Money

Richest Premier League Owners: Newcastle’s Investors Are Impossibly Wealthy

Once the formalities are out of the way, the Premier League will finalize the sale of Newcastle United from owner Mike Ashley to a consortium that’s headed by Saudi Arabia’s Public Investment Fund (PIF). In terms of the richest Premier League owners, Newcastle's jumping from 11th on this list all the way to the top.

MLS Players Could Face Pay Cuts As Steep As 50% But With Safety Net For League’s Lowest Earners

Major League Soccer extended its moratorium on matches until June 8 on Friday amid discussions with players about salary cuts the league says are necessitated by the coronavirus pandemic.

ESPN reported that league officials, including commissioner Don Garber, and the MLS Players' Association executive board held a conference call on Thursday to talk about potential salary reductions.

U.S. Soccer Shutters Development Academy Due To COVID-19 Fallout

The U.S. Soccer Federation said on Wednesday it was shutting down its youth development academy permanently due to the financial fallout from the COVID-19 pandemic. 

U.S. Soccer, the sport's governing body in the United States, said in a statement the decision to shutter the academy, which it founded in 2007 and included competitions across five age groups, was effective immediately. 

Female Footballers Risk Losing Their Livelihoods Due To COVID-19 Shutdown

Many female footballers are at risk of losing their livelihoods due to the global soccer shutdown caused by the COVID-19 pandemic, a report by global players' union FIFPRO said on Thursday. 

The report said specific measures were needed to help women's football during the crisis, which has brought world sport to a standstill and caused the postponement of major international events including the 2020 Tokyo Olympics. Otherwise, it said, the women's game could be facing an existential threat.

$392M Takeover Deal For Newcastle United Edges Closer

A possible takeover of Premier League side Newcastle United by a group fronted by British financier Amanda Staveley with Saudi Arabian backing appeared to be moving closer to completion on Tuesday. 

A 31-page charge agreement filed with Companies House and signed by Staveley for PCP Capital Partners and a lawyer for St James Holdings Ltd indicated a framework for a deal was being put in place. 

Portugal Donates Half Of Euro 2020 Qualifying Prize Money To Support Amateur Football

European champions Portugal will donate half of their prize money for qualifying for the now-postponed Euro 2020 championships to support amateur football amid the coronavirus outbreak, the team said on Monday. The virus has shut down many countries and has wreaked havoc with the sporting calendar across the globe. 

Bond Set At $15 Million, Curfews Given To Former Fox Execs Who Plead Not Guilty In Corruption Probe

NEW YORK — Two former 21st Century Fox executives and a South American sports marketing company pleaded not guilty on Thursday to criminal charges in New York in the long-running corruption probe surrounding FIFA, the world governing body for soccer.

The former Fox executives, Hernan Lopez and Carlos Martinez, and Full Play Group SA entered their pleas to crimes including wire fraud and money laundering conspiracy at an arraignment before U.S. District Judge Pamela Chen in Brooklyn.

Under Immense Pressure To Do Something, Premier League Footballers Launch Charity Fund (But Won’t Give Up Wages)

LONDON — Premier League footballers, facing pressure to accept wage cuts during the coronavirus outbreak, have launched a fund to raise money for National Health Service (NHS) charities to help tackle the coronavirus outbreak.

With the Premier League at a standstill, the players have been criticised in the British media over the last week for resisting calls from the clubs to accept wage deferrals and cuts to reduce wage bills.

The players union, however, questioned the call for a 30-percent player wage reduction, saying it would reduce tax revenue for Britain's NHS.

Hey Schalke, It’s Not The Fans’ Job To Bail Out Giant Football Clubs

We like to think of soccer as being special, with teams that are “more than a club” and inspire you to never walk alone. But during the novel coronavirus pandemic, soccer is being exposed as the disgusting fraud it is, one that leaches off its fans with no shame. 

The last few weeks have been tough for football fans around the globe. Soccer has ground to a halt as leagues quite rightly do all they can to prevent the spread of COVID-19, leaving viewers with no sports to watch and the athletes themselves cooped up inside like the rest of us.

U.S. DOJ Indicts FIFA Officials For Taking Bribes To Vote For Qatar World Cup

The 2022 World Cup in Qatar has become the focus of fresh FIFA corruption allegations after the release of a new U.S. Department of Justice indictment which says bribes were paid to football officials to secure their votes for hosting rights.

Suspicion and rumours have long surrounded both the 2010 vote by FIFA's executive to hand the 2018 World Cup to Russia and the 2022 tournament to Qatar. But on Monday, for the first time, prosecutors set direct, formal allegations down in print.

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