The Political Economy of Football V2

Sheffield Wednesday have received a 12 point deduction for breaching the EFL's Profitability and Sustainability Rules by booking a profit on the sale of Hillsbrough, but it will take effect next season:  https://www.efl.com/news/2020/july/efl-statement-sheffield-wednesday-verdict/

The Saudi consortium bid for Newcastle United has been withdrawn.  It is understood that they ran out of patience with the Premier League which could not decide whether to approve the controversial bid:  https://www.bbc.co.uk/sport/football/53598846 So Mike Ashley remains in charge and with no other credible bidder in sight the club's future remains uncertain.   In mid-June Henry Mauriss, an American television executive,   made a £350m bid   to buy Newcastle from Ashley but considerable scepticism surrounds his offer. The prospective purchasers said in a statement that the decision had been made with "regret" and was down to the worldwide uncertainty caused by the coronavirus pandemic. 'Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club's owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the

The Court for the Arbitration of Sport has published the full text of its decision in the appeal brought by Manchester City over Uefa penalties. It runs to nearly one hundred pages:  https://www.tas-cas.org/fileadmin/user_upload/CAS_Award_6785___internet__.pdf CAS said that Uefa had not brought frivolous charges and had legitimate reasons to prosecute:  https://www.independent.co.uk/sport/football/premier-league/man-city-european-ban-cas-ffp-champions-league-latest-news-a9642691.html

Which of the three clubs relegated from the Premier League will take the hardest hit?  Writing from his Zurich fastness, the Swiss Ramble has some authoritative answers. Looking at the last reported numbers from 2018/19, it would appear that Bournemouth have most to fear, because they had by far the largest operating loss (£30m) and highest wage bill (£111m). Watford's operating loss was only £6m, while I estimate small profit for Norwich City (pre-COVID). In 2018/19 Watford had the highest revenue of the relegated clubs with £148m, ahead of £136m for Norwich City (estimated, as played in the Championship that season) and £131m for Bournemouth . Revenue will be lower in 2019/20, due to smaller TV money (lower league place) and COVID-19 impact. Looking at recently relegated clubs, r evenue decrease following relegation ranged from £54m (WBA) to £63m (Sunderland), averaging £61m (50%) in 2017/18 and £56m (45%) in 2018/19. Given the higher revenue in 2019/20 Premier League (pre-COV

Just 47 days stand between Charlton and expulsion from the EFL according to the CAS Trust who draw parallels with events at Bury:  https://www.castrust.org/2020/07/47-days-to-expulsion/?utm_source=rss&utm_medium=rss&utm_campaign=47-days-to-expulsion The EFL sought a meeting with Charlton's 'owners' yesterday and issued a warning very similar to one made at a similar stage in relation to Bury. The Evening Standard provides a summary of what has happened:  https://www.standard.co.uk/sport/football/charlton-risk-expulsion-football-league-efl-demand-details-takeover-a4510536.html

Alfie Best, the flamboyant millionaire who has taken over Isthmian League outfit East Thurrock United, wants to see the third tier Corringham-based club reach the Football League. He paid a seven figure sum for a 50 per cent share in the club and the freehold of the Rocks ground. He appears to have the readies, as he is in the Sunday Times rich list.   However, we have been here before with Billericay Town and Gretna and it did not end well.   AFC Fylde have failed to realise their ambitions.   Admittedly, Fleetwood Town did make the grade. Best has a portfolio of businesses including Europe's largest static homes company.   He visited the ground by helicopter.

Charlton could be the new Bury and are in danger of expulsion from the EFL warns Addicks fanzine editor Rick Everitt:  http://www.votvonline.com/home/the-2019-20-blogs/27-7-timewasting-is-a-tactic-charlton-can-t-afford/ Everitt believes it would be better for the club to go into administration rather than slide into oblivion as a result of official indecision and inaction.

Football finance guru Kieran Maguire notes: 'Over the past seven years relegated clubs have seen their income fall collectively by £869,000,000 in the first year in the Championship. Those falls have grown year by year & likely to hit record levels in 2020.' The biggest falls were Stoke £7.14m; Sunderland £62.7m; Hull, £60.2m. Norwich had the smallest fall of £22.3m.