Women's Super League had record revenues in 2023-24 season
MANCHESTER, England, June 9 (Reuters) - Revenues for Women's Super League (WSL) clubs climbed by 34% to hit 65 million pounds ($88.2 million) for the first time during a record-breaking 2023-24 season, according to analysis from the Deloitte Sports Business Group.
Each of the 12 WSL clubs generated over one million pounds in revenue for the first time, with increases in commercial and match-day revenues contributing to significant growth across the league.
Deloitte is forecasting WSL clubs' total revenue will reach 100 million pounds in the 2025-26 season following the Women's European Championship next month in Switzerland.
Revenues climbed from 48 million pounds in the 2022-23 season, an increase driven by growth in commercial revenue, which now accounts for 40% of WSL clubs' total revenue.
The 2023-24 season came after England finished runners-up to Spain in the 2023 Women's World Cup.
"Women's football in England is evolving rapidly," Tim Bridge, lead partner in the Deloitte Sports Business Group, said in a statement.
"While challenges remain, it is clear there is potential for a passionate and engaged fan base to drive the game's development.
"Capitalising on major international tournaments is important at specific points in time, but sustainable growth hinges on the domestic league's organic development."
The increases were driven mainly by four clubs, with Arsenal (15.3 million), Chelsea (11.5), Manchester United (9.2) and Manchester City (6.6) accounting for about two thirds of the money made across the league.
($1 = 0.7368 pounds)
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Reuters
an hour ago
- Reuters
TRADING DAY Good vibrations turn sour
ORLANDO, Florida, June 11 (Reuters) - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist I'm excited to announce that I'm now part of Reuters Open Interest (ROI), an essential new source for data-driven, expert commentary on market and economic trends. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. The US and China have reached a trade deal, or at least agreed on the framework of a deal, which together with surprisingly soft U.S. inflation data, gave markets a lift on Wednesday. But Wall Street's gains were mild, and they were later wiped out by rising tensions in the Middle East. In my column today I look at the 'equity risk premium' and other metrics that suggest relative U.S. equity and bond valuations are getting very stretched. More on that below, but first, a roundup of the main market moves. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. Today's Key Market Moves Good vibrations turn sour It's a "done" deal, according to U.S. President Donald Trump, although the he and Chinese leader Xi Jinping still have to finalize the wording of the trade agreement between the two superpowers and sign off on it. The main points of the deal appear to be: China will remove export restrictions on rare earth minerals and other key industrial components; U.S. tariffs on Chinese goods will total 55%; Chinese tariffs on U.S. goods will total 10%. Trump could not have been more enthusiastic in his praise for the agreement on Wednesday, and Commerce Secretary Howard Lutnick said 'deal after deal' with other countries will follow in the weeks ahead. Yet, judging by the relatively muted market reaction, investors are less enthused. And given the chaotic and unpredictable nature of the Trump administration's tariff announcements thus far, the irony of Treasury Secretary Scott Bessent calling on China to be a "reliable partner" in trade negotiations will not be lost on some observers. Especially, one suspects, in Beijing. Based on these proposed China levies, and with the US expected to conclude more trade deals in the coming weeks, the overall U.S. effective tariff rate will be lower than feared a couple of months ago. That's a relief. But the effective tariff rate of around 15% that many economists expect will still be significantly higher than the 2.5% rate at the end of last year, and would be the highest since the 1930s. Also, as the May inflation figures showed, tariffs have yet to be felt on prices. Investors - and Fed policymakers, who meet next week - are in a state of limbo. How will corporate profits and consumer spending be affected? What proportion of the tariffs will companies "swallow", and how much will they pass on to their customers? Zooming out, inflation appears to be cooling around the world, although this trend is expected to reverse once tariffs start to fuel higher goods price inflation. Figures on Wednesday showed that U.S. consumer inflation and Japanese wholesale inflation were lower than expected in May. These reports follow similar numbers from Europe recently, and China remains stuck in its battle against deflation. Next up is India, which releases consumer inflation figures on Thursday, which are expected to show annual inflation slowed to 3.0% in May, the lowest in more than six years. Another focus for investors on Thursday will be the auction of 30-year U.S. Treasury bonds. US stocks-bonds warnings flash amber again Calm has descended on U.S. markets following the 'Liberation Day' tariff turmoil of early April. But Wall Street's rally has revived questions about U.S. equity valuations, as stocks once again look super pricey compared to bonds. Since the chaotic days of early April, U.S. equities have rebounded fiercely, with the S&P 500 up 25%, putting the Shiller cyclically adjusted price-earnings (CAPE) ratio for the index in the 94th percentile going back to the 1950s, according to bond giant PIMCO. Stocks are looking expensive in absolute terms, and in relation to bonds. The equity risk premium (ERP), the difference between equity yields and bond yields, is near historically low levels. According to analysts at PIMCO, the ERP is now zero. The previous two times it fell to zero or below were in 1987 and 1996–2001. In both instances, the ultra-low ERP precipitated a steep equity drawdown and sharp fall in long-dated bond yields. "The U.S. equity risk premium ... is exceptionally low by historical standards," they wrote in their five-year outlook on Tuesday. "A mean reversion to a higher equity risk premium typically involves a bond rally, an equity sell-off, or both." But reversion to the mean doesn't just happen by magic. A catalyst is needed. Equities have recovered largely because they were oversold in April, trade tensions have been dialed down, and investors remain confident that Big Tech will drive solid AI-led earnings growth. So even though huge economic, trade, and policy risks continue to hang over markets, there is no sign of an imminent catalyst that would cause an equity market selloff. The flip side of equities looking expensive is that bonds look like a bargain. Indeed, the relative divergence between stocks and bonds is such that, by one measure, U.S. fixed income assets are the cheapest relative to equities in over half a century. Using national flow of funds data from the Federal Reserve, retired strategist Jim Paulsen calculates that the total market value of U.S. bonds as a percentage share of the total market value of U.S. equities is the lowest since the early 1970s. "Since the aggregate U.S. portfolio is currently aggressively positioned, investors may have far more capacity and desire to boost bond holdings in the coming years than most appreciate," Paulsen wrote last week. But bonds are 'cheap' for a reason. Washington's profligacy – the reason ratings agency Moody's recently stripped the U.S. of its triple-A credit rating – and inflation worries have kept yields stubbornly high. The term premium - the risk premium investors demand for holding long-term debt rather than rolling over short-dated loans - is the highest in over a decade, reflecting concerns about Uncle Sam's long-term fiscal health. And the diagnosis here shows no signs of improving. Trump's 'Big Beautiful Bill' is expected to add $2.4 trillion to the U.S. debt over the next decade, according to the nonpartisan Congressional Budget Office, likely putting more upward pressure on yields. Of course, equity investors do seem to be pricing in a very rosy scenario, and the past few months have shown how quickly the market landscape can change. The U.S. economy could weaken more than expected, the trade war could escalate, or there could be a geopolitical surprise that causes bond yields and equity prices to fall. Investors should therefore be mindful of the warnings being sent by ERPs and other absolute and relative valuation metrics. However, they should also remember that stretched valuations can get even more stretched. As the famous saying goes, markets can stay irrational longer than investors can remain solvent. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias.
Scottish Sun
2 hours ago
- Scottish Sun
Three killer holes at Oakmont including one that cost Tiger Woods a US Open as Rory McIlroy and Co face savage test
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) WELCOME to the torture chamber hosting the world's top stars for the next four days, as the US Open comes to Oakmont for a record tenth time. Some holes are as notorious as the players are famous, with hot favourite Scottie Scheffler calling it 'probably the hardest golf course that we'll play - maybe ever". 11 English ace Justin Rose gets down to business in practice Credit: Alamy 11 Scottie Scheffler is the favourite after three wins in four tournaments Credit: Alamy 11 Bryson DeChambeau asked for patience as he signed autographs Credit: Reuters 11 It's three and far from easy for players at Oakmont this week Back in 2007 legend Tiger Woods took one look at the notorious Church Pew bunker that splits the third and fourth fairways - a 100 yard long stretch of sand featuring 12 three foot high grass ridges - and decided he wanted nothing to do with it. However, reigning champion Bryson DeChambeau will hope to find big-hitting answers. And world no.2 Rory McIlroy aims to build on his maiden Masters triumph. But here's a look at three of the toughest holes any golfer could face - plus the verdict of players on the ominous Oakmont course. Hole 3 (par 4 - 462 yards) THIS difficult par-four provides the first sight of the massive Church Pews bunker down the left-hand side of the fairway. And if you steer too far wide of it, there is a row of deep bunkers down the right waiting to gobble up balls. Rated as one of the toughest holes on the course — just ask Tiger Woods. He made his only double-bogey here in 2007 and ended up finishing one shot behind eventual winner Angel Cabrera. 11 DeChambeau hailed his US Open glory at Pinehurst last year Credit: AP 11 Tiger Woods famously found trouble at Oakmont in 2007 Credit: Getty BEST ONLINE CASINOS - TOP SITES IN THE UK Hole 4 (par 5 - 611 yards) ONE of only two par-fives and considered a must-birdie hole as it is shorter than the 12th — which can play anything from 632 to 684 yards. Church Pews bunker is in play down the left. Going for the green in two means taking on a long, blind shot. DeChambeau and Rose's response to how club golfers would cope at Oakmont US Open course Hole 8 (par 3 - 289 yards) THIS is where The Beast — as Oakmont is known — really shows its teeth. It usually plays into the wind, so most will have to reach for the driver. Johnny Miller made his only bogey when he shot a course-record 63 on his way to the 1973 US Open here. He said it felt like a par! Scheffler's "hardest ever" verdict on the course is more than matched by the assessment of fellow superstar players. Double UPSGA champ Justin Thomas says 'you can look stupid pretty fast' at the US Open venue, and reckons it will 'psyche a lot of guys out before they hit a shot'. But another double Major winner, Xander Schauffele - regarded as a robot at churning out great US rounds after finishing inside the top 15 in all eight attempts - confessed: 'Maybe I'm just sick to enjoy the challenge." 11 DeChambeau watches his practice putt on the 14th green Credit: Getty 11 Scheffler putts on the same hole on the tournament eve Credit: Shutterstock Editorial But is all the talk about this 7,531 yards par 70 being the toughest course on the planet justified? In the words of Dustin Johnson, who won here in 2016: 'Hell, yeah!' Johnson finished four under par nine years ago, on a course playing much easier than usual, because so much rain fell it was nicknamed 'Soakmont'. But only three other players in the 156 man field finished below par - all on one under - and 14 of the 18 holes played above par. Eight of them featured in the top fifty hardest holes among the 990 used on the PGA Tour that year. That did not compare to what happened at the previous US Open at Oakmont, in 2007. That year all EIGHTEEN holes played over par. Angel Cabrera won at five over, a shot clear of Jim Furyk and Woods, who felt he played great that week. Meanwhile, Woods' Pew peril led to caddie Steve Williams suggesting he should throw a few balls in there so Woods could practice escaping from the trap. Woods shook his head and replied: "No way. I don't practice negativity. I'm just going to avoid it. I'll hit away from it every day." The hole that strikes most terror in competitors' hearts is the 289 yards par three eighth, which is likely to be pushed back beyond 300 yards at least once this week. He did, but still only managed to break par once on his way to runners-up spot. But the hole that strikes most terror into the hearts of the competitors is the fearsome 289 yards par three eighth, which is likely to be pushed back beyond the 300 yards mark at least once this week. World No 4 Collin Morikawa did not realise it was a par three the first time he played it in practice. He explained: 'I completely forgot that that was the long par three, and I honestly asked Joe, my caddie, and everyone in the group, do you go for this par four or do you lay up? 'Now that I know it's a par three, I recommend going for it! I'll probably hit driver or three wood and hopefully hit the green. If not, make up-and-down. 'Honestly. it's a hole I'll take four pars right now, and walk away.' Schauffele reckons some players will have bruised egos about using a driver on a par three, but said they had to 'suck it up' to give themselves the best chance of making par. And he reckons TV viewers will love the carnage they are likely to witness over the next few days. He explained: 'I don't think people turn the TV on this week to watch some of the guys just hit like a 200 yard shot onto the green, you know what I mean? 'I think they turn on the U.S. Open to see a guy shooting eight over, and watch him suffer. That's part of the enjoyment of the U.S. Open for viewers. 'My attitude is that you have to stay as calm as possible because we're all going to struggle at times. Maybe that's why I've done so well in this tournament. 11 Sam Burns is a figure of focus as he practices Credit: Shutterstock Editorial 'I think I look pretty level-headed when I play, but internally I might be absolutely just thrashing myself. That happens to me more than you might think. 'I think truly having a good attitude is accepting what just happened, and allowing yourself to be pretty much at zero to hit the next shot.' Thomas believes most of the field will not be able to handle the setbacks as well as the top players. He said: 'Being perfectly honest, and very selfish, I hope it psyches a lot of players out. This course requires tons of patience and discipline, and not everyone can get a handle on that. 'Above all else, Oakmont tests the mental aspect of your game. But with tight fairways, deep rough, difficult bunkers and lightning fast greens it also tests you to the limit technically too. 'If you just get lazy - like on any drive, any wedge shot, any chip, any putt - you can look stupid pretty fast. 'But I understand this place is hard. I don't need to read articles, or I don't need to hear horror stories. I've played it. I know it's difficult." So sit back and enjoy the ride. It is going to be a bumpy one. 11 Collin Morikawa took a snap of Gary Woodland's club Credit: Reuters
Reuters
6 hours ago
- Reuters
China puts six-month limit on its ease of rare-earth export licenses, WSJ reports
June 11 (Reuters) - China is putting a six-month limit on rare-earth export licenses for U.S. automakers and manufacturers, The Wall Street Journal reported on Wednesday citing people familiar with the matter.
