Finance Archives - Page 123 of 128 - Inside World Football

OL get first €30m of Chinese money but ADO hit bottom of the well

Olympique Lyonnais badge

By Paul Nicholson

December 29 – The increased difficulty of getting Chinese money into Europe to complete club acquisitions has been highlighted with Ligue 1 Olympique Lyonnais owner OL Groupe announcing that it had now received the first €30 million of a €100 million investment by Chinese investment fund IDG Capital Partners. At the same time Dutch club ADO The Hague said it was suing its Chinese owners for €2.3 million in unpaid investments.

Finance

Spurs prevaricate over Wembley tenure as prices plummet for Gent game

December 29 – It would be fair to say that Tottenham Hotspur are not having a love affair with Wembley, either on the pitch where they failed to get the Champions League results to take them to the knock-out rounds, or off it as they prevaricate over committing to playing Premier League games there in the 2017/18 season while their rebuilt White Hart Lane stadium is completed.

Finance

Matt Scott: How Voldemort threatened the world’s oldest club with extinction

Notts County

“Greatness inspires envy, envy engenders spite, spite spawns lies.” Lord Voldemort, Harry Potter and the Half-Blood Prince, JK Rowling

There is something magical about Notts County. They are the world’s oldest league football club, formed six generations ago in 1862, and although relatively few in world football might be acquainted with the Magpies, their impact on the global game is undeniable.

Finance

Li says AC Milan deal is still on despite money being stuck behind the Chinese wall

AC Milan

December 23 – The protracted sale of AC Milan to Chinese group Sino-Europe Sports (SES) took another subtle twist yesterday when SES President Yonghong Li assured media that the sale is going ahead and that if they can’t release the money from China they have an alternative plan.

Finance

RB Leipzig flaps its wings wider with deal to buy Zentralstadion

December 23 – Bundesliga challengers RB Leipzig have announced they have agreed a deal to buy Leipzig’s Zentralstadion – renamed the Red Bull arena – and that they will expand the capacity from its current 42,558 to 57,000 as well as extend hospitality facilities.

Finance

Ismaik pledges €50m to 1860 Munich bid to return to Bundesliga’s top tier

December 20 – Bayern may dominate Munich and Germany, but they are facing challenges. RB Leipzig, backed by Red Bull cash, is now a realistic challenger at the top of the Bundesliga, while locally 1860 Munich are showing signs re-emerging from the shadows thanks to the deep pockets of Jordanian investor Hasan Ismaik.

Finance

Kit change pushes Chelsea’s high flyers to £70 million loss

By David Owen

December 19 – The short-term impact of the early termination of Chelsea’s kit deal with Adidas has been made apparent, with the West London club announcing a big net loss of £70.6 million for the year to 30 June 2016.

Finance

A £60m Oscar sale could make up for lack of Euro revenue at table-topping Chelsea

By David Owen

December 16 – It is a situation that encapsulates the globalisation of top-class football in the 21st century: the sale of Brazilian midfielders to China is promising to have a transformative effect on the financial performance of a West London club controlled by a Russian businessman.

Finance

Football Benchmark adds EFL data to its club intelligence bank

December 15 – Football Benchmark, the sports analysis and data arm of the accountancy and consultancy specialists KPMG, has expanded its database of club financial information to more than 150 clubs with the addition of the English Football League (EFL) Championship.

Finance

Haixa put down further €100m for AC Milan, €520m deal to close next March

berlusconi

December 14 – The completion of the sale of AC Milan to an investment group led by Chinese investors Haixa Capital and Yonghong Li, has been put back until March 2017. Originally due to complete yesterday (December 13), the new date reflects the difficulty the Chinese have had receiving Chinese government approvals to release the money.

Finance

Chinese investors Tech Pro say Sochaux cash is secure and to look long term

By Samindra Kunti

December 12 – The Chinese owners of FC Sochaux-Montbéliard have given assurances that the French club is financially secure and will compete in next season’s Ligue 2.

Finance

High-flying Seagulls add £25.9m in losses as they soar towards Premier League

By David Owen

December 8 – Brighton and Hove Albion, pressing hard for a place in the Premier League for a second consecutive season, have highlighted the financial balancing-act facing upwardly mobile clubs with ambitions of top-tier football. The high-flying Seagulls from the English south coast have reported a pre-tax loss for the year to 30 June 2016 so substantial that it outstripped turnover for the same period.

Finance

Leeds United owner Cellino banned for busting transfer rules

Massimo Cellino 2

December 9 – The English Football Association has suspended Leeds United’s controversial Italian owner Massimo Cellino (pictured) from all football activities for 18 months and fined the Italian £250,000 for breaking transfer regulations.

Finance

Spurs new stadium provides 3,500 jobs boost and will pump £293m into economy

December 9 – Premier League Tottenham Hotspur reckon that 3,000 construction jobs will be created by the build of their new 61,000 capacity stadium, many of them going to local people.

Finance

Bubbles bursting? Mourinho, Ronaldo and agent Mendes under fire for tax dodges

By Andrew Warshaw

As if he didn’t have enough problems trying to defend the inconsistent displays of his Manchester United team, Jose Mourinho is now facing calls for an investigation into his tax affairs after leaked documents to a group of European media outlets suggested that he and other leading figures – most notably Christiano Ronaldo –made transactions that could be construed as tax avoidance.