Finance – Inside World Football

FIGC completes investigation into Juve ‘hidden payments’ investigation

Paul Nicholson — Thu, 13 Apr 2023 06:13:18 +0000

April 13 – The Italian FA (FIGC) has completed its investigation into Juventus over alleged hidden payments to players, according to the club.

Juventus, who have already been hit with a 15-point Serie A deduction this season in a separate case over players’ transfers, could face further sporting penalties if found guilty.

FIGC prosecutors allege that Italy’s most successful team agreed to pay players back most of their COVID-19 related wage cuts without properly accounting for it.

Ownership change brings £50m cash windfall for Abramovich era Chelsea directors

Paul Nicholson — Tue, 11 Apr 2023 12:25:08 +0000

By David Owen

April 10 – Chelsea’s new US owners made payments totalling nearly £50 million to former directors of the West London club for services relating to the protracted £4.25 billion sale that last year brought down the curtain on the trophy-studded but controversial Roman Abramovich era.

Details of the £49.75 million payments are disclosed in newly-published accounts for the year to end-June for the recently renamed corporate entity,

Bundesliga clubs report €4.48bn revenue as pandemic effects recede

Paul Nicholson — Sun, 09 Apr 2023 17:40:38 +0000

April 9 – The DFL is reporting an increase in the total revenue of German professional football to €4.48 billion in the 2021-22 season, the first increase since the pandemic.

The 2023 DFL Economic Report attributes the increase to the return of fans to the 36 clubs in the Bundesliga and Bundesliga 2. However, it points out the while the aggregated figure is a 10.5% increase on the 2021-22 season, it is still about €325 million less than €4.8 billion posted for the 2018-19 season,

European clubs lead global ranking of most valuable U-23 players outside Big 5 Euro leagues

Paul Nicholson — Thu, 06 Apr 2023 04:06:22 +0000

April 6 – Benfica centre-forward Gonçalo Ramos (€70 million) and centre back António Silva (€66 million) top a ranking of the highest value players under the age of 23 and playing for clubs outside the Big 5 European leagues.

The ranking of 100 U-23 players compiled by the CIES Football Observatory lists Sporting CP centre back Gonçalo Inácio ranked third (€62 million) and another centre back, Jurriën Timber (€57 million) from Holland’s Ajax,

Belgian tax collectors chase non-profit Genk for €39m

Paul Nicholson — Wed, 05 Apr 2023 05:20:39 +0000

April 5 – Belgian tax authorities are chasing €39 million from league leaders Racing Genk, arguing that the club’s legal status as a non-profit does not exempt it from paying corporation tax.

In a note in the yearly accounts, the club reveals that authorities are claiming the sum in a conflict that revolves around Racing Genk’s non-profit status. In the past, a significant number of Belgian clubs were classified as non-profit, but with the professionalisation of the game and its administration almost all top clubs have become companies.

Levski Sofia fans donate to help with €5.5m tax bill, as club launches share offer

Paul Nicholson — Wed, 05 Apr 2023 05:10:48 +0000

April 5 – Supporters of Bulgaria’s Levski Sofia have raised over BGN 243,000 (€121,000) to help the club in pay off its debts to the National Revenue Agency (NRA).

A few weeks ago, the clun management opened a special account and appealed to fans to donate money to help repay the club’s tax debts. Every week, Levski announces how the campaign is going, but after the promising start, in the last week the fans have donated just BGN 4,000 (€ 2,000).

Reading plunged into relegation battle after points deducted for breach of EFL’s financial rules

Paul Nicholson — Wed, 05 Apr 2023 03:28:23 +0000

April 5 – EFL Championship side Reading have been handed an immediate six-point deduction for breaking agreed budget restrictions after a previous breach of the EFL’s profitability and sustainability rules.

The club have been under a transfer embargo since the summer of 2021 as a result of the breach and now find themselves just a point above the relegation zone.

The club agrees a business plan with regulators following a breach of the EFL’s profit and sustainability limits in 2021.

Everton trim losses – but accounts lay bare critical importance of beating the drop

Paul Nicholson — Mon, 03 Apr 2023 06:03:37 +0000

By David Owen

April 3 – The sales of World Cup star Richarlison and Lucas Digne have enabled Everton to report a reduced loss of £44.7 million for the 2021-22 season. This follows three consecutive years of £100 million-plus losses at the pre-tax level.

However, a close reading of the Toffees’ new financial report can have left supporters with few doubts about how dire the consequences of relegation from the Premier League for the 145-year-old Merseyside club – currently 18th ahead of a home game against Spurs on Monday night –

High-flying Magpies ran up £73m loss in Ashley’s last year

Paul Nicholson — Mon, 03 Apr 2023 05:46:06 +0000

By David Owen

April 3 – Newcastle United have produced accounts covering the club’s first nine months under the ownership of an investment group led by Saudi Arabia’s Public Investment Fund (PIF).

The Magpies ran up a pre-tax loss of £72.9 million for the year to end-June 2022, as the costs of trying quickly to build a more consistently winning team outran the pace of revenue gains.

While turnover rose by nearly £40 million compared with the prior period of 11 months to reach £180 million,

Flamengo break revenue records and target further growth with new league

Paul Nicholson — Mon, 03 Apr 2023 05:43:34 +0000

April 4 – Brazilian club Flamengo keeps breaking records. In 2022, the Rio outfit’s revenues broke the 1 billion reais revenue mark for the first time.

At €192 million, the record revenue sees Flamengo break into the top 30 ranking of major clubs around the world in the Deloitte Football Money League. Flamengo sits in 26th position in the ranking, leaving Crystal Palace, Ajax Amsterdam, Sevilla, and Villareal behind.

“It reinforces the club’s desire to be a protagonist on the world stage and demonstrates that we still have a long way to go and that Brazilian football as a whole can deliver a better quality product to its fans that generates greater value for its entire market,” Flamengo financial director Fernando Góes told Brazilian broadcaster Globo.