A look at the EFL Championship's new Squad Cost Rules that will operate from this season and why they are similar to the Premier League's SCR framework, but also very different.

Leicester’s gross financial debt decreased by £63m from £226m to £163m in 2024/25, largely due to owners converting £124m into equity. However, external debt nearly doubled from £55m to £104m (6th highest in Premier League) #LCFC

Leicester's large £71m loss in 2024/25 was partly due to only making £7m profit from player sales. This has been an important element in the club's business model #LCFC

Leicester have reported seven consecutive years of losses, adding up to a chunky £393m. This is in stark contrast to the £92m profit they generated in 2016/17, when they reached the Champions League quarter-finals #LCFC

I’ve held off writing about Leicester City for a while, as there is so much going on at the club (two relegations, PSR issues, points deduction, talk of new investors), but I’ve finally grasped the nettle, so here’s a deep dive into their financial situation #LCFC

FIFA’s plan to sell a stake in its commercial operations to outside investors is thankfully dead in the water, but what was behind this proposal? What would have been the implications for the beautiful game if Infantino had got his way? This is explored in today’s FREE ARTICLE.

Fantastic gig by The Wombats at a very hot X-tra in Zürich tonight 🔥

Oxford have seen a significant increase in their debt, which has almost tripled in the last three years from £21m to £58m, all owed to the shareholders #oufc

Oxford’s wage bill almost doubled, rising £10.4m (92%) from £11.3m to £21.7m, as they tried to build a squad that could be competitive, but still one of the lowest in the Championship #oufc

Oxford’s revenue more than doubled in the Championship, rising from £8.4m in League One to a club record of £19.0m. Will obviously fall back after relegation #oufc

Oxford’s bottom line has steadily worsened, dropping from a £1.5m pre-tax profit in 2019/20 to a £17.5m loss in 2024/25. In particular, losses have significantly increased in the last three seasons #oufc

Huge amount going on at Oxford United, featuring promotion to the Championship for first time in 25 years, followed by relegation to League One, uncertainty around the stadium, numerous changes off the pitch and a transfer embargo, so here's a review of their finances #oufc

Bayern have also ramped up their transfer spend, averaging €185m in the last three seasons, which is more than twice as much as the €87m outlay in the preceding 3-year period.

Bayern’s wage bill has similarly shot up, rising €94m (27%) in just three years from €349m to €443m, the sixth highest in Europe.

Bayern set a new ongoing revenue record for the third year in a row, so this has grown by 32% since 2021/22, rising by €207m from €654m to €861m. Including income from player sales (per the club definition), revenue is just under a billion Euros at €978m.

Bayern have generated €440m pre-tax profit in the last 10 years alone. Indeed, the only seasons when the net result was not a substantial positive were those that were adversely impacted by the COVID pandemic.

It's a truism that nearly all football clubs lose money, but there are a few exceptions to the rule, not least Bayern Munich, who have been profitable for an incredible 33 years in a row. Here's a review of how they've done it #FCBayern

Absolutely blinding gig by Two Door Cinema Club at X-tra in Zürich tonight 🔥

Rumours abound that Newcastle United’s captain, Bruno Guimarães, will be the next big name player to leave St James’ Park. Financial regulations have been blamed, which has puzzled many fans after the big money sales of Isak, Gordon and Tonali, but is that really the case? #NUFC

Stoke's wages were trimmed in 2024/25 from £34.4m to £33.2m, which was the second lowest since relegation, having fallen by nearly two-thirds from the £94.2m peak in 2017/18.

Stoke’s revenue has grown by £4.2m (14%) in the last couple of seasons from £31.2m to £35.4m, though this is down £92m (72%) since relegation from the Premier League.

Excluding exceptional profits from loan write-offs and asset sales, Stoke have lost a hefty £261m in the last eight years.

Stoke swung from a £25.7m pre-tax loss to a substantial £60.8m profit in 2024/25, though this was entirely due to the waiver of £90.5m of inter-company loans. Excluding this factor, their loss widened to £29.7m.

As Stoke City continue to buy new players this summer, a look at the club's finances, exploring their challenges and opportunities, largely based on the latest available accounts from 2024/25 #SCFC

One of the problems when reviewing a football club’s finances is that accounts are generally only published nine months after the season has ended, so are invariably out-of-date. Therefore, for many years I have produced my own forecasts for the current state of play.

Following yesterday's announcement, UEFA have fined English clubs €158m in last two years for breaches of Football Earnings and Squad Cost rules (unconditional €59m + conditional €99m): Chelsea €94m, Aston Villa €48.5m, Newcastle United €13m and Nottingham Forest €2.5m.

Great gig by Linkin Park at the Letzigrund, despite a torrential rainstorm mid show. Obviously can’t be the same without Chester, but Emily is really good 🔥

Ipswich spent £113m on player purchases after promotion, which was around twice as much as the previous 15 years combined. It was also tenth highest in the Premier League, as they tried to catch up with more established rivals #ITFC

However, the revenue growth was largely eaten up by higher costs, e.g. Ipswich's wages rose £33m (73%) from £44m to a new club record £77m. However, this was by some distance the lowest in the Premier League #ITFC

Ipswich’s revenue was obviously much higher after promotion to the Premier League, establishing a massive new club record of £155m #ITFC