Business

English League One And League Two Clubs Approve Salary Caps

League One and League Two clubs, representing the third and fourth tiers of English football, have voted in favor of introducing salary caps for their squads, the English Football League (EFL) said in a statement on Friday.

League One clubs agreed to cap total expenditure on player salaries at $3.27 million while those in League Two agreed to an upper limit of $2 million. 

U.S. Billionaire Signs Deal To Buy Roma For Over $700 Million

U.S. billionaire Dan Friedkin has signed a deal worth more than $700 million to purchase the Italian Serie A soccer club AS Roma, the club said on Thursday.

Roma said in statement that formal contracts with the Houston, Texas-based Friedkin Group were signed on Wednesday for a transaction valued at 591 million euros.

"We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family," Friedkin said in a statement on the club website.

Ajax Braces For Another Hellish Transfer Window Of Turnover

Ajax will have to change their playing style after the sale of Hakim Ziyech to Chelsea and the possibility of up to six others leaving before the new season in the Netherlands starts, coach Erik ten Hag said as they began pre-season training.

Ziyech was one of the key figures when Ajax reached the Champions League semifinal last season and also dominated in the Dutch league, but success for the club has meant their players have been in high demand.

Three Soccer Teams Among Forbes’ Top 10 Most Valuable Franchises

The Dallas Cowboys were ranked the world's most valuable sports team for a fifth consecutive year according to an annual list published by Forbes on Friday that was dominated by National Football League clubs.

The NFL's Cowboys, who unseated Spanish soccer club Real Madrid for top spot on the list in 2016, were valued at $5.5 billion, a 10 percent rise when compared to last year, Forbes said in a statement.

Newcastle’s Saudi Arabia-Backed Takeover Collapses After Consortium Withdraws Bid

The proposed takeover of Premier League club Newcastle United by a Saudi Arabian-backed consortium has collapsed after the group announced they were ending their interest in the deal.

The group, which included Saudi Arabia's sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers, was reported to have made a $391 million bid to buy United from British businessman Mike Ashley.

Mourinho ($2 Billion Spent On 99 EPL Signings) Worried Man City Decision ‘Opens Circus Door’

In the wake of Manchester City overturning its two-year ban from European competition, the only take I really appreciated was this one. It’s sarcastic.   

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. 

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.

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