Business

Manchester City’s Two-Year Ban From European Competition Overturned

Manchester City's two-year suspension from European football was overturned by the Court of Arbitration for Sport (CAS) on Monday, allowing the club to compete in next season's elite Champions League competition.

CAS ruled that City did not breach Financial Fair Play (FFP) rules by disguising equity funding as sponsorship. Sport's highest court also reduced a fine for failing to cooperate with UEFA to $11.3 million from $34 million. 

CBS Gets Exclusive Rights To Champions League With Immediate Effect

ViacomCBS Inc said on Thursday it had signed an agreement with European soccer's governing body UEFA to live-stream Champions League matches on CBS All Access in the United States, starting this season through 2024.

EA Locks Down Exclusive Rights To Europe’s Best League For 10 More Years

Electronic Arts Inc on Wednesday extended its licensing contract with LaLiga until 2030, allowing the video game maker to retain exclusive access to the Spanish top-tier soccer league for its flagship football franchise "FIFA."

The 10-year agreement is the longest renewal in the history of the company's partnership with LaLiga, EA told Reuters, but did not disclose the financial terms of the deal.

New Bundesliga Domestic TV Deal Less Lucrative Than Previous Package

The Bundesliga should earn some $4.95 billion from domestic broadcast rights for the four years from 2021-22 onwards, the German Football League said on Monday, with Sky awarded the prime package of all Saturday games.

The deals announced on Monday are slightly less lucrative than the existing four-year deal that ends next season. Worth $5.18 billion, that was an 85% jump from the previous agreement.

Amazon Will Air All Four Of Its Premier League Matches For Free On Twitch

Amazon announced that it will air the rest of its Premier League matches for free on Amazon Prime while live streaming them on Twitch. No membership will be required to watch the four matches shown by Amazon.

One of the four matches has yet to be announced, but the other three include Crystal Palace vs. Burnley on June 29, Everton vs. Southampton on July 6 and Watford vs. Newcastle on July 11.

UEFA Relaxes Financial Fair Play Rules But Sends Warning To Potential Abusers

European soccer body UEFA has temporarily relaxed its break-even rule known as Financial Fair Play, saying it wants to make sure that clubs are not penalized for unforeseen losses caused by the COVID-19 pandemic this season.

The European soccer body said in a statement that clubs' accounts for the 2020 and 2021 financial years would be assessed together rather than separately, to give clubs time to recuperate from losses suffered during the last three months.

COVID-19 Expected To Drop Player Value By 18%

The suspension of soccer leagues across Europe due to the COVID-19 pandemic will see overall player value drop by 6.6 billion euros ($7.5 billion), or about 18 percent, in the transfer market, KPMG's global head of sports Andrea Sartori said.

The majority of leagues have resumed or are in the process of restarting their seasons behind closed doors before the transfer window reopens, with clubs still reeling from the financial impact of the months-long shutdown.

Tottenham Borrows $220 Million From Bank Of England Due To Revenue Loss

Tottenham has borrowed $220.40 million from the Bank of England to ease the financial burden due to the loss of revenue amid the COVID-19 pandemic, the Premier League club said on Thursday.

The club said it estimated a revenue loss of more than $250 million for the period until June 2021 due to the loss of income from matchday revenue, third party live events and other sporting events at their stadium.

2020 MLS Season Could Resume July 9 After New CBA Avoids Player Lockout

Major League Soccer games will go on after players agreed to ratify a new Collective Bargaining Agreement before Wednesday's deadline for owners to impose a lockout.

The deal opens the door for the season to restart as early as July 9, according to multiple reports, with the league reportedly set to conduct a World Cup-style tournament among all 26 teams at Orlando, Fla.

MLS Owners Prepared To Lock Out Players While Players Refuse Voluntary Training Sessions

Players are facing a deadline of high noon on Tuesday to avoid being locked out by MLS owners, ESPN reported on Monday.

At odds over the return-to-play tournament in Orlando, players voted to approve a counterproposal but owners had already determined their best offer was on the table, per the report.

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