Premier League approve Boehly’s takeover of Chelsea

Premier League approve Boehly’s takeover of Chelsea
American businessman Todd Boehly during the English Premier League match between Chelsea and Wolverhampton at Stamford Bridge, London, May 7, 2022. (AP Photo)
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Updated 24 May 2022

Premier League approve Boehly’s takeover of Chelsea

Premier League approve Boehly’s takeover of Chelsea
  • A consortium led by Todd Boehly, a co-owner of baseball’s Los Angeles Dodgers, had already agreed a record £4.25bn deal to buy the club from Roman Abramovich
  • Russian billionaire Abramovich put Chelsea on the market just before he was sanctioned by the British government following Russia’s invasion of Ukraine

LONDON: Todd Boehly’s proposed takeover of Chelsea moved a step closer to completion on Tuesday when the Premier League board announced it had approved his purchase of the London club in a deal that could yet be finalized later in the day.
A consortium led by Boehly, a co-owner of baseball’s Los Angeles Dodgers, had already agreed a record £4.25 billion ($5.3 billion) deal to buy the Premier League club from owner Roman Abramovich on May 7.
And a Premier League statement said Tuesday: “The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.
“The purchase remains subject to the (British) Government issuing the required sale license and the satisfactory completion of the final stages of the transaction.”
Officials would like everything to be wrapped up on Tuesday so Chelsea can meet all registration deadlines for next season’s competitions, with an unnamed Government source telling Britain’s Press Association: “We now believe everyone will be ready to issue the necessary licenses.
“The last remaining hurdle boils down to a number of final technical details that are being discussed with the club. It’s going to go down to the wire.”
Russian billionaire Abramovich put Chelsea on the market in early March, just before he was sanctioned by the British government following Russia’s invasion of Ukraine.
Completing the purchase has been a lengthy process due to government concerns over the potential for Abramovich to profit from the sale.
The total value of the deal smashes the previous record for the sale of a sports team — $2.4 billion for the New York Mets baseball franchise in 2020.
There had been fears the takeover would collapse because of the £1.5 billion debt owed by Chelsea’s parent company, Fordstam Ltd, to Camberley International Investments, a Jersey-based company with suspected links to Abramovich.
Abramovich, who has said he has not asked for his loan to be repaid, is understood to have provided confirmation to the government that his associate, Demetris Ioannides, has resigned from the trust owning Camberley International.
Earlier on Tuesday, a spokesman for Prime Minister Boris Johnson confirmed the government were working with Chelsea and also holding “intense discussions with the relevant international partners” to get the deal done.
“We want to get this process done as soon as possible while also ensuring the sanctions regime is protected, but we will say more on this as soon as we possibly can,” the spokesman also said.
The Premier League statement added: “The board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective directors, and undertaken the necessary due diligence.
“The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.
“Chelsea FC will now work with the relevant governments to secure the necessary licenses to complete the takeover.”
Chelsea have been forced to operate under a special license from the UK government since Abramovich, who bought the club in 2003, was sanctioned.
Under the terms of the license, Chelsea were unable to offer new contracts to existing players or sign players from other clubs.
The sale of the European champions brings the curtain down on 19 years of nearly unbroken success under the 55-year-old Abramovich, who has overseen five Premier League titles and two Champions League triumphs.
Chelsea finished third in the 2021/22 Premier League season completed Sunday and so gained a place in Europe’s Champions League, the continent’s leading club football competition.
The Blues also reached the finals of English football’s League Cup and FA Cup, only to lose both matches to Liverpool in penalty shoot-outs.


New European soccer clubs’ group gives voice to less wealthy

Updated 12 sec ago

New European soccer clubs’ group gives voice to less wealthy

New European soccer clubs’ group gives voice to less wealthy
GENEVA: A new group for European clubs feeling isolated in soccer politics dominated by wealthy rivals was announced Wednesday.
The Union of European Clubs is being created after an intense 18 months of debate and decisions on reforming UEFA competitions like the Champions League plus the failed Super League project that rocked the industry.
“It will be a game-changer,” law academic Katarina Pijetlovic said, revealing the new association at the Play The Game sports integrity conference in Odense, Denmark.
Set up to represent community-driven and middle- to lower-ranked clubs, the UEC shapes as an alternative to the European Club Association that has key influence with UEFA.
The goals of so-called middle-class clubs were aired by Eintracht Frankfurt leaders during the German club’s push to win the Europa League in May as UEFA finalized post-2024 revamps of club competition formats and entry paths. An unfinished debate is how to share out billions of euros (dollars) in broadcast and sponsor money among clubs across Europe.
“It is the organization that aims to gather all the clubs that for one or another reasons feel their interests are not adequately represented at European level by ECA, or that they are not represented at all,” Pijetlovic said.
The ECA has about 250 full and associate members who qualified for recent UEFA competitions but has typically been controlled by a select few storied clubs.
A group of 12 of the ECA’s then-leaders last year plotted the Super League as a direct rival to UEFA and the Champions League.
Though the breakaway collapsed within days — amid a fierce backlash from fans, governments and soccer pundits — the European Court of Justice in Luxembourg has a July 11-12 hearing that will challenge UEFA’s authority. That case is being driven by Real Madrid, Barcelona and Juventus.
“Just because clubs are richer it shouldn’t give them more say in governance,” Pijetlovic said Wednesday.
Officials involved in the new union have spoken to about 100 potential member clubs in all levels of European soccer leagues, said Pijetlovic, a lecturer at Manchester Metropolitan University in England.
Its aims include helping clubs and leagues be more professionally run and improve sporting and financial competitiveness, she said.

NEOM’S ENOWA boosting Extreme E with green hydrogen power

NEOM’S ENOWA boosting Extreme E with green hydrogen power
Updated 29 June 2022

NEOM’S ENOWA boosting Extreme E with green hydrogen power

NEOM’S ENOWA boosting Extreme E with green hydrogen power
  • Partnership comes after megacity named title partner of McLaren Formula E, Extreme E racing teams
  • Saudi Arabia has hosted the Extreme E season-opening Desert X Prix for the last two years

Extreme E has announced a multi-year relationship with ENOWA, NEOM’s energy, water and hydrogen subsidiary, to introduce green hydrogen power to the sustainable all-electric racing series.

Saudi Arabia has hosted the Extreme E season-opening Desert X Prix for the last two years.

The announcement comes just days after NEOM, a sustainable region in northwest Saudi Arabia being built from the ground up, was revealed as the title partner of the McLaren Formula E and Extreme E racing teams under the banner of “NEOM McLaren Electric Racing.”

Alejandro Agag, founder and CEO of Extreme E, said: “We are delighted to have ENOWA on board as our official Green Hydrogen Power Partner. We have collaborated with NEOM for some time, particularly in delivering a hugely successful first Desert X Prix of Season Two; this partnership with ENOWA marks a further step in our mission for a more sustainable future.

“The work undertaken by ENOWA is extremely ambitious and an exciting prospect. NEOM, much like ourselves, pushes the boundaries of environmental sustainability and we are delighted to be partnering with ENOWA to go even further in our objective to raise awareness of the climate crisis.

“ENOWA plans to lead the development of world-class sustainable energy water and hydrogen systems which I am sure will become a reference point in the future, and our series will also benefit from this greater focus on technology and innovation.”

Extreme E has become a leader in introducing sustainability in motorsports and green hydrogen is widely seen as the most promising energy carrier for the future in the fight against climate change. The technology supports the transportation of renewable energy over long distances and could spur the decarbonization of major industries and infrastructure.

By partnering, Extreme E and ENOWA aim to implement innovative green hydrogen-based technologies to not only power the championship toward a 100 percent “leave no trace” ambition, but also to showcase the opportunities offered by the technology.

ENOWA will play an active part on the scientific advisory board of Extreme E and together the partners will look to develop educational programs covering climate positive solutions aimed at younger generations.

Commenting on the relationship, Peter Terium, ENOWA CEO, said: “Business decisions in NEOM have sustainability at their core, which is why we are delighted to partner with Extreme E. Our partnership is aimed toward both creating visibility to the most urgent problems the planet is facing, but at the same time demonstrating solutions that deliver meaningful impact.

“Together we can accelerate innovations in clean technologies powered by green hydrogen, contributing to hydrogen mobility markets and the future of global decarbonization.”

NEOM is the first to produce green hydrogen at scale, paving the way for the growth of the hydrogen economy globally. Due to the abundance of solar, wind and water resources in NEOM, ENOWA and partners will provide large quantities of green hydrogen that many industries can use. ENOWA benefits from NEOM’s greenfield site — which has no legacy infrastructure — to advance energy, water, and hydrogen innovation while providing sustainable fuels like green hydrogen to international users. It shares an ethos with Extreme E in its demands for a greater sustainability focus.

At the Season Two opener of Extreme E in NEOM in February 2022, the series revealed its plans to launch an off-road hydrogen championship in 2024. Named Extreme H, the championship will sit alongside Extreme E, its existing electric racing series, and will be a world first for motorsport — further reiterating the commitment to showcasing the possibilities of new, sustainable technologies in the race to fight climate change.

Development for the Extreme H vehicle is already underway, with the aim being the launch of a prototype in early 2023.


Last World Cup tickets to go on sale next week: FIFA

Last World Cup tickets to go on sale next week: FIFA
Updated 29 June 2022

Last World Cup tickets to go on sale next week: FIFA

Last World Cup tickets to go on sale next week: FIFA
  • About 1.8 million tickets sold so far
  • Tickets to go on sale online from July 5 until August 16

DOHA: The remaining tickets for this year’s World Cup in Qatar will be available on a first-come, first-served basis from next week, FIFA said on Wednesday.
About 1.8 million tickets were sold in the first two batches of sales, FIFA said, without saying how many are now available.
Qatar will host the first World Cup in the Middle East from November 21 to December 18 at eight stadiums in and around the capital, Doha.
The latest tickets will go on sale online from July 5 at 12pm Doha time (0900 GMT) until 12pm on August 16, FIFA said in a press release.
“Huge worldwide interest is anticipated in the new sales period,” the world body said.
Officials said three million tickets are available in total, including those allocated to sponsors.
Last week, the World Cup’s chief organizer Hassan Al-Thawadi said 1.2 million tickets had been sold so far.
FIFA president Gianni Infantino said there were five million ticket requests just for the final at the 80,000-seat Lusail stadium.
Doha, with a population of about 2.4 million and limited accommodation, is bracing itself for a huge influx of visitors for the 32-team tournament.
Last month, Qatar announced scores of daily shuttle flights from neighboring Gulf countries, allowing fans to stay elsewhere and fly in to watch games.


World’s media hail Al-Hilal’s 18th Saudi Pro League title triumph

World’s media hail Al-Hilal’s 18th Saudi Pro League title triumph
Al-Hilal's Argentine coach Ramon Diaz (third from left) celebrates winning the Saudi Pro League title. (Arriyadiyah)
Updated 29 June 2022

World’s media hail Al-Hilal’s 18th Saudi Pro League title triumph

World’s media hail Al-Hilal’s 18th Saudi Pro League title triumph
  • Outlets in Argentina, Brazil, Nigeria and other international networks celebrate third consecutive trophy for the reigning Asian champions

The world’s media has hailed Al-Hilal’s record-extending 18th Saudi Pro League title after Ramon Diaz’s team defeated Al-Faisaly 2-1 at King Fahd International Stadium on Monday night.

The victory secured a third consecutive domestic title for the reigning Asian champions, finishing two points clear of long-time league leaders Al-Ittihad.

Argentina’s El Grafico highlighted the achievement of compatriot Diaz and several other South American players in Al-Hilal’s ranks, including Matheus Pereira (Brazil), Gustavo Cuellar (Colombia) and Andre Carrillo (Peru). Also, ESPN’s Spanish-language Twitter account posted a photo of the champions with the caption “It’s Ramon’s team.”

Nigerian outlet Sports Brief meanwhile celebrated the role of forward Odion Ighalo who’s double confirmed the title on Monday, and who also bagged the SPL’s Golden Boot for top scorer with 24 goals this season.

Brazilian network TNT congratulated former Flamengo forward Michael Delgado for his contribution to the championship win, while online website Soccernet ran with the headline “Ex-Manchester United star Ighalo leads Al-Hilal to league triumph.”


Morocco crowned 2022 Arab Futsal Cup champions in Dammam

Morocco crowned 2022 Arab Futsal Cup champions in Dammam
Morocco are the 2022 Arab Futsal Cup champions. (SAFF)
Updated 29 June 2022

Morocco crowned 2022 Arab Futsal Cup champions in Dammam

Morocco crowned 2022 Arab Futsal Cup champions in Dammam
  • A 3-0 win over Iraq sees team retain the title they won in Cairo last year

DUBAI: Morocco are the 2022 Arab Futsal Cup champions after defeating Iraq 3-0 in the final at the Green Hall in Dammam on Tuesday evening.

The 10-team tournament, organized by the Union of Arab Football Associations and hosted by the Saudi Arabian Football Federation, kicked off on June 20, and is the sixth edition of the competition.

The triumph sees Morocco retain the trophy they won last year in Cairo, and means they are now two-time champions, a record shared with Egypt and Libya.

Badr bin Abdulrahman Al-Qadi, Saudi deputy minister of sports, presented the victorious North African team with their medal, and Anis Al-Ayan, with the man of the match award.

The award for the best player of the tournament went to Morocco’s Sufian Al-Masrar, and top goalscorer award to Kuwait’s Abdulrahman Al-Taweel.

Iraq’s Zaher Hadi was named the tournament’s best goalkeeper, with the Egyptian team receiving the event’s fair play award.