Finances

October 22, 2020October 22, 2020 David

Barcelona, La Liga

Barcelona Players Sign Extensions With Lower Wages

Four senior Barcelona players have signed new contracts which include a temporary salary reduction because of the impact of coronavirus.

The signings is a big win for embattled Barcelona president Josep Maria Bartomeu as they bat back criticism that he and the board have lost the dressing room. That Bartomeu was able to get Pique and ter Stegen to sign new deals with club is a big win for him.

Long-serving centre-back Gerard Pique, keeper Marc-Andre ter Stegen, defender Clement Lenglet and midfielder Frenkie de Jong have extended their deals. Read more... (253 words, estimated 1:01 mins reading time)

October 21, 2020October 22, 2020 David

Man Utd.

Manchester United Finances Hit Hard By COVID

Manchester United suffered a £70m drop in revenue in the period to 30 June 2020 as a direct result of the coronavirus pandemic.

United’s overall revenue was down 18.8% from £627.1m to £509m, but part of this was due to the club not qualifying for last season’s Champions League. In last year’s statement, United had estimated revenues could reach £580m.

Overall, United made a net £18.9m profit in 2018-19 and a net £23.2m loss in the most recent financial year.

It was also confirmed within the results that the Glazers still took an additional £23.23m out of the club in the form of share dividends. Read more... (423 words, estimated 1:42 mins reading time)

July 13, 2020July 13, 2020 David

La Liga, Man City

La Liga President Unhappy With Manchester City FFP Decision

La Liga president Javier Tebas has criticized the decision to overturn Manchester City’s two-season ban from European football.

The Court of Arbitration for Sport (CAS) confirmed on Monday that the Premier League club had been cleared of “disguising equity funds as sponsorship contributions” and would be allowed to enter into European competitions as normal.

Back in February, the club had received a two-year ban from playing in the Champions League or Europa League following a lengthy investigation from UEFA.

“We have to reassess whether the CAS is the appropriate body to which to appeal institutional decisions in football,” Tebas said on Monday, as quoted by BBC Sport’s Simon Stone. Read more... (315 words, estimated 1:16 mins reading time)

July 13, 2020 David

Champions League, Man City, Premier League

Manchester City Champions League Ban Overturned

Manchester City have won their battle with UEFA and their two-year Champions League ban has been lifted.

The Premier League club were banned from European football for two years in February after UEFA found they had committed ‘serious breaches’ of its Financial Fair Play regulations.

But many of the alleged breaches were more than five years old while City, adamant that they had done nothing wrong, appealed to the Court of Arbitration for Sport (CAS), who heard the case last month. Read more... (371 words, estimated 1:29 mins reading time)

May 23, 2020May 24, 2020 David

Man Utd., Premier League

Manchester United Financials Show Impact Of Shutdown

Manchester United’s executive vice-chairman, Ed Woodward, addressed the club’s investors on Thursday to discuss the club’s latest set of financial results, the numbers sounded bleak.

Over a 40 per cent increase in net debt, revenues down and an estimated £23 million ($28m) already lost due to Covid-19 made up the headlines, and the worst is yet to come as these numbers are through only the end of March.

Games behind closed doors, the club’s shop and museum remaining closed and a huge reduction in broadcast revenue will ensure the next quarter’s results have a similarly negative impact. Read more... (590 words, estimated 2:22 mins reading time)

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April 21, 2020April 21, 2020 David

Barcelona, La Liga

Barcelona To Ask Players To Take An Additional Pay Cut

With money tight everywhere we get a glimpse into who the best run football clubs. And who are not. One of the leaders in the worst-run category is Barcelona, who are going back to their players and asking them to take further wage cuts as Barca’s 2021-22 budget will be €200 million less than what it was this season.

The players have already agreed to take a 70% reduction to their monthly salaries to help Barca through this economic crisis, biut former vice president Emili Rousaud, who was a member of the board of directors until last week, told ESPN “the club’s proposal lacked ambition given the economic problems they will have to face.” Read more... (328 words, estimated 1:19 mins reading time)

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April 21, 2020 David

Ligue 1

PSG Set For ‘Colossal’ Financial Losses Due To Coronavirus Pandemic

The richest football club in the world, Paris Saint-Germain, are expecting to to suffer massive financial losses because of the coronavirus crisis according to their chairman Nasser Al-Khelaifi.

Al-Khelaifi is involved in negotiations to break the stalemate between France’s professional clubs and TV rights holders Canal+ and beIN Sports after the pair refused to pay the latest installment in their agreement because no fixtures are taking place.

Consequently, teams in Ligue 1 and Ligue 2 are under very serious financial threat with state-aided partial unemployment and a freeze on employers’ charges related to players’ salaries all that is keeping some afloat. Read more... (321 words, estimated 1:17 mins reading time)

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March 30, 2020March 30, 2020 David

Barcelona, La Liga

Barcelona Players Take 70 Per Cent Wage Cut

Barcelona and Lionel Messi have confirmed their first-team squad have accepted a wage cut of over 70% due to the coronavirus outbreak.

The statements confirm that the players accepting the cut will allow the club’s non-sporting staff – on significantly lower salaries – not to have any salary reduction enforced upon them.

The first statement came from Argentine star Messi on Monday morning on his Instagram account, claiming that the players would always act with the best interests of the club at heart – and took a thinly-veiled aim at sources within the club who had suggested this would not be the case. Read more... (394 words, estimated 1:35 mins reading time)

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February 27, 2020March 28, 2020 David

Liverpool

Liverpool Seeing Success Off Pitch Too

Liverpool made a pre-tax profit of £42million last year despite a record £223m investment on players.

While that top line is well below the record £125m profit for the year ending May 2018, the rewards are being felt on the pitch with the club four victories away from winning their first league title in 30 years.

Figures released on Thursday for the financial year to May 31, 2019 incorporate the purchases of Alisson Becker (£65million), Naby Keita (£52.75m), Fabinho (£43.7m) and Xherdan Shaqiri (£13m). Read more... (503 words, estimated 2:01 mins reading time)

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February 19, 2020March 28, 2020 David

Man City, Premier League

Manchester City CEO Says FFP Breaches ‘Simply Not True’

Manchester City’s “serious breaches” of Uefa’s club licensing and financial fair play regulations are “simply not true”, says chief executive Ferran Soriano.

On Friday, Premier League champions City were handed a two-year Champions League ban and fined 30m euros (£25m).

The decision is subject to appeal to the Court of Arbitration for Sport.

“The fans can be sure of two things. The first one is that the allegations are false,” said Soriano.

“And the second is that we will do everything that can be done to prove so.” Read more... (350 words, estimated 1:24 mins reading time)

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