Saudi spending won’t compromise owners’ aims for Newcastle, says Mapgies CEO
Newcastle chief executive Darren Eales is convinced eye-watering Saudi Arabian investment in domestic football will not derail their mission on Tyneside. The Gulf state’s Public Investment Fund, which owns an 80 per cent stake in the St James’ Park outfit, bought majority holdings in four of the nation’s biggest clubs – Al Nassr, Al Hilal, Al Ahli and Al Ittihad – in June, sparking a transfer flurry which has taken some of the game’s biggest names to the Saudi Pro League in return for vast pay packets. Portuguese superstar Cristiano Ronaldo and French counterpart Karim Benzema are among those to have headed for the Middle East, while the Magpies have themselves benefited – to raised eyebrows in some quarters – with Allan Saint-Maximin’s move to Al-Ahli, having unlocked a Financial Fair Play conundrum with what is understood to have been a £30million cash injection. Asked to explain the difference between that and the more modest approach adopted on Tyneside, where the total transfer spend over the four windows since the new owners took charge currently amounts to around £350million, Eales said: “An investment was made and Financial Fair Play is the regulation, so within those parameters everybody knew what the guard rails are in terms of what you can spend and how you can spend it. “Our job is to try to now grow Newcastle United to where we want it to be within the regulations which every club has to follow.” While Newcastle’s spending has been huge in comparison to that under previous owner Mike Ashley, PIF’s investment in the club, which has prompted repeated accusations of sportswashing, has been relatively modest for a sovereign wealth fund worth in the region of £514billion. However Eales, who admitted the success or otherwise of the Pro League could spark pressure for a change to spending regulations in Europe, insists the owners are not frustrated by their inability to throw money at the Premier League club as they have been able to do at home. He said: “The reality is they came in and it has been incredible, fighting relegation to finishing 11th, then finishing fourth. We have very shrewd operators in our ownership group. “We have got a great skill-set and set of people who have experience in various businesses. They understand it is a long-term plan not short-term.” Summer swoops for Sandro Tonali, Harvey Barnes and Tino Livramento had bolstered Eddie Howe’s squad for a campaign in which the club will look to build upon last season’s top-four finish while at the same time renewing their acquaintance with the Champions League after a 20-year absence. However, the arrivals of Barnes and Livramento were eased by Saint-Maximin’s departure amid questions over a PIF-backed club buying from another within the fund’s sporting portfolio. We are trying to build the plane while we are flying it Newcastle chief executive Darren Eales However, sporting director Dan Ashworth, who confirmed there was no other formal bid for the Frenchman despite interest elsewhere, insisted the undisclosed fee represented the player’s market value. Ashworth said: “We are absolutely convinced it is fair market value and without going into the actual price it was, there is plenty evidence of players of similar age, similar position, similar ability, similar CV that are moving for similar amounts outside the Saudi league.” The trajectory since Amanda Staveley’s consortium took up the reins at St James’ in October 2021 has been inexorably upwards, and the plan is to continue that resurgence both on the pitch and off it, where £10million has been invested in the training ground and a feasibility study commissioned to look into ways in which the 52,000-capacity stadium could be expanded. Commercial revenue and global supporter engagement are also major focuses for a club which has high hopes for sustained success. Eales said: “We are trying to build the plane while we are flying it. We won’t always get everything right. For us, it’s about getting Newcastle United rightfully back to where it should be.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Today at the World Cup: Spain and Sweden set up semi-final clash Dewi Lake puts injury troubles behind him to lead out Wales at Twickenham Roberto De Zerbi insists Brighton retain their ‘soul’ despite star departures
1970-01-01 08:00
Air Canada Hedges Some of Its Fuel Bill for First Time in Years
Air Canada said it hedged about 30% of its jet fuel costs as it re-enters the oil derivatives
1970-01-01 08:00
Yankees miserable trade deadline lowlighted by plummet in prospect pipeline
As if the New York Yankees' season couldn't be worse, their prospect pipeline took a dip in the MLB.com rankings.The New York Yankees were in a weird position. Even though they were playing bad baseball and sitting in last place in the AL East heading into the trade deadline, they were...
1970-01-01 08:00
Cubs Rumors: Dansby Swanson bullying, Javy Baez trade, prospect rankings
Cubs Rumors: Dansby Swanson kept Jed Hoyer from sellingJust a few weeks prior to the MLB trade deadline, the Chicago Cubs looked like surefire sellers, and it was tough to blame Jed Hoyer and Co. Chicago sat 7.5 games back in the NL Central and 6.5 games back in the NL Wild Card race as of early J...
1970-01-01 08:00
Today at the World Cup: Spain and Sweden set up semi-final clash
Spain and Sweden became the first sides to reach the World Cup semi-finals on Friday. The two sides will meet in the last four after Spain beat the Netherlands 2-1 and Sweden overcame Japan by the same margin. Here, the PA news agency takes a look at a tense day of action and what is in store in the remaining two semi-finals. Spanish history A controversial game in Wellington saw Spain reach the last four for the first time. VAR was a main talking point with Esther Gonzalez’s effort for Spain disallowed for offside on review. Referee Stephanie Frappart then overturned her decision to give Netherlands a penalty before VAR intervened again to give Spain a spot-kick for Stefanie van der Gragt’s handball. After all the controversy, teenage winger Salma Paralluelo came off the bench to score Spain’s 111th-minute winner. Super Sweden Sweden outplayed Japan to reach the World Cup semi-finals for the fifth time. Amanda Ilestedt’s close-range finish and Filippa Angeldahl’s penalty put them in full control six minutes into the second half. Japan did mount a late revival with Riko Ueki sending a penalty against the crossbar and fellow substitute Honoka Hayashi firing home three minutes from time. But a Japan equaliser would have been an injustice and Sweden rightfully took their place in the last four once again. First-time winners guaranteed The exit of 2011 World Cup winners Japan means a new name will be carved on the trophy. Four-time winners the United States were also beaten by Sweden in the previous round, while two-time champions Germany failed to make it out of the group stage. Norway, the only other country to win the Women’s World Cup back in 1995, were beaten in the last 16. As well as Spain and Sweden, Australia, France, England and Colombia are still in the hunt for a first World Cup triumph. England – and Becks – expects The Lionesses head into their quarter-final clash against Colombia with the pre-tournament words of former England captain David Beckham ringing in their ears. Forward Alessia Russo revealed how “heartthrob” Beckham had boosted Sarina Wiegman’s squad before their departure for Australia and New Zealand. “He was really nice. It was a pinch-me moment in terms of what women’s sport nowadays has done,” Russo said of the pre-World Cup chat. “It was amazing actually. He has been one of my idols – and heartthrobs – ever since I was a little girl.” Post of the day Quote of the day It was a pinch-me moment in terms of what women’s sport nowadays has done England's Alessia Russo on meeting David Beckham What next? Quarter-final: Australia v France (0800)Quarter-final: England v Colombia (1130) Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Dewi Lake puts injury troubles behind him to lead out Wales at Twickenham Roberto De Zerbi insists Brighton retain their ‘soul’ despite star departures David Moyes: Man City bid for Lucas Paqueta was nowhere near our valuation
1970-01-01 08:00
Ukraine Recap: Russia Targets Airfields With Ballistic Missiles
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McDonald’s Franchisees That Fail Inspections Have a Quicker Path to Recovery
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1970-01-01 08:00
A Guide to Argentina’s Many Exchange Rates
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1970-01-01 08:00
India Loads Up on Russian Dirty Fuel With Crude Supply Cuts
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1970-01-01 08:00
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1970-01-01 08:00
Roberto De Zerbi insists Brighton retain their ‘soul’ despite star departures
Roberto De Zerbi insists leading Premier League clubs “can’t buy our soul” as Moises Caicedo edges closer to becoming the latest star name to depart Brighton. Albion have accepted a British record transfer fee in the region of £110million from Liverpool for the Ecuador midfielder, although reports suggest he would prefer to join Chelsea. The Seagulls, who start the new season at home to newly-promoted Luton on Saturday, have become accustomed to selling key players for hefty fees. Argentina World Cup winner Alexis Mac Allister moved to Anfield earlier this summer, while Arsenal pair Ben White and Leandro Trossard, Chelsea defender Marc Cucurella and Tottenham midfielder Yves Bissouma also left the Amex Stadium in the past two years. De Zerbi is resigned to losing 21-year-old Caicedo but had a defiant message as he focused on further strengthening his squad going into a campaign which will include Europa League football. “I’ve already forgotten Moises,” said the Italian. “I’m really proud for the players we have in the squad. We have to complete the squad. “We want to improve the squad because we lost Mac Allister, we lost (Levi) Colwill (on loan from Chelsea last season), maybe we lose Caicedo. “We have to be ready because when the players leave it’s because they played well but the credit is for the club, for the players, for us, the coaches. “The big clubs can buy the players but they can’t buy our soul and our spirit. That’s not on the market and this is more important than the players when they leave. “The money is not my work, is not my job. I can answer only about the transfer market in general. Moises is leaving and is not important for me now.” 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
David Moyes: Man City bid for Lucas Paqueta was nowhere near our valuation
West Ham manager David Moyes hopes to be able to complete deals for both James Ward-Prowse and Harry Maguire – but stressed Manchester City’s bid for midfielder Lucas Paqueta was “not anywhere near” the club’s valuation. Southampton midfielder Ward-Prowse is having a medical ahead of his transfer to east London, while Maguire remains in discussions with United about the terms of his exit from Old Trafford. West Ham are understood to have knocked back an initial £60million approach for Paqueta from the Premier League champions. “We’ve had an offer from Manchester City, but at the moment it’s not anywhere near meeting our valuation,” said Moyes. Despite initial frustrations in the summer window, the Irons have added Mexico midfielder Edson Alvarez to the squad in a £35million deal from Ajax, with Ward-Prowse set to follow. “James Ward-Prowse is having a medical just now. We’ve agreed a fee but it’s not right I speak about him as he’s not yet our player,” Moyes told a press conference. United boss Erik ten Hag was giving little away when questioned on Maguire’s future, stressing the England defender would be available for Monday’s game against Wolves even though the club had accepted a bid from West Ham, understood to be around £30m. On the situation regarding Maguire’s expected arrival, Moyes said: “We’ve had a bid accepted from Manchester United, but while he’s not our player I’m not in a position to discuss him really.” After seeing former captain Declan Rice complete a new British transfer record move to Arsenal in a £105m deal, West Ham have been trying to reshape the squad for next season – when they will also compete in the Europa League – if not as quickly as Moyes would have liked. “It’s not about us having £100million to spend, but the fees being charged by clubs for players,” the West Ham boss said. “We sold Declan – I actually think Declan was quite cheap, to be honest – and there has nearly not been a player we have gone for under £40million. We have been very active, as you all know, trying to get players in.” West Ham have also seen Gianluca Scamacca and Nikola Vlasic depart as Moyes looks to push the group on from last season’s success in winning the Europa Conference League. “You need to look at the amount of players Chelsea bought – you need a number you can work with and a balance of players in each position, and all those things come into it when you try to sign them,” Moyes said. “I just walked through the corridor and looked at all the pictures of us winning a European trophy and it was incredible what we did. “We’re going into this season with a great deal of positivity. We have a great feeling and we want to keep it.” West Ham open the new Premier League season at Bournemouth on Saturday. Alvarez, though, will not be available as he continues fitness work since being away at the CONCACAF Gold Cup with Mexico. “They have always done well and they have a new approach this season under Andoni Iraola,” Moyes said of this weekend’s opponents. “It is always a hard game at Bournemouth, but we had a good win there last year and we hope we can get another one tomorrow.”
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