Latest news with #IndependentFootballRegulator
Yahoo
12-06-2025
- Business
- Yahoo
Premier League operating profit hits five-year high as PSR bites
Premier League clubs recorded their highest collective operating profit since 2019 last year as controversial PSR regulations enforced a greater emphasis on balancing the books. Aggregate operating profits among the 20 teams in the top division increased by 36 per cent to £533m in 2023-24, according to Deloitte's latest Annual Review of Football Finance published today. Premier League clubs' revenue grew four per cent to a record £6.3bn which, combined with tougher profitability and sustainability rules (PSR), led to their best operating profit figures since before the Covid-19 pandemic. 'We are starting to see a bit of a ripple when it comes to clubs focusing on compliance within regulations,' Jennifer Haskel, knowledge and insight lead in the Deloitte Sports Business Group, told City AM. 'As we continue within this evolving regulatory landscape, clubs are being run more and more as traditional businesses. While clubs are continuing to grow the top line and diversify their revenue streams, hopefully that will lead to more long term sustainability and profits.' Both Everton and Nottingham Forest received points deductions in the 2023-24 season for breaching PSR, while other teams – including Aston Villa and Chelsea – narrowly avoided sanctions with some late player trading. Premier League clubs made a pre-tax loss of £136m, although that was an improvement of almost £550m on the previous season. The relegation of heavily loss-making teams also contributed to the improvement. The total European football market grew by eight per cent to a record €38bn, with the Big Five leagues – England, Spain, Italy, Germany and France – generating more than €20bn for the first time. That growth may plateau due to a French media rights crisis, however, Deloitte said. Ahead of the imminent introduction of the Independent Football Regulator, meanwhile, the report warns that 'there can be no doubt that the system in English football is under strain'. 'We still await the output of the Independent Football Regulator to fully understand how this may impact the game in England, but it is clear that the way in which the game is governed and the regulation that underpins it needs to seek to drive value, fan engagement (both physical and digital) and competitive balance,' writes Deloitte's lead sports partner Tim Bridge. 'The level of interest and the demand to engage with English football remains high and investors still see the opportunity, particularly when there is a strong community link or adjacent investment opportunities, but the lack of clarity over the future regulatory regime is now unhelpful.' Sign in to access your portfolio
Yahoo
03-06-2025
- Business
- Yahoo
Lisa Nandy to be quizzed on football regulator after accusations of cronyism
A full inquiry has been launched into Lisa Nandy's proposed appointment of David Kogan as chairman of the Independent Football Regulator following accusations of cronyism. William Shawcross, the commissioner for public appointments, has opened an investigation in the wake of Kogan's revelation last month that he had donated to the Culture Secretary's Labour leadership campaign. Shawcross, whose intervention has been welcomed by the Conservatives, confirmed the inquiry in an email to Susannah Storey, the Department for Culture, Media and Sport's permanent secretary, last Thursday. He wrote: 'Having now completed an initial assessment of this case, informed by spot checks, I believe that a full inquiry into the campaign is necessary. 'This inquiry will be conducted with the object of ensuring that the appointment was made in accordance with the Governance Code on Public Appointments, including the principles of public appointments. I would be grateful if you could ensure that all requests for information relating to this campaign are fulfilled quickly and in full. 'Once my office has received all the relevant correspondence and documents, the inquiry will take the time necessary to clarify the procedures and practices followed by the appointing authority during this campaign. 'This is likely to involve interviews with key participants, including the Government's preferred candidate and the Secretary of State. The outcome of this inquiry will be sent to participants and published on the office's website.' Kogan, a media executive nominated as the first chair of the new football regulator in April, told MPs last month that he had made 'very small' contributions both to Nandy and Sir Keir Starmer's 2020 Labour leadership campaigns. The admission reignited the row over 'crony' appointments by the party, which was accused by the Conservatives of breaching transparency rules. Stuart Andrew, Shadow Culture Secretary, said: 'This appointment bears all the hallmarks of yet more Labour cronyism. After significant public pressure, Lisa Nandy has belatedly stepped aside from the process, a necessary move that highlights just how compromised this selection has become. 'No 10 must now come clean about the involvement of the Downing Street appointments unit and special advisers in promoting David Kogan as the preferred candidate. The public has a right to know whether this was a fair and impartial process, or yet another case of political patronage disguised as due diligence. The decision to launch an inquiry is welcome.' A DCMS spokesperson said: 'We have received the letter from the commissioner for public appointments and we look forward to cooperating fully with his office. The appointment is in the process of being ratified in the usual way.' Kogan appeared before the Culture, Media and Sport select committee on May 7 after being named by Nandy as the Government's preferred choice to lead the new body. 'I am prepared to declare now, on the public record, that five years ago I contributed very small sums of money to both the leadership campaigns of both Sir Keir Starmer and of Lisa Nandy,' he said, after reports he also donated £75,000 to Labour MPs. 'That hasn't been discovered by the press and I am happy to declare it now,' he said, insisting he had 'total personal independence from all of them', and had 'never actually been particularly close to any of the individuals to whom I have donated money'. He told MPs: 'I'm not really susceptible to any pressure, including political pressure, and the so-called ties to the Labour Party are, in fact, far less than have appeared in the public press. 'I don't believe that I have undermined that [independence] by writing books about the Labour Party, being on the LabourList board or being a donor, but clearly that's a judgment call that others may need to make, rather than myself.' Kogan added that he had 'never had a one-on-one meeting' with Starmer and had not met him since he became Prime Minister, but recognised there was 'a perception of bias'. The donations to Starmer and Nandy's leadership campaigns are understood to have been below the threshold for public declaration. A source told Telegraph Sport they were each less than £3,000. Following Kogan's select committee appearance, Louie French, the shadow sports minister, said the failure to disclose those donations publicly was 'a clear breach of the governance code on public appointments' and called for an investigation. He said: 'The decision to install David Kogan – a major Labour Party donor and former director of LabourList – as chair of the Independent Football Regulator, without disclosing his extensive personal political donations to Keir Starmer, is a serious breach of public trust. 'Fans were promised an impartial and independent regulator, but instead they are being handed a political appointee whose impartiality is already in question.' The Prime Minister's official spokesman said at the time that Kogan's appointment had been 'made as a result of fair and open competition' and run 'in accordance with the Government's code on public appointments'. The spokesman repeated that all rules had been followed when asked whether Nandy or Starmer had declared the donations from Kogan during the appointment process. He said: 'The declaration process as set out by the rules has obviously been followed. The process for appointing him to the role has been followed and will continue to be followed.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Glasgow Times
03-06-2025
- Politics
- Glasgow Times
Inquiry launched into appointment of football regulator chairman
David Kogan, a media rights expert, was named as the Government's preferred candidate to chair the Independent Football Regulator in April, and his appointment was endorsed by a cross-party committee of MPs last month. But the revelation that he had donated money to both Sir Keir Starmer and Culture Secretary Lisa Nandy – as well as other Labour figures – drew complaints from the Conservatives and calls for the commissioner for public appointments to investigate. In a letter to the permanent secretary at the Department for Culture, Media and Sport, commissioner Sir William Shawcross said he had carried out a series of 'spot checks' and now believed a full inquiry into Mr Kogan's appointment was 'necessary'. David Kogan, the Government's preferred candidate (House of Commons/UK Parliament) Sir William's inquiry will look into whether the rules on public appointments were followed, and is likely to involve interviews with both Mr Kogan and Ms Nandy. Mr Kogan was originally approached about the football regulator job by the Conservatives while they were still in office, and has advised the Premier League, EFL and other leagues on broadcast rights. He has also donated thousands of pounds to Labour MPs and candidates in recent years, and sat on the board of Labour news website LabourList. During his pre-appointment hearing with the Commons Culture, Media and Sport Committee – which later backed his appointment – he revealed he had also donated 'very small sums' to Sir Keir and Ms Nandy's leadership campaigns in 2020. Those donations had not previously been revealed as they were below the threshold for public declaration. A week later, Ms Nandy wrote to the committee to inform MPs that she had stepped back from making the final decision on whether to appoint Mr Kogan, delegating the choice to sport minister Stephanie Peacock. Stuart Andrew, the Conservative shadow culture secretary, said Mr Kogan's appointment 'bears all the hallmarks of yet more Labour cronyism', adding Ms Nandy's decision to step back 'highlights just how compromised this selection has become'. He said: 'Number 10 must now come clean about the involvement of the Downing Street appointments unit and special advisers in promoting David Kogan as the preferred candidate. 'The public has a right to know whether this was a fair and impartial process, or yet another case of political patronage disguised as due diligence.' Mr Kogan did not comment on the launch of the inquiry.
North Wales Chronicle
02-06-2025
- Politics
- North Wales Chronicle
Inquiry launched into appointment of football regulator chairman
David Kogan, a media rights expert, was named as the Government's preferred candidate to chair the Independent Football Regulator in April, and his appointment was endorsed by a cross-party committee of MPs last month. But the revelation that he had donated money to both Sir Keir Starmer and Culture Secretary Lisa Nandy – as well as other Labour figures – drew complaints from the Conservatives and calls for the commissioner for public appointments to investigate. In a letter to the permanent secretary at the Department for Culture, Media and Sport, commissioner Sir William Shawcross said he had carried out a series of 'spot checks' and now believed a full inquiry into Mr Kogan's appointment was 'necessary'. Sir William's inquiry will look into whether the rules on public appointments were followed, and is likely to involve interviews with both Mr Kogan and Ms Nandy. Mr Kogan was originally approached about the football regulator job by the Conservatives while they were still in office, and has advised the Premier League, EFL and other leagues on broadcast rights. He has also donated thousands of pounds to Labour MPs and candidates in recent years, and sat on the board of Labour news website LabourList. During his pre-appointment hearing with the Commons Culture, Media and Sport Committee – which later backed his appointment – he revealed he had also donated 'very small sums' to Sir Keir and Ms Nandy's leadership campaigns in 2020. Those donations had not previously been revealed as they were below the threshold for public declaration. A week later, Ms Nandy wrote to the committee to inform MPs that she had stepped back from making the final decision on whether to appoint Mr Kogan, delegating the choice to sport minister Stephanie Peacock. Stuart Andrew, the Conservative shadow culture secretary, said Mr Kogan's appointment 'bears all the hallmarks of yet more Labour cronyism', adding Ms Nandy's decision to step back 'highlights just how compromised this selection has become'. He said: 'Number 10 must now come clean about the involvement of the Downing Street appointments unit and special advisers in promoting David Kogan as the preferred candidate. 'The public has a right to know whether this was a fair and impartial process, or yet another case of political patronage disguised as due diligence.' Mr Kogan did not comment on the launch of the inquiry.
South Wales Guardian
02-06-2025
- Politics
- South Wales Guardian
Inquiry launched into appointment of football regulator chairman
David Kogan, a media rights expert, was named as the Government's preferred candidate to chair the Independent Football Regulator in April, and his appointment was endorsed by a cross-party committee of MPs last month. But the revelation that he had donated money to both Sir Keir Starmer and Culture Secretary Lisa Nandy – as well as other Labour figures – drew complaints from the Conservatives and calls for the commissioner for public appointments to investigate. In a letter to the permanent secretary at the Department for Culture, Media and Sport, commissioner Sir William Shawcross said he had carried out a series of 'spot checks' and now believed a full inquiry into Mr Kogan's appointment was 'necessary'. Sir William's inquiry will look into whether the rules on public appointments were followed, and is likely to involve interviews with both Mr Kogan and Ms Nandy. Mr Kogan was originally approached about the football regulator job by the Conservatives while they were still in office, and has advised the Premier League, EFL and other leagues on broadcast rights. He has also donated thousands of pounds to Labour MPs and candidates in recent years, and sat on the board of Labour news website LabourList. During his pre-appointment hearing with the Commons Culture, Media and Sport Committee – which later backed his appointment – he revealed he had also donated 'very small sums' to Sir Keir and Ms Nandy's leadership campaigns in 2020. Those donations had not previously been revealed as they were below the threshold for public declaration. A week later, Ms Nandy wrote to the committee to inform MPs that she had stepped back from making the final decision on whether to appoint Mr Kogan, delegating the choice to sport minister Stephanie Peacock. Stuart Andrew, the Conservative shadow culture secretary, said Mr Kogan's appointment 'bears all the hallmarks of yet more Labour cronyism', adding Ms Nandy's decision to step back 'highlights just how compromised this selection has become'. He said: 'Number 10 must now come clean about the involvement of the Downing Street appointments unit and special advisers in promoting David Kogan as the preferred candidate. 'The public has a right to know whether this was a fair and impartial process, or yet another case of political patronage disguised as due diligence.' Mr Kogan did not comment on the launch of the inquiry.
