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As it happened: Stocks mixed as Trump warns takes ‘two to tango’ on Iran peace As it happened: Stocks mixed as Trump warns takes ‘two to tango’ on Iran peace Replace Reeves if Starmer goes, voters tell Labour Right to Buy has been a huge success, of course the left hates it Regional bond revolution risks making Britain more unequal and less prudent Labour may not agree with Blair, but the public does… The world can’t keep consuming more than it produces If performance matters more than privilege then prove it Wayve: London robotaxis will make passengers forget there’s no driver Mandelson Files add insult to injury, but the patient was already beyond saving Blackstone Raises its Largest Asia Private Equity Fund at $13.1 Billion Pension master trusts join forces to tackle outdated transfer systems Iran ‘pulls out of talks with US’ and threatens to strike Israel Anthropic files for IPO as race with OpenAI heats up ‘Be more Trumpian’ – Mandelson discussed dire economy and ‘lack of verve’ with key Starmer ally Deloitte UK appoints first chief AI officer in drive for ‘AI-enabled’ services Private credit is crowded — but disciplined capital still knows where to look Squash players turn to social media to cash in on LA Olympic Games opportunities Interactive Brokers Integrates AI into Client Portfolios – Informed by Agentic Technology, Controlled by the Client WWEX Group and Auctane Complete Merger, Creating Leading Logistics Provider ShipStation Global Sadiq Khan: London tech boom can weather ‘dizzying’ AI risks New mixed gender trophy introduced for coming Hundred season Labour voters lead AI adoption as public remains split on impact North Highland Names Anthony Shaw Global Chief Executive Officer Vyond Appoints SaaS Industry Veteran Scott Ernst as Chief Executive Officer Winston Taylor Completes Historic Transatlantic Combination M&S chief’s pay slashed by £3m after cyberattack turmoil Inside Celonis, the German tech unicorn that won over a fifth of the FTSE 100 Stop and think before asking for a bigger salary Brits back Blair’s growth calls – yet are squeamish over welfare cuts Number of claims management firms halves after FCA clampdown Richard Desmond hit with £40m bill over ‘fanciful’ lottery feud Pub bosses warn tax hikes driving youth unemployment crisis UK manufacturing survives Iran war impact Labour sheds union member support to Reform, poll shows Private equity-backed Ryan triumphs in bidding for European tax adviser Svalner Atlas Wise shares plummet as money transfer firm faces fraud investigation KBRA Releases Research – European Fibre ABS: From Build-out to Securitisation Everbridge Expands Presence in Germany with New Munich Office Iran war triggers slump in selfies, ME Group warns Landlords rush to protect income over Renters’ Rights Act fears Ascensia Diabetes Care Expands CONTOUR® Portfolio with CONTOUR®COMFORT Pen Needles to Bring Greater Stability and Control to the Everyday Injection Experience Corient Completes Acquisitions of Stonehage Fleming and Stanhope Capital Group; Global Assets Surpass US$500 Billion Autobrains and Uber to Launch Agentic AI Robotaxi Program in Munich built on NVIDIA DRIVE Hyperion Easyjet fires back at ‘highly opportunistic timing’ as Castlelake weighs takeover bid House prices fall again as property market ‘deteriorates’ Exclusive: Roland Garros star and ATP chief in £450,000 tennis fund raise Milburn NEET review: Anger crackles from the page but will Labour act? Deloitte and KPMG challenge PwC’s iron grip on FTSE 100 clients City policy chairman: 10 years on from Brexit, the UK still needs the EU Fintech firms grew four times faster than traditional banks in 2025 Revolut, Wayve and Elevenlabs join European tech sovereignty push UK music tech faces scale-up crunch as growth funding collapses House prices will fall by two per cent this year – the most since the financial crisis BCG, Bain and Alvarez & Marsal to ramp up entry level hiring despite AI fears NATO military chief presses UK to accelerate defence pledges Ministers back SNP probe as Sturgeon refuses to apologise for Murrell Key Mandelson file withheld by Cabinet Streeting suggests North Sea drilling and NI cuts in latest pitch Manchester City and Spygate prove lawyer gulf is opening in football ‘Defining moment’: UK’s largest train operator enters public ownership Trump yet to make ‘final determination’ on Iran war despite discussions Chaos at Heathrow as burst water pipe causes train cancellations Neil Woodford criticises BP board for ousting ‘shouty’ chairman Easyjet attracts takeover interest from US private credit firm Burnham would end asylum hotel contracts if he was PM, allies say Universal Music rejects Bill Ackman’s $65bn takeover bid How do professional footballers keep their divorces private? 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Chelsea to hand Joao Pedro wage boost as club prepare for tough summer
Sam Cunningham · 2026-06-03 · via City AM

 |  Updated: 

Breaking news conference podium with microphones and cityscape backdrop, conveying urgency and professionalism
Chelsea face a difficult summer following their failure to qualify for Europe

Chelsea face a difficult summer ahead following their failure to qualify for Europe, but Joao Pedro is set for a base-salary increase that may help them keep hold of one of their star players. 

The Brazilian forward – a £60m signing from Brighton last summer – was a rare bright spark in an otherwise gloomy season, scoring 20 goals across all competitions and being shortlisted as one of the Premier League transfers of the season.

Chelsea operate a unique salary system tied to team performance and achievements. Base salaries are lower than at rival clubs, but bonuses for trophies and Champions League qualification can elevate earnings significantly. 

The flip side is that poor seasons result in a decrease. Chelsea finished 10th in the Premier League and their failure to make Europe will hit player bonuses earned last season. City AM understands the bonus structures vary by individual, meaning the drop will differ across the squad.

With the club remaining under Uefa restrictions after breaching spending rules, it makes this a particularly challenging period to navigate for new manager Xabi Alonso, who takes over in July.

Nonetheless, Joao Pedro is in line for a base-pay rise after a stellar debut year. His 15 league goals placed him joint-fifth in the Premier League goal-scoring chart, behind only Erling Haaland, Igor Thiago, Antoine Semenyo and Ollie Watkins. 

His 20 combined league goals and assists were six more than his closest team-mate, Enzo Fernandez. Barcelona’s interest in the forward has been widely reported, but the Brazilian is contracted to Chelsea until 2033.

Bournemouth get green light for £85m stadium expansion

Bournemouth’s plans to fully redevelop the Vitality Stadium’s main South Stand have finally been approved by council planners.

This column revealed last month that the south coast club had been forced to amend construction timelines after a BCP Council planning meeting was delayed while officials sought further information.

The club intend to avoid stadium closure during the expansion and had hoped to start work on the South Stand to increase stadium capacity by around 1,500 next season, when the club will compete in Europe for the first time after qualifying for the Uefa Europa League.

But, due to the delays, executives decided instead to carry out minor works on other corner infills, hospitality areas and the stadium perimeter during the off-season, adding only an extra 800 seats.

The full redevelopment – increasing capacity from 11,286 to around 20,200 – will cost around £85m and has now been approved. If all goes to schedule, the South Stand will be demolished next summer and replaced by a new 7,000-seater stand. 

Stadium Structures, which previously partnered with the club on hospitality upgrades, will oversee the work. The increase will mean Bournemouth will no longer have the smallest stadium in the Premier League, overtaking Brentford’s 17,250-capacity Gtech Community Stadium.

Thousands apply to be Tour de France ‘Joy Makers’

Within an hour of volunteer opportunities for next summer’s Tour de France Grand Depart being announced on BBC Breakfast, Britons rushed to sign up.

City AM has been told more than 1,000 people applied to become what organisers are calling “Joy Makers” when cycling’s flagship event begins in the UK. Next July, the men’s race will start in Edinburgh, while the women’s race commences in Leeds a month later.

When the Tour de France last visited the UK – back in 2014 when the Grand Depart was held in Yorkshire – more than 5m spectators turned up to watch. Organisers claim next year’s edition will be the largest free-to-attend sporting event ever staged in Britain.

Around 9,000 volunteers are being sought, and organisers believe the roles offer timely work experience opportunities at a major sporting event amid concerns about youth unemployment. Volunteer hopefuls must submit an application, followed by an interview in the autumn. 

Successful candidates will also undergo basic training in early 2027 followed by specific venue and role training in the spring.

Real Betis bring academy to… Sheffield

LaLiga continues to push to entice fans away from the Premier League, and its latest effort saw Real Betis bring their academy to Sheffield for the first time.

Youth coaches travelled from Seville to run a three-day training camp for nine-to-16-year-olds in the Steel City last week, part of a global expansion designed to export Betis’s distinctive playing philosophy. The project aims to both identify local talent and build the club’s profile among young supporters.

Held at Sheffield University’s facilities and overseen by coaches Santiago Gonzalez and Manuel Dominguez, the camp assessed 60 players on technical, tactical and physical attributes while introducing them to the methods used at Betis’s famed Cantera academy.

It was the club’s first UK camp and forms part of a wider international rollout. The club will also travel to Argentina, Italy, Poland, Sweden and the USA this summer. 

Real Betis, who finished fifth in LaLiga last season and qualified for the Champions League, already operate permanent youth bases teaching the Verdiblancos’ methodology across the globe, including in Mexico, Iraq, Saudi Arabia and Venezuela.