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Articles and reports on financial issues within football – soccer – from The Political Economy of Football.
There has already been big interest in taking over Notts County with eight buyers reported to be in the frame. Most of the interest has come from overseas and talks have already been held with an anonymous Danish billionaire.
Having failed in a takeover at Woking, businessman Ashley Read is now to trying to take control at rivals Aldershot Town. Months of negotiations with Woking ended after they failed to provide the financial information he required. Woking, who posted losses of £500,000 in their last financial year, badly need a cash injection.
Aldershot chairman Shahid Aszeem save the club from almost certain closure in 2013, doesn’t hide the club’s search for fresh investment. However, he says that there is no offer on the table yet.
Subject to Football League approval, the takeover of Bolton Wanderers by the Sports Shield consortium headed by Dean Holdsworth has been completed. He has yet to make investment promises or identify his backers.
Iranian-born British citizen Farhad Moshiri, who is resident in Monaco, has agreed to take a 49.9 per cent stake at Everton. Until Friday he was a significant shareholder in Arsenal.
Moshiri, who made a fortune of £1 billion through investments had been a co-investor in Red and White Holdings who own 30 per cent of Arsenal. He sold his stake to partner Alisher Usmanov for £150m to fund buying into Everton. His investment values the club at £175m. It is expected that he will eventually complete a takeover.
Arsenal recorded a small loss of £3.4m in the six months to 30 November, compared with a profit of £6.2m in the same period the preceding year. The difference is largely explained in terms of income from player transfers.
Turnover was up from £148.5m to £158.4m. The club has a war chest of over £159m should it need to draw on it.
Lincoln City have faced more than their fair share of financial problems over the years. They went into administration in the 2001-2 season and were relegated from the Football League in 2010-11.
They then faced a new financial crisis in 2015. However, their fans rallied round and invested £165,000 in the club, as well as raising money through a crowdfunding scheme. Their finances are now back on an even keel.
Ray Trew has stepped down as chairman of Notts County and has announced the club is for sale. He became owner and chairman in 2010 but said he and his family were subject to ‘foul and mindless abuse’ in recent days.
Trew bought the club for £1 and took in debts of £1.5m built up during Middle East consortium Munto Finance’s brief period as owners. The Magpies have had nine full-time managers during Trew’s tenure.
Whether there will be any buyers for the club remains to be seen.
Their town in the Basque Country has a population of 27,000, their municipal stadium can only accommodate 6,000, yet Eibar Ipurua are not only in La Liga, they are currently seventh.
Ordered to raise share capital to comply with the league’s rules, the club turned to crowdfunding, selling shares at €50 each and raising €2 million.
The possibility of offering the fourth Champions League spot to the winner of the FA Cup (if they have not already qualified) is one topic being discussed between the Football Association and the Premier League as they look at the future of the competition.
An alternative suggestion is that there should be a play off between the FA Cup winner and the club placed fourth. All this depends, of course, on the fourth slot being retained.
It has been announced that the takeover of Bristol Rovers by the Al-Qadi family has been completed. The influential family are major shareholders in the Arab-Jordanian Investment Bank. The asset value of the bank is £1.72bn.
The club say Mr Wael Al Qadi – “a lifelong fan of English football and a member of the executive board of the Jordan Football Association” – will become president.