An explanation of how the new format for UEFA competitions will work from next season, including an explanation of the revenue distribution. The number of clubs in the Champions League will increase from 32 to 36 with the group stage of 8 groups of 4 teams being replaced by a single league of 36 teams, then a new knockout round, before reverting to the traditional last 16.

Quick review of the money earned by England's Champions League representatives to date after this week's matches.

#MCFC lead the way with £93m, followed by the other quarter-finalists #AFC £80m. The two clubs eliminated in the group stage earned less: #MUFC £51m and #NUFC £29m. Champions League TV money is split into 4 elements:
- Participation Fee
- Prize Money
- UEFA coefficient
- TV pool

So Everton have been deducted 10 points by the Premier League for a breach of the Profitability & Sustainability Rules #EFC

I have frequently looked at their case, the last time during an overall review of FFP. The article can be found on my blog here swissramble.substack.com/p/financial-fa… However, given the importance of this decision, I've attached a series of screen shots from that article that help explain the background #EFC

Analysis of Rangers' 2022/23 financial results, when pre-tax loss slightly increased to £3m, as revenue fell 4% to £84m and operating expenses rose £11m, partly offset by profit on player sales more than doubling to club record £24m #RangersFC

swissramble.substack.com/p/rangers-fina…
In terms of profitability, #RangersFC and #CelticFC were at the opposite end of the spectrum with Rangers posting a small £3m pre-tax loss, while Celtic generated a record £41m profit.

Detailed review of the Deloitte Money League 2021/22 can be found on my Substack, but some snippets in this short thread.

swissramble.substack.com/p/money-league… #MCFC £619m reported the highest revenue, just ahead of #RealMadrid £605m with #LFC £594m up to 3rd, overtaking #MUFC £583m, #PSG £554m, #FCBayern £554m and #FCBarcelona £540m.

Detailed review of West Ham's financial results for the 2021/22 season is in my Substack blog, but a few highlights to follow #WHUFC #WHUFC swung from a £27m pre-tax loss to £12m profit, a £39m improvement.

Analysis of Manchester United's first quarter financials for the 2022/23 season. Loss increased, as operational improvement wiped out by higher interest. No dividend payment. Gross financial debt up to £680m. Highest ever PL transfer debt £307m #MUFC swissramble.substack.com/p/manchester-u… A few points from the detailed analysis of Manchester United's Q1 2022/23 results #MUFC

Sensational news emerging off the pitch this evening, as the #Juventus board, including President Andrea Agnelli, has resigned amid "legal and technical/accounting matters", citing issues which the club referred to as "salary manoeuvres”. This relates to players waiving part of their salaries in response to the COVID pandemic in 2019/20 and 2020/21 plus subsequent loyalty bonuses.

#CelticFC 2021/22 accounts cover a season when they regained the Scottish Premiership title under new manager Ange Postecoglou and also won the League Cup, but were eliminated from the Europa League after the group stage. #CelticFC swung from £11.5m pre-tax loss to £6.1m profit (£5.8m after tax), as revenue rose £27m (45%) from £61m to £88m and profit on player sales increased £20m from £9m to club record £29m, partly offset by £25m (29%) higher operating expenses and no repeat of £5m insurance.

I’ve had a few questions on the revenue impact of Barcelona’s exit elimination from this season’s Champions League after the group stage. As is often the case, the answer depends on how you look at it #FCBarcelona As per my model, #FCBarcelona have earned €70.2m from this season’s Champions League, comprising participation fee €15.6m, prize money €7.0m, UEFA coefficient €34.1m and TV pool €15.9m less €2.5m COVID rebate to broadcasters.

Manchester City’s 2021/22 accounts covered a season when they won the Premier League for the fourth time in five years (their sixth title in 11 years) and reached the semi-finals of the Champions League and the FA Cup. Some thoughts follow #MCFC #MCFC chairman Khaldoon Al Mubarak noted that it was also the most successful financial year in the club’s history with chief executive Ferran Soriano highlighting that City broke the club records for both revenue and profits.

After #Benfica won their Champions League group ahead of PSG and Juventus, I thought it might be interesting to take a look at their finances. The 2021/22 accounts cover a season when they only finished 3rd in Primeira Liga, but reached the CL quarter-finals #SLBenfica #SLB Benfica pre-tax loss widened from €34m to €42m (€35m after tax), despite revenue rising €75m (80%) from €94m to club record €169m, as profit from player sales fell €46m from €88m to €42m and expenses increased €37m (17%).

Thread on how much money clubs have already received after the Champions League 2022/23 group stage. Also includes estimates for English clubs in Europa League and Europa Conference League. Some assumptions made about the TV pool, but the figures should be reasonably accurate. The Champions League accounts for the lion’s share of UEFA revenue with its €2.032 bln being nearly 3 times as much as the Europa League and Europa Conference combined (€700m). The difference is particularly stark in the UEFA coefficient (based on 10-year rankings).

Some Liverpool fans are understandably unhappy with their team’s performances this season, identifying a lack of investment as one of the factors, particularly compared to Manchester City. This short thread will look at whether this is indeed the case #LFC #MCFC Most supporters focus on how much a club spends in the transfer market, so let’s start by looking at this. Unfortunately, the most recent accounts are only for the 2020/21 season, so we shall use Transfermarkt for transfer details in the last 2 years (2021/22 and 2022/23).

#FCBarcelona 2021/22 accounts cover a season when they finished 2nd in La Liga and were eliminated at the group stage of the Champions League before reaching Europa League quarter-finals. Head coach Ronald Koeman was replaced by Xavi in November. Some thoughts follow. #FCBarcelona swung from €555m pre-tax loss to €124m profit (€98m after tax), including €266m gain from TV rights sale. Revenue rose €48m (8%) to €639m and profit on player sales increased €24m to €28m, while operating expenses and interest payable were down €44m & €17m.

#Juventus 2021/22 accounts cover a season when they finished 4th in Serie A, won the Coppa Italia, but were eliminated in the Champions League last 16. The club noted that finances were “once again significantly penalised” by COVID. Some thoughts in the following thread. #Juventus pre-tax loss widened from €208m to €252m (€254m after tax), as revenue dropped €35m (8%) from €450m to €415m and profit on player sales fell €3m (9%) to €28m. Operating expenses rose €1m (6%), while net interest payable increased €5m (49%) to €16m.

#Ajax 2021/22 accounts cover a season when they won the Eredivisie, were finalists in the KNVB Cup and reached the Champions League last 16. Finances still impacted by the COVID pandemic. Some thoughts in the following thread. #Ajax pre-tax loss widened from €12m to €32m (€24m after tax), despite revenue rising €64m (51%) from €125m to €189m, as profit from player sales fell €48m from €86m to €38m and operating expenses increased €35m (16%).

#RealMadrid 2021/22 accounts cover a season when they won La Liga, the Champions League and the Supercopa de Espana . Their finances benefited from the effects of COVID “gradually subsiding” and the consequent return of fans to the stadium. Some thoughts in the following thread. #RealMadrid pre-tax profit improved from €1.7m to €20.2m (€12.9m after tax), as revenue rose €69m (10%) from €653m to €722m, though profit from player sales fell €44m to €62m and operating expenses shot up €323m (43%). Boosted by €316m capital gain from Sixth Street.

Manchester United’s 2021/22 accounts cover a season when they finished 6th in the Premier League and were eliminated in the last 16 of the Champions League. Manager Ole Gunnar Solskjaer was replaced by Ralf Rangnick, since succeeded by Erik ten Hag. Some thoughts follow #MUFC #MUFC pre-tax loss shot up from £24m to £150m, despite revenue rising £89m (18%) from £494m to £583m, thanks to recovery from COVID and return of fans to the stadium, plus profit on player sales increasing £15m to £22m, as expenses rose £154m (29%) after investment in the squad.

The Premier League has published details of the TV payments to clubs for the 2021/22 season. These amounted to £2.5 bln, ranging from £153m for champions #MCFC to £101m for 20th placed #NCFC (the first time the bottom club got more than £100m). The largest increases compared to the previous season came at #BHAFC, up £16m, and #AFC, up £11m. In contrast, three clubs received over £10m less than 2020/21: #LUFC £17m, #EFC £13m and #LCFC £11m.

In advance of football clubs starting to publish their accounts for the 2021/22 season, I thought it might be helpful to share some 2-page financial overviews for each of the Premier League clubs for 2020/21, including a comparison against prior year and a 5-year graphical trend. These overviews also include Premier League rankings for each of the main financial categories, e.g. which club had the highest profit, loss, revenue, wages, debt, transfer spend, etc in 2020/21.