* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Man City challenges the Premier League as football’s financial arms race goes nuclear: Matthew Brooker

June 9, 2024
in Business
Man City challenges the Premier League as football’s financial arms race goes nuclear: Matthew Brooker
Share on FacebookShare on Twitter

Money has transformed English football, notably with Chelsea’s and Newcastle’s successes after wealthy takeovers. Manchester City, dominant under Abu Dhabi ownership, is challenging Premier League rules on sponsorship deals, arguing they are anti-competitive. The club’s legal battle could disrupt league governance, reflecting broader concerns over financial fair play and competitive balance.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

By Matthew Brooker

Money talks in football. An influx of rich owners helped turn England’s Premier League into the world’s most lucrative national soccer competition. Chelsea FC won the title for the first time in 50 years in 2005 after its takeover by Russian billionaire Roman Abramovich. Saudi Arabia’s 2021 purchase of Newcastle United FC propelled it back into Europe’s elite Champions League after a two-decade absence. But the urge to splurge might yet tear the game apart.

Manchester City, controlled by Abu Dhabi United Group, is challenging the legality of the Premier League’s so-called Associated Party Transaction, or APT,  regulations that are designed to prevent teams from signing inflated sponsorship deals with companies linked to their owners. The club argues the rules are anti-competitive and that the league’s voting system produces a “tyranny of the majority,” according to a 165-page document cited by the Times. A two-week arbitration hearing is scheduled to start Monday. It’s an unprecedented action: Victory for Manchester City could throw the Premier League’s governance into disarray.

For a club that just became champions for a record fourth year running, and that has ascended from mid-table mediocrity to become the UK soccer universe’s biggest revenue-generator under its Abu Dhabi owners, the claim that Manchester City is being unfairly held back might strike some as, well, a little rich. The team had record revenue of £712.8 million ($910 million) in the 12 months through June 30 last year, ranking it second globally behind only Spain’s Real Madrid, based on exchange rates at the time. It has won six of the past seven Premier League titles — a level of dominance unparalleled in more than 130 years of top-tier competition.

The APT rules matter because they affect how much a club can spend on players. Deep-pocketed owners can’t just shove in as much cash as they like to fund transfers and give teams an edge. Europe-wide “financial fair play” rules restrict clubs to spending no more than 70% of their revenue on squad costs. A bigger top line means more money in the kitty to fund marquee acquisitions like the £100 million that City paid for England midfielder Jack Grealish in 2021. Owners with means can boost revenue by entering into business transactions with other entities that they control. Given the incentive to inflate values, who is to say what these deals are really worth?

The principle here is straightforward. It’s analogous to the related-party transaction rules that are a common feature on stock exchanges. Self-dealing carries an inherent potential for abuse. Controlling shareholders can extract value from public companies by selling assets to their private vehicles at an undervaluation, or buying assets from them at inflated prices. So such transactions typically require an independent valuation report and a vote by minority shareholders. In Hong Kong, where your correspondent used to reside (and where there is a preponderance of controlling shareholders with a penchant for self-dealing), the newspapers used to bulge with announcements of this type.

The concern in the football context is the insertion rather than the extraction of value. Instead of minority shareholders, those potentially disadvantaged are rival clubs that may be pulled into an unsustainable spending arm’s race — as well as viewers of the sport, who face being condemned to a duller and more predictable spectacle in which only the most extravagantly wealthy can afford to compete. Meanwhile, the Premier League’s mechanism for dealing with the issue is similar to that of stock exchanges: Rules say that associated party transactions must be independently assessed to be of fair market value. This seems sensible to me.

There’s a legitimate case to make that the financial fair play regime (Profit and Sustainability Rules, in Premier League parlance) is an unfair restraint that entrenches the competitive position of clubs already commanding the biggest revenue share. But, come on: This is Manchester City we’re talking about. The argument would carry more weight if it was coming from one of the Premier League’s struggling underdogs rather than a serial champion backed by the resources of a Middle Eastern petrostate. 

Premier League rule changes require support from a two-thirds majority, or 14 out of 20 clubs. Tyranny? Not obviously. “This is pretty standard in corporate governance,” says Daniel Gore, a senior associate at law firm Withers in London, who describes the rules as reasonable and democratic.

The wider context here is the 115 charges levied against Manchester City of breaching financial regulations between 2009 and 2018, some of which are linked to alleged inflation of sponsorship deals with Abu Dhabi entities. That case is due to be heard this autumn. The APT challenge lays down a preemptive marker, signaling the level of combativeness the league can expect. In February 2023, the New York Times noted the “army of lawyers” the club employed, saying it used a “bare-knuckle” strategy to overwhelm opponents in a war of attrition.

That may prove an effective legal approach, but it’s unlikely to win the club many friends. Reaction in British media has been mostly negative, with the Independent calling it “an assault on the fabric of football” and the Times warning of anarchy. Fans of lower-league Millwall are renowned for chanting “no one likes us, we don’t care.” On current form, that might make a new motto for England’s most successful club.

Read also:

Everton FC’s financial crisis: A wake-up call for English football
Arsenal, Liverpool, or Chelsea? I can’t pick which football team to support: Howard Chua-Eoan
FA scraps cup replays as football’s financial Goliaths win again: Matthew Brooker

© 2024 Bloomberg L.P.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : BizNews – https://www.biznews.com/global-citizen/2024/06/07/man-city-challenges-the-premier-league-as-footballs-financial-arms-race-goes-nuclear-mathhew-brooker

Tags: businesschallengespremier
Previous Post

‎Merrill Lynch says may stabilize Aramco’s share sale

Next Post

Billions in taxpayer money wasted on failed broadband projects

Some birds are left behind in a race to beat the heat – Nature

Some birds are left behind in a race to beat the heat – Nature

June 1, 2025
A passing star could fling Earth out of orbit – Science News

A passing star could fling Earth out of orbit – Science News

June 1, 2025
John Hancock Multimanager Lifestyle Moderate Portfolio Q1 2025 Commentary (JALMX) – Seeking Alpha

Unlocking Potential: Insights from the John Hancock Multimanager Lifestyle Moderate Portfolio Q1 2025

June 1, 2025
Editorial: The world promised by AI isn’t necessarily a better one – Pittsburgh Post-Gazette

Editorial: The world promised by AI isn’t necessarily a better one – Pittsburgh Post-Gazette

June 1, 2025
Little Rock economy growing faster than other similarly-sized cities, study shows – thv11.com

Little Rock’s Economy Outpaces Peers: A Promising Growth Story!

June 1, 2025

Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

June 1, 2025
Why Gen Z Will Demand Crypto-Enabled Health Systems – Forbes

How Gen Z is Shaping the Future of Crypto-Enabled Health Systems

June 1, 2025
State Sen. Skoufis declares war on en­ter­tainment ticketing practices in closing days of session – Spectrum News

State Senator Skoufis Takes a Stand Against Unfair Ticketing Practices in Final Session Push!

June 1, 2025
Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

June 1, 2025
With college sports in limbo and key issues coming to a head, the spotlight is on the SEC: ‘It’s going to get heated’ – Yahoo Sports

SEC Showdown: Tensions Rise as College Sports Face Uncertain Future

June 1, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (656)
  • Economy (671)
  • Entertainment (21,577)
  • General (15,254)
  • Health (9,713)
  • Lifestyle (673)
  • News (22,149)
  • People (672)
  • Politics (679)
  • Science (15,891)
  • Sports (21,175)
  • Technology (15,658)
  • World (659)

Recent News

Some birds are left behind in a race to beat the heat – Nature

Some birds are left behind in a race to beat the heat – Nature

June 1, 2025
A passing star could fling Earth out of orbit – Science News

A passing star could fling Earth out of orbit – Science News

June 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version