Skip to main content

Report on Leeds talks with Qatar

The New York Times reports on talks between Qatar and Leeds United: 'Qatar, the gas-rich Gulf state that has gained an outsized influence in global soccer, held advanced discussions to buy a stake in the storied English team Leeds United on Monday, according to two people with direct knowledge of the discussions. Qatar stunned the sports world when it secured the rights to host soccer’s World Cup in 2022. Since that vote in 2010 it has been among the most consequential nations in soccer, buying and investing huge amounts to turn Paris Saint-Germain into a powerhouse team and also becoming the biggest buyer of soccer rights on the continent through its BeIN Sports network.'

'The move for Leeds, which missed out on a return to the Premier League after losing a playoff semifinal to Derby last month, would be Qatar’s first foray into English soccer and most likely will lead to further scrutiny into its affairs at home and abroad. Human rights groups have drawn attention to the treatment of workers building World Cup stadiums, while there have been allegations of wrongdoing over the way in which Qatar convinced FIFA members to choose it to host the World Cup.'

'The talks with Leeds, which won the last of its three English championships in 1992, are at an advanced stage and stem from a close personal relationship between the club’s majority owner, Andrea Radrizzani, and Nasser al-Khelaifi, the businessman who fronts most of Qatar’s investments in sports. A close friend of Qatar’s emir, al-Khelaifi is president of P.S.G. and chairman of beIN Sports. He once backed Qatar’s joint sports television venture in Asia with Radrizzani, who ran MP Silva, a global sports rights buyer.'

Labels:

Comments

Post a Comment

Popular posts from this blog

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s
1 comment
Read more

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day income is
Post a Comment
Read more

Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club. Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale. Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium. The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to depl
Post a Comment
Read more