 when the club were in the top-flight. United will play in the Premier League once again next season after finishing in second place in the Championship.

Much of the loss for 2021/22 can be attributed to relegation and the resulting cut in broadcast revenues. Turnover, including parachute payments, fell to just under £67 million from £115 million, with broadcast income almost halving to £50.74 million.

The club’s wage bill fell from £56.52 million in their most recent Premier League season to £42.05 million, due to the existence of relegation clauses in almost all player and staff contracts.

Re-evaluation of tangible fixed assets

In their accounts, the club noted that the loss of £15.2 million over the accounting period has been offset by gains of £10.02 million on the re-evaluation of tangible fixed assets.

The increase in the value of land and buildings, notably the Bramall Lane stadium and Shirecliffe training facility, resulted in an overall loss of £5.24 million.

 

Leicester City to be fined up to £880,000 over anti-competitive arrangement with JD Sports

Leicester City are to be fined up to £880,000 after the UK’s competition watchdog found the club colluded with retailer JD Sports to restrict competition in the sales of club clothing, including replica kit.

The Competition and Markets Authority (CMA) said Leicester and JD Sports have admitted to anti-competitive behaviour after the CMA provisionally found that the parties broke competition law between 2018 and 2021.

The watchdog said that “market sharing conduct led to JD Sports largely stopping online sales of Leicester City FC products for 2018/19 season,” and that “price fixing conduct meant JD Sports agreed to make Leicester City FC clothing exempt from standard free delivery offer for the 2019/2020 season and part of the 2020/21 season.”

“Limited number of bulk orders”

In a statement, Leicester stressed that no current club directors or senior management were involved in the arrangements, which the club said “related to a limited number of bulk orders by JD Sports, which were accepted by the club’s retail sales team over the relevant period.”

Leicester added: “There was no intention on the part of the club to unlawfully restrict the resale of the goods supplied and no material financial advantage to be gained from doing so, given the limited amount of kit supplied to JD Sports.

“However, the club accepts the CMA’s findings and has taken steps to strengthen its training and compliance measures to ensure the club’s retail operations fully comply with competition law.”

 

FC Barcelona reports record commercial revenues for 2022/23 season

FC Barcelona concluded the 2022/23 season with a record-breaking commercial performance, according to a release from the club.

Overall revenue from venues, tickets, sponsorships, and store sales surpassed previous seasons, with the venues business achieving a record €154.8 million, up 4 per cent from the 2018/19 season - the last season not impacted by Covid-19.

Revenues at Spotify Camp Nou significantly contributed to these numbers, raking in €97.6 million and selling over a million tickets. Women's football and basketball had significant ticket sales growth, generating €2.7 million and €4.5 million, respectively.

20 new contracts

In addition to gate receipts, sponsorships hit a high, signing 20 new contracts worth €97.6 million in total. Partnerships include notable names such as Spotify, Bimbo, Herno, Whitebit, ScotiaBank, and Stanley. Women's football alone generated a substantial €7.8 million from partnerships, a 95 per cent increase from the previous season.

Retail and e-commerce sales also flourished, with a 54 per cent increase in physical store sales and a 47 per cent boost in e-commerce sales compared to the 2021/22 season. The club further expanded its retail presence by adding eight new directly managed and franchised stores.

English FA considers selling overseas rights for FA Cup to Premier League

The English FA is reported to be considering selling its international broadcast rights for the FA Cup to the Premier League in a move that would deliver a radical shake-up of the 152-year-old competition.

According to The Times, senior figures in football believe the deal is poised to go through and there are fears it will result in the FA relinquishing control of the competition.

It is understood that under the terms of the deal all replays would be scrapped, early rounds of the competition would be played midweek, and the final moved from its traditional position on the final weekend of the domestic season.

The Daily Mail reported that while the FA insists the tender process for overseas rights remains ongoing, it is understood CEO Mark Bullingham is minded to accept the Premier League's offer and its terms.

The Mail said several sources have claimed that the FA is attempting to rush the deal through before the introduction of the government-backed independent regulator for English football, which would have powers to block it.

Dramatic decline in value of rights

The FA's surprise willingness to do a deal with the Premier League comes amid a dramatic decline in the value of FA Cup rights to overseas broadcasters.

The current deal which expires at the end of the 2024/25 season, in which agencies IMG and Pitch International sell the rights on behalf of the FA, generates around £150 million a year, but this is now understood to be around £100 million.

Sevilla have transfer listed their entire squad as they attempt to resolve debts of €90 million, according to a report from Marca.

The LaLiga club are facing financial difficulties despite confirming their return to the Champions League after winning a record seventh Europa League title in May.

Jose Luis Mendilibar’s side finished 12th in LaLiga last season after a torrid start to the campaign left them looking to avoid relegation for much of the season.

According to Marca, Sevilla president Pepe Castro informed the club’s management on Friday that the debts total €90 million and that therefore the entire squad of the first team is now declared as transferable.

It is understood that one or two major sales would not be enough, with the departure of a number of players needed to clear the debts, as well as signing new players in time for next season.

Argentine World Cup winners

Moroccan goalkeeper Yassine Bounou, previously linked with a switch to Saudi Arabia, is among a number of players likely to attract strong interest.

Others include Argentine World Cup winners Gonzalo Montiel and Marcos Acuna, former Tottenham Hotspur winger Erik Lamela, ex-Liverpool youngster Suso and former Manchester United wonderkid Adnan Januzaj.

Sevilla recently lost their sporting director Monchi who has left his sporting management role at the club for a second time after it was confirmed he will join Aston Villa.

 

Aston Villa owners reduce stake in Vitoria SC to comply with UEFA competition rules

Aston Villa's holding company, V Sports, has announced that it has reduced its stake in Portuguese club Vitoria Sport Clube.

Back in February, V Sports acquired a 46 per cent share of Vitoria SC, signalling an important step forward in the global expansion of the group’s portfolio.

However, the stake is being reduced to 29 per cent after UEFA examined Villa’s relationship with the Primeira Liga club, with both teams having qualified for the 2023/24 Europa Conference League.

UEFA’s Article 5 regulations prohibit an individual controlling decisions and having influence at more than one club competing in Europe. Brighton and Union Saint-Gilloise, as well as AC Milan and Toulouse have also been examined.

Under the rules, two clubs with the same owner cannot be guaranteed permission to compete unless one is in the Champions League and the other in the Europa Conference League.

No representation on board of directors

In a statement published on Villa’s website, the club’s holding company said: “V Sports has today announced that it has reduced its stake in Vitoria Sport Clube – Futebol, SAD to 29% by transferring shares equaling 17% of the club’s total equity back to Vitoria SC.

“It also no longer has any representation on the board of directors of Vitoria Sport Clube – Futebol, SAD in order to comply with all UEFA regulations and ensure the independence of both Vitoria Sport Clube – Futebol, SAD and Aston Villa FC.”

 

Cardiff City ordered by FIFA to pay final two instalments of €17 million Emiliano Sala fee

Cardiff City have been ordered by FIFA to make the last two payments to Nantes for Emiliano Sala’s €17 million transfer fee.

The Argentine striker died in a plane crash en route to Cardiff in January 2019, and the Welsh club and Nantes have been involved in a bitter dispute over the fee for the player since the tragedy occurred.

Cardiff had already paid €7 million to Nantes as the first instalment of a fee they were ordered to pay for Sala by FIFA’s Players' Status Committee. Last August, the Court of Arbitration for Sport (CAS) rejected Cardiff’s appeal against that decision and confirmed that the transfer had been “finalised” before his death.

It is understood Cardiff intend, albeit reluctantly, to now pay the remaining two instalments. In a statement released on Friday, the club said: “Today, FIFA ordered Cardiff City FC to pay the 2nd and 3rd instalments of the transfer fee for Emiliano Sala to FC Nantes as expected.”

Negligence claim

Cardiff have lodged a negligence claim in the French courts against Nantes. They maintain the French club must be held accountable for the accident which led to Sala’s death, saying the flight was organised by Nantes’ agent.

In their statement, Cardiff noted that Nantes CEO Franck Kita had been placed in police custody alongside agent Bakari Sanogo in relation to an investigation opened in France last June into allegations of illegal exercise of sports agent activity, forgery and use of forgery, misuse of corporate assets and money laundering.

The club said their negligence claim has exhibited direct exchanges which they say show Kita informed Sanogo of the proposed transfer fee for Sala. Cardiff said it is not clear why Kita informed Sanogo of the fee.

The club said: “In the circumstances, the club considers that it would have been fairer if the requirement to pay FC Nantes had been deferred until the conclusion of the French police investigations and the club’s claim against FC Nantes in the French courts.”

 

Manchester City strike new £18 million-a-year sleeve sponsor deal amid £700 million revenue target

Manchester City have signed a three-year shirt sleeve sponsorship deal with cryptocurrency exchange OKX reported to be worth more than £55 million.

According to The Daily Mail, the contract is worth in the region of £18 million a year. City had a £15 million-a-year deal with OKX last season for sponsoring the club's training kit and are set to announce a new partner for that soon.

“Historic British record”

Speaking at the launch of the new sponsorship agreement, City CEO Ferran Soriano claimed that the club will earn revenues of more than £700 million for the 2022/23 financial year.

“The commercial appeal of the club has grown spectacularly,” he said. “We already know that our revenues this last season are going to be over £700 million. … This will be the historic British record, but could also be number one in Europe and the world.”

He added: “We play some of the best football in the world, people want to watch, they fall in love with us and they become fans. That brings commercial opportunities which bring more money that we then invest in better players, better facilities and a better club in general. It is a virtuous cycle.”

The FC Barcelona board has decided to submit a guarantee of €6.7 million to LaLiga. This amount acts as a guarantee for the financial viability plan that was approved on June 6. This will enable the club to register new players for the forthcoming season.

The guarantee to LaLiga arises from the club's failure to meet commitments related to the reduction in sports expenses, particularly in the various sports divisions. This is included in the financial viability plan the club have set in motion to bring down their wage bill to a sustainable €528 million by the 2023/24 season.

As part of this initiative, Barcelona will need to cut down the cost of its sports squads, encompassing all sports divisions, by €120 million compared to the limit set by LaLiga this year.

Resign from board of directors

A few weeks ago, during a media session, the economic vice president, Eduard Romeu, explained that the main focus was to achieve positive results with regular operations, without resorting to financial leveraging.

The club also announced the departure of Jordi Llauradó from his managerial role. He was overseeing Espai Barça since the beginning of Joan Laporta's most recent term as club president, until his resignation in January. This was just two days after Limak Construction was awarded the contract for the Camp Nou redevelopment. Since then, he has held a position within the club's Foundation.

 

Premier League's top legal executive resigns from FA board

Peter McCormick, the Premier League's head of legal affairs, is set to conclude his tenure on the FA board, a year earlier than the maximum nine-year term limit, according to a report in the Times..

McCormick, 71, has been a representative of the board since 2015 as the Premier League's delegate and has served as the interim chairman of both the FA and the Premier League during his tenure.

The Premier League clubs were informed of McCormick's impending departure from the board at their annual meeting this month. It was explained that his departure is part of a planned restructure, given his nearing term limit. However, McCormick will retain his positions on the FA committee.

Dharmash Mistry, a 52-year-old independent director at the Premier League and a technology venture capitalist, is likely to become the new representative of the Premier League at the FA.

Conflict of interest

Last August, the FA rolled out new regulations concerning conflicts of interest following revelations regarding McCormick's law firm handling club takeover checks for the Premier League.

Former sports minister, Tracey Crouch, who led the fan-led review of football, described the situation as an "unacceptable conflict of interest".

McCormick defended his position and his firm's roles at the time, highlighting that they had been conducting these checks for over a decade. He mentioned that it was expressly agreed that he would not participate in the decision-making process regarding any club takeover while serving as the interim chair. Despite this, he stepped down as chairman of the FA’s remunerations committee last year.
 

Serie A's private negotiations for TV rights commence: DAZN, Mediaset and Sky in contention

The Italian Serie A is all set to make a decision regarding the offers for TV rights. According to Italian media private negotiations was held Thursday after the first round of offers fell short of the minimum guarantee, which would have obligated the League to accept.

Involved in the negotiations is DAZN, Sky, and Mediaset (the latter targeting the free-to-air rights for the Saturday evening match). A commission consisting of five managers and presidents, alongside the League's CEO Luigi De Siervo, will negotiate with the broadcasters.

Crucially, these private negotiations could alter the package structures. The Serie A will not be rigidly bound by the broadcasters' bids for specific options.

The primary objective is to accumulate the maximum possible amount, which could see the League mix and match packages differently to hit their desired target, approximately around €900 million.

 

Lyon given deadline of 4th July to submit documentation or face penalty for financial discrepancies

According to a report by RMC Sport, Lyon have until the 4th of July to provide additional documentation to the DNCG - French football's financial regulator.

The club must offer the necessary guarantees to secure the budget for the upcoming season, or face potential consequences that could include relegation to Ligue 2 due to financial irregularities.

US owner John Textor's club had made a hurried effort to assemble a revised budget for the DNCG to navigate the financial checks mandated by the regulator. This is a crucial step to get the 2023/24 season budget approved for the upcoming year.

However, the newly compiled budget was submitted merely 24 hours ahead of the club's hearing with the DNCG. This did not leave the governing body sufficient time to evaluate the new documents, which was not well received.

Eliminate €60 million funding

According to the report, the budget presented by Textor, which had been significantly revised downwards, would eliminate his need to provide the €60 million previously demanded by the DNCG in writing. This revised plan depends on higher-than-expected player sales and the resultant salary savings, a reduced number of player purchases, and miscellaneous savings.

A source close to the situation told L’Équipe, "We want to convince the DNCG about the credibility of our plan."

 

Australia and New Zealand consider joint bid for 2029 Club World Cup

Football Australia (FA) chief James Johnson believes FIFA's expanded Club World Cup is going to be a big success and is considering a joint bid with New Zealand to host the second edition in 2029.

Australia and New Zealand will co-host the Women's World Cup in July and August this year and Johnson has already said that could be a springboard for a joint bid for the men's version, possibly in 2034.

The first edition of the expanded 32-team Club World Cup, the brainchild of FIFA President Gianni Infantino, will take place in the United States in 2025 and Johnson said he was convinced it would take off.

"It's going to grow, over the years," Johnson, who worked under Infantino at FIFA until 2018, told the Sydney Morning Herald.

The last edition of the Club World Cup featuring seven teams will be hosted by Saudi Arabia later this year. The expanded edition will take place every four years.

UEFA has introduced a regulation that will prevent European clubs from spreading a player's transfer fee over a period longer than five years, even if the player's initial contract spans a more extended duration. This move closes a loophole in UEFA's existing regulations.

Chelsea, among other clubs, has frequently utilised this approach by signing players to extended contracts, as seen with their recent eight-and-a-half-year contracts for Enzo Fernandez and Mykhailo Mudryk. The advantage of such arrangements is that the transfer fees get evenly spread over the contract's duration, resulting in lower annual amortisation recorded in the club's books.

The new regulations, which will take effect from July 1, still permit clubs to extend contracts, thus spreading costs. However, for accounting purposes, these extensions cannot exceed five years. Clubs are allowed to sign players to longer contracts if permitted by their national associations, but transfer fee costs must be amortised within the initial five years unless an extension is granted.

UEFA clarified that the rules would not affect existing agreements but would "guarantee equal treatment across all clubs and promote financial stability".

Profit on player sales

In addition, UEFA has taken steps to prevent clubs from colluding to overvalue players for accounting benefits, a response to the recent capital gains scandal involving Italian clubs, which led to the entire Juventus board's resignation last November.

Clubs must now determine whether a transaction qualifies as a straight swap, in which case it must comply with international accounting standards. If a player's fair value is unquantifiable, the profit from a sale cannot be recognised.

 

LFP targets €1bn annual revenue from French football TV rights

According to L’Équipe, the LFP – the organisation governing French professional football – aims to generate €1 billion per year from TV rights revenue for the 2024 to 2028 cycle.

The league's business plan involves €863.7million annually from domestic TV rights and an additional €200 million from international TV rights. This would mark a significant increase from the current annual total of €791.3 million derived from these sources.

Furthermore, the LFP is hoping for more growth from partnerships and digital revenues, forecasting €52.4 million and €35 million respectively. These measures aim to push total annual revenue to €1.151 billion, nearly 50 per cent more than the current package.

However, these ambitious targets come at a time when Ligue 1 is experiencing high-profile player departures, including Lionel Messi and possibly Kylian Mbappé. Such exits could potentially impact the attractiveness of the league internationally.

Complex economy

Despite these challenges, LFP President Vincent Labrune remains optimistic.

He acknowledged the complex economic and financial climate but emphasized that there is still significant room for growth, especially on the international stage. He also mentioned the complexities in France, particularly with Canal + showing reluctance to participate. Labrune confirmed that the LFP is actively working on these issues and engaging with relevant stakeholders.

 

Bayern Munich confirm they are not renewing Qatar Airways sponsorship deal

Bayern Munich have decided not to renew its controversial sponsorship agreement with Qatar Airways. The state-owned airline, which has been linked with the German football giant since 2018, will see its contract, valued at around £21 million annually, conclude on June 30.

Bayern fans have often expressed their opposition to the club's affiliation with Qatar's national carrier, primarily due to concerns over human rights abuses in the Gulf state. The club's announcement is expected to be met with approval from these supporters.

Rumours suggest that Qatar Airways had been reluctant to prolong their sponsorship of Bayern under the same financial terms after the World Cup in December. Germany's reputation in Qatar suffered due to the protest by the national team during the tournament. The players covered their mouths to signify that they were silenced by FIFA after the global body threatened seven nations with sporting sanctions if they sported rainbow armbands.

Slogans opposing Qatar

Even before the World Cup began in July 2022, Bayern's board members met with Qatari officials to discuss human rights matters. Bayern supporters have consistently shown banners and slogans opposing Qatar and sports washing at home games in the Allianz Arena.

Jan-Christian Dreesen, Chairman of the Board of FC Bayern München, expressed his gratitude towards Akbar Al Baker, CEO of Qatar Airways, for their partnership. Akbar Al Baker also praised their fruitful relationship with FC Bayern Munich, wishing the team success in their future endeavours.

 

LaLiga eases financial regulations to stimulate transfer market

LaLiga is opting for a more flexible approach towards the financial controls of clubs that exceed their budget, aiming to invigorate the summer transfer market, according to Spanish media.

In detail, LaLiga will permit clubs to reinvest up to 50 per cent of the savings they secure through player transfers and contract renegotiations into their squad, an increase from the previous 40 per cent. In instances where a player contributing to these savings represents over 5 per cent of the overall squad expense, the reinvestment limit can be raised to 60 per cent.

Insiders at LaLiga assert that this newfound flexibility is designed to "stimulate transfers", at a juncture when the Spanish transfer market has shown signs of stagnation, with clubs prioritising savings and sustainability.

This transitory measure for the current market is expected to "positively impact many clubs in an excess situation, enabling them to continue operating in the market while saving."

Not first time

The adjustment to transfer reinvestment percentages is the second time LaLiga has relaxed its rules, following last summer's concessions to offset Covid-related losses.

LaLiga then provided clubs with some relief, allowing the financial impact linked to Covid to be spread over five years. This measure also took into account the drop in transfer activity due to the pandemic.

 

Stuttgart enter partnership and stadium naming rigths deal with Porsche group

IT consultancy firm MHP, a subsidiary of Porsche, is set to take on naming rights to VfB Stuttgart’s home stadium for the next ten years as part of a wide-ranging agreement that could see the German automotive brand acquire a stake in the Bundesliga club.

Although Mercedes-Benz will maintain its role as Stuttgart's principal sponsor, it will relinquish the naming rights to the club's stadium, as confirmed by Stuttgart.

Stuttgart president Claus Vogt commented on the planned collaboration with Porsche, MHP, and Mercedes-Benz, "This partnership promises to fortify the club and the corporation behind it in the long term. It is akin to having the Champions League of investors gathered under one roof."

Escaped relegation

The club suggests this partnership could potentially generate over €100 million.

Last season, Stuttgart narrowly escaped relegation, owing their survival to a playoff victory over second-tier club Hamburger SV.