Market Wrap: European equities close mixed in Tuesday trading
Markets
Market Wrap: European equities close mixed in Tuesday trading
Emma Hanrahan
17:13
The Iseq All Share closed in the red on Tuesday, dropping 0.43 per cent (-48.28bps) since previous close to 11,052.74. Picture: Bloomberg
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The Irish Sun
5 hours ago
- The Irish Sun
The Premier League clubs most at risk of PSR rule breaks as Man Utd's summer transfer spree is explained
THE finance of football is becoming just as important and high-profile as what happens on the pitch these days. Every fan wants to know how much money their club can splash on transfers and whether they are at risk of a dreaded points deduction. 7 Premier League CEO Richard Masters and his team will be taking a keen look at every club's finances Credit: Getty 7 Ruben Amorim and Manchester United look to be safe from PSR breaches Credit: Getty With the end of the 2024/25 accounting period for 15 of the 20 Prem clubs on the horizon, intrigue in clubs' financial situations is growing. The Those figures exclude spending on certain areas of the club such as investments in youth development, women's football and infrastructure, but are the limits for the majority of spending. Breaching those rules can result in hefty points deductions and fines - as evidenced by Everton's two points penalties during the 2023/24 season READ MORE IN FOOTBALL Now The estimates are good news of Manchester United, who many thought would be in dire financial straits after missing out on European football for the first time since 2015. It's estimated that United can lose over £140million, perhaps explaining their decision to splash out on That surprisingly large figure is born out United's PSR position being calculated using the accounts of Red Football Limited (RFL), rather than Most read in Football 7 Man Utd are keen on signing Bryan Mbeumo Credit: Getty 7 Sir Jim Ratcliffe's takeover costs are not included in RFL's accounts Credit: Getty CASINO SPECIAL - BEST CASINO BONUSES FROM £10 DEPOSITS RFL, which is a subsidiary of PLC, posts significantly smaller losses than the PLC company as a whole - partly because it does not include any costs borne by the PLC as part of While it also benefits from the structuring of loans within the Manchester Untied Group as a whole. Bruno Fernandes reveals role his wife played in £200m Al-Hilal transfer snub even though Man Utd were ready to cash in RFL's pre-tax loss across the 2022/23 and 2023/24 seasons was £55.1m, and United's loss limit across the three-year PSR cycle is £105m following Ratcliffe's injections of equity in 2024. United are considered as "safe" from PSR punishment by The Athletic, alongside a whole host of other top clubs. Perhaps shockingly, mega-spenders The intra-group sales of hotels, car parks and Brighton, Man City and Tottenham are all also thought to have in excess of £275m of breathing space. Arsenal, Newcastle United, Leeds, Everton and While Villa, who missed out on Champions League football on the final day of the season, have lost £206.2million pre-tax in the past two seasons, the highest deficit in the Premier League in that time. 7 Chelsea have signed Liam Delap Credit: Getty 7 Unai Emery's Aston Villa are at risk of a breach Credit: Shutterstock Editorial 7
The Irish Sun
5 hours ago
- The Irish Sun
Crystal Palace closer than ever to being kicked out of Europe as Man Utd trick to stay in Europa League fails
CRYSTAL PALACE are facing complete EXPULSION from Europe next season after Uefa rejected a desperate ploy from club shareholders. The Eagles are facing the prospect of not playing in the Europa League, which they qualified for by winning the FA Cup, due to shareholder John Textor owning a stake in French outfit in Lyon . 4 Crystal Palace are facing complete expulsion from Europe next season Credit: ALAMY 4 Oliver Glasner's troops may not play any European footall due to shareholders John Textor and David Blizter owning stakes in clubs in the Europa League and Conference League Credit: GETTY 4 American Textor also owns shares in Ligue 1 side Lyon Credit: AP Lyon are also set to feature in the competition having qualified with a sixth-placed finish in the Ligue 1 last season. Uefa rules prohibit anyone from "simultaneously be involved in any capacity whatsoever in the management, administration, and/or sporting performance of more than one club participating in a Uefa club competition." The prospect of Palace dropping into the Conference League is also nigh-on impossible as other shareholder David Blizter also has a stake in Danish oufit Brondby, who are set to play in European football's tertiary club competition next season. In a desperate bid to see the Eagles fly across Europe next season and comply with Uefa rules, Textor and Blizter offered to put their shares in a blind trust. READ MORE IN FOOTBALL But Uefa chiefs have REJECTED the offer, leaving Palace's proposed European adventure next season in limbo. The proposal was rejected as Palace missed the registration deadline to submit it. Had it been approved, a blind trust would've seen a group of trustees take control of Textor's shares in Palace for the 2025/26 season. English clubs aren't strangers to utilising blind trusts so as not to fall afoul of Uefa rules. Most read in Football JOIN SUN VEGAS: GET £50 BONUS 4 John Textor is willing to sell his Palace shares to ensure they can play in Europe next season Credit: X / OL Manchester City and Nice both qualified for the Champions League and Europa League respectively. Palace held crunch talks with Uefa to try to resolve the potentially devastating issue earlier this week. How Crystal Palace outsmarted Man City in FA Cup final And the meeting on the shores of Lake Geneva ended up in Textor putting his shares in the south London club up for sale. He told "They listened and we'll see what happens. I wouldn't be trying to sell (his stake) if I did." Textor, 59, added: ""We are trying to help separate it and sell. "We wanted to buy but it's become clear that isn't going to happen and so we're trying to help Palace and the situation with UEFA. "That's about all I can say."
RTÉ News
8 hours ago
- RTÉ News
Merz tells Trump he wants 'more pressure' on Russia
German Chancellor Friedrich Merz has urged US President Donald Trump to put more pressure on Russia to bring an end to its three-year-old war against Ukraine. "You know that we gave support to Ukraine and that we are looking for more pressure on Russia," Mr Merz told President Trump at the start of their White House meeting. Mr Trump described Mr Merz as a good representative of Germany and also "difficult," which he suggested was a compliment. He said US troops would remain in Germany and said it was positive that the German government was spending more money on defence. Mr Merz said he was pleased to be there and preparing for a deeper relationship with the United States. The two leaders met in the Oval Office, which has been the site of showdowns between President Trump and visiting dignitaries including Ukrainian President Volodymyr Zelensky and South African President Cyril Ramaphosa. However, President Trump and Mr Merz, both conservatives, appeared to have a warm rapport from the start. Mr Merz started with praise, thanking President Trump for putting him up in the Blair House, a presidential guest dwelling across from the White House, and he thanked him for doing so. However, tensions over trade simmered under the surface of their encounter. The United States and the European Union are in talks to reach a trade deal, which would be critical for Germany's export-heavy economy, but Mr Trump said he would be fine with an agreement or with tariffs. "We'll end up hopefully with a trade deal," he said. "I'm ok with the tariffs or we make a deal with the trade," Mr Trump Mr Merz, who took office last month, told reporters ahead of the meeting that they would discuss Russia's war in Ukraine, US tariffs and NATO in the meeting but said he was not expecting major breakthroughs. Germany is the second-largest military and financial backer of Ukraine in its defence against Russia's invasion, after the United States. Mr Trump has urged NATO countries to spend more on defence, though he suggested there might be some limits on how far Berlin should go given its World War II past. The meeting comes amid a broader fraying of ties between the US and many European countries. Mr Trump's administration has intervened in domestic European politics in a break with past practice, aligning with right-wing political movements and challenging European policies on immigration and free speech. Mr Merz, 69, and his entourage have sought coaching from other leaders on how to deal with President Trump to avoid conflict, according to a source briefed on the matter. The meeting is taking place just weeks before a critical summit of the NATO Western military alliance, which has been strained by Mr Trump's threats that the US will not come to the aid of allies that do not increase their defence spending. Such threats are of particular concern to Germany, which has relied on US nuclear deterrence for its security since the end of World War II. Mr Merz has already made some bold policy moves that he can highlight to appease Mr Trump, analysts said. He has backed President Trump's demand for NATO members to commit to a target of more than doubling defence spending to 5% of economic output in the future, earning praise last weekend from US Defence Secretary Pete Hegseth. Mr Merz, who has promised a more assertive foreign policy, also coordinated a visit by European leaders to Kyiv just days after taking office, two European diplomat sources said. "This shows that Germany is willing to accept a greater responsibility for Ukraine and the European security order – these are all things that have been wished for in the United States over years and will be welcomed," said Sudha David-Wilp of the German Marshall Fund of the United States. Mr Merz and Mr Trump could find some common ground given they share business backgrounds, membership in right-of-centre political parties, a focus on fighting illegal immigration and a fondness for golf, said Steven Sokol, President and CEO of the American Council on Germany. However, analysts noted frictions in the US-German relationship. Mr Merz was publicly critical of President Trump shortly before the 2024 presidential election.
