Serie B left in limbo as Brescia financial investigation hands Sampdoria, Frosinone possible relegation reprieves
The conclusion of the Serie B season has been thrown into chaos due to an investigation into financial irregularities at Brescia by the Italian football watchdog.
On Sunday, five days after the conclusion of the regulation season, Covisoc — Italian football's supervisory body — informed the league of the investigation into Brescia, who could be levied with a four-point deduction if they are found to have breached the rules.
Advertisement
That potential deduction, subject to an appeal which the club have pre-emptively confirmed, would relegate Brescia, hand a play-off reprieve to previously-relegated Sampdoria and confirm Frosinone's safety above the play-off spot.
The league's scheduled relegation play-off between Frosinone and Salernitana has been postponed amid the uncertainty and no teams or dates will be confirmed until a final legal decision is reached.
Around 700 Brescia fans protested on Monday against club chairman and former Leeds United owner Massimo Cellino, the FIGC (Italian Football Federation) and Serie B, leading to security being stepped up at the club's training ground and headquarters as well as at Cellino's house, per La Gazzetta dello Sport.
'Following the disturbing news reports that emerged today and the conclusion of the investigation conducted by the FIGC into alleged irregularities in payments,' a Brescia statement on Sunday read.
'Brescia announces that it will appeal to any sporting and non-sporting body to protect its position, believing that it has correctly complied with the federal deadlines.'
Brescia, who most recently played in Serie A in 2019-20, are subject to the potential points deduction over an irregularity in their payment of salaries and tax contributions in February.
Three teams are automatically relegated from Italy's second division, with the 16th- and 17th-place sides contesting a play-off to avoid the final relegation spot to Serie C.
The regulation season, which ended on Tuesday, had seen Cosenza (30 points), Cittadella (39) and Sampdoria (41), the 1992 European Cup finalists, all automatically relegated, with Salernitana (42) going into the relegation play-off against Frosinone (43).
However, a potential points deduction for Brescia — who finished on the same points tally as Frosinone but above them in the standings courtesy of a superior goal difference — would put the club onto 39 points, meaning Sampdoria move into the play-off zone while Frosinone would be safe.
Advertisement
Salernitana had been due to host Frosinone in the first leg of the play-off on Monday, May 19, with the return leg the following week but both matches have now been postponed amidst the uncertainty.
Sampdoria have never previously played outside the top two divisions of Italian football, with the Genoa-based club's glory days coming in the early 1990s.
Sampdoria reached successive Cup Winners' Cup finals in 1989 and 1990, the latter of which they won, while they were crowned Italian champions in 1991 and were defeated by Barcelona in the European Cup final at Wembley the following year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
37 minutes ago
- New York Times
Can Matheus Cunha and Liam Delap signings boost Chelsea, Manchester United's top four odds?
For more stories like this, click here to follow The Athletic's sports betting section and have them added to your feed. Legendary American basketball coach John Wooden once said, 'Never mistake activity for achievement.' Wooden spent his time coaching players who dribbled with their hands instead of their feet in the 1970s. That means it's unlikely his famous quote was directed at the transfer strategies of Manchester United and Chelsea. Advertisement In acquiring Matheus Cunha and Liam Delap, each club appears to be doing something. Whether early transfer window activity indicates edging closer to securing silverware or a place in the top four next year is another story. At the very least, it represents hope around the Blues' 2/1 and their Manchester counterparts' 5/1 top four odds. Delap and Cunha also share another similarity; their numbers don't tell the whole story of their value to each club. Let's dive deeper into the metrics. Let's not beat around the bush: Ipswich Town were objectively bad this past season. The Tractor Boys' minus-1.01 expected goal (xG) differential per 90 minutes ranked 17th in the league — nearly triple the difference of Wolves in 16th. When attackers like Delap play substantial minutes for a side this dreadful, it raises questions whether their statistics accurately reflect their abilities. At 22 years old, Delap is just about to enter his prime. Considering that context, however, his underlying numbers are, well, not great: Chelsea's incumbent striker, Nicolas Jackson, has his weaknesses, particularly around his finishing, but there's no denying his surface numbers supercede Delap. Jackson's 0.50 non-penalty xG per 90 mark is nearly double Delap's 0.27. While some forwards could make up for that gap with their contributions to build-up play or chance-creation in the final third, the former Tractor Boy doesn't do either of those things. The only thing Delap does better than Jackson is dribble past opposing defenders. For Delap's inclusion to make a significant shift in Chelsea's prospects, his underwhelming numbers have to be a by-product of Ipswich's shortcomings. The Tractor Boys only averaged 40 per cent possession during the 2024-25 season. Kieran McKenna's side also were last in touches and passes into the penalty area. Projecting what this signing means for the South Londoners means trying to determine whether Delap's numbers were underwhelming due to his own poor performance or because his team simply never had possession of the ball. Advertisement Even if the answer lies somewhere in the middle, it's hard to project Delap as the type of player that adds a ton of value to Chelsea's 22/1 title odds. The Blues' top four odds might be a different story. If Delap can prove to be an effective rotation player, then the 2/1 odds for the team to qualify for the Champions League next season seem like the better bet. Delap's numbers call into question his actual level of impact, but it's quite clear the kind of player Cunha is. The 26-year-old is a good, not great, winger whose market value rose thanks to a season buoyed by a fiery finishing streak. The Brazilian scored 15 goals off just 8.6 xG — a conversion rate that even Lionel Messi would be envious of. If the predictive strength of xG has taught us anything, it's that Cunha is headed toward a serious regression next season. Thankfully for United, he does bring a decent dose of playmaking. Cunha ranks in the 80th percentile of all attacking midfielders in expected assists and led Wolves in shot-creating actions last season. Yet even with that all-around production, there's no denying that his signing is simply a signing for the sake of change given the presence of Marcus Rashford and Alejandro Garnacho. Rashford almost exactly matches Cunha's production, while the 20-year-old Garnacho offers far more promise. Despite being six years his junior, the young Argentine matched Cunha's non-penalty xG of 0.30 this past season. The problem for United is that Garnacho and Rashford have had a series of run-ins with recent managers. Erik ten Hag and Ruben Amorim sought to find alternatives, and now the latter seems poised to push both players out of the club. At 8/15 odds to head to Barcelona, Rashford seems destined to leave Old Trafford. Garnacho's most likely destination is also outside of Manchester as Napoli (6/4) are currently the club favoured to secure his services. Advertisement As great as data is, it can't really measure the impact of someone like Cunha slotting into a starting XI match after match without high-profile spats with his manager. Professionalism and locker room cohesion may not matter as much as actually putting the ball in the back of the net, but those intangibles do matter. That said, United finished 12th in non-penalty xG differential last season. This was not an unlucky side needing some stability, it is a side in need of players who move the needle (Bruno Fernandes staying should also help). Cunha is a solid player and perhaps a better fit with Amorim, but those intangible factors aren't enough to make United's 5/1 top four odds any more enticing than they already are. Betting/Odds links in this article are provided by partners of The Athletic. Restrictions may apply. The Athletic maintains full editorial independence. Partners have no control over or input into the reporting or editing process and do not review stories before publication. (Photo of Matheus Cunha: David Rogers / Getty Images)
CNET
39 minutes ago
- CNET
Klarna Launches New BNLP Debit Card That Lets You Finance on the Fly -- but There's a Catch
CNET/Getty Images Klarna, a financial service best known for its buy now, pay later (BNLP) app, just announced it's launching a new debit card with BNPL features. "We consistently hear from consumers that they want the freedom to choose how and when to pay -- whether that's paying now with debit or spreading the cost over time," David Sandstrom, chief marketing officer at Klarna, said in the press release. This isn't the BNPL service's first foray into the cards territory. Klarna launched the Klarna Credit Card, a no-annual-fee card that works more like a charge card in 2022 and issued a US version in 2024. With its new debit card offering, users will be able to load funds onto the card and use it like a debit card, or access a Buy Now, Pay Later plan. BNPL plans are typically popular as an alternative to credit cards, but the Klarna Card seems to be combining debit, credit and payment plans into a single card. The company said in the press release that it's currently testing the product in the US with plans for a wider rollout in the US and Europe later this year. Here's what we know about it so far. How the Klarna debit card works The new product will offer a mix features similar to that of both a credit card and a debit card. You can load funds onto the Klarna Card and use it like you would a standard debit card, but you're able to select if you want to finance a purchase at the point of sale by using either Klarna's Pay in 4 or Pay Later plan. Klarna told CNET that there will be a $1 to $3 charge for using Pay in 4 which will be added to your down payment. If you're going to use BNPL, I'd recommend not opting for the Pay in 4 option with the Klarna card, since others like Afterpay, Affirm and even Klarna itself don't charge you money to initiate a BNPL installment plan that's paid off in four payments. Anyone can be approved for the Klarna Card and use it as a debit card without any credit check required. However, if you want to finance a purchase with a BNPL plan, you'll undergo a soft credit check at the time of purchase. That may cause a slowdown at the register, but we'll see. Klarna also confirmed your activity won't be reported to credit bureaus at this time. The Klarna Card will also work on Visa's Flexible Credential program, which allows you to save multiple forms of payment behind one credential, locked with your biometric. It acts like a payment hub with all of your eligible payment methods. Are Klarna's cash back rewards worth it? Once the card is fully released, it will offer a free tier and two paid tiers, according to the press release. The paid tiers -- Member and Plus -- will cost $3.49 and $7.99 monthly respectively, and will include merchant discounts and cash-back rewards. Member 2.82% APY on Klarna balance. 1% cash back when you pay in full with your Klarna balance. 2x rewards on Pay-in-4 at non-integrated partners. Plus 3.22% APY on Klarna balance. 2% cash back when you pay in full with your Klarna balance. 10x rewards on Pay-in-4 at non-integrated partners. If you're after cash-back rewards, you don't have to pay for them. Many credit cards offer cash-back rewards for free -- as long as you pay your bill in full each month -- and some debit cards like the Discover Cashback Debit card also come with rewards for no monthly fee. However, depending on the cash-back rate, the tier's fees might wipe out any value you'd get from them. It's nice that Klarna lets you earn a fairly competitive APY on your balance -- the 3.22% APY the Plus tier offers is similar to many top high-yield savings accounts right now -- but having to pay $7.99 a month for this APY is a steep price. For reference, if you deposited $250 a month into your Klarna account and didn't spend it, you'd have $3,000 at the end of the year. You'd earn approximately $44 in interest (depending on how often it's compounded), but you'd have paid nearly $96 a year for this card. How to sign up for the Klarna debit card The company is currently trialing the Klarna debit card in the US. Once it's fully available, Klarna confirmed that you'll be able to sign up to use it immediately and won't be added to a wait list.
Forbes
41 minutes ago
- Forbes
Circle Going Public On June 4: What Is The Future Of CRCL?
Representation of cryptocurrency and Circle logo displayed on a screen in the background are seen in ... More this illustration photo taken in Krakow, Poland on June 10, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images) One of the most anticipated events in crypto business this year is set for Wednesday. Circle, the company behind USDC—the world's second-largest stablecoin—is going public on the New York Stock Exchange. It will offer 32 million Class A shares at a range of $27-28 under the ticker CRCL, aiming for a $7.2 billion valuation. Circle may seem like an easy bet: issue stablecoins, invest the reserves in Treasuries, and earn risk-free yield while users essentially lend their dollars interest-free. But behind this seemingly simple model lies a more complex and vulnerable business. The future of interest rates remains uncertain, margins are split, and partnerships are costly. In a winner-takes-most market, Circle must outpace the impact of potentially falling rates by capturing a larger share of the stablecoin market—or simply by growing with it. Additionally, the firm's long-term success may also depend on its ability to diversify and build synergy across its products. Stablecoins have quietly become the backbone of crypto markets—and are increasingly relevant for traditional finance. In 2024, stablecoin transaction volume reached $27.6 trillion, overtaking the combined volume of Visa and Mastercard by almost 8%. The total stablecoin market cap now stands at $248 billion. Circle's USDC holds a 25% share—second only to Tether's USDT at 61%—and accounts for $60 billion of the total. Circle's EURC leads among euro-backed stablecoins with a $224 million market cap. USD-pegged stablecoin supply. Source: DefiLlama Where Circle stands out is in regulatory compliance. In the U.S., USDC has positioned itself as a compliant bridge between the crypto ecosystem and traditional finance. In the EU, the implementation of MiCA—and the resulting delisting of non-compliant stablecoins like USDT from major regulated exchanges—has paved the way for USDC to become the region's leading stablecoin. Citi's recent report estimates that the stablecoin market could reach a size of $1.6 trillion by 2030 in its base case. Circle, with its compliance-first approach, is well positioned to benefit. Circle's main revenue stream — 99% of it — comes from investing stablecoin reserves, primarily in short-term U.S. Treasuries. In 2024, this model proved highly lucrative, generating roughly $1.6 billion in interest income. However, that reliance also exposes a risk of over-dependence on interest rates. As Todd H. Baker, a senior fellow at Columbia University, wrote in the Financial Times, Another concern is distribution cost. Of Circle's $1.6 billion revenue, over $1 billion went to 'distribution, transaction, and other costs,' according to the company's S-1 filing. The bulk of that went to Coinbase—Circle's former USDC co-manager and now a key partner. Circle consolidated statements of operations, Circle S-1 filing. Source: SEC After dissolving the Centre Consortium in 2023, Circle took full control of USDC in exchange for a new revenue-sharing agreement. Under this deal, Coinbase receives 50% of the residual yield from USDC reserves and 100% of the interest generated by USDC balances held on its platform. In return, Coinbase pledged to 'support USDC' and 'help drive long-term success of the stablecoin ecosystem.' As per Coinbase's 2024 report, the agreement runs for an initial term of three years. After that, Coinbase and Circle will 'discuss in good faith whether any modifications to the Circle Agreement are warranted.' If no new terms are agreed upon, the deal automatically renews for another three years—unless either side fails to meet its obligations. With most of its revenue linked to interest rates and a significant share going to Coinbase, Circle's long-term prospects could increasingly depend on its ability to diversify. And the diversification effort seems to be underway. Beyond USDC and EURC stablecoins, Circle offers: While revenues from CPN and USYC weren't included in the S-1 (both too recent), they could effectively diversify Circle's revenue streams. The CPN in particular could evolve into a blockchain-native alternative to SWIFT—one that's programmable, compliance-aware, and built for 24/7 financial infrastructure. It's a compelling bet in a payments market estimated at around $2 trillion annually, as per BCG. USYC, meanwhile, enters the booming market of yield-bearing stablecoins and tokenized treasuries. Assets in such products surged 490% in 2024—from $1.4 billion to $8.25 billion—and now approach $10 billion, according to Stablewatch. In the segment led by BlackRock-backed Ethena's sUSDe and Sky's (formerly MakerDAO) sUSDS and sDAI, USYC is still a minor player, holding 4% of the market. Yield-bearing stablecoins (market cap over $40M). Source: Stablewatch Investors appear to think so. According to Bloomberg, Circle's IPO was already significantly oversubscribed by May 28. Today, the company responded by increasing its valuation target from previously announced $5.65 billion to $7.2 billion. The investors might be onto something. Stablecoins are becoming the de facto digital dollars—especially in a U.S. environment increasingly hostile to CBDCs. Their addressable market spans global remittances, institutional payments, and DeFi integrations. The infrastructure and regulatory positioning that Circle has built could give it a head start, even as traditional giants like JPMorgan, Wells Fargo, and Citi intend to conceive their own stablecoin. As Benjamin Billarant, founder of Balthazar Capital—an asset management firm with strong exposure to crypto-related equities—commented, Indeed, the bipartisan GENIUS Act—America's most comprehensive stablecoin bill yet—passed the Senate on May 21 and now heads to the House. Following the vote, President Trump's Crypto Czar David Sacks said that the GENIUS Act will "pass with significant bipartisan support." The timing couldn't be better for Circle's IPO indeed. All in all, Circle isn't just a bet on interest rates—it's a bet on the future of regulated crypto finance. With stablecoin adoption growing and a compliance-first model, Circle could become a key pillar of tomorrow's payment system. For $CRCL holders, the challenge will be navigating the gradual shift from "easy" rate-driven gains to a more demanding reliance on product-driven revenue. Whether Circle can evolve in time is the question the IPO asks—and the market will soon answer.
