Ahead of the Game: Man United cuts could be copied by other clubs Sport Business Manchester United’s controversial move to slash the funding it provides to its charitable foundation as part of cost-cutting measures introduced by Sir Jim Ratcliffe could be followed by other Premier League clubs. The Manchester United Foundation are set to be the latest victims of Ratcliffe’s drive to cut costs at Old Trafford, with Sky News [...]
Football regulator boss should come from the Square Mile, says Crouch Sport Business Former sports minister Tracey Crouch says the incoming football regulator should be run by someone with a background in the City. Crouch has done more than anyone to give rise to the regulator by making it a key recommendation in her fan-led review of football governance. A revised bill laying out the watchdog’s proposed powers [...]
Man Utd deal was win-win for Ratcliffe and Glazers, says Raine Group Sport Business Sir Jim Ratcliffe’s £1.25bn investment in Manchester United was a win for both him and majority shareholders the Glazers, insists the bank which brokered the deal. Ineos tycoon Ratcliffe shelled out for a 27.7 per cent stake in the Premier League football club in December and, in return, took over much of the decision-making from [...]
Selfridges: Saudi Arabia’s PIF invests in department store group October 8, 2024 Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
E1 series: Electric boat racing to head to Qatar in 2025 September 30, 2024 The all-electric E1 racing series will head to Qatar for the first time in season two, it was announced on Monday. The distant sibling to Formula E and Extreme H will kick off its season in the peninsular Arab country that hosted the 2022 Fifa World Cup – won by Argentina. The Corinthia Yacht Club [...]
Saudi Arabia’s PIF seeks to up Selfridges stake to 50 per cent July 21, 2024 Saudi Arabia's Public Investment Fund has made a bid to up its stake in Selfridges to 50 per cent for a cash price of £1m.
E1, Puerto Banus and Saudi Arabia: The PIF mission to lure fans June 3, 2024 Why was the marina of Puerto Banus full of electric speed boats backed by the Saudi Arabian Public Investment Fund? Matt Hardy went to find out why the E1 Series is making a splash. Lady Haya, a 64m superyacht owned by the Saudi Arabian royal family, dominates the secluded marina of Puerto Banus. The so-called [...]
E1 aiming to join Formula E in establishing European race hubs May 11, 2024 The E1 speed boating series will head to Europe for the first time as the motorsporting discipline – with team owners including the likes of Virat Kohli, Sergio Perez and Tom Brady – sails into Venice. The electric powered machines will aid the highlighting of issues the Italian city faces when it comes to preserving [...]
McIlroy U-turns on PGA Tour board move over ‘old wounds’ May 8, 2024 Rory McIlroy has backtracked on plans to return to the PGA Tour policy board, saying the process had reopened “old wounds”. The four-time major winner had looked set to replace Webb Simpson on the board in an effort to help get a potential deal across the line between the PGA Tour, the DP World Tour [...]
Saudi Arabia bid $1bn to combine men’s and women’s tennis tours March 12, 2024 Tennis could be the next sport to fall into the arms of Saudi Arabia after discussions at Indian Wells this week reportedly included a $1bn take-it-or-leave-it offer from the state backed Public Investment Fund which would see the men’s and women’s tours merged. The reports, in the Telegraph, suggest that ATP chairman Andrea Gaudenzi asked [...]