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UEFA to close contract loophole allowing clubs to spread cost of transfers
UEFA to close contract loophole allowing clubs to spread cost of transfers
UEFA is set to close a loophole on Wednesday allowing clubs to spread the cost of big transfer fees over lengthy contracts. Chelsea have caught the eye over the last two transfer windows by signing players on long deals, including £107million January recruit Enzo Fernandez on an eight-and-a-half-year contract. The Blues have done so in order to spread the cost of the transfer fee over a greater period of time and comply with UEFA’s financial regulations, something which is currently permitted. However, it is understood UEFA’s executive committee will update the regulations when it meets on Wednesday. It is expected there will be no limit on the length of a contract, but the cost of any transfer fee will have to be spread over a maximum of five years. The PA news agency understands the Exco will not re-examine UEFA’s policies on multi-club ownership when it meets this week, despite it becoming an increasingly contentious and controversial issue in the game. However, UEFA’s Club Financial Control Body (CFCB) is meeting this week to examine individual cases where there could be a conflict under existing multi-club ownership rules in its competitions next season. PA understands the CFCB is looking at Brighton and Belgian club Union St Gilloise, who have each qualified for next season’s Europa League and are both owned by Tony Bloom, and also Toulouse and AC Milan, who are owned by US-based investment firm RedBird Capital. A decision from the CFCB is expected towards the end of the week. Away from financial matters, the Exco will decide on which venue will host the 2025 Women’s Champions League final. The Jose Alvalade Stadium in Lisbon is understood to be up against the Vodafone Stadium in Istanbul for the right to host. The 2024 and 2025 Europa Conference League final hosts will also be decided. The OPAP Arena, home to AEK Athens, is expected to host one of them while the Tarczynski Arena in Wroclaw, Poland, will stage the other. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
2023-06-27 23:18
MLB Home Run Derby 2023: Picking 8 players to create the perfect bracket
MLB Home Run Derby 2023: Picking 8 players to create the perfect bracket
With the MLB Home Run Derby coming up and only one participant announced, what would the dream 2023 Home Run Derby look like?The Home Run Derby is one of the most exciting contests in all of sports. The most powerful, electric and exciting players in baseball get together and take place in a tou...
2023-06-27 22:51
American Equity Hits Record on $4.3 Billion Brookfield Bid
American Equity Hits Record on $4.3 Billion Brookfield Bid
American Equity Investment Life Holding Co. shares soared to an all-time high after an arm of Canadian investment
2023-06-27 22:17
These Are the Best Restaurants in Singapore, According to Michelin
These Are the Best Restaurants in Singapore, According to Michelin
The news in the Singapore restaurant world is that there’s not much news. There were no new three
2023-06-27 21:46
Canada Inflation Slows, Easing Pressure for July Rate Hike
Canada Inflation Slows, Easing Pressure for July Rate Hike
Canadian inflation slowed to its weakest pace in two years and core measures edged lower, reducing pressure on
2023-06-27 21:27
Walgreens Falls as Outlook Slashed on Fading Pandemic Demand
Walgreens Falls as Outlook Slashed on Fading Pandemic Demand
Walgreens Boots Alliance Inc. shares tumbled after the drugstore chain slashed its adjusted earnings forecast for the fiscal
2023-06-27 21:25
Tottenham standing firm on Harry Kane amid interest from Bayern Munich
Tottenham standing firm on Harry Kane amid interest from Bayern Munich
Tottenham have no intention of selling Harry Kane this summer, the PA news agency understands. The club’s record goal-scorer is approaching the final 12 months of his contract and reports on Tuesday indicated Bayern Munich had bid 70million euros plus add-ons for the England captain. PA understands Spurs have not received an official offer from the Bundesliga champions and any bid would be immediately rejected. Tottenham’s stance on Kane remains consistent with the last few transfer windows despite continued interest in the 29-year-old, who was heavily linked with a move to Manchester City in 2021. Kane subsequently stayed with his boyhood team and broke the club’s all-time scoring record in February with the winner against Pep Guardiola’s side. It saw Kane move beyond Jimmy Greaves’ tally of 266 goals for Spurs, which had stood since 1970. The next target in Kane’s sights is Alan Shearer’s record Premier League haul of 260 goals. After a fine individual campaign in which Kane scored 30 goals, despite the north London club finishing eighth and having three head coaches, the forward is now only 48 away from passing Shearer’s tally. Discussions between Spurs and Kane’s camp over a new contract were set to be pushed back until the end of the 2022-23 campaign, but the club are yet to appoint a director of football and Kane’s own season only finished on June 19 following England commitments. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
2023-06-27 21:23
Wilfried Zaha and Stormzy to take over non-League AFC Croydon
Wilfried Zaha and Stormzy to take over non-League AFC Croydon
Crystal Palace forward Wilfried Zaha and rapper Stormzy are set to become joint owners of non-League club AFC Croydon. The pair are part of a three-man consortium, along with former Palace head of player care Danny Young, that has agreed a deal to acquire the assets of the south London side, who play in the Combined Counties Football League Premier South Division – the ninth tier of English football. Croydon announced contracts had been exchanged with the existing ownership and the consortium “will own, operate and develop their childhood hometown football club”. A statement added: “Whilst completion is subject to legislative and governance procedures, the three consortium members are excited about developing a community asset in the borough that gave them their own opportunities. “They hope to take the entire community on this exciting journey with them.” Zaha, 30, was born in Ivory Coast but raised in the borough of Croydon. He is already involved in community projects in the area through his own charitable foundation and an Academy. Zaha tweeted: “May the journey begin.” The latest announcement comes at a time of uncertainty of over Zaha’s playing future, with his Palace contract set to expire at the end of this month. The player has been offered a new deal at Selhurst Park but is yet to commit and has been linked with other clubs in the Premier League, elsewhere in Europe and Saudi Arabia. Stormzy, 29, also hails from Croydon and has a long-standing friendship with Zaha.
2023-06-27 19:27
UK to work more closely with EU on financial services
UK to work more closely with EU on financial services
The UK and EU pact is being seen as a step towards better relations over financial services.
2023-06-27 19:22
Surging India Internet Stocks Trounce China Peers, Widening Gap
Surging India Internet Stocks Trounce China Peers, Widening Gap
India’s consumer technology stocks are on a tear this year, handsomely beating their larger rivals in China and
2023-06-27 17:48
BOE’s Dhingra Sees Promising Signs Inflation Will Fall
BOE’s Dhingra Sees Promising Signs Inflation Will Fall
Bank of England rate-setter Swati Dhingra expects the pressure on UK households from sticky inflation to ease after
2023-06-27 17:48
Banks Face Growing Capital Scrutiny With Stress Tests Up First
Banks Face Growing Capital Scrutiny With Stress Tests Up First
The Federal Reserve’s stress test is usually the most dreaded part of Wall Street firms’ annual capital planning.
2023-06-27 17:29
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