PSG are football's greatest financial power

Even leaving aside the possible consequences of Manchester City's dispute with Uefa, PSG have overtaken Manchester City as the football's greatest financial power, according to a report by football business experts Soccerex, again highlighting the significance of the two clubs' Middle Eastern ownership: Soccerex report. You can download the whole report.

The findings are in line with an offthepitch.com analysis which last month showed PSG and Manchester City, both clubs owned by oil-rich states, were the biggest revenue growers among the top European clubs over the past decade. PSG increase their revenue by a whopping 671 per cent from 2010 to 2019, while Manchester City's Abu Dhabi owners oversaw a 328 per cent increase.

However, one should inject a note of caution. The oil price has probably reached its all time high in real terms as the switch to electric powered vehicles gains pace. The Gulf states don't produce anything else.

The Paris club surpassed City mainly due to an annual increase in the club's cash reserves - five times that of City's - while PSG managed to decrease their debt by €70 million. City increased their debt by more than €90 million, according to the report.

While Premier League clubs dominated the ranking's top ten, one club dropped considerably in the table. Manchester United, despite having one of the biggest revenues in world football (£627.1 million last season), fell eight places to 16th in the report, due to depreciation in squad value, tangible assets and cash levels. Despite decreasing from the year before, United's liabilities stood at £1.5 billion in the 2018/19 season.

Bayern Munich are third in the rankings, followed by Tottenham, Real Madrid, Arsenal, Chelsea, Liverpool, Juventus and Dortmund in tenth. Soccerex's report factors five financial variables – playing assets, tangible assets, cash in the bank, potential owner investment and net debt.

MLS claim that they are the best represented league in the top 100 after the Premier League. However, look at one of the comments: their standing reflects the fact that they have rich owners who can develop the land around stadiums: MLS claim

Soccerex note, 'European clubs account for 80% of the top 30, a reflection of the dominance of Europe’s elite clubs, but interestingly, the ownership of this group of clubs is a much more global affair with just under 50% owned by non-European entities, including individuals or organisations from the Middle East, South East Asia and North America.'

'There are 15 different leagues represented in the top 100. UK clubs make up the biggest portion with 23 - 18 Premier League Clubs and five EFL clubs. Major League Soccer is the next most represented league with 17 clubs – 15 from the United States and two from Canada – followed by LaLiga and Serie A who both have 11 clubs and then the Bundesliga which has 10. The J-League is represented for the first time as part of the report’s expanded scope, with two clubs – Nagoya Grampus and Vissel Kobe – featuring in the top 30 largely due to their corporate ownership by Toyota and Rakuten respectively.'

It's no deal say Spurs insiders over Taiwanese takeover

Senior figures at Tottenham Hotspur insisted on Friday that they had not been informed of any deal to sell Daniel Levy’s stake in the club. A business group, Eight Sports Capital — which is said to include a billionaire Taiwanese financier — claimed that it had an agreement in place to buy a 24.99 per cent stake in ENIC, the club’s majority owners, from Levy, who owns 29.88 per cent. The Times has been told Ng Wing Fai and Brooklyn Earick form part of the group, having both been linked previously to potential takeovers of the Premier League club. The Taiwanese businessman, Richard Tsai, is also said to be part of the consortium. He is reportedly worth £7 billion. Last year Earick, the former DJ and tech entrepreneur, was part of an attempted £4.5 billion takeover, which was “unequivocally rejected” by Spurs. An ENIC spokesperson said: “We can confirm that neither ENIC nor THFC are aware of any sale by Daniel Levy’s Family Trust of its minority stake in ENIC, THFC’...

Spurs CEO attacks luxury training base

The Tottenham Hotspur chief executive Vinai Venkatesham has issued a withering assessment of the way the club was run under Daniel Levy, likening the state-of-the-art training centre to a five-star hotel rather than a centre of high performance. Venkatesham was appointed to his role in April 2025, having stepped down as chief executive at Arsenal the previous summer. However, he has said that some aspects of the club were “in a significantly worse state” than he expected. “Our training centre is amazing, one of the best, if not the best in the world,” Venkatesham told BBC Sport. “But when you look around, it looks more like a five-star hotel than it does a performance environment. That will change over the summer. I think there are many areas where the club hasn’t got the right level of expertise.” He explained that the football side of operations was the club’s main downfall when he arrived last year. [One Spurs fan wryly observed that it was like a water company sayi...

Fulham requires big funding from owner

After lengthy delays, Fulham’s shiny, new Riverside Stand has finally opened, creating “a unique Thameside destination with first class facilities for supporters and partners on match days, as well as for the wider community year-round”. This ambitious project has increased Craven Cottage’s capacity by around 4,000 to 29,600, while it has also taken advantage of the club’s fantastic location and wealthy catchment area by including two Michelin star restaurants, a rooftop swimming pool, corporate hospitality and event space, all benefiting from views of the Thames. Chief executive Alistair Mackintosh observed, “Fulham is the sort of club that can have a business class or first class and have fans that turn left on a plane.” Indeed, there is also an exclusive members club – with a football season ticket as an optional extra. It’s fair to say that “the times they are a-changing”, as this is a long way from the traditional pie and a pint. However, in a world where clubs face the tw...

The Political Economy of Football V2

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