Premier League clubs push government over key question surrounding state ownership in English football
Premier League clubs and other senior football figures have increased pressure on the Department of Culture, Media and Sport over state ownership in the English game, raising specific questions about whether a distinction will be drawn between revenue and equity when it comes to testing the liquidity of clubs. There is a feeling that a more general framing of the rules could have the unintended consequence of diminishing competitive balance, while also worsening the very issue the independent regulator is being set up to tackle. The Saudi Arabian takeover of Newcastle United has made the majority of the Premier League clubs - sometimes described as “the other 18” in this context - more attuned to the potential issues that come with state ownership, and it is understood that the topic was constantly raised in the initial talks that informed the content of the landmark White Paper on football. The issue wasn’t even mentioned in the eventual document, though, despite it representing a significant factor that greatly influences all of the problems that the regulator is supposed to cover - primarily club sustainability and systemic sustainability - through the raising of the financial threshold. The absence of reference was largely put down to the Conservative government’s concern for geopolitics, and another example of how this is affecting the game. Scrutiny on the subject has continued into the formation of the independent regulator, with football officials pressing DCMS on exactly how the body will test the solvency of clubs. The White Paper has made the financial sustainability and resilience of the sport its “primary strategic purpose”. “To support this purpose, it will have 3 specific primary duties,” the paper read. “Club sustainability - the financial sustainability of individual clubs. Systemic stability - the overall stability of the football pyramid. Cultural heritage - protecting the heritage of football clubs that matter most to fans.” Within that, the regulator will be empowered to determine the liquidity requirements for clubs based on the business plans. Other football officials are concerned that, if the framing of the questions around club sustainability only go as far as liquidity and does not have more specific terms relating to whether potential income is revenue, it could end up favouring state-owned or state-linked clubs. The argument is that, since state-owned clubs would easily pass all the solvency tests due to the fact their ownerships have virtually unlimited money and no financial risk, it would further skew the market. They would have complete freedom, while rival clubs had to be more conscious of the parameters when it comes to spending. A fear is that rivals just won't be able to keep up. The issue of revenue and equity is covered by the Premier League’s Financial Fair Play rules, and has informed part of the charges against Manchester City, but club officials are insisting that the independent regulator should be just as rigid on this and ensure all regulations covering the game are as tight and consistent as possible. A comparison has been raised with a similar system in French football, where Paris Saint Germain’s mega sponsorship deal with the Qatar Tourism Authority saw the club easily pass the domestic rules, only for Uefa to subsequently write it down. One of the core issues in the City case is whether money from sponsors Etihad and Etisalat actually came from the owner, Sheikh Mansour, and consequently represented equity disguised as revenue. The case is ongoing as City insist upon their compliance with the rules. Many football figures also raised it as regards Newcastle United's new sponsorship deal with Saudi Arabian company Sela, pointing to a unique question that comes from states with such centralised structures. Read More Welcome to Wrexham’s biggest heroes are neither the A-list owners nor the players How the Champions League lost its spark and led to the end of an era European football is ignorant to the march of the Saudi Pro League Man City scandal is not about fair play – it’s about fraud UEFA warns clubs against overspending in ‘reckless pursuit of success’ Sportswashing is about to change football beyond anything you can imagine
2023-09-25 16:21
Eddie Howe sure Newcastle’s Anthony Gordon on Gareth Southgate’s England radar
Newcastle boss Eddie Howe says Anthony Gordon could be on England boss Gareth Southgate’s radar after his fine performance in the 8-0 romp at Sheffield United. Gordon came on as an early substitute for the injured Harvey Barnes at Bramall Lane and gave the Blades defence nightmares, scoring a fine goal in the second half and also assisting Sean Longstaff’s opener. The 22-year-old has taken his time to find his feet at St James’ Park following his January move from Everton, but has started the season well. And having been part of England Under-21s’ successful European Championship campaign, he could now be in contention for a call-up to the senior squad for next month’s matches. Howe said: “I’m sure Gareth is aware of him and I’m sure he’s been aware of him for a long time. “All Anthony can do is just keep performing like he has and keep his mentality as strong as it has been. He has been a joy to work with and he is reaping the benefits. “That is probably his best game for us, I thought he was very, very good. Very direct, I thought his goal was very good. He just looked a real threat, he has got so much ability, so much to give and he has got the attitude to go with it as well. “He has got desire to improve, I see it every day in training, it is great to see him rewarded with that.” Gordon and Newcastle ran riot as they inflicted Sheffield United’s heaviest-ever league defeat on them. The Blades have taken just one point from their first six games following their return to the Premier League and a long season looks on the cards. They actually started brightly but the way they capitulated set the alarm bells ringing for Blades boss Paul Heckingbottom. “That is the biggest thing from the game for me, which I spoke to the players about,” he said. “Is this going to define our season? No. It’s three points we’ve lost but what has happened there is something that while I’ve been here, we’ve never seen before. “That is what has to be addressed. This is a reminder that if we drop below our levels, that can happen, we are playing against good sides. We need to make sure we need to learn from it, it’s not an easy league. You have to compete and that is what we have to take from that. “We need everyone to step up and it is an eye-opener for the new boys what we are about. “Newcastle outran us today and that’s not acceptable.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Arsenal boss Mikel Arteta ‘not thinking’ about Man City’s lead after derby draw Football rumours: Ivan Toney can leave Brentford if the price is right On this day in 2013: Stephen Lee banned from snooker for match-fixing
2023-09-25 16:21
OpenAI CEO says possible to get regulation wrong, but should not fear it
TAIPEI The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong
2023-09-25 16:18
Italy Offers Banks Get-Out Clause on Divisive Windfall Tax
Shares in Italian banks gained after the government tweaked a proposed windfall tax, giving lenders a chance to
2023-09-25 16:16
Arsenal boss Mikel Arteta ‘not thinking’ about Man City’s lead after derby draw
Arsenal manager Mikel Arteta brushed off talk of Manchester City’s growing lead at the Premier League summit, but did admit injuries were already starting to test his squad. The Gunners were pegged back twice by rivals Tottenham on Sunday and dropped points again following an entertaining 2-2 derby draw. It left Arsenal already four points off City, who are perfect after six fixtures, with the memory of Pep Guardiola’s side being able to overturn an eight-point deficit in April to clinch title success last season still fresh at the Emirates. Guardiola’s City visit north London on October 8 but Arteta, when asked about the current points deficit, insisted: “We’re not thinking about this. We have a game every three days, we try to win our games. “We tried to win our game again and we didn’t manage it for very obvious reasons. That’s it and we have to improve.” Declan Rice added to Arsenal’s growing injury list when he was forced off at half-time with a back problem. It makes the England international an early doubt for Wednesday’s Carabao Cup tie at Brentford, although the ex-West Ham midfielder would likely have been rested in west London anyway. “He had some discomfort in his back. He was telling us during the first half that he was uncomfortable,” Arteta said of Rice. “When we assessed him at half-time, he could not continue so we had to change him. “We have to assess him. It’s strange that a player like him asked to come off because he was uncomfortable. Hopefully not (long-term), but let’s see.” Arsenal were light of attacking options against Tottenham after Leandro Trossard suffered a muscle problem in the midweek thrashing of PSV Eindhoven and Gabriel Martinelli was absent after picking up a hamstring injury at Everton. With Jurrien Timber (knee) out long-term and Thomas Partey sidelined for “weeks” with a groin issue, Arteta’s team are being stretched with cup competitions to juggle alongside league commitments. “It (injuries) was already a test because we missed five big players (for Tottenham), but it’s what we have,” Arteta said. “As well, it gives opportunities to the other ones. We have a game every three days and that’s the level we have to show, so go for it.” They are really well coached. You can feel the spirit in the team, the energy in them, but I think six games is too early for everybody to discuss where we’ll (all) be. Mikel Arteta on Tottenham Fifth-placed Arsenal remain level on points with Tottenham after this draw and, while Arteta praised Ange Postecoglou’s team, he was reluctant to list them as title contenders. “I think they are a really good side,” he acknowledged. “They are really well coached. You can feel the spirit in the team, the energy in them, but I think six games is too early for everybody to discuss where we’ll (all) be.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Football rumours: Ivan Toney can leave Brentford if the price is right On this day in 2013: Stephen Lee banned from snooker for match-fixing The sporting weekend in pictures
2023-09-25 16:15
Aviva agrees to buy AIG's UK protection business for $563 million
LONDON (Reuters) -British insurer Aviva said on Monday it had agreed to acquire the UK protection business of AIG for
2023-09-25 15:59
Drones attack Black Sea, Crimea and parts of Russia where thousands suffered power cuts
Several parts of Russia, the Black Sea and the Crimean peninsula came under drone attacks from Ukraine in the early hours on Monday, officials said as the strikes disturbed air traffic operations over Moscow’s two major airports. The Russian air defence systems destroyed four Ukraine-launched drones over the northwestern part of the Black Sea and over the Crimean peninsula, its defence ministry said on Monday. Another four drones were destroyed over Russia’s bordering cities Kursk and Belgorod, the ministry said in a separate post. The officials did not immediately mention any damage or injuries as a result of the reported attacks. Russia’s Tula region also came under drone attack in the early hours of Monday as the country engaged its air defence systems to repel strikes, officials said. The air defence was activated over the region bordering Moscow to its north, reported Russian news agency RIA. According to preliminary information, no damage or injuries were reported as a result of the attack, the Russian ministry of regional security said. The latest morning attacks caused limitation of air traffic as two of Moscow’s major airports – the Vnukovo and Domedovo – trimmed down operations on Monday. Flights flying into these airports were redirected to other airports, the Tass state news agency reported. A Russian city located right after like Bryansk and Kursk, cities that border Ukraine, Tula has witnessed increasing attacks and power outages recently. In late August, the Russian defence ministry claimed its air defences destroyed two drones over the city, but did not provide further details on the damage and casualties from the interception, if any. It also did not share any precise time and location of the attack. Last week, a loud explosion rocked the Russian city and was followed by a major power outage affecting thousands of people in a district. Local residents reported hearing sounds of an explosion in the vicinity right before the lights went out in Zarechensky district. Around 5,000 residents in the district suffered power outages, RIA reported. However, a Russian official said the two incidents of explosion and power outages were not related. The power blackout was caused by technical failure and not related to any sounds of an explosion, the Russian emergency situations ministry had claimed on Thursday. It also rejected the noise heard by residents to be of explosions and speculated it was caused by an aircraft’s transition to “supersonic speed”. The ministry said work to restore power supply to the Zarechensky “will be completed in the near future”. Read More Ukraine-Russia war – live: Drone attack south of Moscow after two killed in Kherson shelling Russia ‘weaponised food and deliberately caused starvation’ in Ukraine Rishi Sunak poised to delay northern phase of troubled HS2 rail link by up to 7 years India had been riding a geopolitical high. But it comes to the UN with a mess on its hands A Kremlin critic was transferred to a Siberian prison and placed in a 'punishment cell,' lawyer says
2023-09-25 15:58
Chandrayaan-3: Hopes of Moon lander reawakening dim as India awaits signal
Scientists tell the BBC that chances of of the lander's reawakening are "dimming with each passing hour".
2023-09-25 15:50
Amazon to Invest as Much as $4 Billion in AI Startup Anthropic
Amazon.com Inc. will invest as much as $4 billion in Anthropic, bagging a crucial partner in its effort
2023-09-25 15:50
Capcom shares lunge 6% on 'Monster Hunter' mobile launch
By Sam Nussey TOKYO Japanese video game company Capcom enjoyed a 6% jump in its stock price on
2023-09-25 15:48
Expend4bles director hints at fifth movie
Expend4bles director Scott Waugh has hinted there's a good chance the action franchise will return for a fifth installment without leading man Sylvester Stallone
2023-09-25 15:29
Ozzy Osbourne wanted to be Slipknot's 10th member
Slipknot frontman Corey Taylor has recalled his first meeting with rock legend Ozzy Osbourne - revealing the Black Sabbath star asked if he could join the masked band as their 10th member
2023-09-25 15:28
