Berkida Podcast
In this episode, host Massimo Marinelli [https://www.linkedin.com/in/massimo-marinelli-803274/] sits down with Sasha Ryazantsev [https://www.linkedin.com/in/sasha-r-90707216b/], former Chief Finance and Commercial Officer of Everton and current CFO advisor to Burnley Football Club [https://www.linkedin.com/company/burnleyofficial/], to unpack the financial realities shaping modern football. Moving beyond headlines, the conversation focuses on investor-driven themes including financial sustainability, UEFA’s evolving cost control framework, and the rapid rise of multi-club ownership structures. Sasha explains what financial sustainability truly means in practice, not simply complying with regulations, but achieving on-pitch performance without recurring capital injections. The discussion dives into the shift from traditional profitability rules to UEFA’s 70% Squad Cost Ratio, the regulatory tension between UEFA and the Premier League, and how newly qualified European clubs face structural pressure under the new system. Key Takeaways: 1. Financial sustainability means delivering sporting performance without permanent reliance on new equity or debt injections 2. UEFA’s 70% Squad Cost Ratio shifts focus from accounting losses to revenue-linked cost control 3. Newly qualified European clubs face structural challenges moving from domestic rules to stricter UEFA thresholds 4. Stadium investments can boost matchday revenue but are increasingly difficult to justify on return-on-capital grounds 5. Multi-club ownership can create player trading and financial diversification synergies, but only if structured strategically Key Timestamps: 00:00 - Introduction and Sasha’s background in football finance 05:03 - From profitability rules to squad cost ratios 10:47 - How the 70% UEFA Squad Cost Ratio works 13:59 - Infrastructure investment vs. squad spending 16:00 - Premier League vs. UEFA regulatory overlap 17:03 - The rise of multi-club ownership structures 19:30 - Where real MCO synergies exist 23:52 - European qualification risks within MCO models 26:16 - Group-level finance and diversification benefits Follow our guest, Sasha’s Ryazantsev: 1. LinkedIn: https://www.linkedin.com/in/sasha-r-90707216b/ [https://www.linkedin.com/in/sasha-r-90707216b/] 2. Burnley Football Club LinkedIn: https://www.linkedin.com/company/burnleyofficial/ [https://www.linkedin.com/company/burnleyofficial/] Connect with the Host Massimo Marinelli: 1. LinkedIn: https://www.linkedin.com/in/massimo-marinelli-803274/ [https://www.linkedin.com/in/massimo-marinelli-803274/] Follow Halford Media Advisory: 1. LinkedIn: https://www.linkedin.com/company/halford-media-advisory/ [https://www.linkedin.com/company/halford-media-advisory/] 2. Website: https://www.halfordmediaadvisory.com/ [https://www.halfordmediaadvisory.com/] More from Berkida Ventures: 1. Website: https://sites.google.com/view/berkida-ventures/ [https://sites.google.com/view/berkida-ventures/] 2. Substack: https://theberkidabrief.substack.com/ [https://theberkidabrief.substack.com/] 3. LinkedIn: https://www.linkedin.com/company/berkida-ventures/ [https://www.linkedin.com/company/berkida-ventures/] 4. Email: info@berkida-ventures.com [info@berkida-ventures.com]
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