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Governing Bodies

UEFA WEIGHS $9.6 BILLION CENTRICUS DEAL TO STOP BREAKAWAY SUPER LEAGUE

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Uefa is working with Centricus on a plan to fund a new-look Uefa Champions League tournament. PHOTO: REUTERS

UEFA is in discussions with Centricus Asset Management over a €6 billion (S$9.6 billion) financing package to overhaul its flagship football tournament and stop plans for a new breakaway Super League,   according to people familiar with the matter.

The Switzerland-based sporting body is working with Centricus on a plan to fund a new-look Uefa Champions League tournament, the people said, asking not to be identified discussing confidential information.

Negotiations are ongoing and there is no certainty that the Union of European Football Associations and London-based Centricus will reach an agreement, according to the people. A representative for Centricus declined to comment, while a spokesman for Uefa did not immediately respond to a request for comment.

It comes as Uefa prepares to battle with a new Super League that could mark the biggest upheaval of European football since the 1950s and end the Champions League’s decades-long reign as the world’s premier club contest.

A group of the world’s richest football clubs, including Manchester United and Real Madrid, announced plans for the breakaway league starting in August in a statement early on Monday (April 19).

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The marquee names – six from England, three from Italy and three from Spain have signed up so far – would play each other midweek as an alternative to the Uefa tournament. In addition to what will be 15 permanent teams, another five will qualify each year for the Super League.

The €4 billion plan, which is being bankrolled by JP Morgan Chase & Co, has already drawn heavy criticism from domestic leagues and politicians. Uefa has said it could ban Super League team players from national teams  that take part in the European Championship and World Cup.

Centricus has been in talks with Uefa for a number of months regarding financing, a person familiar with the matter said. The investment firm had discussed an initial package of about €4.2 billion, which was raised to €6 billion following the rival Super League proposal, the person said.

Centricus, which oversees about US$30 billion (S$39.8 billion) in assets, according to its website, is well connected to large, wealthy institutions in the Middle East and Asia, and helped SoftBank Group raise US$100 billion for its massive Vision Fund.

The firm was started in 2016 by Mr Nizar Al-Bassam, a former investment banker at Deutsche Bank, and former Goldman Sachs Group partner Dalinc Ariburnu.

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Despite running a small team from London, Centricus has become known for a string of opportunistic deals. It is currently working with Indian commodities tycoon Anil Agarwal on a plan to invest US$10 billion in turnaround opportunities in India, and last year made a last-minute pitch to buy TikTok’s operations in several countries for US$20 billion. In 2019, it made a foray into the high-end hotel and resorts sector and bought the iconic Capri Palace Hotel and Spa.

Within the sports industry, Centricus was also part of a consortium, alongside SoftBank and Fifa, to launch a brace of new football tournaments, and has held talks to invest in Swiss club FC Basel.

Proponents argue that the Super League would create a more exciting competition because the game’s very top teams would play each other more often. It would also be lucrative for them, with permanent membership removing the uncertainty of the Champions League, whose teams must qualify annually or risk losing broadcasting and sponsorship revenue.

But the idea of creating a competition that removes the drama of a smaller team such as four-time champions Ajax winning the trophy, or of a bigger club having to qualify in the first place, has angered supporter groups and former players, who say it rides roughshod over the history and culture of the club game.

Even if the Super League plan is stopped by its opponents, it represents a powerful threat that could help the clubs win more concessions from Uefa.

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The body’s plans to expand the Champions League from 32 to 36 teams and increase the number of games have irked some teams complaining the season already has too many matches.

-Bloomberg

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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Governing Bodies

Zimbabwe sports minister among candidates for International Olympic Committee presidency

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A total of seven candidates are running for the presidency of the International Olympic Committee with the winner replacing outgoing president Thomas Bach at elections in March 2025 in ancient Olympia, Greece.

Kirsty Coventry:

Age: 41

Country: Zimbabwe

Entry into the IOC: 2013

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An Olympic swimming champion and Zimbabwe’s most successful Olympian, Coventry is Zimbabwe’s Sports Minister. She is the only woman among the candidates and the only one from Africa.

Prince Feisal Al Hussein:

Age: 60

Country: Jordan

Entry into the IOC: 2010

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Prince Feisal heads the Jordan Olympic Committee and has been an IOC executive board member since 2019. An Executive Board member of the Olympic Council of Asia, Prince Feisal has also held several posts at the Royal Jordanian Air Force.

Sebastian Coe:

Age: 67

Country: Britain

Entry into the IOC: 2020

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An Olympic track and field champion and head of World Athletics, Coe also led the organisation for the 2012 London Olympics. A former Conservative Member of Parliament, Coe is also involved in sports consultancy and is a former head of the British Olympic Association.

Johan Eliasch:

Age: 62

Country: Britain

Entry into the IOC: 2024

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The wealthy Swedish-born entrepreneur with a variety of business interests has headed the international skiing federation since 2021. He only joined the IOC in July at its session in the Paris Olympics.

David Lappartient:

Age: 51

Country: France

Entry into the IOC: 2022

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A rising figure in world sports administration. He heads the international cycling body, UCI, and is in charge of esports within the IOC, having helped seal a 12-year deal with Saudi Arabia earlier this year for the Olympic esports Games.

Juan Antonio Samaranch:

Age: 64

Country: Spain

Entry into the IOC: 2001

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The son of the late former IOC president, Samaranch has considerable IOC experience and influence in his six years as vice president and 23 as a member. He headed the coordination commission for the Beijing 2022 Winter Olympics.

Morinari Watanabe:

Age: 65

Country: Japan

Entry into the IOC: 2018

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Watanabe has headed the gymnastics federation (FIG) since 2016, having been re-elected twice since. He is the first Japanese candidate to run for the IOC presidency.

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Governing Bodies

World Athletics boss, Coe and multi-millionaire Eliasch among seven candidates for IOC presidency

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Paris 2024 Olympics - Athletics - Women's Marathon Victory Ceremony - Stade de France, Saint-Denis, France - August 11, 2024. World Athletics President Sebastian Coe and International Olympic Committee (IOC) President Thomas Bach during the medal ceremony REUTERS/Phil Noble/File Photo 

World athletics chief Sebastian Coe, multi-millionaire and Olympic newcomer Johan Eliasch and Zimbabwe’s Sports Minister Kirsty Coventry are among seven candidates for next year’s International Olympic Committee presidency election, the IOC said on Monday.

IOC Vice President Juan Antonio Samaranch, son of the late former IOC president, international cycling chief David Lappartient, Prince Feisal Al Hussein of Jordan and international gymnastics federation head Morinari Watanabe are also in the running to succeed current president Thomas Bach.

The 70-year-old German is stepping down next year after 12 years at the helm. The election will be held at the IOC session in ancient Olympia, Greece in March 2025.

The candidates will all present their programmes, behind closed doors, to the full IOC membership in January 2025.

The IOC, with 111 members currently, is in charge of the Olympic Games and the multi-billion dollar industry linked to the world’s biggest multi-sports event.

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Bach’s departure comes with the organisation in a financially robust position, having secured $7.3 billion for the years 2025-28 and $6.2 billion already in deals for 2029-2032.

The president is elected to an eight-year first term with the possibility of a second term of four years, if re-elected.

Coe, 67, only joined the IOC in 2020 after a rocky relationship between World Athletics and the IOC over Coe’s ban of Russian track and field athletes almost a decade ago following the country’s doping scandal.

A former Olympic champion with a wealth of experience in the sports world, Coe was previously head of the London 2012 Games and the British Olympic Association. He is also a former Conservative Member of Parliament.

Coventry, 41, is the only woman running for president and the former Olympic swimming champion, who is Zimbabwe’s most decorated Olympian, could become not only the first female president but also the first from Africa.

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MALE PRESIDENTS

All IOC presidents have been men, with eight of the nine from Europe and one from the United States.

The 62-year-old Eliasch, head of the International Ski and Snowboard Federation (FIS), only joined the IOC in July, with the Swedish-born British businessman’s candidacy a surprise for some.

Prince Feisal, 60, is a member of the IOC executive board, having joined the organisation in 2010, while Spaniard Samaranch, with considerable IOC experience in his six years as vice president, headed the coordination commission for the Beijing 2022 Winter Olympics.

“The IOC and Olympic movement have made enormous strides over the past decade under the leadership of Mr Bach,” said Samaranch in a statement.

“The IOC now needs a new leader with deep experience of the Olympic movement who can help steer it through this period of upheaval.”

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UCI chief Lappartient has been a rapidly rising figure within the sports world after joining the IOC in 2022.

The Frenchman also is in charge of esports within the IOC, having helped seal a 12-year deal with Saudi Arabia earlier this year for the Olympic esports Games.

Japan’s Watanabe, 65, has headed the gymnastics federation (FIG) since 2016, having been re-elected twice since, and is his country’s first ever candidate for the IOC presidency.

Under current rules members have to step down when they reach 70, the IOC’s age limit, unless they are given a four-year extension.

-Reuters

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Storm in CAF over proposed statutes amendments

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There is currently insinuations that  proposed certain elements may have smuggled modifications to amend the Statutes of the Confederation of African Football (CAF) when the body holds its General Assembly next month in Kinshasa, Congo next month.

 The confederation will be having its 46th General Assembly on 10th October. It is at such gatherings that amendments are made to existing rules.

According to an article authored by Mansour Loum, the editor of Sports News Africa, some national football federations have denied being party to proposed amendments which were linked to them.

One of such is coming from the Equatorial Guinea Football Federation  which has denied signing proposals being circulated relating to amendments to CAF Statutes.

It is claimed that a circular dated 8 September has been sent to CAF member associations. Signed by CAF General Secretary, Véron Mosengo-Omba,  it is titled: “Proposals for amendments to the CAF statutes and regulations for the application of the statutes, as well as the rules of procedure of the CAF General Assembly, presented by the national associations.”

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 Seven member associations were quoted as sponsoring the amendments. They are: Botswana, Comoros, Gabon, Equatorial Guinea, Liberia, Mauritania and Niger. 

 But Equatorial Guinea has denied being party to the proposed amendment which seek to remove age barrier for candidates seeking to be CAF Presidents and also removing zonal considerations in election into FIFA Council.

 The current Statute stipulates that a presidential candidate must not be older than 70 as at the date of election.

Most of the national federation members are already approaching that age. In the estimation of the author of the article, Mansour Loum, the current CAF president, Patrice Motsepe, is 62 years old. With the age limit, he could, for example, only run for two more terms.

Continuing, Loum wrote that regarding the elections to the FIFA Council, each zone has a representative on the FIFA Council and candidates for these positions can only be elected by the presidents of the member associations of their group zone.

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Thus, the presidents of French-speaking federations can only vote for a French-speaking representative, the English-speakers for the English-speaking group, and so on.

The distribution of seats on the FIFA Council is currently as follows:

Francophone Group – Two members

Anglophone Group – Two members

Arabophone/Lusophone/Hispanophone Group – Two members

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One female member elected from among the female candidates, regardless of language groups

The modification of the grouping by zonal unions would mean that all presidents could vote for candidates outside their group, or that the candidates would also no longer be limited to a group.

Several candidates from the same group could be elected to the FIFA Council, while at the same time some groups could no longer be represented.

Equatorial Guinea disputes any request for modification. The football federation president, Venancio Tomas Ndong Micha has reportedly denied being party to the proposed amendments.

“I am writing to you to present the disagreement of the Equatorial Guinean Football Federation with part of the content of the document sent to the CAF Executive Council on September 8, 2024 signed by you (…)

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“In this document, there are amendments presented by the Equatorial Guinean Football Federation (…) By this letter, we confirm that the Equatorial Guinean Football Federation has not submitted any amendments to the CAF administration for the 46th CAF Ordinary General Assembly to be held on Thursday, October 10, 2024 in Kinshasa,” he denounces.

Enough to cast doubt on this document sent by the CAF secretary general and the objective targeted. Contacted, a federation president, whose body is not mentioned in the letter, is surprised by these two requests for amendments and wonders about their intentions.

The press release from the Equatorial Guinean Football Federation has sown doubt and now he is questioning the originality of the attachments included in this document which is likely to be talked about between now and the CAF General Assembly.

– Mansour Loum

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