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moomba said:
Big relief to Derby supporters.

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I'm sure some of them would be asking why he only turned up at the 11th hour, not months ago. And being the owner of a property group having also acquired Pride Park is a little interesting.
 

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SM said:
I'm sure some of them would be asking why he only turned up at the 11th hour, not months ago. And being the owner of a property group having also acquired Pride Park is a little interesting.
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Doubt they'll care. This is still better than where they were headed.

He may still put them there anyway but this keeps them going for now.
 

New Chelsea FC owners raise £800mn of debt to reshape club

Financing eclipses $650mn raised by Manchester City parent company last year
www.ft.com www.ft.com

The new owners of Chelsea Football Club are raising roughly £800mn of debt as they reshape the running of the English Premier League team following the end of the Roman Abramovich era. The financing arrangements consist of a roughly £300mn revolving credit facility and a £500mn term loan, according to people with direct knowledge of the matter, eclipsing the $650mn raised by Manchester City’s parent company last July. US financier Todd Boehly and private investment firm Clearlake Capital acquired Chelsea for £2.5bn on May 30. They also committed to invest a further £1.75bn in the club, including in the playing squads, talent academies and stadium. It is the latest in a series of fundraisings in football that underline the connections between elite sport and high finance, as investors buy into top clubs. Chelsea’s new owners are implementing a financial plan to bolster the London club’s operations, update its Stamford Bridge stadium and further expand the team’s global fan base. Boehly and Clearlake’s acquisition of Chelsea was followed by US investment group RedBird Capital’s €1.2bn deal to acquire AC Milan from hedge fund Elliott Management in June. The term loan would form part of Boehly and Clearlake’s £1.75bn commitment to Chelsea, the people said, while the revolving credit facility is for working capital purposes. The investment pledge was critical to meeting the terms set by Abramovich, who put Chelsea up for sale after Russia invaded Ukraine. The UK government sanctioned Abramovich in March, accusing him of close links to Vladimir Putin. The terms of the sale, which was led by US merchant bank Raine Group, included restrictions on debt levels to protect the club. A person close to Chelsea and its owners said that the club will not bear any of the interest expense associated with the debt because of the structure of the financing and all proceeds will go into the business. They added that the owners are not pledging any assets or revenues associated with Chelsea’s regulated entities to obtain the financing. Bank of America and JPMorgan are among the banks involved with the financing, the people said. The new Chelsea owners this week confirmed the appointment of sports executive Tom Glick as “president of business”, giving him responsibility for commercial strategy, revenue growth and fan engagement. The owners have yet to hire a sporting director and fill other important roles, something they are planning to complete in the second half of the year, according to one person with knowledge of the plans. Bruce Buck, the former lawyer who advised Abramovich on his purchase of the club almost two decades ago, stepped down as chair last month. Chelsea has also confirmed the departure of former director Marina Granovskaia, who played a key role in player relations and transfers under Abramovich. Under Boehly and Clearlake, the club has signed England striker Raheem Sterling from Manchester City, and central defender Kalidou Koulibaly from Italian side Napoli. The new owners also plan to invest in technology, original media content and expand in markets such as the US to bolster the club’s growth.
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funeral im back GIF
 

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Bojan KantKick said:
www.theguardian.com

How a great English city sold itself to Abu Dhabi’s elite – and not even for a good price | Aditya Chakrabortty

Manchester’s Labour council let Sheikh Mansour buy up acres of public land for seemingly a fraction of its worth, says Guardian columnist Aditya Chakrabortty
www.theguardian.com www.theguardian.com

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Manchester has a long history of battling slavery. There are surely some in the city that are not happy with land being handed over to Abu Dhabi interests engaged to this very day in modern slavery practices.
 
Zidane98 said:
Manchester has a long history of battling slavery. There are surely some in the city that are not happy with land being handed over to Abu Dhabi interests engaged to this very day in modern slavery practices.
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Anyone not receiving a bribe and not blinded by loyalty through sportswashing.
 
Apart from zzzzzzzz, there a couple of aspects to Manchester Life.

Has it benefited the area? Absolutely. I've been walking through Ancoats, New Islington and Beswick for over a decade now and worked in Ancoats for 5 years. The transformation is incredible. Housing, facilities including a sixth form college and library, as soon to be an entertainment/concert facility. Not to mention the CFA. From the East Side of the town centre to the stadium its like a different place (the old place wasn't that flash).

Has it benefited the residents? Yes and no. Plenty of employment created for locals and those with property or who were able to buy property outright or through a share scheme have seen their assets increase by a huge amount (I'd say property in the area is worth 15-20 times what it was). Some say that although the area is better, the development has made it harder to afford rents and more unlikely they'll ever be able to afford to buy in the area.

Did Mansour get it on the cheap? Not a clue although it was a shithole much of which was condemned land which had to be regenerated and reclaimed. I can't imagine the land would have been valued that highly.

As for the zzzzzzzzz, I'm sure there are some that oppose the involvement of Mansour. I guess they get the chance to have their say at council elections.
 
moomba said:
Apart from zzzzzzzz, there a couple of aspects to Manchester Life.

Has it benefited the area? Absolutely. I've been walking through Ancoats, New Islington and Beswick for over a decade now and worked in Ancoats for 5 years. The transformation is incredible. Housing, facilities including a sixth form college and library, as soon to be an entertainment/concert facility. Not to mention the CFA. From the East Side of the town centre to the stadium its like a different place (the old place wasn't that flash).

Has it benefited the residents? Yes and no. Plenty of employment created for locals and those with property or who were able to buy property outright or through a share scheme have seen their assets increase by a huge amount (I'd say property in the area is worth 15-20 times what it was). Some say that although the area is better, the development has made it harder to afford rents and more unlikely they'll ever be able to afford to buy in the area.

Did Mansour get it on the cheap? Not a clue although it was a shithole much of which was condemned land which had to be regenerated and reclaimed. I can't imagine the land would have been valued that highly.

As for the zzzzzzzzz, I'm sure there are some that oppose the involvement of Mansour. I guess they get the chance to have their say at council elections.
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Bernstein has a lot to answer for. Mansour took advantage of Bernsteins weakness for a bung.

Should have been a competitive bidding process and there should have been affordable housing included like there is everywhere else in the UK.
 
moomba said:
Never heard of Bernstein having a weakness for a bung. Suspect its made up to make the deal appear dodgy.
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He ran the council when they gave Mansour a sweetheart deal, then he retired and 3 days later went to work for City. Doesn't take a rocket scientist to join the dots.
 
Bojan KantKick said:
He ran the council when they gave Mansour a sweetheart deal, then he retired and 3 days later went to work for City. Doesn't take a rocket scientist to join the dots.
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I think your facts are a bit out mate.
 
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