The Analysis Series: Olympique Lyonnais, Two Ownership Transactions: the 2022 Eagle Football / John Textor acquisition and the 2026 Michele Kang / Olympe Bidco acquisition

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Analysis Series: Analysis of the financial & operational framework of Nottingham Forest Football Club Limited (2024-2026)

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The Analysis Series: Financial architecture of 22 Holdco Limited: Analysis of Ares Management’s credit exposure, warrants, and embedded derivative structures within the Blueco consortium

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The Analysis Series: The extra-ordinary £700 million loss by Chelsea’s parent company

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Premier League v Manchester City Analysis of the Independent Commission’s Core Decision (Redacted) The Disguised Funding Scheme, the Fordham Arrangement, remuneration devices and non-cooperation: findings, quantification, and implications for the league, the Independent Football Regulator, clubs and counterparties

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Paul Quinn CWTE Limited  |  theesk.org 29 September 2026 Primary source: “In the Matter of Premier League Section W Proceedings,  The Football Association Premier League Limited and Manchester City Football Club Limited […]

The Analysis Series: Manchester City FC & City Football Group board relationship mapping: the Abu Dhabi State, its Sovereign investment vehicles, directors’ private interests and club sponsors

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Author: Paul Quinn,  CWTE Limited Research current to 29 September 2026 Entities in scope: Manchester City Football Club Limited (00040946); Manchester City Limited (02989498); City Football Group Limited (08355862) This report maps documented […]

The Analysis Series: Sheffield United Ownership, finance and regulatory exposure FY2020/21 – FY2024/25 and post-balance-sheet events to 25 September 2026

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  Author: Paul Quinn, CWTE Limited Date: 28 September 2026   Summary This article examines the ownership, financing and regulatory position of The Sheffield United Football Club Limited (company no. 00061564) and its […]

Talking the Blues Podcast – catch up time, a bit of the Ipswich game before a really interesting discussion re Manchester City

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Welcome to this week’s Talking the Blues Podcast – we catch up on Everton before focus turns inevitably to the reported 114 breaches by Manchester City. A really interesting, thoughtful conversation which […]

After the reported verdict: Leadership, prevention and the recovery of English football’s integrity following the Manchester City commission findings

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After the reported verdict – an opinion paper  Item Detail Author Paul Quinn, CWTE Limited  Date 26 September 2026 Status Opinion. Written on the basis of the verdict as reported on 25 […]

The Analysis series: Manchester City v The Premier League, the verdict, the leak and governance failure

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What the 25 September 2026 press reports tell us, tested against my prior analysis, and how far the case evidences governance failure at League, club and Commission level Position as at:  Friday […]

The Analysis Series: Manchester United plc annual report, financial year ended 30 June 2025

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Paul Quinn|  CWTE Limited  |   24 September 2026 Primary source: Manchester United plc, Form 20-F for the year ended 30 June 2025 (filed 18 September 2025), including audited consolidated financial statements (auditor: […]

The Analysis Series: FC Barcelona: The €510m financing package and the complete debt position

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  Terms of the €210m Senior Secured Media Notes and the €300m Espai Barça extension, with a granular reconstruction of the club’s debt stack at 30 June 2026 and pro forma Item […]

The Analysis Series: Sovereign capital in professional sport

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Prepared by Paul Quinn CWTE Limited Summary Sovereign capital has become one of the three structural forces in professional sport, alongside North American private equity and multi-club ownership. It is, however, routinely […]

The Analysis Series: The Florida default judgment (15th September 2026) and the ownership of Botafogo SAF

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18th September 2026 What the Fifteenth Judicial Circuit actually decided on 15 September 2026, why Eagle Bidco did not defend, and why the declaration collides with the Brazilian share register, the CAM-FGV […]

Talking the Blues Podcast – post Wolves Carabao Cup win and update on the Friedkins’ intentions for Everton

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Welcome to this week’s Talking the Blues Podcast with George and Andy Costigan. We catch up on recent results including the Tottenham and Wolves’ results before turning our attention to the Friedkins’ […]

The Analysis Series: Chelsea FC: Clearlake’s acquisition of the Boehly and Walter stakes; transaction terms, valuation, source of funds, settlement mechanics and a return model for the selling shareholders

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Paul Quinn, CWTE Limited  Date:  17 September 2026 Companion papers:  Valuing Chelsea FC in 2026 (18 Aug 2026); Guggenheim and Chelsea FC (29 Aug 2026); Clearlake’s buy-out of Boehly & Walter (11 […]

The Analysis Series: Manchester City v The Premier League

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17th September 2026 The Unresolved “115 Charges” Case: Causes of Delay, Comparative Precedent, Stakeholder Implications and Consequences for the Decision and Appeal Previous Article Author: Paul Quinn, CWTE Limited  No liability decision […]

Opinion: CONTEMPT: The Friedkin Group’s treatment of Everton Football Club, its supporters, the community and the city of Liverpool

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15th September 2026 Contempt: a feeling for someone or something regarded as unworthy of respect or approval : disdain. Much of the content I have written in recent times has been deliberately […]

The Analysis Series: LIV Golf Chapter 11 Bankruptcy filings

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  September 12th 2026 Paul Quinn ·  CWTE Limited Previous LIV Article Income and expenditure, funding, the failed business model, governance failures, the distribution of loss, lessons for custodians and regulators of […]

The Analysis Series: Clearlake’s buy-out of Boehly & Walter: What the £5bn price means, what it changes at Chelsea FC, and what it does not

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  Paul Quinn,  CWTE Limited Date: 11 September 2026 Transaction status: Reported as close to agreement; unsigned and unannounced by the club or Clearlake as at the date of this report Series […]

When willingness fails; the LIV Golf Chapter 11 and the systemic fragility of sport built on discretionary capital

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  Paul Quinn, CWTE Limited 10 September 2026 Evidence base: Companies House and Jersey FSC filings, US bankruptcy reporting, Deloitte Annual Review of Football Finance (35th ed.), UEFA/Football Benchmark, Football Governance Act […]

Independent analytical report: Everton Football Club; Assessment of a prospective sale by the Friedkin Group

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6th September 2026 Prepared by: Paul Quinn CWTE  Financial data current to the audited accounts for the year ended 30 June 2025, published 31 March 2026. Market and transaction data current to […]

Talking the Blues Podcast: Groundhog day; transfer window woes – why? Ownership change?

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Welcome to this edition of Talking the Blues Podcast with George and Andy Costigan, in which we examine the final hours of this summer’s transfer window. We try to analyse what went […]

New issue of shares at Everton Football Club (on 13 August 2026) raising additional £14.175 million

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By Paul Quinn on 3rd September 2026 On the 3rd September 2026, Everton Football club confirmed a new capital raise amounting to £14.175 million, with 81,000 new shares issued to the club’s majority shareholders […]