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Everton’s great escape will not automatically solve problems – leading academic
Everton’s great escape will not automatically solve problems – leading academic
Everton’s escape from relegation will not automatically free them from problems which caused that predicament and proposed new investment will have to inevitably bring changes at boardroom level, according to a leading academic. While Premier League revenue has been secured for another season – extending their top-flight stay into a 70th season – a club which has cumulative losses of more than £430million in the last four years will have to make significant changes. And while American investors MSP Sports Capital are poised to buy into the club, Kieran Maguire – from the University of Liverpool Management School’s Centre for Sports Business – believes that will not come without strings attached. Fans who have been protesting against what they claim is mismanagement by the current board, including chairman Bill Kenwright and CEO Denise Barrett-Baxendale in particular, will welcome that prospect but what impact it has on owner Farhad Moshiri’s approach remains to be seen. “Someone suggested £150million for 25 per cent, which would value the club around £600m. Newcastle went for £300m,” Maguire, speaking about the new investment, told the PA news agency. “If a new person was coming in, they’d be looking for board representation, more concessions from Moshiri and then where does it leave him: owning three-quarters of a football club and he’d walk away with a big loss. “MSP are looking to bring two directors onto the board and for there to be changes on the existing board.” However, a new, albeit partial, boardroom will not sweep away all Everton’s issues. There are deep-rooted problems at the club which the £600m Moshiri has spent on transfers alone have failed to solve. That means it will take some turning around and – after back-to-back seasons of narrowly avoiding relegation – it could be a painful and complicated process with a squad overhaul likely to have to take place on a budget, potentially funded by existing player sales. “It is not Football Manager where you think ‘It’s not going too well, I’ll delete and reset’,” added Maguire. “You have costs in terms of the infrastructure, legacy costs in terms of player recruitment. “There won’t be a lot of money to buy players but you still have the issue of wages at 90 per cent of turnover and this overhang of the Premier League charges. “We don’t know how long that will take to conclude – and the worst-case scenario is a points deduction. “Football is a talent game and the talent follows the money. It could be you do a Brentford or a Brighton and you succeed at a point in the market but there is no evidence to suggest Everton are capable of doing that. “How do you get around that? You pay them more money – and that extra money doesn’t exist.” On the horizon is the new 53,000-capacity stadium at Bramley-Moore Dock but that, too, will be no panacea for finances. “It will start to kick in for 2024, but it is not going to move the dial a huge amount,” said Maguire. “And Everton have a fanbase who are traditional supporters from Liverpool so monetising the corporate element may be more difficult.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Bielsa casts shadow and ownership uncertainty – reasons behind Leeds’ relegation Soccer Saturday’s Jeff Stelling gets surprise phone call from Elton John Wales to host South Korea in September friendly
1970-01-01 08:00
Ugandan President Signs Anti-LGBTQ Bill With Death Penalty
Ugandan President Signs Anti-LGBTQ Bill With Death Penalty
Uganda’s President Yoweri Museveni signed into law legislation with harsher penalties for LGBTQ people, including death and life-imprisonment
1970-01-01 08:00
Swedish Household-Lending Growth Hits New Low as Rates Rise
Swedish Household-Lending Growth Hits New Low as Rates Rise
Lending to Swedish households slowed for a twelfth consecutive month, as fewer homes trade hands at lower values,
1970-01-01 08:00
Jeff Stelling gets surprise phone call from Sir Elton John as he signs off from ‘the best job in the world’
Jeff Stelling gets surprise phone call from Sir Elton John as he signs off from ‘the best job in the world’
Jeff Stelling revealed singer Sir Elton John was among his well-wishers this week as the presenter signed off from the “best job that anybody could possibly have wished for” at Soccer Saturday. Stelling announced last month his intention to stand down as anchor of the Sky Sports programme after almost 30 years and earmarked the final day of the Premier League season on Sunday as his last show. In the days leading up to his swansong, Stelling divulged he had messages of support from the likes of Gordon Strachan and Neil Warnock, plus a phone call from John, former chairman and director of Watford. Stelling, an unapologetic Hartlepool fan who frequently celebrated their goals on Soccer Saturday, said: “Somebody asked me the other day if I’d ever been starstruck and yeah, I was starstruck when Elton John rang me at home to say ‘Thank you very much for all you’ve done’. “He said ‘Every week I watch the show and every week you tell me Watford are losing and every week you tell me Hartlepool are losing so I feel like we’re kindred spirits’. There’s something in that, isn’t there?” After touching tributes from colleagues past and present in a video montage, Stelling was given a standing ovation by the punditry panel of Paul Merson, Clinton Morrison, Kris Boyd and Michael Dawson. Stelling, who had planned to quit last year before reversing that decision, briefly hid his emotions with a mask of himself and quipped: “This is tricky because I’ve changed my mind – just kidding. “I haven’t changed my mind this time.” Stelling was clearly moved by the highlights package Sky televised in the final minutes of the show after Everton retained their top-flight status and confirmed the relegations of Leeds and Leicester. Merson, Alan Mullery, Frank McLintock, Clive Allen, Charlie Nicholas, Phil Thompson and Matt Le Tissier passed on their congratulations, as did Chris Kamara, who in a nod to the catchphrase that has become synonymous with the pair and the show, said: “You are unbelievable, Jeff!” Stelling looked back fondly on his 30-plus years with Sky, in which he not only covered football but live snooker, darts, greyhound racing, pool and thanked everyone with whom he had worked. So that's it. Soccer Saturday will be back next season. I'll be watching...From me, goodbye Jeff Stelling In his farewell monologue, he added: “It’s been the best job that anybody could possibly have wished for. My wife takes great pleasure in saying ‘You are the luckiest man ever to take a breath’ and you know what? I don’t tell her this often but she’s right. “The principle success of Soccer Saturday is you lot at home, who have given us unswerving support – both for the programme and for me personally. “So that’s it. Soccer Saturday will be back next season. I’ll be watching – when Hartlepool are not playing. From me, goodbye.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Bielsa casts shadow and ownership uncertainty – reasons behind Leeds’ relegation Wales to host South Korea in September friendly Football rumours: Barcelona set sights on Bruno Guimaraes
1970-01-01 08:00
Singapore Air, Garuda to Deepen Ties and Grow Regional Routes
Singapore Air, Garuda to Deepen Ties and Grow Regional Routes
Singapore Airlines Ltd. and PT Garuda Indonesia are seeking to deepen ties with a commercial pact to coordinate
1970-01-01 08:00
Bielsa casts shadow and ownership uncertainty – reasons behind Leeds’ relegation
Bielsa casts shadow and ownership uncertainty – reasons behind Leeds’ relegation
Leeds were relegated from the Premier League on Sunday after a three-year stay in the top flight. The Yorkshire club had needed to beat Tottenham on the final day and hope other results involving Everton and Leicester went their way, but they were beaten 4-1 at Elland Road. The result meant Sam Allardyce’s side finished 19th in the table, five points behind 17th-placed Everton. Here, the PA news agency looks at some of the reasons why it went wrong. Bielsa legacy casts shadow Leeds chairman Andrea Radrizzani, former director of football Victor Orta and chief executive Angus Kinnear received huge acclaim when the club ended their 16-year Premier League exile in 2020. They played a masterstroke by appointing Marcelo Bielsa as head coach in 2018 but their legacy was always going to be defined by how they filled the vacuum after sacking the Argentinian in February 2022. The board felt they had to act after a poor run of results but, since then, they have got most of their key decisions wrong and the wheels have now fallen off. What exactly did the board get wrong? Bielsa’s successor Jesse Marsch was hailed as a natural replacement but performances and results did not improve. Leeds survived relegation last season on the final day and when Marsch was sacked in February this year, he left the club in a worse position in the table. The board’s failed, ill-conceived bids to hire Rayo Vallecano’s Andoni Iraola and Feyenoord’s Arne Slot led to accusations of panic and, after a fans’ backlash, they also reneged on appointing former Ajax boss Alfred Schreuder. So in came Javi Gracia for his ill-fated stint. The club admitted they had erred by parachuting Allardyce into Elland Road with four league games remaining. Can relegation be blamed solely on the managers? No. After Leeds defied the odds to finish ninth under Bielsa in their first season back in the top flight, they have failed to sufficiently strengthen their squad. A lack of cover for an injury-prone Patrick Bamford and midfielder Tyler Adams is a prime example. It has also been an imbalanced squad with wide players in abundance but no depth in other key areas. Some signings since promotion, such as Raphinha, Adams, Luis Sinisterra and Willy Gnonto, have been a success, but too many others have failed to make an impact, while the arrival of club-record signing Georginio Rutter has left fans scratching their heads. Has the ownership issue muddied the waters? The last-ditch appointment of Allardyce was symptomatic of Leeds’ mis-management and of a club in limbo since the investment arm of San Francisco 49ers increased its stake to 44 per cent at the end of 2021. 49ers Enterprises has an option to own 100 percent by January next year and the ownership issue has not helped decision-making. Orta’s resignation in protest over Gracia’s sacking has left Leeds without a director of football and, if Allardyce departs as expected, they will be without a long-term head coach. How relegation will affect the takeover remains to be seen, while Radrizzani has been linked with a move to buy Sampdoria. The club’s future direction is not clear. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
1970-01-01 08:00
Smartwatch Maker in Talks to Raise Funds to Expand India Push
Smartwatch Maker in Talks to Raise Funds to Expand India Push
Smartwatch brand Noise is in talks for its first-ever fundraising round, as it competes for the top spot
1970-01-01 08:00
Ukraine Recap: Kyiv Fends Off Second Massive Barrage in Two Days
Ukraine Recap: Kyiv Fends Off Second Massive Barrage in Two Days
Ukraine shot down more than 37 cruise Russian missiles and 30 drones overnight as Russia targeted military facilities
1970-01-01 08:00
Abuduwaili Abudureheman: Hong Kong denies detaining Uyghur student
Abuduwaili Abudureheman: Hong Kong denies detaining Uyghur student
Abuduwaili Abudureheman was allegedly interrogated by police on arrival at Hong Kong airport.
1970-01-01 08:00
Wales to host South Korea in September friendly
Wales to host South Korea in September friendly
Wales will play South Korea at home in a September friendly. It will be the first time the two nations have met at senior men’s level and will take place at Cardiff City Stadium on September 7, four days before Wales’ Euro 2024 qualifier in Latvia. South Korea, who are captained by Tottenham forward Son Heung-min, reached the last 16 of the 2022 World Cup in Qatar. Former Germany and United States boss Jurgen Klinsmann was appointed South Korea head coach in February. “Many teams are tied up in Europe with qualifiers and it’s not always easy to get strong opposition during the few occasions we get the chance to play friendlies,” said Noel Mooney, chief executive of the Football Association of Wales. “So to have the likes of Son Heung-min – Ben Davies’ teammate at Spurs – and many other high quality players coming to Cardiff is great for us. “They had a really good World Cup getting to the knockout stage and it’s important we keep testing ourselves against different styles of football. “South Korea offers us a really interesting chance to do that, and I’m sure we’ll have another great crowd to cheer on Cymru before the ‘Red Wall’ head for Riga a few days later.” Wales plan to play an October friendly against Gibraltar at Wrexham’s Racecourse Ground. A March 2019 friendly against Trinidad and Tobago is the only time Wales men’s senior team have played at the Racecourse – the world’s oldest international football stadium that still hosts matches – over the last 15 years. Wales manager Rob Page announces his squad on Tuesday for next month’s Euro 2024 qualifiers against Armenia and Turkey having taken four points from their opening two games in March. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
1970-01-01 08:00
Football rumours: Barcelona set sights on Bruno Guimaraes
Football rumours: Barcelona set sights on Bruno Guimaraes
What the papers say As the Premier League season comes to an end, the summer transfer season is just beginning and Newcastle will have to fight to keep midfielder Bruno Guimaraes from Barcelona. The Times says Barcelona believe it will cost them around £87million to sway Newcastle to let go of the 25-year-old Brazilian. Chelsea will be looking to put this season behind them after securing former Tottenham and Paris St Germain manager Mauricio Pochettino on a three-year contract, according to the Guardian. The Blues finished 12th this season. The Sun says promoted Sheffield United are looking at 24-year-old Nottingham Forest midfielder Lewis O’Brien, who is currently out on loan to DC United in MLS, to help bolster their squad for the top flight. Social media round-up Players to watch Sergej Milinkovic-Savic: Liverpool have sights set on the Lazio midfielder with the Serbian’s contract set to expire in 2024, according to Goal. Kim Min-jae: Manchester United and Newcastle are interested in signing the 26-year-old South Korean defender from Napoli, according to Spanish outlet Fijaches and Givemesport. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
1970-01-01 08:00
Germany’s Solar Power Generation Hit Record High at Weekend
Germany’s Solar Power Generation Hit Record High at Weekend
Germany’s thousands of solar panels set a new production record on Saturday. Output reached as high as 40,919
1970-01-01 08:00
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