Football's Magic Money Tree

[Chester Perry]

And if you ever wondered/forgot how a Gianni Infantino led FIFA into this situation here is Sam Wallace of The Telegraph to provide a significant refresher of the detail

Inside Donald Trump’s extraordinary bromance with Gianni Infantino
Fifa chief has done everything to woo US president in staging two World Cups in the country, which hold the key to his legacy
https://archive.ph/zreTr

as for that extraordinarily bizarre press briefing in the Oval Office here is Simon Chadwick in his GeoSport blog to give his geo-political take on it - who would have thought that the institution of Juventus represented by it's players would ever be described as wallpaper

Wallpaper legitimacy, sport washing, and the innocence of bystanders
How Juventus players looked on as US president Trump espoused his views on conflict in the Middle East, and on gender and trans rights
https://profchadwick.substack.com/p/wal ... rt-washing
https://archive.ph/L7Lyd

[Chester Perry]

It is a hot topic on this forum currently, but within this thread it has been a long running matter of concern - it is an issue that the games authorities has allowed to fester and grow without much of an appropriate level of action and even those that have been taken appear to do little more than appease the big groups/clubs and impede the little ones - so no change there

from The Athletic - this nails the problem on hits head really

Crystal Palace and Lyon in Europa League is a problem – but multi-club crackdown is too little too late
https://archive.ph/Yyeak

[Chester Perry]

Many football supporters do not understand FFP in any of it's forms and a sizeable number believe it is essentially a con, particularly when you see some of the work arounds clubs have exercised in the last couple of years. Here we see an overview of all the issues which is a pretty decent introduction for the confused. As a;w.ays what has ensued is down to the choices of club owners and them alone

from The Athletic

Will PSR always lead to the transfer merry-go-round we have seen over the past year?
https://archive.ph/nm59n

[Chester Perry]

there is an inevitability about this and it may well see ALK/Velocity take a stake in Dundee, given that our club has a high probability of dropping to the EFL from time to time

from The Guardian

EFL owners clear to buy Scottish and Irish teams after multi-club rules change
Rules now aligned with other competitions
Deal for Rangers showed difficulties with regulations
https://www.theguardian.com/football/20 ... sh-leagues
https://archive.ph/pLEVM

[Chester Perry]

Ever since the name of John Textor appeared in this thread 3 years ago this month it has appeared that he has scant regard for convention and the rule of law within the game. There have been difficulties at all of the clubs he has interests in and none more so that Olympic Lyonnais where his (in public at least) eternal optimism has finally caught up with him. That said there is still a chance that the decision will be successfully appealed.

from The Guardian - note reference to something I have previously mentioned the 'opaque relationship with Nottingham Forest'

Lyon thought they were too big to fail. Now they face a season in Ligue 2
Ignorance, hubris and exceptionalism have driven a once great football club to the edge of the abyss
https://www.theguardian.com/football/20 ... tball-club
https://archive.ph/63SbL

[Chester Perry]

Most of this we kind of instinctively know but within this article there are some interesting little stats - like a £20m fee (more than our club has ever paid) for a player makes him only worthy as being a ttarter for a club likely to be relegated (18th placed team). There is also further details that can be seen as indicators as why Olympic Lyonnais have fallen foul of the DNCG

from The Athletic

Premier League clubs have the greatest spending power – but it comes at a cost…
https://archive.ph/YNO1R

[Chester Perry]

Once again Burnley return to the Premier League next season, it is also the beginning of a new domestic TV cycle, this one covering 4 years and offing a minor increase in value. for that the Premier League has had to make even more games available to live broadcast - with all non Saturday 3pm games now being shown live. the effect will be similar to this seasons Championship the big teams will rarely see a traditional Saturday kick off time.

here Stefan Borson gives all the intricate detail

Borson goes onto look at the over abundance of live football broadcasts involving domestic teams - and raises the point most fans are concerned about, just how are they going to manage getting to away matches

EXPLAINED: The new Premier League broadcast deal
The Saturday 3pm game is almost dead
https://stefanborson.substack.com/p/exp ... ier-league
https://archive.ph/oBVS9

Martin Cloake picks up on what Stefan Borson had to say about fixture schedules in the above and looks at the implications for those who want to attend the games, including threats to season ticket holders who are unable to attend an imposed number and distances away fans have to travel for mid-week matches - it is problem that has been getting worse and worse for a long time and is actually beginning to affect the TV product

from his Football Fan blog

The game versus the crowd
There is a tension in football that is bubbling under, and smart leadership is needed to deal with it.
https://martincloake.substack.com/p/the ... -the-crowd
https://archive.ph/SrA8j

[Vegas Claret]

Martin Cloake picks up on what Stefan Borson had to say about fixture schedules in the above and looks at the implications for those who want to attend the games, including threats to season ticket holders who are unable to attend an imposed number and distances away fans have to travel for mid-week matches - it is problem that has been getting worse and worse for a long time and is actually beginning to affect the TV product

from his Football Fan blog

The game versus the crowd
There is a tension in football that is bubbling under, and smart leadership is needed to deal with it.
https://martincloake.substack.com/p/the ... -the-crowd
https://archive.ph/SrA8j

it's going to be absolutely grim for supporters that attend games. I don't think it'll be long until we have enough American owners then the likelihood of games abroad in some form will well and truly be on the table

[Chester Perry]

we tend to here more about foreign investors in football that fail rather than those that are successful - Paul Conway of Pacific Media Group was quite prominent in the British media at one time, particularly when he was involved at Barnsley - this tale has come a little as a surprise, but also note that lurking in the background trying to pick at a rotting corpse is Mark Campbell - someone you don't want around your club.

from The Athletic

U.S. soccer investor fighting extradition from Spain, wanted on multiple allegations of fraud
https://archive.ph/YGPGX

[Plissken]

I did quite like the quote in that - "Paul has no criminal record, so we struggle to comprehend why the Belgian Government issued the EAW (European Arrest Warrant)".

Because it is weasel speak at its finest - unless there is a world where people get convicted first and then the authorities issue an arrest warrant.

[Chester Perry]

the trouble with some of these American investment groups is that egos and differences of of opinion can create huge fragmentation in the ownership group though sometimes this may result from a realisation that they have got into partnership with what Kieran Maguire calls a wrong un'. I hesitate to suggest that some are more risk averse than others simply because they are all rather aggressive in what they do - which do you think is the case for Eagle Football.

from the Financial Times

Investors threaten Lyon football club owner John Textor with legal action
Group including hedge fund billionaire Jamie Dinan demand $93mn after French club was demoted this week
https://archive.ph/ONeP5

[Chester Perry]

we know it is here but just what can it be used for as AI begins to be involved - something I predict even during match play (though I think it would be immoral) - at least in the Premier League

from the Financial Times and its new Sports Exchange series

Liverpool’s former data guru on signing Salah and Man Utd’s struggles
For a decade Ian Graham helped drive Liverpool’s analytical approach. Now CEO of Ludonautics, he explains why most clubs are still resistant to change
https://archive.ph/U2rW2

[Chester Perry]

this tale has been brewing for some time - I believe I have posted about it on this thread before - It appears that Nasser al Khelaifi has admitted defeat in a battle - not with football's authorities but with the local authorities of Paris, it may have long term ramifications for PSG too, as one of the world's richest men has partnered with Red Bull as they spy an opportunity

from The Guardian

Nasser al-Khelaifi plays game of risk with plans to move PSG from the Parc
With Paris FC promoted, European champions could lose their monopoly in city if out-of-town move goes through
https://www.theguardian.com/football/20 ... m-the-parc
https://archive.ph/wyYPK

[Chester Perry]

Liverpool have been rejuvenated under the ownership of FSG, and in a number of ways what they have done has been incredibly astute - but they are far from what the clubs own supporters groups would call perfect, having played leading roles in Project Big Picture and the European Super League along with another handful of wrong turns that led to grovelling apologies to a forceful and vocal fanbase.

FSG's Tom Werner talks to The Times and makes the claim that they now have more current reach globally than even Manchester United - though interestingly (perhaps smartly) he doesn't say they have more fans.

A final thing to note his how focused the Premier League's media partner Comcast (who also own SKY) are on the Premier League - I have long talked about the Premier Leagues long maintenance of broadcast partners and this is just a further example of why.

Tom Werner: We believe there could be a billion Liverpool fans worldwide
In a rare interview at Fenway Park, Tom Werner discusses top flight’s boom in the US and his colourful career as a TV executive
https://archive.ph/4iad4

[Chester Perry]

Absolutely no surprise in this story or the timing of it - It is end of Year for Aston Villia's finances - though they say that is not the reason for it, so the sale may come into next years financial reporting.

The sale price will be given credibility by the involvement of a 3rd party in the deal (same as Chelsea) it appears that clubs are learning how to play this game more effectively

from The Athletic

Aston Villa agree deal to sell women’s team to owner V Sports
https://archive.ph/t9eOo

[Vegas Claret]

Absolutely no surprise in this story or the timing of it - It is end of Year for Aston Villia's finances - though they say that is not the reason for it, so the sale may come into next years financial reporting.

The sale price will be given credibility by the involvement of a 3rd party in the deal (same as Chelsea) it appears that clubs are learning how to play this game more effectively

from The Athletic

Aston Villa agree deal to sell women’s team to owner V Sports
https://archive.ph/t9eOo

Once the big clubs have done it they'll close the loophole/ability to do it

[Chester Perry]

Once the big clubs have done it they'll close the loophole/ability to do it

The way women's football is going in England and in Europe - it is only those associated with the big men's clubs that are going to make a go of it anyhow

[Chester Perry]

Could football have a yet more incestuous relationship with betting

from the freshly reprieved (foe now) Josimar Football

Flabet in da house
In an unprecedented move, Flamengo are offering odds on their ‘in-house’ betting platform Flabet and encouraging supporters to gamble on the club’s own matches. Will this be a new trend, elite clubs having their own betting brand?
https://josimarfootball.com/2025/07/03/ ... -da-house/
https://archive.ph/UAITR

[Tricky Trevor]

I’m sure you’ve been all over this but to lazy to scroll back.

IMG_4937.jpeg (457.99 KiB) Viewed 2406 times

[Steddyman]

Birmingham just signed Demari Gray from the Al-Ettifaq. What's the chances they dont get into trouble with spending like this, if they don't go straight up this year.

https://x.com/BCFC/status/1940841623715565870

[Commy]

Birmingham just signed Demari Gray from the Al-Ettifaq. What's the chances they dont get into trouble with spending like this, if they don't go straight up this year.

https://x.com/BCFC/status/1940841623715565870

I watched something on Youtube earlier with Benjamine Bloom and Kieran Maguire. They were talking about Birmingham and PSR and when Benjamine mentioned they would be ok because you can do what you want in league 1 Kieran said last season was now included due to the promotion to the Championship. They could be well over if it does count.

Just looked it up and it does count.

Impact of League One Spending:
Any spending or losses incurred during the League One season, even if within the SCMP guidelines, will be factored into the Championship's PSR calculations for the subsequent three-year period. This means that excessive spending in League One, even if not a breach of SCMP, could contribute to a club exceeding the PSR limits once promoted.

[Chester Perry]

A useful and informative read around the sale of associated women's teams and how it helps with PSR (in the short to medium term)

Note: as BFC Women is currently a dormant business with the operation entirely funded by the men's side it cannot be sold in this sate -though it would be relatively easy to change that - not that the operation is really worth anything meaningful at this time

from The Athletic

Why are Premier League clubs selling their women’s teams? And which club could do it next?
https://archive.ph/vIgM6

[Chester Perry]

It really should not come as a surprise that the clubs voted against this ruling - even though it does not count in UEFA club competition rules - the petty fines there mean clubs are actually costing them in to the overall benefit equation, the fact that the Premier League would dock points for PSR failure means that such asset sales are to continue

from the Guardian

Premier League opts not to change rules that helped Chelsea comply with PSR
Lack of support among clubs leads to no vote at AGM
Rules allowed Chelsea to sell hotels at Stamford Bridge
https://www.theguardian.com/football/20 ... y-with-psr
https://archive.ph/wip/y9GcB

It seems that UEFA is slowly beefing up it's fines and punishments for those clubs that fail to meet its financial rules - there appears to be an element of La Liga's approach to how much club's are allowed to spend - I trust Stefan Borson will be along in the next day or so to give a clearer explanation - meanwhile both Aston Villa and Chelsea have some off field challenges to face in Europe next season

It is no surprise to see Barcelona join them


from The Guardian

Chelsea face doubts over registering signings with Uefa after £27m fine
Aston Villa and Barcelona also punished over finances
Villa confident they can absorb fine and strengthen
https://www.theguardian.com/football/20 ... e-breaches
https://archive.ph/l9jyE

[Corway]

Chelsea agreed to a settlement which will see them pay an unconditional fine of €20m (£17.3m) for not complying with their 'football earnings rule’ which was assessed for the first time in the 2024-25 season. That could increase to €80m (£69m) if they do not comply with targets set by UEFA.

The Blues will also pay a further €11m (£9.5m) fine for breaching the ‘squad cost rule’.

Villa have also agreed to their own settlement of a €20m (£17.3m) fine, of which €5m (£4.3m) is unconditional, for failing to comply with the ‘football earnings rule’ and a further €6m (£5.2m) for breaching the ‘squad cost rule’, which permits clubs to spend no more than a fixed proportion of their revenue on transfers and wages.

Last season, that was 80 per cent but will be 70 per cent this year.

[Chester Perry]

It is always good to know more about the owners of clubs - particularly if that club has upended the established hierarchy and be very punchy (to the point of being very aggressive) with the games authorities and rules in the way Manchester City have.

The New York Times with an extensive look at Sheikh Mansour bin Zayed al-Nahyan

The Sheikh Who Conquered Soccer and Coddles Warlords
The Emirati vice president is best known as the owner of Manchester City, a top English soccer team. Behind the scenes, he has been described as the “handler” guiding his country’s secret foreign wars.
https://archive.ph/tfCnM

[theduke]

Apparently Everton have also sold their women's team to themselves.

Just haven't announced it

[Chester Perry]

For those of us who are old enough this has echoes of 'The Big Match' - how it would work would be interesting - the only fair way would be for every club to be represented once, but that is not how the media works and I would be surprised if this ever gets off the ground, It smells of politicians making a play to the electorate and of being nearly 35years too late

from The Telegraph

MPs to vote on making Premier League games free-to-air
Liberal Democrats want to tackle high subscription prices with pledge to make at least 10 top-flight matches a season available for free
https://archive.ph/bslqz

[No Ney Never]

Another sad example of Britain's benefit culture.

[rufus lumley]

If it was in place this season the teams involved would be
Burnley
Fulham
Brighton
Palace
Bournemouth
Sunderland
Brentford
Forest
Wolves

[Chester Perry]

For those of us who are old enough this has echoes of 'The Big Match' - how it would work would be interesting - the only fair way would be for every club to be represented once, but that is not how the media works and I would be surprised if this ever gets off the ground, It smells of politicians making a play to the electorate and of being nearly 35years too late

from The Telegraph

MPs to vote on making Premier League games free-to-air
Liberal Democrats want to tackle high subscription prices with pledge to make at least 10 top-flight matches a season available for free
https://archive.ph/bslqz

No surprise that the above vote failed, as did one on alcohol in sight of the pitch are that the Football Governance Bill passed with a large majority
from the BBC

MPs vote to establish independent regulator for men's football in England
https://www.bbc.co.uk/sport/football/ar ... 2gd25ydzwo

[Chester Perry]

The debt held by Eagle Football - John Textor's multi-club investment group is largely know, though the interest rates revealed hear are ludicrous. What has not known s clearly were the debts held by the clubs which Eagle control - It is interesting that Textor argues that those debts do not really belong to the group, that only works if you sell the club with it's debt.

from The Telegraph

Revealed: The £880m debt hanging over former Crystal Palace investors Eagle Football
After Lyon successfully overturn relegation, London club remain vulnerable to losing European spot under Uefa’s multi-club ownership rules
https://archive.ph/Nhu6k

[Chester Perry]

Depending on where you are in the world your view as to the merit/success of FIFA's Club World Cup - though no one is surprised to hear that Gianni Infantino believes it is a huge success.

It is perhaps more important to consider what is to follow, some of which I have been trailing for several years. Here Miguel Delaney runs though a list of ideas/plans that appear almost all intent on breaking Europe's very long standing traditions and stranglehold on the games riches.

from the Independent

What comes next? Inside Fifa’s grand plan after Club World Cup
Fifa president Gianni Infantino has been delighted with how the revamped Club World Cup has gone, writes Miguel Delaney, but he has no intention of stopping there, with even bigger plans already afoot
https://www.independent.co.uk/sport/foo ... 87050.html
https://archive.ph/xHttO

[Chester Perry]

Simon Chadwick with a new blog talking about the cultural power of sport and how certain Athletes are using their knowledge and understanding to lift them to the forefront of this shaping going forward

What does cultural power look like? Well, Kevin Durrant
Basketball star's PSG stake illustrates the continuing growth of sport's symbolic economy
https://profchadwick.substack.com/p/wha ... -look-like
https://archive.ph/gMttJ

if you find this kind of subject matter then I suggest you check out the Gameplayer substack (https://gameplayer.substack.com/) from Jordan Wise who has a number of interesting observations over his last few posts - this from last week has particular resonance I feel, and should be taken on board by our club's owners

Most Clubs Still Don’t Understand Brand. That’s Why Fans Feel Nothing
Why most clubs are still mistaking content for connection.
https://gameplayer.substack.com/p/most- ... understand
https://archive.ph/tvQg7

[Chester Perry]

Grimsby Town owner Jason Stockwood may well be a tad over-optimistic about the implementation of the Football Governance Bill and the instalation of an Independent Football Regulator - he does come up with a pharase I feel I will be using a lot going forward - 'football has an unusual emotional gravity'

from The Guardian

Football governance bill’s passage can create a fairer game at every level
Despite objections from the Premier League, a regulator tasked with protecting the whole of the sport has moved a significant step closer to reality
https://www.theguardian.com/football/20 ... e-very-top
https://archive.ph/BWkcw

[Chester Perry]

there is so much that I have not posted about FIFA's Club World Cup and particularly the stuff that is going on around it - such as FIFA's new US offices (opened in this last week) in Trump tower of all places

Here Oliver Kay of The Athletic looks at how tonight's final is really a precise reflection of the current state and direction of the world's game

PSG and Chelsea in the Club World Cup final reflects the state of the game in 2025
https://archive.ph/xIK5N

[Chester Perry]

This feels more like a pub/podcast discussion, particularly given the way calculations are made - which also mean that clubs at the highest levels are more likely to be negatively affected. It is real summer/no domestic football filler chat

from The Athletic

‘Lost’ transfer fees – Revealing the clubs who have missed out most on future sales
https://archive.ph/dQmSd

[Chester Perry]

You may have seen that FIFA have decided new rules on player time off without actually inviting the major player's unions to the discussion

Here The Financial Times talk to the new head of FIFAPRO the biggest player union - don't let the title distract you, what they are fighting for at this time is that all important seat at the table - the rest is some way down the line. It is also interesting given the record of FIFA and its Confederations that it believes exemplary governance practises are the way to get them that seat.

Football heading for ‘collective bargaining’, says head of players’ union
Alex Phillips, the secretary-general of Fifpro says footballers are scapegoated, overworked and excluded from decisions — while true power remains with clubs and owners
https://archive.ph/BDVUj

[Chester Perry]

You may have seen that FIFA have decided new rules on player time off without actually inviting the major player's unions to the discussion

Here The Financial Times talk to the new head of FIFAPRO the biggest player union - don't let the title distract you, what they are fighting for at this time is that all important seat at the table - the rest is some way down the line. It is also interesting given the record of FIFA and its Confederations that it believes exemplary governance practises are the way to get them that seat.

Football heading for ‘collective bargaining’, says head of players’ union
Alex Phillips, the secretary-general of Fifpro says footballers are scapegoated, overworked and excluded from decisions — while true power remains with clubs and owners
https://archive.ph/BDVUj

As if to prove my point about exemplary governance not being something that will impress FIFA - this article from The Guardian makes clear that while the PFA and FIFAPRO were not part of the discussions, expelled former member organisations and voted off leaders were.

Fifa dispute with global players’ union escalates over rest period decision
No one from Fifpro present at Fifa meeting in New York
Fifa says players should have 72 hours ‘at least’ between games
https://www.theguardian.com/football/20 ... rs-burnout
https://archive.ph/NK55m

[Chester Perry]

Something that I have posted about for years now - with the desire to expand club football at global and continental level - it is domestic football that will pay the price. So given the autocratic distanced nature of FIFA in particular, it is no surprise that European Leagues are taking legal action against FIFA

from The Telegraph

Premier League beware – Gianni Infantino and the Club World Cup are coming for you
Fifa president realising global super league dream would sound death-knell for either domestic competitions or Champions League
https://archive.ph/SGvRi

[Chester Perry]

this feels topical - and a lesson that very few seem to realise, including the current owners at our club I would argue, who went against almost everything stated here when they arrived as even Sean Dyche acknowledged in the recent 'From the Bee Hole End' podcast

from the Gameplayer blog of Jordan Wise

What They Don’t Tell You About Owning a Football Club
The Hidden Playbook Behind Real Football Success
https://gameplayer.substack.com/p/what- ... out-owning
https://archive.ph/oLlTv

[Paul Waine]

this feels topical - and a lesson that very few seem to realise, including the current owners at our club I would argue, who went against almost everything stated here when they arrived as even Sean Dyche acknowledged in the recent 'From the Bee Hole End' podcast

from the Gameplayer blog of Jordan Wise

What They Don’t Tell You About Owning a Football Club
The Hidden Playbook Behind Real Football Success
https://gameplayer.substack.com/p/what- ... out-owning
https://archive.ph/oLlTv

This is a very good article. I recommend everyone looking at this thread to read this article.

UTC

[Chester Perry]

Interesting piece in the Guardian about the increasing demands fans of Premier League clubs residing in Asia have - getting the balance right between domestic and international fanbases is one of the greatest challenges clubs in the big leagues are going to face given the very different standpoints and cultural references they have.

Premier League fans in Asia want to feel valued – and not just as a source of revenue
Pre-season trips to Asia may not be new for English clubs, but they remain a huge global engagement opportunity
https://www.theguardian.com/football/20 ... of-revenue
https://archive.ph/4LyfG

[Chester Perry]

Opinions of Multi-club operations will vary - we have long known that the owners of our club had aspirations in this direction - but it should have been easily prevented if the games governing bodies had moved to prevent it as it began years ago. As we know. that is not the way that governing bodies work, not when big clubs that they rely on so much are involved/

Here Josimar Football outline how weak UEFA's rules are (at least for the big clubs) in dealing with multi-club operations in it's own competitions

Bend it like Uefa
Are you a club owner looking for how to bend the rules of multi-club ownership? Just ask Uefa, and they will tell you how to circumvent their own rules.
https://archive.ph/3lyQ3

[Chester Perry]

So this is an intriguing twist on UEFA's dithering about it's multi-club rules and approach. The intriguing element is the ECA, who have had UEFA in thier pocket both pre and post Super League - it is why there are now so many games in European Club competitions.

I suspect that this will do Crystal Palace no good in their quest to participate in the Europa League next season - though that will not be because Crystal Palace are founder member id the European Union of Clubs, arch critics of the ECA/UEFA partnership

from The Telegraph

The email that could save Crystal Palace
Exclusive: Clubs were advised that they had much longer to solve multi-club ownership issues than Uefa has claimed
https://archive.ph/Culod

[Chester Perry]

As if to prove my point about exemplary governance not being something that will impress FIFA - this article from The Guardian makes clear that while the PFA and FIFAPRO were not part of the discussions, expelled former member organisations and voted off leaders were.

Fifa dispute with global players’ union escalates over rest period decision
No one from Fifpro present at Fifa meeting in New York
Fifa says players should have 72 hours ‘at least’ between games
https://www.theguardian.com/football/20 ... rs-burnout
https://archive.ph/NK55m

In the context of the above, this is very interesting stuff and an exemplar of how FIFA trats those who actually facilitate the business and development of the beautiful game.

It forms part of an interesting commentary on governance in the game - from Pitchside Sports Consulting

Billions on the Field, No Vote on the Future: Why Football Leagues Remain Outside the Decision-Making Core
A 4-minute read for Legal Executives | Club Executives | League Governance Actors | Players Associations | Sports Law Educators | and anyone shaping football governance from policy to pitch.
https://andrewmwernersllbllm.substack.c ... no-vote-on
https://archive.ph/EqTxL

If you find this interesting an informative there are a number of other articles in the series about football governance that you can find here

https://andrewmwernersllbllm.substack.c ... e?sort=new

[Chester Perry]

I must say that I am little surprised that it has taken so long for this to be acknowledged within government

from The Independent

Football clubs and agents named as ‘emerging risk’ in money laundering report
Football’s ‘hidden nature’ was raised as a specific issue in the annual report
https://www.independent.co.uk/sport/foo ... 91065.html
https://archive.ph/wip/E8fh1

you can access the full report - National Risk Assessment of Money Laundering and Terrorist Financing 2025 - here
https://assets.publishing.service.gov.u ... _FINAL.pdf