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Ladybbird · 08-10-21, 09:14

UK: Newcastle United Takeover Confirmed as Saudi Arabia Complete £305m Deal

Newcastle United's Saudi-led takeover has been confirmed after a deal was agreed between the two parties alongside the Premier League after an 18-month long saga

BBC News 8 OCT 2021.

Crown Prince Mohamed bin Salman chairs the Saudi Public Investment Fund (PIF)(PA)

Newcastle United has officially been bought by Saudi Arabia for £305m - with a vow to take the club back to the Champions League.

Mike Ashley’s 14 year reign at St James’ Park is over, and the Toon are now owned by the richest backers in football.

The Geordie club is now set for a new era which - given the riches available from the Public Investment Fund of Saudi Arabia - will once again see United mix it with the elite.

Newcastle fans have hailed the deal - which was secretly revived over the last few weeks - as transformative for the club and potentially the North East region.

Ladybbird · 06-06-23, 22:10

PGA Tour & DP World Tour Agree Shock Merger With LIV Golf to End Split in Golf

PGA Tour, LIV Golf & DP World Tour Merger: Players Shocked and Angry

The PGA Tour and DP World Tour have agreed to merge with Saudi Arabian-backed circuit LIV Golf in a deal that ends the acrimonious split in the game.

BBC 6 JUNE 2023

Charl Schwartzel, pictured with Yasir Al-Rumayyan and LIV Golf chief executive Greg Norman, won the inaugural LIV event in England in June 2022

The surprise announcement comes after a year of unprecedented disruption in the men's game following the launch of LIV.

It means pending litigation between the tours will be halted and they will move forward as part of the same enterprise.

"This is a stunning development," said the BBC's golf correspondent Iain Carter.

"The PGA and DP World Tours were sworn enemies of the LIV circuit, which had poached some of their best players. They viewed the breakaway tour as an existential threat and entered into bitter and expensive legal action."

Making the announcement on Tuesday Jay Monahan, commissioner of the PGA Tour, golf's leading circuit, said: "This is a historic day for the game."

An agreement has been signed that will combine the PGA Tour and LIV's commercial operations and rights into a new, yet to be named for-profit company.

The agreement includes the DP World Tour, formerly known as the European Tour.

The emergence of the LIV circuit fractured men's professional golf over the last year, with several top players lured by its huge prize funds and no-cut events, which include a team format.

LIV Golf is backed by the Saudi Arabia Public Investment Fund (PIF), an entity controlled by the Saudi crown prince and which has been embroiled in anti-trust lawsuits with the PGA Tour over the last year.

"This is a momentous day - to partner in this new entity is energising and exciting," said DP World Tour chief executive Keith Pelley.

What Will Golf Now Look Like?

Monahan, his counterpart on the PGA Tour, said that a "comprehensive evaluation" of how best to integrate team golf will take place.

Yasir Al-Rumayyan is governor of the Saudi PIF, which is also the majority owner of Premier League club Newcastle United, who Al-Rumayyan serves as chairman. He will be chairman of the new commercial entity while Monahan will be chief executive.

Greg Norman has been a divisive figurehead as chief executive of LIV Golf but the former world number one was not mentioned during Tuesday's announcement.

"This transformational partnership recognises the immeasurable strength of the PGA Tour's history, legacy and pro-competitive model and combines with it the DP World Tour and LIV - including the team golf concept - to create an organisation that will benefit players, partners and fans," Monahan added.

"I applaud Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better."

A joint press release added that all parties will work in the months to come to finalise terms of the agreement.

Al-Rumayyan said: "We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans.

"There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition."

The next event of LIV's second season is due to take place on 30 June at Valderrama, Spain.

How Did We Get Here?

In late 2021, it was announced that LIV Golf, fronted by Norman, was to commit more than $200m (£145m) to 10 new Asian Tour events to be staged annually over the next decade.

In March 2022, LIV announced a $250m eight-event invitational series and then, in May 2022, Norman told BBC Sport that he had secured an extra £1.6bn of funding from the PIF to turn the series into a 14-event league by 2024.

The first event took place in June last year featuring star names including Dustin Johnson, Phil Mickelson and stalwarts of the European Ryder Cup team, including England's Ian Poulter and Lee Westwood.

In April, the DP World Tour won its legal battle against 12 LIV players who committed "serious breaches" of the Tour's code of behaviour by playing in LIV Golf events without its permission.

The subsequent increased fines and suspensions prompted Sergio Garcia, Poulter, Westwood and Henrik Stenson to resign their memberships and become ineligible for this year's Ryder Cup, which will take place from 29 September to 1 October.

Stenson had been selected as captain of the European team for the matches in Rome, but when he joined LIV he was sacked and replaced by Luke Donald.

Those players could now return to the fold, with the new enterprise pledging to establish a "fair and objective process" for players to re-apply for membership after the end of this season.

What Has Been The Reaction?

BIG BUCKS For Sneaky TRUMP; The latest event in LIV's 2023 season was played at Trumps' course in Sterling, Virginia.

The former US president said on social media: "Great news from LIV Golf. A big, beautiful and glamorous deal for the wonderful world of golf. Congrats to all."

Six-time major winner Phil Mickelson, one of the first big names to switch from the PGA Tour to LIV, added: "Awesome day today."

American golfer Michael Kim said: "The hell is going on? Very curious how many people knew this deal was happening. About 5-7 people? Player run organisation right?"

'Not likely to sit easily with the PIF's critics'

This is a stunning development that has taken the golf world by complete surprise. The PGA and DP World Tours were sworn enemies of the LIV circuit, which had poached some of their best players.

They viewed Greg Norman's breakaway tour as an existential threat and entered into bitter and expensive legal action. But this was becoming increasingly uncomfortable for LIV's Saudi Arabian backers, who faced the prospect of being interrogated under oath during the discovery process.

The PGA Tour were also looking at huge costs to finance a string of $20m (£16.1m) tournaments introduced to counter their new opposition and had already dipped into their reserves.

For both sides there was a significant peace dividend in a sport that could ill afford to be split in the first place. It is an extraordinary climbdown for the PGA and DP World Tours to acknowledge LIV as being "positively transformative for golf".

Nevertheless, this deal appears to signal Saudi Arabia's massive wealth as a unifying force for the men's professional game. That is not likely to sit easily with critics who have regarded the PIF's involvement with LIV as nothing more than sportswashing for a kingdom whose human rights record is often questioned.

How this will transform the game remains to be seen, but all sides will be happy the threat of legal action has gone away. LIV players also now have a pathway back into a more unified game.

Reaction To Tiger Woods Turning Down $800 MILLION To Play In Saudi Golf League

Ladybbird · 27-06-23, 08:35

Saudi Arabia Becomes Unlikely Sports Hub Amid Sportswashing Accusations

BBC NEWS 27 JUNE 2023

Saudi Arabia says its massive investment in sports is part of a larger strategy to transform its economy. Jon Wertheim investigates if it’s about transformation, or sportswashing human rights abuses.

Ladybbird · 20-07-23, 10:54

Jordan Henderson: Saudi Arabian Club Al-Ettifaq Agree Deal Worth £12m Plus Add-Ons For Liverpool Captain

Liverpool have agreed a deal in principle worth £12m plus add-ons to sell captain Jordan Henderson to Saudi Arabian club Al-Ettifaq.

BBC NEWS 20 JUL 2023

Henderson travelled to Germany with Liverpool for their training camp but was not involved in their 4-2 friendly win over Karlsruher.

The England midfielder, 33, has two years left on his contract at Anfield.

Former Liverpool captain Steven Gerrard was recently appointed as manager of Al-Ettifaq.

The agreement for Henderson follows Liverpool receiving a £40m offer from Al-Ittihad for fellow midfielder Fabinho last Friday.

Unlike Henderson, the 29-year-old Brazil international did not travel to Germany while his future is resolved.

A number of high-profile players have moved to Saudi Arabia this summer, including former Real Madrid striker Karim Benzema and ex-Chelsea midfielder N'Golo Kante.

Former Liverpool forward Roberto Firmino joined Al-Ahli after his Anfield contract expired, and Manchester City winger Riyad Mahrez has also been linked with the club.

Henderson joined Liverpool from Sunderland in a deal worth £20m in June 2011.

Henderson made 43 appearances for the Reds last season as they endured a disappointing campaign, finishing fifth in the Premier League and missing out on a place in the Champions League.

Overall, he has played 492 times for the Reds, scoring 33 goals and registering 57 assists.

Henderson was captain when Liverpool won the Champions League in 2019 before going on to win the Uefa Super Cup and Fifa Club World Cup later that year.

He was also the Reds skipper when the club won the 2019-20 Premier League title to end a 30-year wait for the English top-flight title.

Henderson's other honours at Liverpool include winning the FA Cup in 2022 and League Cup in 2012 and 2022.

MORE: Who is who in the Saudi Pro League

Ladybbird · 26-07-23, 07:19

Revealed: Saudi Arabias’ $6bn Spend on Sportswashing

Saudi Arabia has spent at least $6.3bn (£4.9bn) in sports deals since early 2021, more than quadruple the previous amount spent over a six-year period, in what critics have labelled an effort to distract from its human rights record.

The Guardian UK 26 JULY 2023

Saudi Arabia has deployed billions from its Public Investment Fund over the last two-and-a-half years according to analysis by the Guardian, spending on sports at a scale that has completely changed professional golf and transformed the international transfer market for football.

On Monday, the Saudi Arabian club Al Hilal submitted a world-record bid for the French captain, Kylian Mbappé, understood to be worth €300m (£259m).

The $6.3bn investment is almost equivalent to the GDP of Montenegro or the island of Barbados. It dwarfs data compiled by Grant Liberty two years ago, estimating that Saudi Arabia spent $1.5bn in the period between 2014 and early 2021.

Rights groups including Grant Liberty, Amnesty International and Human Rights Watch term such spending “sportswashing” – bankrolling big-name sporting events in order to distract from a poor record on human rights.

“Previously, sports figures and brands had rejected offers to engage with Saudi Arabia due to its well-documented human rights abuses,” said Grant Liberty. “However, there has been a worrisome shift in moral stance, as lucrative deals are now being accepted despite the ongoing and deteriorating violations.”

After the 2018 murder of journalist Jamal Khashoggi, Saudi Arabia was broadly shunned, with many major corporations withdrawing or pausing investments in the country.

But the past two years have seen a shift in how the kingdom is regarded internationally. Joe Biden, who once promised to make Saudi Arabia a “pariah” over the killing, travelled there last year, greeting the crown prince and de-facto leader, Mohammed bin Salman, with a controversial fist bump.

The Guardian has compiled and analysed a list of investments made by the Saudi Arabian Public Investment Fund – one of the 10 largest sovereign wealth funds in the world with assets estimated at $700bn – as well as other state bodies including the tourism authority, all signed since 2021. The $6.3bn total figure is probably an underestimate of the true amount, as the PIF is notoriously opaque about its finances, and details of some deals are not made public.

The purchase of Newcastle United in October 2021 by the PIF for $391m drew concerns from rights groups, notably Amnesty International, which criticised the club after leaked images showed changes to its away kit to match the colours of the Saudi national team.

Felix Jakens of Amnesty International said the choice “exposes the power of the Saudi dollar and the kingdom’s determination to sportswash its brutal, blood-soaked human rights record”.

A year later, the PIF stated its intention to spend $2.3bn on football sponsorships. This includes massive unspecified investments to buy majority stakes in four Saudi Arabian football teams. The four clubs have spent lavishly to attract players from around the world, particularly Al-Nassr, which signed star player Cristiano Ronaldo for a reported $200m annually, making him the world’s highest paid athlete.

Ronaldo’s signing last season has been followed by a host of stars and coaches including Karim Benzema from Real Madrid, N’Golo Kanté from Chelsea, Roberto Firmino from Liverpool, and the former Aston Villa manager Steven Gerrard.

The footballer Lionel Messi is reportedly paid an estimated $25m by the Saudi Arabian tourism authority for his promotion of the country, including posting about lavish trips on social media. He received an offer from Al Hilal of £350m but instead opted for the US MLS team Inter Miami.

In February this year, Saudi Arabia announced it would host the 2023 Fifa Club World Cup.

The PIF has also made major investments that have upended golf, and now make Saudi Arabia perhaps the most influential force in the sport. In October 2021, the fund invested an estimated $2bn to create LIV golf, a major tournament.

The move set off a bitter rivalry with the PGA tour, which took legal action claiming that the Saudi-funded project was luring players to breach their existing commitments. One lawsuit accused LIV of a campaign to use “astronomical sums of money … in an effort to use the LIV players and the game of golf to sportswash the recent history of Saudi atrocities and to further the Saudi Public Investment Fund’s … initiatives”.

The feud ended in dramatic fashion with an effective takeover of the PGA to create a conglomerate to dominate professional golf. The governor of PIF, Yasir al-Rumayyan, is slated to be the chair.

A PGA executive told the US Congress this month that the sovereign wealth fund would invest “north of $1bn” in the new body. The deal is being investigated by a US Senate committee.

Some of the kingdom’s other investments include boxing and motor sports. This year, YouTuber-turned-boxer Jake Paul fought Tommy Fury in Riyadh for payments of $3.2m and $2m respectively, plus a share of the pay-per-view revenue. The kingdom also paid an estimated $60m to host a heavyweight match between Oleksandr Usyk and Anthony Joshua in 2022.

In 2021, PIF invested in a $550m sponsorship of McLaren Group Ltd, a Bahraini-owned company based in Woking which is a major part of Formula One through its manufacture of racing cars. The $6.3bn figure, however, does not include the $40-45m which state-owned oil giant Aramco spends annually to sponsor Formula One, or other contracts signed prior to 2021 such as $65m to hold an annual Grand Prix in the kingdom.

The total also excludes the PIF’s extensive spending in the world of e-sports, including a recent $1bn investment in video game company Embracer Group, and sporting events where the sponsorship amount is unknown, such as a March 2021 four-year deal between the planned city of Neom on the Red Sea coast and the Asian Football Confederation.

Ladybbird · 30-08-23, 04:13

Saudi Arabias' Multi-Billion Dollar Football Powerhouse Bet

Saudi Arabia Has Attracted Some of The Biggest Football Stars in The World

BBC 30 AUG 2023

Al Hilal club is Saudi Arabias' most decorated football team having won 66 trophies. They have also won the AFC Champions League a record four times, making the Riyadh-based club the most successful team in Asia.

Despite its impressive history, for many supporters, 19 August 2023 marked the beginning of a new era for the club when Neymar Junior was unveiled in front of more than 65,000 ecstatic fans.

A volley of fireworks, followed by a drone show projecting Neymars' face, lit up Riyadh's sky as the Brazilian forward walked onto the pitch wearing the club's traditional dark blue kit.

"It is a very special day for us. Neymar is a mega star. He will bring in a lot of fans to Al Hilal. I think the whole of Brazil will support us now. The club will be known everywhere," Al Hilal fan Abdullah Almutawa told the BBC, who came to witness the ceremony.

The ambitious project to make Saudi Arabia an international football hub started with the arrival of Cristiano Ronaldo at Al Nassr in January on a two-and-a-half-year deal said to be worth over $400m (£318m or 370m euros) in wages.

This opened the floodgates for a jaw-dropping summer transfer window with the Saudi league snapping up some of the biggest names in the sport. Karim Benzema was the next big signing in June when he moved to Jeddah-based Al Ittihad from Real Madrid.

Since then, a host of prominent names including Sadio Mane, Riyad Mahrez, Jordan Henderson, N'Golo Kante, have swapped European leagues for the Saudi Pro League.

During the summer, the Saudi Pro League spent more than $900m on transfer fees to acquire foreign players, making it the second-highest spender after the English Premier League. The figure does not include the eye-watering salaries offered to lure players primarily from top European leagues.

And this is not a one-off splash, according to the league's chief operating officer, Carlo Nohra. The Saudi Arabian government has given a commitment to financially back the league until it achieves its goal of becoming one of the top leagues in the world in terms of revenues and quality.

The Saudi Pro League aims to compete with the likes of the English Premier League, and La Liga.

Mr Nohra says they will continue spending big to attract foreign players until the league achieves its objective, but it is also simultaneously working towards unlocking the commercial value that's on offer.

"While we have the commitment of getting support until however long it takes to achieve our goals, it is important for us to make ourselves commercially viable so that we are responsible for our own financial growth and not completely dependent on government capital," Mr Nohra told the BBC.
Soft power

The world's biggest oil exporter has invested billions of dollars in sport, including revamping the Saudi Pro league, Formula One and the lucrative LIV Golf. Some critics have described it as "sportswashing" to distract people from its poor human rights record.

The desert kingdom is expanding into entertainment as a way of diversifying its economy

But some experts believe that managing image and reputation is not the only reason behind Saudi Arabia's strategy. According to Simon Chadwick, professor of Sport and Geopolitical Economy at Skema Business School in Paris, "nations across the world used sports and entertainment as a policy tool to project soft power".

"It's one element of a policy armoury that Saudi Arabia is currently deploying. We are talking about a contest between nations to win the hearts and minds of people globally. Britain, the United States, France, India and so many other countries have implemented this policy. Now the Saudis are doing the same," adds Prof Chadwick

The second key objective behind Saudi Arabia's spending spree is that it is part of a broader push to reinvent its economy before oil revenues start dwindling. Currently, they make up for more than 40% of the Saudi gross domestic product, or GDP.

Sports is one of the main pillars of the government's Vision 2030 project driven by the kingdom's de facto ruler Crown Prince Mohammed bin Salman. The economic diversification programme is focused on reducing the country's reliance on fossil fuel revenues by building new industries and generating jobs.

"One of the objectives is to deliver entertainment for the Saudi population as part of Vision 2030 and at the same time, also develop local talent that would enhance the level of the Saudi Pro League in the long run," says Mr Nohra.

Saudi Arabia is a football loving nation with 80% of the population either playing, watching, or following the sport. It is still early to judge whether these bold investments will pay off, but the strategy has demonstrated the Gulf nations' strong desire to become a football powerhouse.

Ladybbird · 27-10-23, 07:47

Robbie Fowler Sacked by Saudi Side After Four Months Despite Being Second

Saudi Arabian First Division side Al Qadsiah have sacked Robbie Fowler as their manager and appointed Real Madrid legend Michel as his replacement, despite the club sitting second in the league

BBC 27 OCT 2023

Liverpool legend Robbie Fowler has been sacked by Saudi Arabian second-tier club Al Qadsiah, despite an unbeaten start to the season.

Fowler was appointed manager just four months ago, having previously coached Thai side Muangthong United, Australian outfit Brisbane Roar and Indian club East Bengal. And Al Qadsiah have made an excellent start to the new campaign under Fowler, earning six wins and two draws.

They currently sit second in the Saudi First Division, just one point behind league leaders Al Orobah, but have inexplicably decided to change the manager. In a statement on social media, the club said:

"The management of Al Qadsiah Sports Club have decided to terminate the contractual relationship with first team football coach, Mr. Robbie Fowler. The club appreciates the coach's efforts and professionalism... and wishes him all the success in his professional career."

Fowler, meanwhile, will now been looking for a new job having been open about his managerial ambitions in his regular column for Mirror Football. Back in July, Fowler wrote: "I have taken a job in the league below the Saudi Pro League because I am ambitious to become a manager, because I want to prove myself.

"I've not been been given that chance in the UK. You look at my record, and I've done well wherever I've been, despite inheriting teams who were struggling before I arrived. This is my fourth head coach job now, and I back myself to succeed in this business.

"I know people will laugh, but when I went to coach in Australia, I gave myself a five-year plan to manage in the Premier League. Yeah, you can mock, but in half a season I took a side languishing at the bottom to the top places.

"Covid absolutely ruined it of course, but it shows the desire I have to succeed. It shows the ambition and belief I have... and you don't fulfil your ambition by sitting in front of your TV watching everyone else get jobs while you don't.

"So I've gone out and backed myself. It's obvious now no one is going to give me an opportunity at home... I've applied for so many positions and not got anywhere. So I've found a project where the team can grow and my coaching can develop.

"*That happens to be in Saudi Arabia, and it is an exciting project. But it's not about money, believe me. I came to offer my experience, to build a team just as we did in Australia, in India, and Thailand. Each of the clubs we worked with, improved beyond all recognition."

08-10-21, 09:14	#1
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	Why Saudi Arabia is Spending Billions on Football UK: Newcastle United Takeover Confirmed as Saudi Arabia Complete £305m Deal Newcastle United's Saudi-led takeover has been confirmed after a deal was agreed between the two parties alongside the Premier League after an 18-month long saga BBC News 8 OCT 2021. Crown Prince Mohamed bin Salman chairs the Saudi Public Investment Fund (PIF)(PA) Newcastle United has officially been bought by Saudi Arabia for £305m - with a vow to take the club back to the Champions League. Mike Ashley’s 14 year reign at St James’ Park is over, and the Toon are now owned by the richest backers in football. The Geordie club is now set for a new era which - given the riches available from the Public Investment Fund of Saudi Arabia - will once again see United mix it with the elite. Newcastle fans have hailed the deal - which was secretly revived over the last few weeks - as transformative for the club and potentially the North East region. __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

06-06-23, 22:10	#2
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	PGA Tour & DP World Tour Agree SHOCK Merger With LIV SAUDI ARABIA PGA Tour & DP World Tour Agree Shock Merger With LIV Golf to End Split in Golf PGA Tour, LIV Golf & DP World Tour Merger: Players Shocked and Angry The PGA Tour and DP World Tour have agreed to merge with Saudi Arabian-backed circuit LIV Golf in a deal that ends the acrimonious split in the game. BBC 6 JUNE 2023 Charl Schwartzel, pictured with Yasir Al-Rumayyan and LIV Golf chief executive Greg Norman, won the inaugural LIV event in England in June 2022 The surprise announcement comes after a year of unprecedented disruption in the men's game following the launch of LIV. It means pending litigation between the tours will be halted and they will move forward as part of the same enterprise. "This is a stunning development," said the BBC's golf correspondent Iain Carter. "The PGA and DP World Tours were sworn enemies of the LIV circuit, which had poached some of their best players. They viewed the breakaway tour as an existential threat and entered into bitter and expensive legal action." Making the announcement on Tuesday Jay Monahan, commissioner of the PGA Tour, golf's leading circuit, said: "This is a historic day for the game." An agreement has been signed that will combine the PGA Tour and LIV's commercial operations and rights into a new, yet to be named for-profit company. The agreement includes the DP World Tour, formerly known as the European Tour. The emergence of the LIV circuit fractured men's professional golf over the last year, with several top players lured by its huge prize funds and no-cut events, which include a team format. LIV Golf is backed by the Saudi Arabia Public Investment Fund (PIF), an entity controlled by the Saudi crown prince and which has been embroiled in anti-trust lawsuits with the PGA Tour over the last year. "This is a momentous day - to partner in this new entity is energising and exciting," said DP World Tour chief executive Keith Pelley. What Will Golf Now Look Like? Monahan, his counterpart on the PGA Tour, said that a "comprehensive evaluation" of how best to integrate team golf will take place. Yasir Al-Rumayyan is governor of the Saudi PIF, which is also the majority owner of Premier League club Newcastle United, who Al-Rumayyan serves as chairman. He will be chairman of the new commercial entity while Monahan will be chief executive. Greg Norman has been a divisive figurehead as chief executive of LIV Golf but the former world number one was not mentioned during Tuesday's announcement. "This transformational partnership recognises the immeasurable strength of the PGA Tour's history, legacy and pro-competitive model and combines with it the DP World Tour and LIV - including the team golf concept - to create an organisation that will benefit players, partners and fans," Monahan added. "I applaud Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better." A joint press release added that all parties will work in the months to come to finalise terms of the agreement. Al-Rumayyan said: "We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans. "There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition." The next event of LIV's second season is due to take place on 30 June at Valderrama, Spain. How Did We Get Here? In late 2021, it was announced that LIV Golf, fronted by Norman, was to commit more than $200m (£145m) to 10 new Asian Tour events to be staged annually over the next decade. In March 2022, LIV announced a $250m eight-event invitational series and then, in May 2022, Norman told BBC Sport that he had secured an extra £1.6bn of funding from the PIF to turn the series into a 14-event league by 2024. The first event took place in June last year featuring star names including Dustin Johnson, Phil Mickelson and stalwarts of the European Ryder Cup team, including England's Ian Poulter and Lee Westwood. In April, the DP World Tour won its legal battle against 12 LIV players who committed "serious breaches" of the Tour's code of behaviour by playing in LIV Golf events without its permission. The subsequent increased fines and suspensions prompted Sergio Garcia, Poulter, Westwood and Henrik Stenson to resign their memberships and become ineligible for this year's Ryder Cup, which will take place from 29 September to 1 October. Stenson had been selected as captain of the European team for the matches in Rome, but when he joined LIV he was sacked and replaced by Luke Donald. Those players could now return to the fold, with the new enterprise pledging to establish a "fair and objective process" for players to re-apply for membership after the end of this season. What Has Been The Reaction? BIG BUCKS For Sneaky TRUMP; The latest event in LIV's 2023 season was played at Trumps' course in Sterling, Virginia. The former US president said on social media: "Great news from LIV Golf. A big, beautiful and glamorous deal for the wonderful world of golf. Congrats to all." Six-time major winner Phil Mickelson, one of the first big names to switch from the PGA Tour to LIV, added: "Awesome day today." American golfer Michael Kim said: "The hell is going on? Very curious how many people knew this deal was happening. About 5-7 people? Player run organisation right?" 'Not likely to sit easily with the PIF's critics' This is a stunning development that has taken the golf world by complete surprise. The PGA and DP World Tours were sworn enemies of the LIV circuit, which had poached some of their best players. They viewed Greg Norman's breakaway tour as an existential threat and entered into bitter and expensive legal action. But this was becoming increasingly uncomfortable for LIV's Saudi Arabian backers, who faced the prospect of being interrogated under oath during the discovery process. The PGA Tour were also looking at huge costs to finance a string of $20m (£16.1m) tournaments introduced to counter their new opposition and had already dipped into their reserves. For both sides there was a significant peace dividend in a sport that could ill afford to be split in the first place. It is an extraordinary climbdown for the PGA and DP World Tours to acknowledge LIV as being "positively transformative for golf". Nevertheless, this deal appears to signal Saudi Arabia's massive wealth as a unifying force for the men's professional game. That is not likely to sit easily with critics who have regarded the PIF's involvement with LIV as nothing more than sportswashing for a kingdom whose human rights record is often questioned. How this will transform the game remains to be seen, but all sides will be happy the threat of legal action has gone away. LIV players also now have a pathway back into a more unified game. Reaction To Tiger Woods Turning Down $800 MILLION To Play In Saudi Golf League __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

27-06-23, 08:35	#3
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	Saudi Arabian Club Al-Ettifaq Buys Liverpool FC Captain For £12m Saudi Arabia Becomes Unlikely Sports Hub Amid Sportswashing Accusations BBC NEWS 27 JUNE 2023 Saudi Arabia says its massive investment in sports is part of a larger strategy to transform its economy. Jon Wertheim investigates if it’s about transformation, or sportswashing human rights abuses. __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

20-07-23, 10:54	#4
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	re: Why Saudi Arabia is Spending Billions on Football Jordan Henderson: Saudi Arabian Club Al-Ettifaq Agree Deal Worth £12m Plus Add-Ons For Liverpool Captain Liverpool have agreed a deal in principle worth £12m plus add-ons to sell captain Jordan Henderson to Saudi Arabian club Al-Ettifaq. BBC NEWS 20 JUL 2023 Henderson travelled to Germany with Liverpool for their training camp but was not involved in their 4-2 friendly win over Karlsruher. The England midfielder, 33, has two years left on his contract at Anfield. Former Liverpool captain Steven Gerrard was recently appointed as manager of Al-Ettifaq. The agreement for Henderson follows Liverpool receiving a £40m offer from Al-Ittihad for fellow midfielder Fabinho last Friday. Unlike Henderson, the 29-year-old Brazil international did not travel to Germany while his future is resolved. A number of high-profile players have moved to Saudi Arabia this summer, including former Real Madrid striker Karim Benzema and ex-Chelsea midfielder N'Golo Kante. Former Liverpool forward Roberto Firmino joined Al-Ahli after his Anfield contract expired, and Manchester City winger Riyad Mahrez has also been linked with the club. Henderson joined Liverpool from Sunderland in a deal worth £20m in June 2011. Henderson made 43 appearances for the Reds last season as they endured a disappointing campaign, finishing fifth in the Premier League and missing out on a place in the Champions League. Overall, he has played 492 times for the Reds, scoring 33 goals and registering 57 assists. Henderson was captain when Liverpool won the Champions League in 2019 before going on to win the Uefa Super Cup and Fifa Club World Cup later that year. He was also the Reds skipper when the club won the 2019-20 Premier League title to end a 30-year wait for the English top-flight title. Henderson's other honours at Liverpool include winning the FA Cup in 2022 and League Cup in 2012 and 2022. MORE: Who is who in the Saudi Pro League __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

26-07-23, 07:19	#5
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	re: Why Saudi Arabia is Spending Billions on Football Revealed: Saudi Arabias’ $6bn Spend on Sportswashing Saudi Arabia has spent at least $6.3bn (£4.9bn) in sports deals since early 2021, more than quadruple the previous amount spent over a six-year period, in what critics have labelled an effort to distract from its human rights record. The Guardian UK 26 JULY 2023 Saudi Arabia has deployed billions from its Public Investment Fund over the last two-and-a-half years according to analysis by the Guardian, spending on sports at a scale that has completely changed professional golf and transformed the international transfer market for football. On Monday, the Saudi Arabian club Al Hilal submitted a world-record bid for the French captain, Kylian Mbappé, understood to be worth €300m (£259m). The $6.3bn investment is almost equivalent to the GDP of Montenegro or the island of Barbados. It dwarfs data compiled by Grant Liberty two years ago, estimating that Saudi Arabia spent $1.5bn in the period between 2014 and early 2021. Rights groups including Grant Liberty, Amnesty International and Human Rights Watch term such spending “sportswashing” – bankrolling big-name sporting events in order to distract from a poor record on human rights. “Previously, sports figures and brands had rejected offers to engage with Saudi Arabia due to its well-documented human rights abuses,” said Grant Liberty. “However, there has been a worrisome shift in moral stance, as lucrative deals are now being accepted despite the ongoing and deteriorating violations.” After the 2018 murder of journalist Jamal Khashoggi, Saudi Arabia was broadly shunned, with many major corporations withdrawing or pausing investments in the country. But the past two years have seen a shift in how the kingdom is regarded internationally. Joe Biden, who once promised to make Saudi Arabia a “pariah” over the killing, travelled there last year, greeting the crown prince and de-facto leader, Mohammed bin Salman, with a controversial fist bump. The Guardian has compiled and analysed a list of investments made by the Saudi Arabian Public Investment Fund – one of the 10 largest sovereign wealth funds in the world with assets estimated at $700bn – as well as other state bodies including the tourism authority, all signed since 2021. The $6.3bn total figure is probably an underestimate of the true amount, as the PIF is notoriously opaque about its finances, and details of some deals are not made public. The purchase of Newcastle United in October 2021 by the PIF for $391m drew concerns from rights groups, notably Amnesty International, which criticised the club after leaked images showed changes to its away kit to match the colours of the Saudi national team. Felix Jakens of Amnesty International said the choice “exposes the power of the Saudi dollar and the kingdom’s determination to sportswash its brutal, blood-soaked human rights record”. A year later, the PIF stated its intention to spend $2.3bn on football sponsorships. This includes massive unspecified investments to buy majority stakes in four Saudi Arabian football teams. The four clubs have spent lavishly to attract players from around the world, particularly Al-Nassr, which signed star player Cristiano Ronaldo for a reported $200m annually, making him the world’s highest paid athlete. Ronaldo’s signing last season has been followed by a host of stars and coaches including Karim Benzema from Real Madrid, N’Golo Kanté from Chelsea, Roberto Firmino from Liverpool, and the former Aston Villa manager Steven Gerrard. The footballer Lionel Messi is reportedly paid an estimated $25m by the Saudi Arabian tourism authority for his promotion of the country, including posting about lavish trips on social media. He received an offer from Al Hilal of £350m but instead opted for the US MLS team Inter Miami. In February this year, Saudi Arabia announced it would host the 2023 Fifa Club World Cup. The PIF has also made major investments that have upended golf, and now make Saudi Arabia perhaps the most influential force in the sport. In October 2021, the fund invested an estimated $2bn to create LIV golf, a major tournament. The move set off a bitter rivalry with the PGA tour, which took legal action claiming that the Saudi-funded project was luring players to breach their existing commitments. One lawsuit accused LIV of a campaign to use “astronomical sums of money … in an effort to use the LIV players and the game of golf to sportswash the recent history of Saudi atrocities and to further the Saudi Public Investment Fund’s … initiatives”. The feud ended in dramatic fashion with an effective takeover of the PGA to create a conglomerate to dominate professional golf. The governor of PIF, Yasir al-Rumayyan, is slated to be the chair. A PGA executive told the US Congress this month that the sovereign wealth fund would invest “north of $1bn” in the new body. The deal is being investigated by a US Senate committee. Some of the kingdom’s other investments include boxing and motor sports. This year, YouTuber-turned-boxer Jake Paul fought Tommy Fury in Riyadh for payments of $3.2m and $2m respectively, plus a share of the pay-per-view revenue. The kingdom also paid an estimated $60m to host a heavyweight match between Oleksandr Usyk and Anthony Joshua in 2022. In 2021, PIF invested in a $550m sponsorship of McLaren Group Ltd, a Bahraini-owned company based in Woking which is a major part of Formula One through its manufacture of racing cars. The $6.3bn figure, however, does not include the $40-45m which state-owned oil giant Aramco spends annually to sponsor Formula One, or other contracts signed prior to 2021 such as $65m to hold an annual Grand Prix in the kingdom. The total also excludes the PIF’s extensive spending in the world of e-sports, including a recent $1bn investment in video game company Embracer Group, and sporting events where the sponsorship amount is unknown, such as a March 2021 four-year deal between the planned city of Neom on the Red Sea coast and the Asian Football Confederation. __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

30-08-23, 04:13	#6
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	Re: Why Saudi Arabia is Spending Billions on Football Saudi Arabias' Multi-Billion Dollar Football Powerhouse Bet Saudi Arabia Has Attracted Some of The Biggest Football Stars in The World BBC 30 AUG 2023 Al Hilal club is Saudi Arabias' most decorated football team having won 66 trophies. They have also won the AFC Champions League a record four times, making the Riyadh-based club the most successful team in Asia. Despite its impressive history, for many supporters, 19 August 2023 marked the beginning of a new era for the club when Neymar Junior was unveiled in front of more than 65,000 ecstatic fans. A volley of fireworks, followed by a drone show projecting Neymars' face, lit up Riyadh's sky as the Brazilian forward walked onto the pitch wearing the club's traditional dark blue kit. "It is a very special day for us. Neymar is a mega star. He will bring in a lot of fans to Al Hilal. I think the whole of Brazil will support us now. The club will be known everywhere," Al Hilal fan Abdullah Almutawa told the BBC, who came to witness the ceremony. The ambitious project to make Saudi Arabia an international football hub started with the arrival of Cristiano Ronaldo at Al Nassr in January on a two-and-a-half-year deal said to be worth over $400m (£318m or 370m euros) in wages. This opened the floodgates for a jaw-dropping summer transfer window with the Saudi league snapping up some of the biggest names in the sport. Karim Benzema was the next big signing in June when he moved to Jeddah-based Al Ittihad from Real Madrid. Since then, a host of prominent names including Sadio Mane, Riyad Mahrez, Jordan Henderson, N'Golo Kante, have swapped European leagues for the Saudi Pro League. During the summer, the Saudi Pro League spent more than $900m on transfer fees to acquire foreign players, making it the second-highest spender after the English Premier League. The figure does not include the eye-watering salaries offered to lure players primarily from top European leagues. And this is not a one-off splash, according to the league's chief operating officer, Carlo Nohra. The Saudi Arabian government has given a commitment to financially back the league until it achieves its goal of becoming one of the top leagues in the world in terms of revenues and quality. The Saudi Pro League aims to compete with the likes of the English Premier League, and La Liga. Mr Nohra says they will continue spending big to attract foreign players until the league achieves its objective, but it is also simultaneously working towards unlocking the commercial value that's on offer. "While we have the commitment of getting support until however long it takes to achieve our goals, it is important for us to make ourselves commercially viable so that we are responsible for our own financial growth and not completely dependent on government capital," Mr Nohra told the BBC. Soft power The world's biggest oil exporter has invested billions of dollars in sport, including revamping the Saudi Pro league, Formula One and the lucrative LIV Golf. Some critics have described it as "sportswashing" to distract people from its poor human rights record. The desert kingdom is expanding into entertainment as a way of diversifying its economy But some experts believe that managing image and reputation is not the only reason behind Saudi Arabia's strategy. According to Simon Chadwick, professor of Sport and Geopolitical Economy at Skema Business School in Paris, "nations across the world used sports and entertainment as a policy tool to project soft power". "It's one element of a policy armoury that Saudi Arabia is currently deploying. We are talking about a contest between nations to win the hearts and minds of people globally. Britain, the United States, France, India and so many other countries have implemented this policy. Now the Saudis are doing the same," adds Prof Chadwick The second key objective behind Saudi Arabia's spending spree is that it is part of a broader push to reinvent its economy before oil revenues start dwindling. Currently, they make up for more than 40% of the Saudi gross domestic product, or GDP. Sports is one of the main pillars of the government's Vision 2030 project driven by the kingdom's de facto ruler Crown Prince Mohammed bin Salman. The economic diversification programme is focused on reducing the country's reliance on fossil fuel revenues by building new industries and generating jobs. "One of the objectives is to deliver entertainment for the Saudi population as part of Vision 2030 and at the same time, also develop local talent that would enhance the level of the Saudi Pro League in the long run," says Mr Nohra. Saudi Arabia is a football loving nation with 80% of the population either playing, watching, or following the sport. It is still early to judge whether these bold investments will pay off, but the strategy has demonstrated the Gulf nations' strong desire to become a football powerhouse. __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

27-10-23, 07:47	#7
Ladybbird Join Date: Feb 2011 Posts: 47,639 Thanks: 27,645 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	Re: Why Saudi Arabia is Spending Billions on Football Robbie Fowler Sacked by Saudi Side After Four Months Despite Being Second Saudi Arabian First Division side Al Qadsiah have sacked Robbie Fowler as their manager and appointed Real Madrid legend Michel as his replacement, despite the club sitting second in the league BBC 27 OCT 2023 Liverpool legend Robbie Fowler has been sacked by Saudi Arabian second-tier club Al Qadsiah, despite an unbeaten start to the season. Fowler was appointed manager just four months ago, having previously coached Thai side Muangthong United, Australian outfit Brisbane Roar and Indian club East Bengal. And Al Qadsiah have made an excellent start to the new campaign under Fowler, earning six wins and two draws. They currently sit second in the Saudi First Division, just one point behind league leaders Al Orobah, but have inexplicably decided to change the manager. In a statement on social media, the club said: "The management of Al Qadsiah Sports Club have decided to terminate the contractual relationship with first team football coach, Mr. Robbie Fowler. The club appreciates the coach's efforts and professionalism... and wishes him all the success in his professional career." Fowler, meanwhile, will now been looking for a new job having been open about his managerial ambitions in his regular column for Mirror Football. Back in July, Fowler wrote: "I have taken a job in the league below the Saudi Pro League because I am ambitious to become a manager, because I want to prove myself. "I've not been been given that chance in the UK. You look at my record, and I've done well wherever I've been, despite inheriting teams who were struggling before I arrived. This is my fourth head coach job now, and I back myself to succeed in this business. "I know people will laugh, but when I went to coach in Australia, I gave myself a five-year plan to manage in the Premier League. Yeah, you can mock, but in half a season I took a side languishing at the bottom to the top places. "Covid absolutely ruined it of course, but it shows the desire I have to succeed. It shows the ambition and belief I have... and you don't fulfil your ambition by sitting in front of your TV watching everyone else get jobs while you don't. "So I've gone out and backed myself. It's obvious now no one is going to give me an opportunity at home... I've applied for so many positions and not got anywhere. So I've found a project where the team can grow and my coaching can develop. "That happens to be in Saudi Arabia, and it is an exciting project. But it's not about money, believe me. I came to offer my experience, to build a team just as we did in Australia, in India, and Thailand. Each of the clubs we worked with, improved beyond all recognition." __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL* ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

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