Latest news with #financialproblems
Yahoo
2 days ago
- Business
- Yahoo
Barcelona want to secure €120m agreement that would help ease financial woes
Barcelona are doing a lot of work to ensure that their well-documented financial problems are overcome in the next few years. Player sales and new sponsorship agreement have helped, and on top of this, the Catalan club wants to renegotiate the terms of the existing deal they have with Spotify. Similar to how they struck a new agreement with Nike last year, Barcelona want to secure better terms with Spotify, as MD have reported. The music streaming platform, who have been the main sponsors for the men's and women's sides since 2022, see their deal with the La Liga champions expire next summer. Image via Marca Barcelona are at a disadvantage in this situation Currently, Barcelona receive approximately €75m per year from Spotify (€65m/year base plus bonuses (€70m total), as well as separate €5m/year payment for naming rights at the Camp Nou). However, there is a desire from club officials that the kit sponsorship is now worth €120m, which is almost double of what they are receiving now. The problem for Barcelona is that they are not in an advantageous position on this matter, given that Spotify can unilaterally extend their existing agreement until 2030 – and by doing so, they would only pay a total of €80m/year, and it can be extended further to 2034, where the total payment per year would be €90m. Barcelona believe that they are much more marketable nowadays due to having stars such as Lamine Yamal, Pedri and Raphinha, as well as Femeni stars Aitana Bonmati and Alexia Putellas. This is their justification for believing that kit sponsorship should be valued at €120m. It remains to be seen whether Barcelona are able to seek a new agreement with Spotify, but they are not in the best position when it comes to negotiations, which are expected to take place in the coming months.
The Sun
4 days ago
- Business
- The Sun
Former EFL side at risk of being KICKED OUT of National League and set deadline to fix ‘serious financial problems'
MORECAMBE are in danger of being booted out the National League amid huge financial problems. The Shrimps were relegated from League Two last season as they fell out the EFL for the first time since 2007. 1 Morecambe owner Jason Whittingham took over in 2018 but has been looking to sell for the last three years. Despite bids to buy the club, a sale has still not gone through and they are in danger of administration. After transfer bans, point deductions and unpaid wages in recent years, Morecambe now face further punishments and being kicked out the league cannot be ruled out. A statement from the fifth tier read: "The National League continues to have serious concerns surrounding Morecambe Football Club and its compliance with National League rules. "The National League met with Jason Whittingham earlier this week where discussions regarding the club's ability to meet its financial obligations for the 2025/2026 season took place. "The National League's Club Compliance and Licensing Committee wrote to Mr Whittingham on Thursday 24 July 2025 to outline terms that must be met by 12 noon on Monday 28 July 2025. "The National League's Club Compliance and Licensing Committee will reconvene on the afternoon of Monday 28 July 2025 to discuss the matter again and discuss possible further sanctions." It comes after a group named the Panjab Warriors had a takeover bid approved by the EFL in June. The board threatened to put Morecambe into administration to force through the sale. Whittingham responded by sacking the entire board before later inviting them back to oversee the final stages of the takeover. Then just a few days later they resigned when control was still not relinquished by Whittingham. The owner then said a last-gasp bid was made by a group led by Jonny Cato. Fans are still waiting for a sale and legal action is being threatened by a group of minority shareholders. Rugby club Worcester Warriors were expelled from the Premiership under Whittingham's management in 2022.
Forbes
10-06-2025
- Business
- Forbes
UEFA Wants To Hit FC Barcelona With $68.5 Million Sanction
European soccer governing body UEFA proposed hitting Spanish giant FC Barcelona with a $68.5 million ... More fine as part of sanctions according to Mundo Deportivo, which cited anonymous sources. European soccer governing body UEFA proposed hitting Spanish giant FC Barcelona with a $68.5 million fine as part of sanctions according to Mundo Deportivo, which cited anonymous sources. Once one of the sport's most monied clubs, Barca has battled financial problems since an economic crisis at the turn of the decade brought on by the pandemic's lack of matchday revenue and overpaying for signings took it to the brink of oblivion. Facing what were set to be four long years without the La Liga title, FC Barcelona and its president Joan Laporta got creative by pulling a series of what Laporta called 'financial levers' in the summer of 2022. This involved operations such as selling 10% of future television broadcasting rights to American investment group Sixth Street for €207.5 million, and then another 15% to the same party for €315 million, in order to raise the funds required to sign the likes of Raphinha, Robert Lewandowski and Jules Kounde. The move proved successful in that then-head coach and midfield legend Xavi Hernandez made Barca Spanish champions once more. Yet while La Liga accepted these financial gymnastics, UEFA did not look on them too kindly and argued that the sales of the television broadcasting rights stakes could not be defined as 'operating income'. That's why Barca was sanctioned by UEFA in 2024 but ended up paying just €500,000 after appealing to the Court of Arbitration for Sport (CAS). As explained by Mundo Deportivo, however, the European authority is not satisfied and wants to hit Barca with a hefty sanction of $68.5 million (€60 million). Laporta is relying on his cordial relationship with UEFA president Aleksandr Ceferin to work something out, and he's argued that Barca is not a SAD or 'Public limited sports company' and therefore cannot make capital increases. Furthermore, Barca is allowed to make a sale of assets for a certain period of time in Spain, and La Liga president Javier Tebas validated the levers at the time they were pulled. After Laporta used his charm, UEFA has agreed to reduce the fine from €60 million to €15 million providing the club complies with it and La Liga's FFP rules. Even if the fine is still only €15 million, it is still a hefty blow for a club like FC Barcelona, which is still on the road to recovery. It's not far off the €25 million it needs to raise to pay Joan Garcia's release clause, and could affect pursuits for the likes of Manchester United's Marcus Rashford or Liverpool's Luis Diaz elsewhere.
Daily Mail
06-06-2025
- Business
- Daily Mail
EXCLUSIVE New unpleasant blow for Kristina Rihanoff after her split from Ben Cohen - so can she ever shake the 'Curse of Strictly'?
'Curse of Strictly ' star Kristana Rihanoff - still reeling from her split from Ben Cohen - today faces a new blow: the yoga business they co-founded is almost £500,000 in the red. The former professional ballroom dancer today published two years of accounts which show that the financial problems blamed for their high-profile split have not abated.
CBC
04-06-2025
- Business
- CBC
Glace Bay volunteer fire dept turns over budget to CBRM
The rising cost of running a fire department is forcing the Glace Bay volunteer service to hand over its operating budget to CBRM. As Kyle Moore reports, they're not the only department having financial problems.
