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bayern: van gaal comes

⊆ 21.39 by Mo Hyo Se | ˜ 0 comments »


FC Bayern München have confirmed that Louis van Gaal has agreed to become their new coach. The German giants have been searching for a new boss since Klinsmann's exit last month.Van Gaal has been Bayern's top target, but they had been struggling to reach an agreement with AZ Alkmaar to release the Dutchman. However, a compromise has been struck and Bayern general manager Uli Hoeness says Van Gaal will take charge from the start of July. "We understand that he will become our head coach on 1st July," he said. Bayern chairman Karl-Heinz Rummenigge added: "We are happy to have signed an experienced and successful football coach for Bayern Munich such as Louis van Gaal." Van Gaal will sign a two-year contract upon his arrival at Allianz Arena.

Bundesliga outfit Bayern Munich opted to give head coach Juergen Klinsmann the sack after the 1-0 league defeat against Schalke’04 some three weeks ago and the Bavarians immediately targeted AZ coach Louis van Gaal as his replacement.

Reports in the Dutch media earlier this week already claimed that Bayern Munich were on the verge of announcing the former Ajax coach as their new trainer, but AZ were reluctant to let go of the successful tactician and frustrated the move.

However, according to NOS, the Dutch champions have now reached an agreement with Bayern about a transfer fee and van Gaal will be in charge at the German giants starting this summer. Further details about the deal haven’t been announced yet.

Van Gaal’s AZ deal was due to expire in 2010, but the 57-year-old made it clear that signing for Bayern Munich was like a dream for him. His excellent relationship with AZ chairman Dirk Scheringa eventually made the latter decide to let go of Van Gaal.

(source: goal, goldenfoot.com)

 

manchester city: recruitments

⊆ 19.51 by Mo Hyo Se | ˜ 0 comments »


Defender Wayne Bridge has become the first signing of what seems sure to be a busy transfer window for Manchester City after completing his expected transfer from Chelsea for a fee in the region of £10 million ($14.5 million). The England left-back completed his medical on Saturday morning and agreed personal terms on a four-and-a-half-year contract, before being introduced to supporters prior to City's FA Cup tie at home to Nottingham Forest. He watched on as his new team were humbled 3-0 by the second-flight side in a big upset.

The 28-year-old Bridge, who largely played second-fiddle to England colleague Ashley Cole during his spell at Stamford Bridge, is expected to make his debut against Portsmouth at Fratton Park next Saturday. "I played alongside Wayne at Southampton and saw him come through the ranks," City manager Mark Hughes told the club's Web site mcfc.co.uk. "He was an outstanding young player and he's progressed year on year in his career. He is an England international and has just played for one of the top four sides in the country. "He is of the right quality and is the type of player we need to attract. We need good players that understand this league and we will look to carry on in that way and add more if we can."

It is expected Hughes will return to old club Blackburn for Roque Santa Cruz early next week as City's Abu Dhabi-based owners begin to flex their vast financial muscle. Manchester City intensified their bid to sign Roque Santa Cruz from Blackburn Rovers last night as Mark Hughes looked to reassert his authority over a demoralised squad. Hughes, the City manager, has been forced to contend with a series of problems in recent weeks, having identified Tal Ben-Haim and Elano among those responsible for a growing sense of disquiet in the dressing-room. But having sent a forceful message yesterday to any disgruntled players, it emerged that City have finally established formal contact with Blackburn as they try to secure the signing of Santa Cruz in a deal worth in the region of £15 million. Reports of an £8 million bid to sign Shay Given, the unsettled Newcastle United goalkeeper, were not confirmed by City officials.

John Williams, the Blackburn chairman, was quoted as saying yesterday lunchtime that he had yet to receive a formal offer from City for Santa Cruz, but contact has since been made between the clubs at boardroom level, with Hughes hoping that a deal for the Paraguay forward can be concluded sooner rather than later.

Hughes has spoken to Paul Aldridge, the City chief operating officer, to express frustration over the time taken to complete the proposed signings of Santa Cruz, Kolo Touré, the Arsenal defender, and Scott Parker and Craig Bellamy, the West Ham United duo. City have been frustrated by West Ham’s intransigence and have indicated that they will be forced to look elsewhere if the London club, having sought to sell Calum Davenport to Bolton Wanderers and Matthew Etherington to Stoke City, do not play ball.

The City manager has other targets, having identified Joleon Lescott, of Everton, as an alternative to Touré, and, with the signing of Wayne Bridge from Chelsea completed, Hughes maintains that his squad will be far stronger by the end of the month. He hopes to offload players such as Ben-Haim and Elano, but, in the meantime, has urged the malcontents in his squad to speak directly to him. “All the players know if they have any complaints, they can knock on my door,” Hughes said. “That is how it has always been. You are going to get these kind of stories when things are not going as well as you would like.”

(source: edition.cnn.com, timesonline.co.uk)

 

AIG continuation of the contract with MU in questions

⊆ 15.51 by Mo Hyo Se


AIG recently posted a third-quarter of $24.5 billion, prompting the US government to rework the terms of it’s aid to the insurance giant in order to a) extend more money to AIG (another $40 billion, after $123 billion had already gone into buying up AIG equity and b) significantly reduce repayment terms to help stabilise the company and allow it to recover fully (as opposed to collapsing under the current crisis or under the weight of the government handouts).

For Manchester United, the message is clear - if there was any hope that AIG would recover in time to renew their deal as sponsors of the Manchester United shirt, they are now shot. David Gill was recently quoted as saying that United would have no trouble in finding a replacement if the need arose - it’s time for the Manchester United chairman to put that to the test and ensure that a shirt sponsor paying as much (and if possible more) than AIG’s 14m / year deal is brought in before the agreement with AIG ends, or worse, before AIG says they can’t pay their next year’s installment.
The US government has stepped in with a new package of aid for troubled insurance giant American International Group. It comes after the firm - which sponsors Manchester United Football Club - announced third quarter losses of £14.7bn.

AIG made a £1.8bn profit the year before. The rescue package includes a £20.5bn cash injection in return for partial ownership of the firm. Announced jointly by the Federal Reserve and the Treasury Department, it takes the sum pumped into the company to around £90bn. As part of the new deal, the Fed is reducing a £51bn loan it had made available to AIG to £36bn. It is also replacing a separate £22.7bn loan to the insurance company with a £31bn aid package. The government said the measures were needed to "keep the company strong and facilitate its ability to complete its restructuring process successfully." The Treasury Department, which is overseeing the rescue operation, has promised to invest £150bn in America's banks to get them lending again.

Until now all of the help provided for AIG was coming from the Federal Reserve.
It said earlier this year it would lend AIG a total of £74bn, then gave it access to a further £12.5bn to help it pay wages and other key expenses. AIG has said repeatedly its kit sponsorship deal with Manchester United will not be affected by its financial woes. The contract, which is worth £56.5m over four years, is the most lucrative in the Premier League.

source: Forbes, Sky