Football's Magic Money Tree

[Westleigh]

Sorry my last post should have been about another post.

[Chester Perry]

More on that Everton appeal judgement and why Nottingham Forest have something to fear as their case is heard next week. The notion of vindication here is laughable, at best they has been a clarification and firming up of the general approach - the link to EFL precedent will be quiet a shock to a number of Premier League clubs and owners.

from the Independent

Everton feel ‘vindicated’ after successful appeal – but a precedent has been set
The Toffees moved clear of the relegation zone in the Premier League after a 10-point deduction was reduced to six points but, as Richard Jolly outlines, there could be yet more adversity ahead
https://www.independent.co.uk/sport/foo ... 02725.html
https://archive.ph/ItpjK

[Chester Perry]

Oh to be a fly on the wall

from The Times

Premier League will meet 777 Partners to discuss Everton takeover
League will hold face-to-face talks with Miami-based group, who have been waiting for approval to purchase Farhad Moshiri’s stake in club since September
https://archive.ph/P6j5j

[Chester Perry]

Martin Samuel resurrects a theme that Miguel Delaney used nearly 4 years ago (viewtopic.php?f=2&t=48329) it is an unwritten rule of modern football

from The Times

Brighton could go down one day soon – they are that good
Roberto De Zerbi’s club are experts at scouting, developing and selling – but very nature of this unsustainable cycle means a couple of missteps can bring them down
https://archive.ph/rl4LO

[Chester Perry]

I have not listened to this yet but is should be a good one (given the track record)

UP376 Too Big To Fail? Man City and the legal fight that could change the Premier League forever
https://www.unofficialpartner.com/podca ... ue-forever

the blurb

Unofficial Partner|2/27/2024

Manchester City are in the process of extending their most important and lucrative sponsorship deal, with Etihad, the Abu Dhabi-based airline, whose brand is synonymous with the club following the takeover by Sheikh Mansour’s Abu Dhabi United Group (ADUG), which bought 90 per cent of the club from Thaksin Shinawatra, the former prime minister of Thailand, in 2008.

But, for obvious reasons, this is not just another sponsorship renewal.

The City-Etihad relationship plays a central role in a much bigger story: The Premier League has accused Manchester City of more than 100 violations of its financial regulations, rules breaches that it says began more than a decade ago and continue to present day.

Manchester City says it has done nothing wrong and declared itself “surprised” at the airing of what it referred to as “alleged breaches.”

So the looming court case will match the one of the world’s richest sporting competitions against its most successful member clubs.

The catalyst for today's conversation is a piece written by Nick Harris, former Mail on Sunday investigative journalist, and one of our guests today.

Joining Nick is Stefan Borson, a corporate lawyer and investment banker who helped manage the sale of Manchester City in 2008.

It's fair to say they don't agree.

[Chester Perry]

I have not listened to this yet but is should be a good one (given the track record)

UP376 Too Big To Fail? Man City and the legal fight that could change the Premier League forever
https://www.unofficialpartner.com/podca ... ue-forever

the blurb

Unofficial Partner|2/27/2024

Manchester City are in the process of extending their most important and lucrative sponsorship deal, with Etihad, the Abu Dhabi-based airline, whose brand is synonymous with the club following the takeover by Sheikh Mansour’s Abu Dhabi United Group (ADUG), which bought 90 per cent of the club from Thaksin Shinawatra, the former prime minister of Thailand, in 2008.

But, for obvious reasons, this is not just another sponsorship renewal.

The City-Etihad relationship plays a central role in a much bigger story: The Premier League has accused Manchester City of more than 100 violations of its financial regulations, rules breaches that it says began more than a decade ago and continue to present day.

Manchester City says it has done nothing wrong and declared itself “surprised” at the airing of what it referred to as “alleged breaches.”

So the looming court case will match the one of the world’s richest sporting competitions against its most successful member clubs.

The catalyst for today's conversation is a piece written by Nick Harris, former Mail on Sunday investigative journalist, and one of our guests today.

Joining Nick is Stefan Borson, a corporate lawyer and investment banker who helped manage the sale of Manchester City in 2008.

It's fair to say they don't agree.

The above is well worthy of a lesson, gets detail heavy at times, but a real education for the layman as Nick Harris finds out repeatedly

[Chester Perry]

This news is far from surprising it has been telegraphed for the best part of two years

from The Guardian

Premier League clubs set to back Uefa-style framework of financial rules
Existing profit and sustainability regulations likely to be axed
Nineteen clubs thought to support switch to new system
https://www.theguardian.com/football/20 ... cial-rules
https://archive.ph/jCTuS

[Chester Perry]

Oh to be a fly on the wall

from The Times

Premier League will meet 777 Partners to discuss Everton takeover
League will hold face-to-face talks with Miami-based group, who have been waiting for approval to purchase Farhad Moshiri’s stake in club since September
https://archive.ph/P6j5j

we have the beginnings of a timeframe

Proposed new Everton owners 777 Partners to meet Premier League in next fortnight as takeover process drags on
Miami-based 777 Partners agreed deal to take over Everton last September; 777 involved with Sevilla, Hertha Berlin and Standard Liege; to accommodate the longer-than-expected approval process, both Farhad Moshiri and 777 have agreed to extend the deadline to complete the deal
https://www.skysports.com/football/news ... s-drags-on

[Chester Perry]

this latest issue for 777Re was first highlighted by The Esk in a tweet on Monday Evening, though this report from The Athletic gives much more detail

Fresh questions over Everton takeover with 777 set to lose major source of funding
https://archive.ph/HfZro

[Chester Perry]

We all know that fans are being treated diabolically by match scheduling from the broadcasters, and yes it does seem to be much worse at the moment when combined with other issues, placing it's cause as a result of PSR is quite frankly one of the most bizarre and probably idiotic notions I have ever seen. That is just deflecting away from poor fiscal management

from The Telegraph

Special report: Premier League match-going fans are treated worse than ever – PSR could be to blame
With TV schedulers calling the shots, chaotic trains and new financial rules fuelling ticket price hikes, supporter frustration is growing
https://archive.ph/XNtWC

[Chester Perry]

It has been a while since we have heard from John Textor, though I am far from sure he is right here, which is not uncommon for me where he is concerned - anyone would think that Crystal Palace are sailing close to the PSR wire

from The Times

Premier League’s financial rules are broken, says Crystal Palace co-owner
John Textor says it makes no sense that billionaires face limits on what they can spend to improve their clubs and believes that Nottingham Forest should not be deducted points for breaking rules
https://archive.ph/ptl0w

[Chester Perry]

Meanwhile as the external and particularly government/DCMS pressure grows on the Premier League to come to an agreement with the EFL over funding The Premier League has presented a new model for consideration after the previous attempt stalled following disagreements amongst the members

from The Guardian

Premier League clubs given new offer to share £900m across football pyramid
Clubs to consider proposal before meeting on 11 March
Bill on independent regulator coming ‘very soon’ – Lucy Frazer
https://www.theguardian.com/football/20 ... ll-pyramid
https://archive.ph/kjXaV

[Chester Perry]

ticket touting and resale has been a problem for big clubs going back years, Arsenal have been at the forefront of trying to deal with it - here a set of circumstances seems to suggest their own re-selling platform is open to exploitation and innocents may be caught up in the ensuing actions of the club, Many clubs (including ours) do the reselling themselves, and profit from it

from The Athletic

Why hundreds of Arsenal members were banned and had their tickets cancelled
https://archive.ph/TX7qs

[Chester Perry]

I have to say that this is sounding pretty desperate from Joan Laporta - has he run out of financial levers, we know huge deals like this tend to be loss making to manufacturers, and we also know that Barcelona to not have the supply and distribution chain expertise and capability, let alone the spare cash to establish it - one can only believe that he thinks he can immediately flog it.

from The Mail

Barcelona 'are willing to make huge decision over £73m-a-season Nike sponsorship deal' - and club president Joan Laporta has suggested groundbreaking option
Barcelona are reportedly prepared to end their storied partnership with Nike
Club debating employing unique approach to kit manufacturing going forward
https://www.dailymail.co.uk/sport/footb ... ption.html
https://archive.ph/4U4LA

[Chester Perry]

In some respects it is surprising that it has taken so long for names to be pushed forward as being suitable for the role of Independent Regulator for football

from The Telegraph

‘Super silk’ lawyer who took on Man City lined up as Premier League’s first regulator
Exclusive: Mark Phillips KC, who represented Uefa’s financial breach prosecution of City, favoured for new role as spending watchdog
https://archive.ph/y8BzT

[Chester Perry]

this latest issue for 777Re was first highlighted by The Esk in a tweet on Monday Evening, though this report from The Athletic gives much more detail

Fresh questions over Everton takeover with 777 set to lose major source of funding
https://archive.ph/HfZro

So that Kenneth King/A-Cap web event has provoked quite a bit of press - here The Esk presents both an actual audio recording and full transcript

Kenneth King’s webinar regarding A-Cap and 777 Re
https://theesk.org/2024/03/01/kenneth-k ... nd-777-re/

[Chester Perry]

Football is already known for its inability to get in the way and prevent direct conflicts of interest. Here Barney Ronay points how overworked Nasser al-Khelaifi is (nothing new to the long time readers of this thread), though in some parts of the world it seems that if you prove yourself you get given evermore responsibility until the point you fail. I particularly note the NAK abbreviation such is his ubiquitous presence.

As for NAK's attendance at Israel/Gaza political talks - Gianni Infantino may be worried, after all isn't he the worlds greatest peacemaker, also with very strong Qatari connections - he even resides in the emirate. Of course the Qatar World Cup has now been and gone so his usefulness has probably wained- I wonder who now provides him with a personal jet for all his glorious work with FIFA - my guess Saudi Arabia who are pumping money into FIFA in various ways

from The Guardian

Mbappé with your canapés? The absurd influence of Nasser al-Khelaifi
From tennis also-ran to brokering world peace via signing Eric Maxim Choupo-Moting, the PSG owner has been on a journey
https://www.theguardian.com/football/20 ... -investors
https://archive.ph/UniSO

[Chester Perry]

Football is already known for its inability to get in the way and prevent direct conflicts of interest. Here Barney Ronay points how overworked Nasser al-Khelaifi is (nothing new to the long time readers of this thread), though in some parts of the world it seems that if you prove yourself you get given evermore responsibility until the point you fail. I particularly note the NAK abbreviation such is his ubiquitous presence.

As for NAK's attendance at Israel/Gaza political talks - Gianni Infantino may be worried, after all isn't he the worlds greatest peacemaker, also with very strong Qatari connections - he even resides in the emirate. Of course the Qatar World Cup has now been and gone so his usefulness has probably wained- I wonder who now provides him with a personal jet for all his glorious work with FIFA - my guess Saudi Arabia who are pumping money into FIFA in various ways

from The Guardian

Mbappé with your canapés? The absurd influence of Nasser al-Khelaifi
From tennis also-ran to brokering world peace via signing Eric Maxim Choupo-Moting, the PSG owner has been on a journey
https://www.theguardian.com/football/20 ... -investors
https://archive.ph/UniSO

Never, ever let anyone tell you politics has no place in sport, particularly football. It is all about politics at the highest levels these days and actually the act of turning professional and the introduction of the Football League itself in 1888 was a very political act.

[Chester Perry]

I understand the desire for clubs to be appropriately compensated for development efforts (the rewards on one player can cover the costs of working with hundreds), but am I the only that has issues with the trading of children.

The flip side of this story also shows that EPPP still favours the biggest/richest clubs particularly when poaching from the lower leagues

from The Athletic

Chelsea and Brighton both satisfied with settlement for Sturge and Mheuka
https://archive.ph/NynEy

[Chester Perry]

hmmm, what do you expect the result to be when the promoters conduct market research to support the case

from The Independent

Poll suggests nearly two-thirds of UK fans now back European Super League
Support was found to be especially high among fans of Manchester City and Chelsea.
https://archive.ph/uVe1M

[Chester Perry]

A tale that epitomises modern football, where so much can come so quickly to someone so young, who then struggles to understand that he is not omnipotent before it all is taken away so fast - though for Mason Greenwood it looks like Spain is going to give him the opportunity to to eventually succeed.

The liquidation of Mason Greenwood's Image Rights company bears itself as a metaphor of troubled career to date

from The Times

Mason Greenwood’s image rights company goes into liquidation
Most recent accounts showed company’s cash in the bank had dropped by £600,000 after forward’s suspension by Manchester United
https://archive.ph/MSXwc

[Chester Perry]

with the Premier League seemingly looking to meet Everton this week (The Athletic)

777 expecting Everton takeover meeting with Premier League this week
https://archive.ph/fRiBc

and concerns mounting about what happens if the waiting goes on into another month, though I have long said 777 Partners financing of the club is one that appears to try and back the Premier League into a corner (The Telegraph)

Everton future in peril if 777 takeover not completed this month
Working capital and new stadium financing for Bramley Moore Dock is only assured until March 31
https://archive.ph/iWdce

Josimar Football magazine releases it's 15th (yes fifteen) article about 777 Partners since this unappetising takeover began

The 3.6 billion dollar question
Documents seen by Josimar suggest that 777 Partners owed a total of 3.6 billion US dollars to creditors in the summer of 2023. Overdue debt-related payments totalling over 145 million dollars raises fresh concerns about the finances of the US group and its portfolio of clubs.
https://josimarfootball.com/2024/03/05/ ... -question/
https://archive.ph/JMV7Y

[Chester Perry]

If your of the notion that football has been killed by tv and that there has been an of exposure of the game and its 'celebrity' associations - and a strong case can be made for that - then this news is probably not for you. A separate question is how on earth has Shaun Harvey become a voice once more for the EFL following his shocking past in football

from The Guardian

Should other clubs chase Wrexham’s American success story?
The club owned by Ryan Reynolds and Rob McElhenney is leading the push to bring free-to-air EFL matches to the US
https://www.theguardian.com/football/20 ... eynolds-tv
https://archive.ph/fdDx5

[Big Vinny K]

https://www.bbc.co.uk/sport/football/68476722

Only had a quick look at the headlines numbers but some eye watering numbers here.
£120m losses last year.
Year before only broke even due to £100m sale of Grealish.

So whilst they may be still technically within the £105m permitted losses over a 3 year period rule it looks like if they are going to stay within this they need the additional revenue of qualifying for the Champions League and / or to sell some more players at significant profits.

Looking at their increasing wage bill which increased by more than 40% last year together with at least another £100m spent last summer on new players would not be surprised if Villa join the growing list of clubs spending beyond their means.

[Chester Perry]

https://www.bbc.co.uk/sport/football/68476722

Only had a quick look at the headlines numbers but some eye watering numbers here.
£120m losses last year.
Year before only broke even due to £100m sale of Grealish.

So whilst they may be still technically within the £105m permitted losses over a 3 year period rule it looks like if they are going to stay within this they need the additional revenue of qualifying for the Champions League and / or to sell some more players at significant profits.

Looking at their increasing wage bill which increased by more than 40% last year together with at least another £100m spent last summer on new players would not be surprised if Villa join the growing list of clubs spending beyond their means.

they are one of the ones under watch, but not in the public eye at the moment, along with Wolves and Newcastle, possibly even West Ham and Brentford

[Chester Perry]

This decision was not too surprising, neither is the likely dissenter who once again may test this rule through the courts, it is a routine that is becoming habitual for them, kind of ironic for a club/ownership that doesn't like rules

from The Athletic

Premier League clubs vote for stricter rules over associated party transactions
https://archive.ph/4FkDD

It is looking like the Premier League's new related party transaction rules may have some real bite, particularly as it is upon the club to prove that any deal is fair value rather than the league (a difficult task, that may force clubs into being more cautious than they would be if that responsibility was reversed) and that penalty tariffs are to be unlimited.

Just remember that Burnley (more specifically Alan Pace) voted against these measures

from The Times

Premier League clubs face sanctions for inflating sponsorship deals
Premier League’s much tougher revised rules aim to stop clubs securing inflated deals with companies, organisations or other teams connected to their owners
https://archive.ph/IE3Vs

[Chester Perry]

I rarely agree with Martin Samuel these days, at times he appears to be contradictory just for the sake of clicks - his latest column in The Times, begins with acerbic satire, but actually is making a relevant point about the way the game is travelling at ever greater speed, though it never seems to ask why?

In my view that question can be answered by the fact the game now has a group of owners who are extremely used to getting their own way, and this is just an extension of that sense of entitlement, and the media are fuelling it with their constant rolling news on the game going into every detail, generating unnecessary anger and vitrol for clicks and subscriptions. This feeding frenzy has become a key feature of the entertainment package. In essence it is just a magnification of the popularism that is eroding society of civility and understanding, where genuine mistakes and differing interpretations (which are just human nature) tend to be viewed as a conspiracy. All that actually happens is that the best, smartest and most capable move elsewhere to be successful out of the public gaze, leaving behind them a well meaning but less gifted/capable option.

Titles are now won by accountants, lawyers and ex-referees
As Nottingham Forest’s deployment of retired match official Mark Clattenburg shows, signing top players is no longer enough to give teams a Premier League edge
https://archive.ph/5RUp5

[Chester Perry]

If your of the notion that football has been killed by tv and that there has been an of exposure of the game and its 'celebrity' associations - and a strong case can be made for that - then this news is probably not for you. A separate question is how on earth has Shaun Harvey become a voice once more for the EFL following his shocking past in football

from The Guardian

Should other clubs chase Wrexham’s American success story?
The club owned by Ryan Reynolds and Rob McElhenney is leading the push to bring free-to-air EFL matches to the US
https://www.theguardian.com/football/20 ... eynolds-tv
https://archive.ph/fdDx5

Are these rights up 40% because of a four year as opposed to a 3 year deal and therefore up less than 7% in real terms (less when you account for inflation) - it is hard to tell

from The Athletic

EFL secures record deals for international TV rights
https://archive.ph/iYVpr

[Chester Perry]

It is a tale that many here are familiar with - but one that underlines how English Football can be directly impacted by a government and political choices in a far away country - the perils of international ownership, even from something so seemingly innocuous as buying a house

from The Athletic

How buying Gary Neville’s house increased Venky’s Blackburn Rovers problems
https://archive.ph/ZeAea

[BobSykes]

I rarely agree with Martin Samuel these days, at times he appears to be contradictory just for the sake of clicks - his latest column in The Times, begins with acerbic satire, but actually is making a relevant point about the way the game is travelling at ever greater speed, though it never seems to ask why?

In my view that question can be answered by the fact the game now has a group of owners who are extremely used to getting their own way, and this is just an extension of that sense of entitlement, and the media are fuelling it with their constant rolling news on the game going into every detail, generating unnecessary anger and vitrol for clicks and subscriptions. This feeding frenzy has become a key feature of the entertainment package. In essence it is just a magnification of the popularism that is eroding society of civility and understanding, where genuine mistakes and differing interpretations (which are just human nature) tend to be viewed as a conspiracy. All that actually happens is that the best, smartest and most capable move elsewhere to be successful out of the public gaze, leaving behind them a well meaning but less gifted/capable option.

Titles are now won by accountants, lawyers and ex-referees
As Nottingham Forest’s deployment of retired match official Mark Clattenburg shows, signing top players is no longer enough to give teams a Premier League edge
https://archive.ph/5RUp5

On the page next to it was a full pager on what went wrong for Sheff Utd this season. Yet i don't recall seeing anything yet on Burnley other than a paragraph from Tony Cascarino the other day which was basically about the Bournemouth shambles.

Ours is surely a much more interesting and involved story than Sheff Utd's and could probably fill a 3 page spread....

[Chester Perry]

On the page next to it was a full pager on what went wrong for Sheff Utd this season. Yet i don't recall seeing anything yet on Burnley other than a paragraph from Tony Cascarino the other day which was basically about the Bournemouth shambles.

Ours is surely a much more interesting and involved story than Sheff Utd's and could probably fill a 3 page spread....

if my investigations are anything to go by you could fill a whole edition from General news, business, quite a bit of legal, the register and lifestyle sections even to the actual sport and the issues and developments that now surround it

anyho - for those that are interested that Sheffield United piece, which includes the revelation that Sander Berge was sold against his will and without the knowledge of the football Management. It is a sorry tale about a team/club on the same points as ourselves - it is interesting to see that Sheffield Utb and ourselves have done much better against Luton than other clubs in the 14

How Sheffield United were ‘broken and damaged’ before a ball was kicked
Chris Wilder’s side lost third straight Premier League game at home by at least five goals in defeat by Arsenal on Monday — but seeds of failure have long been sown
https://archive.ph/lwcSa

[Chester Perry]

I never ceased to be amazed at what football fans will condone in regards to it's ownership if their team is being successful on the pitch, relative to its history

from The Athletic

The EFL club owned by a convicted fraudster
https://archive.ph/88vWU

[Chester Perry]

So here is something that I can see catching on quickly - Tottenham have announced that they are phasing out Senior Concessions in season tickets from the season after next, no new ones will be sold, even to longstanding season ticket holders who would have normally become entitled - here Martin Cloake uses The Football Fan blog to rail against the decision.

Sorry we’re not dead yet
Tottenham Hotspur have a problem. Not enough of their longstanding fans are dying.
https://martincloake.substack.com/p/sor ... t-dead-yet
https://archive.ph/T4CjZ

[Chester Perry]

Never, ever let anyone tell you politics has no place in sport, particularly football. It is all about politics at the highest levels these days and actually the act of turning professional and the introduction of the Football League itself in 1888 was a very political act.

Another example of football in the political sphere - and I am not just referring to the Premier League, with some EFL clubs looking to make this a general election issue

from The Independent

Premier League pushes for diluted independent regulator powers amid fears of long delay
The secretary of state for Culture, Media and Sport is also involved in talks for football’s ‘new deal’ and the Premier League rescue package for the lower leagues
https://www.independent.co.uk/sport/foo ... 08079.html
https://archive.ph/DvtiX

[Chester Perry]

Here is what I believe a great example of football being using as a political relationship tool

we have this from The Athletic, which all seems like business as normal for CFG as a football enterprise

Manchester City owner CFG announces ‘football collaboration’ with Istanbul Basaksehir
https://archive.ph/CQXvR

It pays however to understand who has interests in both organisations - The Abu Dhabi connection at CFG is well known, with Burnley having played Basakshir in public a number of you will be aware of the club's relationship with Turkish Premier Erdogan

There is another angle to look at this and it brings to mind the tenure of Roberto Mancini at the club, where infamously he made a significant top up to his City salary via a consulting agreement for a 'few days' a year in Abu Dhabi. These collaborations from the City group (there is another in Singapore) could be a way to do similar for Pep Guardiola. It is possible that this is a way of rewarding Pep without the payments being made by the club.

It took some time but it appears that I am not the only one to link the political benefits of CFG's new partnership with Istanbul Başakşehir

from Josimar Foootball

A match made in geopolitical heaven?
Is the agreement between City Football Group, controlled by senior members of the UAE government, and İstanbul Başakşehir, the favourite team of Turkey’s ruling party (AKP), a means to ease tensions between the two states?
https://web.archive.org/web/20240306101 ... al-heaven/

[Chester Perry]

Journalist Matt Law has managed to get details on the powershare agreement of the owners of Chelsea

from The Telegraph

Chelsea could change chairman every five years as extraordinary ownership deal revealed
Exclusive: A written agreement between Todd Boehly and Clearlake Capital allows the club’s chairmanship to be shared between them
https://archive.ph/B0gIv

[Chester Perry]

Another day, another issue regarding the business practises of 777 Partners

Article originally from Bloomberg

Would-Be Everton Owner 777 Partners Faces Lawsuit Over Asset Transfers
https://finance.yahoo.com/news/everton- ... 23188.html
https://archive.ph/sOJnA

[Chester Perry]

I am wondering if this says more about me than the report itself

When I heard about Livescore's Evolution of a fan report (looking at sports fandom over the last 25 years) I though that looks like it could be really interesting and prepared my self for a 'proper good read', but the way it is presented is absolutely bloody awful, I am sure there is some really interesting stuff in there but I find it all not worth the energy required to dig it out

Livescore 25 years: Evolution of a fan
https://livescore.com/en/promo/p/LiveSc ... DyOAg9gQxO[%E2%80%A6]Is97ihHuLFIdtuJD-kBSpZdRuo30RBB852LSJgw8OeFWR0BLWOTJoTuusOxI0E

[Chester Perry]

No doubt many of you have seen that Chelsea have reported a £90m loss last season and had a raised eyebrow or two given what they have spent in the transfer market.

Well the new parent company of the club (and its other multi-club partner - there are likely to be more in the stable going forward) has also posted it's first set of accounts on time (take note Alan Pace in regards to Kettering Capital and Calder Vale Holdings) - Blueco 22 Limited (https://find-and-update.company-informa ... ng-history) has made considerably larger losses - £650m to be exact

from The Financial Times

Chelsea Football Club owner made £650mn loss after new player splurge
Investment in players including Fernández, Fofana and Mudryk has not yet paid off on the pitch
https://archive.ph/n3ySn

oh and do not worry about Blueco 22 having previously changed its financial reporting date - that was good practise, the date was moved to synchronise reporting dates with Chelsea FC, the company being formed at the time of takeover meaning they were out of synch.

[Chester Perry]

I have stated this previously, but it is good to have proper legal experts stating it

from Sheridan's Sports - Backpage Weekly blog

#37 Could this be the most controversial end to a Premier League season yet?
In this week's BackPage, we look at the curious case of points deductions, appeals and relegation uncertainty.
https://sheridanssport.substack.com/p/3 ... troversial
https://archive.ph/Zgs2p

[Chester Perry]

Another day, another issue regarding the business practises of 777 Partners

Article originally from Bloomberg

Would-Be Everton Owner 777 Partners Faces Lawsuit Over Asset Transfers
https://finance.yahoo.com/news/everton- ... 23188.html
https://archive.ph/sOJnA

the Athletic with their take on the above latest lawsuit against 777 Partners - you have to ask why has this proposed deal not yet been called off/blocked yet

Would-be Everton owners 777 described as ‘crumbling house of cards’ in lawsuit
https://archive.ph/xMKpr

[Chester Perry]

No details but the Premier league says it has agreed a new a new financial system for English Football - id believed to include funding and changes to the PSR rules

https://www.premierleague.com/news/3930545

At a Premier League Shareholders’ meeting today clubs agreed to prioritise the swift development and implementation of a new League-wide financial system.

This will provide certainty for clubs in relation to their future financial plans and will ensure the Premier League is able to retain its existing world-leading investment to all levels of the game.

Alongside this, Premier League clubs also re-confirmed their commitment to securing a sustainably funded financial agreement with the EFL, subject to the new financial system being formally approved by clubs.

The League and clubs also reaffirmed their ongoing and longstanding commitment to the wider game which includes £1.6billion distributed to all levels of football across the current three-year cycle.

The Premier League’s significant funding contributions cover all EFL clubs and National League clubs, as well as women and girls’ football, and the grassroots of the game.

[Chester Perry]

No details but the Premier league says it has agreed a new a new financial system for English Football - id believed to include funding and changes to the PSR rules

https://www.premierleague.com/news/3930545

At a Premier League Shareholders’ meeting today clubs agreed to prioritise the swift development and implementation of a new League-wide financial system.

This will provide certainty for clubs in relation to their future financial plans and will ensure the Premier League is able to retain its existing world-leading investment to all levels of the game.

Alongside this, Premier League clubs also re-confirmed their commitment to securing a sustainably funded financial agreement with the EFL, subject to the new financial system being formally approved by clubs.

The League and clubs also reaffirmed their ongoing and longstanding commitment to the wider game which includes £1.6billion distributed to all levels of football across the current three-year cycle.

The Premier League’s significant funding contributions cover all EFL clubs and National League clubs, as well as women and girls’ football, and the grassroots of the game.

It seems that the Premier League have not actually agreed the financial package for the EFL - np surprise really

From The Athletic

Premier League fails to agree funding package for EFL clubs
https://archive.ph/1Rm2E

[Chester Perry]

More reports on the Premier Leagues inability to come to a conclusion on the financial support for the EFL

The Telegraph

‘Shambolic’ Premier League faces backlash after £900m EFL support plan shelved
Funding agreement to help Football League clubs which was first proposed in 2022 has been postponed yet again
https://archive.ph/TA1Ox

the BBC

Premier League clubs fail to reach agreement over EFL funding deal
https://www.bbc.co.uk/sport/football/68537402

[Chester Perry]

The Financial Times with a useful summary of the issues regarding 777 Partners and their intended takeover of Everton

Everton FC bidder 777’s funding structure starts to unravel
US insurer with extensive links to investment group looks to raise capital and regain control of assets ceded to reinsurer
https://archive.ph/bp1UL

[GodIsADeeJay81]

https://x.com/kieranmaguire/status/1767 ... 48620?s=46

Interesting tweet from Keiran Maguire discussing the proposed spending caps

[Chester Perry]

https://x.com/kieranmaguire/status/1767 ... 48620?s=46

Interesting tweet from Keiran Maguire discussing the proposed spending caps

A lot of that has to do with the UEFA rules already being in place for two years - so the big clubs are already aligned, we should also note that the proposal for know UEFA clubs is a limit of 85%, not 70%, that would give more or less everyone an opportunity, which is what you would expect from members voting for something that would impact themselves directly.

[Chester Perry]

No doubt many of you have seen that Chelsea have reported a £90m loss last season and had a raised eyebrow or two given what they have spent in the transfer market.

Well the new parent company of the club (and its other multi-club partner - there are likely to be more in the stable going forward) has also posted it's first set of accounts on time (take note Alan Pace in regards to Kettering Capital and Calder Vale Holdings) - Blueco 22 Limited (https://find-and-update.company-informa ... ng-history) has made considerably larger losses - £650m to be exact

from The Financial Times

Chelsea Football Club owner made £650mn loss after new player splurge
Investment in players including Fernández, Fofana and Mudryk has not yet paid off on the pitch
https://archive.ph/n3ySn

oh and do not worry about Blueco 22 having previously changed its financial reporting date - that was good practise, the date was moved to synchronise reporting dates with Chelsea FC, the company being formed at the time of takeover meaning they were out of synch.

This comes as no surprise, and we should not forget that the business interests of Chelsea's owners has a number of Saudi investments in them

from The Telegraph

Todd Boehly in Saudi summit meeting with ex-Chelsea director ahead of summer sales
American billionaire is attempting to raise cash by selling players to Saudi Arabia – after club announced pre-tax losses of £90.1 million
https://archive.ph/bRFx4

[Chester Perry]

UEFA have been presenting how the Champions League will look from next season - a key takeaway is that a single league can have up to 7 (seven) representatives in the competition and 11 (eleven in UEFA Club Competitions - is it any wonder Premier League clubs are taking the Europa League/Conference more seriously this year.

from The Athletic

UEFA’s new Champions League: Thursday matches, a ‘seeding table’ and no Saudi teams
https://archive.ph/vWw0C

[Chester Perry]

More reports on the Premier Leagues inability to come to a conclusion on the financial support for the EFL

The Telegraph

‘Shambolic’ Premier League faces backlash after £900m EFL support plan shelved
Funding agreement to help Football League clubs which was first proposed in 2022 has been postponed yet again
https://archive.ph/TA1Ox

the BBC

Premier League clubs fail to reach agreement over EFL funding deal
https://www.bbc.co.uk/sport/football/68537402

The Mail lists the clubs it claims are behind the Premier Leagues failure to agree the 'New Deal for Football'

EXCLUSIVE REVEALED: The TEN Premier League clubs who shot down the new £900m EFL deal... with top flight teams considering legal action if forced to pay the 'unpalatable' and 'unworkable' settlement
Premier League clubs rejected a £900million financial settlement for the EFL
The outfits are considering taking legal action should they be forced to pay
https://www.dailymail.co.uk/sport/footb ... -deal.html
https://archive.ph/2owZP