Sports
Chelsea bidders set to know fate
Chelsea fans could have a clear idea of who will be the next owners of the Blues this week, with American bank Raine expected to reveal their preferred bidder from among three offers.
Raine were commissioned to lead the sale process by Roman Abramovich before the Russian was hit by UK government sanctions last month over his connections to Vladimir Putin.
The European champions have since been operating under a special licence that limits their ability to sell tickets, merchandise and operate in the transfer market.
Chelsea won 19 major trophies during Abramovich’s 19-year reign and could add another when they face Liverpool in next month’s FA Cup final.
However, the impact of the sanctions is beginning to show, with rows of empty seats in the home end for Arsenal’s 4-2 win at Stamford Bridge on Wednesday.
The club also cannot offer new contracts — defenders Antonio Rudiger and Andreas Christensen are likely to leave at the end of the season on free transfers.
The hope is that new owners will be in place by the end of the campaign.
None of the three bids is expected to run into trouble passing the Premier League’s owners’ and directors’ test or seeking UK government approval.
Soft loans totalling £1.5 billion ($1.9 billion) from Abramovich have fuelled Chelsea’s success over the past two decades but he will not claim that money back and will not receive funds from the sale while sanctioned.
Despite those losses and the need for an expensive stadium upgrade to match their status as one of Europe’s top clubs, the sale is set to attract a world-record fee for a sports club of an estimated £2.5 billion.
AFP Sport looks at the three bids on the table.
Boehly, Wyss, and GoldsteinSwiss billionaire Hansjoerg Wyss first broke the news of Abramovich’s desire to sell in an interview with newspaper Blick in his homeland.
However, it is American Todd Boehly, co-owner of Major League Baseball franchise the Los Angeles Dodgers, who is leading their bid along with British lawyer Jonathan Goldstein.
Goldstein’s loyalties as a Tottenham fan have presented a red flag for some Chelsea fans.
But Boehly has credibility with his ownership of the Dodgers, who won a first World Series for 32 years in 2020.
He has also overseen a significant stadium redevelopment at Dodger Stadium and modernisation will be needed at Stamford Bridge.
Broughton’s star power
Martin Broughton brings formidable football and business experience to the table as a former chairman of Liverpool and British Airways.
However, it is a collection of sporting stars he has assembled that has caught the eye in his bid.
Seven-time Formula One world champion Lewis Hamilton and tennis great Serena Williams have reportedly pledged to invest millions into Broughton’s consortium.
“When I heard about the opportunity, I was like wow,” said Hamilton. “This is a great opportunity to be part of something so great.”
World Athletics president Sebastian Coe, a Chelsea fan, would also take a seat on the board if the bid were successful.
The major financial investment for the bid does cause a headache for the Premier League as it comes from Josh Harris and David Blitzer, who own a stake in Crystal Palace.
Harris and Blitzer would have to sell their shares in Palace before being cleared to be part-owners of Chelsea.
Stephen Pagliuca
Co-owner of National Basketball Association side Boston Celtics and Serie A club Atalanta, and co-chairman of Bain Capital, which has $160 billion in assets, Stephen Pagliuca was the last of the bidders to go public with his interest.
He has secured the support of the True Blues Consortium, a Chelsea supporters group that includes former captain John Terry.
There is even more sports business experience among his consortium.
Larry Tanenbaum owns stakes in Toronto’s ice hockey, basketball, and football teams as well as being chairman of the NBA.
Pagliuca only bought into Atalanta in February, paying a reported $450 million for a 47 percent stake.
The Nigeria Football Federation (NFF) has confirmed the appointment of German tactician Bruno Labbadia as the new Head Coach of Nigeria’s Senior Men’s National Team, the Super Eagles.
This development was announced by the NFF General Secretary, Dr. Mohammed Sanusi, in the early hours of Tuesday, following the approval of the NFF Executive Committee based on a recommendation from its Technical and Development Sub-Committee. Labbadia’s appointment takes immediate effect.
Born on 8th February 1966 in Darmstadt, Germany, Labbadia enjoyed a distinguished playing career, earning two caps for the German national team. His club career included stints at prominent clubs such as Darmstadt 98, Hamburger SV, FC Kaiserslautern, Bayern Munich, FC Cologne, Werder Bremen, Arminia Bielefeld, and Karlsruher SC. Notably, he won the Bundesliga title with Bayern Munich in 1994.
Labbadia’s coaching career has seen him manage top-tier clubs such as Hertha Berlin, VfB Stuttgart, VfL Wolfsburg, Hamburger SV, and Bayer Leverkusen, among others. He holds a UEFA Pro License and is well-regarded for his tactical acumen.
With his appointment, Labbadia becomes the sixth German to lead the Super Eagles, following in the footsteps of Karl-Heinz Marotzke, Gottlieb Göller, Manfred Höner, Berti Vogts, and Gernot Rohr. Höner notably guided the Super Eagles to a runner-up finish at the 1988 Africa Cup of Nations, while Rohr qualified Nigeria for the 2018 FIFA World Cup in Russia.
Labbadia’s immediate task is to prepare the Super Eagles for their upcoming 2025 Africa Cup of Nations (AFCON) qualifying matches.
Nigeria will face Benin Republic on Saturday, 7th September in Uyo, and Rwanda on Tuesday, 10th September in Kigali. The team will also play four additional qualifying matches in October and November as they aim to secure a spot in the 2025 AFCON, scheduled to be held from December 21, 2025, to January 18, 2026.
The Super Eagles, placed in Group D, will face familiar foes Benin Republic, who recently defeated Nigeria in the 2026 World Cup qualifiers. The draw for the AFCON qualifiers, held in Johannesburg, South Africa, last month, also sees Nigeria taking on Libya and Rwanda, both of whom are also part of the Super Eagles’ group for the 2026 World Cup qualifiers set to be hosted in the USA, Canada, and Mexico.
Labbadia’s appointment comes at a crucial time as the Super Eagles look to regain their dominance on the African continent and secure qualification for both the AFCON and the World Cup.
Finidi George has stepped into a new role as the technical manager for NPFL side, Rivers United, following his resignation as coach of the Super Eagles.
During his brief tenure with the Eagles, George’s 1-1 draw against South Africa in Uyo and a 2-1 loss to Benin Republic in Abidjan cast doubts on Nigeria’s World Cup qualification, prompting calls from fans for his dismissal.
South Africa vs Nigeria: Why we failed to defeat Super Eagles – Percy Tau
Nevertheless, Rivers United, the 2021-22 champions, expressed optimism in a statement on Wednesday via their official handle about having the former Eagles international manage their team.
“Finidi brings a wealth of experience and expertise to our team, having had a distinguished playing career spanning over fifteen years,” the statement read.
Kanu advocates for establishment of standard soccer academies
Dr. Okey Kpalukwu, General Manager of Rivers United FC, welcomed George, stating, “We are delighted to have Finidi George join our team. His appointment marks a new chapter in our club’s history, and we are committed to working together to achieve success.”
Expressing his gratitude to the club, an elated George remarked, “I am honored to have this opportunity, and I thank the Sports Commissioner, the General Manager, and the supporters for their confidence in me. I am committed to working hard and making the team win.”
Inter Milan were taken over by US fund Oaktree on Wednesday after the Serie A champions’ outgoing owners Suning missed a deadline to repay a debt worth hundred of millions of euros.
In a statement, Oaktree announced they had “assumed control” of Inter after the non-repayment of a “three-year loan to Inter Milan’s holding companies that matured on 21 May 2024 with a total balance due of approximately 395 million euros ($428 million)”.
Chinese conglomerate Suning have relinquished control of Inter to Oaktree three days after the team were officially crowned Italian champions for the 20th time.
Suning borrowed 275 million euros at over 12 percent interest three years ago to pay staff and players as the Covid-19 pandemic ravaged the finances of clubs across Europe, putting up their controlling stake in the club as collateral.
“Oaktree is dedicated to achieving the best outcome for the long-term prosperity of Inter Milan, with an initial focus on operational and financial stability for the Club and its stakeholders,” Oaktree continued.
Inter became a powerful force at home and abroad after Suning acquired the club in 2016, with seven trophies including two Serie A titles and two European finals.
Simone Inzaghi’s team cruised to this year’s championship, winning the Scudetto with five matches remaining by beating AC Milan in a thrilling local derby.
Oaktree, which manages $192 billion in assets, said they are “committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the Club is positioned for success on and off the pitch”.
Inter ended up in the hands of Oaktree in a manner similar to the way another US fund, Elliott Management, took control of their local rivals Milan in 2018.
Elliott became Milan’s owners when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from the late Silvio Berlusconi’s Fininvest the previous year.
-
Metro5 days agoGrim Friday: Man, Wife, Grandson Perish in Ibadan Fire
-
News5 days ago
NNPCL Refutes Shutdown Claims: Port Harcourt Refinery Fully Operational
-
News6 days ago
Bank Robberies Now History in Lagos Since 2014 – IGP
-
Crime & Court6 days ago
Human Rights Lawyer, Dele Farotimi, Granted ₦30m Bail
