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 […]
Infinite Blue
I normally hide away my poetry on Substack, but it’s Derby day! Enjoy! Infinite Blue The world was Chaos once, a rude and undeveloped mass, A shapeless heap where […]
Analysis Series: Analysis of the financial & operational framework of Nottingham Forest Football Club Limited (2024-2026)
Nottingham Forest Annual Accounts 2024/25 Nottingham Forest Football Club Limited over the reporting period ending 30 June 2025, and into the subsequent 2025/26 campaign, has been subject to (beneficiary of?) one of […]
The Analysis Series: Apollo Global Management’s exposure to European football & private credit financing
Apollo General Management Full year results 2025 Central to the financial evolution across European football is the emergence of alternative asset managers, with Apollo Global Management, Inc. (NYSE: APO) positioning itself as […]
The Analysis Series: Analysis of Tottenham Hotspur Football & Athletic Co. Ltd and Tottenham Hotspur Limited: Strategic Review of the 2024-25 Fiscal Period
Tottenham-Hotspur-limited-full year 2024/25 Accounts The financial reporting period ending 30 June 2025 shows a critical inflection point in the modern history of Tottenham Hotspur. It is a period characterised by the starkest […]
The Analysis Series: Financial and systemic analysis of Manchester United plc (2024/25):
Manchester United Financial Results (2024/25) The financial architecture of elite global sports franchises has undergone a profound change over the past two decades. No longer operating as localised civic institutions governed by […]
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
For anyone wanting an understanding of how Chelsea are funded and how Ares operate this is a must read: Summary and macro-financial context The global sports finance landscape has undergone a profound […]
The Analysis Series: Liverpool Football Club and Athletic Grounds Limited: Re-capitalisation, Operational Resilience, and Systemic Risk Assessment (Fiscal Year 2025)
Liverpool FC Financial Accounts 2024/25 The financial statements of The Liverpool Football Club and Athletic Grounds Limited for the period ending 31 May 2025 show a Premier League institution transitioning from an […]
The Analysis Series: Aston Villa – Analysis of NSWE Sports Limited: Capital management, subsidiary disposals, and a path to fiscal sustainability? (2024/25)
NSWE Sports Capital Accounts 2024/25 The financial performance of NSWE Sports Limited for the fiscal year ending 30 June 2025 is a further study in the intersection of elite sporting ambition and […]
The Analysis Series: Financial analysis of Manchester City Football Club: Fiscal Year 2024-25 and Post-Balance Sheet developments through April 2026
Manchester City Annual-Report-2024-25 The 2024-25 financial year represents a transformative year for Manchester City Football Club (MCFC). For the first time in nearly a decade, the club encountered a convergence of on-pitch […]
The Analysis Series: Analysis of Newcastle United Limited financial results (2024-2025)
Newcastle_United_Limited 2025, Statutory_Financial_Statements Following the 2021 acquisition by a consortium led by the Public Investment Fund (PIF) of Saudi Arabia, Newcastle United have navigated a complex equilibrium between aggressive squad investment […]
Analysis of the financial restructuring and institutional recapitalisation of Everton Football Club and Roundhouse Capital Holdings Limited
Roundhouse Capital Accounts 2024/25 Executive Summary and institutional context The financial reporting period ending June 30, 2025, presents a total institutional reset for Everton Football Club. Following nearly a decade of fiscal […]
Final analysis of the financial reconstruction and stewardship transition of Everton Football Club and Everton Stadium Development Limited for the 2024/25 Fiscal Period
With the publication of the Everton Stadium Development Company Accounts 2024/25, it is possible to complete the analysis of the fiscal year ending 30 June 2025. Everton Stadium Development Company Accounts 202425 […]
The Analysis Series: The extra-ordinary £700 million loss by Chelsea’s parent company
Analysis of the financial performance and capital structure of 22 Holdco Limited: 2024-25 fiscal review 22 Holdco 2024/25 accounts The consolidated financial statements of 22 Holdco Limited for the fiscal year ended […]