A generous donor of multiple humanitarian efforts.
Todd Boehly, 20% owner of the Los Angeles Dodgers, tells Bloomberg’s Erik Schatzker what he finds so appealing about the U.K.’s Premier League and discusses the chances of his buying one of its football clubs. (Source: Bloomberg)
See Full Article here : https://www.bloomberg.com/news/videos/2019-09-09/why-l-a-dodgers-owner-todd-boehly-wants-to-buy-a-premier-league-club-video
Arsenal are close to offloading Henrikh Mkhitaryan on deadline day of the European transfer window but hopes are fading that Shkodran Mustafi will follow him out the door.
Mkhitaryan, 30, has arrived in Italy to try to complete a loan move to Roma,who will have an option to buy the attacking midfielder.
Mkhitaryan came on during Arsenal’s 2-2 draw with Tottenham Hotspuryesterday but has been unable to rediscover the form he showed playing for Borussia Dortmund between 2013 to 2016. He joined Arsenal for £27 million from Manchester United in a deal that sent Alexis Sánchez in the opposite direction in January 2018.
Mkhitaryan was Arsenal’s third-highest scorer with six Premier League goals last season but his chances of starting regularly have been affected.
See full article here : https://www.thetimes.co.uk/article/the-premier-league-players-who-could-move-before-the-transfer-deadline-sb6hphg88
Barcelona have sent a delegation including technical manager Eric Abidal to France for talks with Paris Saint-Germain over a deal for Neymar.
As reported by RAC1 and confirmed to Goal by sources close to the talks, Abidal, along with board member Javier Bordas, and Andre Cury, a specialist in the Brazilian market, have flown to Paris to begin negotiations.
The Catalans need to offload the Brazilian from their wage bill and had been actively offering him to the Premier League prior to the transfer window closing in England.
PSG, meanwhile, are determined to receive as much money as possible for a player they signed for €222m (£200m/$249m) back in 2017, while they also want right-back Nelson Semedo included in any potential deal.
Sources have told Goal that they would consider an offer that includes both Coutinho, Semedo and a cash payment of around €50m (£47m/$57m).
They would, however, prefer to sell the Brazilian to Real Madrid, who are planning a €100m+ offer of their own, with the relationship between the Parisians and Barca strained after Neymar’s initial decision to leave Spain.
Speculation has been rife that the former Santos star has been searching for a way out of Paris, with his relationship with the club and their supporters appearing to be at an all-time low.
The forward, who didn’t feature for the club over pre-season, was absent from the Trophee des Champions win over Rennes, while he was also missing from the Ligue 1 opening-weekend victory over Nimes.
“Son of a bitch” was heard being chanted by some of the home fans in the stands at Parc des Princes, while there were also banners calling for the 27-year-old to “Get out” of the club.
It remains to be seen if a transfer can be finalised before the transfer window closes in Spain on September 2 but it’s certain to be an intriguing battle as Barca and Madrid go head-to-head.
Giovani Lo Celso joined Tottenham on a season-long loan deal from Real Betis. (AFP/JORGE GUERRERO)
LONDON: Tottenham led the way on a busy final day of the Premier League transfer window with deals for Giovani lo Celso and Ryan Sessegnon, while Arsenal strengthened their defence with the signings of Kieran Tierney and David Luiz.
Manchester United striker Romelu Lukaku’s prolonged transfer to Inter Milan was also completed after the clubs reportedly agreed on a deal that could rise to €80 million (£74 million, US$90 million).
Spurs chairman Daniel Levy has been under pressure from manager Mauricio Pochettino to build on the progress made on and off the field as Tottenham moved into a new 62,000-capacity stadium and reached the Champions League final last season.
After the club record signing of French international midfielder Tanguy Ndombele, the signings of Lo Celso and Sessegnon add some much-needed depth to a Spurs squad that had previously gone 18 months without a new recruit.
Argentine international midfielder Lo Celso has joined on a season-long loan deal from Real Betis with an option to make the transfer permanent next summer.
England under-21 international Sessegnon joins from Fulham in a £25 million deal that could rise to £30 million in performance related add-ons on a six-year contract.
“I think it is the right time for me to come here,” said Sessegnon. “It’s a young, eager, exciting team for me to join and I think this team is not far off winning big things in the future.”
However, a sensational swoop for Juventus’ Paulo Dybala broke down leaving Spurs short on support for Harry Kane up front.
ARSENAL BOLSTER DEFENCE
Arsenal were badly in need of defensive recruits to shore up a backline that conceded 51 Premier League goals last season to miss out on Champions League football for a third straight year.
The Londoners long-standing interest in Tierney was finally given the green light when the payment structure of a £25-million move was agreed with Celtic.
“I’ve lived my dream and I’ve loved every single minute of it,” said Tierney of leaving his boyhood club. “Now I just feel was the right time to take a step on. I feel this is a great opportunity for me.”
Arsenal then secured some much-needed cover at centre-back in an £8 million deal for Luiz.
“David has huge experience and I look forward to working with him again. He is a well known player and adds to our defensive strength,” said Arsenal boss Unai Emery.
The Gunners clawed back that deadline day spend after agreeing a £35 million deal to sell Nigerian international striker Alex Iwobi to Everton.
Iwobi is Everton’s seventh signing of the summer following goalkeeper Jonas Lossl, right-back Djibril Sidibe, midfielders Andre Gomes, Fabian Delph and Jean-Philippe Gbamin, and striker Moise Kean.
Manchester City and Liverpool are expected to battle for the Premier League title once more, but were not busy on deadline day.
City brought in veteran goalkeeper Scott Carson on loan from Derby as back-up to Ederson and Claudio Bravo after the signings of Rodri, Angelino and Joao Cancelo earlier in the window.
Liverpool made just three low-key additions in teenagers Sepp van den Berg and Harvey Elliott and back-up goalkeeper Adrian over the course of the summer.
Outside the top six, Watford broke their transfer record to bring in Senegal international Ismaïla Sarr for a reported €35 million from Rennes.
Wilfried Zaha’s hopes of a move from Crystal Palace were snubbed as Everton could not match the London club’s asking price.
“It’s been well documented that he wanted to leave, but it has not worked out for him,” admitted Palace manager Roy Hodgson.
Brighton bolstered their midfield options with the loan signing of Australian international Aaron Mooy.
Former England international Andy Carroll returned to Newcastle on a free transfer from West Ham, while the Magpies also secured Swedish defender Emil Krafth.
Leicester are also set to use some of the £80 million they received from Manchester United for Harry Maguire on Sampdoria midfielder Dennis Praet for €20 million.
And Burnley secured the services of Danny Drinkwater on loan from Chelsea until January.
Source: AFP/de
Read more at https://www.channelnewsasia.com/news/sport/football-tottenham-arsenal-splash-cash-on-premier-league-11794210
Manchester United have told Inter Milan to hurry up and produce the money that the Premier League club want for Romelu Lukaku.
Inter have been interested in signing the United forward since Antonio Conte replaced Luciano Spalletti as coach almost eight weeks ago, but the Italian side are yet to meet the £80 million asking price.
Ole Gunnar Solskjaer, the United manager, is adamant that he needs a replacement for Lukaku, 26, should the Belgium striker depart, and is mindful that time is running out for him to sign a new forward. The Premier League transfer window shuts two weeks on Thursday and unless Inter come up with the money soon, they will miss out on Lukaku because United need to start negotiations.
David de Gea’s new Manchester United contract, which he is expected to sign before the Premier League season starts on August 9, is six years in length and worth about £117m. The Spain international will become the best-paid goalkeeper in the world when he agrees the deal within the next couple of weeks.
De Gea, 28, had lucrative offers from Paris Saint-Germain and Juventus but has decided to stay at Old Trafford for a number of reasons. First, he wants to repay the United manager Ole Gunnar Solskjaer for keeping faith with him towards the end of last season. The Spaniard endured one of the worst runs of form in his career, making a number of high-profile mistakes, including a costly one.
Spurs v Juventus. Kane v Ronaldo | Anthony S Casey Singapore
Liverpool are set to sign 16-year-old Fulham midfielder Harvey Elliott, the youngest player to feature in the Premier League.
Elliott, an England Under-17 player, has rejected a scholarship at Fulham and has been courted by Europe’s heavyweights, including Real Madrid, Paris Saint-Germain and RB Leipzig.
However, Liverpool look to have won the race to recruit him and will have to negotiate a hefty compensation package with the Championship side.
Elliott cannot sign a professional contract until he turns 17 next April but is regarded as one of the most promising teenagers in the country.
According to KPMG’s ‘The European Elite 2019’ report, published in May, the combined enterprise value of the 32 most prominent European football clubs increased nine per cent in 2018, and has grown 35 per cent over the past three years.
This growth rate contrasts with the fortunes of European stocks in the same period – notably the STOXX Europe 50 Index, whose value fell 13 per cent in 2018, the report notes. It says this demonstrates “the different pace at which the football industry is evolving.
Charles Baker, co-chair of New York-based O’Melveny’s sports industry group, which advises on a broad array of transactions, including M&A, tells SportBusiness that “an investment into a football club currently offers investors the potential for significant return on their initial investment, as the CAGR for sports team ownership is better than almost every other asset class over the last five, 10 and 20 years”.
He adds: “Given the current levels of growth in the sports market, an investment in a football club may be a smart portfolio choice. A lot of investors see this asset class as the new frontier for sports investment, especially when compared to the NFL and MLB, which are seen as more mature properties.”
Baker also notes that due to financial fair play regulations and other factors such as stable sponsorship revenues driven by global appeal, the profitability of European clubs is growing.
Stephen Duval, co-founder of London-based 23 Capital, which provides finance to the sports and entertainment sectors, tells SportBusiness that a new wave of investors has entered football and is changing the landscape.
“Football clubs are definitely being seen far less as trophy assets for rich people,” he says.
“They are now run like proper businesses. Even Manchester City – you may say Abu Dhabi are throwing money at it, but they’ve turned it into a business.”
His co-founder at 23 Capital, Jason Traub adds: “We are seeing more institutional financial interest in football now.”
Examples of US private equity investors buying into European clubs include Jason Levien and Steve Kaplan (Swansea City), John Henry (Liverpool), Harris Blitzer Sports & Entertainment (Crystal Palace), The Tornante Company (Portsmouth), Joe DaGrosa (Bordeaux), and James Pallotta (AS Roma).
Baker says that the influx of private equity “cannot be understated because it significantly increases competition for clubs, driving up prices”.
He adds: “I think we will also see more clubs changing hands, due to the focus on short-term returns and exits, which could create instability at certain clubs. These short-term turnarounds could lead clubs to take actions that are riskier from a regulation or operational perspective, and that a long-term investor would not otherwise take.”
However, he adds: “Private equity firms can be savvy financial investors focused on buying underappreciated assets and making certain operational and financial changes to unlock value.”
Duval notes that “there are a lot of principles to private equity, so the rules about getting out in a managed timeframe are less relevant”. Such principles include alignment of interest, governance and transparency. “Particularly in the Premier League a lot of these principles of private equity are getting involved.”
Comparing the influx of private equity to previous waves of owners, Traub adds: “I think the financial community coming in is potentially a healthier one. Most private equity investors come with a challenging mindset, a smart mindset.
“A lot of them will have a financial driver but what is clear from the Premier League, for example, is that an individual investor will learn quickly how to balance financial performance with stakeholder interest – and by that I mean the fans and the local community.”
Baker stresses that a club “must be appropriately priced to provide an acceptable risk/return from a capital cost perspective. Without that, all of the operational changes will not provide much upside”.
He explains that investors are more wary of buying stakes in European clubs, especially in the Premier League, because of the risk of relegation and its effect on club value.
“There is definitely an increased sense of caution when buying a Premier League club,” he says.
To overcome some of that risk his group recommends structured deals with a contingency, with a certain portion of the purchase price – typically 20-to-30 per cent – held back and provided only if the club meets certain “relegation/promotion metrics”.
Last year’s sale of Aston Villa was an example of such a deal. The NSWE group purchased a controlling 55-per-cent stake in the club, which won promotion back to the Premier League in May, triggering the remainder of the purchase price to be paid. “This type of structure in a deal is becoming increasingly common,” says Baker.
At the FT Business of Football Summit, held in London on May 31, Goldman Sachs managing director Gregory Carey said it is still extremely challenging for investors in English clubs outside of the elite to grow the value of their investments.
“There is a lot of competition for very few spots,” he said. “Some teams that you think should be playing in the Premier League have been relegated, so it’s very tough. People think they understand the space, but they are realising how hard it is.”
Carey pointed to the example of Swansea City, who were relegated from the Premier League in 2017-18 after seven consecutive seasons in the top flight. A consortium of American businessmen had acquired a controlling 68-per-cent stake in the club in July 2016.
“It’s a lot easier to buy a mid-level club in Italy than an English Championship club because you have a much better chance of staying up,” Carey said.
However, Traub observes that other challenges exist in Italy and elsewhere in Europe, and points to the chronic delays in the building of AS Roma’s new stadium as a prime example.
James Pallotta, Roma’s American owner and president, presented plans for the new ground in March 2014 and targeted the 2016-17 season for its opening. Construction has still not started, with the project suffering a number of setbacks including the arrest of nine people linked to the building of the stadium.
Traub said that owners of Premier League clubs are likely to find fewer obstacles to driving growth and will “feel like the destiny is in their own hands”.
Traub adds that multiple ownership of clubs is a way for additional value can be unlocked, with the City Football Group, which along with Manchester City owns parts of clubs in the US, Australia, Japan, Spain, Uruguay and China, leading the way.
Traub notes that City are formalising the multiple ownership of clubs done already elsewhere, for instance by the Pozzo family. “Manchester City have a thesis to institutionalise football ownership under one umbrella,” he explains.
Other similar developments are likely to emerge soon. “We are seeing a much healthier want by new investors to look at consolidating a number of clubs,” Traub reveals. “We know of three or four parties that are looking to drive that same thesis.”
Ebru Köksal, senior advisor at investment management firm J. Stern & Co. and former chief executive at the Galatasaray Group, says that women’s football also represents a valuable opportunity for clubs, pointing to Lyon, whose women’s side has won six Uefa Women’s Champions League titles, including the last four in a row. Lyon is owned by French businessman Jean-Michel Aulas, and Köksal says the club’s women’s side “has been one of the best investments of his life”.
Köksal adds: “If I had €10m I would definitely go for a women’s club because the growth potential there is tremendous. Also, there is less competition and it’s easier as you are starting with a blank page.”
