Football's Magic Money Tree

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Chester Perry
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Re: Football's Magic Money Tree

Post by Chester Perry » Wed Oct 12, 2022 11:18 pm

to be filed under 'Strange Report' for now, but worth noting and watching - from the Guardian

Everton auditor considers walking away, raising questions over club’s financing
BDO understood to have told club it won’t do work on its accounts, which sources say is related to Farhad Moshiri’s ownership

https://www.theguardian.com/football/20 ... -financing

The first 20 mins of the latest podcast from The Esk is probably the best discussion of the potential issues

https://theesk.org/2022/10/12/talking-t ... -united-h/

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Re: Football's Magic Money Tree

Post by Chester Perry » Wed Oct 12, 2022 11:32 pm

Javier Tebas (La Liga President) and his ongoing feud with Nasser Al Khelaifi (President of BEinMedia, PSG and the ECA, and Executive Council member of UEFA) has taken a dramatic turn - From the New York Tomes courtesy of Tariq Panja

La Liga Chief’s Feud With P.S.G. President Veers Into Court
A multimillion-dollar dispute between the Spanish league and its Qatari broadcast partner, beIN Media Group, is the latest flare-up in the battle between two of the most powerful men in soccer.

https://archive.ph/W4rMb

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 11:17 am

This should be interesting, Richard Scudamore gives a very rare interview to Matt Slater at the Athletic - Article and podcast

Former Premier League boss Richard Scudamore on foreign owners, the ESL’s future, and fan power
https://archive.ph/CaMJk

Podcast
https://podcasts.apple.com/gb/podcast/e ... 0582487070

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Re: Football's Magic Money Tree

Post by ClaretPete001 » Thu Oct 13, 2022 11:27 am

Chester Perry wrote:
Thu Oct 13, 2022 11:17 am
This should be interesting, Richard Scudamore gives a very rare interview to Matt Slater at the Athletic - Article and podcast

Former Premier League boss Richard Scudamore on foreign owners, the ESL’s future, and fan power
https://archive.ph/CaMJk

Podcast
https://podcasts.apple.com/gb/podcast/e ... 0582487070
I just think that is a pitiful interview by someone who seems to be blind to any of the failing of the PL. The virtue signalling comment below is symptomatic of those who pursue objectives to the detriment of the thing they purport to be safeguarding and you wonder what percentage of PL spend is on community causes:

Scudamore: No, no, no, there’s a difference between having an opinion and what gets achieved. The altruism comes in when collectively the Premier League decides to do x or the Football League decides to do y — all the good stuff the Premier League does in the community or for social causes. There is a collective understanding that you have to do good things.

The comments about not being blind sided by the ESL and the fact the idea was slammed despite the persistent attempts by the PLs leading players is naive.

Nothing happens till it does and when the richest and most powerful are agitating in a direction the PL doesn't want then it's only a matter of time.

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 11:39 am

ClaretPete001 wrote:
Thu Oct 13, 2022 11:27 am
I just think that is a pitiful interview by someone who seems to be blind to any of the failing of the PL. The virtue signalling comment below is symptomatic of those who pursue objectives to the detriment of the thing they purport to be safeguarding and you wonder what percentage of PL spend is on community causes:

Scudamore: No, no, no, there’s a difference between having an opinion and what gets achieved. The altruism comes in when collectively the Premier League decides to do x or the Football League decides to do y — all the good stuff the Premier League does in the community or for social causes. There is a collective understanding that you have to do good things.

The comments about not being blind sided by the ESL and the fact the idea was slammed despite the persistent attempts by the PLs leading players is naive.

Nothing happens till it does and when the richest and most powerful are agitating in a direction the PL doesn't want then it's only a matter of time.
Isn't he still on a retainer - £500k a year I seem to be remember
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Chester Perry
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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 11:45 am

Chester Perry wrote:
Wed Sep 28, 2022 4:52 pm
At least someone in the sports/football market-place is trying to make a stand (though they may actual do rather well out of it

Hummel remove their logo from all Danish kit to be used at the Qatar world cup because they do not want to be associated with it, but do want to support the Danish national team

https://twitter.com/Prof_Chadwick/statu ... WJgNwrAAAA
A subtle retort in Copenhagen this week

https://twitter.com/Prof_Chadwick/statu ... P-ie8rAAAA

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 12:41 pm

I am finding it fascinating that the club are involved with this Sorare 2nd Division and there is absolutely no discussion on this board about it apart from a single reference on the crypto thread that our resident Sorare champion should be pleased

‘Second Division’ Sorare – Championship clubs announce NFT partnerships
https://archive.ph/BFEbM

It has been over a week now since the club made the announcement

CLARETS PARTNER WITH SORARE
https://www.burnleyfootballclub.com/con ... ith-sorare

Is this part of the no negative comments about the new regime omerta that some appear to want on (and enforce) on the board or are people just hoping it will go away

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 12:59 pm

Chester Perry wrote:
Thu Oct 13, 2022 12:41 pm
I am finding it fascinating that the club are involved with this Sorare 2nd Division and there is absolutely no discussion on this board about it apart from a single reference on the crypto thread that our resident Sorare champion should be pleased

‘Second Division’ Sorare – Championship clubs announce NFT partnerships
https://archive.ph/BFEbM

It has been over a week now since the club made the announcement

CLARETS PARTNER WITH SORARE
https://www.burnleyfootballclub.com/con ... ith-sorare

Is this part of the no negative comments about the new regime omerta that some appear to want on (and enforce) on the board or are people just hoping it will go away
Today's Price of Football podcast talks about this as it's 1st Agenda Item
https://play.acast.com/s/priceoffootbal ... c180f931d5

The journalist/author with the best understanding (and deepest research) into this and all other crypto in sport, particularly football had this to say

https://twitter.com/uglygame/status/1577623790732853248

he has long been critical of Sorare

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Re: Football's Magic Money Tree

Post by rufus lumley » Thu Oct 13, 2022 4:04 pm

If I could understand what SORARE is and what it does I might be able to get angry about it.In the mean time I will carry on been angry about the so called mini budget and what it has done to my pension pot.

aggi
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Re: Football's Magic Money Tree

Post by aggi » Thu Oct 13, 2022 4:46 pm

Chester Perry wrote:
Thu Oct 13, 2022 12:41 pm
I am finding it fascinating that the club are involved with this Sorare 2nd Division and there is absolutely no discussion on this board about it apart from a single reference on the crypto thread that our resident Sorare champion should be pleased

‘Second Division’ Sorare – Championship clubs announce NFT partnerships
https://archive.ph/BFEbM

It has been over a week now since the club made the announcement

CLARETS PARTNER WITH SORARE
https://www.burnleyfootballclub.com/con ... ith-sorare

Is this part of the no negative comments about the new regime omerta that some appear to want on (and enforce) on the board or are people just hoping it will go away
Ha, that's the first thing I thought of when I saw the news.

I don't think Sorare is as bad as some other form of crypto/NFT partnership.

The game is there and the technology enables it. Obviously there is the risk that the game will be withdrawn/lose popularity/change rules and the spending on the cards will be lost but this risk exists in quite a few fields nowadays.

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Re: Football's Magic Money Tree

Post by aggi » Thu Oct 13, 2022 4:55 pm

Chester Perry wrote:
Wed Oct 12, 2022 11:18 pm
to be filed under 'Strange Report' for now, but worth noting and watching - from the Guardian

Everton auditor considers walking away, raising questions over club’s financing
BDO understood to have told club it won’t do work on its accounts, which sources say is related to Farhad Moshiri’s ownership

https://www.theguardian.com/football/20 ... -financing

The first 20 mins of the latest podcast from The Esk is probably the best discussion of the potential issues

https://theesk.org/2022/10/12/talking-t ... -united-h/
I saw this. Could be interesting depending what has prompted it but the timeline doesn't seem too desperate yet. The new auditors would normally contact the prior ones to ask if there was a reason not to take it on.

My first thought is that maybe it's to do with Usmanov. Most auditors (I know we have) have been taking a better safe than sorry approach when it comes to sanctioned individuals. Or there may be disputes in cost and revenue recognition giving FFP issues. Both are obviously just speculation.

Chester Perry
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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 5:18 pm

Forbes.com doing what Forbes do

The World’s Highest-Paid Soccer Players 2022: Kylian Mbappé Claims No. 1 As Erling Haaland Debuts
https://www.forbes.com/sites/justinbirn ... 5e91edc1c1

you have to say for all the income he generates, Mbappe appears unhappy at his club and unloved by his team mates if current reports are anything to go by

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 13, 2022 9:23 pm

One of the most explicit articles you will read as to why American Investment houses are investing in sport, the problem as the chaps at Vysyble point out - 'football doesn't do 'profit' very well at all...'

https://twitter.com/vysyble

https://sports.yahoo.com/wall-street-de ... 00293.html

Wall Street Will Demand More Results as Sports Relies on Its Money
Brendan Coffey
Thu, October 13, 2022 at 10:55 AM·6 min read

Today’s guest columnist is Sportico sports finance reporter Brendan Coffey.

It’s not news to people in the industry that institutional asset managers are flocking to invest in teams, but it’s worth noting the amount of money flowing toward franchises and related business has increased noticeably this year.

In recent months Gerry Cardinale’s RedBird Capital has started raising a new $2.6 billion fund, Arctos Sports Partners is collecting $2.5 billion for its new second fund and private equity behemoth Ares Management just closed on an oversubscribed $2 billion sports-focused fund.

The list goes on: Dyal Homecourt still intends to raise $2 billion to invest in NBA limited partner stakes, while the percentage of assets devoted to sports keeps increasing at asset giants Silver Lake Technologies, Sixth Street and CVC Partners. Then there is the gaggle of new sports tech and betting-focused funds launched by everyone from well-known industry executives to colleges to marketing firms.

In short, despite the turbulent markets, these are good times for sports businesses seeking capital, as attendees are sure to see at Sportico’s Invest in Sports conference next week.

The force behind this “is the change of consumer behavior that really drives the behavior of every advertiser on the planet, and that is cord-cutting,” said Christopher Zook, the CEO of CAZ Investments, a $4 billion asset manager.

Zook has spent 20 years pursuing thematic investments, such as shorting subprime mortgages ahead of the Great Recession and getting in early on the oil and gas fracking boom. His latest theme is sports. Zook has “several hundred million dollars” in the strategy now, with direct investments in esports and sports, and a large chunk in pro teams invested through Arctos. “How do advertisers reach the people they want to market to? The answer is they really have to focus on live events, because that’s the only time people will actually let a commercial go by and watch it,” he said.

Sports gambling’s expansion adds to the growth equation, while inflation only makes sports more attractive for investors, since teams have leverage to pass higher prices along to fans at the park, Zook says. Team land holdings help, too, he notes, since real estate is a traditional inflation hedge.

No doubt the major teams and leagues are in the driver’s seat for raising capital. Sports’ long-term value growth plus its low correlation with other asset classes ticks two big boxes for the CFA crowd. But with big money comes—well, maybe not huge risk—but risk nonetheless.

The first is that Wall Street managers aren’t like Green Bay Packers cheeseheads buying a share to hang in a frame: They demand results. Historically, teams provided attractive gains. From 1996 to 2021, values grew 1,118% for NHL teams, 1,560% for MLB, 1,850% for NBA and 1,890% for NFL franchises, according to Sportico data. But that isn’t as spectacular as you might think: The total return (price plus dividends) of the S&P 500 was 1,260% in that time. Expectations are that sport owners will do what it takes to keep providing growth of a similar trajectory.

“We are expecting two-and-a-half times multiples on our money and a 20% IRR [internal rate of return], otherwise we really wouldn’t be interested in this space,” said Zook. And CAZ’s expectations aren’t unusual compared with other managers.

While that’s below the rate of the past 25 years, it’s still a bar that teams and leagues need to hit in the timeframe of most institutional money—three, five or seven years. Ares invests primarily by giving loans and financing debt—which is less risky than equity and thus fosters lower expectations for returns. The firm has averaged a 12% IRR on all of its funds in its history, according to an investor presentation deck reviewed by Sportico last year. That’s at least the baseline expectation for its sport fund, given the rising interest rate environment means risk-free debt—U.S. Treasuries—will pay more in yield going forward.

Eventually, the more teams rely on institutional money for continued liquidity, the more the balance of power will even out, according to Zook. “There will be some pressure to distribute, probably in the form of dividend recaps,” he said, referring to the strategy of entities taking a loan to pay special dividends to shareholders, much like MSG Sports’ recent declaration. “When rates go back down again in two or three years, it would not surprise me at all to see someone do an LTV [loan-to-value] of 10%… to where your return on equity becomes a little bit higher.”

Drawing capital from a business to pay dividends is fairly standard practice, but in sports it comes with risk. Ask Manchester United’s Glazers.

Plus, as the investor universe expands, the money becomes more finicky. Endowments and pension funds may be fine committing 10 years to an investment, but the high-net-worth individuals, family offices and financial advisors that comprise a growing cohort of sports-focused funds’ investors are more likely to cash out if team values stagnate or decline more than a blip.

So expect institutional money to agitate not just for payouts, but more aggressive growth: buying other teams, forcing media right fees higher and inventing revenue streams that don’t exist. How is that best done? Think platforms.

To CAZ’s Zook, Fenway Sports group is “the epitome of a platform in sports right now,” with its holding of multiple teams—Red Sox, Penguins, Liverpool FC, RFK Racing—plus content ventures. The Chicago Cubs with their real estate projects and the Sacramento Kings’ recent purchase of the minor league baseball Sacramento River Cats are two other examples. “The more of a monopoly that exists in the local market, the better it is for the local team,” Zook said.

The main long-term risk Zook sees to the platform strategy is, so far, a remote one: The technology giants figure out a way to get marketers to reach the same audiences as effectively without live sports.

In the near term, Zook says the biggest risk for sports investing is too much of a good thing. “If there becomes too much money chasing too few opportunities, then prices become silly. That’s always bad for an investor.”

The truth may be the industry sits far from “silly” levels right now. But the money being raised this year by Arctos, Ares and RedBird alone? According to PitchBook data, it’s more than three times what was invested in sports in 2021.

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Re: Football's Magic Money Tree

Post by Chester Perry » Fri Oct 14, 2022 11:37 am

As a follow on to the last post this seems appropriate and will make a lot of people sit up - what is missing is an expected time frame in which to achieve these results - from the Athletic

Chelsea has the opportunity to double its revenue says Clearlake Capital’s Jose E. Feliciano
https://theathletic.com/3690299/2022/10 ... feliciano/

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Re: Football's Magic Money Tree

Post by Chester Perry » Fri Oct 14, 2022 11:45 am

Now this would be a major about turn after the years of Saudi pirate BeoutQ

Qatari Broadcaster BeIn Draws Interest From Saudis and US, Sources Say
Wealth fund PIF, US buyout firms signal interest in BeIn
BeIn says company considering a number of strategic options

https://twitter.com/middleeast/status/1 ... 4726459392

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Re: Football's Magic Money Tree

Post by Chester Perry » Fri Oct 14, 2022 11:54 am

Chester Perry wrote:
Fri Oct 07, 2022 12:29 pm
And on the subject of American investment in European Football we have this interesting snippet in Miguel Delaney;s 'Reading the Game' Newsletter this week - note there has been some investigative work going on and that there is to be a series of articles on the ESL soon in the Independent

Perez's big statement has one curious passage

The new movements behind a European Super League will be dealt with in more detail by the Independent over the next few weeks but, for the moment, it’s worth picking up on one thing Florentino Perez said in his latest speech relaunching the project. It perhaps speaks to his mindset. The Real Madrid president came out with the following. “Football used to be the top sport; now it has been widely overtaken by American sport.” That will come as a surprise to… virtually every US investor. The truth is that there is something of a gold rush right now, with consortiums and billionaires from across the Atlantic almost falling over themselves to buy European clubs or set up multi-club projects. They have realised that football is not just the most popular sport in the world, but may be the most powerful cultural force the world has ever seen, in the sense of how many borders it crosses. It may be more popular than Elvis or the Beatles in that regard. That is being reflected in the number of US ownerships or attempted buy-outs. It is widely expected that both the Premier League and Serie A will have US owners as considerable majorities in the next few years. They feel it is still a sport rife with potential.
Here is the first of the promised features from Miguel Delaney in the Independent, remember earlier this week Richard Scudamore said it was impossible for English Teams to be part of the Super League

European football’s earthquake is coming - what will it look like after?
A power battle at the very top of the game could soon come to a head with potentially massive repercussions for the whole sport

https://12ft.io/proxy?q=https%3A%2F%2Fw ... 02013.html

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Re: Football's Magic Money Tree

Post by Chester Perry » Fri Oct 14, 2022 9:51 pm

Chester Perry wrote:
Sun Oct 09, 2022 10:19 pm
You are going to see many reports like this tomorrow - from the Times, link to an archive copy to avoid the Paywall

Super League will save football from ‘financial doping’, says Barcelona president Joan Laporta
https://archive.ph/pJbcl

some interesting stuff to contend with here including this as noted by Simon Chadwick

Just to be clear: gas & oil money from the Gulf is the poison and US private equity is the remedy…

…if this is what the debate is now all about, then European football has lost itself completely

https://twitter.com/Prof_Chadwick/statu ... yqhuorAAAA


of course, who could forget this deal signed by Joan Laporta

Barcelona agree €150m shirt sponsor deal with Qatar Foundation
Qatar Foundation to feature alongside Unicef on Barça shirt
Deal is first paid-for shirt sponsorship in club's history

https://www.theguardian.com/football/20 ... foundation
The Athletic on why Barcelona's financial gamble to be to be competitive this season looks like coming to hit them in the face after Champions League woes

Barcelona’s financial mess: Champions League exit, more levers, Coutinho debt
https://archive.ph/mdOGx

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Re: Football's Magic Money Tree

Post by Chester Perry » Fri Oct 14, 2022 10:03 pm

This could get tasty - from the Guardian

Premier League is asked if it has investigated Manchester City owner over Russia allegations
Exclusive: UK lawyers acting for Ukrainian activist press football bodies on whether Sheikh Mansour ‘remains a person suitable to be an owner of a club’

https://www.theguardian.com/football/20 ... llegations

particularly if you consider that Saudia Arabia has spent recent months getting ever closer to Russia

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Re: Football's Magic Money Tree

Post by Chester Perry » Sat Oct 15, 2022 11:11 pm

Chester Perry wrote:
Fri Oct 14, 2022 10:03 pm
This could get tasty - from the Guardian

Premier League is asked if it has investigated Manchester City owner over Russia allegations
Exclusive: UK lawyers acting for Ukrainian activist press football bodies on whether Sheikh Mansour ‘remains a person suitable to be an owner of a club’

https://www.theguardian.com/football/20 ... llegations

particularly if you consider that Saudia Arabia has spent recent months getting ever closer to Russia
Bur then of course The Preier League has its own long running (seemingly endless) investigation in Manchester City - it started over 3 years ago now, fortunately no statute of limitations in the PL regulations. Which may have helped with Jurgen Klopp's rant this week ahead of the Manchester City match

but as Tariq Panja points out, while he may have a point until the game has regulating bodies competent enough to enforce their own regulations, life won't be easy - just look at what financial results PSG are thought to be postin for last season and then remember how they have got past such complications previously and of course the poistions of influence the PSG President now occupies

https://twitter.com/tariqpanja/status/1 ... 5065394178

Then compare and contrast with the level of medial control Qatar are looking to employ at the forthcoming world cup

Qatar World Cup accused of imposing ‘chilling’ restrictions on media
Conditions restrict where international broadcasters, including BBC and ITV, are permitted to film

https://www.theguardian.com/football/20 ... strictions

and you would expect the Qatari authorities to enforce their regulations vigorously

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Re: Football's Magic Money Tree

Post by Chester Perry » Sat Oct 15, 2022 11:13 pm

Chester Perry wrote:
Fri Oct 14, 2022 11:45 am
Now this would be a major about turn after the years of Saudi pirate BeoutQ

Qatari Broadcaster BeIn Draws Interest From Saudis and US, Sources Say
Wealth fund PIF, US buyout firms signal interest in BeIn
BeIn says company considering a number of strategic options

https://twitter.com/middleeast/status/1 ... 4726459392
Matt Slater in the Athletic with more on this story

Saudi deal to buy Qatar’s beIN and what it could mean for PSG, Newcastle and football
https://archive.ph/ilt0D#selection-311.83-311.85

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Re: Football's Magic Money Tree

Post by Chester Perry » Sun Oct 16, 2022 10:12 am

I have been saying this for years and there is nothing a domestic independent regulator can do about it. Seems designed to kill the power of the Premier League - Sam Wallace in the Telegraph, link bypasses the paywall

Expanded Uefa competitions could create two-tier Premier League
Drastically increased revenues threaten to dislocate domestic leagues and entrench the advantages of a gilded elite still further

https://12ft.io/proxy?q=https%3A%2F%2Fw ... -league%2F

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Re: Football's Magic Money Tree

Post by Chester Perry » Sun Oct 16, 2022 1:08 pm

Chester Perry wrote:
Fri Oct 14, 2022 11:37 am
As a follow on to the last post this seems appropriate and will make a lot of people sit up - what is missing is an expected time frame in which to achieve these results - from the Athletic

Chelsea has the opportunity to double its revenue says Clearlake Capital’s Jose E. Feliciano
https://theathletic.com/3690299/2022/10 ... feliciano/
Chelsea may have the ambition, but it will not be that straightforward to achieve unless they start pricing like they do in the US - and most would say it is already very expensive at Stamford Bridge -it will require an awful lot of investment to get those returns. Though I will say that I am always amazed that these articles never look at just how good Bayern Munich are on the Commercial revenue side - nobody has done it better in football over the last few years

Can Chelsea really hope to get to £1billion in revenue?
https://archive.ph/DcSFr

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Re: Football's Magic Money Tree

Post by Chester Perry » Sun Oct 16, 2022 1:29 pm

Most in Europe have never liked the idea of 3rd party ownership of players (though most seem ok with/oblivious of it in Boxing for some reason) Here the New York Times has a sorry tale of perhaps the biggest star in the game to fall under this kind of operation - nothing unusual for Brazil. But what happens if the owner has not been paid or feels cheated

The Man Who Bet on Neymar Wants His Money
A Brazilian supermarket magnate saw promise in the soccer star long before he became a household name. Now, believing he was cheated, he’s going to court for the payday that never arrived.

https://archive.ph/750qT

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Re: Football's Magic Money Tree

Post by Chester Perry » Sun Oct 16, 2022 10:22 pm

Interesting stuff from @CIESsportsIntel

over half of the 92 are now majority controlled by non-British interests

More than half (52%) of the 92 clubs competing in England's professional leagues are controlled by foreign investors. Nearly a quarter (23%) are in American hands. Overall, majority owners represent a total of 22 different nationalities

Image

https://twitter.com/CIESsportsintel/sta ... 2383298560

Chester Perry
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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 12:30 pm

As we know there are three clubs holding out on the Super League - Real Madrid and Barcelona recently reported on their financials for the 2021/22 season and argued passionately that the Super League was required to save football - this being because they considered themselves as football (they are gracious enough to include a few others as being football too - at least enough to form a league, who knows they may even condescend to a second division of Super League. The third of the rebellious triumvirate recently reported another huge loss (a new Serie A record), even after another round of capital financing by the owners, @SwissRamble investigates here

https://threadreaderapp.com/thread/1581 ... 73312.html

Earlier this month Juventus President Andrea Agnelli wrote a letter to shareholders - As we saw throughout his tenure as ECA President he has a very blinkered view of the football world, it would be much better if he got his own house and team in order (they are struggling again)

Agnelli, letter to Juve shareholders: “Let’s play to win everything, starting this season”
https://pledgetimes.com/agnelli-letter- ... is-season/

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Re: Football's Magic Money Tree

Post by aggi » Mon Oct 17, 2022 1:54 pm

Jeez, Norwich with wages of £118m last year! Managed to make a loss despite bumper revenue

Image

Makes me wonder if we haven't underestimated our spend from last year.

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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 2:01 pm

aggi wrote:
Mon Oct 17, 2022 1:54 pm
Jeez, Norwich with wages of £118m last year! Managed to make a loss despite bumper revenue

Image

Makes me wonder if we haven't underestimated our spend from last year.
Wowzers, and for a period of just 11 months - have they paid Farke and his team off in full

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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 2:03 pm

I should say I think ours will be £80 - £90m + the Dyche sacking costs

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Re: Football's Magic Money Tree

Post by aggi » Mon Oct 17, 2022 2:14 pm

Chester Perry wrote:
Mon Oct 17, 2022 2:01 pm
Wowzers, and for a period of just 11 months - have they paid Farke and his team off in full
The previous set of accounts was 11 months. 21/22 is 12 months.

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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 2:28 pm

There are sum absolutely nuts numbers in those results

Kieran Maguire has had a run through

https://twitter.com/KieranMaguire/statu ... 8381127686

the two that stand out for me are

Norwich wages were £88 for every £100 of income. Add in transfer fee amortisation costs and the total comes to £135 spent on players for every £100 of income. Average weekly wage of £45k highest in club history

and

Image

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Re: Football's Magic Money Tree

Post by GodIsADeeJay81 » Mon Oct 17, 2022 2:49 pm

That sounds like a financial disaster....
Didn't think they'd be like that.

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Re: Football's Magic Money Tree

Post by RVclaret » Mon Oct 17, 2022 2:52 pm

118m is pretty mental and such a significant jump from their previous PL season. Wonder how they even managed that. Does make you think how much they’ve saved on wage cuts this season to be able to basically retain the entire team.

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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 3:00 pm

GodIsADeeJay81 wrote:
Mon Oct 17, 2022 2:49 pm
That sounds like a financial disaster....
Didn't think they'd be like that.
It marks a very different strategy from what went immediately before - more like what got them into their previous mess - that loss of financial discipline may be a result of wanting to end the yo-yo but it could happen in the way they do not want as a result

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Re: Football's Magic Money Tree

Post by aggi » Mon Oct 17, 2022 3:05 pm

Chester Perry wrote:
Mon Oct 17, 2022 2:28 pm
There are sum absolutely nuts numbers in those results

...

Image
On the contingent liabilities, I suspect that the things that would trigger them would probably drive enough revenue to make it worth them.

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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 3:12 pm

aggi wrote:
Mon Oct 17, 2022 3:05 pm
On the contingent liabilities, I suspect that the things that would trigger them would probably drive enough revenue to make it worth them.
absolutely - but don't think we have ever had a sum like that even when adding outstanding transfer payments

I will say that under the new owners and their approach to recruitment this is area that I expect them to try and exploit in the transfer market, but one that I also think many clubs at home and abroad are much more wary of in terms of being achievable

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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 3:17 pm

A bit of forward planning from Tottenham major shareholder Joe Lewis, who is 85, he has put the club under the control of a trust

https://twitter.com/KieranMaguire/statu ... zPsvQrAAAA

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Re: Football's Magic Money Tree

Post by aggi » Mon Oct 17, 2022 4:31 pm

Chester Perry wrote:
Mon Oct 17, 2022 3:12 pm
absolutely - but don't think we have ever had a sum like that even when adding outstanding transfer payments

I will say that under the new owners and their approach to recruitment this is area that I expect them to try and exploit in the transfer market, but one that I also think many clubs at home and abroad are much more wary of in terms of being achievable
It's one that has been building for a while (2020: £36m, 2021: £54m) so I suspect the chances of them happening is relatively low (although I guess not getting relegated is probably a big one).

I do wonder whether there are some sell-on fees in there. It does seem a substantial amount given their level of transfer spend.

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Re: Football's Magic Money Tree

Post by Quickenthetempo » Mon Oct 17, 2022 6:31 pm


Chester Perry
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Re: Football's Magic Money Tree

Post by Chester Perry » Mon Oct 17, 2022 6:54 pm

China's exit from European Football looks set to continue, the only surprise being that it has taken so long for Inter Milan to be put up for sale - from the Financial Times, what price another American Investment group

Italian football club Inter Milan kicks off search for buyer
Owner Suning becomes latest Chinese group to reduce exposure to European football

https://archive.ph/CKPkE

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Re: Football's Magic Money Tree

Post by Chester Perry » Wed Oct 19, 2022 10:43 am

Chester Perry wrote:
Fri Oct 14, 2022 11:54 am
Here is the first of the promised features from Miguel Delaney in the Independent, remember earlier this week Richard Scudamore said it was impossible for English Teams to be part of the Super League

European football’s earthquake is coming - what will it look like after?
A power battle at the very top of the game could soon come to a head with potentially massive repercussions for the whole sport

https://12ft.io/proxy?q=https%3A%2F%2Fw ... 02013.html
The company created to do al the leg-work for Super League appoints a new CEO, this story is lighting up the web at the moment as the rebel clubs release statements about it, but was first reported on over a week ago

Company backing European Super League appoints new CEO
https://www.espn.co.uk/football/blog-ue ... ts-new-ceo

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Re: Football's Magic Money Tree

Post by Chester Perry » Wed Oct 19, 2022 11:16 am

Chester Perry wrote:
Wed Oct 19, 2022 10:43 am
The company created to do al the leg-work for Super League appoints a new CEO, this story is lighting up the web at the moment as the rebel clubs release statements about it, but was first reported on over a week ago

Company backing European Super League appoints new CEO
https://www.espn.co.uk/football/blog-ue ... ts-new-ceo
More on this story from the Financial Times

New European Super League boss eyes kick-off in 3 years with different format
Contentious breakaway football competition plans relaunch after collapse of original project

https://archive.ph/iZ9Fm

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Re: Football's Magic Money Tree

Post by Chester Perry » Wed Oct 19, 2022 11:34 am

More indication of the fact that top level European Football is really no longer European owned - which is not always a bad thing but certainly mains a distinct changed in attitude and approach. You will notice that regulations in Germany mean that they are not affected in the same way, but is that a good thing given the dominance of 1 club for so long, their international media rights income would suggest not (and yes that should not be the only measure) - courtesy of CIES Sports Intelligence

https://twitter.com/CIESsportsintel/sta ... KC3vYrAAAA

Foreign investors control nearly half (49%) of the 80 clubs competing in the #PremierLeague, #LaLiga, #SerieA and #Ligue1 this season. One fifth is in American hands, whilst six are owned by investors from the Gulf

Image

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Re: Football's Magic Money Tree

Post by Chester Perry » Wed Oct 19, 2022 3:49 pm

Yesterday a small group of Barcelona fans were in European Court to try and get a European Commission Investigation into the transfer of Lionel Messi to PSG - the issue being Stae aid (not from Qatar but from the French Government - there is a lot of intriguing detail within. Of course, Barcelona themselves are familiar with European Commision investigations into State Aid.

It is difficult not to feel that his is all part of a co-ordinated plan amongst the rebel 3 and that there is plenty more to come - from the Guardian

Barcelona fans take legal action over Lionel Messi’s transfer to PSG
Small group of supporters go to court over Messi’s move to Paris
Lawyers argue that transfer broke European laws on state aid

https://www.theguardian.com/football/20 ... fer-to-psg

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 20, 2022 1:06 pm

A truly fascinating insight into the salary structures in the MLS and how Gareth Bale is far from being the top paid player. The convoluted rules system to maintain a level of even competition is really something to behold - from the Athletic

MLS salaries updated: Explaining the numbers for Lorenzo Insigne, Gareth Bale and more
https://archive.ph/BzACS

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 20, 2022 1:42 pm

So, in his Press Conference last week, before Liverpool's home game with Manchester City, Jurgen Klopp caused a bit of a furore with his statement about 3 clubs in football had no financial restrictions because they were state owned- it led to claims of xenophobic racism from fans of City, Newcastle and PSG.

Those claims have been classed as false or spurious by many including Miguel Delaney in the Independent

Jurgen Klopp is right. It is wrong to describe criticism of state-owned clubs as xenophobic
The Liverpool boss lamented the challenge of competing with ‘three clubs in world football who can do what they want financially’

https://12ft.io/proxy?q=https%3A%2F%2Fw ... 05082.html

of course, these claims are just further examples of fans being used as weapons in the PR fight of these states. What they and much of the media are missing is the fact that all of these states are Kleptocracies, as the very informed Nicholas McGeehan so ably points out in this thread

https://twitter.com/NcGeehan/status/1583005580872257536

and yes, our country has done plenty to support these regimes as well as exercising Kleptocracy in its former colonies for many years, including in its not that distant (still in living memory) past.

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 20, 2022 2:19 pm

Now here is a series of articles I would love to get round the paywall to read - Mediapart France with a series of 24 Investigative articles into what they call

The secrets of Qatargate

Thanks to unpublished documents, Mediapart reveals the backstage of Qatargate, this judicial investigation for alleged corruption on the award to Qatar of the 2022 football World Cup. Story of a state affair that mixes arrangements at the top, football, friendships, diplomacy and business.

https://www.mediapart.fr/journal/dossie ... -qatargate

the latest was introduced by this tweet

https://twitter.com/yphilippin/status/1 ... 8862908416

the Article has this heading and sub statement

Takeover of PSG by Qatar: the surprising role of DJ Pierre Sarkozy
The former boss of the fund owner of PSG, Sébastien Bazin, managed in 2011 to double the sale price of the Parisian club to the Emirate, thanks to the help of Nicolas Sarkozy but also his son Pierre, aka DJ Mosey. Which were subsequently paid by the Accor group, led by... Sebastien Bazin.


If anyone knows of a way to access the articles I would be grateful

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 20, 2022 5:33 pm

Quickenthetempo wrote:
Mon Oct 17, 2022 6:31 pm
https://www.bbc.co.uk/sport/football/63287998
Rochdale docked points
the full verdict that led to the ruling against Rochdale

https://www.efl.com/contentassets/8a7f1 ... dacted.pdf

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Re: Football's Magic Money Tree

Post by ClaretPete001 » Thu Oct 20, 2022 7:13 pm

Chester Perry wrote:
Thu Oct 20, 2022 1:42 pm
So, in his Press Conference last week, before Liverpool's home game with Manchester City, Jurgen Klopp caused a bit of a furore with his statement about 3 clubs in football had no financial restrictions because they were state owned- it led to claims of xenophobic racism from fans of City, Newcastle and PSG.

Those claims have been classed as false or spurious by many including Miguel Delaney in the Independent

Jurgen Klopp is right. It is wrong to describe criticism of state-owned clubs as xenophobic
The Liverpool boss lamented the challenge of competing with ‘three clubs in world football who can do what they want financially’

https://12ft.io/proxy?q=https%3A%2F%2Fw ... 05082.html

of course, these claims are just further examples of fans being used as weapons in the PR fight of these states. What they and much of the media are missing is the fact that all of these states are Kleptocracies, as the very informed Nicholas McGeehan so ably points out in this thread

https://twitter.com/NcGeehan/status/1583005580872257536

and yes, our country has done plenty to support these regimes as well as exercising Kleptocracy in its former colonies for many years, including in its not that distant (still in living memory) past.
This is where the term Woke comes into play. Truly pathetic to try and defend the actions of nation states by conflating them with racial categories or religions.

Ask Jeremy Corbyn, a lifelong anti-racist, hoisted on his own follower's petard. A loser in the game of Woke Top Trumps.

Why would a football manager want to make a football-based comment on finance again when those who you are commenting upon can carelessly accuse you of being a xenophobe?

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Re: Football's Magic Money Tree

Post by Chester Perry » Thu Oct 20, 2022 8:45 pm

A Super League would be a much more commercial project if English clubs, thanks in no small part to the success of the Premier League, were involved and those trying to relaunch it are absolutely cognisant of that fact - from the BBC

European Super League's new organiser open to English club talks
https://www.bbc.co.uk/sport/football/63334283

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Re: Football's Magic Money Tree

Post by Chester Perry » Sun Oct 23, 2022 12:14 pm

The world cup draws ever closer, like the last one I will not be watching it, the whole thing is just corrupt - as this podcast series clearly shows and it is just half-way through it starts with that seismic decision many years ago to award first Russia then Qatar the World Cups of 2018 and 2022.

World Corrupt Episode 1: A Toxic Love Affair between Politics and Sports

This fall, when the eyes of the world turn towards Qatar for the 2022 FIFA World Cup, a shadow looms over the tournament, which is one of the most watched events in the world. The sports landscape being co-opted for geo-political and corporate gain is nothing new, but this year's iteration of football's biggest competition may be the most expensive example to date. Pod Save the World’s Tommy Vietor and Roger Bennett of Men in Blazers join forces to unravel the riddle of how to enjoy the game we love while holding the powers that control it accountable for their corruptive policies and practices. On this inaugural episode of World Corrupt, a collaboration from Men in Blazers Media Network and Crooked Media, the two hosts share the memories that helped them first fall in love with soccer, while also looking back into the annals of history at past instances of a phenomenon known as "sportswashing.”

https://podcasts.apple.com/us/podcast/w ... 0581985408

World Corrupt Episode 2: “The Most Corrupt Thing I’ve Ever Seen”

Roger and Tommy dig into the history of FIFA, the governing body of international football, and trace FIFA's long history of corruption up to the moment they awarded the World Cup tournaments to Russia and Qatar. Tariq Panja of The New York Times shares insight into how FIFA operates and former Justice Department official Matt Miller recounts the misconduct he witnessed firsthand at a World Cup bid.

https://podcasts.apple.com/us/podcast/w ... 0582724790

World Corrupt Episode 3: Qatar’s path to the World Cup

Tommy and Roger look at how a country roughly the size of Connecticut with documented human rights violations was awarded the World Cup bid. They’re joined by Tariq Panja of the New York Times to discuss FIFA’s corrupt history, and global sports expert Simon Chadwick to explain the concept of sportswashing and why Qatar would want hosting duties in the first place.

https://podcasts.apple.com/us/podcast/w ... 0583510310

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