Manchester City have surpassed Real Madrid to be named the world’s most valuable football club brand by Brand Finance for the first time.

City’s brand value rose by 13 per cent to €1.51 billion compared with the previous year, while Real Madrid’s dropped 4 per cent to €1.46 billion, pushing the Spanish club into second place in Brand Finance’s list of the 50 most valuable football club brands for 2023.

However, the report said Real remained the strongest brand in world football and were most likely to be considered “the best club in the world” by fans.

As they chase a historic triple trophy haul this season, City's on-field success and the continued expansion of the Etihad Stadium have boosted their commercial appeal, Brand Finance said.

According to its analysis, the club’s brand value has now grown by 34 per cent since the Covid-19 pandemic, with City also boasting the highest revenue in this year’s table.

Manchester United leapfrog Liverpool

FC Barcelona came third in the ranking, with a 4 per cent increase in brand value to €1.4 billion, while Manchester United – up 9 per cent to €1.4 billion – leapt ahead of rivals Liverpool – up 7 per cent to €1.4 billion – into fourth place.

Paris Saint-Germain and Bayern Munich occupied sixth and seventh spots, with three Premier League clubs – Arsenal, Tottenham Hotspur and Chelsea – completing the top 10.

 

Juventus reveal plan to pull out of European Super League

After multiple reports, Juventus released a statement Tuesday evening confirming they are leaving the European Super League project, with only Real Madrid and FC Barcelona remaining.

The story first emerged in Spain, as the two Spanish giants both received letters from new Juventus CEO Maurizio Scanavino informing them that Juventus were backing out of the project.

Some media claimed it was because UEFA were threatening to exclude Juventus from their tournaments for the next five years. However, that part was denied by Juventus in a statement.

"Juventus Football Club S.p.A. (“Juventus” or the “Company”) informs that it has transmitted a communication to the two remaining clubs that, as Juventus, have not exercised their withdrawal from the Super League Project (Football Club Barcelona and Real Madrid Club de Futbol) in order to initiate a discussion period among the three clubs concerning the potential Juventus’ exit from the Super League Project," the statement read and continued:

"The Company will proceed with any communications due under the law following the outcome of the interlocutions and evaluations regarding the above, clarifying that many of the reconstructed version published by the media about the contents of the communication (including any reference to alleged threats of potential sanctions by UEFA) are not true."
 

Leeds United takeover: 49ers Enterprises could complete deal by weekend

The takeover of Leeds United by 49ers Enterprises is close to completion and the new owners could be in place within a week, according to The Daily Telegraph.

The Leeds owner Andrea Radrizzani has been in ongoing talks with the American group – who already own a 44 per cent stake of the Yorkshire club – to end the Italian’s six-year reign.

It is understood a breakthrough was made at the start of the week and the takeover could be confirmed before the weekend if the final part of the deal goes smoothly.

49ers Enterprises president Paraag Marathe has been on the board at Leeds since 2018 and a takeover deal was put in place which was dependent on them staying in the Premier League.

Lower price after relegation

The club was valued at more than £400 million with top-flight status under that deal, but since their home defeat to Tottenham Hotspur consigned them to the drop last month negotiations are said to have taken place on a lower price.

Radrizzani – who completed a takeover of Italian club Sampdoria last week – was not in the stands when Leeds’s relegation was confirmed. He then apologised to Leeds fans for the season, without committing on who would control the club in the future.

FC Porto extend three-year bond issue to €55 million

FC Porto have extended their recent bond issue to €55 million, up from the €40 million announced last month, following market interest.

The Portuguese club, who are listed on the Euronext stock market, issued 8 million bonds on 16th May with a nominal value of €5 each and a fixed gross interest rate of 6.25 per cent per year under a three-year payment term.

For the extension announced on Tuesday this week, the value and interest rate remain the same, along with the payment terms.

In a statement, the club said for last month’s issue demand of €75.49 million outstripped supply by 37 per cent, yielding €55 million, with 3,758 investors making subscription and exchange offers.

Return to profitability

The bond issue will serve to refinance a previous loan and comes after Porto returned to profitability following the Covid-19 pandemic, although it continues to be reliant on player trading to balance the books.

For the 2021/22 financial year the club achieved a profit of €20.8 million after earning €83.7 million from player sales, which offset a slight fall of 6 per cent in turnover to €143.8 million.

For the first six months of 2022/23, Porto made a loss of €9.8 million despite turnover rising to €102.6 million, which was up 13 per cent compared with the first half of 2021/22.

The figures did not include gains from player sales. Around half of the total revenues came from UEFA prize money of €51.4 million after the club qualified for the Champions League round of 16.

Newcastle United owners Saudi Arabia’s Public Investment Fund (PIF) are to take control of the four largest teams in the Saudi Pro League, the country’s ministry of sport has announced.

The clubs to be taken over by PIF are the SPL’s founding members: Al Ahli, Al Ittihad, Al Hilal and Al Nassr. PIF will control 75 per cent of the four SPL teams, with the other 25 per cent controlled by a non-profit organisation.

Four other Pro League clubs will also have their ownership structure changed with investment from other companies. Aramco will take a stake in Al Qadsia, Diriyah Gate Development Authority in Al Diriyah Club, Royal Commission for Al-Ula Governorate in Al Ula Club, and Neom in Al Suqoor FC.

The Saudi Arabia government announced the plans on Monday as part of the country’s ‘Vision 2030’ project, which also involves attempting to host the 2030 men’s World Cup.

Commercial revenues

The government said it will offer a number of state-owned sports clubs up for privatisation as part of the plans, which have a major focus on football and aim to raise the Saudi Pro League’s commercial revenues from 450 million riyals (€112 million) in 2022 to over 1.8 billion riyals (€448 million) annually.

The project also plans to generate “private-sector investment opportunities” and increase the market value of the league from 3 billion (€747 million) to more than 8 billion riyals (€2 billion) by 2030.

“The Saudi Pro League, which boasts players from over 40 different countries and has seen attendances increase by nearly 150% in the last year, will be supported in its ambition to be amongst the top ten leagues in the world,” the announcement read.

MSP Sports Capital targets 25 per cent stake in Everton and seats on board

American investment firm MSP Sports Capital is aiming to purchase a stake of at least 25 per cent in Everton and is “on track” to take two positions on the club’s board, according to a report from The Athletic.

The revelations follow recent speculation about a potential takeover of the Merseyside club, with MSP and rival American firm 777 Partners both in the running. MSP is understood to have been in exclusive talks with majority owner Farhad Moshiri for the past two weeks.

The discussions are said to be about investment into Everton Stadium Development Company, the business Moshiri set up in 2017 to oversee the construction of the club’s new stadium at Bramley-Moore Dock due to open in 2024/25.

It is believed the proposed deal would see a limited partnership led by New York-based MSP effectively give Moshiri £100 million to £150 million in loans that can be converted to equity in the club. There is still at least £360 million needed to finish the stadium, as the project’s initial budget of £500 million has grown to £760 million.

“Highly qualified Everton supporters”

It is understood that MSP would also be entitled to two seats on the club’s board under the deal.

The firm’s co-founders, former sports agent Jeff Moorad and Iranian-American businessman Jahm Najafi, are the proposed general partners of the group investing in Everton and one, if not both, would normally be expected to take a seat on the board.

However, there are also reported to be “at least two highly qualified Everton supporters among the group” –Andy Bell, the founder of online stockbroker AJ Bell, and property developer George Downing – and either or both of them could join the board.

FC Barcelona summer spending plans approved by LaLiga with Messi set to return

FC Barcelona's spending plans for the summer transfer window have been approved by LaLiga, paving the way for Lionel Messi to return to the club, Spanish outlet Relevo has reported.

Last month it emerged that the Catalan giants had been told by LaLiga they must generate additional revenue or make extra savings amounting to €250 million before the end of June if they wanted to press ahead with their transfer plans.

It is understood the Spanish league has now given the green light to the club’s efforts to ensure they can buy new players in line with LaLiga’s financial controls.

Player sales will still be needed to facilitate the arrival of Messi and any other new signings, with Barça able to spend 40 per cent of what they save through departing players, plus 20 per cent of what they make from transfers.

Jorge Messi-Joan Laporta meeting

Speculation about Messi’s return has intensified after a video emerged of the player's father and agent Jorge Messi meeting Barça president Joan Laporta at his house on Monday.

Following the meeting, Jorge Messi confirmed his son's desire to come back to Barcelona. The Argentine World Cup winner is expected to earn €25 million a season on a two-year contract.

Birmingham City, Charlton Athletic, Wigan Athletic set to have new owners

EFL Championship club Birmingham City, and League One sides Charlton Athletic and Wigan Athletic are set to have new owners after a series of announcements were made by the clubs on Monday.

Birmingham takeover approved by EFL

Birmingham revealed that the EFL has approved American financier Tom Wagner's proposed takeover of the club.

In a club statement, Birmingham said the EFL has “approved the acquisition of 45% in the Club by Shelby Companies Limited and is now awaiting approval in accordance with the rules of Hong Kong Stock Exchange.”

The club added: “This exciting announcement comes after the exchange of two signed Sale and Purchase Agreements (SPA) on Sunday, 7 May.”

Wagner was in attendance at Birmingham’s final game of the 2022/23 Championship season against Sheffield United last month.

Charlton agree deal with SE7 Partners

Charlton confirmed that a deal has been agreed for SE7 Partners – whose directors include former Sunderland executive director Charlie Methven – to purchase the club.

SE7 Partners has signed a share-purchase agreement with the club's current owner Thomas Sandgaard, which is subject to approval by the EFL.

Methven's firm will be the fourth owners of Charlton in as many years, with the club being sold twice in 2020, either side of their relegation from the Championship.

Wigan reach agreement with unnamed buyer

Wigan announced that a deal has been agreed in principle for the sale of the club “to a prospective new buyer”, subject to EFL approval.

“The prospective new owners have committed to resolving all outstanding liabilities at the earliest opportunity,” the club added.

According to The Athletic, the club’s new owner could be Sarbjot Johal, a 21-year-old entrepreneur who invested in Morecambe earlier this year and was set to become the new owner of the club subject to EFL approval. However, Morecambe were relegated to League Two last month and the situation remains unresolved.

Wigan, who were relegated from the Championship last month, are in a financial mess and have still not paid the players or coaching staff for the month of May. Other bills are also stacking up and the club is now said to require significant investment just to get through to July.

There are numerous leadership tools executives can turn to in the search for commercial growth, but perhaps the best thing they can do is avoid writing big cheques to sporting directors in pursuit of improved sporting results to drive the number and size of sponsorship deals.

In this analysis - based on data from Off The Pitch's Data Analytics Tools – there is a clear pattern that the masters of commercial growth in European football since 2017 are not dependent on vastly improved sporting results.

However, there is also a clear trend that the best performers – both from the big five leagues but also beyond – are characterised by pretty stable sporting results as a fundamental factor driving the impressive growth they have all seen from the 2017/2018 to the 2021/2022 seasons.

Clubs who have not filed their 2021/2022 financial statements are not part of this analysis.

So maybe slightly surprisingly, Watford top the list from the big five leagues. The Hornets, who finished this season as a disappointing number 11 in the Championship after being relegated last season, did play in the Premier League three seasons in a row, between 2017/2018 and 2019/2020.

Then they won promotion back to the Premier League in the summer of 2021, and in the following season they saw a huge rise in commercial revenue.

After commercial revenues of €19.6 million in 2020, the last time they played in the Premier League, in 2021/2022 Watford’s management team secured commercial revenue of no less that €42.6 million.

Going back to the starting year in this analysis, the 2017/2018 season, the club - owned by the Italian Pozzo family - only had commercial revenues of €12 million. That meant that in the period analysed they saw massive growth of 255.3 per cent. In that period, sporting results were actually a bit unstable – with the club finishing 14th, 11th and 19th in the Premier League. The following year they won promotion back to the first tier of English football, but then in the 2021/2022 season The Hornets faced another relegation.

Actually, Watford stand out in this analysis with their somewhat volatile sporting performances, while the other clubs in the top 10 ranking played in the same division in all five years, and most of them also saw league finishes being fairly stable in the period.

In fourth and fifth places are Nice and Leicester City, with growth rates of 104.1 and 98.6 per cent respectively, quite impressive in just five years, but along the journey their sporting performances have been fairly stable.

OGC Nice finished 8th, 7th, 6th, 9th and 5th in the period, while Leicester City did climb the table a bit after twice finishing as number nine, after which The Foxes secured a 5th place in 2020/2021 season, and then had to settle for number eight in the league in the following season. In other words – a positive trend for both teams, but no wonder-seasons for either.

You could say the same for some of the bigger teams in the table – Marseille, Tottenham and Liverpool, who secured top-seven finishes in all seasons, with Marseille and Liverpool even enjoying a few seasons as champions (Liverpool) and runners-up.

Beside sporting stability, what are the key findings about the masters of growth in commercial revenues among clubs in the big five leagues?

It should be noted that there are US owners among three of the 10 clubs on the list, with Fiorentina, owned by Rocco Commisso, being placed in second position. Olympique Marseille and Liverpool FC are also under US ownership.

It is also clear that some of the teams on the list have enjoyed European qualification in the period which could boost commercial turnover.

Some clubs on this top-10 list went from playing in the Europa League to playing in the Champions League, while others went from being outside the European places to securing their share of the UEFA prize money – but also improved deals with their commercial partners due to even better visibility options for brands, while also being able to facilitate sponsors with “European nights” both home and away.

Looking at the elite outside the big five leagues, when it comes to growth in commercial revenue, what shines out again is that most teams on the list possess stability in terms of sporting results – with Danish side AGF Aarhus being the club to stand out in that regard.

They have seen league placements in the period as number 10, nine, three, four and 10 again last season. However, stability is very much in place at Aarhus with CEO, chairman of the board and big shareholders having remained the same for quite a few years, and this season the team finished the season in 3rd place in the Danish Superliga under the guidance of German coach Uwe Rössler.

The rest of the teams in the top ten are extremely stable in their sporting performances. It is probably no big surprise that this is a solid driver for commercial growth because corporate institutions know what product and what level they are buying into.

Like AGF, Paris FC, the leader of the pack outside the top five leagues, is also a bit unstable, yet they have played in the same league, Ligue 2, for all five years.

If you ignore the 2020 season, the league finishes look pretty much the same, with the club still pushing for promotion under the ownership of President Pierre Ferracci, who has expanded the ownership group in the last couple of years with co-owners coming in from Armenia and Bahrain - new shareholders who also brought sponsorship deals with them.

The list is primarily dominated by Scandinavian and Portuguese teams. It should also be noted that the growth rates are generally lower than those seen among the best performers in the big five leagues.

Finally, it is worth remarking that further down the list – outside the top ten – no less than 44 per cent of the clubs have either seen commercial revenues grow less than 10 per cent or even decline in the period. This could be a sign that several clubs have not managed to get back to normal after Covid-19 put significant pressure on commercial deals.

Finnish entrepreneur Thomas Zilliacus is considering a bid to buy Inter Milan as the club attracts interest from international investors, according to a report from Reuters.

Inter’s run to the Champions League final – in which they take on Manchester City on 10th June – is said to have increased the levels of interest in the club from potential suitors. Zilliacus was present at the San Siro for Inter’s Champions League semi-final second leg win over AC Milan.

Goldman Sachs and the Raine Group are said to have been in negotiations with various parties interested in investing in Inter, with former Nokia executive Zilliacus among the possible bidders.

The Finnish businessman emerged this year as a potential buyer for Manchester United but dropped out of the running after criticising the Glazer family and Raine Group for hosting what he believed had been a poor bidding process.

Zilliacus had been looking to buy United through his holding company, XXI Century Capital, before he pulled out in April. It is understood that Zilliacus needed an equity partner to help finance a deal as he could not afford it alone.

XXI Century announced last month it was in talks with several large institutional investors and family offices from the US, Asia and the Middle East to raise money for investment opportunities in European football.

Deadline for final round of bids

According to Reuters, advisers will likely set a deadline for a final round of bids for Inter in the next four weeks, with one source indicating a deal could be completed later in the summer.

However, Inter’s current owners Suning have denied that a deal is in the works. "There is no bidding process," a media representative from the Chinese retail group said.

 

DFL to step up search for new CEO as preferred candidates ruled out

The search for a new CEO of the German Football League (DFL) is set to intensify this week with talks among the league’s hierarchy due to take place to discuss potential options.

As reported by Kicker, the DFL supervisory board led by chairman Hans-Joachim Watzke will meet on Wednesday following a succession of setbacks in the league’s pursuit of a new person to run the organisation.

The attempt to find a suitable candidate has become a top priority following the DFL extraordinary general meeting held on 24th May, at which German clubs rejected plans to sell a 12.5 per cent stake in the Bundesliga’s media rights business to a private equity firm.

Eintracht Frankfurt CEO Axel Hellmann and SC Freiburg CFO Oliver Leki have been operating as joint managing directors of the DFL since the dismissal of Donata Hopfen as the league’s CEO last December. However, their term in dual charge is due to end as planned on 30th June.

Club commitments

Hellmann and Leki have at times both been considered potential permanent appointments for the CEO post but club commitments have effectively ruled them out.

Bayern Munich vice-chairman Jan-Christian Dreesen was also deemed a favourable option but Bayern announced late last month that he is to take up the role of CEO at the club following the dismissal of Oliver Kahn.

Last month it was also reported that Bernd Reichart, the CEO of A22 Sports Management, the company behind the proposed European Super League, had rejected an offer to head up the DFL.

 

Leeds fans’ group calls for Radrizzani to sell club and Elland Road after Sampdoria bank loan revelation

A Leeds United fans’ group has accused chairman Andrea Radrizzani of “appalling” behaviour and called for him to immediately sell the club and Elland Road, The Independent reports.

The demand from the Leeds United Supporters Club (LUSC) follows last week’s report from The Athletic that majority shareholder Radrizzani had offered to use the Elland Road stadium as collateral when securing a €30 million bank loan to buy Sampdoria.

Radrizzani’s company Aser Ventures, in partnership with finance firm Gestio Capital, concluded a takeover of the financially troubled Italian club on Tuesday night.

The Athletic said it was not known whether Elland Road was included in the final deal, or if Aser Ventures and Gestio Capital were able to secure the loan via a different method.

LUSC chairman Lord Mann said in a statement: “Andrea Radrizzani is no longer an appropriate person to own Leeds United. His behaviour is appalling and he risks never being welcome at our club again.”

American co-owners

It had been expected that Radrizzani’s buy-out at Sampdoria would expedite the sale of his 56 per cent stake in Leeds to American co-owners 49ers Enterprises.

However, in a personal statement posted on Twitter on Wednesday night, Radrizzani made no mention of a possible change of ownership at Leeds when apologising to fans for their relegation from the Premier League.

 

Negreira case: Court charges former referee’s son as dates of investigation are expanded

The Spanish court investigating FC Barcelona’s payments to the former referee Jose Maria Enriquez Negreira has now also charged his son, Javier Enríquez, and has added money laundering to the list of charges.

Javier Enríquez was already involved in the investigation but was initially not going to be charged as it was proposed by the Spanish public judiciary that he be summoned as a witness and not as an accused party.

The central allegation is that his father, Jose Maria Enriquez Negreira, who was vice-president of the Spanish FA’s refereeing committee from 1993 to 2018, received more than €7 million in payments from the Catalan giants via his company Dansil 95 between 2001 and 2018 to influence match results. Both Barcelona and Enriquez Negreira have denied any wrongdoing.

As reported by El Confidencial, the additional charge against Enriquez Negreira’s son – who helped run Dansil 95 alongside his father – has come after the judge ruling on the case extended the dates of the payments and other activity under investigation from 2001 to the present.

Payments to Javier Enríquez

Back in March it was reported that Barça paid €750,000 to Negreira’s son via two companies – Nilsad and Soccercam – between 2004 and 2010. Until 2008, Javier Enriquez formed part of the Spanish team’s coaching staff. However, the payments from Barcelona are said to have continued after he departed the Spain setup.

It was also reported that Enriquez Negreira and his son had been accompanying referees to games at the Camp Nou, with Javier Enríquez said to be continuing this practice after his father stepped down in 2018 – right up until this February.

It was not clear whether Javier Enríquez was also involved with other clubs. The Spanish refereeing committee has since banned referees from having a professional relationship with him. Javier Enríquez, along with his father, has denied ever favouring Barcelona in terms of refereeing decisions.

Leeds United’s chairman, Andrea Radrizzani, offered to use the club’s Elland Road stadium as collateral for a £26 million bank loan as he sought to buy Sampdoria.

As revealed by The Athletic, the €30 million loan, which would be borrowed from Italian bank Banca Sistema, was intended to support a takeover bid for the Italian club Sampdoria by Radrizzani’s company, Aser, and its bidding partner, Gestio Capital.

Under a heads of terms agreement, Elland Road would serve as security for the loan to help fund the Sampdoria buy-out. The proposed bridging loan, which would need to be repaid within two years, included an interest rate of between six and nine percent per year.

The agreement also allowed for the loan to be extended for up to ten years, potentially tying Leeds United’s home, Elland Road, to Radrizzani’s Italian venture. The current status of the loan and its progress beyond the heads of terms agreement remain unclear.

Although Elland Road is not owned by Leeds United, Radrizzani purchased it in 2017. The stadium was initially sold into private ownership in 2004 but was later bought back by Radrizzani.

The ownership of Elland Road has since passed to Elland Road Limited, established in 2020, with Radrizzani serving as a director alongside Leeds United’s CEO, Angus Kinnear, and other key figures.

Shareholder not informed

49ers Enterprises – the parent company of the San Francisco 49ers and a major shareholder in Leeds – is currently in talks to take control of Leeds following the club’s relegation from the Premier League.

The Athletic reported that sources close to the takeover process said that 49ers Enterprises was not informed about the proposal to use the stadium as collateral.

Radrizzani told that publication: “You can do what you want but you are just trying to put Leeds United fans against myself. It is not nice.”

He was not present at Leeds’ final match as they were relegated from the Premier League to the Championship, focused instead on finalizing the Sampdoria deal.

Separately, Calcio Finanza has reported that a debt restructuring programme at Sampdoria has been approved, giving Radrizzani the green light to complete that deal.

 

Reports: UEFA inspectors have concluded that FC Barcelona must be sanctioned with a Champions League ban

UEFA-appointed inspectors have reportedly concluded that FC Barcelona should face a ban from the Champions League in the upcoming season due to their involvement in the ‘Caso Negreira’ referee payments scandal, as per Spanish broadcaster ABC.

The Barcelona provincial prosecutor’s office had previously charged the club with “continued corruption between individuals in the sports field” after it was revealed that payments were made by the Blaugrana to Jose Maria Enrique Negreira, former vice president of Spain’s Technical Committee of Referees.

Barcelona allegedly paid Negreira’s company a sum of approximately €7 million between 2001 and 2018. This time period coincided with the presidency of Joan Laporta from 2003 to 2010.

However, Laporta – who has since returned to the Barca presidency – has consistently denied any wrongdoing and claims that the payments were for legitimate consultation work. Negreira also denies wrongdoing.

UEFA initiated its own investigation into the matter following charges brought against Barcelona by the Spanish prosecutors’ office. Mundo Deportivo previously reported that a decision from UEFA was imminent, with a temporary ban from the Champions League being one of the potential outcomes.

Influencing match outcomes

ABC now reports that the two investigators, Jean Samuel Leuba and Mirjam Koller Trunz, appointed by UEFA’s Ethics and Disciplinary Committee to examine the case, have concluded that Barcelona should be prohibited from participating in European competitions for one year.

According to the report the investigators believe that Barcelona has violated UEFA’s established legal framework and that there is evidence of activity aimed at influencing match outcomes.

Missing out on the Champions League next season would have dire consequences for financially troubled Barcelona. The tournament generates substantial revenue through television deals, prize money, and ticket sales.

Barcelona already stands to lose approximately €93 million due to the temporary closure of their home stadium, Camp Nou, for renovations, forcing them to play the 2023/2024 season at the Montjuic Stadium.

 

Premier League bolsters anti-piracy efforts with tech experts and digital forensics specialists

The Premier League is intensifying its fight against piracy by assembling teams of technology experts and digital forensics specialists. The Daily Mail reports that following the successful prosecution and imprisonment of five individuals involved in illegal streaming, league officials are determined to track down more fraudsters in the UK and beyond.

To combat this issue, the Premier League has established an anti-piracy enforcement squad, generously funded to identify and apprehend those profiting from the sale of devices like “firesticks.” These devices enable users to watch matches without subscribing to official broadcasting partners such as Sky and BT Sport.

On match days, the enforcement team scours the internet for illicit streams. Working in collaboration with external agencies, they trace the digital footprints of those responsible.

The ultimate objective, likened to a “fast-moving game of cat and mouse,” is to compile an intelligence package that is then passed on to law enforcement agencies for appropriate action.

While experts estimate that approximately four million sporting events were illegally streamed in the UK last year, the Premier League’s efforts have contributed to a steady decline in match piracy. Currently, consumption of illicit streams is at an all-time low due to the league’s extensive and technologically advanced clampdown.

Extended focus

This season, around 600,000 illegal streams were blocked, nearly double the number from the previous campaign in 2019/20. The Premier League’s focus extends beyond the UK, as it also targets the Asia Pacific region. It maintains an office in Singapore, opened in 2019, from which anti-piracy operatives work.

These intensified efforts coincide with the recent sentencing of the leaders of a major criminal operation, where five individuals were imprisoned for generating millions of pounds through one of the UK’s largest illegal streaming services. Their operation involved selling TV sticks to over 50,000 customers.

 

Union of European Clubs reveals first interim Executive Board members

The Union of European Clubs (UEC), an organisation dedicated to providing a platform for football clubs of all sizes on a one member one vote basis, has announced the inaugural members of its interim Executive Board.

The newly appointed board will play a crucial role in guiding the organization through its next phase of development until the first General Assembly, scheduled to take place before the end of the year.

Great interest

“We are delighted to announce the establishment of the Interim Executive Board as a significant and tangible milestone in the progress and advancement of the UEC. Since our launch event in Brussels, we have witnessed a remarkable level of interest from clubs eager to join the Union of European Clubs,” stated Dennis Gudasic, UEC Founder and Executive Director of Zagreb’s Lokomotiva FC.

The initial members of the UEC Interim Executive Board include representatives from Osasuna (Spain), Lokomotiva Zagreb (Croatia), RFS (Latvia), Bohemian FC (Republic of Ireland) Union Saint-Gilloise (Belgium) and Maccabi Netanya (Israel).

UEFA is exploring a radical plan to introduce a cap on the total amount that clubs can spend on player wages and transfers in a single season, according to a report from The Times.

The plan, which is being assessed by a new working party for European football, comes amid fears that English clubs could become even more financially dominant under UEFA’s new Financial Sustainability Regulations (FSR).

If approved, the cap would run alongside the new regulations, under which clubs in European competition are only allowed to spend 90 per cent of revenues on wages and transfers in 2023, dropping to 80 per cent next year and 70 per cent in 2025.

Some leading continental clubs have pointed out that the FSR could perpetuate the financial dominance of English clubs, who make up six of the top ten richest teams, and 16 of the top 30. The Premier League has also become the biggest force in the international transfer market.

Cash limit to be set

According to The Times, the solution being favoured by UEFA’s leaders is for a fixed cap every season to run alongside FSR, setting a cash limit on the amount that clubs can spend on wages, transfers and agents’ fees.

The transfer cost would be assessed on amortisation and while no absolute level for a cap has been discussed, if approved it would mean that a club could not spend more than the cash limit, even if it was within the 70 per cent of total revenue.

A senior source told The Times that UEFA believe the plan is “the solution” to the issue and was “working on it” to ensure it could get EU approval, but that may mean having to get the agreement of all of European football’s stakeholders.

Although the European Club Association (ECA) headed by the Paris Saint-Germain president, Nasser al-Khelaifi, is understood to be in broad agreement, the European Leagues and players’ union FIFPRO are said to have concerns.

 

Leeds owner Andrea Radrizzani completes Sampdoria takeover

The consortium led by Leeds United owner Andrea Radrizzani has completed its takeover of Sampdoria, the club have confirmed.

In a brief statement, Sampdoria said the new owners agreed to provide the necessary capital injection of €40 million to secure the Genoa-based club’s future.

Sampdoria were required to cover debts, including €13.5 million in outstanding player wages, by Tuesday to be able to register for the 2023/24 Serie B season.

Both parties confirmed the deal had been agreed late on Tuesday night. The group taking over the club comprises Radrizzani’s Aser Ventures and the London-based wealth management advisory firm Gestio Capital, led by Matteo Manfredi.

In a statement released on social media, Radrizzani said: “We are nothing short of thrilled to be able to announce that we have completed the acquisition of this extraordinary club.

“The history and coat of arms of Sampdoria are safe and I think my happiness is for of all the people who were suffering for these colours.”

Leeds sale still expected

According to media reports, Radrizzani, who bought Leeds for £45 million in 2017, is still expected to sell his 56 per cent stake in the club to American co-owner 49ers Enterprises.

A completion of the takeover is anticipated despite the Yorkshire outfit being relegated to the EFL Championship following Sunday’s defeat to Tottenham Hotspur.

 

Everton owner Farhad Moshiri’s finances being reviewed by UK sanctions office

The UK Treasury’s sanctions police have been reviewing the finances of Everton owner Farhad Moshiri, according to a report from The Guardian.

Moshiri appears to have become a person of interest to the Office of Financial Sanctions Implementation (OFSI) because of his links to the club’s former investor Alisher Usmanov.

The Russian-Uzbek billionaire was sanctioned by the UK, EU and US after last year’s invasion of Ukraine, and has also been barred from entering the UK since September 2021 after his presence was “not deemed conducive to the public good”.

Usmanov influence

The apparent interest in Moshiri coincides with months of reporting by The Guardian, which has raised questions about the influence Usmanov has exerted over Moshiri and Everton, including how the Russian tycoon came to attend job interviews with a series of prospective Everton managers before March 2022.

It also follows a Guardian report that revealed how the club’s auditor, BDO, stepped away from signing off the club’s accounts last year – a decision sources said was related to the ownership of the Merseyside club.

The Guardian understands that BDO’s concerns led to OFSI being notified about Moshiri, who has hired an expert sanctions lawyer at Peters & Peters – one of the UK’s largest law firms – according to correspondence sent to The Guardian on Moshiri’s behalf.

 

FC Barcelona issue €2 billion bond to finance Camp Nou revamp

FC Barcelona have issued bonds totalling almost €2 billion to finance the revamp of the Camp Nou stadium, according to data published on the Vienna stock exchange.

The club have agreed to pay 6-7.22 per cent interest depending on maturities, more than initially expected.

The Catalan giants confirmed in April they had agreed a €1.45 billion deal with Goldman Sachs and JP Morgan to finance the revamp of the stadium and Espai Barça sports and entertainment space. It is believed that the bond is aimed at refinancing this debt.

Barcelona have agreed to pay back bond investors in progressive tranches – after five, seven, nine, 20, and 24 years – with a flexible structure, including a grace period, with the final repayment coming six years earlier than under the terms initially approved by the club’s members in 2021.

The bonds registered and issued on Wednesday by the Espai Barça fund handling the stadium project will mature in 2028, 2030, 2032, 2043 and 2047.

Banking sector turmoil

Barça’s financial director has estimated the net interest rate would average about 5.5 per cent but warned that external events such as February's earthquake in Turkey and the banking sector turmoil could make the issuance more expensive.

 

Inter Milan reveal €30 million in missed payments from shirt sponsor DigitalBits for 2022/23 deal

Inter Milan’s front-of-shirt sponsor DigitalBits is still yet to pay the club any of the fees due under the sponsorship deal agreed for the 2022/23 season, the club’s latest accounts show.

Inter removed the DigitalBits logo from the front of their shirts at the end of April after a series of missed payments from the blockchain network, and the amount owed by the firm for the current season now totals almost €30 million, according to the club.

The figure is revealed in the financial statement covering the nine months ended 31st March, 2023 from Inter Media and Communication, which manages and operates the club’s media, broadcast and sponsorship business.

The accounts state that Digitalbits has not paid any of the three €8 million installments due in June 2022, October 2022 and February 2023 to cover the €24 million basic fee – or the performance bonuses triggered to date so far of €5.75 million, €3.5 million of which has been due since 31st March.

Inter also revealed they are still owed €1.6 million of bonuses for the team’s second place in Serie A and winning the Coppa Italia, which were due from the sleeve sponsor deal with Digitalbits for 2021/22.

Inter had previously stated that the firm had paid in full the €5 million basic fee due for the 2021/22 agreement, in addition to a €100,000 bonus for reaching the knockout rounds of the Champions League.

Digital ecosystem

In their latest accounts, Inter also noted that Digitalbits “has not yet presented the project, contractually envisaged, regarding the integration of the Group digital ecosystem, which has just been revamped by our club.”

The club added: “We understand that the crisis in the crypto-currency sector, which worsened during the second quarter of the year 2022, significantly affected the ability of the client to fulfill its obligations.

“We are reserving all the actions and remedies to protect our contractual interests and rights.”

 

UAE firm Mubadala Capital tables new €740 million offer for Brazilian football competition

UAE investment firm Mubadala Capital has put forward a new proposal for investment in a proposed Brazilian football competition, according to the country’s O Globo newspaper.

Last November, the Abu Dhabi-based fund offered Rs4.75 billion (€880 million) for a 20 per cent share of the commercial rights, based on plans for the competition to comprise 34 clubs.

Mubadala is now said to be willing to inject Rs4 billion (€740 million) for the same share if the number of clubs is between 18 and 33. The overall value of the proposal remains at R$ 4.75 billion if there are 34 teams.

The competition has been proposed by the Brazilian Football League (Libra), one of two groups pushing new structures for the game in the country.

Highest commercial value

Under its new offer, Mubadala has also requested that seven of the 10 clubs with the highest commercial value in the country – Flamengo, Corinthians, Palmeiras, Sao Paulo, Cruzeiro, Grêmio, Santos, Vasco da Gama, Botafogo and Bahia – join its project.

The move comes amid notable differences between the 34 clubs over the proposed competition, including its commercial aspects.

Juventus will avoid any further points deductions this season after reaching a settlement with the Italian Football Federation (FIGC) over the case examining alleged irregularities in the club’s salary payments to players.

The Italian giants have agreed to pay a fine of €718,000 and will also not appeal against the 10-point deduction handed down last week over the separate case which found the club guilty of false accounting in relation to capital gains.

In the salary payments case, Juventus were accused of agreeing a series of secret player payments during the early stages of the Covid-19 pandemic. The club have consistently denied wrongdoing and said their accounting was in line with industry standards.

In a statement issued on Tuesday, Juventus said: “The settlement of all open FIGC sports proceedings allows the company to achieve a definite result, settling the matter and overcoming the state of tension and instability that would inevitably descend from the continuation of disputes whose outcomes and timing would remain uncertain.”

The club added that the agreement also allows the management, the coach and the club’s players “to focus on sports activities and in particular on the overall planning of the next season.”

Seventh in Serie A table

With one match left to play, the settlement leaves Juventus seventh in the Serie A table on 59 points. The Turn club could still qualify for next season's Europa League or Europa Conference League if results go their way in the final round of matches this weekend.

However, it is understood that Juve may have to forfeit their place in European football next season as sanctions could be imposed following a separate probe by UEFA.

Shares rise by 10 per cent

Shares in Juventus jumped the most in over two years on Tuesday following the news of the settlement with the FIGC, as reported by Bloomberg. The club’s stock rose as much as 9.9 per cent, the steepest intraday advance since April 2021, and traded up 4.4 per cent.

Serie A to drop private equity investment plans and sell own media rights

Serie A is set to abandon efforts to secure outside investment in its media rights business as it looks to focus on developing and selling its own rights over the coming years.

In comments reported by Bloomberg, the league’s CEO Luigi De Siervo said it has decided not to sell media rights directly to private equity buyers, but instead has the option of developing a product in-house, including live matches, highlights, and social media coverage, and then giving investors a chance to invest in this new product.

“The perception is growing that Italian football can return to the top of the world as in the good old days of the ‘80s and ‘90s,” the Serie A chief said in an interview in Rome. “The idea is to bring talent in-house.”

He added that Serie A is now targeting an increase in its media rights income to at least €1.55 billion per year, from less than €1.25 billion this year.

Serie A hasn’t closed the door on foreign investment, though. An auction for domestic media rights was announced earlier this week, with the goal of bringing in a minimum of €1.2 billion per year.

If traditional broadcasters and media rights agencies won’t be able to satisfy the league’s conditions, Serie A plans to offer funds the possibility to invest for ten years in the league’s media channel.

International rights

Serie A is also building a team to market international rights, with the goal of increasing annual revenue to €400 million from today’s €250 million.

In addition, the league has invested in a state-of-the-art radio and TV production centre. In September, it will start its own radio service, from match running commentaries to talk shows featuring analysis by former champions and team managers.

“This is just the stepping stone to arrive in 12 months’ time to launch our own TV,” said De Siervo.

Inter Milan receive fresh €41 million cash injection from Suning

Inter Milan owner Suning injected a further €41 million into the club between March and April, taking its total investments so far in 2023 up to €51 million, Italian media have reported.

It had previously been disclosed that the Chinese retail group had provided a €10 million injection in February.

According to La Gazzetta dello Sport, the new funding will almost certainly have come from the €275 million loan from American investment fund Oaktree agreed back in May 2021. The financing was secured to inject operating liquidity into the club amid post-pandemic financial issues.

Inter have continued to face financial pressures, leading to persistent speculation about Suning looking to sell the club.

May 2024 deadline

With the interest rates, Suning must pay a total of €350 million to Oaktree by May 2024, and if they fail to do so then control of the club would pass to the American fund, as the club was put up as collateral as part of the deal. Inter also launched a €415 million bond last January.

Edwin van der Sar resigns as Ajax CEO after disappointing season

Ajax have announced that Edwin van der Sar has resigned from his role as the club’s CEO.

The former goalkeeper has held the post since 2016 after joining the Dutch giant’s board in 2012.

Van der Sar’s departure comes after a disappointing season on the pitch for Ajax, who finished in third place in the Dutch top-flight to qualify for the Europa League play-offs, missing out on the Champions League for the first time since 2009.

Ajax had not finished out of the Eredivisie's top two for 14 years and were champions for the previous two seasons, but finished the 2022/23 campaign 12 points behind champions Feyenoord.

They also failed to reach the knockout stages of the Champions League and were beaten in the Europa League knockout round play-off by German side Union Berlin.

“Incredibly tough period”

"We have experienced wonderful things together, but it has also been an incredibly tough period," said van der Sar.

"I feel the need to take some distance, to get some rest, and to do other things. It doesn't feel good to take decisions about the future of this wonderful club in the coming period. That is why I have decided to resign."

Bernd Reichart, the CEO of A22 Sports Management, the company behind the proposed European Super League, has rejected an offer to become the next chief executive of the German Football League (DFL).

"I work on the sustainability of European football at an international level. I am not available for the task at the DFL," Reichart told DPA.

The industry publication Horizont had previously reported that the German media executive was set to become the new DFL chief, with the appointment said to have been agreed by the league’s supervisory board, led by chairman Hans-Joachim Watzke.

The search for a new CEO is understood to be intensifying following the DFL extraordinary general meeting held last Wednesday, at which German clubs rejected plans to sell a 12.5 per cent stake in the Bundesliga’s media rights business to a private equity firm.

Joint managing directors

Axel Hellmann and Oliver Leki have been operating as joint managing directors of the DFL since the dismissal of Donata Hopfen as CEO last December. However, their term in dual charge is due to end as planned on 30th June.

Speaking after last week’s extraordinary general meeting, supervisory board chairman Watzke said: "It is clear to us that we will present a new CEO in July.”

 

Bayern Munich dismiss Kahn and Salihamidzic after clinching Bundesliga title

Bayern Munich have announced that the club is parting company with chief executive Oliver Kahn and board member for sport Hasan Salihamidzic after clinching their 11th successive Bundesliga title.

The club confirmed the dismissal of the pair on Saturday evening, just hours after Bayern snatched the title away from Borussia Dortmund with a dramatic late win over FC Köln.

Bayern stated that vice-chairman Jan-Christian Dreesen will take over from Kahn, with Salihamidzic's replacement yet to be appointed.

“Decision anything but easy”

Kahn joined the Bayern board in January 2020 and took over as CEO in July 2021.

FC Bayern chairman Herbert Hainer said: "The decision to part ways with Oliver Kahn was anything but easy for the Supervisory Board. Nevertheless, due to the overall development, we have come to the decision to appoint a new person to the top of the Board of Management."

Salihamidzic took on the role of sporting director in August 2017 and was promoted to the post of board member for sport in July 2020.

 

Sampdoria takeover: Ferrero “surprised” over club statement about agreement with Radrizzani

Confusion about a potential takeover of Sampdoria has emerged after owner Massimo Ferrero expressed his “surprise” about an announcement made by the club indicating the first draft of a deal had been agreed with Leeds United owner Andrea Radrizzani.

The Genoa-based club released a statement on Saturday evening in which it said a “preliminary agreement” had been signed “for the finalisation of a capital increase in the club by Gestio Capital and Aser Ventures.”

However, the suggestion that a deal to sell the club was close to being achieved was swiftly denied by Ferrero, with a statement from his lawyer, Pieremilio Sammarco, released later on Saturday night suggesting that no type of agreement had yet been reached.

“We read with surprise the press release issued now by Sampdoria,” the statement read. “We point out that neither the owners nor the trustee have received a proposal to purchase the shares … as no one has really made offers to them.

“If and when purchase proposals are made, the trustee and the estate will evaluate them for their sustainability.”

Meeting in Milan

It is understood that a meeting between Radrizzani, the Gestio Capital CEO Matteo Manfredi and Ferrero was set to take place in Milan on Sunday to try and reach an agreement ahead of a club shareholders' meeting on Monday.

Sampdoria must meet a 30th May deadline to cover debts, including €13.5 million in outstanding player wages, to be able to register for the 2023/24 Serie B season.

 

Real Madrid to be allowed into court for Negreira case trial

A Barcelona judge has decided that representatives from Real Madrid will be allowed to attend the trial of the Negreira case, according to a report from Marca.

Madrid had announced their intention to attend the hearing back in March, but last week FC Barcelona had requested that the rival club did not appear.

The trial is taking place after the Spanish public prosecutor's office filed corruption charges against Barça, as well as former club presidents Sandro Rosell and Josep Maria Bartomeu, over the case back in March.

The allegations are that the former referee Jose Maria Enriquez Negreira received more than €7 million in payments from the Catalan giants between 2001 and 2018 to influence match results. Both Barcelona and Negreira have denied any wrongdoing.

Barça are believed to have stressed that neither Real Madrid nor any other LaLiga club can point to a particular game with evidence of tampering, and thus cannot present themselves in the case as a damaged private entity.

Private prosecution

However, Barcelona court number 1 judge Silvia López Mejía has now decided to permit Madrid to attend the proceedings as a private prosecution.

In a letter seen by Marca, the judge writes that she has made the decision to allow the club into the trial “in terms of its status as a participant in the sports competition and the owner of the protected legal good.”

The judge also wrote that any club that has participated in LaLiga "has a direct interest in not producing acts of any kind that involve sports manipulation."

The decision of the court will not be final, so an appeal may be filed once a ruling has been made. Spain’s High Council for Sports (CSD) is not allowed to appear at the trial.

 

Genoa post €61.7 million loss for 2022 and reveal fresh injection from owner 777

Genoa have reported a loss of €61.7 million for the 2022 financial year, and revealed that the deficit has already been covered by the club’s owner 777 Partners with a fresh cash injection of €62.4 million.

The club were relegated from Serie A last season but have earned an immediate return to the Italian top-flight after securing a second placed finish in Serie B this season.

The accounts for the 12-month period up to 31st December 2022 were approved at Genoa’s shareholders' meeting held last week. It was disclosed at the meeting that 777 has now put €105 million into the club since November 2021 following the completion of its takeover two months before that.

“Goal is a sustainable club”

Answering questions from small shareholders at the meeting, the Genoa CEO Andres Blazquez stressed that 777 is working "to make a sustainable football club. It will take years, not many, three or four seasons, but the goal is that of a sustainable club".

On the plans to revamp the Luigi Ferraris stadium, which is shared with Sampdoria, he said that 777 and Genoa “must take into account the needs of both the municipality and the other participants in the stadium.”

He added: “For us the willingness to make a negotiation is there and we continue and we hope to reach a solution in a short time.”

Her arrival at a Mayfair hotel in a flowing emerald green dress surrounded by her own film crew spoke of a certain grandness, if not of someone increasingly accustomed to a possible status as the new first lady of English football then certainly some at its top table.

There was a sense of theatre as the small procession worked its way through the lobby to the conference hall, a realisation that this was a new player within the sport.

And when Amanda Staveley spoke at March’s FT Business of Football Summit she didn’t disappoint the journalists assembled at the back of the room.

The financier and Newcastle co-owner - who was the central figure in bringing in Saudi Arabia’s Public Investment Fund (PIF) as the club’s new majority owner in October 2021 – revealed, in a throwaway remark, that she had looked buy Liverpool but that it didn’t represent value for money.

She played down PIF as ““effectively a pension fund that looks after people’s money for future generations”, before offering her sympathies to Roman Abramovich who had had to sell Chelsea because of his association with Vladimir Putin.

“I’m sad someone is going to have a football club taken away because of a link they may have with someone,” she said, gathering up a litany of headlines.

Last Monday Staveley took centre-stage again, coming onto the pitch after Newcastle had secured Champions League qualification following a goalless draw with Leicester, tearfully embracing manager Eddie Howe.

Nineteen months after leading a takeover that was dogged by accusations of sportswashing, political manipulation and concerns over state-owned entities utilising their power in football Newcastle have been elevated from relegation contenders into the elite of European football.

But if there was a sense to the outside world that the appearance of a director stealing the limelight spoke of a certain brashness and chutzpah at St James’s Park, it runs counter to what has actually gone on in the North East.

Indeed rather than oil money being the sole source of the club’s revival, Newcastle’s renaissance has become case study in stellar executive recruitment, good value signings and infrastructure investment.

What about the money?

The author and journalist Michael Walker, whose 2015 book, Up There: The North-East, Football, Boom & Bust, explores the social fabric of football in the region says that there are “parallel views” that need to be considered when assessing what has happened at St James’s Park.

He says that you can’t ignore the £250 million that has been spent in the past three transfer windows, but it is equally irrefutable that Eddie Howe has not just used that money well but turned underperforming players he inherited around.

“It’s very hard to see a bad signing,” he says of the eleven players brought in since the club came under new ownership.

He highlights the modest £12.5 million acquisition of England right back Kieran Tripper as the club’s best signing and draws a contrast between Newcastle’s business and with Manchester City in the early stages of its state ownership. Its new owners famously signed the Brazilian superstar, Robinho, within 72 hours of taking over in 2008 – a statement of intent and what was to follow.

The numbers bear this out

City, who were taken over before financial fair play rules were introduced, spent around 160 per cent of their income in their first season (2008/09) under Abu Dhabi ownership in transfer fees alone.

In the season prior to the Abu Dhabi takeover City were owned by the Thai Prime Minister Thaskin Shinawatra and had spent heavily then as well. But if we take City’s last season under its previous ownership of John Wardle – i.e. someone without connections to running a nation state – there was a 2320 per cent increase in transfer spending between his last season of 2006/07 and the first after Abu Dhabi came in.

Similarly Paris Saint Germain saw an increase of transfer spending of 1090 per cent in its first season of Qatari ownership.

Newcastle’s has increased heavily under its new owners, but at a 374 per cent increase it is not even in the same stratosphere.

Executive recruitment

Those who follow north east football closely emphasise how the style of Newcastle’s ownership is in direct contrast to the brashness that has defined the Abu Dhabi and Qatari ownerships elsewhere.

The executives that the new owners have brought in to overhaul the club as being key to the revival. Howe, after a slow start, has proved an excellent managerial appoint, but he has been facilitated by the new director of football, Dan Ashworth, and new club CEO Darren Eales.

Ashworth came from Brighton and Hove Albion via a spell with the FA; his legacies at both organisations are clear for all to see. Brighton are poster boys for the use of applied data and advanced scouting and recruitment methods and have just qualified for Europe for the first time.

He also oversaw the England elite player development programme from 2012-19. After failing miserably at three successive tournaments in the first half of the last decade, the men’s national teams are among the best in the world across all age groups, while the women’s senior team go into the upcoming World Cup among the favourites.

Newcastle’s entire scouting infrastructure has been overhauled under Ashworth’s leaders, with a new six person position-specific scouting team that was unveiled last week being the latest of these developments.

Substantial changes have also been made to Newcastle’s academy system in an effort to challenge the historic talent drain from the region. Many of England’s most talented footballers have hailed from the north east without being recruited by Newcastle, a legacy that includes the Charlton brothers, Paul Gascoigne and Alan Shearer.

The American Eales had a more circuitous route to the top of English football. A former professional indoor footballer and an Ivy league Player of the Year, in his mid-twenties he returned to education, reading law at Cambridge in the mid-1990s.

He worked as a barrister in London, before returning to football as West Brom’s in house counsel in 2006. He was Tottenham’s secretary for a four year spell, before his appointment as president of Atlanta United in the MLS in 2014. He joined Newcastle last year and is described by Walker as “bright, energetic; highly impressive.”

Environmental changes

In Up There Walker details how previous owner Mike Ashley ran Newcastle as a bare bones operation, cutting costs, skimping on any sort of investment, while simultaneously using St James’s Park as a giant billboard for his sports shop empire (he counted 137 of them).

The author describes “lots of environmental changes” within the club that have since dragged it into the twenty-first century.

Its Darsley Park training ground was emblematic of Ashley’s underinvestment so that it fell “significantly below the Premier League and perhaps even Championship standards,” according to a planning document submitted by the new owners.

With the absence of spending on modern recovery facilities, like cryotherapy chambers, one cohort of players were infamously seen in a paddling pool packed with ice – a make do and mend situation that was considered emblematic of the old regime.

That is all in the process of changing, with plans for extensive training ground upgrades one of the first acts of the new owners, which were submitted in April last year.

“Modern professional football demands the provision of bespoke dedicated training facilities to enable teams to compete successfully at the highest levels nationally and internationally,” their document submission stated then.  

Extensive ambitions

The off pitch ambitions go far beyond this. Staveley identified some of these at the FT summit, which included multi club ownership and signing players “early in their cycle.”

“Obviously we are look at everything in terms of how we grow Newcastle, how we grow our brand, how we grow our club,” she said.

“The opportunity to buy players affordably well early in their cycle is critical to our growth. We’re very focussed on academy and young players at the moment. We’re bringing some exciting guys in. Obviously we’ve looked at multi club, but whenever you look at it you’ve got to have the right fit.”

Other sources in the north east have suggested that Newcastle may look beyond St James’s Park in terms of a long term home for the club. It has been suggested a new site is being sought within a 3 mile radius of the current 52,000 capacity stadium.

Short term goals

But what does the immediate future hold for Newcastle? Champions League qualification will bring a minimum of £30 million UEFA prize money for making the group stage alone.

Newcastle won’t earn as much as other clubs on account of their low co-efficient, but as the football consultant and club advisor Federico Mari says “the increase in revenue is also indirect”

“Playing in the UCL, especially starting in the round of 16, draws attention to your club (more fans), your brand (more sponsors), and your players (better player-trading).  Sponsors get excited.  Fans from other continents get used to your colours,” he says. 

“Thus, UCL opens up possibilities that would otherwise be difficult to touch on, both from a sporting and a commercial point of view.”

He describes Newcastle’s qualification as “a once-in-a-lifetime opportunity to make a five-year leap in club strategy.” This is in terms of both income and visibility. He urges Newcastle to steal the moment.

“I would try in every way, through a commercial strategy and massive use of social media, to steal [non-qualifiers] Chelsea and Liverpool's attention,” he says. “We live in the age of the attention economy.  And attention is very volatile.”

New deals

Already some of these deals are materialising.   This week it was reported that Newcastle are close to a £25 million shirt sponsorship deal with Sela, a sports marketing company.

But when it emerged that Sela are also owned by Newcastle’s owners PIF there was a strong element of eye-rolling. Inevitably there were questions as to whether the bumper deal is linked to Newcastle’s rise or the existing ownership base. 

Nevertheless the value doesn’t seem out of place with the value other Champions League qualifying clubs get. Liverpool’s is worth £50 million, Man City’s £67.5 million, Tottenham £40 million; Chelsea got £20 million for their sleeve sponsor alone this season.

These questions are unlikely to ever go away.  In March a US Court document described the Newcastle chairman, Yasir al-Rumayyan, as “a sitting minister of the Saudi government”. Human rights groups and other EPL clubs reacted angrily to the revelations after previous guarantees that the takeover wasn’t linked to the Saudi state.

There is a sense that as good an investment Newcastle has so far been and as wise as its short term strategic choices have proved that the taps of Saudi wealth are still to be fully opened and that PIF’s acquisition of the club is part of a broader strategy to soften views of the Saudi regime.

“The simple fact is that Saudi sportswashing is affecting numerous sports, and governing bodies need to respond to it far more effectively,” said Peter Frankental, an Amnesty International executive.

Walker, however, says that the influx of cash is a simplistic explanation for Newcastle’s renaissance.

“If the Brentford or Brighton owners had achieved this people would be lining up in praise.”

QSI, the company that owns Paris Saint-Germain (PSG), is aiming to broaden its football investment portfolio with active bids to acquire additional clubs, reports senior correspondent James Corbett.

The Qatari group is currently engaged in a competitive bid process as part of a consortium seeking to buy Sampdoria.

Off The Pitch understands that QSI are seeking a minority stake in a consortium, which is led by Leeds United owner Andrea Radrizzani.

Several other parties are interested in the club, which has been put up for sale by current owner Massimo Ferrero.

The Genoa club has faced continued financial problems and this week received a 40 per cent advance on its parachute payments so that it could meet its payroll obligations.

Multiple interests

As first reported by this publication last year QSI is seeking to “turbocharge” its portfolio with a string of acquisitions through the next 18 months. It has already bought a stake in Portuguese club Braga, and has been linked with others.

The group are actively looking at Malaga, which was described by a source familiar with the negotiations as “a distressed asset with huge growth potential.”

However, reports that QSI are also interested in a deal to buy Santos, the Brazilian club made famous by Pele and for which Neymar jr started his career, have been described as “massively exaggerated”.

Sampdoria, the 1991 Serie A champions, were relegated from the top flight earlier this month.

 

AC Milan reports profit in half-year financial statements

AC Milan have announced a profit of €9.8 million in their half-year financial statements for the 2022/23 season, marking a significant improvement compared to the loss of €12.2 million as of 31st December 2021. The details were revealed in documents reviewed by Calcio e Finanza.

The figures reflect only the statutory financial statements and not the consolidated financial statements, which also encompass the costs and revenues of subsidiaries Milan Entertainment and Casa Milan.

After the recent merger approval, these subsidiaries will merge into the company AC Milan Spa. The difference in total income between the consolidated and statutory financial statements is approximately €30 million euros in favor of the consolidated figures.

Profitable future

During the six months leading up to 31st December 2022, AC Milan’s statutory turnover reached €144 million, an increase from €129 million as of 31st December 2021. Meanwhile, costs amounted to €148 million, slightly lower than the €151 million euros.

Milan are expected to generate further positive results in the second half of the current season, with the pursuit of a Champions League spot as well as their run to this year’s Champions League semi-finals likely to contribute to a profitable consolidated financial statement by 30th June.

 

Wolves seek financial backing to maintain Premier League competitiveness

Fosun Sports Group, the parent company of Wolverhampton Wanderers, is actively seeking new financial support to ensure the club’s continued competitiveness in the Premier League.

According to Mail Sport, Fosun Sports Group (FSG) has been reaching out to potential financial partners in recent weeks, echoing their approach two years ago when they sold a minority stake to US investment management firm PEAK6 in October 2021.

The group is searching for investment in the broader Fosun Sports Group portfolio rather than solely in Wolves. However, any new partnership would undoubtedly have an impact on the Molineux club.

New transfer structure

In recent days, manager Julen Lopetegui expressed doubts about his long-term future, indicating his lack of awareness regarding the financial constraints that will limit Wolves’ transfer activities this summer.

Selling a stake in FSG would not immediately alter Wolves’ short term transfer policy. Their immediate priority is to ensure compliance with Financial Fair Play regulations, which implies that key players like Ruben Neves are likely to be sold this summer, with only a few major signings expected.

A separate report in the same newspaper said that Lopetegui would need to adapt to a revamped transfer structure if he wishes to continue at the helm, as the club sets its sights on unearthing hidden gems with high resale value.

Lopetegui is scheduled to engage in discussions with chairman Jeff Shi over his future.

The Spaniard is eager for continued investment in the team, and his future with the club could be in jeopardy if he is dissatisfied with the outcome of the talks.

Young and talented recruitments

According to the report Wolves are planning to target players within the €9-17 million price range. However, before making any purchases, the club needs to generate funds through player sales, with skipper Neves, who has an expected transfer value of €40 million according to Off The Pitch Player Valuation Tool, considered one of the most valuable assets.

“It is new for me to face financial problems,” the Spaniard said. “I was unaware of them before. I am not anticipating signings from Real Madrid or Barcelona. I am not demanding extravagant acquisitions. My focus is on recruiting talented players, young prospects, and potentially players from the Championship.”

 

Ajax board to retire amidst dispute over remuneration

The board of Ajax, which holds 73 per cent ownership of the Dutch giants, has announced their forthcoming retirement, scheduled no later than 1st September.

In a press release issued by the club, Chairman Frank Eijken conveyed his sentiments of “no support” for the board’s policies during a General Members’ Meeting at the De Toekomst youth complex.

To ensure a smooth transition, Eijken, alongside fellow directors Wendy Nagel, Sander Mallie and Marc Stuut, expressed their intention to relinquish their positions sooner.

The discord stems from Eijken’s recent proposal to provide financial compensation to members of the supervisory board. Typically, these supervisory directors undertake their roles on a voluntary basis.

However, as the nature of their work has become increasingly time-consuming, Eijken believes that “the honour” is no longer sufficient, justifying the implementation of annual salaries ranging from €35,000 to €50,000.

Nevertheless, a majority of Ajax’s eight hundred members vehemently oppose this notion, considering remuneration for the supervisory board members — Pier Eringa, Jan van Halst, Cees van Oevelen, Georgette Schlick, and Annette Morsman — to be unwarranted.

Culture under threat

The dissenting members refuse to deviate from the long-standing tradition of voluntarism within Ajax. They also contend that the Ajax “culture” is now under threat, as only Marc Stuut among the incumbent board members has a history with the club as a former player, albeit without making a breakthrough to the senior team.

 

Shakhtar Donetsk faces potential €80 million losses due to FIFA’s contract suspension

Shakhtar Donetsk has expressed concerns over FIFA’s decision to extend the suspension of player and coaching contracts with Ukrainian clubs, stating that it could result in losses of €80 million.

Sergei Palkin, the CEO of Shakhtar, revealed that this additional loss comes on top of the €40 million already incurred last year.

Shakhtar had been working alongside the European Club Association (ECA) as an intermediary with FIFA, attempting to negotiate a more favorable outcome. However, Palkin lamented that FIFA rejected several proposals put forth by Shakhtar via the ECA to modify the regulations.

The dispute between Shakhtar and FIFA centers around the introduction of Annex 7 in 2022, which led to the automatic suspension of contracts following Russia’s illegal invasion of Ukraine.

Palkin emphasised that as a result, many international players departed the club on free transfers, leading to a significant loss of player transfer income and a depletion of essential club revenues.

Upcoming appeal

Despite the challenges posed by the Russian invasion, Shakhtar remains determined to minimise further financial losses. They view FIFA’s ruling as putting “clubs like FC Shakhtar in Ukraine in a seriously disadvantaged position with zero protection and threatens our very existence.”

Shakhtar has already filed a complaint with the European Commission and is preparing to appeal to the Swiss Federal Court.

The club hopes for a favorable resolution through ongoing consultations between the ECA and FIFA, aiming for a financial solution that compensates for the losses suffered by FC Shakhtar and other Ukrainian clubs. They seek an outcome that is fair and assists in recovering at least a portion of the €80 million that is at stake.