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UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League - Sports - Nairaland

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UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Nobody: 10:54am On Apr 20, 2021


- Football body discusses financing to revamp flagship tournament

- JP Morgan Chase & Co is providing €4 billion to bankroll the European Super League

UEFA is in discussions with Centricus Asset Management over a €6 billion ($7.2 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 currently ongoing between UEFA and London based Centricus, according to the people. A representative for Centricus declined to comment, while a spokesperson for UEFA didn’t 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 Monday.

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 JPMorgan 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 national Euro and World Cup competitions.

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 $30 billion in assets according to its website, is well connected to large, wealthy institutions in the Middle East and Asia, and helped SoftBank Group Corp raise $100 billion for its massive Vision Fund.

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

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 $10 billion in turnaround opportunities in India, and last year made a last-minute pitch to buy TikTok’s operations in several countries for $20 billion.

In 2019 it made a foray into the high-end hotel and resorts sector and bought the iconic Capri Palace Hotel & Spa.

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

Al Jazeera

Bloomberg

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Nobody: 10:54am On Apr 20, 2021
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Great100000: 11:05am On Apr 20, 2021
This is getting more interesting now. grin grin grin grin grin

grin grin grin grin Neymar go win Champions League Tire grin grin cheesy

101 Likes 4 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Nickisindigo(m): 11:08am On Apr 20, 2021
Lol what's the difference between premier league itself and the newly created super league

3 Likes

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by paulolee(m): 11:09am On Apr 20, 2021
make this uefa calm down naa....football is business and the main aim of esl is making more profits n revenues especially for the big clus.
uefa are speaking like saints asif the body itself isn't filled with dirty history of football politics...
even the corrupt FIFA too are criticizing big clubs for their lust for more money asif its not d same FIFA dt collected huge bribe n gave the arab region world cup hosting rights n even plan to shift world cup fixtures because of the bad weather in Qatar after the season...
we are all hypocrites when it comes to decision because we see nothing wrong when it favors you..

30 Likes 6 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by angusakpuogwu: 12:08pm On Apr 20, 2021
Jakui:

FTC grin








Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by gurunlocker: 12:08pm On Apr 20, 2021
I said this is a money war...

UEFA and FIFA didn't invest such and have same energy when it comes to racism.

But they see they are about to be bleeped with the creation of ESL, they will lose lot of money, won't be interesting and then die down.

UEFA created nations league and still planning another format that will start in 2024. They are acting like they care, but it's all down to the pocket of each body.

60 Likes 2 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by ZendayaColeman(f): 12:08pm On Apr 20, 2021
UEFA is too greedy abeg

26 Likes

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by merits(m): 12:09pm On Apr 20, 2021
when money speaks, poverty take back down.

4 Likes 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Granger: 12:09pm On Apr 20, 2021
Chads president has died

1 Like 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Nbotee(m): 12:09pm On Apr 20, 2021
People are jus being emotional and not realistic ... This whole saga is about more money for clubs.. Every Elite club needs more money to stay competitive.. We are in an era where paying 70 to 100m is now seen as normal with weekly salaries of over 150k the new normal. Barca is hugely in debt and cannot even buy new players and cannot continue to pay hefty wages. In the Premier league it is Man City, United, Chelsea, Liverpool and Others becos of the investments dey have made. In Spain it is Madrid and Barca, and it is the same all round. The heavy spenders are the ones at the top of the table. If U cannot guarantee them improved revenue they will get it elsewhere

40 Likes 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by ImmaculateJOE(m): 12:09pm On Apr 20, 2021
It's over for UEFA..
They should just focus their energy on European Championship.. UCL is a gonna

ESL we know
ESL we want.
However, ESL has its own share of disadvantages... Players will have to play more matches than usual..
Going by how the competition will go, clubs will play a minimum of 18 matches (and a maximum of 25 matches). Now add this figure to 38matches of domestic leagues plus FA and Carabo competition (for English teams).

14 Likes 3 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Analyst7: 12:10pm On Apr 20, 2021
Uefa and fifa are thieves but are angry because of a new potential bigger thief, my problem is how foolish they want to handle this thing without even considering the voice of fans

26 Likes 2 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Offpoint1: 12:10pm On Apr 20, 2021
qw
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by blamingthedevil: 12:10pm On Apr 20, 2021
Good...tit
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Anter: 12:10pm On Apr 20, 2021
They needed a wake up call.The effect of healthy competition.

2 Likes 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Viridis(m): 12:10pm On Apr 20, 2021
I don tire for this matter

1 Like

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by infogenius(m): 12:12pm On Apr 20, 2021
I love this European football game drama.
Just chilling to see how it ends and of course learn one or two business lessons.

20 Likes 2 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by revived: 12:12pm On Apr 20, 2021
E go be
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Amaechi2023(m): 12:12pm On Apr 20, 2021
why would arsenalbe in any super competition in the first place?

5 Likes

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by qualityovenbake(m): 12:12pm On Apr 20, 2021
Is now that UEFA knows that they will look for better sponsorship deal. Since the pandemic started, all football clubs have been complaining of their revenue dwindling because of covid-19.

2 Likes 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Dpaulie(m): 12:13pm On Apr 20, 2021
Breakaway everywhere
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Khristian0(m): 12:13pm On Apr 20, 2021
Even nigerians r against superleague ������

Soon buharia will make statement

5 Likes

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by fineboynl(m): 12:13pm On Apr 20, 2021
JP morgan again. during the oil boom on early 90s these same JP morgan where at the forefront monopolising the market and made trillions of dollars before stated actors nationalized thier oil. it was not a easy fight down. it was at the hand of JP morgan

1 Like 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Britain4(m): 12:13pm On Apr 20, 2021
Don't no what to comment
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by careytommy37(m): 12:13pm On Apr 20, 2021
Shakara don end

2 Likes 1 Share

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by Flango: 12:14pm On Apr 20, 2021
tongue

1 Like

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by hayzed27(m): 12:14pm On Apr 20, 2021
money talks bullcrap kpai
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by allanphash7(m): 12:14pm On Apr 20, 2021
K
Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by captainamiedi1: 12:15pm On Apr 20, 2021
gurunlocker:
I said this is a money war...

UEFA and FIFA didn't invest such and have same energy when it comes to racism.

But they see they are about to be bleeped with the creation of ESL, they will lose lot of money, won't be interesting and then die down.

UEFA created nations league and still planning another format that will start in 2024. They are acting like they care, but it's all down to the pocket of each body.

UEFA creating more leagues and tournament to make more money but are quick to cry and use football is about fans to blackmail us. when last did UEFA sponsors fan for football matches? what is there impact on football during the pandemic? how much is UEFA spending yearly for staffs and others? They are all thieves. i support ESL big time

29 Likes 2 Shares

Re: UEFA To Sign A $7.2Bn Deal With Centricus To Stop European Super League by djfalone(m): 12:16pm On Apr 20, 2021
Looks like desperation to me.At the end of the day ,it all boils down to money. Those clubs are looking for a bigger pay check without any regard for collateral damage.

3 Likes

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