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Sophia Haley Marks, 20, dubbed 'Percocet Princess', is charged with selling Robert De Niro's grandson Leandro Rodriguez drugs before his OD death
2023-07-15 20:53

Premier League clubs push government over key question surrounding state ownership in English football
Premier League clubs and other senior football figures have increased pressure on the Department of Culture, Media and Sport over state ownership in the English game, raising specific questions about whether a distinction will be drawn between revenue and equity when it comes to testing the liquidity of clubs. There is a feeling that a more general framing of the rules could have the unintended consequence of diminishing competitive balance, while also worsening the very issue the independent regulator is being set up to tackle. The Saudi Arabian takeover of Newcastle United has made the majority of the Premier League clubs - sometimes described as “the other 18” in this context - more attuned to the potential issues that come with state ownership, and it is understood that the topic was constantly raised in the initial talks that informed the content of the landmark White Paper on football. The issue wasn’t even mentioned in the eventual document, though, despite it representing a significant factor that greatly influences all of the problems that the regulator is supposed to cover - primarily club sustainability and systemic sustainability - through the raising of the financial threshold. The absence of reference was largely put down to the Conservative government’s concern for geopolitics, and another example of how this is affecting the game. Scrutiny on the subject has continued into the formation of the independent regulator, with football officials pressing DCMS on exactly how the body will test the solvency of clubs. The White Paper has made the financial sustainability and resilience of the sport its “primary strategic purpose”. “To support this purpose, it will have 3 specific primary duties,” the paper read. “Club sustainability - the financial sustainability of individual clubs. Systemic stability - the overall stability of the football pyramid. Cultural heritage - protecting the heritage of football clubs that matter most to fans.” Within that, the regulator will be empowered to determine the liquidity requirements for clubs based on the business plans. Other football officials are concerned that, if the framing of the questions around club sustainability only go as far as liquidity and does not have more specific terms relating to whether potential income is revenue, it could end up favouring state-owned or state-linked clubs. The argument is that, since state-owned clubs would easily pass all the solvency tests due to the fact their ownerships have virtually unlimited money and no financial risk, it would further skew the market. They would have complete freedom, while rival clubs had to be more conscious of the parameters when it comes to spending. A fear is that rivals just won't be able to keep up. The issue of revenue and equity is covered by the Premier League’s Financial Fair Play rules, and has informed part of the charges against Manchester City, but club officials are insisting that the independent regulator should be just as rigid on this and ensure all regulations covering the game are as tight and consistent as possible. A comparison has been raised with a similar system in French football, where Paris Saint Germain’s mega sponsorship deal with the Qatar Tourism Authority saw the club easily pass the domestic rules, only for Uefa to subsequently write it down. One of the core issues in the City case is whether money from sponsors Etihad and Etisalat actually came from the owner, Sheikh Mansour, and consequently represented equity disguised as revenue. The case is ongoing as City insist upon their compliance with the rules. Many football figures also raised it as regards Newcastle United's new sponsorship deal with Saudi Arabian company Sela, pointing to a unique question that comes from states with such centralised structures. Read More Welcome to Wrexham’s biggest heroes are neither the A-list owners nor the players How the Champions League lost its spark and led to the end of an era European football is ignorant to the march of the Saudi Pro League Man City scandal is not about fair play – it’s about fraud UEFA warns clubs against overspending in ‘reckless pursuit of success’ Sportswashing is about to change football beyond anything you can imagine
2023-09-25 15:49

Ringside View of Naoya Inoue's Knockout is Brutal
Boxing in the morning.
2023-07-26 00:51

Nevada lithium mine leads to 'green colonialism' accusations
The rush to mine lithium for car batteries is dividing environmental and native American communities.
2023-10-08 11:18

Kimberly Palmer: Creative ways to cut your energy costs this summer
With energy prices rising and summer heat looming, it’s a good time to make sure your home is running as efficiently as possible
2023-07-03 21:23

Dodgers hard-throwing rookie Bobby Miller to make debut against Braves
Hard-throwing right-hander Bobby Miller, one of the Los Angeles Dodgers’ top prospects, will make his debut against the Atlanta Braves on Tuesday
2023-05-23 06:34

Disney Plus sheds subscribers for second straight quarter
Subscribers to Disney Plus fell for the second straight quarter, the company said on Wednesday, though it stemmed financial losses as it...
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Turkish Central Bank’s First Post-Vote Moves Focus on Gold, Cash
Turkey’s central bank unveiled its first measures after Sunday’s presidential elections, adding to a tangle of rules it’s
2023-05-16 18:31

Lyles cruises into 200m semis in quest for sprint double
Newly-crowned world 100m champion Noah Lyles on Wednesday cruised into the semi-finals of the 200m in his quest to become the first male athlete to win a world sprint...
2023-08-23 19:26

Springbok star Pollard likely to miss Rugby Championship
Star Springboks fly-half Handre Pollard is likely to miss the Rugby Championship during July due to a calf injury, South Africa rugby director Rassie...
2023-06-27 22:51

Phil Mickelson Nearly Hit Colin Morikawa With His Drive
Watch yourself, Colin!
2023-07-21 01:04

At a glance: Laws in the Caribbean region that criminalize gay sex
Several Caribbean nations have struck down laws criminalizing same-sex relations in recent years
2023-06-11 20:09
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