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We are constantly reminded that football is a ‘results business’ and October is the month when managers who have not made a soaring start to the season are shown the door. But the League Managers Association argues that the bill for these changes amounts to £99m a year.
Although the Premier League lost its case on football brodcasting in the European Court today, and hence Sky lost as well, the outcome will not change that much, at least in the short run, although no doubt further litigation will follow.
Gate money is a key element in Manchester United’s overall success and in particular has helped to provide the financial means that have allowed them to out distance Liverpool. Chelsea’s stadium is only the eighth largest in the Premier League which curbs matchday revenues. So it is no surprise that Chelsea have revived plans to move away from the Bridge.
York City FC’s planning application for a new stadium holds the key to their future. The club owe £2m to the Football Stadia Improvement Fund of the Football Foundation. York borrowed the money to purchase thier Bootham Crescent ground and will need either to repay this sum or convert it to a grant by September 2013.
‘Monetising’ is very much a buzz word these days. In the next phase of their commercial strategy, Manchester United are determined to monetise their fan base ‘and put that into a moneymaking machine’ in the words of their commercial director, Richard Arnold talking to the Financial Times.
Arsenal reported a decline in full-year operating profit as increased wage costs offset a rise in commercial revenue. Underlying operating profit fell to £45.8m in the year to end May from £56.8m the year before.
Next Tuesday the European Court of Justice (ECJ) will rule on whether the Premier League can continue to give its broadcasters domestic exclusivity or whether consumers should be free to cherry pick subscriptions from across Europe.
In a rare interview majority Arsenal shareholder ‘Silent’ Stan Kroenke is full of praise for Arsene Wenger and says that he can stay at Arsenal for as long as he likes. This goes far beyond the traditional guarded ‘vote of confidence’.
In attempt to boost its flagging fortunes, Scottish football is experimenting with Friday night games and the first one is tonight between Partick Thistle and Morton.
The club have had to address a parlous financial situation in recent seasons, and have even lowered the number of police at Firhill on match days in order to lower costs. That has led chairman David Beattie to paint a rather bleak picture for the future of first division clubs.
West Bromwich Albion chairman Jeremy Pearce is trying to increase his stake in the club from 60 to 65 per cent. He has written to all shareholders making an offer for up to 500 ordinary shares. The tender offer is at a price of not less than £1,200 and not more than £1,500 for each share. Priority will be given to those ordinary shares tendered at the lowest price within the tender price range.