MADRID: Spain’s top soccer clubs including Real Madrid and Barcelona would get lucrative cash infusions under a proposed 2.7 billion euros ($3.2 billion) deal between the country’s top league and a private equity firm.
The deal sparked a bout of transfer speculation in local media, including that it could help finance eyecatching moves such as top France striker Kylian Mbappe joining Real Madrid, though La Liga said the funds would mostly be for investment purposes to which it would have to agree.
La Liga said on Wednesday it had agreed in principle a “multipronged” deal with CVC including the 2.7 billion euros cash infusion in return for 10 percent of its revenue, as well as the creation of a newly formed company housing a range of commercial activities in which CVC would also take a 10 percent stake.
The deal values La Liga at around 24.2 billion euros in total and, if approved, will fund what it called “structural improvements” while offsetting some of the immediate impact from COVID-19, the league said in a statement.
The cash influx would be particularly welcome to Real Madrid and Barcelona which have lately faced unfamiliar constraints on their spending power, but how much of it leaks out into transfer fees and player wages remains to be seen.
Local media reports suggested the injection could help Barca resolve star forward Lionel Messi’s contract situation, while it was also suggested that the cash could prove pivotal in Real’s reported pursuit of Paris St. Germain’s Mbappe.
Importantly the stake sale still requires approval from the league’s executive committee and clubs, whose views have not yet been given. La Liga said the funds would be distributed on the basis of a formula derived from average audiovisual revenues over the last seven years, when La Liga started commercializing rights as a collective — implying the top two would get the biggest chunks.
Barca declined to comment when contacted by Reuters about the deal. Real did not immediately respond to request for comment.
CVC was part of a consortium last year which entered talks to buy a stake in the media business of Italy’s top soccer league, but the deal fell through following objections from some clubs.
La Liga said some 90 percent of the funds raised will be channeled directly to clubs, which would have to use the cash to finance investment programs agreed with the league. It didn’t say how long the CVC deal would last.
Faced with the end of a cycle of rapid growth in the value of TV rights — and pummeled by a year of next to zero ticket sales due to restrictions on crowds — soccer leagues and clubs not just in Spain are scrambling to find alternative sources of revenue.
The failure of an attempt earlier this year by 12 of Europe’s biggest clubs to set up a breakaway Super League ratcheted up pressure on the top clubs.
Under the terms of the deal, La Liga would set up a new company to house commercial elements, such as sponsorship deals, the league’s technology arm La Liga Tech and their joint US venture — including plans to stage a league match in the United States — in which CVC would take a tenth.
It didn’t say what structural improvements it envisaged but these could relate to stadium and training facilities.
Management of the league’s sporting responsibilities and its audiovisual rights business would remain outside the scope of the transaction, La Liga said. “When it comes to the rights strategy and sales, this will continue to be handled by La Liga,” a spokesperson said.
With the boost from the investment, the Spanish league hopes to match or exceed the English Premier League’s business in the next six to seven years, a source close to La Liga added.
For CVC, which used to own Formula One, the deal would add to its interests in sport. It agreed in March to invest 365 million pounds for a share in rugby union’s Six Nations tournament, grouping France, Ireland, England, Scotland, Wales and Italy.
Spain’s top soccer clubs to get cash boost from $3.2 bln La Liga deal
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Spain’s top soccer clubs to get cash boost from $3.2 bln La Liga deal
- The deal sparked a bout of transfer speculation in local media as it could help finance eyecatching moves
- La Liga said on Wednesday it had agreed in principle a "multipronged" deal with CVC
Pakistan to announce T20 squad for England, Ireland series today as World Cup looms
- Pakistan will face Ireland in three T20Is from May 10-14, England in four T20Is from May 22-30
- Pakistan will use both series to prepare for ICC Men’s T20 World Cup 2024 slated for June 2024
ISLAMABAD: The Pakistan Cricket Board (PCB) said it would announce the national T20 squad for Pakistan’s upcoming away series against Ireland and England today, Thursday, with exactly a month to go before the T20 World Cup kicks off in June.
Pakistan will play three T20Is against Ireland in Dublin from May 12-14 before they take on 2022 World Champions England from May 22-30 in a four-match series.
The series will be an important one for Pakistan and England as both prepare for the T20 World Cup scheduled to kick off from June 2 in the US and West Indies. Pakistan’s matches against England will be played at Leeds, Birmingham, Cardiff and The Oval.
“The Pakistan Cricket Board will hold a media conference at the Qaddafi Stadium in Lahore on Thursday to announce Pakistan men’s cricket team for the tours of Ireland and England,” the PCB said in a press release.
The announcement will be made by the Men’s National Selection Committee at 11:15 a.m., the board said.
Skipper Babar Azam’s side last week won their fifth T20 match against New Zealand in Lahore by nine runs to draw the series 2-2.
Pakistan will begin their campaign for the T20 World Cup against the United States on June 6 before facing India in New York for a high-voltage clash.
Schedule for Ireland, England series:
10 May – v Ireland, 1st T20I, Dublin
12 May – v Ireland, 2nd T20, Dublin
14 May – v Ireland, 3rd T20I, Dublin
22 May – v England, 1st T20I, Leeds
25 May – v England, 2nd T20I, Birmingham
28 May – v England 3rd T20I, Cardiff
30 May – v England, 4th T20I, The Oval
Fuellkrug outshines Mbappe to hand Dortmund Champions League advantage over PSG
- Dortmund, who had already lost and drawn against PSG this season in the group stage, can continue to dream of a return to Wembley 11 years after their last Champions League final
- Dortmund manager Edin Terzic said pre-match PSG were “built to win the Champions League” since the Qatari takeover a decade ago
DORTMUND, Germany: Niclas Fuellkrug gave Borussia Dortmund a 1-0 win over Paris Saint-Germain in their Champions League semifinal first leg on Wednesday as the journeyman striker outshone superstar Kylian Mbappe on the night.
Seeking a return to the final for the first time since 2013, the 1997 winners were dogged and determined, outmuscling their heavily favored opponents in front of more than 80,000 fans.
Fuellkrug, playing in his first Champions League season at the age of 31, collected a lofted pass from center-back Nico Schlotterbeck in the 36th minute and blasted a low shot into the left corner of the net.
PSG, led by Kylian Mbappe, hit the post twice in quick succession early in the second-half but could not break through.
“I think we today showed a classic team performance. Each helped the other to win the game. We needed a bit of luck a couple of times, but we can be very satisfied with our performance,” said long-serving center-back Mats Hummels.
“It was a very satisfying, very grown-up performance from us.”
Dortmund, who had already lost and drawn against PSG this season in the group stage, can continue to dream of a return to Wembley 11 years after their last Champions League final.
Despite the setback, however, PSG will remain confident of overturning the deficit at home next week against a side they thoroughly outclassed at their home venue in September.
“The Parc (PSG’s stadium) and our supporters are giving us hope for the second leg, and we know we can do much better,” PSG captain Marquinhos told Canal.
Dortmund manager Edin Terzic said pre-match PSG were “built to win the Champions League” since the Qatari takeover a decade ago.
Nowhere was the contrast between the two clubs greater than PSG’s global superstar Mbappe, playing in his last season for his hometown club, and journeyman Dortmund striker Fuellkrug, who was playing second-division football this time two years ago.
Spurred on by a passionate home crowd who booed and whistled every Mbappe touch, Dortmund had the best of the opening stages, Jadon Sancho shining down the right flank.
Marcel Sabitzer had Dortmund’s best chance of an opener after 14 minutes, blasting straight at Gianluigi Donnarumma from a tight angle.
The opener came after 36 minutes thanks to some superb old-school forward play from Fuellkrug.
Center-back Schlotterbeck had the ball well in his own half and thought about a safe pass back to the ‘keeper but instead punted it forward, with only Fuellkrug aware of the idea.
The striker controlled the ball with one touch and drilled a low shot past a helpless Donnarumma.
Fresh from wrapping up the Ligue 1 title at the weekend, PSG had few chances despite their attacking riches in the opening half, registering zero shots on target.
The visitors however sprung to life after half-time, Mbappe rattling the inside of one post seconds before former Dortmund wing-back Achraf Hakimi rattled the inside of the other.
PSG should have equalized after 56 minutes, Marquinhos curled a beautiful pass through a crowded Dortmund box but Fabian Ruiz’s diving header went wide.
Another former Dortmund player Ousmane Dembele blasted over right in front of goal with 10 minutes remaining.
The impressive Sancho laid on an excellent pass for Julian Brandt with moments left but Dortmund’s hopes of a second were snuffed out by some desperate PSG defending.
The victory, along with Tuesday’s 2-2 draw between Bayern Munich and Real Madrid in the other semifinal, guarantees Germany rather than England or France an extra Champions League place for next season.
That has already secured Dortmund’s place in the competition next season.
$2m Saudi Smash opens in Jeddah
- World’s best table tennis players set to battle it out over 11 days
- Singapore’s Quek Izaac, Sweden’s Filippa Bergand secure first round wins
JEDDAH: Top players from around the world are taking part in the Saudi Smash table tennis event that got underway on Wednesday at King Abdullah Sports City in Jeddah.
This is the first World Table Tennis Championship event to be held in the Kingdom and there are big prizes up for grabs over the next 11 days.
The singles events open with a qualifying stage, which run until Friday and will see 64 men and 64 women — several of them Saudis — competing for eight spots in the main draw. They will then join 56 of the world’s top male and female players in the main event, which starts on Saturday.
There is a total prize pot of $2 million on offer, with the winners of the men’s and women’s singles events also picking up $65,000 and 2,000 world ranking points.
Singapore’s Quek Izaac got off to a flying start in the men’s singles on Wednesday, beating the No. 6 qualifying seed Sathiyan Gnanasekaran from India 3-1 (11-8, 8-11, 11-8, 13-11).
Quek reached the last 16 in last year’s Smash in his home country.
In the women’s singles, Sweden’s Filippa Bergand fought back from two games down to defeat India’s Archana Girish Kamath 3-1 (3-11, 3-11, 11-5, 11-7, 11-9).
Two-time defending champion Alcaraz crashes out in Madrid
- Rublev, the world number eight from Russia, came through 4-6, 6-3, 6-2, handing the third-ranked Alcaraz his first defeat on Spanish clay in 25 matches
- Rublev will face either Taylor Fritz of the United States or Argentina’s Francisco Cerundolo for a place in the final
MADRID: Two-time defending champion Carlos Alcaraz was sent crashing out of the Madrid Open on Wednesday as Andrey Rublev triumphed in their quarter-final clash.
Rublev, the world number eight from Russia, came through 4-6, 6-3, 6-2, handing the third-ranked Alcaraz his first defeat on Spanish clay in 25 matches.
Rublev will face either Taylor Fritz of the United States or Argentina’s Francisco Cerundolo for a place in the final.
Alcaraz, who was forced to sit out clay court events in Monte Carlo and Barcelona due to a right arm injury, had been in control in the first set.
However, 26-year-old Rublev battled back with Alcaraz looking increasingly weary as the tie progressed in chilly conditions in the Spanish capital and with the roof closed on the Manolo Santana Stadium.
Rublev carved out breaks in the first and fifth games of the decider and celebrated victory when the 20-year-old two-time major winner dumped a tired return into the net.
The Russian clubbed 30 winners as Alcaraz appeared physically spent following his three-set win over Jan-Lennard Struff on Tuesday in a last 16-tie which stretched to almost three hours.
Chelsea working to understand injury woes, says Pochettino
- Defenders Thiago Silva and Axel Disasi are the latest additions to the list since Saturday’s 2-2 draw with Aston Villa
- “Too many circumstances have happened,” Pochettino said on the eve of Chelsea’s match against his former club, who are in fifth spot in the table
LONDON: Mauricio Pochettino says Chelsea’s medical and coaching staff are trying to work out why the club have been so badly plagued by injuries, with as many as 14 players likely to be missing for Thursday’s visit of Tottenham.
Defenders Thiago Silva and Axel Disasi are the latest additions to the list since Saturday’s 2-2 draw with Aston Villa, in which the Chelsea boss was forced to name five academy graduates aged 20 and under on the bench.
The Blues’ campaign has been badly disrupted by the unavailability of players, including several acquired at huge expense as part of a £1 billion ($1.25 billion) transfer spree over the past two years.
Notable absentees include Wesley Fofana, who has not played all season after undergoing surgery on an ACL injury, and forward Christopher Nkunku, who has been limited to seven Premier League appearances.
Romeo Lavia has played only once for the club while Reece James and Ben Chilwell have also had lengthy spells out of the side, who are in mid-table.
Last week it was confirmed that Enzo Fernandez, signed for a then-British record £105 million in January 2023, will not play again this season following a hernia operation.
“Too many circumstances have happened,” Pochettino said on the eve of Chelsea’s match against his former club, who are in fifth spot in the table.
“It’s difficult to explain with one word or in one sentence. Of course we are working on trying to improve. We have an amazing staff — medical staff, coaching staff. They have experience in managing clubs and being in this business.
“When some circumstances arrive, sometimes it can happen. We need to now, until the end of the season, put all the information on the table and try to be better next season.
“We need to improve in communication, dynamics, strategy. Everything to do with our knowledge to improve and coordinate better.”
Pochettino paid tribute to veteran Brazilian defender Silva, 39, who is leaving the club at the end of the season after a four-year stay.
“He’s an amazing guy and amazing professional,” said Pochettino. “Playing until nearly 40 years old is an amazing career.
“Of course, the players, the fans and club are going to miss him. But he’s happy, he’s so proud of his career here at Chelsea. We wish him the best because he deserves the best.”
