Egyptian billionaire acquires stake in English football club

Nassef Sawiris is ranked 251st in the world's rich list. (AFP)
Updated 20 July 2018
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Egyptian billionaire acquires stake in English football club

LONDON: Egyptian billionaire Nassef Sawiris is behind a bid to invest in English football club Aston Villa, the club announced on Friday.
Sawiris is ranked at No.251 in the world’s rich list and is estimated to be worth $4 billion by Forbes. He has joined forces with Wes Edens, the co-owner of NBA’s Milwaukee Bucks, to make a “significant investment” in Villa, the Midlands club who play in the second tier of English football.

They have won the league title seven times and the European Cup in 1982, but have fallen on hards times in recent years, ending a sequence of 105 seasons in the top tier of English football with relegation in 2016.

Villa owner Tony Xia spent the close-season searching for fresh investment to plug a reported £40 million ($52.45 million) deficit after Villa were beaten by Fulham in the Championship playoff final last season.
He had entered talks to hand over some of his control of Villa to Sawiris and Edens' company NSWE in exchange for a cash injection.

“I am extremely pleased to have formed a strategic partnership with Nassef and Wes,” Villa owner Dr. Xia said in a club statement. “We have a common goal of delivering future success for Aston Villa and I look forward to working together to achieve this aim.
“To have come so close to achieving promotion last season was a humbling experience. In finding such strong partners as Nassef and Wes we’re gearing up to fight again and bring back the success that this Club deserves and we all so want to provide it with.”
One of three brothers, Nassef’s family’s net worth is put at $36 billion by Forbes and he is said to be the richest Egyptian in the world. He built his fortune in telecom and has a stake in Adidas.


AS IT HAPPENS: Jos Buttler and Ben Stokes hold up India after tourists take early wickets at Trent Bridge

Updated 21 August 2018
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AS IT HAPPENS: Jos Buttler and Ben Stokes hold up India after tourists take early wickets at Trent Bridge

  • Another horror show for England's batsmen as tourists make early inroads in Nottingham.
  • Hosts chasing unlikely 521 for victory already four down at lunch.

AFTERNOON SESSION: England 173-4 & 161, India 329 & 352-7 dec: At last, some good news if you are an England fan, your team has won a session. 

Having seen four wickets fall quickly during the morning’s play the host knew they had to at least show some backbone and take the fight to India. 

They did this with some style, Jos Buttler (67 not out) and Ben Stokes (42 not out) playing with an ease and simplicity that seemed beyond their teammates this morning. Having lost all 10 wickets in the afternoon session on Sunday England lost none in the same period just two days later.

Prior to today Stokes and Buttler have had 11 partnerships in Test cricket and averaged just 15.9. This is their first hundred partnership and came in 195 balls.

Jos Buttler looked in fine touch out in the middle and frustrated the India attack. 

For India it was very much a case of from feast to famine. 

Virat Kohli and Co. will not be worrying though, they still have four sessions to get the six wickets they need for victory.

England went into tea on 173 for four and doubtless hoping for more of the same once back in the middle.

 

MORNING SESSION: England 84-4 & 161, India 329 & 352-7 dec: Chasing 521 England always knew victory was highly unlikely, this session, this day in fact was all about being positive. Positivity in defense, positivity in decision making, basically the exact opposite of what transpired over the first two hours at Trent Bridge. Having lost all 10 wickets in a single session on Sunday it was perhaps understandable that there were a few moments of indecision out in the middle. But whether that should have resulted in four wickets falling is another matter.
Keaton Jennings was the first to go. The left-hander played and missed several times on Monday evening and early on today India finally had their man — someone who with every innings looks more and more like a walking wicket — when he edged behind of the bowling of Ishant Sharma for 13. That left the hosts on 27 for one.
As sure as night follows day, the next wicket fell soon after. Alastair Cook is currently in one of his ever more-regular lulls in terms of run scoring. The former England skipper fell the same way as Jennings, caught behind off Ishant (two for 24) for 17. He has only one score of over 50 this year and the knives may well be out for him once this Test is over.
At the crease England had Joe Root and Ollie Pope — the present and the future of the side’s Test team runs. The pair fought well and hard, but never looked comfortable with the India attack, brilliantly led by Ishant, probing their techniques ball after ball.

Ollie Pope trudges off after a horror shot gifted India their fourth wicket of the morning. 


The order of the day would have been to hold out until lunch, but Jasprit Bumrah (one for 26) got Root (13) to prod at one outside his off-stump to be caught by KL Rahul in the slips.
62 for three soon became 62 for four as first ball of the next over Pope (16) tried to lay into a wide swinging delivery from Mohammed Shami (one for 28) only to edge to Virat Kohli at second slip.
It was just what England wanted to avoid and the dream session for the tourists.
It could have been worse, though, with Jos Buttler dropped on one. But there is little doubt that that will only extend England’s misery in the middle, and not effect the inevitable India victory.