Football's Magic Money Tree

[Chester Perry]

Leicester have been formally charged by the Premier League for PSR breach

from The BBC

Leicester City: Premier League charges Championship club with alleged breaches of financial rules
https://www.bbc.co.uk/sport/football/68580638

Leicester take their chutzpah and stroppiness to a new level

from The Athletic

Leicester say they have issued legal proceedings against Premier League and EFL after PSR charge
https://archive.ph/wYIfV

[Chester Perry]

Every time we see issues about competitive balance and new iterations/versions of FFP there are always a few posters who state the need for salary caps - UEFA recently came to a similar conclusion, though that has now been shutdown by the European Courts - which is hardly a surprise

from The Times

Court defeats put Uefa on the back foot over fixed salary caps
European football’s governing body shelves idea of cash limits that clubs could spend on wages
https://archive.ph/5QOSb

[ecc]

Odd that Leicester should be accused of breaching financial rules.

[ecc]

A staggering 64 clubs have gone into administration since the advent of the PL. Does anybody involved in the upper echelons of the FA, PL or whoever know or care?

From an open letter to The Guardian:

Fair Game represents 34 professional clubs in the English football pyramid. The long-awaited publication of the football governance bill is very welcome news indeed (Report, 18 March).
It is imperative that the incoming football regulator has real teeth. The number one objective of the regulator is to ensure the financial sustainability of football clubs throughout the pyramid. The status quo is simply unacceptable. Since the beginning of the Premier League, 64 clubs have gone into administration. Clubs in the Championship routinely spend more than they earn on players’ wages. And the cost of living crisis has left dozens of clubs staring into the abyss – over 50% in the top four divisions are technically insolvent.
The regulator needs to change the game’s culture, and it can only do that if it can set robust parameters around the financial flow in football. It cannot be left to the Premier League to determine the future of clubs such as Lincoln City, Carlisle and Chester. It is up to our politicians to ensure that they do not waste this once-in-a-lifetime opportunity.
Nial Couper
CEO, Fair Game UK

[Chester Perry]

Well this may come as a bit of a surprise, though as the article admits - it does not mean that the deal will be accepted - the conditions may be regarded as to much by 777 Partners, even designed to be, that would tally with my take on the situation from earlier in the week. It is just politically expedient for the Premier League to be regarded as doing something.

from Bloomberg

Miami-Based 777 Gets Conditional Approval of Everton FC Deal
https://www.bloomberg.com/news/articles ... on-fc-deal
https://archive.ph/Ql74L

here The Esk analyses just what this Bloomberg report could mean, he seems to share a similar view to myself

Bloomberg report of conditional approval for 777 Partners crystalises minds
https://theesk.org/2024/03/23/bloomberg ... ses-minds/
https://archive.ph/FF5e6

[Chester Perry]

Odd that Leicester should be accused of breaching financial rules.

Indeed, they are usually ahead of them, as the EFL found out once again in court a few weeks ago. as I have said previously, this is likely the 3rd time that the financial rules will be changed because of Leicester's actions circumventing the spirit of sporting competition.

[Chester Perry]

you may have missed it but it has been big news in Spain all week - Luis Rubiales from President of the Spanish Football Federation, disgraced for forcing himself on Spain's women's team captain at the World Cup is under serious criminal investigation. this kind of thing is so common place this century that in essence it just another week in high level sport/football administration - which is a truly sad indictment for the modern world, and even sadder is that it is far from the worst things that seem to occurr so regularly in 21st Century sport.

from The New York Times

Luis Rubiales, Former Spanish Soccer Chief, Faces Arrest
Mr. Rubiales, who resigned after kissing a player at the Women’s World Cup, is a focus of Spanish investigators looking into accusations of corruption and money laundering.
https://archive.ph/Mw66s

[Chester Perry]

It looks like UEFA have given up on trying to legislate against multi-club organisations - the lack of announcement on this reminds me of The FA giving up on Rule 34 from 1983 onwards - starting with Irving Scholars bid to launch Tottenham on the stock market - In UEFA's case it is Article 5 that will be watered down

from The Athletic

UEFA relaxes multi-club rules to allow teams owned by same group to compete in different competitions
https://archive.ph/AM6h9

[Chester Perry]

Today's Scorecard column in the Financial Times has a take on the prospective Independent Football Regulator (has IReF been discarded, it seemed so tritely perfect)

Can a watchdog fix English football?
https://archive.ph/UBv8e

Will England’s football regulator root out bad owners?
Rishi Sunak, Britain’s beleaguered prime minister, used cheesy memes to celebrate the advent of English football’s new independent regulator. The government introduced legislation to parliament this week, bringing the new body a big step closer.

The key stated aims of the imaginatively titled “Independent Football Regulator” are: “To improve financial sustainability of clubs, ensure financial resilience across the leagues and to safeguard the heritage of English football.”

But can it really do any of the above?

One area where it hopes to make an impact is through tougher tests for would-be owners and directors. A new licensing system will come in too, to help keep existing owners in check by setting minimum standards on various metrics, such as fan engagement. On paper, it all sounds good.
But in practice, the legal and regulatory experts we’ve been speaking to are unconvinced. For a case study on all these issues, you can read our deep dive into the situation at Reading FC in England’s third tier.

For one, raising the bar for new owners does nothing for those already in the game. Second, the bar might be moved higher, but it will probably equate to things such as “Is this person a convicted criminal?“, rather than “Do they know how to run a football club?”

And thirdly, circumstances change. A new owner may arrive with bulging bank accounts and the best intentions, but a downturn in their core industry — say, the Chinese property market — could quickly erode their ability to keep a club afloat.

What about rooting out “unsuitable” owners, as the legislation for the IFR has promised to do, through an ongoing licensing system? Again, it appears great in theory. But how would it really work?

Let’s say a club owner had repeatedly overspent on players, then failed to pay the bills and racked up huge amounts of debt. Would a football regulator be able to force the sale of what is a private company? Would the British government be willing to take control of a club while it searches for a buyer? And would the British taxpayer be on the hook for player wages in the meantime?

Even if the regulator was willing to step in as an owner of last resort, it could fall foul of global rules. Simon Leaf, head of sports law at Mishcon de Reya told Scoreboard: “One suspects that any such move by an independent regulator may also raise eyebrows within Fifa — particularly given the strong regulations that it has with respect to state and outside interests interfering in club affairs.”

It’s very early days for the UK government’s attempt to get a grip on football’s bad habits. Perhaps it will help nudge owners in the right direction when it comes to balancing the books.

But without a fundamental rethink of football’s basic business model, right now it is hard to see how regulation can change the score.

[South West Claret.]

Let’s hope these clubs are “rooted out” then eh.

[Chester Perry]

Today's Scorecard column in the Financial Times has a take on the prospective Independent Football Regulator (has IReF been discarded, it seemed so tritely perfect)

Can a watchdog fix English football?
https://archive.ph/UBv8e

Will England’s football regulator root out bad owners?
Rishi Sunak, Britain’s beleaguered prime minister, used cheesy memes to celebrate the advent of English football’s new independent regulator. The government introduced legislation to parliament this week, bringing the new body a big step closer.

The key stated aims of the imaginatively titled “Independent Football Regulator” are: “To improve financial sustainability of clubs, ensure financial resilience across the leagues and to safeguard the heritage of English football.”

But can it really do any of the above?

One area where it hopes to make an impact is through tougher tests for would-be owners and directors. A new licensing system will come in too, to help keep existing owners in check by setting minimum standards on various metrics, such as fan engagement. On paper, it all sounds good.
But in practice, the legal and regulatory experts we’ve been speaking to are unconvinced. For a case study on all these issues, you can read our deep dive into the situation at Reading FC in England’s third tier.

For one, raising the bar for new owners does nothing for those already in the game. Second, the bar might be moved higher, but it will probably equate to things such as “Is this person a convicted criminal?“, rather than “Do they know how to run a football club?”

And thirdly, circumstances change. A new owner may arrive with bulging bank accounts and the best intentions, but a downturn in their core industry — say, the Chinese property market — could quickly erode their ability to keep a club afloat.

What about rooting out “unsuitable” owners, as the legislation for the IFR has promised to do, through an ongoing licensing system? Again, it appears great in theory. But how would it really work?

Let’s say a club owner had repeatedly overspent on players, then failed to pay the bills and racked up huge amounts of debt. Would a football regulator be able to force the sale of what is a private company? Would the British government be willing to take control of a club while it searches for a buyer? And would the British taxpayer be on the hook for player wages in the meantime?

Even if the regulator was willing to step in as an owner of last resort, it could fall foul of global rules. Simon Leaf, head of sports law at Mishcon de Reya told Scoreboard: “One suspects that any such move by an independent regulator may also raise eyebrows within Fifa — particularly given the strong regulations that it has with respect to state and outside interests interfering in club affairs.”

It’s very early days for the UK government’s attempt to get a grip on football’s bad habits. Perhaps it will help nudge owners in the right direction when it comes to balancing the books.

But without a fundamental rethink of football’s basic business model, right now it is hard to see how regulation can change the score.

the above follows this opinion article from a few days ago

from The Financial Times

English football’s new watchdog won’t regulate clubs into the black
Regulator cannot force greater sharing of wealth between the richest clubs and the poorest
https://archive.ph/fRo3X

[Paul Waine]

A staggering 64 clubs have gone into administration since the advent of the PL. Does anybody involved in the upper echelons of the FA, PL or whoever know or care?

From an open letter to The Guardian:

Fair Game represents 34 professional clubs in the English football pyramid. The long-awaited publication of the football governance bill is very welcome news indeed (Report, 18 March).
It is imperative that the incoming football regulator has real teeth. The number one objective of the regulator is to ensure the financial sustainability of football clubs throughout the pyramid. The status quo is simply unacceptable. Since the beginning of the Premier League, 64 clubs have gone into administration. Clubs in the Championship routinely spend more than they earn on players’ wages. And the cost of living crisis has left dozens of clubs staring into the abyss – over 50% in the top four divisions are technically insolvent.
The regulator needs to change the game’s culture, and it can only do that if it can set robust parameters around the financial flow in football. It cannot be left to the Premier League to determine the future of clubs such as Lincoln City, Carlisle and Chester. It is up to our politicians to ensure that they do not waste this once-in-a-lifetime opportunity.
Nial Couper
CEO, Fair Game UK

Does Fair Game explain how these 64 clubs going into administration was caused by the Premier League? Does Fair Game not think that signing a tv deal with ITV Digital and not ensuring that ITV Digital could pay their part of the deal before all the football clubs spent the extra income they hoped they would get? How has "the cost of living" impacted clubs that pays professional footballers even in the lower divisions and non-league more than the average wage? Surely, over spending has more to do with "50% of clubs being insolvent" than the "cost of living?"

The government, whichever party, cannot do anything for of "Lincoln City, Carlisle and Chester" if the clubs themselves cannot manage their own finances. It's not for taxpayers to rescue any club and ensure well paid footballers continue to earn a lot more than they would in any other employment.

[Paul Waine]

The key stated aims of the imaginatively titled “Independent Football Regulator” are: “To improve financial sustainability of clubs, ensure financial resilience across the leagues and to safeguard the heritage of English football.”

But can it really do any of the above?

King Canute had more chance stopping the tide coming in. Why does any government want to get themselves involved with trying to make football clubs financially sustainable? Yes, yes, "community assets" and all that. But, clubs get relegated, their fans stop coming, they either cut their own costs of they bust. All governments should do is ensure that football clubs and football players all pay the taxes that are due. The rest is for the leagues they play in, the players, the fans and the owners.

[Chester Perry]

Well this may come as a bit of a surprise, though as the article admits - it does not mean that the deal will be accepted - the conditions may be regarded as to much by 777 Partners, even designed to be, that would tally with my take on the situation from earlier in the week. It is just politically expedient for the Premier League to be regarded as doing something.

from Bloomberg

Miami-Based 777 Gets Conditional Approval of Everton FC Deal
https://www.bloomberg.com/news/articles ... on-fc-deal
https://archive.ph/Ql74L

here The Esk analyses just what this Bloomberg report could mean, he seems to share a similar view to myself

Bloomberg report of conditional approval for 777 Partners crystalises minds
https://theesk.org/2024/03/23/bloomberg ... ses-minds/
https://archive.ph/FF5e6

In their 18th article on the proposed takeover of Everton by 777 Partners Philippe Auclair and Paul Brown reveal the conditions that the Premier League have set for their approval of the takeover. 777 Partners also have another new court case

from Josimar Football

Conditional access
The good news for 777 Partners is that the Premier League is finally “minded to approve” their bid to purchase Everton. The bad news is the four conditions they need to meet to make it happen.
https://josimarfootball.com/2024/03/23/ ... al-access/
https://archive.ph/452s2

[Chester Perry]

It is an issue I have been posting about for a long time and it seems it is only going to become more apparent. I am interested how proposals for 'anchoring' as part of the Premier Leagues new fiscal rules would deal with this additional income boost for Champions League clubs

from The Times

Champions League TV money boost to widen Premier League inequality
New-look competition will include 15 per cent rise in prize money for elite clubs, inflaming existing concerns over the huge financial gulf between top clubs and the chasing pack
https://archive.ph/Imaju

[Chester Perry]

I am trying to play catch up on my podcasts - Last week the Price of Football did a special podcast looking into tax in football, if you are a bit geeky about football finance, it is an interesting listen,

Interview: Football tax adviser Tony Bogod on how much clubs pay in tax
Kevin speaks to football tax adviser Tony Bogod about how much football clubs pay in tax, and whether some Premier League clubs are paying too much.

https://podcasts.apple.com/gb/podcast/t ... 1482886394

[Chester Perry]

I am trying to play catch up on my podcasts - Last week the Price of Football did a special podcast looking into tax in football, if you are a bit geeky about football finance, it is an interesting listen,

Interview: Football tax adviser Tony Bogod on how much clubs pay in tax
Kevin speaks to football tax adviser Tony Bogod about how much football clubs pay in tax, and whether some Premier League clubs are paying too much.

https://podcasts.apple.com/gb/podcast/t ... 1482886394

The above also demonstrates how Brentford have been efficient on the tax front as well as the recruiting/sales and on pitch performance.

[Chester Perry]

International breaks tend to leave content thin on the ground for the international sports media, that is why you end up getting opinion based reports like this that pose as some kind of deep analysis, when they reflect a particular moment in time and their is little parity of pricing across the leagues. Some of the positioning will no doubt surprise you

from ESPN.com

Bang-for-buck ranking: Which European teams spend smartest?
https://www.espn.co.uk/football/insider ... vs-overpay
https://archive.ph/6KZpg

[South West Claret.]

Burnley number 60.

[Chester Perry]

Sam Wallace on the hypocrisy of Leicester (and the others) fighting against FFP/PSR and other rules they voted to bring in. Sadly there is no mention of past issues with Leicester just the glory of their Premier League title and the difficulty of finding unknowns like Kante and Mahrez in the multi-club world we now seem to be trapped in.

from The Telegraph

‘Friendly Leicester’ turn after being bitten by the law – but they agreed to all this
Club voted for the rules that they are now legally challenging, knocking another lump out of the consensus that holds the game together
https://archive.ph/J9CNa

[Chester Perry]

In their 18th article on the proposed takeover of Everton by 777 Partners Philippe Auclair and Paul Brown reveal the conditions that the Premier League have set for their approval of the takeover. 777 Partners also have another new court case

from Josimar Football

Conditional access
The good news for 777 Partners is that the Premier League is finally “minded to approve” their bid to purchase Everton. The bad news is the four conditions they need to meet to make it happen.
https://josimarfootball.com/2024/03/23/ ... al-access/
https://archive.ph/452s2

The Esk with a piece to follow up the detail of those conditions outlined in Josimar, he reminds us that hey actually formed part of the conditions 6 months ago as well, it is the hard deadline that is new - though it appears that Rights and Media Funding are not pushing for their money now as they were in September.

The stark reality of the the demands the Premier League have placed on 777 Partners is huge, and because of the new leverage rules a significant portion of it has to be hard cash that has not been borrowed from a creditor,

The reality of the “conditional minded to approve” requirements
https://theesk.org/2024/03/24/the-reali ... uirements/
https://archive.ph/8CAHn

[ecc]

Does Fair Game explain how these 64 clubs going into administration was caused by the Premier League? Does Fair Game not think that signing a tv deal with ITV Digital and not ensuring that ITV Digital could pay their part of the deal before all the football clubs spent the extra income they hoped they would get? How has "the cost of living" impacted clubs that pays professional footballers even in the lower divisions and non-league more than the average wage? Surely, over spending has more to do with "50% of clubs being insolvent" than the "cost of living?"

The government, whichever party, cannot do anything for of "Lincoln City, Carlisle and Chester" if the clubs themselves cannot manage their own finances. It's not for taxpayers to rescue any club and ensure well paid footballers continue to earn a lot more than they would in any other employment.

Hi Paul,

I agree with you and Fair Game might answer those questions somewhere else.

What staggered me was the number of clubs. I think, you may well know more than I do, that some clubs have gone into administration more than once.

Just found a list and Bury and Portsmouth have done so. The list goes back to the 80s and, at a glance, doesn't seem to be made up of 64 clubs.

https://en.wikipedia.org/wiki/Administr ... _football)

Whatever. Financial mismanagement in football has existed for a long time. Stanley folded in 1962.

However, to my mind, the holy grail of the PL has been a major contributory factor in rich people wrecking football clubs.

[Chester Perry]

Sadly, this is not a surprise

Three years on, Football Index users are still trying to get their money back
Some customers had five- or six-figure sums trapped when it collapsed in 2021 and say the site was not regulated properly
https://www.theguardian.com/football/bl ... money-back
https://archive.ph/pIpqC

[Chester Perry]

A new series of five articles (over five days) looking at 'The men who want to buy English football clubs' - first up fraudster Chris Kirchner,

from The Athletic

The $25m fraudster who came so close to buying an English football club
In the first of our series about the men who want to buy English football clubs, this is the remarkable story of Chris Kirchner, who came close to taking over Derby County and was then found guilty of fraud and money laundering.

This week, we will examine five prospective investors and what their interest in English football says about their ambitions and the game itself.
https://archive.ph/U1FGF

[Chester Perry]

Interesting piece on Leicester and why they are stalling the process on their charges around breaching financial rules - features significant input from the new guy on the football finance block - Stefan Borson, who I think offers much sounder assessments than Kieran Maguire - maybe because he actually comes from a football finance background.

from The Athletic

Why Leicester are desperate not to face a PSR points deduction this season
https://archive.ph/VwnK1

[Spijed]

Bournemouth accounts:
https://twitter.com/KieranMaguire/statu ... 0118268351

[Chester Perry]

Earlier this week it transpired that Chelsea's new owners had reported the club themselves (again) for financial shenanigans under the Abramovich era - this time regarding the transfers of Willian and Samuel Eto'o (https://www.bbc.co.uk/sport/football/67270626) and a number of payments out of Russia but not registered as being from the club. It shows how little direct scrutiny there was of the Abramovich era as it marched on to some of its greatest successes. Actually a clever bit of distraction by Boehly and co as they try to meet the challenges of FFP (though the strategy of not qualifying for UEFA club competitions is making that considerably easier for them)

This lack of real scrutiny is a point Mathew Sayed picks up on in a column in today's Times and uses to illustrate what should be happening to the 'nation states - particularly Saudi Arabia as it to throughs previously unthinkable sums at sport to distract from what else it is doing

My Abramovich warning was ignored – same cannot happen with Saudi
Saudi Arabia’s sporting land grab will invite scrutiny only briefly before regime’s atrocities are ignored amid the star power of top athletes
https://archive.ph/9ggBU#selection-1785.0-1803.142

For all the self reporting that Chelsea have done (and it is a lot) it seems at some point the club are going to be given a significant penalty by the Premier League (they have already paid UEFA £8.5m fine) of course that can only happen once they have established all the charges they are going to raise.

The issue of illegal payments for the likes of Willian and others has taken an intriguing twist

from The Times

Marina Granovskaia ‘was sent details of secret transfer payments’ at Chelsea
The former Chelsea director appears to have been sent copies of agreements related to payments to offshore entities around transfers of Willian, Samuel Eto’o and Eden Hazard
https://archive.ph/vLKSI

[Chester Perry]

A new series of five articles (over five days) looking at 'The men who want to buy English football clubs' - first up fraudster Chris Kirchner,

from The Athletic

The $25m fraudster who came so close to buying an English football club
In the first of our series about the men who want to buy English football clubs, this is the remarkable story of Chris Kirchner, who came close to taking over Derby County and was then found guilty of fraud and money laundering.

This week, we will examine five prospective investors and what their interest in English football says about their ambitions and the game itself.
https://archive.ph/U1FGF

Part Two of 'The men who want to buy English football clubs' features a name familiar to this thread

from The Athletic

‘Under every rock, we found a lie’: How the bid to be English football’s first black owner unravelled
In the second of our series about the men who want to buy English football clubs, we tell the story of Dozy Mmobuosi, whose Tingo group of companies promised to bring European football to Sheffield United. It was some tale. But none of it was ever going to happen.
https://archive.ph/U7b0x

Part Three

How an F1 deal ‘unleashed the beast’: William Storey’s three failed bids to buy a football club
https://archive.ph/Kwgtf

[Chester Perry]

The hope was that the Football Governance Bill would go through the process and be approved uickly, however we keep hearing of possible amendments that are likely to be popular with certain voters in an election year, which could actually delay the process.

From The Telegraph

MPs want to force Premier League clubs to give away more money to football support system
Exclusive: An amendment to the Football Governance Bill would allow a statutory regulator to intervene and make top flight club pay
https://archive.ph/SzgfL

[Chester Perry]

The Esk with a piece to follow up the detail of those conditions outlined in Josimar, he reminds us that hey actually formed part of the conditions 6 months ago as well, it is the hard deadline that is new - though it appears that Rights and Media Funding are not pushing for their money now as they were in September.

The stark reality of the the demands the Premier League have placed on 777 Partners is huge, and because of the new leverage rules a significant portion of it has to be hard cash that has not been borrowed from a creditor,

The reality of the “conditional minded to approve” requirements
https://theesk.org/2024/03/24/the-reali ... uirements/
https://archive.ph/8CAHn

Given how much cash (not loans) 777 Partners have to find in the next few weeks to obtain Premier League approval of their proposed takeover this is something of a surprise

from The I

Everton borrow more money from 777 Partners to cover wages and stadium costs
Everton could also hear the verdict of their second alleged breach as early as next week
https://inews.co.uk/sport/football/ever ... 77-2978659
https://archive.ph/xIMBf

[Chester Perry]

Somehow I missed this when it happened last week - Ipswich town owners sell a 40% stake in the club for £105m - valuing the club at £262.5m - to an American Private Equity Group

CLUB STATEMENT | BRIGHT PATH SPORTS PARTNERS
https://www.itfc.co.uk/news/2024/march/ ... th-sports/

[Chester Perry]

Part Two of 'The men who want to buy English football clubs' features a name familiar to this thread

from The Athletic

‘Under every rock, we found a lie’: How the bid to be English football’s first black owner unravelled
In the second of our series about the men who want to buy English football clubs, we tell the story of Dozy Mmobuosi, whose Tingo group of companies promised to bring European football to Sheffield United. It was some tale. But none of it was ever going to happen.
https://archive.ph/U7b0x

Part Three

How an F1 deal ‘unleashed the beast’: William Storey’s three failed bids to buy a football club
https://archive.ph/Kwgtf

Part Four of 'The men who want to buy English football clubs'

The nobody who tried to buy Manchester United and Inter Milan
Welcome to the fourth part of our series about the men who want to buy football clubs. Here, we look at Thomas Zilliacus and his attempts to buy Manchester United and Inter Milan.
https://archive.ph/dCZsq

[Chester Perry]

I have said all along that Fan Advisory boards were a smoke and mirrors type exercise

from The Times

Premier League clubs under fire for using fan boards for own PR
Sixteen months after Fan Advisory Boards became mandatory in wake of the failure of the European Super League, there are questions about the control some top-flight clubs have
https://archive.ph/2zkaC

[roperclaret]

Given how much cash (not loans) 777 Partners have to find in the next few weeks to obtain Premier League approval of their proposed takeover this is something of a surprise

from The I

Everton borrow more money from 777 Partners to cover wages and stadium costs
Everton could also hear the verdict of their second alleged breach as early as next week
https://inews.co.uk/sport/football/ever ... 77-2978659
https://archive.ph/xIMBf

The ‘wages’ part of this seems to be being brushed over. It’s one thing not being able to afford extraordinary costs such as the stadium, but not being able to pay players is another thing altogether

[Chester Perry]

The ‘wages’ part of this seems to be being brushed over. It’s one thing not being able to afford extraordinary costs such as the stadium, but not being able to pay players is another thing altogether

You get the feeling that things are so tight that they are paying bills by priority and not running separate accounts for club costs and stadium cost - though they are two different companies - it is all very hand to mouth and I am amazed that small suppliers are still working with them, given the likelihood of invoice payments getting paid later and later

[Chester Perry]

Part Four of 'The men who want to buy English football clubs'

The nobody who tried to buy Manchester United and Inter Milan
Welcome to the fourth part of our series about the men who want to buy football clubs. Here, we look at Thomas Zilliacus and his attempts to buy Manchester United and Inter Milan.
https://archive.ph/dCZsq

Part Five of 'The men who want to buy English football clubs' asks the crucial question

from The Athletic

The men who want to buy football clubs: Why is the English game so vulnerable?
https://archive.ph/eOnU9

[Chester Perry]

Part Five of 'The men who want to buy English football clubs' asks the crucial question

from The Athletic

The men who want to buy football clubs: Why is the English game so vulnerable?
https://archive.ph/eOnU9

there is a podcast that goes with this series

Who would buy a football club in 2024?
https://podcasts.apple.com/gb/podcast/w ... 0650757534

the blurb

Most of us can only dream of owning a football club .

But for the very rich it’s an opportunity towards power, influence and… even more money

So who are the people that try to buy football clubs?

And how do football’s authorities decide who gets the green light for a takeover?

Ayo Akinwolere is joined by The Athletic's Adam Crafton & Matt Slater

[Chester Perry]

This season the Premier League had two deadlines for presenting them with last season's accounts, December 31 for those who made an aggregate loss over the previous two seasons and March 1st for everyone else - Companies House has different requirements - 9 months following the year end and there are a number of clubs who have yet to file with them

from The Guardian

Two-fifths of Premier League clubs yet to file as accounts deadline looms
Delay exposes clubs to accusations of lack of transparency at time of increased scrutiny of finances
https://www.theguardian.com/football/20 ... line-looms
https://archive.ph/4mOn7

[Chester Perry]

Villa agree a new shirt sponsor deal for the next two seasons - the last allowing Vetting sponsors, I would think that £20m a year represents a significant uplift from their current deal, my guess is between 80% and 100%

from The Telegraph

Aston Villa agree £40m shirt sponsorship deal with Greek online betting firm
Exclusive: With the club keen to continue their push for Champions League football, boosting commercial revenues has become a priority
https://archive.ph/KPOyI

so what could be done with football's conflicting relationship with the betting industry, while also help the finances of the smaller less wealthy clubs trying to make ends meet - in essence thisis the recycling of an old idea slightly dressed up in new clothing

from The Telegraph


Football’s token gesture on gambling will only damage smaller clubs
Impending ban on bookmakers sponsoring shirts will do little to stop problem gambling while cutting off an income stream for small clubs
https://archive.ph/pqjGc

from

[Chester Perry]

talking of regurgitation, how about this from The Times it is like the La Liga/Relebant case to allow La Liga games in the US never happened, though there are still more hearings/legal arguments for that, the FIFA hurdle has so far proved effective though I am sure someone could come up with the money to make them aquiesce

Premier League games in US? It’ll happen in ten years, says expert
One of the biggest powerbrokers in world sport has predicted that competitive football matches between English clubs will be played across the Atlantic soon
https://archive.ph/NuUyU

[Chester Perry]

hmmm - are these the words of desperation or delusion?

from The Guardian

Farhad Moshiri assures Everton fans that 777 takeover is in “home straight”
777 Partners chief Josh Wander also remains upbeat over deal
Both were replying to letters from Everton supporters’ group
https://www.theguardian.com/football/20 ... e-straight
https://archive.ph/wTkIT

[Chester Perry]

The Esk with a piece to follow up the detail of those conditions outlined in Josimar, he reminds us that hey actually formed part of the conditions 6 months ago as well, it is the hard deadline that is new - though it appears that Rights and Media Funding are not pushing for their money now as they were in September.

The stark reality of the the demands the Premier League have placed on 777 Partners is huge, and because of the new leverage rules a significant portion of it has to be hard cash that has not been borrowed from a creditor,

The reality of the “conditional minded to approve” requirements
https://theesk.org/2024/03/24/the-reali ... uirements/
https://archive.ph/8CAHn

The Esk has discovered why one of the conditions presented by The Premier League exists - it did cross my mind as strange that MSP has to be paid off fully by mid April

Moshiri is about to lose control of Everton – the question is to whom?
https://theesk.org/2024/03/30/moshiri-i ... s-to-whom/
https://archive.ph/GxKvr

[Chester Perry]

this is a tale of what most - not all - aspirant multi-club organisations are looking to achieve, including ALK/VSL the owners of Burnley FC. Actually achieving it is a different matter altogether

from The Independent

How Brighton’s sister club turned into the ‘cheat code’ of European football
Les Unionistes look to win their first Belgian title since 1935 with a unique set-up, aided by Brighton in the Premier League
https://www.independent.co.uk/sport/foo ... 19583.html
https://archive.ph/xTOy0

[Chester Perry]

Everton release their 2022/23 accounts - the ones that they received their second PSR charge for (the hearing was heard last week and we may have the judgement in the next few days

https://resources.evertonfc.com/everton ... s-2023.pdf

I haven't looked at them yet, but this article from The Liverpool Echo has a dramatic title

Everton losses double in latest accounts as 'going concern' threat confirmed
Everton released their accounts on Easter Sunday, with an underlying loss of just over £89m confirmed after the club lost key sponsorship deals with Russia-linked companies
https://www.liverpoolecho.co.uk/sport/f ... s-28916407
https://archive.ph/o5hNZ

[Chester Perry]

The Esk has discovered why one of the conditions presented by The Premier League exists - it did cross my mind as strange that MSP has to be paid off fully by mid April

Moshiri is about to lose control of Everton – the question is to whom?
https://theesk.org/2024/03/30/moshiri-i ... s-to-whom/
https://archive.ph/GxKvr

So 777 Partners have around 2 weeks to find nigh on £200m of their own cash (which could be loans to them personally, but not borrowings against any of the business assets of 777 Partners or Everton, though the takeover will require quite a bit of those too) to complete the takeover of Everton, but it seems that the demands of regulators in certain US States are going to make it even harder to achieve than before and that appeared virtually impossivle

from The Financial Times

US regulators push insurers to cut exposure to Everton bidder 777 Partners
Potential for forced sales arises after Miami firm comes under scrutiny over football investments
https://archive.ph/gcw04

[Chester Perry]

The best report I have seen on Everton's 2022/23 financial results

from The Athletic

Everton’s financial plight laid bare as club reports £89.1m loss in latest accounts
https://archive.ph/xZ1YA

[Chester Perry]

the Athletic attempts to explain the summer accounting year deadline and it affect on the transfer market as PSR bites

What Premier League money rules and points deductions mean for the transfer market
https://archive.ph/sTe4T

[Chester Perry]

It never rains but it pours on the business side of Italian football - though both sides of this deal are American, of course Elliot had problems with their interest in Lille and their arguments with Gérard López, not to mention they were very noisy in offering finance to anybody who wanted to buy Manchester United - which is how they ended up owning AC Milan and a significant portion of Lille.

from The Financial Times

Police raid AC Milan headquarters in probe over sale of football club
Investigation into potential irregularities over 2022 deal between Elliott Management and private equity group RedBird
https://archive.ph/6t1kq

More detail on this from The Financial Times - these finance bros do like to argue with each other and litigate

Why hedge fund Elliott is locked in a bitter legal fight over AC Milan
US firm is battling former Italian partners, prosecutors and police over €1.2bn sale of football club in 2022
https://archive.ph/FVcVv

[Chester Perry]

The best report I have seen on Everton's 2022/23 financial results

from The Athletic

Everton’s financial plight laid bare as club reports £89.1m loss in latest accounts
https://archive.ph/xZ1YA

The Esk takes his turn with the Everton accounts - which will be covered in two parts

Part 1 is here

Part I – Everton Football Club Company Limited Annual Report and Accounts 2022/23
https://theesk.org/2024/04/01/part-i-ev ... s-2022-23/
https://archive.ph/JxV9C

[Chester Perry]

Tottenham Hotspurs new stadium has ensured them a place in the game's financial elite )some of the revenue numbers are mind boggling - they make more profit (after costs) from non football events than our club makes in total match and non- match day revenues (before costs). In fact they make more money just from matchday food and drink sales than our club does from all it's commercial, retail, catering and matchday revenues, it is actually more than they use to make from total matchday revenues at the old White Hart Lane. There are still more things that they want to so and money they want to make from the stadium, but it is starting to have an effect on it's traditional supporter base.

From The Athletic

Beyonce, NFL and boxing help make Tottenham Hotspur Stadium a cash machine
https://archive.ph/h4r7d