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The pressure is being stepped up on the businessmen who have backed the Red Knights consortium which aspires to buy Manchester United from the Glazers. According to this report Goldman Sachs chief economist Jim O’Neill has been asked to choose between his job and the consortium.
League 1 Stockport County are to exit administration after agreeing a deal with the Melrose consortium. Running a club on the periphery of Manchester is always challenging, but hopefully this opens a new chapter for the club currently bottom of League 1.
At a time when the Premiership model is under wide criticism as badly flawed it is interesting that La Liga have decided to imitate it and try to obtain foreign investment in Spanish clubs. Barcelona and Real Madrid are run as mutual organisations of fans, but they are able to sell their television rights individually. Other Spanish clubs are thought to be living beyond their means. Like many clubs in continental Europe, most of them they do not own their stadiums to use as collat
Nike aim to make football their biggest money-making sport, overtaking the revenues they have obtained from basketball and running. Football is already Nike’s number one sport outside the US, although there are also significant sales within the US. It purchased UK-based football kit manufacturer Umbro in 2008, and next year begins an eight-year deal with the French Football Federation as the official supplier of the national team, r
City figures supporting the Red Knights who are preparing a bid for Manchester United are discovering that it may not be a free ride. The Glazer family are considering ending their relationship with Goldman Sachs. The company’s chief economist, Jim O’Neill (who is said to have invented the term ‘Bric economics’), is a key member of the Red Knights group. The bank has argued that Mr O’Neill’s views are personal ones, but this has not satisfied the Glazers.
Manchester United chief executive David Gill has launched a fierce attack on the Red Knights consortium interested in launching a bid for the club, in particular describe their leading spokesman Keith Harris as a publicity seeker with a modest track record. Harris may be no shrinking violet, but the description of his track record seems a bit harsh. While staying economics at Bradford University he pl
Real Madrid remains the world’s largest revenue generating football club, for the fifth consecutive year, according to the latest Football Money League from business advisory firm Deloitte. Real also becomes the first team in any sport to record revenues in excess of €400m in a single year.
Portsmouth have been ordered back into court in under a fortnight on March 15th. Doubts have been raised about the independence of the administrator from the club’s fourth owner, Balram Chainrai. The club will have to provide details of all transactions between his club, Portpin, and the club.
Revenue and Customs have complained in the High Court that the financial affairs of Portsmouth are ‘shrouded in mystery‘. They are not convinced that administration is the right route for the club and are dissatisfied with the independence of the administrator. It was also revealed that the club will need £14m to keep going just until the end of April. The case continues.
The group of businessman known as the Red Knights are gearing up for a bid for Manchester United They are led by Keith Harris, a former HSBC Investment Bank chief executive, who became a well-lnown figure in football after his involvement in takeovers at West Ham, Manchester City and Aston Villa. Goldman Sachs chief executive Jim O’Neill grew up in Manchester and is a lifelong United fan. Goldman Sachs backed the United bond issue. Mark Rawlin