Real Madrid sign deal worth $380m for Santiago Bernabeu management

Real Madrid sign deal worth $380m for Santiago Bernabeu management
Real Madrid FC announced on Thursday it has signed a stadium management deal for the Santiago Bernabeu worth €360 million ($381 million). (File/Reuters)
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Updated 20 May 2022

Real Madrid sign deal worth $380m for Santiago Bernabeu management

Real Madrid sign deal worth $380m for Santiago Bernabeu management
  • The deal with the US-based companies comes with Madrid close to signing Paris Saint-Germain forward Kylian Mbappe, who would arrive as a free agent but command a club-record salary
  • The Bernabeu is undergoing major renovation, getting a new roof, modern video screens and a retractable field in a project that was expected to cost close to €1 billion ($1.05 billion)

MADRID: Real Madrid have signed a stadium management deal for the Santiago Bernabeu worth €360 million ($381 million), the club said Thursday.

The agreement was reached with investment firm Sixth Street and “experiences company” Legends, which specializes in organizing sports and other events and is partly owned by Sixth Street.

The deal with the US-based companies comes with Madrid close to signing Paris Saint-Germain forward Kylian Mbappe, who would arrive as a free agent but command a club-record salary. One of soccer’s top stars, the 23-year-old Mbappe’s contract with PSG expires at the end of this season.

Real Madrid said the money from the deal can be invested in “any of the club’s activities.”

Madrid have not signed any top players in the last few transfer windows and currently hold the league’s highest spending limit at €739 million ($783 million).

The club this season won a record-extending 35th Spanish league title and will be looking to win a record-extending 14th European trophy when it faces Liverpool in the Champions League final on May 28 in Paris.

Sixth Street acquired the right to participate in the operation of certain new businesses of the Bernabeu for 20 years, Madrid said. The exact stake the company will have was not immediately disclosed by the club.

Legends, meanwhile, “will contribute its experience and knowledge in the operation of large stadiums and leisure centers, allowing for the optimization of the management” of the stadium.

“This alliance with Sixth Street and Legends, world leaders in their respective disciplines, will be fundamental in providing unique experiences in a stadium where multiple events can be hosted throughout the year,” Madrid said in a statement. “This agreement strengthens our goal of continuing to significantly increase the stadium’s revenues from both sporting and other types of events.”

Sixth Street said it manages over $60 billion in assets globally and is also linked to the San Antonio Spurs in the NBA, as well as to Airbnb and Spotify. Last year it invested a majority stake in Legends, which was formed in 2008 by affiliates of the New York Yankees and the Dallas Cowboys.

“Real Madrid’s Santiago Bernabeu is hallowed ground in the world of football, and we are honored to be joining this partnership to invest in the innovative, long-term strategic vision that has guided the club’s consistent success over its storied history,” said Alan Waxman, co-founder and CEO of Sixth Street.

The Bernabeu is undergoing major renovation, getting a new roof, modern video screens and a retractable field in a project that was expected to cost close to €1 billion ($1.05 billion). The goal was to have it completed by the end of the year. Last season, the team played at the small Alfredo Di Stefano Stadium at the club’s training center. The renovation work was expedited as fans were not allowed because of the coronavirus pandemic.

Madrid rival Barcelona will also renovate their Camp Nou Stadium. It recently reached a naming rights deal for the venue with streaming company Spotify believed to be worth €400 million ($424 million) over 12 seasons.

Barcelona and Madrid did not join in the Spanish league’s deal with private equity firm CVC, which will bring in about €2 billion ($2.1 billion) in investment to Spanish clubs. They say the deal gives too much power to CVC over the clubs’ television rights deals for the next five decades.


Edoardo Mortara wins Marrakesh E-Prix in round 10 of the ABB FIA Formula E World Championship

Edoardo Mortara wins Marrakesh E-Prix in round 10 of the ABB FIA Formula E World Championship
Updated 03 July 2022

Edoardo Mortara wins Marrakesh E-Prix in round 10 of the ABB FIA Formula E World Championship

Edoardo Mortara wins Marrakesh E-Prix in round 10 of the ABB FIA Formula E World Championship
  • Antonio Felix da Costa finished in second place, with Mitch Evans third
  • ROKiT Venturi Racing driver Mortara tops podium for the third time this season with victory in Marrakesh, and takes lead in drivers’ championship

MARRAKESH: Edoardo Mortara hit the top of the Drivers’ World Championship with victory in the Marrakesh E-Prix round 10 as the ROKiT Venturi Racing driver fended off pressure from DS TECHEETAH teammates Antonio Felix da Costa and Jean-Eric Vergne throughout.

Da Costa started on pole position and, after falling behind Mortara during the early stages, he clung to the back of the Swiss driver’s car as the race reached its climax. But the Season 6 champion couldn’t make it past the Venturi driver who remained unflustered on the way to the top step and his third win of the season, as well as the standings lead.

“I must admit after Free Practice 2, we had a lot of issues and I was not thinking we could turn this thing around, but I have an incredible team behind me and they managed to do an incredible job already in quali,” said Mortara. “Then during the race, they had a plan, they had a strategy, we executed it and it was perfect.”

“You have the guys putting you under a lot of pressure. I was trying to be intelligent, trying to manage,” he said. “There was a lot to manage today — tires obviously, but also battery temperatures, energy. It was very difficult. I had some issues with the car today, I was a little bit by myself, let’s say, but we did that and I’m extremely happy.”

Mercedes-EQ’s Stoffel Vandoorne was top of the Drivers’ World Championship going into the race but a braking glitch in qualifying left him down in 20th on the grid. He recovered to finish eighth but with just four points on the day, Mortara stands tall at the end of Round 10 of the ABB FIA Formula E World Championship.

Vergne had found himself in second heading into the closing stages with 2 percent of usable energy available before he slipped back behind da Costa to an eventual fourth position. Fellow title challenger Mitch Evans (Jaguar TCS Racing) fought from sixth on the grid to the podium with a final lap lunge on Vergne for silverware and a handful of extra, crucial World Championship points.

In the searing 33-degree heat, drivers and engineers elected to jump early for their two mandatory Attack Mode boosts with the school of thought being that it would be more efficient and effective in the long run to ply that extra 30kW through the batteries and powertrain. In the mix was Lucas di Grassi (ROKiT Venturi Racing), who battled to fifth and vital points for the Monegasque team.

Reigning World Champion Nyck de Vries (Mercedes-EQ) clambered to sixth and Jake Dennis (Avalanche Andretti) would have to settle for seventh. Vandoorne did make up an impressive 12 spots to finish eighth in the end after his qualifying disappointment. Sam Bird wound up ninth for Jaguar TCS Racing, and Oliver Rowland — who ran as high as second spot early on — rounded out the points-paying positions in 10th.

All that saw Mortara jump to an 11-point Drivers’ World Championship lead, with Vergne second and Vandoorne now third, having led heading into this Marrakesh E-Prix race weekend. Evans finds himself just 15 points shy of Mortara, with the top four breaking well clear of the chasing pack to set up a four-driver shootout over the final six races.

Next time out is the New York City E-Prix on July 16 to July 17 for rounds 11 and 12 of the ABB FIA Formula E World Championship. The much-anticipated double-header takes place on the streets of the Red Hook district of Brooklyn against the spectacular backdrop of the Manhattan skyline. 

Two more double-headers close out Season 8, with the London E-Prix weekend on July 30 to July 31 before the championship climaxes with a first visit to Korea and the Seoul E-Prix weekend on Aug. 13 to Aug. 14.


Riyadh to host Italian Super Cup between Inter and AC Milan next year

Riyadh to host Italian Super Cup between Inter and AC Milan next year
Updated 03 July 2022

Riyadh to host Italian Super Cup between Inter and AC Milan next year

Riyadh to host Italian Super Cup between Inter and AC Milan next year
  • The showpiece match between Italy’s league and cup winners was last held in Saudi Arabia in 2019

The Italian Super Cup match between league champions AC Milan and cup winners Inter is set to take place in Riyadh on Jan. 18, 2023, Italy’s national professional league, Serie A, has confirmed.

No stadium has yet been assigned for the return of the showpiece match to Saudi Arabia.

The Italian Super Cup, or Supercoppa Italiana, has often been played abroad and was last hosted outside of Italy in Riyadh in 2019, when Lazio beat Juventus 3-1 at the King Saud University Stadium.

The competition has for the last two years taken place on home soil due to COVID-19 restrictions, with Juventus beating Napoli 2-0 in Reggio Emilia in 2020 and Inter beating Juventus 2-1 last year at Milan’s San Siro Stadium.

 


Saudi Arabia to play France, Poland and Slovenia at 2023 Handball World Championship

Saudi Arabia to play France, Poland and Slovenia at 2023 Handball World Championship
Updated 03 July 2022

Saudi Arabia to play France, Poland and Slovenia at 2023 Handball World Championship

Saudi Arabia to play France, Poland and Slovenia at 2023 Handball World Championship
  • The Saudi team has faced all three Group B opponents in previous competitions

The draw for the 2023 IHF Men’s World Championship on Saturday placed Saudi Arabia’s handball national team in Group B alongside France, Slovenia and co-hosts Poland.

The tournament, organized by Sweden and Poland, will run from Jan. 12 to Jan. 29 in 2023.

The Saudi team has faced all three rivals in previous versions of the competition, having twice taken on Slovenia and Poland, while facing France once.

The first meeting against Slovenia was in 2001, ending in a 35-22 defeat for Saudi Arabia, while the second meeting in 2013 resulted in a 32-22 loss.

In 2003, Saudi Arabia faced France for the first time, in a match that ended in a 33-22 loss for the Green Falcons.

Poland, too, have won both of their encounters with Saudi Arabia — with a result of 28-14 in 2013, and 32-13 in 2015.

This will be the 10th time the Saudi national team has taken part in this competition, with the first of nine previous participations taking place in 1997, and the last in 2019. The team’s highest position was 10th in the 2003 competition played in Portugal.


UAE jiu-jitsu clubs top medals table as AJP Tour Fujiarah International Pro Championship kicks off

UAE jiu-jitsu clubs top medals table as AJP Tour Fujiarah International Pro Championship kicks off
Updated 03 July 2022

UAE jiu-jitsu clubs top medals table as AJP Tour Fujiarah International Pro Championship kicks off

UAE jiu-jitsu clubs top medals table as AJP Tour Fujiarah International Pro Championship kicks off
  • Commando Group took the top position on day one, with AFNT and Sharjah Self-Defense Sports Club in second and third place

FUJAIRAH: The AJP Tour Fujairah International Pro Championship kicked off at Zayed Sports Complex on Saturday with stellar performances from Emirati fighters in the teens, youth, and men’s masters categories.

Commando Group came in first on the opening day of the championship while AFNT and Sharjah Self-Defense Sports Club took second and third places respectively.

About 800 athletes from 50 countries are competing in the championship, which is organized by the UAE Jiu-Jitsu Federation in partnership with AJP. The first day’s competitions were held across seven mats with the top finisher in each category receiving 600 ranking points under the AJP-approved ranking.

The AJP Tour Fujairah International Pro Championship is the third event of the AJP Championships, which consists of five legs held in different regions of the country.  The opening day saw the UAE take first place in the country rankings, ahead of Colombia and Brazil.

Dr. Thani bin Ahmed Al-Zeyoudi, minister of state for foreign trade, was presented with two commemorative shields at the event by the UAEJJF and the Fujairah Martial Arts Club in appreciation of his support for jiu-jitsu and other martial arts competitions.

“The UAE continues to excel and solidify its position as a home for jiu-jitsu,” Al-Zeyoudi said. “The strongest evidence of our country’s excellence in hosting and managing the largest sporting events and championships is the fantastic performance we saw in the Zayed Sports Complex today and the great response by the public to the competitions.”

Mohammed Salem Al-Dhaheri, on behalf of the board of directors of the federation, extended his thanks to Sheikh Mohammed bin Hamad Al-Sharqi, crown prince of Fujairah, for his support for jiu-jitsu.

“The biggest assurance for the tournament’s success and achievements was his highness’ support,” he said. “The primary tenet of the nation’s leadership in this sport on a global scale is the support of our wise leadership.”


Ronaldo wants to leave Man United — reports

Ronaldo wants to leave Man United — reports
Updated 03 July 2022

Ronaldo wants to leave Man United — reports

Ronaldo wants to leave Man United — reports
  • United’s international players are due to report for training in the coming days ahead of flying to Thailand on Friday

LONDON: Cristiano Ronaldo wants to leave Manchester United this summer if the Premier League club receive an appropriate offer, according to multiple reports on Saturday.
The 37-year-old Portugal forward returned to Old Trafford from Juventus last summer but despite being United’s top scorer last season, and third in the Premier League, the campaign was overall disappointing.
United finished sixth in the Premier League, missing out on Champions League qualification, leaving the five-time Ballon d’Or winner, who has a year left on his contract plus an optional year, facing the prospect of playing in the Europa League for the first time.
Manchester United are adamant Ronaldo, who scored 24 goals in all competitions, is not for sale, according to reports, with new manager Erik ten Hag keen to work with him.
Ronaldo won three Premier League titles and the Champions League during six trophy-laden years with United before leaving for Real Madrid in 2009 and Juventus in 2018, collecting more trophies at both clubs.
United’s international players are due to report for training in the coming days ahead of flying to Thailand on Friday for the start of their pre-season tour.