Middle East money bound for Newcastle

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Amanda Staveley is leading a group seeking to buy Newcastle from Mike Ashley. (Shutterstock)
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Updated 15 December 2017
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Middle East money bound for Newcastle

LONDON: Newcastle United find themselves in a strange limbo but on Wednesday night, it seems, the takeover of the club by the Dubai-based PCP Capital Partners Middle Eastern investment fund took a significant step forward. It is a saga that had dragged on for so long, that many fans had begun to lose hope of the takeover happening at all; after all, it wouldn’t be the first time their owner Mike Ashley had prevaricated on a deal with the result that the potential buyers had drifted off.
The whole season has been played out in the shadow of the takeover. Newcastle are battling in the Premier League with a Championship squad, with Ashley understandably reluctant to invest in players for the benefit of a new owner. Even with Amanda Staveley, the financer fronting the deal, increasing her offer to a reported £300 million ($400 million) on Wednesday, though, it is unlikely any resolution will be swift and it could be late January or even February before the takeover is completed. That would be too late for the January transfer window, which could have serious consequences for the club in terms of avoiding relegation. Exactly who is backing the fund remains unclear, although it is thought the main driver is from the Arabian Gulf. Newcastle fans won’t care.
After a decade of battling Ashley and his cost-cutting and crassness, there’s a sense that almost any owner is better than the one they have. It is, of course, nothing new for Premier League clubs to be under foreign ownership. Only seven of the 20 clubs are majority-owned by British concerns.
The Premier League is increasingly a global league that happens to be hosted by England (and Wales). Newcastle will look at the last deal Staveley fronted — Sheikh Mansour’s takeover of Manchester City in 2009 — and feel a surge of optimism. Whatever dark mutterings there may have been about City buying success (as though every successful club in the past 40 years or so of English football didn’t in part owe its position to economic advantages), or Mansour’s reasons for investing in English football — it would be naïve to believe he has done it solely because he enjoys the game, or because he believes it will secure a healthy return on investment — the result has been a team playing the best football in the world at the moment.
You do not have to be a City fan to see his ownership of the club as a positive, and that is without even considering all the investment that has gone on to redevelop what had been a run-down area of east Manchester.
The general perception of the Qatari investment in PSG is rather less positive. They too have played some thrilling attacking football this season, breaking the Champions League group stage goalscoring record.
The signings of Neymar and Kylian Mbappe, though, were so brash and created such an imbalance in the squad that it was hard to interpret them as having been made for purely football reasons; rather this was a display of financial muscle, a slightly vulgar expression of soft power that, frankly, made a mockery of Financial Fair Play regulations. Everton, meanwhile, serve as a cautionary tale closer to home for Newcastle of Middle-Eastern investment and what can go wrong when money is sent without a plan.
While PSG will almost certainly win Ligue 1 and should be challengers for the Champions League, Everton, after a summer in which they spent €158 million (albeit recouping €107.4 million), found relegation such a threat they were forced to part company with Ronaldo Koeman and appoint Sam Allardyce, a step that has driven them up the table but is hardly the move of a progressive club building for an exciting future. It’s a familiar theme. Success in football is almost impossible without money but money in and of itself is not sufficient to bring success. Squads must be blended with care and attention. It has taken City eight years to get to this stage, appointing former Barcelona executives to entice Pep Guardiola and then buying him the players he needed.
Staveley’s takeover, if it goes ahead, will solve only one of Newcastle’s problems, that of Ashley. Beyond that, it’s an opportunity, and one that will increase the influence of the Middle East in European football.
 


Embiid returns to help 76ers beat Nets for 3-1 lead

Updated 21 April 2019
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Embiid returns to help 76ers beat Nets for 3-1 lead

  • The 76ers seized a 3-1 lead in the first-round series against the Nets

NEW YORK: Philadelphia’s Joel Embiid returned from injury to score a game-high 31 points and grab 16 rebounds, powering the 76ers to a 112-108 NBA playoff victory at Brooklyn on Saturday.
Despite a third-quarter incident that saw two players ejected, the 76ers seized a 3-1 lead in the first-round series against the Nets and could advance in the Eastern Conference best-of-seven matchup with a home victory Tuesday.
In the other Eastern Conference game, Khris Middleton finished with 20 points and nine rebounds as the top-seeded Milwaukee Bucks put the Detroit Pistons on the brink of elimination with a 119-103 win. The victory give the Bucks a 3-0 lead and they can wrap up the series with a win on the road in the Motor City on Monday.
Philadelphia, down by 10 points early in the third quarter, battled back most of the second half before taking the lead on a run of eight points by Embiid, who missed game three with a sore left knee.
A slam dunk and layup by Embiid gave the 76ers their first late lead at 102-101 but, after an exchange of layups and three-pointers as well as turnovers, fell behind 108-107 on a basket by Brooklyn’s Joe Harris with 25 seconds remaining.
On the next 76er possession, Embiid flipped the last of his seven assists to Mike Scott, whose corner three-pointer put Philadelphia ahead to stay 110-108 with 19 seconds remaining.
Australian Ben Simmons — who added 15 points, eight rebounds and eight assists for the 76ers — stole the ball from Brooklyn’s Jarett Allen and Tobias Harris sank two free throws for the last of his 24 points to clinch the triumph.
Caris LeVert led the Nets with 25 points while Brooklyn had 21 points each from Allen and D’Angelo Russell.
Cameroon star center Embiid was issued a flagrant foul in touching off an altercation 4:18 into the third quarter that saw Philadelphia’s Jimmy Butler Brooklyn’s Jared Dudley ejected. Embiid, who had elbowed Allen in the face in game two, was whistled for a hard foul on Allen that prompted Dudley to rush at Embiid, taking down the Sixers big man. Butler swung his left arm at Dudley, who wound up in the front row seats with Simmons at one stage, to earn his ejection.
In Detroit, Brook Lopez tallied 19 points and had seven rebounds and five blocked shots and Eric Bledsoe scored 19 points for the Bucks.
Giannis Antetokounmpo delivered 14 points and 10 rebounds for his third straight double-double in the series and Nikola Mirotic chipped in 12 points.
Detroit’s hobbled star Blake Griffin had 27 points in 31 minutes after he missed the first two games of the series with a sore knee.
Griffin was cleared with his leg heavily wrapped but it didn’t change the outcome.
The Pistons have now lost 13 straight playoff games dating back to 2008. In the Western Conference, the Denver Nuggets — led by game highs of 29 points, 12 rebounds and eight assists from Serbian playmaker Nikola Jokic — pulled level with San Antonio at 2-2 in their opening series with a 117-103 road triumph over the Spurs.