ESMA warns prediction market contracts may already fall under existing binary options restrictions, stating companies can't avoid financial regulations by marketing them as 'event contracts.' In the US, a legal battle is ongoing between state gaming regulators and the CFTC over whether these contracts are gambling or federally regulated derivatives.
Burnley have been awarded £35m in damages and interest from Everton over a Premier League financial rule breach. The ruling found Everton's overspend caused Burnley's relegation, setting a precedent for sporting loss compensation.
Burnley have won a landmark legal case against Everton, securing nearly £40m in compensation for financial rule breaches. The ruling, the largest financial penalty ever imposed on a Premier League club, stems from Everton's relegation advantage in the 2021-22 season.
Pep Guardiola is leaving Manchester City after 10 years, expressing trust in the club's conduct despite 115 Premier League financial charges. He will become an ambassador for City Football Group after a break from coaching.
Proposed rules similar to those used by Premier LeagueECB responding after Sussex’s operating loss of £1.33mCricket counties will face automatic points deductions for making repeated losses under strict new financial rules that will be introduced next season.The Guardian has learned that the England and Wales Cricket Board is planning to bring in its own version of football’s profit and sustainability rules underpinned by points deductions in a shadow form next year to give counties time to adjust, before fixed punishments for clubs that fail to break even are introduced in 2028. Continue reading...
West Bromwich Albion have been deducted two points by the English Football League for breaching profit and sustainability rules after an independent panel found their losses exceeded the £39m threshold for the three seasons to 2024-25. The club, which denied the allegations, now sits 20th in the Championship table, six points above the relegation zone with two games remaining. Albion need one more point to confirm survival and play Ipswich Town on Saturday before visiting already-relegated Sheffield Wednesday on the final day. The club has two weeks to appeal.
West Bromwich Albion have been deducted two points by the English Football League for breaching profit and sustainability rules after exceeding the £39m loss limit over three seasons to 2024-25. The club denied the allegations but an independent financial review panel found losses exceeded the threshold and recommended the penalty. Albion sit 20th in the Championship, six points above the relegation zone with two games to play, and have two weeks to appeal.
