Wolverhampton Wanderers Football Club Annual Report & Accounts Wolverhampton Wanderers Football Club (1986) Limited This financial analysis examines the annual report and financial statements of Wolverhampton Wanderers Football Club (1986) Limited for […]
Paul Quinn
The Analysis Series: Burnley FC Holdings Limited annual report and financial statements 2024/25
Burnley FC Holdings Limited 2024/25 For the year ended 31 July 2025 Prepared on the basis of the audited statutory accounts (Companies House registration 08335231), together with publicly available reporting on ALK […]
Research: Clearlake Capital’s investment and lending exposure to Chelsea Football Club (BlueCo 22 Limited / 22 Holdco Limited Group): May 2022 – May 2026
Clearlake Chelsea Exposure Research 6 May 2026 Prepared as of 6 May 2026. Currency: figures cited in £ unless stated. Where SEC schedules report in USD, the original disclosure is preserved. Clearlake […]
Analysis Series: The Football Association Premier League Limited, Annual report and financial statements for the year ended 31 July 2025
The Football Association Premier League Annual accounts 2024/25 The Premier League is not a normal trading company. It is a near-pure pass-through vehicle: a single‑purpose monopoly licensor of broadcasting and commercial rights […]
The Analysis Series: NSWE UK Limited (Aston Villa) Accounts, year ended 30 June 2025
NSWE UK Annual Accounts 20242/5 Overview The Group reports a pre-tax loss of £96.7 million (FY24: 13-month loss of £85.2 million) and a post-tax loss of £96.8 million. Yet the parent statement […]
The Analysis Series: Chelsea, Clearlake, COP III – is the funding debt or equity? Unsurprisingly, there’s no clear answer
The complex funding arrangements of Chelsea Football Club (and to be fair, they’re not alone in having complex funding arrangements), there’s an increasingly public discussion as to how much is funded by […]
The Analysis Series: West Ham United relegation scenario analysis
The FY25 accounts already describe a club operating well outside its means even before any relegation shock is applied. Turnover collapsed from £268.2m to £226.1m on the back of the drop from […]
Talking the Blues podcast – Pre City, post West Ham…..
Welcome to this edition of Talking the Blues Podcast. George, Andy and myself eventually get back together to discuss in a totally unstructured way, Everton’s recent performances. The usual combination of insight, […]
Tottenham Hotspur relegation scenario analysis, financial and capital structure impact
Prepared: 3rd May 2026 Base accounts: Year ended 30 June 2025 Context: As at the date of this report, THFC sit 18th in the Premier League albeit with a game in hand […]
The Analysis Series: A deeper look at Chelsea’s ownership, BlueCo 22 Limited & 22 Holdco Limited (Year Ended 30 June 2025)
Following on from my initial analysis of the Chelsea ownership, I thought a further look at the two companies, Blueco 22 Limited and its parent company 22 Holdco Limited would be […]
The Analysis Series: Analysis of Everton Stadium Development Limited accounts, year ended 30 June 2025
Everton Stadium Development Limited Accounts 2024/25 Everton Stadium Development Limited (ESDL) is not a trading business in any meaningful sense; it is a special-purpose subsidiary whose entire reason for existing has been […]
The Analysis Series, a detailed look at the accounts of Eagle Football Group SA (EFG), formerly OL Groupe SA, the Euronext Paris-listed parent company of Olympique Lyonnais
Eagle Football Group Universal Registration Document-2024-2025 This is Eagle Football Group’s Universal Registration Document (referred to as URD or document in this report) for the fiscal year ended 30 June 2025, filed […]
The Analysis Series: Manchester City v The Premier League: The “115 Charges” case
The case: In February 2023, after a four-year investigation triggered by Der Spiegel’s November 2018 Football Leaks publications, the Premier League formally referred Manchester City to an independent commission alleging breaches of […]
Systemic collapse of Eagle Football Holdings must bring highly leveraged multi-club operations to a swift end
Eagle Football Holdings was initially marketed to global investors and regulatory bodies as a synergistic, highly integrated multi-club ownership (MCO) model, encompassing Olympique Lyonnais in France, Botafogo de Futebol e Regatas in […]
The Analysis Series: Analysis of the London Stadium legal disputes (2013-2026) – follow on to the West Ham United analysis
Following on from the analysis of West Ham United’s full year accounts for 2024/25, it’s worth looking at the legal disputes over more than a dozen years related to the London […]
The Analysis Series: Crystal Palace Football Club: Fiscal year 2024/25 and outlook
Crystal Palace Annual Report & Accounts 2024/25 The fiscal year 2024/25 provided unprecedented on-pitch success and a complete restructuring of the club’s institutional balance sheet. Categorised in recent years as a mid-tier […]
The Analysis Series: Systemic collapse of the Eagle Football multi-club ownership model: Comprehensive legal, financial, & regulatory analysis
The complete disintegration of Eagle Football Holdings multi-club ownership acts as a huge warning shot to regulators and fans alike regarding the globalisation of what remains (and should remain) independent local […]
The Analysis Series: Analysis of WH Holding Limited: Financial distillation, ownership transition, and structural viability of West Ham United (FY 2024–2025)
WH_Holding_Limited Annual Accounts Full Year 2025 The financial trajectory of WH Holding Limited, the parent entity of West Ham United Football Club, during the fiscal year ended May 31, 2025, amply demonstrates […]
The Analysis Series: Strategic and Financial Analysis of Arsenal Holdings Limited (2025) and the Kroenke Sports & Entertainment Empire
Arsenal Holdings Limited, Annual Report & Accounts 31-5-25 Combining sporting performance, global brand capitalisation, and intricate corporate finance, the Arsenal Group has reported a transformative set of accounts for 2024/25. Generating a […]
The Analysis Series: Leicester City’s fall from grace
Financial and strategic analysis of Leicester City Football Club and the King Power International Group The financial evolution of Leicester City Football Club Limited across 2024/25 and 2025/26 cycles demonstrates the fragility […]