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Russia's Second-Tier Football League Proposes Salary Cap After Spate Of Bankruptcies

04 / 25 / 14

The Football National League (FNL), Russia's second tier football league, has proposed a salary cap of 300,000 rubles ($8,400) a month for players as of next season in a bid to improve the financial situation of the league's squads. The league has also proposed to introduce a cap on a player's total...

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Tags: Finance, Russia

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League One Carlisle Posts $1.1M Losses

League One side Carlisle United has posted losses of more than £660,000 ($1.1M) in its "latest set of accounts," according to FC BUSINESS. It has been a "difficult year for the club both on and off the field." The struggles on the field "have brought an equal and direct effect on the club&rsqu ...

Tags: Finance, United Kingdom

Brazil Football Clubs Net Record Sales

Brazil's economy "may be facing a slowdown but there is one business in Latin America’s largest economy that is reporting record growth rates: football," according to Joe Leahy of the FINANCIAL TIMES. A study by Itaú BBA bank indicated that the revenues of Brazil’s top 24 teams gr ...

Tags: Finance, Brazil

IMG Worldwide Bids Reach $2.7B

Bids for IMG Worldwide have hit $2.7B, "topping initial expectations," according to Claire Atkinson of the N.Y. POST. A group headed by media investor Peter Chernin and CVC Capital has "recently tendered the highest bid." The 53-year-old agency "was thought to have a valuation" of around $2B. Cherni ...

Tags: Finance, Europe

French Clubs To Strike Over 75% Tax Plan

French football clubs "will go out on strike for the first time in more than 40 years next month in protest at government plans to tax top earners 75 percent," according to Nick Reeves of the AFP. The first lockdown in the professional French game since '72 is scheduled for the last weekend of Novem ...

Tags: Finance, Europe

Spanish Football Debt Decreasing

Spain's Education, Culture & Sports Minister José Ignacio Wert on Wednesday assured that "a situation of economic equilibrium in Spanish football is getting closer," according to the EFE. Wert: "We have found with great satisfaction that goals are being met. There has been a very substant ...

Tags: Europe, Finance

1860 Munich Reveals €6.3M Loss In '11-12

Second Bundesliga club 1860 Munich "has unveiled its delayed financial results for the '11-12 fiscal year," according to Filippo Cataldo of the ABENDZEITUNG MÜNCHEN. Only one year after investor Hasan Ismaik joined the club, 1860 Munich made a loss of €6.3M. The club's debt stood at € ...

Tags: Finance, Europe

M6 To Reconsider Football Investment

Ligue 1 Girondins de Bordeaux board member and President of broadcaster M6, the majority shareholder of the club, Nicolas de Tavernost said that "should the negative signals toward football in regards to a 75% tax continue, we would reconsider our investment in football," according to the AFP. De Ta ...

Tags: Finance, Europe

LFP Boss Analyzes League's Finances

Spanish Football League (LFP) President Javier Tebas said that league management "will not allow the extent of debt that clubs have accumulated in recent years," according to MARCA. Tebas highlighted that "last season, teams reduced their debts by 12%." Tebas: "We are being very vigilant with our de ...

Tags: Europe, Finance

UEFA Audit Shows $6.7B In Fixed Assets

A UEFA audit of the 237 clubs competing in this season's Champions League and Europa League found that the clubs hold €4.9B ($6.7B) "worth of long-term assets," according to Peter Staunton of GOAL. The audit also found that more than "half of the clubs competing in Europe this season still pla ...

Tags: Europe, Finance

Portuguese Side Porto Posts $28M Profit

Portuguese side FC Porto has turned in a "chunky" €20.3M ($27.8M) profit for the '12-13 season, according to Gareth Messenger of INSIDE WORLD FOOTBALL. The profit "came against a loss" of €35.7M in the previous campaign and "despite a 39% slump in ticket revenue." Porto Dir Angelino Ferrei ...

Tags: Finance, Europe

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