"If you want some accessible but informative insight into football then I suggest you couldn't do better than the Political Economy of Football website, which is not only intelligible but comes with the added bonus of being written by Addicks fan Wyn Grant." Ben Hayes - Charlton Athletic programme
Aston Villa didn’t exactly announce their latest financial results with a fanfare, publishing them on the club website, even though they show an improving picture.
After finances were spiralling out of control, leading to owner Randy Lerner to bring in cost-cutting methods while ensuring the club’s Premier League status, Aston Villa are now out of the woods, according to the club’s chief financial officer, Robin Russell.
Birmingham City Football Club majority shareholder Carson Yeung was found guilty by a Hong Kong court today of five counts of money-laundering in a high-profile trial. Yeung, who had denied the charges of laundering $93 million between January 2001 and December 2007, will be sentenced on Friday. He faces up to seven years in jail, although a five year sentence is being forecast.
Rangers have rejected internet rumours that the club will enter administration for a second time on Wednesday, but faced demands from supporters to answer claims that former chief executive Charles Green still has influence within the club.
A spokesman for the club said last night: “There is absolutely no truth in these claims [about the club facing administration], which appear to come from agenda-driven bloggers who are out to damage the club. There is no chance of administration while there is no board meeting tomorrow. This is all completely false.”
Are Leeds fans warming to the idea of a Massimo Cellino takeover? It’s difficult to say. Certainly when he signalled his interest in buying Leeds United last month, it’s fair to say that many supporters were not happy.
Amid allegations of corruption and links to the mafia, the Italian, who also owns Serie A side Cagliari, faced boos when he turned up at Elland Road for the first time.
The Union of Fans, a coalition of six Rangers supporters groups, has backed a call from former Ibrox director and South African businessman Dave King to withhold season ticket money for 2014/15 until assurances are given about the club’s future. They want the club to have a sound financial structure. The money would be held in a trust fund.
Last week Rangers were forced to take out a £1.5m million loan from two major shareholders to help pay for simply existing on a daily basis. There are fears that the club could face a second spell in administration.
UEFA is investigating 76 unidentified Champions League and Europa League clubs for potentially breaking the Financial Fair Play rules designed to curb excessive spending. Chelsea are thought not to be under investigation, but Manchester City are.
The first sanctions against clubs will be announced in April, UEFA announced today. Clubs involved in more serious cases will also be identified then, with UEFA setting a June deadline to publish verdicts ahead of the qualifying round draws for next season’s competitions.
With a few exceptions, notably the Glazers, one rarely buys a football club to make money. As the old saying goes, if you want to make a small fortune, start with a large one and buy a football club. One famous book by a footballer had a chapter headed ‘What the average owner knows about football’ and it was a blank page. ‘The Player’ in the latest edition of Four Four Two has some interesting reflections about mistakes made by owners, arguing those who keep their distance are the best.
The identity of the prospective new owners of Wycombe Wanderers was not identified at a meeting of supporters yesterday as had been hoped. The club is currently third from bottom in League 2, although five points ahead of Torquay in the first of the relegation places.
A ‘concerned Newcastle fan’ has responded to our recent posting on the annual results at the football club and we are happy to post his comments which give an alternative perspective:
We have argued for some time that the financial fair play schemes at both Uefa and domestic competition levels are based on shaky legal foundations and were open to challenge in the courts. Sports lawyers like Daniel Geey have drawn attention to how complex the rules are and open to different interpretations which of themselves give grounds for a challenge.