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Finance

Barca CEO says ESL was a move against state-backed clubs to find a better money model

October 7 – FC Barcelona have formally reported their mammoth loss of €481 million for the 2020-21 season, with CEO Ferran Reverter going on the record saying that the Catalans backed the breakaway Super League as their life raft to a more sustainable financial model in the long run. 

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Finance

Glazers put 9.5m Man Utd shares on sale, valued at $186.6m

Man Utd3

October 6 – The Glazer family, Manchester United’s owners, have put up another 9.5 million shares, with a value of $186.86 million for sale.

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Finance

Premier League clubs discuss a central loan fund to access cheaper interest rates

October 6 – Premier League clubs are reportedly calling on the league to establish a central loan fund of at least £1 billion to allow them to access cheaper loans than are currently being made available.

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Finance

ALK makes hybrid cash/credit offer for Burnley fan shares

October 6 – Burnley’s owner ALK Capital has offered to buy the remaining shares owned by the club’s supporters.

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Finance

Ajax losses hit €8.1m for covid season without fans

October 5 – Ajax Amsterdam has reported an €8.1 million loss for the 2020/21 season, a deficit the Dutch club attributed to the Covid-19 pandemic and a season where most of the matches were played without fans.

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Finance

Pandora Papers: Guardiola paid his 2012 Qatari wages into a tax-avoiding Andorra account

October 5 – Manchester City coach Pep Guardiola has been named in the Pandora Papers, with accusations that he held money in an offshore account in Andorra to avoid paying tax.

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Finance

Barca report €481m losses but says wage cuts and Nou Camp reopening will return profit

October 5 – FC Barcelona has confirmed losses for the covid-hit 2020/21 financial year at €481 million after tax. Revenue for the year was €631 million while expenditure had boomed to a massive €1.136 billion.

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Finance

Inter Milan losses top €246m for covid-hit season

October 1 – Serie A champions Inter Milan have posted a mammoth loss of €246 million for the 2020/21 financial year. 

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Finance

Buyers lining up for Derby takeover, says administrator

Derby County

September 27 – Administrators for English Championship side Derby County say there is a “considerable degree of interest” in purchasing the club despite them being deducted 12 points and plummeting to the bottom of the table.

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Finance

Serie A’s Genoa sold to US investors 777Partners for $178m

September 24 – Genoa, Italy’s oldest professional football club, has become the sixth team in Serie A to come under US ownership. Two other clubs in Serie A have foreign ownership.

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Europe

UEFA doubles Women’s Euro 2022, prize money; increases men’s club solidarity payments

uefa flag

September 23 – UEFA’s Executive Committee has doubled the prize money for the Women’s Euro 2022 championships as well as revamping its solidarity payments for the men’s club game.

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Finance

Derby docked 12 points as losses mount and administrator scrambles to find a buyer

September 22 – Derby County, league champions twice in the 1970s and one of the grand old teams of English football, have been hit with a 12-point deduction after falling into administration.

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Europe

Cambodian prince offers €100m for Saint-Étienne

September 22 – Cambodian prince Norodom Ravichak has expressed interested in taking over Saint-Étienne, reportedly offering €100 million for the Ligue 1 club. 

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Finance

Beckham and Mas brothers take InterMiami control with Ares-backed deal

September 21 – Ares Management Corporation, an American global alternative investment manager, has closed a $150 million preferred equity deal with Inter Miami CF. 

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Finance

Bleeding out: Juve to seek new money after posting record losses of €210m

September 20 – Juventus have recorded a mammoth loss of €209.9 million for the 2020/21 season, but still remain convinced of a future European Super League as the solution to the club’s deep financial problems. 

Read more …

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