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Golden Knights' success lifts Las Vegas to another level in sports world
Golden Knights' success lifts Las Vegas to another level in sports world
The modern era for Las Vegas sports began when the NHL awarded the city an expansion franchise in 2016
2023-06-15 07:49
Braves beat Tigers 10-7 and 6-5 to sweep DH and win series
Braves beat Tigers 10-7 and 6-5 to sweep DH and win series
Eddie Rosario hit a tiebreaking homer in the sixth inning and the Atlanta Braves held on to beat the Detroit Tigers 6-5 Wednesday night and sweep a doubleheader
2023-06-15 07:46
Championship clubs’ wage bill exceeds revenue for fifth year running – report
Championship clubs’ wage bill exceeds revenue for fifth year running – report
Championship clubs’ spending on wages exceeded revenue for a fifth successive season in 2021-22, according to a new report. Deloitte’s Annual Review of Football Finance found second-tier teams’ combined wages-to-revenue ratio was an astonishing 108 per cent, as clubs continued to chase the dream of reaching the Premier League. Nottingham Forest, who ultimately succeeded in reaching the top flight at the end of the 2021-22 season via the play-offs, spent almost 200 per cent more on wages than they earned in revenue – £58.6million compared to £29.3m – in their promotion year, according to figures in the Deloitte report. Championship clubs’ total revenue was up 13 per cent in 2021-22 compared to the season before, reaching £676million. However, while wage costs fell for a second consecutive year, they remained higher than revenue for the fifth season in a row. Tim Bridge, lead partner in Deloitte’s Sports Business Group, said: “The glamour of Premier League promotion is spearheading the continual drive for investment in Championship clubs, often in an unsustainable manner, driving some clubs to overstretch financially. “It is critical that long-term decisions are now made by clubs’ owners and, with the introduction of the independent regulator, focus will turn to improving the distribution mechanism of revenues between the leagues and clubs. “This must be accompanied by appropriate governance and financial controls to ensure that any proposed solution is suitable and sustainable.” EFL chairman Rick Parry believes the disparity in revenue between the Premier League and the Championship has created a “cliff edge” between the leagues, and argues parachute payments are also fuelling inequality within the Championship. Deloitte’s report underlines the value to clubs of reaching the Premier League. Relative to the 2022-23 season, it says revenue from broadcasters is expected to provide a minimum uplift of more than £90m for Luton, approximately £84m for Sheffield United and £54m for Burnley, with both of those two clubs in receipt of parachute payments whilst participating in the Championship. The report said that should a club suffer immediate relegation, assuming they are not in receipt of parachute payments at that point, under existing arrangements the parachute payments from the Premier League will continue to provide an uplift over the following two seasons of at least £80m. For a Championship club not otherwise in receipt of parachute payments, the value of promotion will be at least £170m across the next three seasons and, if a club survives their first season in the Premier League, they will be entitled to three seasons of parachute payments and the incremental revenue will be over £290m across five years. Discussions over a new financial settlement between the two leagues are ongoing. The Government said in its White Paper on football governance that a new regulator will be given backstop powers to impose a settlement if one cannot be agreed, but it is unlikely the regulator will be up and running until 2024-25 at the earliest. Parry accepts that reform of the distribution package has to go hand in hand with cost control measures, which are also part of the ongoing ‘New Deal For Football’ talks between the EFL, the Premier League and the Football Association. What we really want to see in the English game is a variety and diversity of clubs coming through the league at different points in time Tim Bridge, lead partner in Deloitte’s Sports Business Group Bridge believes it is vital for the leagues to see the common ground they share to resolve the dispute on distribution. “The point I would make is that the longevity of the Premier League and the ability for clubs to move up and down between the Premier League and the Championship and to achieve variety in those clubs is a good thing for the overall brand and the marketing position of English football,” he said. “Part of the beauty of the Premier League is always that any team can beat any other team. And so at any one point in time, what we really want to see in the English game is a variety and diversity of clubs coming through the league at different points in time, bringing new storylines, bringing new faces to the league because frankly that keeps it fresh.” Wage spending in the Premier League in 2021-22 grew by £192m compared to the previous season, but this was outpaced by a £586m increase in revenue, meaning the top flight’s wages-to-revenue ratio fell for the second consecutive season from 71 per cent to 67 per cent. That is still a significantly higher ratio than the average of the three seasons pre-pandemic up to 2018-19 – 58 per cent. Across Europe’s ‘Big Five’ leagues as a whole however, revenue growth was outpaced by wages, which stood at 12.3 billion euros (£10.5bn). This comes at a time when the continent’s football governing body UEFA has introduced new financial sustainability regulations, including a cost control rule which by 2025-26 will limit a club’s spending on wages, transfer fees and other player and coach costs at 70 per cent of turnover. UEFA could go even further in the future, with president Aleksander Ceferin raising the possibility of a Europe-wide salary cap in an interview in April.
2023-06-15 07:29
UConn star Paige Bueckers working her way back from knee injury
UConn star Paige Bueckers working her way back from knee injury
UConn star Paige Bueckers is back on the court 10 months after suffering the second major knee injury of her college career
2023-06-15 07:28
US Open barranca offers beauty, danger at LA Country Club
US Open barranca offers beauty, danger at LA Country Club
The word of the week at the U.S. Open is barranca
2023-06-15 06:59
Chaos rules the day as US Open comes to the glitz of Los Angeles
Chaos rules the day as US Open comes to the glitz of Los Angeles
Brooks Koepka says he enjoys chaos
2023-06-15 06:59
Vance Joseph says he has no qualms about returning to Denver as Sean Payton's DC
Vance Joseph says he has no qualms about returning to Denver as Sean Payton's DC
Vance Joseph says he had no qualms about returning to Denver as an assistant coach just five years after he was fired as head coach of the Broncos
2023-06-15 06:57
Golden Knights' success lifted Las Vegas to another level in sports world
Golden Knights' success lifted Las Vegas to another level in sports world
The modern era for Las Vegas sports begins when the NHL awarded the city an expansion franchise in 2016
2023-06-15 06:55
Titans QB thinks 3-time All-Pro DeAndre Hopkins would be good fit
Titans QB thinks 3-time All-Pro DeAndre Hopkins would be good fit
Tennessee quarterback Ryan Tannehill met DeAndre Hopkins for the first time during the three-time All-Pro’s free agent visit with the Titans
2023-06-15 06:48
Chaos rules the day as US Open comes to the glitz of LA
Chaos rules the day as US Open comes to the glitz of LA
Brooks Koepka says he enjoys chaos
2023-06-15 06:19
Scottie Scheffler arrives at US Open looking to solve putting problems
Scottie Scheffler arrives at US Open looking to solve putting problems
Scottie Scheffler comes into the U.S. Open ranked first in the world but 148th in putting
2023-06-15 06:18
Callum Wilson tuned up to secure England recall after Newcastle disappointment
Callum Wilson tuned up to secure England recall after Newcastle disappointment
Callum Wilson revealed being dropped by both Newcastle and England fuelled his determination to fight back. The striker’s post-World Cup slump saw him confined to the bench at Newcastle as he scored just once in 13 appearances. It also saw him left out of the opening Euro 2024 qualifying wins over Ukraine and Italy in March. However, Wilson is back to face Malta on Friday before Monday’s visit of North Macedonia to Old Trafford after scoring 11 goals across his final 12 games for Newcastle to fire them to fourth place in the Premier League. He said: “I was finding myself on the bench and was used to playing week in, week out. All of a sudden, I was watching from the sidelines and coming on for 10 minutes at the end of the game. “I didn’t like that. You want to play. You work hard all week and then on a matchday it is where you want to perform and score goals. I wasn’t getting to do that and knew I had to make sure I was working even harder to get back into the team. “It was a weird one, playing a World Cup in the winter. Club and country is totally different as well. At the club you are playing regularly: week in, week out. “Here, it is a bit more difficult to get game time and you have to bide your time, be professional and make sure you are doing everything you can on the training field. “So to then go back into club football was exciting, really, as I had been away from it for so long and I was thinking I am going to start playing again a little bit more, especially as I was feeling so sharp as I was at the World Cup. “I tried to use it in a positive way but yes, mentally, you do have to reset because you go on a drought of scoring goals. “We went to Dubai for a mid-season training camp and we had five days there when we didn’t play football. “We got to sit back and think, ‘yes it has been a fantastic start to the season but it has turned into a bad season’ when I was out of the team so I had to basically pull my finger out and start scoring goals again.” The Magpies’ return to the Champions League after 20 years capped a successful season but it only sunk in for Wilson after he went to Sam Fender’s gig at St James’ Park on Sunday. He said: “I went to the concert with my wife at St James’ Park. There was a sea of black and white and, before he came out, he actually played the Champions League song and everyone was cheering and I was like, ‘this is absolutely real’. “I could see how much it meant to everybody in the stadium at that time. Hearing the anthem in the stadium, without actually walking out to play, was surreal. This is going to happen next season and I cannot wait to get started.” Along with his love of music, Wilson is also a keen art collector as he looks to build his portfolio. “I’m trying to add slowly at the right time. Banksy, Daimen Hirst, Tracey Emin, a few little pieces. Mr Doodle, I’ve got that one piece,” said the 31-year-old. “Art is art, isn’t it? It’s down to everyone’s personal preference. Me personally, I took a shine to it, in terms of investment side of things and then you actually start to get into it, ‘I’ll put that on the wall’. “I want to get something that’s got a bit of value and means something and try and find the right pieces at the right time.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Marcus Rashford couldn’t stomach Man City celebrations but England remain united Croatia reach Nations League final with extra-time win over Netherlands He was the main guy – Jordan James knew Jude Bellingham would reach the top
2023-06-15 05:57
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