Former Arsenal vice-chairman David Dein has said that the Premier League should reconsider an 18 team division – which was one of the founding principles of a league Dein was one of the architects of three decades ago, but subsequently overlooked.

“That was a mistake — the FA should have been stronger at the start to enforce that,” Dein told the Sport Unlocked podcast. “Now you see France are going down to 18, Germany are 18, and I think we have to look at that again. I’m a great believer that that’s the way forward to give us a little bit of extra time in the calendar.”

Dein also told the podcast that he didn’t agree with new Chelsea owner Todd Bohely’s suggestion of an All Star game, saying that he believed all games should be “meaningful.”

Should have bid for the World Cup

The former executive retains positions as an ambassador for the FA and Premier League and was previously a leading member of England’s failed bid to host the 2018 World Cup.

He told the podcast that he regretted the UK and Ireland opting against a bid for the 2030 edition, instead pitching to bid for Euro 2028 instead – which he expects the five nations to win hosting rights for.

“I guess the FA saw Euro 2028 as low-hanging fruit and the easier option,” he said.

“Nevertheless the Euros is not the World Cup and I think we would have had a good chance.”

Goldman target minority investor for Inter

Inter Milan executives met with Goldman Sachs last week to update a “teaser” document for potential investors ahead of a sale for a minority stake in the club that its Chinese owners, Suning, want to complete by May 2024, report Gazzetta dello Sport.

The minority shareholder is being sought to ease Suning’s exposure to Inter and to repay the $275 million loan it received from the Oaktree investment fund last year.

A version of the document has been in circulation since 2020, report Gazzetta, but it is being updated to reflect changes to the market for football clubs – particularly in view of the enormous sums paid and committed by Chelsea’s new owners over the summer – and Inter’s own position.

Inter to remove Digitalbits

In particular, the club is actively seeking a new front of shirt sponsors following the breakdown of its front of shirt sponsorship agreement with the crypto company, Digitalbits.

The company has allegedly defaulted on its payment obligations, causing Inter to at times black out its branding. The team played Sunday’s game against Udinese wearing the sponsor’s logo, but all references to it amongst its official partners have been removed from Inter’s official site.

A report in the print edition of La Gazzetta said that it will permanently remove Digitalbits as its front of shirt sponsor from January onwards.

FFF hits out at messenger amidst audit over “toxic environment” claims

Noël Le Graët, the octogenarian president of the French FA (FFF) and FIFA council member has responded to detailed allegations of sexual misconduct against him, by saying that he will sue French magazine, So Foot, which first carried the story.

The So Foot report described a “toxic environment” in the FFF, with cases of sexual and moral harassment, alcoholism and cronyism. It also published several inappropriate text messages that Le Graët had allegedly sent to employees of the FFF.

France's sports minister, Amelie Oudea-Castera, has ordered an investigation into the FFF following a meeting with Le Graët on Friday. The investigation – known as an “audit and control mission” – will be carried out by the state inspection body in charge of sports.

“Absolute respect for all employees”

In a statement, Oudea-Castera said that it is “imperative that the FFF continues its activities with absolute respect for all employees, regardless of their hierarchical position.”

She also called on the FFF to “actively ensure prevention and fight against all forms of discrimination and violence, including sexist and sexual violence.”

Ex-German FA treasurer charged in tax evasion case

Former German Football Federation (DFB) treasurer Stephan Osnabrügge has been charged by Frankfurt prosecutors following an investigation into tax evasion connected to DFB stadium advertising income.

A prosecution spokeswoman on Sunday confirmed the matter to the German state media agency DPA after theSüddeutsche Zeitung paper had first reported on it.

Already paid €4.7 million

Prosecutors allege that the DFB did not properly declare taxes on the advertising income it received at national team games in 2014 and 2015. This led to a police raid on DFB headquarters in October 2020.

The DFB had already paid the outstanding sum of €4.7 million.

Osnabrügge, 51, was DFB treasurer from April 2016 to March 2022. He has protested his innocence.

American private equity firm Silver Lake has increased its stake in City Football Group (CFG) and is now the second-largest shareholder in Manchester City’s parent company behind its Abu Dhabi owners.

The Financial Times reports that the Silicon Valley-based company has acquired a 4.1 per cent share in the group from China Media Capital, taking its total holding to 14.5 per cent.

Silver Lake bought its original 10 per cent stake in CFG for $500 million in 2019, valuing the business at $4.8 billion.

China Media Capital still owns 8.2 per cent of the organisation, having originally paid $485 million to amass a 13 per cent stake. That investment, which valued CFG at $3 billion, came after China’s president Xi Jinping visited Manchester City’s football academy in 2015.

Deep ties with Abu Dhabi

Silver Lake bought into CFG after Hollywood impresario Ari Emanuel – founder of Endeavor, the New York-listed owner of Ultimate Fighting Championship, the mixed martial arts series – introduced managing partner Egon Durban to CFG’s Khaldoon al-Mubarak.

The private equity firm has formed deep ties with Abu Dhabi. Mubarak is chief executive of Mubadala, an Abu Dhabi sovereign investment fund that took a stake in Silver Lake in 2020.

The following year, Silver Lake paid about $800 million for a stake in G42, an artificial intelligence and cloud computing group with links to Abu Dhabi’s ruling family.

Group led by American Bill Foley in exclusive AFC Bournemouth takeover talks

A group led by American businessman Bill Foley, the majority owner of the National Hockey League team Vegas Golden Knights, is in exclusive talks to buy AFC Bournemouth, according to The Athletic.

The south coast club’s Russia-born owner Maxim Demin has been trying to sell the club, off and on, for almost four years but is understood to have redoubled those efforts since Bournemouth won promotion back to the Premier League in May.

Montminy & Co, a boutique investment bank based in Santa Monica, was appointed earlier this year to market the club with a view to attracting offers from American investors.

£150 million asking price

It is understood that several groups have looked at Bournemouth in recent months but none has progressed as far as Foley’s.

Demin’s asking price is said to be around £150 million, a similar amount to how much he has lent the club in interest-free loans since buying into them in 2011.

Foley is the chairman of Fidelity National Financial, one of the largest insurance companies in the US, but is best known for bringing the first major professional sports franchise to Las Vegas with the Golden Knights.

The Bundesliga to launch sale of media rights business in October: Eight PE funds interested

Some of sport’s most prominent private equity investors have reportedly registered interest in buying into the Bundesliga's new media rights business.

Reuters reports that the DFL is planning to launch the sale of a $3.6 billion stake in the subsidiary towards the end of October. The new business will manage both the domestic and international media rights for the Bundesliga and Bundesliga 2.

It is understood that the governing body met with a first set of buyout funds last week and is aiming to conclude meetings with the remaining bidders this week.

Eight firms are now said to have registered interest. CVC, KKR, EQT, Blackstone and Bridgepoint had already been reported to be among those on the list. According to German outlet Kicker, the other three are Advent International, Bain & Company and Liberty Media.

10 to 20 per cent stake

The discussions will help DFL gauge the level of interest in the new business and the size of the stake on offer, which could be anywhere between 10 per cent and 20 per cent.

A spokesperson for the DFL told Reuters that the option of a "strategic partnership that brings growth capital and know-how" was being examined, adding that "a formal sales process is currently being set up for this".

UEFA look at playing Champions League final in the US

UEFA are exploring the possibility of playing a Champions League final in the US, Spanish daily sports newspaper Diario AS reports.

Europe’s football governing body, together with the European Club Association (ECA), are understood to be keen to further capitalise on the lucrative American market following the latest media rights deal in the country.

Paramount struck a new six-year agreement to retain the US broadcast rights for the Champions League in a deal reported to be worth $1.5 billion.

Firm platform

The strong presence that UEFA’s sales partner, Relevent Group, has established in the US market is said to offer UEFA a firm platform on which to secure lucrative agreements.

Relevent was responsible for organising the International Champions Cup, a summer tournament involving elite teams from Europe and elsewhere previously held in the US.

Chelsea are exploring the possibility of buying clubs in Brazil as part of new owner Todd Boehly’s plans to create a multi-club group, The Evening Standard reports.

Santos are understood to have been contacted over a link to their renowned academy, whose most famous graduates include Pele and Neymar, but the Brazilian giants were not interested.

Chelsea are now expected to re-group and look at smaller clubs in Brazil. The Blues are also reported to have pursued options in Portugal and Belgium. The aim is to emulate the likes of Red Bull and City Football Group in both fostering and stockpiling young talent.

End to big loan operation

The multi-club plans also signal an end to the approach of loaning out large numbers of players used under Roman Abramovich to trade and balance the books to avoid Financial Fair Play (FFP) sanctions.

Chelsea released as many as 10 players for free this summer, including Michy Batshuayi, Ross Barkley, Matt Miazga and Danny Drinkwater.
 

Lyon takeover still not complete as John Textor looks for funds

American businessman John Textor is still looking for funds to complete his takeover of Lyon, with two weeks to go until the deadline for the deal to go through, according to L’Équipe.

Textor is due to become the Ligue 1 club’s new owner after agreeing a takeover deal back in June. However, it is understood he is still not the majority owner and is still trying to find the necessary financing.

Confidence is said to be high, though, both at the club and among the businessman’s team that the deal can be officially completed. 

The American is understood to have been in discussions with contacts, particularly in the US, and sources involved in his business circles claim that the sums needed and being discussed amount to several tens of millions of euros. 

Pathé and IDG stakes

Textor’s company Eagle is due to acquire the shares of Pathé (19.26 per cent of the capital) and IDG (19.74 per cent) after the two shareholders announced in March their joint intention to withdraw, as well as a majority of the shares of Holnest (27.56 per cent), the family holding company of current president Jean-Michel Aulas. 

Exclusive negotiations were officially announced on 20th June by OL Groupe and the general meeting of 29th July gave the board full powers to validate the sale before the deadline of 30th September.
 

Manchester City aim to host Champions League final with stadium expansion to 60,000

Manchester City have announced plans to extend the Etihad Stadium's capacity to around 60,000 so it can qualify to host a Champions League final.

The Premier League champions want to add at least an extra 5,000 seats, enabling it to meet UEFA's strict capacity quota to host the final of its elite competition. 

City's stadium already holds over 55,000, but the club have had planning permission to carry out the work since adding an extra tier to the South Stand in 2015. The aim is to become the third biggest stadium in the English top-flight.

The Daily Mail reports that while the project has become a priority for the club, there is no set time frame in which the work needs to be completed and with construction of the Co-op Live Arena next door ongoing, City are keen to wait until the culmination of that project, set for December 2023. 

Combining tiers

Several options have been suggested for how to increase the capacity, such as joining together the two ends behind both goals, as well as combining tiers in the stadium to create space for around 5,000 extra spectators. 

Another intention is to increase the number of corporate facilities at the stadium and the club are thought to be exploring methods of doing so. Plans may also include the addition of a hotel to the site. 
 

Saudi Arabia offer Serie A €138 million to resume hosting of Italian Super Cup

Saudi Arabia has offered Serie A €138 million to host the Italian Super Cup until 2029, according to Milano Finanza.

The proposal equates to a cost of €23 million per year, with travel and accommodation expenses to be covered separately by the Arab country.

The amount is somewhat lower than the €30 million per year Saudi Arabia pays for its contract with the Royal Spanish Football Federation (RFEF) for the Spanish Super Cup. That deal lasts until 2029 after being extended last year.

Hosted for five years

Saudi Arabia previously hosted the Italian Super Cup for five years before Serie A decided to take it back to Italy in 2021 amid the ongoing Covid-19 pandemic. 

The cost of the previous contract was €8 million per year, around one third of the value of the new offer.

AFC Bournemouth owner Maxim Demin is reported to be reviving an attempt to sell the club following its return to the Premier League this season.

According to a document on the process codenamed ‘Project Goal’ seen by Bloomberg, the Russian has appointed California-based advisory firm Montminy & Co. to help oversee a sale of the club and is “seeking an acquirer to capitalise on the club’s ongoing success.”

The document shows that revenue at Bournemouth, who currently sit in 13th place in the English top-flight, is expected to climb from £118.5 million this year to £150.1 million in 2023.

Already in discussions

Sources said that Bournemouth are already involved in discussions with one group of investors. Representatives for Bournemouth and Montminy declined to comment.

Demin acquired 50 per cent of the club in 2011 and took full control two years later. Bloomberg reported in July 2021 that Bournemouth’s management had been in contact with a select group of potential investors and buyers.

Chelsea target Portuguese club takeover after Todd Boehly talks with Jorge Mendes

Chelsea are reported to be eyeing the acquisition of a club in Portugal as part of the new owners’ plan to follow the multi-club model set by Red Bull and City Football Group.

According to The Daily Telegraph, co-controlling owner Todd Boehly met with Chelsea’s academy manager Neil Bath and super-agent Jorge Mendes in Portugal in June, when it is believed the subject was discussed.

Bath is understood to have been scouting the best clubs for Chelsea to send their young players, while Mendes’ extensive links in Portugal are said to make him an ideal go-between in any formal bid to purchase a club.

Opportunities in Belgium

Chelsea are also believed to have discussed potential opportunities in Belgium with agents working as go-betweens.

The club’s next long-term sporting director would be heavily involved in the satellite-club expansion, which helps to explain why Red Bull Salzburg’s Christoph Freund is one of the leading candidates.

LaLiga SmartBank club Leganés "surprised" by €19.5 million spending limit

Confusion has emerged over the salary cap handed to Spanish second-tier club Leganés by LaLiga for the 2022/23 campaign.

The club have been given a spending limit of €19.5 million, the second highest in LaLiga SmartBank, and sporting director Txema Indias has told Spanish daily sports newspaper Diario AS that he was "surprised" to see the figure.

Indias believes it is not the real limit with which the club can work, and blames any confusion on the fact that it includes future provisions from LaLiga’s project with private equity firm CVC.

LaLiga Impulso money

“As far as I know, it is an amount that is linked to the money that LaLiga Impulso grants, but not only for the present, but for the future," Indias said.

"Not long ago we were in [the Spanish top-flight] and that has also allowed us to have a little more margin in that contribution of CVC, but it is not money that is real, that we can use already for signings."

Jürgen Klopp dismisses Todd Boehly’s ‘All-Star’ north v south idea

Liverpool manager Jürgen Klopp has ridiculed Chelsea owner Todd Boehly’s suggestion of playing an ‘All-Star’ north v south match to raise funds for the English football pyramid.

The Times reports that Boehly suggested the Premier League could learn from American sports to increase their financial support for lower-league clubs.

“People are talking about, ‘Why don’t we have more money for the pyramid?’,” Boehly said. “[Major League Baseball] did their All-Star game this year. They made $200 million from a Monday and a Tuesday; you could do a north v south All-Star game from the Premier League to fund the pyramid very easily.”

Four-month breaks

Klopp was dismissive of Boehly’s idea when asked about it, saying: “Oh great, when he finds a date for that he can call me.

In American sports these players have four-month breaks so they are quite happy they can do a little bit of sport in their breaks. It is completely different in football.”

Boehly also suggested the Premier League could hold relegation play-offs. “Ultimately, I hope that the Premier League takes a little bit of a lesson from American sports and really starts to figure out, ‘Why wouldn’t we do a tournament with the bottom four teams?’,” he said.

AC Milan shareholders appoint new board of directors

AC Milan have confirmed the makeup of their new board of directors following the takeover of the club by American investment firm RedBird, which was finalised on 31th August.

In a statement, the Serie A champions said the board had reappointed Paolo Scaroni as chairman and Ivan Gazidis as CEO.

The club confirmed that the new board will also include RedBird founder and managing partner Gerry Cardinale and his right-hand man Alec Scheiner.

Three board members chosen by Elliott

Joining them from RedBird will be Niraj Shah and Isaac Halyard, as well as three members chosen by Elliott Management, the club’s previous owners:

Gordon Singer, Giorgio Furlani and financial analyst Stefano Cocirio.

Scaroni said: “The new board of directors includes Elliott representatives who were already sitting on the board, guaranteeing the continuation of the added value seen in the past few years, as well as a balanced approach during this transitional phase.”

The new board of directors was appointed on Wednesday during a shareholders' meeting held in Milan.

Chelsea owner Todd Boehly has revealed that establishing a multi-club ownership model similar to that developed by the City Football Group (CFG) is central to his plans for the West London club.

Speaking at the SALT thought leadership and networking forum 
in New York on Tuesday, Boehly outlined his vision for the club which he acquired together with Clearlake Capital back in May.

The American said he was looking to develop a “global business at a local level” and expressed his admiration for the multi-club setups established by CFG, which has total or partial ownership of 12 clubs around the world, and by Red Bull, which owns RB Leipzig, FC Red Bull Salzburg as well as the New York Red Bulls and two clubs in Brazil.

Boehly said he wants to buy stakes in teams across Europe and elsewhere with a view to them becoming feeder clubs for the Blues.

“One of the challenges Chelsea has right now is that when you have 18, 19, 20 year-old superstars you can loan them out to other clubs but you put their development in someone else’s hands,” Boehly said.

“So our goal is to make sure we can show pathways for our young superstars to get on to the Chelsea pitch while getting them real game time. And for me the way to do that is through another club somewhere in a really competitive league in Europe.”

No “shared vision” with Tuchel

The Chelsea owner also commented on the decision to sack Thomas Tuchel as manager, admitting that “we didn’t have a shared vision for the future.”

On the appointment of Graham Potter as the club’s new head coach, he said: "Our vision for the club was finding a manager who really wanted to collaborate with us ... to bring a team together with the academy, first team and incremental clubs we want to acquire and develop." 

Real Madrid report €13 million profit for 2021/22

Real Madrid have announced that the club made a €13 million profit for the 2021/22 financial year, despite their revenues still being impacted by the Covid-19 pandemic.

In the 2021/22 season Madrid won their 14th Champions League, as well as claiming the LaLiga title and winning the Spanish Super Cup.

Operating income reached €722 million, up €69 million (10 per cent) on the previous year. The club pointed out that its revenues were still lower than in 2017/18 and €100 million lower than in 2019/20, but said “the economic effects of the pandemic are gradually subsiding.”

Madrid estimates its loss of income due to the pandemic since March 2020 to be €400 million, but noted that they had managed to remain in profit over the three financial years affected by Covid. 

Higher EBITDA 

Madrid generated an EBITDA of €203 million in 2021/22, up from €180 million in 2020/21 and €177 million in 2019/20. Net assets reached €546 million, €14 million higher than before the pandemic as at June 2019. 

The cash balance at 30 June 2022, excluding the club’s stadium redevelopment project, was €425 million, and the club had undrawn credit facilities of €354 million.

The club added that its net debt, excluding the stadium redevelopment project, has reached a value of -€263 million as of 30th June 2022. “This amount actually represents not a debt but a net liquidity position, as the sum of cash and transfer debtors is greater than the credit balances for investments, bank debt and advances,” it explained.

Norwich City sell 18 per cent stake to Milwaukee Brewers owner Mark Attanasio

American businessman Mark Attanasio, who owns the Major League Baseball franchise Milwaukee Brewers, has completed his purchase of an 18 per cent stake in Norwich City, The Athletic reports.

The deal, which was approved at a general meeting of the club’s shareholders on Monday night, follows the private sale by long-standing director Michael Foulger of his ordinary shares.

Attanasio will officially become a director at the EFL Championship club, with Foulger set to remain on the board for now. However, it remains to be seen whether Foulger will keep his place until the club’s AGM in November or until the end of the season.

Attanasio will provide an initial £10 million loan to the club, and joins its largest shareholders, TV chef Delia Smith and her husband Michael Wynn-Jones, along with their nephew Tom Smith, Foulger and recently appointed executive director, Zoe Ward, on the Norwich board.

Future addition to the board

One of the resolutions voted for on Monday, allowing a director to be appointed who does not own any shares in the club, is likely to create the desire for another future addition to the board, put forward by Attanasio or the incumbent directors.

Norwich’s yo-yo existence, with four relegations from the Premier League and three promotions into the top-flight since 2014, had led to calls from frustrated fans for fresh ideas and new money.

Qatar World Cup Final stadium sees major issues at opening match

Fans who attended the first match to be played at Qatar’s largest stadium and the last of eight World Cup venues to be completed have complained of several issues, including long walks to get to the ground and a lack of water.

The opening ceremony at Lusail Stadium, which was followed by the Lusail Super Cup match between Al Hilal and Zamalek, attracted 77,575 spectators on Friday.

Dubbed Qatar’s ‘jewel in the desert,’ the venue has been chosen to host the World Cup final on 18th December. It has the capacity to welcome 80,000 fans and is said to have spectacular facilities.

However, Doha News reports that supporters spoke of “never-ending” issues experienced in and around the ground. Several reported long walks to the venue due to complications with the shuttle bus service. One person said he and his family of five had to walk in 35°C heat for over 45 minutes to reach the stadium.

Once inside the ground, many fans suffered further difficulties, including being unable to find drinking water. According to several people, vendors either ran out of cold water or did not have any water by the time people rushed to drink after walking for over 30 minutes.

“Not enough volunteers” 

Other complaints related to poor air-conditioning, a sound system failure and there not being enough volunteers to aid with the huge number of fans that flocked to the stadium.

A statement from Qatar’s Supreme Committee for Delivery and Legacy read: “As a test event, the Super Cup was designed to identify any operational issues and learn lessons that may be applied to help Qatar deliver a seamless experience for all at the FIFA World Cup 2022. Every team involved in the event’s organisation gained invaluable experience they will carry into this year’s tournament.”

Paris Saint-Germain president Nasser Al-Khelaifi has called for rules to prevent football clubs from taking on too much debt, which he described as “a danger.”

Spanish daily sports newspaper Marca reports that the Qatari, who is also chairman of the European Club Association (ECA), made a veiled criticism of FC Barcelona for their large debts.

Speaking via video link during Football Talks, a conference at the Portuguese Football Federation (FPF) HQ in Oeiras, Lisbon, he said that "during the pandemic, football survived because of the investment that was made" and that "in the opposite case, it would not have managed to overcome the situation as it did".

However, he pointed out that "many clubs lost a lot", which led to them being "deeply in debt", and noted that there are teams that are €1.8 billion in debt –without naming names – and that "this is a danger" for the sport.

It was noted that Al-Khelaifi failed to acknowledge the large injections of funds PSG have received from their owners Qatar Sports Investments,a subsidiary of the Qatari state-run sovereign wealth fund, to keep them afloat.

“Rules that protect clubs”

Al-Khelaifi declared that it is necessary to "create rules that protect European football clubs" from getting into high levels of debt. He also argued that if football does not attract investment it will go to other sports.

In addition, the beIN Media Groupchairman reinforced his rejection of the European Super League and defended the new Champions League format, which, in his view, "is a success".

LaLiga president to report Premier League to UEFA for causing “transfer inflation”

LaLiga president Javier Tebas has said he is preparing a report for UEFA about what he claims is “unsustainable spending” by Premier League clubs, who he believes are causing “transfer inflation."

His warning comes after English top-flight clubs spent more than £2 billion during the summer transfer window, compared to La Liga's £404 million. The English sides’ net spend was €1.35 billion compared to the Spanish league’s €52.4 million.

Tebas noted that while Premier League revenues are 1.8 times more than those of LaLiga or the Bundesliga, the transfer spending by English clubs was 20 times more than in the Spanish league.

"Something doesn’t make sense there, so what’s happening?,” Tebas said. “There’s a lot of chequebooks coming out from clubs like Manchester City that sign a certain amount of players. Even the Championship lost €3 billion over five years.

He added: “The two competitions that are the most sustainable are LaLiga and the Bundesliga and we have to really fight for sustainability. … We’re going to put all this to UEFA and it is important for all the other European leagues as we want sustainable European football."

LaLiga spending limits confirmed

Tebas was speaking after LaLiga confirmed its spending limits on clubs for the 2022/23 season, with Real Madrid and FC Barcelona having the two largest salary caps by some distance.

Madrid’s cap has been set at €683.5 million, slightly down on last season’s €739 million, while FC Barcelona’s limit has gone from -€144 million in January to €656.5 million for the new campaign – the biggest year-on-year change since the cap was introduced in 2013.

The huge turnaround in Barça’s limit followed the triggering of their four economic levers this summer, which also allowed it to spend around €150 million on new players during the summer, including Robert Lewandowski for €45 million, as well as Jules Koundé, Raphinha, Andreas Christensen, Franck Kessié, Héctor Bellerín and Marcos Alonso.

By contrast, Real Madrid made just two new signings of note – Aurélien Tchouaméni for €80 million and Rüdiger on a free transfer.

"The limit is very clear"

Among other LaLiga clubs, Atletico Madrid have the third highest cap, with their limit almost doubling from €171 million last season to €341 million this term. Elche have the lowest spending limit of all Spanish top-flight clubs, at €42.672 million.

The limit indicates the maximum amount each club can spend during the season after the summer window, including on the first team in relation to players, managers and coaching staff, as well as on reserves and youth systems.

In an interview with the magazine Influencers, Tebas again defended the spending caps imposed by the league. He said the limit is “very clear,” adding that “the only club who says it is not is FC Barcelona.”

PFA given official warning by Charity Commission over “mismanagement”

The Professional Footballers' Association charity has been handed an official warning by the Charity Commission over "mismanagement" between 2013 and 2019.

In documents seen by the BBC, the Commission tells the charity – now known as the Players Foundation – it is taking the action because of "various failings…over a prolonged period of time."

They include a "failure to ensure its assets were being used in the most appropriate way by failing to review its longstanding relationship with, and payments to, a trade union.”

The Commission said there was also a "failure to appropriately manage and control £1.9 million of charitable funds that had been transferred out of the charity's accounts."

"Serious concerns"

The regulator has been investigating the Foundation, which supports past and present players, for several years. It was escalated into a statutory inquiry in 2020 over "serious concerns" about the way the body was managed.

The Commission acknowledged that the charity had "taken steps to remedy the failings", but said that it has considered whether further regulatory action is necessary in relation to any trustees, and "will take appropriate steps in that regard".

In a statement, the Players Foundation said: "No other charity has faced such scrutiny. Every aspect of our work has been under the magnifying glass. It has been hard for all involved but we welcome the findings and are proud of the work we have done over the last nine years.”

My Career in Sports Law: Jes Christian Fisker, Owner of law firm Jes Christian Fisker and University lecturer in International Sports Law

What makes football law different from other careers?
"The diversity and unpredictability of assignments as football law truly is a unifying and global umbrella term for several often overlapping legal disciplines. And often it also attracts a disproportionate amount of attention in the media compared to other and bigger areas of law. For me, still an active football player, it is also a privilege to combine my passion for the game with my legal background - working many years at the Danish FA before founding the first and still the only law firm in Denmark 100 percent dedicated to football law."

Who in this industry has inspired you the most?
"I could mention many people, especially former and present employees from the Danish FA, UEFA, and FIFA, who all have been the source of big inspiration to me in my career and personal development as a lawyer. If I have to pick one person, however, it would be a lawyer and CAS arbitrator, Michele Bernasconi, who is possibly the best communicator with his clear and always informative presentations of many different football legal topics."

What is the most complicated case you have been involved in and why?
"If I have to mention just one case with the most severe ramifications and media attention it would be the Danish FA's dispute with the Danish Players Union and the simultaneous strike of the players on the national team, including players like Christian Eriksen, Kasper Schmeichel and co., caused by their failure to reach an agreement over commercial conditions. This unprecedented dispute forced Denmark to field a scratch team made up of players from the lower divisions and futsal in an official friendly match against Slovakia.”

Looking into your crystal ball, which area of football law do you see growing in importance and relevance?
"The last couple of months I have received a lot of questions from football agents about the new FIFA agents’ regulations and FIFA Clearing House, and what impact the regulatory changes will have on the industry. Also, some lawyers have asked me if they will again be exempted from the new FIFA agents’ regulations as they have been in the past. Some other hot topics at the moment are the increasing power of national leagues and the good governance questions in relation to club self-regulation.”

A prominent board member of SC Freiburg, who currently lie in second place in the Bundesliga, has said that German clubs and others in the game are beginning to discuss how they will deal with the potential financial impact of the new-look Champions League on their domestic competitions.

In an interview with Kicker, Oliver Leki, who has been Freiburg’s chief financial, operations and marketing officer since 2014, warned that the German league may become even more predictable due to the reforms being made to Europe’s elite competition.

Last season Bayern Munich won their 10th successive Bundesliga title, and Leki is worried that the new format of the Champions League will make clubs such as Bayern even more dominant.

"Above all, I am concerned about the question of the distribution of the additional revenues and the effects on the national competitions," he said, pointing out that the new ‘Swiss model’ format means more games and will deliver an increase in media revenues which he is concerned will benefit the biggest clubs disproportionately.

“Will not be more exciting”

Commenting on the potential effects on German football, Lekisaid: "One could assume that the championship fight will not be more exciting. In the Bundesliga and Bundesliga 2 we have great excitement in terms of promotion and relegation and with a view to the European places, but ten times in a row the same champion.”

Leki, who is also the 2nd deputy speaker of the DFL executive committee and vice president of the DFB, said that clubs and other senior figures in the game have kickstarted a critical examination of the topic.

"The discussions have begun on how to deal with it," he said. “First of all, we need to raise awareness of the situation, because not everyone seems to be aware of the implications yet.”

Three Premier League fixtures postponed due to Queen’s funeral

The Premier League has confirmed that the English top-flight will resume this weekend following the death of Queen Elizabeth II, but three games will be postponed due to the pressure on police resources.

In a statement, the EPL announced that two games originally scheduled for Sunday – Chelsea v Liverpool and Manchester United v Leeds United – will have to be rearranged due to events surrounding The Queen’s funeral, which will be held in London the following day.

The game between Brighton and Crystal Palace scheduled for Saturday has also been affected. The fixture had already been moved due to a rail strike which has since been called off, but the game will remain postponed.

“Following extensive consultation with clubs, police, local Safety Advisory Groups and other relevant authorities, there was no other option but to postpone the three fixtures,” the Premier League said.

In addition, kick-off times will change for the two games that will be played on Sunday, with Brentford v Arsenal moving to 12pm BST and Everton v West Ham to 2.15pm BST.

Europa League match moved

Arsenal’s Europa League match against PSV Eindhoven in London on Thursday has also been postponed, while Rangers have moved their Champions League match in Glasgow from Tuesday to Wednesday and barred Napoli supporters to ease the pressure on local policing as the Queen’s coffin moves south.

This week’s full EFL programme will go ahead as planned over Tuesday and Wednesday, and the Scottish Premiership will resume as normal this weekend. All UK domestic football was paused last weekend as a mark of respect to the late Queen.

Burnley face EFL investigation over ownership claims

Burnley are facing an EFL investigation into the ownership of the club amid uncertainty over who is in charge of the Championship side, The Daily Mail reports.

American consortium ALK Capital paid £170 million to buy Burnley two years ago in a highly leveraged takeover largely funded by debt and the club’s own money.

However, according to The Mail, the authorities have since received information suggesting that the ultimate owners could be another financial entity based in Jersey.

The Premier League began making enquiries last season and the matter has been passed on to the EFL following the club’s relegation.

The EFL are understood to have asked Burnley to clarify certain aspects of their ownership, particularly regarding their alleged links to institutions in Jersey.

Rival clubs made aware

Other Championship clubs are said to have been made aware of the issue, which was discussed at an EFL meeting last week. ALK Capital are registered to an address in Leeds, with all three directors registered in Delaware.

Burnley sources told The Mail that ALK are unequivocally the owners of the club and that they have yet to receive questions from the EFL. The Premier League and EFL declined to comment.

Chelsea are reported to have shelled out £22 million in compensation to appoint Graham Potter as their new head coach, marking the first significant step in a major overhaul of the club’s operations under its new owners.

According to The Times, the compensation cost paid by the West London club to Brighton & Hove Albion is £20 million for Potter and a further £2 million for the five-strong backroom team that have gone with him.

The £22 million figure is a world record sum for a manager, beating the €20 million (£17.4 million) Bayern Munich paid Leipzig for Julian Nagelsmann last year.

Potter’s appointment followed the sacking of Thomas Tuchel amid talk of a disconnect over some issues between the German manager and the club’s new owners Todd Boehly and Clearlake Capital, who acquired the club in May.

Long-term stability

The five-year deal agreed with Potter signal a plan to take an approach distinct to the hire and fire culture of the Roman Abramovich era, centred around long-term stability with a manager who buys into the new owners’ project.

According to reports there will be a strong focus on developing young players and connecting the academy and first team, and an elevated role for data, with an executive akin to the role Ian Graham has at Liverpool as director of research.

In addition, commercial and sponsorship departments are being strengthened, co-ordinated by Tom Glick, the new president of business, whose previous job was president of the NFL’s Carolina Panthers. He has also been chief commercial officer of City Football Group (CFG) and was CEO of Derby County.

According to The Sun, Chelsea also plan to adopt a multi-club model similar to that developed by CFG, buying stakes in teams across Europe and elsewhere with a view to them becoming ‘feeder’ clubs for the Blues.

LaLiga president to report Premier League to UEFA for causing “transfer inflation”

LaLiga president Javier Tebas has said he is preparing a report for UEFA about what he claims is “unsustainable spending” by Premier League clubs, who he believes are causing “transfer inflation."

His warning comes after English top-flight clubs spent more than £2 billion during the summer transfer window, compared to La Liga's £404 million. The English sides’ net spend was €1.35 billion compared to the Spanish league’s €52.4 million.

Tebas noted that while Premier League revenues are 1.8 times more than those of LaLiga or the Bundesliga, the transfer spending by English clubs was 20 times more than in the Spanish league.

"Something doesn’t make sense there, so what’s happening?,” Tebas said. “There’s a lot of chequebooks coming out from clubs like Manchester City that sign a certain amount of players. Even the Championship lost €3 billion over five years.

He added: “The two competitions that are the most sustainable are LaLiga and the Bundesliga and we have to really fight for sustainability. … We’re going to put all this to UEFA and it is important for all the other European leagues as we want sustainable European football."

LaLiga spending limits confirmed

Tebas was speaking after LaLiga confirmed its spending limits on clubs for the 2022/23 season, with Real Madrid and FC Barcelona having the two largest salary caps by some distance.

Madrid’s cap has been set at €683.5 million, slightly down on last season’s €739 million, while FC Barcelona’s limit has gone from -€144 million in January to €656.5 million for the new campaign – the biggest year-on-year change since the cap was introduced in 2013.

The huge turnaround in Barça’s limit followed the triggering of their four economic levers this summer, which also allowed it to spend around €150 million on new players during the summer, including Robert Lewandowski for €45 million, as well as Jules Koundé, Raphinha, Andreas Christensen, Franck Kessié, Héctor Bellerín and Marcos Alonso.

By contrast, Real Madrid made just two new signings of note – Aurélien Tchouaméni for €80 million and Rüdiger on a free transfer.

"The limit is very clear"

Among other LaLiga clubs, Atletico Madrid have the third highest cap, with their limit almost doubling from €171 million last season to €341 million this term. Elche have the lowest spending limit of all Spanish top-flight clubs, at €42.672 million.

The limit indicates the maximum amount each club can spend during the season after the summer window, including on the first team in relation to players, managers and coaching staff, as well as on reserves and youth systems.

In an interview with the magazine Influencers, Tebas again defended the spending caps imposed by the league. He said the limit is “very clear,” adding that “the only club who says it is not is FC Barcelona.”

FIFA report: Summer transfer market spend reached $5 billion

The global transfer market accelerated its recovery from the Covid-19 pandemic during this year’s summer window, according to FIFA’s latest International Transfer Snapshot.

The figures, covering the period from 1st June to 1st September 2022, show that $5 billion in total fees was spent on international transfers of male professional players, 29.7 per cent up on last year’s summer window.

There were 9,717 international transfers involving male professional players, 16.2 per cent more than in the same period in 2021 and a new all-time high.

For the fifth year in a row, international transfers of female professional players also reached a new all-time high of 684 transfers, up 14.4 per cent on the same period in 2021.

Agent fees on the rise

Across the market as a whole, Portuguese clubs made a particularly strong recovery, more than tripling their receipts from transfer fees compared to the same period in 2021 after two consecutive years of significant decreases.

The total amount of service fees for club agents declared in transfers was $494.4 million. FIFA noted that over the past ten years, the ratio of agent service fees to transfer fees during the summer window has grown from 6.1 per cent in 2012 to 9.9 per cent in 2022.

In contrast, the total payments for training rewards in this year’s summer window amounted to $69 million.

Juventus are set to post another heavy annual loss after it was revealed the club suffered a deficit of €132 million in the second half of the 2021/22 financial year.

The latest half-year report from Exor, the holding company of the Agnelli-Elkann family which controls 63.8 per cent of Juventus, gives details of the club’s financial performance for the period from January to June 2022.

With the Turin club having posted a loss of €119 million for the first half of 2021/22, it is expected that the club’s balance sheet as of 30th June 2022 will show a deficit of around €250 million.

Fifth consecutive year of losses

If the losses are confirmed they would be higher than the €209.9 million deficit suffered by Juventus in 2020/21, and would be the fifth consecutive year of losses. The club ended with deficits of €89.7 million in 2019/20, €39.8 million in 2018/19 and €19.2 million in 2017/18.

Juventus' board of directors will meet between 16 and 23 September to approve the financial statements as at 30 June 2022, after which the exact balance sheet result for 2021/22 will be known.

The figure presented by Exor could undergo further adjustments, as happened in 2019/20, in the event of extraordinary items.
 

Benfica losses double to €35 million for 2021/22 despite record turnover

Benfica have reported a loss of €35 million for 2021/22, more than double that of the previous year, despite achieving record turnover.

The key factor in the deficit, which was 52 per cent higher than in 2020/21, was a drop in player sales to €41.6 million, 52 per cent less than in the previous year, when the club earned €87.6 million from the transfer market.

The Primeira Liga club grew their turnover by 80 per cent compared with 2020/21, to €169.3 million – the highest turnover in its history. The return of spectators and the club’s run to the quarter-finals of the Champions League were the main drivers.

Broadcast revenue reached €47.3 million, down 14 per cent on the previous year. However, commercial income rose by 9.6 per cent to €30 million.
 
Wage bill up 16 per cent

Operating income, excluding player rights transactions, reached €67.6 million, up 46 per cent on the previous year. Personnel expenses, including player wages, climbed to €112 million, up from €97 million in the previous year – a rise of 16 per cent.
 

Sporting Lisbon report €25.1 million profit for 2021/22

Sporting Lisbon have posted a net profit of €25.1 million for the 2021/22 financial year after suffering a loss of €32.95 million in 2020/21.

The Portuguese club’s turnover almost doubled, rising from €64.45 million to €122.66 million, and the club also earned more from player sales, resulting in total income of almost €180 million.

Sporting’s qualification for the last 16 of the Champions League, where they lost to Manchester City, resulted in payments from UEFA of €45.9 million, well above the €25.6 million it received for the individual sale of its Primeira Liga broadcast rights.

The return of fans allowed ticketing to contribute €17.18 million, compared to just €973,000 in 2020/21, while there was also a significant jump in merchandise sales, from €4.45 million to €7.68 million.

Commercial income generated just €0.5 million more despite the extra exposure of the Champions League, rising to €17.18 million. 

Salary costs rise by 8.2 per cent

As for costs, spending on wages grew by 8.2 per cent to €67.09 million, while amortisation costs related to the purchase of players increased by 5.9 per cent to €26 million. Operating expenses rose by €10 million to €32.6 million due to the increase in matchday expenses.

Despite the improvement in profitability, the club also increased its liabilities by almost 10 per cent, to €336.39 million. There are long-term loans for €101.82 million and another for €56.65 million in the short term.
 

PFA given official warning by Charity Commission over “mismanagement”

The Professional Footballers' Association charity has been handed an official warning by the Charity Commission over "mismanagement" between 2013 and 2019.

In documents seen by the BBC, the Commission tells the charity – now known as the Players Foundation – it is taking the action because of "various failings…over a prolonged period of time."

They include a "failure to ensure its assets were being used in the most appropriate way by failing to review its longstanding relationship with, and payments to, a trade union.”

The Commission said there was also a "failure to appropriately manage and control £1.9 million of charitable funds that had been transferred out of the charity's accounts."

"Serious concerns"

The regulator has been investigating the Foundation, which supports past and present players, for several years. It was escalated into a statutory inquiry in 2020 over "serious concerns" about the way the body was managed.

The Commission acknowledged that the charity had "taken steps to remedy the failings", but said that it has considered whether further regulatory action is necessary in relation to any trustees, and "will take appropriate steps in that regard".

In a statement, the Players Foundation said: "No other charity has faced such scrutiny. Every aspect of our work has been under the magnifying glass. It has been hard for all involved but we welcome the findings and are proud of the work we have done over the last nine years.”