This Week’s Free Stories
1. Manchester City’s Financial Scandal Is Getting Bigger
2. Everton’s Owners Are Already Considering Selling the Club
3. Barcelona’s Tyler, The Creator El Clásico Shirt
For Paid Subscribers
4. 94% of English Football Clubs Are Losing Money
5. Netflix’s 2030 World Cup Gamble
6. Football Clubs Are Borrowing Against Their Players
7. Manchester City’s Case Could Test the Football Regulator
Written by David Skilling
1. Manchester City’s Financial Scandal Is Getting Bigger
Manchester City’s financial misconduct case has moved beyond the Premier League, with questions now being raised about the club’s tax affairs and the work of its auditors.
The Financial Times has examined BDO, the firm that audited City’s accounts during the period in question, but that doesn’t necessarily mean it did anything wrong, because an auditor can be misled while still meeting its professional responsibilities. Whether that happened here, and whether sufficient checks were carried out, are separate questions.
I’ve discussed before that the consequences of City’s case could extend well beyond a points deduction, fine, or the stripping of titles. Football’s financial rules depend on clubs reporting their accounts accurately, and if a club can conceal information on this scale, the credibility of the entire system comes into question.
City’s appeal remains unresolved, so the eventual sanctions are still uncertain, but growing interest from institutions outside football suggests the fallout could continue long after the sporting punishment is decided, assuming the appeal is rejected.
2. Everton’s Owners Are Already Considering Selling the Club
Everton’s owners, The Friedkin Group, are exploring investment options that could include selling the club less than two years after taking control.
The group has confirmed that it’s open to relinquishing ownership if the right buyer emerges. A potential valuation of around £800m includes about £380m of long-term debt, a hefty figure for a club that has spent years dealing with financial problems, points deductions, and uncertainty over its future.
The club has a new home, improved matchday earning potential, and a Premier League place, offering investors something very different from the distressed business the Friedkins acquired.
I understand the financial logic, but supporters are entitled to question what this says about modern football ownership. Fans see a new owner as the start of a long-term commitment, while investment groups may see a business to be improved, revalued, and sold.
There’s nothing wrong with an owner making a profit. The concern is whether the next buyer will invest in Everton’s football ambitions or pay a premium for work someone else has already done.
Upcoming Clásico jersey to feature the logo of Tyler, The Creator
3. Barcelona Are Giving Tyler, The Creator Control of Their El Clásico Shirt
Barcelona will wear Tyler, The Creator’s GOLF logo on their shirts against Real Madrid on October 25th, continuing Spotify’s practice of replacing its own branding with major recording artists'.
This collaboration goes further than previous editions, with Spotify saying Tyler has full creative control, and the shirt is part of a wider project involving a short film, a GOLF WANG clothing collection, and a music event in Barcelona.
I think Barcelona and Spotify have achieved something very few football sponsorships do. They’ve made the activation itself part of the anticipation surrounding a fixture.
Most shirt sponsorships aim to maximise visibility, which is understandable when companies pay enormous amounts of money for the space, but Spotify has used the opportunity to introduce different artists to football’s audience, while creating shirts that can appeal to collectors and people who might not ordinarily buy Barcelona merchandise.
The test is whether these collaborations stay culturally relevant as they become more frequent, but for now, Barcelona have made a decent case for treating their shirt as more than a place to sell advertising.
That’s the free stories for this week.
There are four more below for paid subscribers, including why 94% of English football clubs are losing money, Netflix’s growing ambitions in football, and why clubs are borrowing against the value of their players.
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