Tag Archives: finance

Anthony Fry appointed the new chairman of the Premier League

Fry gets top job at Premier League: Dairy Crest boss to replace Richards as chairman

Olympics vice-chairman who is a director at Tottenham.

Champions: Manchester United wrapped up the Premier League title on Monday against Aston Villa

Champions: Manchester United wrapped up the Premier League title on Monday against Aston Villa

Instead, the nominations committee have
chosen in Fry, who is also chairman of Dairy Crest and the Cala Group, a
person who has no formal connection with football.

Buck added: 'There were a number of outstanding candidates, any of whom would have made a fine Premier League chairman, but in Anthony Fry we have appointed an individual with the correct blend of experience, skills, attitude and demeanour to represent the best interests of the Premier League.

Moving on: Sir Dave Richards will step down in June

Moving on: Sir Dave Richards will step down in June

WHO IS HE

Fry is currently Chairman of the Finance Committee of the BBC Trust and has enjoyed a distinguished career. He has specialised in the media industry and has held numerous Chairmanships and Board positions across a range of business, public, charitable and academic bodies.

'Anthony's CV speaks for itself, but
we were particularly impressed by his aptitude for and understanding of
the role, as well as believing his style to be particularly well-suited
to developing effective working relationships with both the member clubs
and the executive of the Premier League.'

Fry himself said: 'The opportunity to
become chairman of the Premier League is one that appealed hugely to me
for obvious reasons.
'I have a deep-seated and long-held passion for sport and believe the
skills and attributes I have developed throughout all aspects of my
career will serve both the Premier League clubs and the executive
extremely well.

'The league is one of the country's
great success stories of recent times having overseen a period of rising
playing standards, substantial investment in infrastructure and
development, significant growth in attendances and viewing figures as
well as the marked commercial success that has benefited the English
game as a whole.'

Sunderland and QPR eye former Everton striker Tim Cahill

Sunderland and QPR want ex-Everton striker Cahill to bolster their strike force

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UPDATED:

23:08 GMT, 14 December 2012

Sunderland and QPR are among the clubs showing interest in New York Red Bulls midfielder Tim Cahill.

The Australian, 33, is ready to return to England on a two-month loan and had been hopeful of joining former club Everton.

For hire: Red Bulls striker Tim Cahill

For hire: Red Bulls striker Tim Cahill

Manager David Moyes said: 'We have not made a decision yet but, if you are asking today, it wouldn't be what we are doing.'

Sunderland need to bolster their strike force and may struggle to sell to help finance recruits. They are keen on Manchester City's John Guidetti, also on an initial loan deal.

QPR are looking for similar deals and manager Harry Redknapp is an admirer of Cahill's all-action style.

Nottingham Forest are close to tying up a 100,000 deal for Derry winger Stephen McLaughlin, 22.

David Tait dies in Hong Kong

Former Sale star Tait dies in Hong Kong leaving rugby world shocked

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UPDATED:

11:50 GMT, 13 December 2012

A former Scotland and Premiership rugby union star, David Tait, has died at the age of 25.

The former Sale Sharks player is understood to have fallen from an apartment block in Hong Kong.

His Premiership rugby career had been cut short by a series of injuries, and he had since become a corporate finance manager for multinational company, KPMG.

Tragic: David Tait is understood to have fallen from a balcony in Hong Kong

Tragic: David Tait is understood to have fallen from a balcony in Hong Kong

History: Tait used to play for Sale Sharks

History: Tait used to play for Sale Sharks

The back-row forward was signed by Sale as a teenager and went on to enjoy five years with the Cheshire club.

On the international stage, he formed part of England’s training squad for the 2008-09 International Rugby Board world seven series, but did not feature for the side. He did, however, play for Scotland at the 2009 Dubai Sevens.

The rugby world has been left devastated by Tait’s tragic death, with England’s Danny Care leading the messages of condolence on Twitter.

The Harlequins player wrote: 'Couldn’t believe the news y’day.Lost a good friend and an absolute legend of a bloke David Tait. RIP mate. Sending all my love to his family.'

Northampton Saints fly-half Ryan Lamb said: 'Terrible news about the death of David Tait. Top player and a top bloke, had some awesome times playing through the age groups with him.

In a further message, Lamb added: 'Thoughts go out to his family and to the sale lads in such a bad time. #RIP'

The Rugby Players’ Association chief executive Damian Hopley also spoke of his sadness, praising the former Sale Grammar School and Manchester University student as a 'gifted and popular young man'.

Speaking to the Manchester Evening News, Hopley said: 'The rugby community will be shattered by the passing of such a gifted and popular young man who was respected by everyone he played alongside.

'He wasn’t simply a talented rugby player, he was also extremely bright and successful in his life outside of rugby.

'We will do everything we can to help support David’s family and the players who played alongside him. His family and friends are in our thoughts and prayers.'

Roberto Mancini wants to pick Manchester City up by beating Manchester United

Mancini bids to lift mood at his Theatre of Gloom with another derby win over Fergie

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UPDATED:

22:30 GMT, 8 December 2012

Roberto Mancini tried comedy when asked if he and Manchester City's new director of football, Txiki Begiristain, shared the same ideas about transfer targets.

'Yes. Him, me and Guardiola,' he quipped, before adding hastily: 'That is a joke.' It was a rare moment of levity in a peculiarly joyless season.

At face value, City should be feeling buoyant as they welcome Manchester United for their first meeting since the balance of power shifted last May.

Now's the time: Roberto Mancini (left) hopes Yaya Toure (right) can run the show from midfield

Now's the time: Roberto Mancini (left) hopes Yaya Toure (right) can run the show from midfield

The blue army: Mario Balotelli (left) and Edin Dzeko (right) will want to sink United again

The blue army: Mario Balotelli (left) and Edin Dzeko (right) will want to sink United again

They are champions, pipping United with the final kick of last season, they are the only unbeaten league team in the country this season and have not lost at home for two years.

Yet morale has been low and relationships strained, even before the defeat by Borussia Dortmund on Tuesday which left City owner Sheik Mansour without European football despite his 1billion investment.

At the top, Mancini is distant from his players, booed by some fans for his substitutions and aware that the appointment of two Barcelona executives, Begiristain and chief executive Ferran Soriano, has increased the likelihood of Barca's double Champions League-winning manager Pep Guardiola replacing him at some stage. Off the field, a corporate restructure has left staff fearing for their jobs.

Head of partnerships Luis Vicente cleared his desk last month while finance director Graham Wallace will be vulnerable when the next set of figures show another big loss.

Elsewhere, employees whose annual salary is equivalent to what Yaya Toure earns in a day, have been let go to cut costs.

The dismal Champions League exit – accompanied by damning comments from players Micah Richards and Joe Hart – means City desperately need a tonic today.

And skipper Vincent Kompany, who scored the only goal when United last visited in April, has issued a rallying cry.

He said: 'We know the challenge is huge. It's a good game to pick yourself up with, but there is always a risk attached to a game like this.'

Larking about: Manchester City's players appear to be having some fun on Saturday in training

Larking about: Manchester City's players appear to be having some fun on Saturday in training

Returning to haunt them Carlos Tevez could feature for Manchester City

Returning to haunt them Carlos Tevez could feature for Manchester City

He won the mind games with Sir Alex Ferguson at the end of last season with his mantra that United were certain to win the title, and the Old Trafford club squandered an eight-point lead, including a crucial 1-0 defeat at the Etihad.

Only now can the City boss admit: 'They thought it was over, yes.' Mancini starts today having to defend his overall record, not least to those who booed the replacement of Carlos Tevez in last week's 1-1 draw with Everton.

'I accept the criticism,' he said. 'But I think in two years we did a good job because we won three trophies. In the last two years not many managers won three trophies and if they should sack me…'

While Mancini was feted for the 6-1 win at Old Trafford last season, he is prouder of the 1-0 home win over United in the title run-in, which was more emphatic than the scoreline suggested.

Ready for Mario Balotelli (left) scored a brace and was instrumental in Jonny Evans being dismissed when City battered United 6-1

Ready for Mario Balotelli (left) scored a brace and was instrumental in Jonny Evans being dismissed when City battered United 6-1

'United had 10 men at Old Trafford [Jonny Evans was sent off] and that is always a problem for teams.

'The home win was a proper reflection.'

Despite that result, Mancini is likely to split the starting attack from that night, Carlos Tevez and Sergio Aguero, with Mario Balotelli preferred to former United man Tevez.

David Silva and Gael Clichy also hope to be fit. One mid-term silver lining for Mancini is that he respects Begiristain's ability to sign a player above that of Brian Marwood, who oversaw the purchases of Jack Rodwell, Scott Sinclair and Javi Garcia in the summer and has since moved to take charge of the club's academy.

'I think that now we have people who know the market and can move quickly,' he said. 'But it will still be difficult to find the players in January to improve our team a lot.'

Never has he or the club needed a positive result more than Sunday. It may even spread a little happiness around the Theatre of Gloom.

Pick that one out! Rooney scored a belter against City in 2011

Pick that one out! Rooney scored a belter against City in 2011

David Moyes will discuss Everton future in New Year

Moyes set to open talks over Everton future in the New Year

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UPDATED:

22:50 GMT, 27 November 2012

David Moyes given the first definitive answer about his future plans by revealing he expects to begin discussions over a new contract in the New Year.

The Everton manager has seven months remaining on his current deal and so far this season he has brushed off questions about his intentions by insisting his priority was getting his team moving forward.

He is relaxed about the situation and will be happy to get the January transfer window out of the way before discussions begin.

Set to talk: David Moyes expects to discuss his Everton future in the New Year

Set to talk: David Moyes expects to discuss his Everton future in the New Year

Moyes, whose side host Arsenal this evening, has made it clear that personal finance or length of contract will not be thorny issues when talks with Everton Chairman Bill Kenwright commence – it will be more a case of Everton’s ambitions going forward.

‘I would probably wait until we have got over January and see how things go,’ said Moyes. ‘I want to see what we’re going to do, where the club are looking to move to in the future. And that’s what I’m really looking for. It’s probably going to be after the New Year before (we speak).’

Everton have made huge progress during the 10 years Moyes has been at the helm but, mindful of the treatment Arsene Wenger has received in recent weeks, he is mindful of not overstaying his welcome. That said, he is puzzled as to why the criticism of Wenger has been so strong.

Moving in the right direction: Everton have made a good start to the season

Moving in the right direction: Everton have made a good start to the season

‘Supporters might decide they want a change from managers who have been there a long time but I think that’s wrong because you are not going to get any stability at the club and will probably waste a lot of money chopping and changing all the time,’ said Moyes.

‘Arsene has done a great job getting them in the Champions League every year. Of course their supporters want trophies but you look at their stadium and it is unbelievable. Only one or two clubs in the country would not be envious of that stadium.

‘He has put down something that is going to be there for a long, long time. Arsene is part of that. He has seen the club through the transition from Highbury to The Emirates and continually got a team that has made the Champions League.

‘Ok, they’ve not won the league or cups but they have always been up there. Arsene can go as long as he wants. Arsene Wenger will be the one who decides what he does at Arsenal. I don’t think it will be the board or supporters.’

Leeds buy-out not affected by Chris Kirkland assault

Thug won’t halt Leeds buy-out as Bahraini investors plough on with deal

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UPDATED:

23:37 GMT, 24 October 2012

The furore over Friday night’s assault on Chris Kirkland will not cost Leeds United the chance of a fresh start under prospective purchasers GFH Capital, Sportsmail can reveal.

Leeds chairman Ken Bates admitted he feared the Bahraini investment company may pull out of negotiations after seeing a fan run on from the away end at Hillsborough and floor Sheffield Wednesday keeper Kirkland with a double-handed blow to the head.

The intruder has since been arrested and jailed, but widespread condemnation of a flashpoint that once more put Leeds fans, as a whole, in the dock left Bates fearing the worst.

Assault: Chris Kirkland was attacked during Leeds' match with Sheffield Wednesday

Assault: Chris Kirkland was attacked during Leeds' match with Sheffield Wednesday

Writing in his programme notes for Tuesday night’s game with Charlton, he aired his misgivings that months of painstaking negotiations could have been scuppered, and said: ‘What message does that give to potential investors and commercial partners I don’t know what they must be thinking after watching Friday night’s events unfold.’

But Sportsmail understands GFH remain undeterred and are as determined as ever to conclude their discussions and assume control at Elland Road as soon as possible.

Though shocked by the images of Kirkland being struck to the ground, they evidently feel the actions of one individual do not represent Leeds’ fan base in its entirety.

Takeover talks have been underway since May, and Bates confirmed recently that the would-be buyers, a subsidiary of Gulf Finance House, had made an upfront payment of 2million in their quest to become Leeds’ new owners.

GFH wrote to the Bahrain stock exchange last month to inform them they were ‘leading the acquisition’ of Leeds and followed up by issuing a statement outlining their determination to steer the Elland Road club back into the Barclays Premier League.

That intent remains undimmed by the controversy surrounding a heated Yorkshire derby, and more talks are planned in an attempt to reach an agreement with majority shareholder Bates.

Liverpool to rebuild Anfield and knock down streets.

Liverpool to demolish streets around Anfield to make way for rebuilt stadium

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UPDATED:

08:50 GMT, 15 October 2012

Liverpool have decided to stay at Anfield – with a huge plan to extend their current home to 60,000.

The club and the city council will announce their plans for the regeneration of the area on Monday.

Fenway Sports Group, Liverpool's owners, have been wrestling with the idea of moving to a new site on Stanley Park or redeveloping Anfield, which has been the club's home since 1892.

Staying put: Liverpool look set to remain at Anfield

Staying put: Liverpool look set to remain at Anfield

The City Council, though, are expected to announce plans for a new 'Anfield Village' at a press conference and it is expected that Liverpool will pursue the a redevelopment and expansion of their current stadium.

Moving to Stanley Park was heavily dependent on FSG obtaining a naming rights deal to ease the cost but the finance involved in modernising Anfield will also be significant.

It is expected that a number of streets
behind the Main Stand will be demolished to allow for expansion with the
Anfield club set to spend around 150million on the rebuild. Under the
plans, Lothair Road, Alroy Road and Sybil Road will be cleared.
Residents affected will be rehoused.

Demolished: Lothair Road, behind the Main Stand, will be cleared

Demolished: Lothair Road and Sybil Road (below), behind the Main Stand, will be cleared

Sybil Road

The capacity could increase to 60,000 with the redevelopment scheme poised to be completed within five years.

Pillars in the Main Stand will be removed while the Anfield Road stand will be redeveloped allowing for a larger second tier.

Liverpool are hopeful disruption will be kept to a minimum during the season.

This has been a long-running saga and
the club's most recent financial results, which were released in May,
revealed Liverpool had written off a staggering 49.6million during
their failure to relocate.

Plans: John Henry (right) had considered moving the club

Plans: John Henry (right) had considered moving the club

Liverpool set to remain at Anfield

Liverpool set to remain at Anfield as city council announces regeneration plan

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UPDATED:

21:30 GMT, 14 October 2012

Liverpool will move a step closer to staying at Anfield when the city council announce their plans for the regeneration of the area on Monday.

Fenway Sports Group, Liverpool's owners, have been wrestling with the idea of moving to a new site on Stanley Park or redeveloping Anfield, which has been the club's home since 1892.

Staying put: Liverpool look set to remain at Anfield

Staying put: Liverpool look set to remain at Anfield

The City Council, though, are expected to announce plans for a new 'Anfield Village' at a press conference and it is expected that Liverpool will pursue the a redevelopment and expansion of their current stadium.

Moving to Stanley Park was heavily dependent on FSG obtaining a naming rights deal to ease the cost but the finance involved in modernising Anfield will also be significant.

Plans: John Henry (right) had considered moving the club

Plans: John Henry (right) had considered moving the club

This has been a long-running saga and the club's most recent financial results, which were released in May, revealed Liverpool had written off a staggering 49.6million during their failure to relocate.

David Moyes fully committed to Everton

Moyes fully committed to Everton… although talks of contract extension yet to begin

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UPDATED:

21:30 GMT, 28 September 2012

David Moyes has insisted his commitment to Everton is unwavering even though he has yet to open talks on a new contract.

The Everton manager’s current deal runs out at the end of this campaign and the fact that formal dialogue has not started with him and chairman Bill Kenwright has been brought into context after Newcastle boss Alan Pardew penned an eight-year deal on Thursday.

Moyes, however, is adamant that nothing sinister should be read into the situation.

Committed: David Moyes says he will always have total commitment to Everton

Committed: David Moyes says he will always have total commitment to Everton

He has been in this position before – the Scot only had a few months left on his contract when he penned a five-year agreement in October 2008 – and sees no reason why it will become a major issue.

‘My commitment at Everton is total and it always will be,’ said Moyes, who celebrated 10 years at the helm in March.

‘I don’t see it as a big problem. I’ll be asked more questions the longer it goes on. But right now if you asked me if it was even in my head, it’s not even crossed my mind.

‘I feel as though I am happy with the situation. The chairman is as well. And when we need to, we talk.

'We talk on the phone every day so it’s nothing that needs to be resolved by any big talks.

'We have a good relationship and when it comes to that that’s the way we will deal with it.’

When the time comes for talks to take place, Moyes – whose side face Southampton at Goodison Park on – feels the only subjects that will need to be clarified are what direction the club is going in. Personal finance will not be an issue.

Rough ride: Moyes watched his side lose 2-1 in the Capital One Cup to Leeds in midweek

Rough ride: Moyes watched his side lose 2-1 in the Capital One Cup to Leeds in midweek

Rough ride: Moyes watched his side lose 2-1 in the Capital One Cup to Leeds in midweek

‘I don’t want anything to get in the way of how well the players are playing,’ said Moyes.

‘If that became a problem, then I’d need to look at it. But hopefully it won’t. The players are focused and we all know what we are trying to do.

‘We have no real need (to talk) at the moment. I am heavily concentrating on the team and I personally don’t feel that we have to sit down and do it.

'I don’t think the club feel there is a need either, because whatever happens, I’m here until the end of the season anyway. There’s no panic.’

Everton have made an excellent start to the season and while his mood was checked slightly on Tuesday evening by a shock defeat to Leeds in the Capital One Cup, there is a possibility Moyes could be sitting on top of the Premier League if results go the right way.

The last time Everton took charge of the Premier League table was on August 14, 2007 but that was after just two games.

Star man: Marouane Fellaini has come into his own under Moyes' tutelage

Star man: Marouane Fellaini has come into his own under Moyes' tutelage

This campaign is only marginally older but given that Everton have already dismantled Manchester United, Aston Villa and Swansea, top spot would offer signs of progress.

‘It’s something which we know is there for us if we can take our opportunities,’ said Moyes.

‘I mention this quite a lot at Everton that when they come along, regularly we don’t take them. If we can win the game then it will be a good position to be in at this stage of the season.

‘Psychologically for the club, being top (for however long) would be a big thing.

'For the supporters, you can tell it’s a big thing for them. For the players, we are trying to get off to a better opening than what we have had.’

Leeds takeover: Bank Gulf Finance House claim to have signed agreement

Middle-Eastern bank confirm Leeds takeover deal with Bates on way out

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UPDATED:

08:40 GMT, 27 September 2012

The Middle-Eastern investment bank, Gulf Finance House, have confirmed they have signed an exclusive agreement to lead a takeover of Championship side Leeds.

The financial future of the Elland Road club has been up in the air since Leeds, on June 26, revealed they had granted exclusivity to a potential investor.

Details remained thin on the ground after that, other than for the club to confirm the exclusivity period had ended, before, on Saturday, current owner Ken Bates broke his summer-long silence by admitting he was in talks with a group from the Middle East.

Getting what they wanted: Ken Bates is set to leave Leeds

Getting what they wanted: Ken Bates is set to leave Leeds

Leaving: Bates has been at the club seven years

Leaving: Bates has been at the club seven years

He entertained four businessmen in his box at the game against Nottingham Forest and on Thursday morning, in a letter released to the Bahrain Stock Exchange, GFH confirmed that one of their subsidiary companies, GFH capital, were the group operating on behalf of the potential purchasers.

The letter read: 'Further to the news published in the Gulf Daily News on the 25th and 26th Sep 2012, referring to the proposed acquisition of Leeds United Football Club (LUFC), GFH would like to confirm that GFH Capital Limited, a 100% subsidiary of Gulf Finance House, has signed an exclusive agreement to lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC.

'Due to a confidentially provision, no further details can be given about the commercial terms of the transaction.'

Any takeover of Leeds would end Bates' seven-year reign which has been largely dogged by supporter unrest.

Protests have regularly been staged against the former Chelsea owner for a perceived lack of investment.

There was no comment from the club on Thursday morning, although GFH did confirm to Sportsmail that the correspondence had come from them.

David Haigh, a Leeds fan, who is the deputy chief executive officer and chief operating officer of GFH Capital is thought to be the frontman of the takeover, but was also unavailable for comment.