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Ben Hayes - Charlton Athletic programme

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Serious financial problems at Everton

The seriousness of Everton's financial problems have been revealed in the transcript of a meeting between chairman Bill Kenwright and the supporters' coalition Blue Union.   The publication of the transcript has been a serious embarrasment and the possibility of legal action against Blue Union is being considered.

Fernandes seals QPR deal

Malyasian entrepreneur Tony Fernandes has completed his takeover of Queens Park Rangers.  He has bought out the stakes of majority shareholders Bernie Ecclestone and Flavio Briatore giving him a 66 per cent stake in the club.  


QPR said Mr Fernandes would become chairman and Amit Bhatia, the son-of-law of steel entrepreneur Lakshmi Mittal, who owns the remainder of the club, would return as vice-chairman.  He resigned in May angered by board decisions to sack former chief executive Ishan Sakesensa and to increase ticket prices.

Uefa to scrutinise City deal

Manchester City's sponsorship deal with Etihad Airways is to be scrutinised by Uefa's financial fair play panel.   The deal was rumoured to be worth £400m, but City have said that that figure is not accurate.

Tax hike angers Italian footballers

Italian footballers are up in arms about a new 'solidarity tax' imposed on those earning more than €150,000 a year as part of the Government's austerity package.   The start of Serie A on August 27th is already threatened by a contract dispute.

QPR announcement expected today

An announcement that Air Asia entrepreneur Tony Fernandes has acquired a majority stake in Queens Park Rangers is expected today.   Most reports refer to a 51 per cent holding, but another possible formula is a 56 per cent stake for Fernandes while Lakshmi Mittal would increase his stake to 43 per cent.   He and Fernandes are reported to have struck up a good relationship.

Argyle takeover by end of week

With Plymouth Argyle experiencing a faltering start to the season, joint administrator, Brendan Guilfoyle, has reiterated that he expects the takeover to go through by the end of this week.

Guilfoyle said: 'We asked of proof of funds from BIL, which is the company that Kevin Heaney's behind, and we haven't had proof of funds [yet], but what we have had from his solicitors is evidence of a funding line that he's working on and there's some due diligence going on.'

United to float in Singapore?

A report in the Wall Street Journal and quickly picked up by other media suggests that Manchester United is to float a  stake in the club on the Singapore stock exchange in the autumn.   The exact amount to be offered is not known, but the figure of 25 to 30 per cent has been mentioned.  Credit Suisse have been appointed as advisers to the float, but are refusing to comment. 

Hearts to settle tax debt

Hearts are to settle a tax debt after Revenue and Customs had threatened to start proceedings to put the club into administration.   It is the second time in two years that the SPL club has been threatened with a winding up order.  It is believed that the sum to be paid over by the club is in the region of £200,000.

Make or break day for QPR deal

Today could be make or break day for the bid by Malaysian airline entrepreneur Tony Fernandes to take control of Queens Park Rangers.   A deal is close to being finalised but has not been sealed and could be delayed or even collapse as the parties seek to reach agreement on final details.

Reading owner makes sales pitch

Reading's owner Sir John Madejski made what was effectively a sales pitch for the football club in an interview in The Sunday Times Business News yesterday.   But he also made it clear that he would not sell the club to anyone.