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May 16, 2014

Big spending PSG, Man City punished for excessive losses

LONDON (Reuters) – Manchester City and Paris St Germain, two of the newly rich clubs in European soccer, have been fined up to 60 million euros ($82.23 million) and had their squads capped for next season’s Champions League after breaching UEFA’s financial rules.

As part of their settlement with UEFA, Premier League champions City, owned by Abu Dhabi’s Sheikh Mansour, and Qatari-owned French champions PSG have also agreed to curbs on transfer spending over the next two seasons.

May 16, 2014

Soccer-Big spending PSG, Man City punished for excessive losses

LONDON, May 16 (Reuters) – Manchester City and Paris St Germain, two of the newly rich clubs in European soccer, have been fined up to 60 million euros ($82.23 million) and had their squads capped for next season’s Champions League after breaching UEFA’s financial rules.

As part of their settlement with UEFA, Premier League champions City, owned by Abu Dhabi’s Sheikh Mansour, and Qatari-owned French champions PSG have also agreed to curbs on transfer spending over the next two seasons.

May 16, 2014
May 16, 2014

Bwin seeks fresh faces for board after investor pressure

LONDON, May 16 (Reuters) – Bwin.Party said it plans
to hire three new directors to reshape its board after an
American activist investor demanded changes in how the online
gambling company is run.

The investor, Jason Ader, says Bwin.Party has been badly
managed since it was formed by a merger in 2010. His SpringOwl
vehicle had put forward four board nominees at the company’s
annual shareholder meeting next Thursday.

May 15, 2014

European absence to cost Manchester United $50 million

LONDON (Reuters) – Missing out on European soccer over the coming year will cost Manchester United more than 30 million pounds ($50 million), the club said on Thursday, while reassuring fans it still had the money to rejuvenate its squad after a poor showing last season.

There was no word from the club, owned by the American Glazer family, on the hotly discussed identity of a new manager after the departure of David Moyes last month following a failed first season in charge.

May 15, 2014
May 15, 2014

Manchester United to pay $50 million price for European absence

LONDON (Reuters) – Failure to qualify for European soccer next season will cost Manchester United more than 30 million pounds ($50 million), the club said on Thursday, though it still had the financial muscle to boost its squad.

There was no word from the club, owned by the American Glazer family, on the identity of a new manager after the departure of David Moyes last month following a failed first season in charge.

May 15, 2014

Man United to pay $50 million price for European absence

LONDON, May 15 (Reuters) – Failure to qualify for European soccer next season will cost Manchester United more than 30 million pounds ($50 million), the club said on Thursday, though it still had the financial muscle to boost its squad.

There was no word from the club, owned by the American Glazer family, on the identity of a new manager after the departure of David Moyes last month following a failed first season in charge.

May 15, 2014
May 15, 2014
    • About Keith

      "Editor in charge of company news desk for Reuters in London. Previously Sports Business Correspondent and that remains an interest. Former roles include UK Chief Correspondent, and I have also worked in Italy, Ireland and the Netherlands for Reuters."
      Joined Reuters:
      September 1988
      Languages:
      English, French, Italian, German and Dutch
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