News & Views

Some significant sport sector business stories in June 2025

To keep you up to date with activity in the sport sector, here is a brief round-up of some of the sector's more significant business stories in June 2025.

1.    US consortium buys a majority stake in Rangers 

Rangers have been taken over by a consortium of investors led by Andrew Cavenagh, together with the investment arm of the San Francisco 49ers. The deal includes an immediate £20m investment in the form of a new share issue, which is subject to shareholder approval. As a result of the takeover the club is set to move from being a public limited company to private.

The Scottish Football Association (SFA) approved the deal after the club sought consent over dual ownership issues. 

Our Comment: 49ers Enterprises currently own a majority stake in Leeds United; this deal is a further example of an increasing trend of multi-club ownership in the football industry, and of US investment interest in British Football, with Gareth Bale’s takeover of Plymouth Argyle in conjunction with a US-based private equity group also mooted. 

2.    Gary Lineker and his podcast, The Rest is Football, partners with DAZN

Fresh from Gary Lineker’s exit from Match of the Day, and Goalhanger’s podcast distribution deal for ‘The Rest is Football’ coming to an end they have partnered with broadcaster DAZN for the upcoming Club World Cup.

The agreement will see the pair collaborate across various platforms, including the use of licenced match footage in the show for the first time. In addition to these exclusive highlights, there will also be tournament previews, bespoke content takeovers, social cutdowns, newsletter features, and live coverage from presenters Gary Lineker, Alan Shearer and Micah Richards. 

Our comment: Free to Air (FTA) TV deals and innovative partnerships like this one with Goalhanger will do much to promote DAZN’s platform across traditional and digital channels, especially in markets where the company does not have much of a local presence. This includes the UK, where DAZN is headquartered but is predominantly known as a combat sports platform. As the way fans experience football evolves, partnerships like this reflect the changing sports media landscape.

3.    Premier League opts not to amend asset sale profit and sustainability rules 

Premier League teams have chosen not to change controversial rules that allow the sale of fixed assets to companies related to a club’s ownership. A lack of support among clubs led to a no vote at the Premier League’s recent AGM, meaning the sale of assets, such as hotels, to related companies can still be included as revenue in a club’s profitability and sustainability calculations, provided these ‘associated party transactions’ are done at fair market value. Another example of this is the sale of Chelsea FC’s women’s team to a related company, which helped the club meet their profitability and sustainability rules. 

Nevertheless, the sale of fixed assets cannot be included in revenue under UEFA’s financial sustainability rules, and Chelsea are understood to be in discussions with European football’s governing body over a potential financial settlement. Further boardroom battles undoubtedly lie ahead. 

Our comment: Premier clubs may face charges for breaching the Premier League’s Profit and Sustainability Rules (the Rules). The Rules impose economic restraints on clubs to prohibit them from sustaining losses over a certain threshold. Careful consideration will need to be given to what is an associated party transaction and what fair market value is set at to prevent breaches of the Rules 

4.    Sport England create ‘green fund’ to create the “greenest sports sector in the world”

Community sports clubs and physical activity groups looking to become more environmentally friendly and sustainable are being encouraged to apply to Sport England’s movement fund. Up to £16 million (GBP) will be reserved for green sport initiatives that help the sector to respond to the impact of climate change, with a maximum of £15,000 being available per organisation. 

Our comment: This announcement also comes hot on the heels of the UK government pledging to spend over £900m on major sporting events and grassroots facilities across the country as part of a significant investment. Great news! The terms of any funding or grant agreement will need to be carefully considered to ensure funds are spent in a compliant manner. 

5.    Europe beckons for Crystal Palace FC? New York Jets owner buys Crystal Palace stake

Subject to Premier League approval, Crystal Palace have agreed a deal for part-owner John Textor to sell his stake in the club (belonging to Eagle Football Holdings) to New York Jets owner, Woody Johnson. 

The trigger for the sale is undoubtedly the uncertainty over Crystal Palace’s involvement in next season’s Europa League, as UEFA are currently investigating whether Crystal Palace would breach its rules regarding teams under one multi-club ownership structure competing in the same European competition. Textor also has a stake in Lyon who, as well as Crystal Palace, have qualified for the Europa League, although question marks remain around their participation due to the club’s relegation into Ligue 2 as a result of their poor financial state. 

Our comment: Regardless of the sale, Palace have consistently argued that Textor has no significant control because of the way his voting rights have been structured. A decision is expected soon, but again this brings to the fore the delicate balance of the gains of multi-club ownership and the battle against regulation. Additionally, how 'control' is defined from a corporate and governance perspective is key.

Further information

These developments represent significant shifts in the sports business ecosystem, each with the potential to create new opportunities and challenges.

Our team can provide in-depth analysis and tailored advice to help you navigate these exciting changes in the sports business landscape.  If you have questions or would like to have an exploratory discussion, please feel free to email Philip Bowers or call 0151 906 1000.