Manchester United's stadium, Old Trafford, is in need of immediate investment. Though the stadium was once envied by the footballing world, it has not undergone redevelopment since the Glazer family leveraged their buyout of Manchester United in 2005. Although Old Trafford remains the largest club football stadium in the UK and generated €126m in match-day revenue last year, Tottenham Hotspur’s new ground, which has a lower capacity, generated €125m in match-day revenue and increased its commercial earnings by 21% via non-football events such as concerts and NFL games. Manchester United’s European rivals are also revamping their stadiums at a faster pace. Real Madrid is due to complete a €900m overhaul of its 80,000-capacity Santiago Bernabéu stadium this year and has secured €360m from US investment firm Sixth Street to partner on non-football-related events. Meanwhile, Barcelona has secured €1.45bn in financing for its own stadium revamp.
Raine Group stands to make $65.5m from World Wrestling Entertainment's (WWE) merger with free-fighting organisation the Ultimate Fighting Championship, according to US securities filings. The bank helped sell Chelsea Football Club for £2.5bn ($3.22bn) in 2018 and, more recently, it has been advising on a prospective sale of Manchester United for the Glazer family. JPMorgan and Moelis are also expected to make around $25m each from the $21bn transaction. Raine founded in 2009, has about 25 partners and managing directors and employs about 175 staff.
South Korean footballer Son Jun-ho, who plays in the Chinese Super League, has been detained in northeast China on suspicion of accepting a bribe as the Communist government cracks down on corruption and match-fixing in the sport. Son was detained while trying to leave China and is allegedly linked to a bribery case involving Shandong Taishan coach Hao Wei over alleged match-fixing. South Korea's foreign ministry has confirmed it is providing the necessary consular assistance to Son, and that its diplomats will meet with him to understand the exact charges faced.
Kenyan distance runner Kipruto suspended for suspected doping
CBC
23-05-17 12:57
Kenyan distance runner Rhonex Kipruto has been suspended for suspected doping. The Athletics Integrity Unit has charged Kipruto with irregularities in his athlete biological passport, which can detect possible irregularities in blood values assessed over time. Kipruto won a bronze medal in the 10,000-metre race at the 2019 world championships and set a record time for a 10-kilometre road race in Valencia months later. He also placed ninth in the 10,000 at the Tokyo Olympics in 2021.
The Emilia-Romagna Grand Prix, which was due to take place on May 21, has been cancelled due to severe flooding in Imola. The area around the circuit has been subjected to heavy rain, resulting in flood and landslide warnings, and the nearby Santerno river has risen, threatening the circuit. The fifth round of the Formula One world championship has been cancelled, with at least three people in the region having already been killed in floods, and more than 5,000 having been evacuated from their homes. As of Wednesday morning, the paddock had not been affected, although car parks and other areas nearby have experienced severe flooding.
Formula 1 personnel were forced to vacate the paddock on Tuesday, with the event officially confirmed as cancelled on Wednesday. Following surveys of the region, and in view of the fact that rain is expected to persist until Thursday, event organisers declared there was no option other than to cancel the Imola Grand Prix. A statement expressing sympathy with those affected by the floods was issued by Ferrari. Championship leader Max Verstappen offered his support for the cancellation, having taken the chequered flag in first place at the preceding round, held in Miami.
The Imola cancellation marks the first time this season that F1 has had to cancel an event. The season is set to proceed with the next race at the Monaco Grand Prix next weekend.
Arab foreign ministers meet ahead of Arab League summit in Saudi Arabia
The Toronto Star
23-05-17 12:01
Arab foreign ministers have gathered in Saudi Arabia ahead of the annual summit in Jeddah. The summit will see Syria return to the 22-member league after a 12-year suspension caused by President Bashar Assad's brutal crackdown on the 2011 mass protests against his rule. Despite the move, a number of Arab countries remain skeptical of Syria’s return to the league, primarily Qatar. The summit also takes place as Arab governments are attempting to resolve the conflict between the military and the paramilitary Rapid Support Forces in Sudan, which has left over 600 people dead.
Qatar has expressed an interest in hosting the 2025 Rugby League World Cup after France relinquished its rights to stage the tournament. The country, which lacks a rugby league team, is one of four states to have shown interest in hosting the event. South Africa, Fiji and New Zealand have also reportedly put themselves forward. The tournament could be postponed or cancelled if a new host is not found.
Qatar is in the running to host the Rugby League World Cup in 2025 after France pulled out due to financial reasons. The International Rugby League (IRL) is considering options for hosting the tournament, with New Zealand, South Africa and Fiji expressing an interest. But IRL Chair Troy Grant said the wealth of Qatar made it an attractive option to host the event. He added, however, that human rights issues, especially regarding women’s rights, would be a “consideration” before any decision is made.
India has been significantly expanding its military-security and defense cooperation with Gulf Cooperation Council (GCC) countries, according to an analysis from The Diplomat. The cooperation has included joint military exercises, counterterrorism operations, intelligence sharing, and cybersecurity cooperation. Prime Minister Narendra Modi's administration has emphasized transfer of technology and joint collaborations as part of the “Make in India” initiative, and India’s defense exports reached approximately $2 billion in the financial year 2022-2023. The GCC countries are also aiming to establish defense industry partnerships for security, economic, technological, and political reasons.
India’s defense engagements with the UAE and Saudi Arabia in particular have gained momentum recently, and Oman is considered to be New Delhi’s closest defense partner in the region. India is also working closely with Bahraini and Qatari partners to increase cooperation in maritime security and anti-piracy operations. West Asia remains an untapped yet potentially lucrative market for India’s locally designed and developed defense products. While the United States, France, Italy, and the United Kingdom are established arms exporters to the region, India is viewed as a promising potential supplier of such equipment.
China and Israel have also been eyeing opportunities to make inroads into the GCC. China is viewed as a potential competitor to India’s state-run and private stakeholders in the region, and Israel’s normalization of relations with the UAE and Bahrain in 2020 could encourage India and these states to explore opportunities for joint defense collaborations. The article concludes that India’s military diplomacy with the GCC will see more progress in the future, as both India and the GCC member-states are embarking on rapid military industrialization programs and seeking out alternative defense vendors.
22bet is reportedly paying out on a £32,000 (€37,000) bet which tipped Brentford striker Ivan Toney to be banned for eight months over breaches of Football Association (FA) betting rules. The bookmaker does not expect the punter to be affected by the ban repayment, which will be offered as free bets. The payout has reportedly drawn criticism from gamblers on social media.
The treatment of migrant workers has again been brought into the spotlight amid reports in the Telegraph that three migrant workers, two Pakistani and an Indian national, at the World Cup finals in Qatar, have been held in prison since protests in January over unpaid wages, redundancies and evictions saw authorities arrest and deport many of those involved. The workers had protested against the early termination of their six-month contracts which left them without a salary or a place to live.
The Monaco Grand Prix will host the F1 race happening next, taking place from Friday, 26 May to Sunday, 28 May. Sky Sports UK and ESPN in the US will broadcast the event. Sergio Perez won last year's race in wet conditions, beating Carlos Sainz and Max Verstappen. The six-race weekend already passed, Max Verstappen was leading the Driver Standings, with 119 points, followed by Sergio Perez with 105 points. Red Bull dominated the Constructors' championship with 224 points, followed by Aston Martin and Mercedes.
Syrian President Bashar al-Assad was invited to attend an Arab Summit in Saudi Arabia last week, reflecting a trend of belated reconciliation in the Middle East between adversaries following years of conflict and rivalry. The shift has accelerated since the region's main Sunni and Shiite Arab powers, Saudi Arabia and Iran respectively, agreed to restore diplomatic ties in March this year in a deal brokered by China. This new dynamic is being driven by the interests of US allies, which want to minimise polarisation, boost economic growth and counter the influence of Iran and Turkey.
Syrian President Bashar al-Assad is due to attend an Arab summit in Saudi Arabia, marking the end of his isolation by states whose leaders shunned him during Syria’s civil war. The conflict has claimed the lives of 350,000 people since it began in 2011. Assad’s expected attendance is the latest in a series of events challenging the West’s push for his diplomatic isolation. Key moments include a 2013 gas attack by the Syrian army, which led to US military action, and Russia’s entry into the conflict in 2015 on behalf of the Syrian regime.
The motives behind the purchase of football clubs by wealthy individuals are often misunderstood, according to Simon Kuper in the Financial Times. Many rich owners believe they will “run the club like a business”, using their savvy to generate profits and success. However, this oftentimes fails to materialise as clubs balance the demands of chasing trophies with the financial realities they face. Kuper said owners often end up with neither, citing the example of billionaire Jim Ratcliffe, whose football investments have yet to bear fruit. However, clubs such as Manchester United, Tottenham and Arsenal, which tend to disappoint fans but have large followings, have tended to thrive financially. Kuper suggested that most billionaire owners are motivated by either fun or status and wrongly believe they can make an impact on their football clubs. However, clubs often significantly appreciate in value, therefore pleasing owners once they decide to sell.
Qatar is losing traction as a diplomatic voice in the Middle East as the Arab League welcomes Syrian President Bashar al-Assad back into its ranks. Qatar was hesitant to accept Saudi Arabia's initiative to readmit Syria but did not stand in its way, a move Syria's official embassy recognises as a sign of Qatar's declining influence. Experts suggest Qatar may be dialling back its once-ambitious regional foreign policy to avoid angering powerful neighbours and is steadily mending ties with Saudi Arabia, Egypt, the UAE and Bahrain in recent months. In 2021, the countries agreed to end a 3.5 year boycott of Qatar over accusations of supporting terrorism. The Gulf state is now prioritising good relations with its neighbours and is keen to avoid getting involved in regional confrontations, which is why it has been less engaged in Yemen and Sudan than in former times. With little say in recent peace talks and the conflict between rival military factions, analysts question how long Qatar can maintain its position.
Arsenal goalkeeper Aaron Ramsdale has signed a new long-term contract with the club after a successful season in which he has impressed fans and teammates alike with his performance. The announcement does not indicate the exact duration of the English shot-stopper’s new deal, however, reports suggest it runs until 2026 with the possibility of extending for another year. Ramsdale said he felt Arsenal fans had embraced him, adding: “You guys have taken my family in, making my dad feel like a superstar. It really gives a family feel to the football club.” He has made 76 appearances for the club in all competitions.
Gas Authority of India (GAIL) expects to see local gas demand growing by 6-7% in the fiscal year to March, driven by lower prices and the resumption of supply under a deal with Sefe, the former unit of Russia's Gazprom. The announcement follows a 6% decline in gas consumption in India in 2022-23 due to higher prices pushing consumers to cheaper liquid fuels and Russia's involvement in Ukraine disrupting supply, forcing GAIL to ration supplies.
The south Turkish province of Adiyaman, which has been hit hard in various earthquakes, has long been a stronghold of President Recep Tayyip Erdogan. His success at winning 66% of the vote there in the last round of elections may mean that he remains confident he can win Turkey's presidential election. During his rule, much of the aid to people living in Adiyaman has come from an interpretation of the religious tax known as "zakat". Other voters in the capital, Ankara and Istanbul believe that Adiyaman's people supported Erdogan, despite their suffering, because they have nowhere else to go.
Chinese National Football Team Coach Aleksandar Jankovic has said he believes there may be an opportunity for Chinese players to grow stronger without foreign players in China's domestic football league. Foreign players have been leaving China due to financial difficulties and Covid-19 restrictions on travel. The country hosted the 2022 Asian Cup in June and July. Jankovic hopes this will be an opportunity to develop the country's football credentials. This is part of China’s preparations for a busy six-month period that sees the country host the Asian Games in September and October. It is a tournament in which Jankovic expects the under-23 team to compete for the gold medal.
