Corinthians losses hit record €29m as wages cut and stadium costs weigh heavy
May 5 – Brazilian giants Corinthians registered a record loss of €29.4 million last season, aggravating the financial crisis at the club.
Finance
Broadcasting hike enables English FA to bounce back into profit
By David Owen
April 29 – New broadcasting deals enabled the Football Association to bounce back into profit while boosting investments in the English game by almost 30% to £165.6 million during the year to end-July 2019.
US investors Pacific Media Group add to club holdings with completion of KV Oostende buy
April 29 – After prolongated negotiations, American investment group Pacific Media Group (PMG) has become the new owner of struggling KV Oostende.
Show me the money: UEFA’s €236.5m trumps FIFA’s $150m
April 28 – When it comes to standing on wallets UEFA clearly has a much bigger one than FIFA. Hours after FIFA announced a $150 million Covid-19 support package for its 211 member associations, UEFA trumped them by more than $85 million, releasing €236.5 million to help its 55 member associations.
Bundesliga secures media cash release for clubs, but risks penalties if restart is cut short
April 24 – Germany’s Bundesliga has secured agreements with its major broadcast partners that will enable the league to release money to all Bundesliga and Bundesliga 2 clubs.
beIN urges Premier League to think hard before rubber stamping Newcastle’s Saudi sell-out
By Andrew Warshaw
April 22 – In a highly unusual move, the English Premier League has been urged by one of its major broadcast partners as well as one of the world’s leading human rights organisations to consider blocking a Saudi-backed consortium’s bid to buy Newcastle United.
Belgian court winds up Lokeren with €5m debt outstanding
April 21 – Sporting Lokeren has been declared bankrupt by a local commercial court after the Belgian club failed to find new investors to solve its debt crisis.
EFL Championship clubs face financial meltdown in post-Covid-19 new world
April 20 – The English Football League’s announcement that games in its three divisions will return behind closed doors once government Covid-19 restrictions allow, will not solve what is an increasingly worrying financial health picture for the three tiers of professional football below the Premier League.
Juventus digital fan token gains 17% in first 90 minutes of trading
April 17 – The Juventus fan token ($JUV) just launched on the Chiliz.net platform saw 24 hour total trading volume pass $600,000 with $JUV volume over $250,000.
Leeds plunge deeper into the red in pursuit of Premier League promised land
By David Owen
April 17 – Leeds United, one-time giants of the English game who were lying top of the second-tier Championship when the season was put into cold storage because of coronavirus, have posted a big loss for the 2018-19 financial year.
Ashley closing in on £300m sale of Newcastle to Saudi-backed group
April 15 – The on-off sale of Newcastle United, one of English football’s best supported sleeping giants, has moved a significant step closer with reports that a £300 million deal has been agreed.
David Owen: Will the big clubs live to regret their growing remoteness from local fans?
One of the hallmarks of Big Football over the past 30 years is how remote mega-clubs have got from supporters.
Saints accounts reveal jump in directors’ pay
By David Owen
April 14 – Directors’ remuneration at Southampton almost doubled last season, as the south-coast club ran up a pre-tax loss of £41 million.
Footy.com price comparison site raises £1.6m for global expansion
April 8 – A football merchandise price comparison website based in the north-east of England has secured a £1.625 million round of investment to fund its global expansion plans.
Bundesliga explores option of turning to capital markets to raise $300m
April 3 – The Bundesliga is reportedly looking at private equity firms to raise finance of up to $330 million to help cashflow the league and its clubs through the Covid-19 crisis.