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On the day before Thanksgiving, the Bush administration releases proposed rule changes that would lead to increased logging of federal forests for commercial or recreational activities by giving local forest managers the authority to open up the forests to development without requiring environmental impact assessments and without specific standards to maintain local fish and wildlife populations. Administration officials claim the changes are needed because existing rules—approved by the Clinton administration two months before Bush took office—are unclear, in addition to being costly and difficult to implement. Critics charge the changes are aimed at pleasing the timber industry at the expense of forest ecosystems. The proposed changes would affect roughly 192 million acres of US forests and grasslands. [Seattle Post-Intelligencer, 11/27/2002; CBS News, 11/27/2002] The proposal closely follows the timber industry’s wish list—a “coincidence” according to the Forest Service. [Native Forest Network, 11/27/2002 pdf file]

Entity Tags: US Forest Service, Bush administration (43)

Timeline Tags: US Environmental Record

Interior Secretary Gale A. Norton, Agriculture Secretary Ann M. Veneman, and Council on Environmental Quality (CEQ) Chairman James L. Connaughton meet with President Bush to discuss the implementation of the administration’s “Healthy Forest Initiative.” After the meeting, they announce proposed changes that would expedite the approval of “fuels treatment” projects (forest thinning) by weakening the review process and restricting public input. [US Department of Interior, 12/11/2002; Associated Press, 12/11/2002] Critics say the changes would make it easier for the timber industry to cut the larger, more fire resistant trees, making the forests more vulnerable to wildfires. They also charge that the proposed rules would allow logging interests to override local concerns. [Natural Resources Defense Council, 12/11/2002] Mike Francis, a forest specialist with the Wilderness Society, commenting on the proposed rule changes, tells the Associated Press, “Those are nothing more than administration’s typical desires to cut the public out of forest decisions. This administration doesn’t like what the public wants to do with their forests.” [Associated Press, 12/11/2002]

Entity Tags: James L. Connaughton, George W. Bush, Gale A. Norton, Ann M. Veneman, Bush administration (43)

Timeline Tags: US Environmental Record

President Bush delivers his State of the Union address and describes his rollbacks as environmental protections. He talks about his “Healthy Forest Initiative” (see May 21, 2003) and the issues of energy independence and air pollution, stressing his administration’s disfavor with “command-and-control regulations.” Bush does not mention the issue of clean water. [Natural Resources Defense Council, 1/28/2003; US President, 2/3/2003]

Entity Tags: George W. Bush

Timeline Tags: US Environmental Record

The Department of Interior informs Congress that it has decided to settle a lawsuit filed years ago by the state of Utah over the Bureau of Land Management’s policy of rejecting drilling and mining projects in areas under review for wilderness protection. The decision withdraws protected status for 3 million acres of land in Utah. Without designation as a Wilderness Area, portions of the Red Rock Canyons in southern Utah could be open to logging, oil and gas drilling, mineral extraction, road-building and other development. A federal appeals court had previously ruled against the state on all but one count and consequently the lawsuit’s status had been moribund since 1998. [USA Today, 4/11/2003] But in March, Utah made an amendment to its complaint, thus reopening the case and providing the Bush administration with an opportunity to make a “settlement.” Environmental groups say the settlement is the outcome of a deal made between Interior Secretary Gale Norton and Utah Governor Mike Leavitt behind closed-doors. [USA Today, 4/11/2003; Salt Lake Tribune, 4/20/2003; Salt Lake Tribune, 5/6/2003; Salt Lake Tribune, 6/18/2003; Wilderness Society, 4/28/2004] In addition to the settlement, the Bush administration stops congressional reviews of Western lands for wilderness protection, capping wilderness designation at 22.8 million acres nationwide. [USA Today, 4/11/2003]

Entity Tags: US Congress, US Department of Interior, Mike Leavitt, Bush administration (43), Gale A. Norton

Timeline Tags: US Environmental Record

The House of Representatives passes the Healthy Forests Restoration Act of 2003 by a vote of 256 to 170 as part of the Bush administration’s “Healthy Forests Initiative.” (see November 27, 2002) (see December 11, 2002). [US Department of the Interior, 5/30/2003] The legislation, introduced by Rep. Scott McInnis, relaxes requirements for the removal of small underbrush and trees on 20 million acres of forestland vulnerable to wildfires. The bill, dubbed the “‘Healthy Stealthy’ Act” by critics, removes important environmental safeguards and reduces public participation and judicial review, [Reuters, 5/22/2003] facilitating the timber industry’s access to 192 million acres. The measure also increases the industry’s subsidies by $125 million. [Alternet, 5/19/2003]

Entity Tags: Scott McInnis, Bush administration (43)

Timeline Tags: US Environmental Record

President George Bush names Utah Governor Mike Leavitt as administrator of the Environmental Protection Agency (EPA), replacing Christie Todd Whitman who resigned in June. [US President, 8/18/2003] Leavitt was at the center of a controversy a couple of months ago for a back-room deal he made with Interior Secretary Gale Norton to suspend wilderness studies on millions of acres of Utah lands (see April 11, 2003). He supports replacing mandatory pollution controls with voluntary compliance programs for polluting industries and is a strong backer of the administration’s policy of shifting environmental regulation to the states. [Washington Times, 8/12/2003] During his term as governor, US Magnesium, a magnesium-processing company on the western side of the Great Salt Lake, earned the place as the nation’s worst polluter. Leavitt says that he and Bush “have a like mind and a like heart” on environmental policy. [Salt Lake Tribune, 8/12/2003] Environmentalists condemn the nomination noting that aside from Leavitt’s strong opposition to a plan to store nuclear waste on a Utah Indian reservation, the governor has a very poor environmental record. “Mike Leavitt has no credentials, no understanding and no political willpower to protect America’s clean air, clean water and clean land,” Marc Clemens, chapter coordinator for the Utah Sierra Club, tells the Salt Lake Tribune. [Salt Lake Tribune, 8/12/2003]

Entity Tags: Mike Leavitt, Environmental Protection Agency, George W. Bush

Timeline Tags: US Environmental Record

Interior Secretary Gale Norton signs a legal opinion by Deputy Solicitor Roderick Walston reversing the interpretation of the agency’s previous solicitor-general, John Leshy, who had ruled in 1996 that the 1872 Mining Law limits each 20-acre mining claim on federal land to a single five-acre waste site. As a result of Norton’s decision, mining companies will be permitted to dump unlimited amounts of toxic waste on public lands, threatening surrounding waterways, wildlife, and the health of local human populations. The Bush administration and the mining industry have argued that the Clinton-era opinion caused a significant reduction in US minerals exploration, mine development and mining jobs since 1997. “It created an atmosphere of uncertainty and when you are making investments of hundreds of millions of dollars, uncertainty is not something you want to face,” explains Assistant Interior Secretary Rebecca Watson. “We anticipate we will now see more development and exploration for mining.” The decision was praised by the mining industry. “This is good news,L Russ Fields, executive director of the Nevada Mining Association. “The old opinion did create a lot of uncertainty for our industry.” [Associated Press, 10/10/2003]

Entity Tags: Bush administration (43), Gale A. Norton, John Leshy, Roderick Walston

Timeline Tags: US Environmental Record

President Bush signs into law the “Healthy Forest Restoration Act,” (see May 21, 2003) aimed at reducing environmental and judicial review of forest-thinning fire-prevention programs in national forests. The law—modeled on President Bush’s “Healthy Forest Initiative”—almost doubles the federal budget for forest-thinning projects to $760 million. [White House, 12/3/2003; Associated Press, 12/4/2003; Los Angeles Times, 12/4/2003] The bill axes a requirement that any proposed US Forest Service (USFS) program that may adversely affect endangered plants or animals be reviewed by the Fish and Wildlife Service or the National Marine Fisheries Service. Under the new law, reviews will instead be performed by USFS biologists or other land-management agencies. Marty Hayden, legislative director for Earthjustice, says the measure removes important checks and balances. “The conflict of interest is that the agency whose top job is to do the logging will make this decision, rather than the agency whose top job is to protect threatened or endangered species,” he explains. [Los Angeles Times, 12/4/2003] Critics of the bill argue that it will make it easier for timber companies to log large fire-resistant trees in remote parts of the forest and ignore the needs of at-risk communities who need help clearing flammable brush from the immediate areas surrounding their homes and property. Sean Cosgrove, a forest expert with the Sierra Club, tells CNN: “The timber industry fought real hard for this bill for a reason and it’s not because they want to remove brush and chaparral. Through and through this thing is about increasing commercial logging with less environmental oversight.” Overall, critics say, the law reduces environmental review, limits citizen appeals, pressures judges to quickly handle legal challenges to logging plans, and facilitates access for logging companies to America’s 20 million acres of federal forests. [Associated Press, 12/3/2003; Natural Resources Defense Council, 12/3/2003; Associated Press, 12/4/2003]

Entity Tags: George W. Bush, US Forest Service, Bush administration (43)

Timeline Tags: US Environmental Record

Interior Secretary Gale Norton says her department intends to increase the number of permits granted each year for gas drilling on public lands in Wyoming’s Powder River Basin from 1,000 to 3,000 and “streamline” the permit review process. The decision is a response to complaints by energy companies that the review process for drilling permits on federal property is three times as long as that for drilling on private and state-owned lands. Critics warn that the quicker permit approval process will come at the expense of thorough environmental impact assessments. Drilling for gas wells in the northeastern Wyoming basin requires pumping groundwater to release the natural gas trapped in coal seams. This often causes the wells of local residents to run dry. [Associated Press, 1/22/2004]

Entity Tags: US Department of Interior, Bush administration (43), Gale A. Norton

Timeline Tags: US Environmental Record

The Bureau of Land Management (BLM) auctions off oil and gas leases for 14 parcels of federal land located near Dinosaur Monument in Colorado and Utah. The leases—totaling some 5,000 acres—include areas that were previously identified by the agency as having wilderness quality but which lost their protected status as part of a settlement between the state of Utah and the BLM (see April 11, 2003). A number of the leases—some selling for as little as $5 per acre—are purchased by contributors to President Bush’s 2004 reelection campaign. [Salt Lake Tribune, 2/14/2004; Washington Post, 3/1/2004] According to the Environmental Working Group, the area includes seven Mexican spotted owl habitats, 12 golden eagle habitats and four peregrine falcon habitats. [Washington Post, 3/1/2004; Environmental Working Group, 12/31/2005]

Entity Tags: Bush administration (43), Kathleen Clarke

Timeline Tags: US Environmental Record

The US Fish and Wildlife Service acknowledges that the Pacific fisher, a rare relative of weasels, otters and minks, is at risk of extinction and warrants federal protection, but says that the agency lacks the funds needed to adequately protect the species. The Fish and Wildlife Service says it will make the animal a candidate for listing as threatened or endangered under the Endangered Species Act. The Pacific fisher’s status will be reviewed annually until it is either added to the list or until the species’ population recovers to a level that no longer warrants federal protection. Critics complain that not only is the federal government failing in its obligation to protect endangered species, but it is pursuing policies that damage its habitat, such as the Bush administration’s forest preservation policies that encourage increased logging (see December 3, 2003). [Associated Press, 4/9/2004]

Entity Tags: Bush administration (43), US Fish and Wildlife Service

Timeline Tags: US Environmental Record

Secretary of Interior Gale Norton resigns. In her resignation letter to President Bush she thanks him and praises him for “great work in the face of hurricanes, record-setting wildfires and droughts, acrimonious litigation, and expanded post 9/11 security responsibilities.” [CNN, 3/10/2006] Norton, who has been criticized by environmental groups for opening public lands up to timber (see December 11, 2002), mining, and oil and gas interests (see April 11, 2003, October 8, 2003, and January 21, 2004), will be hired as a key legal advisor for Royal Dutch Shell PLC in December. [New West, 12/27/2006]

Entity Tags: George W. Bush, Royal Dutch/Shell, Gale A. Norton

Timeline Tags: US Environmental Record

Deloitte publishes its Football Money League rankings for the 2005-6 season. The rankings of the top 20 European clubs and their football earnings are:
(1) Real Madrid (€292.1m)
(2) Barcelona (€259.1m)
(3) Juventus (€251.2m)
(4) Manchester United (€242.6m)
(5) AC Milan (€238.7m)
(6) Chelsea (€221.0m)
(7) Internazionale (€206.6m)
(8) Bayern Munich (€204.7m)
(9) Arsenal (€192.4m)
(10) Liverpool (€176.0m)
(11) Lyon (€127.7m)
(12) Roma (€127.0m)
(13) Newcastle United (€124.3m)
(14) Schalke (€122.9m)
(15) Tottenham Hotspur (€107.2m)
(16) Hamburg (€101.8m)
(17) Manchester City (€89.4m)
(18) Rangers (€88.5m)
(19) West Ham United (€86.9m)
(20) Benfica (€85.1m) [Deloitte, 2/2007 pdf file]

Entity Tags: Benfica, Fussball-Club Gelsenkirchen-Schalke 04, Real Madrid Club de Fútbol, Tottenham Hotspur F.C., West Ham United, FC Barcelona, Rangers, Bayern Munich, Arsenal F.C., Newcastle United F.C., Roma, Manchester United F.C., Hamburg SV, Milan, Chelsea F.C., Internazionale, Deloitte, Liverpool F.C., Juventus, Manchester City F.C., Olympique Lyonnais

Timeline Tags: Football Business and Politics

Chelsea announces the club lost £80.2m in the 2005-06 season. The loss is far less than the season before, when it was around £140m, but is still the third largest loss in the history of English football. Total losses over the three years since Roman Abramovich bought the club now exceed £300m. [Reuters, 2/19/2007] Chelsea turned over €221m in the 2005-06 season (see February 2007).

Entity Tags: Chelsea F.C.

Timeline Tags: Football Business and Politics

Chelsea announces a loss of £74.8m for the 2007-08 football season. The figures show a 25 percent increase in turnover, to £190.5m, making the club second only to Manchester United in the Premier League, but the loss fell by only 7 percent compared to the previous season (see February 19, 2007). Chief executive Peter Kenyon allows that the club’s aim of breaking even by 2010 is “ambitious,” but adds: “I don’t think it’s something we are postponing, but it’s always been ambitious. We are determined to meet it, or get as close as we can.” [Guardian, 2/22/2008] The club will actually make a loss of over £70m in the 2009-10 season (see January 31, 2011).

Entity Tags: Chelsea F.C., Peter Kenyon

Timeline Tags: Football Business and Politics

The British retail chain Woolworths goes into administration with debts of £385m (about $580m). The administration was brought on by a cash crisis and a loss of backing by financial institutions that had lent it money, in particular Burdale and GMAC. It is the largest casualty of the global economic crisis in Britain so far, and its failure jeopardizes 30,000 jobs across the country. The British government had intervened to save the company, but only by encouraging last-minute talks between it and the lenders, which failed. No financial support from the taxpayer was offered. The administrator, the auditor Deloitte, appoints Hilco, a company specializing in reconstruction, to run the business. Hilco had been attempting to buy Woolworths before it went into administration. Deloitte says that stores will remain open during the Christmas period, and that it will attempt to find a new owner that can satisfy the company’s lenders. [Financial Times, 11/26/2008]

Entity Tags: GMAC, Deloitte, Hilco, Burdale, Woolworth Group PLC

Timeline Tags: Global Economic Crises

Deloitte publishes its Football Money League rankings for the 2007-2008 season. The rankings of the top 20 European clubs and their football earnings are:
(1) Real Madrid (€365.8m)
(2) Manchester United (€324.8m)
(3) FC Barcelona (€308.8m)
(4) Bayern Munich (€295.3m)
(5) Chelsea (€268.9m)
(6) Arsenal (€264.4m)
(7) Liverpool (€210.9m)
(8) AC Milan (€209.5m)
(9) AS Roma (€175.4m)
(10) Internazionale (€172.9m)
(11) Juventus (€167.5m)
(12) Olympique Lyonnais (€155.7m)
(13) Schalke 04 (€148.4m)
(14) Tottenham Hotspur (€145.0m)
(15) Hamburger SV (€127.9m)
(16) Olympique de Marseille (€126.8m)
(17) Newcastle United (€125.6m)
(18) VfB Stuttgart (€111.5m)
(19) Fenerbahce (€111.3m)
(20) Manchester City (€104.0m) [Deloitte, 2/13/2009]

Entity Tags: Real Madrid Club de Fútbol, Bayern Munich, Olympique de Marseille, Fussball-Club Gelsenkirchen-Schalke 04, Tottenham Hotspur F.C., VfB Stuttgart, Newcastle United F.C., FC Barcelona, Arsenal F.C., Milan, Roma, Manchester City F.C., Fenerbahce S.K., Deloitte, Manchester United F.C., Hamburg SV, Chelsea F.C., Juventus, Liverpool F.C., Olympique Lyonnais, Internazionale

Timeline Tags: Football Business and Politics

Chelsea announces that the club made a loss of £44m the previous season. This is the smallest loss since the football club was taken over by Roman Abramovich in 2003 and was achieved despite a fall in turnover from £213.1m to £206.4m. Chief executive Ron Gourlay comments, “It is still our aim to be self-sufficient and we will achieve this by increasing our revenues as we continue to leverage off our brand.” [Guardian, 12/30/2009]

Entity Tags: Chelsea F.C., Ron Gourlay

Timeline Tags: Football Business and Politics

Deloitte publishes its Football Money League rankings for the 2008-2009 season, in which Real Madrid was the first European club to earn more than €400m. The rankings of the top 20 European clubs and their football earnings are:
(1) Real Madrid (€401.4m)
(2) FC Barcelona (€365.9m)
(3) Manchester United (€327.0m)
(4) Bayern Munich (€289.5m)
(5) Arsenal (€263.0m)
(6) Chelsea (€242.3m)
(7) Liverpool (€217.0m)
(8) Juventus (€203.2m)
(9) Internazionale (€196.5m)
(10) AC Milan (€196.5m)
(11) Hamburger SV (€146.7m)
(12) AS Roma (€146.4m)
(13) Olympique Lyonnais (€139.6m)
(14) Olympique de Marseille (€133.2m)
(15) Tottenham Hotspur (€132.7m)
(16) Schalke 04 (€124.5m)
(17) Werder Bremen (€114.7m)
(18) Borussia Dortmund (€103.5m)
(19) Manchester City (€102.2m)
(20) Newcastle United (€101.0m) [Deloitte, 3/2010 pdf file]

Entity Tags: Olympique de Marseille, Bayern Munich, Olympique Lyonnais, Roma, SV Werder Bremen, Tottenham Hotspur F.C., Newcastle United F.C., Ballspiel-Verein Borussia 1909 e. V. Dortmund, Arsenal F.C., Milan, Real Madrid Club de Fútbol, Manchester City F.C., FC Barcelona, Deloitte, Manchester United F.C., Fussball-Club Gelsenkirchen-Schalke 04, Chelsea F.C., Internazionale, Juventus, Liverpool F.C., Hamburg SV

Timeline Tags: Football Business and Politics

Chelsea announces a huge loss of £70.9m for the 2009-2010 football season, in which the club won the league and cup double. In the previous season the loss had been £44.4m (see December 30, 2009), although in the two years before that it was around £70m. Chelsea blames the loss on the amortization of player transfer fees, which means how much a player’s value in the accounts decreases over the length of his contract. Chelsea chairman Bruce Buck describes the results as “significant progress,” and cites what the club calls a “net cash inflow of £3.8m” as evidence. Buck says, “That the club was cash generative in the year when we recorded a historic Premier League and FA Cup double is a great encouragement and demonstrates significant progress as regards our financial results.” The same day as the loss is announced, Chelsea pays Liverpool a record £48m for Spanish striker Fernando Torres. [Independent, 2/1/2011]

Entity Tags: Bruce Buck, Chelsea F.C.

Timeline Tags: Football Business and Politics

A new “super PAC” aligned with presidential candidate Mitt Romney (R-MA) is being formed by a group of Romney backers and former Romney campaign aides, according to a report by the Washington Post. Super PACs are political organizations that exist to influence elections, which take unlimited amounts of outside money from donors, including individuals, unions, and corporations, and pool that money to advocate for or against a candidate (see March 26, 2010). By law, super PACs are supposed to operate independently of a candidate’s official campaign organization.
Restore Our Future - The Romney super PAC, “Restore Our Future” (ROF), is one of a number of such organizations created in the aftermath of the US Supreme Court’s Citizens United ruling (see January 21, 2010). Restore Our Future is apparently the first super PAC to form specifically in support of one of the 2012 presidential contenders, with the sole exception of Priorities USA Action, a super PAC in support of President Obama. ROF treasurer Charles R. Spies, who served as Romney’s general counsel in his 2008 presidential effort, refuses to disclose how much the organization has raised, or who is donating. Spies merely says: “This is an independent effort focused on getting Romney elected president. We will do that by focusing on jobs and his ability to fix the economy.” A Romney campaign aide says that a Federal Election Commission (FEC) filing coming up in July will show the organization having raised some $20 million. A major Romney donor who refuses to allow his identity to be revealed says, “We just want to show that we’ve got more dough than anyone.” The Romney campaign’s communication director, Gail Gitcho, says the campaign welcomes any outside support, and points to the Obama campaign as the largest fundraiser in the race, saying, “We are pleased that independent groups will be active in fighting this entrenched power [the Obama campaign] so the country can get back to work.”
Leaders of ROF - Members of the ROF board of directors include Spies; Carl Forti, political director for Romney’s 2008 campaign; and Larry McCarthy, a member of the Romney media team in 2008. Forti is the co-founder of the Black Rock Group consulting firm and the political director of American Crossroads, a conservative super PAC expected to raise over $120 million for candidates in 2012. Neither Forti nor American Crossroads will discuss the role played by Forti in both organizations. ROF actually registered itself with the FEC in October 2010, but has remained unaffiliated and essentially dormant until recent weeks. Now ROF officials are briefing top donors about the organization’s plans and fundraising goals. Former Obama spokesman Bill Burton, the head of Priorities USA Action, says: “I’m not surprised that there’s even more money coming into this race to help Mitt Romney. He’s a pretty deeply flawed candidate; he’s going to need all the help he can get.” Dave Levinthal of the Center for Responsive Politics says of the super PACs: “The outside groups are akin to the biggest booster club you can imagine for a college football team. The club can’t give cars or gifts to the players, but they can do everything else possible to support them.… It’s a brand-new way to play politics.” [Washington Post, 6/23/2011] The Post fails to note many of the details about ROF’s senior officials. According to the Public Campaign Action Fund, Spies is not only a lawyer and a consultant, but a registered lobbyist for Clark Hill PLC, representing a chain of luxury casinos. ROF’s address as listed on its FEC filings is the same as Clark Hill’s Washington, DC, office. The Action Fund observes, referring to the Republican primary and the number of wealthy donors lined up behind each major candidate, “While [ROF] officially can’t coordinate with the Romney campaign, having lobbyists on your side is definitely a good way to boost one’s standing in the so-called ‘wealth primary.’” [Public Campaign Action Fund, 6/23/2011] The liberal news Web site Think Progress will soon note that McCarthy is a veteran advertising creator for Republican candidates, and was one of the strongest creative forces behind the infamous 1988 “Willie Horton” ad, which many considered to be extraordinarily racist (see September 21 - October 4, 1988). In 2010, McCarthy served as a media strategist for the American Future Fund, which launched attack ads attempting to link Democrats to the Park 51 community center in Manhattan, deemed by conservatives as the “Ground Zero Victory Mosque” and mischaracterized as a monument celebrating the 9/11 attacks. Those ads were decried by many as being bigoted against Muslims. McCarthy has brushed off criticism of his ads, and said the fact-checking organizations that found his ads to be flawed suffered from a pro-Democratic bias. Think Progress reporter Lee Fang will write that when he tried to find the American Future Fund office in Iowa, the address listed for the group turned out to be a UPS mailbox in a strip mall near an airport. Fang will write, “With a record of such secrecy and racist, anything-goes campaign tactics, one can expect Romney’s new outside group to be just as ugly in the presidential race.” [Politico, 10/29/2010; Think Progress, 6/27/2011]

Entity Tags: Charles R. Spies, Washington Post, Willard Mitt Romney, Carl Forti, American Future Fund, American Crossroads, 2012 Obama presidential election campaign, US Supreme Court, Bill Burton, Think Progress (.org), Public Campaign Action Fund, Larry McCarthy, Gail Gitcho, Federal Election Commission, Dave Levinthal, Lee Fang, Restore Our Future, Priorities USA Action, Mitt Romney presidential campaign (2012)

Timeline Tags: Civil Liberties, 2012 Elections

Chelsea announce a loss of £67.7m for the 2010-2011 season, slightly less than the previous one (see January 31, 2011). There was a modest increase in revenues to £222.3m from £205.8m, thanks to Champions League and television income. Wages were down by £4.4m on last year and operating expenses down by £7m. The accounts contain an extraordinary item of £28m relating to the replacement of manager Carlo Ancelotti with André Villas-Boas in the summer. This means that Chelsea’s manager replacement costs have been around £64m in the last four years. In addition, the accounts reveal Chelsea paid £6.4m to Her Majesty’s Revenue and Customs to settle claims arising from a failed tax avoidance scheme that involved paying players not salary, but compensation for use of their image rights. The size and repeated nature of the loss means that Chelsea may have difficulty complying with UEFA’s financial fair play regulations, although the consequences of this are unclear. [Guardian, 2/8/2012]

Entity Tags: Chelsea F.C.

Timeline Tags: Football Business and Politics

Deloitte publishes its annual rankings of the richest clubs in European football. There is little change to the top 10, and the top seven clubs are in exactly the same positions as they were last year (see February 2011). The rankings of the top 20 European clubs and their football earnings are:
(1) Real Madrid (€479.5m)
(2) FC Barcelona (€450.7m)
(3) Manchester United (€367m)
(4) Bayern Munich (€321.4m)
(5) Arsenal (€251.1m)
(6) Chelsea (€249.8m)
(7) AC Milan (€235.1m)
(8) Internazionale (€211.4m)
(9) Liverpool (€203.3m)
(10) Schalke 04 (€202.4m)
(11) Tottenham Hotspur (€181m)
(12) Manchester City (€169.6m)
(13) Juventus (€153.9m)
(14) Olympique de Marseille (€150.4m)
(15) AS Roma (€143.5m)
(16) Borussia Dortmund (€138.5m)
(17) Olympique Lyonnais (€132.8m)
(18) Hamburger SV (€128.8m)
(19) Valencia (€116.8)
(20) Napoli (€114.9). [Deloitte, 2/2012; Press Association (London), 2/9/2012]

Entity Tags: Bayern Munich, Olympique de Marseille, Real Madrid Club de Fútbol, Roma, Società Sportiva Calcio Napoli S.p.A., Tottenham Hotspur F.C., Olympique Lyonnais, Ballspiel-Verein Borussia 1909 e. V. Dortmund, Arsenal F.C., Milan, Valencia, Manchester City F.C., Chelsea F.C., Manchester United F.C., Deloitte, Fussball-Club Gelsenkirchen-Schalke 04, FC Barcelona, Juventus, Hamburg SV, Liverpool F.C., Internazionale

Timeline Tags: Football Business and Politics

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