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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

CAF President Dr Motsepe Announces Five Vice Presidents

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The president of the Confédération of African Football, Dr. Patrice Motsepe, has announced five new CAF Vice Presidents. They are:

  • CAF First Vice President: Mr Fouzi Lekjaa (Morocco)  
  • CAF Second Vice President: Mr Kurt Okraku (Ghana)
  • CAF Third Vice President: Mr Pierre-Alain Mounguengui (Gabon)
  • CAF Fourth Vice President: Ms Bestine Kazadi Ditabala (Democratic Republic of Congo)
  • CAF Fifth Vice President: Mr Feizal Sidat (Mozambique)

In addition, the CAF President has co-opted Yacine Idriss Diallo, President of Fédération Ivoirienne de football, into the CAF Executive Committee.

The CAF Executive Committee also approved the names to fill vacant positions on several CAF Committees.

Organising Committee for the African Nations Championship (CHAN)

  • President:  Pierre-Alain Mounguengui (Gabon)

CAF Technical and Development Committee

  • President: Samuel Eto’o (Cameroon)
  • Vice President:  Malouche Belhassen (Tunisia)

CAF Medical Committee:

  • President: Dr. Mohammed Bouya (Mauritania)
  • Vice President: Dr. Thulani Ngwenya (South Africa)

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Governing Bodies

Nigeria  becoming an epicentre of global badminton as Francis Orbih enters the Badminton World Federation Council

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Laurels on the courts and now glory in the boardroom sums up the mark that badminton is making in Nigeria.

The President, Badminton Federation of Nigeria (BFN), Francis Orbih, has been elected as a council member of the Badminton World Federation (BWF).

The election took place during the BWF Annual General Meeting on Saturday in Xiamen, China.

 Orbih emerged victorious over top contenders from other African countries.

He will join Cameroon’s Odette Assembe Engoulou on the council, while Chipo Zumburani (Zimbabwe) and Hadia ElSaid (Egypt) missed out.

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An elated Orbih expressed his gratitude to fellow badminton presidents across the globe for their trust and support.

He said, “I am deeply honoured by the trust placed in me by my peers across the badminton world.

“I look forward to quality representation, driving development initiatives, and strengthening badminton’s global reach over the next four years.”

Orbih also acknowledged the support of the Federal Government of Nigeria, particularly the National Sports Commission (NSC), which he said played a significant role in his successful bid.

“The Chairman and the Director General of the NSC monitored the entire process. I’m grateful for their involvement and confident Nigeria will benefit from this,” he stated.

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He further appreciated the BFN board members and the Nigerian badminton community for their prayers and continued belief in his leadership.

“From the day I declared my intentions, the board members of BFN have been supportive, and I promise not to disappoint them,” Orbih concluded.

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Governing Bodies

Ex-FIFA Council member and Mali football chief released from jail

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A former member of the FIFA Council, Mamoutou Toure, has been released from jail in Mali after almost two years in detention for alleged corruption, Malian media reports said on Wednesday.

Toure, president of the Malian Football Federation since 2019, was released after 622 days in prison on Tuesday.

He served on the FIFA Council, world football’s all-powerful decision-making body, for four years until last month when he lost his seat after failing to contest new elections.

The 67-year-old was arrested in August 2023 on allegations of embezzling $28 million of public funds but was granted a provisional release order by the Malian courts, reports said.

He was accused of misconduct during his time as the National Assembly’s financial and administrative director from 2013-2019.

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Toure denied all charges and, during his time in jail, was last August re-elected as Malian Football Federation president for a second consecutive term, with his supporters claiming he was a victim of a conspiracy fuelled by detractors.

While in jail, he received a letter of support from FIFA president Gianni Infantino. However, as of last month, Toure is no longer a member of the FIFA Council or the Confederation of African Football’s executive committee.

-Reuters

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