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Football Finance

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Rangers need more funds

Rangers are to launch a new share issue to raise funds after they revealed losses of £8.3m in the period to 30th June.   This was a substantial improvement on the £14.4m loss reported in the previous year. However, they will need the first tranche of money in January to continue trading.

SFA's concern about Rangers

Scottish Football Association chief executive Stewart Regan has expressed his concern about the financial situation at Rangers because of its impact on Scottish football as a whole and the local economy.

Usmanov criticises Wenger

After a period when tensions between Alisher Usmanov and the Arsenal board seemed to have subsisded, he has returned to the fray with a critique of Arsene Wenger.   Usmanov is the club's second largest shareholder with almost 30 per cent of the shares.

Bid to revive Salisbury City

Steve Claridge is involved in a bid to get Salisbury City playing football again.   Guiding the consortium is sports writer Ian Ridley for whom Claridge was player-manager at Weymouth.   Their partnership was the subject of a 'fly on the wall' television programme.  

Bayern pay off stadium debt

Further evidence of how well run Bayern Munich is as a club comes with the news that they have paid off the debt on their Allianz Arena stadium.   The debt of £346m was taken out in 2005 and was supposed to be paid off over 25 years rather than just nine.

All this has been achieved alongside success on the pitch.   However, as always, a note of caution is needed about the 'German model'.   It doesn't always translate easily elsewhere.

Spanish court strikes blow at financial fair play

We have argued for some time that financial fair play (FFP) rules at the European and domestic level are open to legal challenge.   In an order of November 17th the Spanish Commercial Court has struck a blow at the rules of La Liga on FFP.

La Liga had penalised Getafe by preventing them from playing Pedro León.   They argued that by doing so it would have exceeded the total amount of money it could pay to players under the Spanish FFP rules. The Court was asked for an interim measure to allow him to play.

United hit by lack of Champions League money

Absence from the Champions League is starting to affect Manchester United's finances.  Revenue was down by just under 10 per cent in the three months to the end of September at £88.7m.   In particular, the club made less from its deal with Nike because it was not in the Champions League.

Could Championship sides be 'priced out of promotion'?

Ipswich Town boss Mick McCarthy has complained that teams like his could be 'priced out of promotion' by the recent dilution of the Football League's Financial Fair Play (FFP) rules.   The current Ipswich squad was assembled at a total cost of £10,000 in transfer fees.

Bury involved in high interest loan

Journalist David Conn is a past master at ferreting out worrying financial developments and in football and has written an interesting in depth article about developments at Bury FC.

Bury have always struggled in the shadow of the two big Manchester clubs and their last set of accounts showed a £724,688 loss on income of £2.7m.    Property developer Stewart Day had to step in to settle their latest financial crisis.

Chelsea to announce record profit

Chelsea are to announce a record profit of £20m in the year to 30 June.   They have only once before made a profit in the Abramovich era, a modest £1.5m two years ago.   This means that they will have no difficulty in complying with financial fair play (FFP) rules.