US money comes to Reading rescue as Chinese owner leaves in disgrace
May 5 – Reading have announced an agreement in principle with US investor Rob Couhig’s company, Redwood Holdings Ltd., to acquire the club.
Tag: finance
Leyton Orient aim to write East End rags to riches story under new US owner
April 30 – Based in East London, Leyton Orient have been a roller-coaster club over the past five decades, bouncing through the tiers of the English football pyramid. However, US media investor David Gandler aims to change that trajectory after acquiring a majority stake in the club.
Another Texan billionaire touches down in the Premier League at Everton
April 25 – Premier League clubs continue to attract U.S. investment, with American billionaire Christopher Sarofim, a minority shareholder in the National Football League’s (NFL) Houston Texans, becoming the latest convert to the ‘round-ball game’.
Quantuma breaks ground with Pendragon to save Dumbarton from liquidation
April 15 – Scottish League One club Dumbarton FC are set to exit insolvency proceedings following a deal struck by administrators Quantuma with Gareth Phillips of the Pendragon Group.
Bulgarian clubs in financial crisis with nine in top tier under threat of losing licenses
April 14 – The financial crisis in Bulgarian football is taking on new dimensions. The president of the Bulgarian Football Union, Georgi Ivanov (pictured), has revealed a worrying trend amongst top tier clubs, many of whom face losing their licenses due to financial.
Zingarevich to hand 30% of Botev shares to fans’ trust to manage sale
April 7 – Botev Plovdiv owner Anton Zingarevich has taken another step towards releasing a 30% stake in the club. A few days ago the Russian businessman announced that he intends to sell the shares to fans. Now he intends to give them away.
FC32 ends financing of Austria’s SKN with immediate effect. Are Cobh Ramblers next?
April 4 – US-backed club investor FC32, led by Australian Paul Francis, which was buying its way into lower tier European clubs in a bid to develop and sell playing talent, has pulled out of second tier Austrian Club SKN St. Polten at short notice.
Chelsea offload Women’s team to Boehly and Clearlake’s Blueco, turning £90.2m loss into a £128.4m profit
April 2 – Premier League Chelsea have turned a £90.1 million pre-tax loss in 2022-23 into a £128.4 million profit 2023-24, mainly by selling core assets to its owners.
Player sales put Nottingham Forest £12.1m into the black
April 2 – Nottingham Forest have reported a pre-tax profit of £12.1 million for the 2023-24 financial year, driven by £100 million in player sales. Despite recording an operating loss of £73.3 million, the club’s strong transfer market activity – including the £47.5 million sale of Brennan Johnson to Tottenham Hotspur—converted financial red into black.
Hollywood favourite Wrexham welcomes revenue boost with overseas income outstripping domestic
April 2 – Wrexham AFC has reported record-breaking revenues of £26.7 million for the 2023-24 season—outpacing many Championship clubs and setting a new financial benchmark for a League Two side. This represents a staggering 155% increase from last year’s £10.5 million and dwarfs the League Two average of £5.4 million, according to Deloitte’s most recent football finance review.
Reading on brink of bankruptcy as sale stumbles. Saad Kassis-Mohamed offers unlikely lifeline
March 28 – Gulf-based entrepreneur and philanthropist Saad Kassis-Mohamed has emerged as a potential investor in Reading FC, as the crisis-hit English third-tier club teeter on the edge of administration. His interest comes amid an increasingly desperate ownership battle, with time running out for the Royals to find a financial lifeline.
Everton refinance £350m of Bramley-Moore Dock stadium debt
March 26 – Premier League Everton have secured a £350 million financing package to refinance the costs of building their new stadium at Bramley-Moore Dock, a move that is expected to save the club tens of millions of pounds annually in debt repayments.
Validsign’s John Lagemen pulls out of Ado Den Haag acquisition
March 21 – Dutch club Ado Den Haag have confirmed that the proposed acquisition by businessman John Lageman has been called off.
Canadian investor Alex Haditaghi saves Pogon Szczecin from bankruptcy at last minute
March 17 – Iranian-Canadian businessman Alex Haditaghi has acquired Polish side Pogon Szczecin in a move that will “save the club”.
European club revenues hit €26.8bn in 2023 but costs are rising, finds UEFA report
March 7 – European football is raking in more cash than ever, but UEFA’s latest Club Licensing Benchmarking Report warns that clubs are walking a financial tightrope. While revenue hit a record €26.8 billion in 2023—up nearly €3 billion from the previous year—so did costs, squeezing operating margins across the board.