Finances

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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February 16, 2020March 28, 2020 David

Arsenal, Premier League

Arteta On Newcastle Win And City Ban

Mikel Arteta picked out three Arsenal stars who impressed in their 4-0 victory over Newcastle at the Emirates stadium.

Newcastle edged a first half in which Arsenal failed to get going, but the Gunners were a completely different team after the break, as Mesut Ozil started to find more space to cause the visitors problems, and youngster Bukayo Saka superb throughout.

Pierre-Emerick Aubameyang opened the scoring with a fine header, Nicolas Pepe turned in a Saka cutback before Ozil and Lacazette ended their respective goal droughts to finish off a fine second-half display.

Arteta told BBC Sport: Read more... (316 words, estimated 1:16 mins reading time)

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February 15, 2020March 28, 2020 David

Champions League, Man City

Manchester City Given Two Year Champions League Ban

Manchester City were on Friday night banned from the Champions League for the next two seasons for ‘serious breaches’ of UEFA’s financial fair play regulations.

The Champions League ban has been rumored to be happing for months, but the announcement still sent shockwaves through football and may now see questions raised over their domestic success.

The reigning English champions were found to have circumvented FFP rules between 2012 and 2016 and have been fined €30 million.

City’s problems are not just with the UEFA. Serious questions will asked by the Premier League, with a points deduction plus removal of City’s titles in 2012 and 2014 all possible outcomes. Read more... (476 words, estimated 1:54 mins reading time)

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