Finances

May 23, 2020May 24, 2020 David

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)

Leave a comment

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)

Leave a comment

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)

Leave a comment

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)

Leave a comment

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)

Leave a comment

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)

Leave a comment

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)

Leave a comment

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)

Leave a comment

January 15, 2020March 28, 2020 David

Juventus

Juventus in FFP danger

According to RMC Sport, Juventus are at risk of breaching Financial Fair Play parameters, as their payroll to total revenue ratio is at 71 per cent.

The calculations were made based on a leaked copy of the KPMG financial report on the eight major European league champions, showing Juve are the only ones running at a loss.

The report also suggests “the net results for the 2019-20 season will also be revised negatively.”

It is claimed the biggest problem is the breach of FFP parameters, as clubs need to keep their total payroll to revenue ratio at under 70 per cent, whereas Juve currently stand at 71 per cent. Read more... (269 words, estimated 1:05 mins reading time)

Leave a comment

December 23, 2019December 23, 2019 David

Arsenal, Chelsea, Liverpool, Man City, Man Utd., Premier League

Chelsea Close In On Jadon Sancho

Chelsea are looking to beat both Manchester United and Liverpool in the race to sign Borussia Dortmund star Jadon Sancho, according to reports.

The England international, rated at £120million, is currently a man in huge demand after shining in Germany with Dortmund and a return to the Premier League could very soon be on the cards.

According to media reports, Chelsea are now working on a deal which could see them fork out a club-record fee for one of the world’s biggest talents.

The Blues have reportedly emerged as the most likely destination for the 19-year-old winger after indicating they will match Dortmund’s big-money valuation. Read more... (262 words, estimated 1:03 mins reading time)

Leave a comment