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Football Finance


Taxman hits testimonials

The devil is always in the detail in George Osborne's budgets and he is a past master at inventing stealth taxes that initially attract little attention, although he got it badly wrong with the pasty tax.

This time he has decided to tax testimonial matches for footballers (and other sportsmen and women).  A testimonial match at a top club can net £1m.   In addition, there are usually associated events such as black tie dinners with over priced seats and auctions.

Wenger splashes out

Arsene Wenger has at last loosened the purse strings at Arsenal and splashed out: on a coach, the type that you drive, not the sort that shouts at players.  When they played Norwich three years ago they came under criticism from green campaigners for taking a 14-minute flight to the Norfolk county town.

Unfortunately, the chara won't be in use today because of road works.   The team flew to Norwich last night.  Wenger complained, 'Sometimes the access to Norwich is difficult.'

Best ever financial results for Bayern Munich

Increasingly looking like the leading European team, Bayern Munich have announced the best ever financial results in their 115-year history.   Turnover is up to £368m, although that still leaves them slightly behind Barcelona and Real Madrid in terms of revenue.

New era in football finance

In the past wealthy individuals from the Middle East and Russia with money to burn bought football clubs as a prestige acquisition or a form of political insurance.   By and large, the days of individuals with deep pockets are over for reasons that have been discussed before on this page such as the fall in the oil price.

Scottish league game to be played abroad?

The idea of Premiership games playing league games abroad was knocked on the head by the football authorities after an unfavourable reaction by fans.   It seemed as if globalisation in football did have some limits.

Northampton Town sold

Northampton Town has been sold to former Oxford United chairman Kelvin Thomas.   The deal has the approval of Northampton Borough Council who are owed £10.25m for work at and around the Sixfields stadium that was never completed.   HM Revenue & Customs are owed £166,000 and are bringing a winding up petition.

£23.1m loss at Chelsea

Chelsea made a £23.1m loss in the financial year ending 30 June 2015, but remained compliant with financial fair play rules.   Turnover was down slightly from £319.8m to £314.4m.   Commercial and matchady revenue was broadly steady.

Hunting success

Leicester City's position at the top of the Premiership table is the first time any Midlands club have led the table beyond August since Aston Villa did in the autumn of 2001.  Leicester are also the first post-August leaders since 2002 who have not played in the Champions League during that period.

Aston Villa are, of course, now bottom, reflecting the sad state of West Midlands football.  At least local politicians, albeit under some pressuere, have agreed at last to set up a West Midlands Combined Authority.  Once again they are lagging behind Manchester.

Bolton's situation is perilous

Bolton's situation has become more complicated after it was revealed that chairman Phil Gartside is seriously ill.   The club enjoyed eleven years in the Premiership under his leadership, but have found life more difficult after their return to the Championship where they are currently bottom of the table.

The club has debts of £170m and there is no money available even for a single loan deal.  The search is on for new investors, but they are currently thin on the ground and there are other clubs on the market such as Wolves.

Cobblers staff turn on chairman

Northampton Town staff have taken the highly unusual step of using the club's website to criticise chairman David Cardoza.  He still owns the club and they demanded that he sell it 'within hours'.

The non-playing staff are in their fourth week without pay.   The club's bank accounts were frozen after Her Majesty's Revenue and Customs launched a winding up petition as a result of £166,000 of unpaid taxes. There is also an administration petition from Northampton Borough Council.