adplus-dvertising
Connect with us

News

Soccer-Three bids submitted for Chelsea as deadline passes

Published

 on

Three bids have been made to purchase English Premier League club Chelsea by groups led by British property developer Nick Candy, Chicago Cubs owners the Ricketts family and the pairing of Martin Broughton and Sebastian Coe.

Premier League Chelsea were initially put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine before sanctions were imposed on the oligarch by the British government, effectively giving it control of the club.

Raine Group, a U.S. bank, has been overseeing the sale process since before the Russian billionaire was sanctioned, and set a 2100 GMT deadline on Friday for offers to be submitted, a deadline three bids have so far officially met.

South Korean companies Hana Financial Group and C&P Sports Limited have joined forces with Candy to bid two billion pounds ($2.64 billion) for Chelsea, a statement from Candy said on Friday.

It added that the consortium also includes “significant investors from Silicon Valley and tech billionaires that own other shareholdings in sports teams in the USA.”

“Football clubs are vitally important community and cultural assets, and this is a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of a leading global football club,” Candy told Reuters in a statement.

“I believe Chelsea has all of the fundamentals to become the most valuable and respected sports club in the world and a force for the greater good in everything it does.”

C&P Sports CEO Catalina Kim had earlier confirmed to Reuters that they and Hana were considering a bid.

“We are in the process of arranging our bid for Chelsea FC,” a statement read. “Surprisingly enough, despite the size of the economy, there has never been investment into (English) Premier League football clubs made by South Korean capital so far.

“Now it is time for a change and we are ready to start the new chapter with Chelsea FC.”

The owners of U.S. baseball team the Chicago Cubs, the Ricketts family, confirmed to Reuters that they had also made a bid for Chelsea, in conjunction with Citadel founder Ken Griffin.

Former British Airways chairman Broughton has teamed up with president of World Athletics Coe to become the third party to make an offer late on Friday.

“I am assembling a team that will ensure the future success and financial stability of a club I’ve supported for over 60 years,” Broughton said in a statement.

“We will secure a prompt purchase and smooth transition, with funds readily available for the immediate takeover of the club and immediate investment in the team, facilities, and commercial opportunities.

“I believe I am the right person to lead Chelsea as we start this new chapter for the club.”

Further bidders are expected to be confirmed in the coming days, with a source close to the dealings telling Reuters that Swiss billionaire Hansjoerg Wyss, who has linked up with LA Dodgers co-owner Todd Boehly, British businessman Jonathan Goldstein and Conservative peer Daniel Finkelstein, has also submitted an offer.

MISUNDERSTANDING

Turkish businessman Muhsin Bayrak, who had previously expressed interest in the club, said late on Friday that his company AB Group Holding had not filed a bid to Raine Bank.

Bayrak blamed AB Group’s failure to meet the deadline due to a misunderstanding with his lawyers over the auction procedure. “I am very upset,” he told Reuters.

According to emails seen by Reuters, AB Group’s lawyers contacted the UK Department for Digital, Culture Media & Sport using a generic email address to file an enquiry, rather than to file a bid to the U.S. investment bank.

Hana Financial Group is a South Korean investment bank and financial services company headquartered in Seoul, Korea. The group is also the title sponsor of the Korean Football League and the national soccer team.

C&P Sports Limited is a leading sports consultancy company based in London and Seoul.

C&P Sports has worked on commercial deals with several big clubs in the last 10 years, such as Kumhos Tyres with Tottenham Hotspur, Nexen Tyre with Manchester City and Hyundai Motors with Atletico Madrid.

Candy, a lifelong Chelsea fan, had been joined by former Blues player and manager Gianluca Vialli as he prepared his bid.

“I have met Nick Candy on a number of occasions over the last few weeks and I am fully behind his visions,” Italian Vialli said in a statement after it was announced the company he co-founded, Tifosy, will act as lead advisor for the process.

($1 = 0.7587 pounds)

 

(Reporting by Peter Hall; additional reporting by Ali Kucukgocmen, David Gauthier-Villars and Rohith Nair; Editing by Christian Radnedge, Ken Ferris and Kenneth Maxwell)

News

Whitehead becomes 1st CHL player to verbally commit to playing NCAA hockey

Published

 on

Braxton Whitehead said Friday he has verbally committed to Arizona State, making him the first member of a Canadian Hockey League team to attempt to play the sport at the Division I U.S. college level since a lawsuit was filed challenging the NCAA’s longstanding ban on players it deems to be professionals.

Whitehead posted on social media he plans to play for the Sun Devils beginning in the 2025-26 season.

An Arizona State spokesperson said the school could not comment on verbal commitments, citing NCAA rules. A message left with the CHL was not immediately returned.

A class-action lawsuit filed Aug. 13 in U.S. District Court in Buffalo, New York, could change the landscape for players from the CHL’s Western Hockey League, Ontario Hockey League and Quebec Maritimes Junior Hockey League. NCAA bylaws consider them professional leagues and bar players from there from the college ranks.

Online court records show the NCAA has not made any response to the lawsuit since it was filed.

“We’re pleased that Arizona State has made this decision, and we’re hopeful that our case will result in many other Division I programs following suit and the NCAA eliminating its ban on CHL players,” Stephen Lagos, one of the lawyers who launched the lawsuit, told The Associated Press in an email.

The lawsuit was filed on behalf of Riley Masterson, of Fort Erie, Ontario, who lost his college eligibility two years ago when, at 16, he appeared in two exhibition games for the OHL’s Windsor Spitfires. And it lists 10 Division 1 hockey programs, which were selected to show they follow the NCAA’s bylaws in barring current or former CHL players.

CHL players receive a stipend of no more than $600 per month for living expenses, which is not considered as income for tax purposes. College players receive scholarships and now can earn money through endorsements and other use of their name, image and likeness (NIL).

The implications of the lawsuit could be far-reaching. If successful, the case could increase competition for college-age talent between North America’s two top producers of NHL draft-eligible players.

“I think that everyone involved in our coaches association is aware of some of the transformational changes that are occurring in collegiate athletics,” Forrest Karr, executive director of American Hockey Coaches Association and Minnesota-Duluth athletic director said last month. “And we are trying to be proactive and trying to learn what we can about those changes.

Karr was not immediately available for comment on Friday.

Earlier this year, Karr established two committees — one each overseeing men’s and women’s hockey — to respond to various questions on eligibility submitted to the group by the NCAA. The men’s committee was scheduled to go over its responses two weeks ago.

Former Minnesota coach and Central Collegiate Hockey Association commissioner Don Lucia said at the time that the lawsuit provides the opportunity for stakeholders to look at the situation.

“I don’t know if it would be necessarily settled through the courts or changes at the NCAA level, but I think the time is certainly fast approaching where some decisions will be made in the near future of what the eligibility will look like for a player that plays in the CHL and NCAA,” Lucia said.

Whitehead, a 20-year-old forward from Alaska who has developed into a point-a-game player, said he plans to play again this season with the Regina Pats of the Western Hockey League.

“The WHL has given me an incredible opportunity to develop as a player, and I couldn’t be more excited,” Whitehead posted on Instagram.

His addition is the latest boon for Arizona State hockey, a program that has blossomed in the desert far from traditional places like Massachusetts, Minnesota and Michigan since entering Division I in 2015. It has already produced NHL talent, including Seattle goaltender Joey Daccord and Josh Doan, the son of longtime Coyotes captain Shane Doan, who now plays for Utah after that team moved from the Phoenix area to Salt Lake City.

___

AP college sports:

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Calgary Flames sign forward Jakob Pelletier to one-year contract

Published

 on

CALGARY – The Calgary Flames signed winger Jakob Pelletier to a one-year, two-way contract on Friday.

The contract has an average annual value of US$800,000.

Pelletier, a 23-year-old from Quebec City, split last season with the Flames and American Hockey League’s Calgary Wranglers.

He produced one goal and two assists in 13 games with the Flames.

Calgary drafted the five-foot-nine, 170-pound forward in the first round, 26th overall, of the 2019 NHL draft.

Pelletier has four goals and six assists in 37 career NHL games.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Kingston mayor’s call to close care hub after fatal assault ‘misguided’: legal clinic

Published

 on

A community legal clinic in Kingston, Ont., is denouncing the mayor’s calls to clear an encampment and close a supervised consumption site in the city following a series of alleged assaults that left two people dead and one seriously injured.

Kingston police said they were called to an encampment near a safe injection site on Thursday morning, where they allege a 47-year-old male suspect wielded an edged or blunt weapon and attacked three people. Police said he was arrested after officers negotiated with him for several hours.

The suspect is now facing two counts of second-degree murder and one count of attempted murder.

In a social media post, Kingston Mayor Bryan Paterson said he was “absolutely horrified” by the situation.

“We need to clear the encampment, close this safe injection site and the (Integrated Care Hub) until we can find a better way to support our most vulnerable residents,” he wrote.

The Kingston Community Legal Clinic called Paterson’s comments “premature and misguided” on Friday, arguing that such moves could lead to a rise in overdoses, fewer shelter beds and more homelessness.

In a phone interview, Paterson said the encampment was built around the Integrated Care Hub and safe injection site about three years ago. He said the encampment has created a “dangerous situation” in the area and has frequently been the site of fires, assaults and other public safety concerns.

“We have to find a way to be able to provide the services that people need, being empathetic and compassionate to those struggling with homelessness and mental health and addictions issues,” said Paterson, noting that the safe injection site and Integrated Care Hub are not operated by the city.

“But we cannot turn a blind eye to the very real public safety issues.”

When asked how encampment residents and people who use the services would be supported if the sites were closed, Paterson said the city would work with community partners to “find the best way forward” and introduce short-term and long-term changes.

Keeping the status quo “would be a terrible failure,” he argued.

John Done, executive director of the Kingston Community Legal Clinic, criticized the mayor’s comments and said many of the people residing in the encampment may be particularly vulnerable to overdoses and death. The safe injection site and Integrated Care Hub saves lives, he said.

Taking away those services, he said, would be “irresponsible.”

Done said the legal clinic represented several residents of the encampment when the City of Kingston made a court application last summer to clear the encampment. The court found such an injunction would be unconstitutional, he said.

Done added there’s “no reason” to attach blame while the investigation into Thursday’s attacks is ongoing. The two people who died have been identified as 38-year-old Taylor Wilkinson and 41-year-old John Hood.

“There isn’t going to be a quick, easy solution for the fact of homelessness, drug addictions in Kingston,” Done said. “So I would ask the mayor to do what he’s trained to do, which is to simply pause until we have more information.”

The concern surrounding the safe injection site in Kingston follows a recent shift in Ontario’s approach to the overdose crisis.

Last month, the province announced that it would close 10 supervised consumption sites because they’re too close to schools and daycares, and prohibit any new ones from opening as it moves to an abstinence-based treatment model.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

Trending