jose - soccer

Cannavaro's contract with Madrid end next month, and he has now signed a one-year deal with Juve, the club he left in 2006 in the wake of the 'calciopoli' scandal. His move angered many fans and when his possible return to the club was first mooted it received mixed reactions from Juve fans, some of whom have not forgiven him for deserting them in 2006.

Even so, the player is looking forward to making his return to Turin and winning over his detractors. "I'm delighted to have returned to Turin and to have the opportunity to wear the black and white jersey again," said Italy's World Cup-winning captain. "I'm sorry that in some fans anger prevails over the appreciation for the glorious seasons we lived through together. "I'm convinced that I can win over even the biggest sceptics through hard work, professionalism and the passion with which I will tackle this new adventure."

Cannavaro won the title in both his previous seasons at Juventus but the club was stripped of those for their role in the calciopoli match-fixing scandal. The centre-back was born in Naples and played for hometown club Napoli for three seasons before joining Parma in 1995, with whom he won the UEFA Cup and two Italian Cups over a seven-year period. He left to join Inter Milan in 2002 but after only two seasons moved on to Juve.

Upon joining Real Madrid in 2006 he helped the club win back-to-back La Liga titles. He has been a winner both domestically and internationally as well as on a personal level and that is what convinced Juve sports director Alessio Secco to bring him back. "Fabio is a World Cup winner, a Ballon d'Or winner and a great man in the changing rooms," he said. "During the summer of 2006 the club had to sell him to deal with an economic crisis. This year we have waited out the end of Cannavaro's (Real) contract in order to bring him back to Turin and we're sure that he will make Juventus more competitive."The Serie A club said Tuesday the 35-year-old defender, who left for Real Madrid in 2006, signed a one-year contract to rejoin the Turin side on July 1.

Cannavaro, the 2006 world player of the year, angered Juve fans when he left for Madrid after the Italian club was demoted in a match-fixing scandal. "I am happy to be back in Turin and to have the opportunity to again wear the black-and-white jersey," Cannavaro said on the club's Web site. "I'm sorry that among some of the fans there still prevails rancor about appreciating the glorious seasons that we lived together," he said.

Cannavaro pledged to win over "even the most skeptical among them through my work, professionalism and passion with which I'll face this new adventure." Juve said that in 2006 it was "forced to let him go to deal with urgent financial needs." The club said it was sure that Cannavaro's presence "will make Juventus more competitive."

Cannavaro's return was announced a day after Juve fired coach Claudio Ranieri. The club has gone winless in its last seven games and is only one point clear of Fiorentina in the race for third place, with two games remaining. Ciro Ferrara, a former Juve defender, was put in charge for the rest of the season.

Chelsea are happy for Carlo Ancelotti to have a say on a summer squad clearout, it has been revealed. The Telegraph says AC Milan boss Ancelotti is understood to have finally made a commitment to leave the San Siro and join Chelsea on a three-year contract. According to a report in the British broadsheet The Telegraph, Carlo Ancelotti has been promised huge financial backing for transfers after agreeing to take over as Chelsea manager.

Apparently, the Italian has decided he will depart Milan at the end of the season to take over at Stamford Bridge on a three-year contract. As part of the deal, it is claimed that Blues owner Roman Abramovich has promised to give the 49-year-old at least €56.6 million (£50m) to strengthen the squad during the summer.

Apparently, Arsenal forward Emmanuel Adebayor is a top target, with the west London club setting aside in excess of €22.6m (£20m) in order to land him. It is also thought that Chelsea will pay €17m (£15m) to acquire the services of Russian international winger Yuri Zhirkov from CSKA Moscow. The west London club are also said to be keeping tabs on Argentina international Carlos Tevez, whose loan deal with Manchester United is due to expire this summer. It is uncertain whether the Red Devils will pay the reported €22.6m (£20m) being asked for the 25-year-old's rights, with Chelsea allegedly ready to pounce should he become available.

Chelsea will also conduct a clear-out of some of their underperforming stars in the overhaul that they want Ancelotti to oversee. Among those under scrutiny are French internationals Florent Malouda and Nicolas Anelka, along with Deco.

(source: tribalfootball, goal.com)

This week sees the second legs of the Champions League 1st Knock-out stage and the prize at stake is a place in the quarter-finals. It is doubtful that anyone will make much money betting that all four Premier League teams be in that last-eight draw. All four are in strong positions and have recent history on their side - a Premier league team has not been knocked out of the Champions League by a European team for nearly two years, since Milan beat Liverpool in the 2007 final! Last season the only teams that were able to eliminate Premier League teams, were other Premier League teams! Liverpool beat Arsenal in the quarter-finals, Chelsea then beat Liverpool in the semi-finals (at the third time of asking) and Manchester United then beat Chelsea on penalties following John Terry’s infamous slip.

Barca and Milan are the two teams that have been consistently able to beat English teams in the last few years, although they have also been on the losing end too. Milan beat Manchester United in the 1st knock-out round in 2005 and in the semi-finals in 2007, when they beat Liverpool in the final. However they have lost to both Liverpool (famously in 2005’s final) and Arsenal last season in the 1st knock-out round. Barca have beaten Chelsea in 2006’s 1st knock-out round and then Arsenal in that year’s final, but they have lost to Chelsea (2005), Liverpool (2007) and Manchester United (2008). Other teams to have knocked out Premier League clubs since 2004-5 are Bayern Munich (Arsenal, 2005), Benfica (Liverpool, 2006) and PSV (Arsenal, 2007). Chelsea deserve a special mention - since 2005 they have only been knocked-out by English teams (three times) and Barcelona.

Other statistics since 2005 - the four premier league clubs have 10 semi-final appearances between them, they have each appeared in at least one final, each final has featured at least one English team. There is a clear trend in this data - Premier League clubs are becoming more difficult to beat in Europe every year and this has prompted FIFA chief Sepp Blatter to voice his concern; “I have my concerns because the Premier League is the strongest in the world, definitely. It is taking over in such a manner that the other leagues have difficulties to match it.” He also noted that the Premier League itself was also dominated by the same teams that dominate the Champions League; “In a competition where two-thirds or three-quarters of the participants in the league play not to be first, but not to be relegated, there is something wrong.”

For once the Swiss is talking a bit of sense, but is in no position to be able to rectify the problem. Blatter has identified the foreign influence in English football as the root of the problem and said he would attempt to convince Premier League chief executive Richard Scudamore to impose a minimum requirement for home-grown talent on the pitch in an attempt to prevent the pillaging of young talent from abroad and warned that domestic owners might provide better stewardship through the economic downturn. “I want to try to, if not persuade him (Richard Scudamore), then at least influence him in his thoughts that to have a minimum of local players will enhance the quality of his league. Foreign ownership is definitely a risk, it is not the basis of football, but here we can do nothing. At the moment in the economic crisis, maybe the big investors and the big companies, will have less money to go in than local or regional investors who will be there because they identify themselves with the club.”

The debate over foreign ownership has been ongoing for sometime in the Premier League and, with the exception of Randy Lerner’s tenure at Aston Villa, none of the foreign owners have exactly covered themselves in glory; the crass spending of Chelsea and Manchester City, the lack of spending and boardroom soap opera at Liverpool, the financial and managerial shenanigans at Portsmouth and West Ham and the quite terrifying level of debt incurred at Manchester United.

Blatter though has missed the point when he focuses on foreign owners and players. They are simply a symptom of the problem, which is, of course, money. Without the huge sums distributed to the English clubs initially through the sale of television rights, the clubs and the league itself would not be so high profile and attractive to foreign owners and players. The skillful marketing of the Premier League combined with the nature of the English game and the expectations of the fans have created a ravenous monster that seems unstoppable. FIFA and UEFA have been marketing football for years, monetizing their competitions (World Cup, European Championship and Champions League) via television rights, exclusive sponsorships and merchandising, now the Premier League have taken up that baton and ran with it so successfully suddenly things are looking a bit different. What are the chances of another all-English final, or even two all-English semi-finals?

(source: english-premier-league.org)

Manchester United’s dominance of English football, on and off the pitch, is underlined today with the release of a financial survey that shows a £45m leap in United’s year-on-year income. Thanks in large part to last season’s Premier League and Champions League double, United’s turnover grew by 21 per cent in the 2007-08 season to £257.1m. This makes United by far the highest-earning club in Britain, ahead of Chelsea (in second place, with income of £212.9m in the same period), Arsenal (£209.3m) and Liverpool (£167m).

The figures are revealed in the latest Football Money League report by Deloitte, in a survey that shows Real Madrid remain the world’s richest club in terms of revenue, ahead of United in second, then Barcelona, Bayern Munich and Chelsea. Only a drastic slump in the value of sterling has prevented United from reclaiming the title of “world’s richest club” from Real. Real Madrid’s income for 2007-08 rose a relatively modest four per cent to 365.8m euros, or £289.6m when converted at the June 2008 exchange rate of £1 = 1.2632 euros. United’s income at the same rate equated to 324.8m euros. But sterling has crashed significantly, and if Deloitte had used the same exchange rate as in their previous report (£1 = 1.4856 euros, from June 2007), United’s latest income would have been 381.9m euros against Real’s 365.8m euros.

One of the most intriguing aspects of today’s report is that Deloitte, rather than the clubs themselves, has become the vehicle of choice for headline income figures to be released. United will provide more details of their results in due course, including data on large profits, but Chelsea are expected to remain conspicuously quiet this week about their own results. A press conference and briefing, scheduled for Friday, has been indefinitely shelved, and it is understood that this is partly because of the sacking of Luiz Felipe Scolari. His pay-off, of around £7.5m, would not have been in the 2007-08 accounts but would have prompted embarrassing questions about Chelsea’s huge and ongoing losses.

An annual loss of £74.8m in 2006-07 on turnover of £190.5m meant the club had posted cumulative losses of £384m in four years. Haemorrhaging of money at such levels has always heaped ridicule on the long-standing claims of Chelsea’s chief executive, Peter Kenyon, that the club can break even by 2010. Yet further losses in the tens of millions are expected in the 2007-08 figures. And combined with the latest change in manager and wobble in form (and the financial ramifications of both) any suggestions of financial self-sufficiency soon are hollow jokes, as, increasingly, are Kenyon and Roman Abramovich themselves.

As the Deloitte report points out, Chelsea’s annual income growth of 12 per cent (£22.4m) in 2007-08 was driven mainly by increased TV cash, “but the club needs new successes with its match day and commercial revenues to deliver future growth and keep pace with its biggest European rivals.”

1 (1) Real Madrid £289.6m
Real Madrid's 4 per cent revenue growth is more modest than recent years, but the club have doubled their revenues since 2002

2 (2) Manchester United £257.1m
Manchester United's success in winning the Premier League and Champions League has contributed to significantly-increased revenue in 2007/08, but the depreciation of the pound against the euro means they remain in second position.

3 (3) FC Barcelona £244.4m
Barcelona's revenue increased by only 6 per cent.

4 (7) Bayern Munich £233.8m

5 (4) Chelsea £212.9m
Chelsea enjoyed a rise of 11.5 per cent.

6 (5) Arsenal £209.3m
Arsenal enjoyed a rise 18 per cent

7 (8) Liverpool £167.0m
Liverpool have gone up a place to seventh with a 25 per cent rise in turnover.

8 (6) AC Milan £165.8m

9 (11) AS Roma £138.9m

10 (9) Internazionale £136.9m

(source: independent.co.uk)

AIG, the American insurance firm, has confirmed it will not renew its sponsorship deal with Manchester United, however the club remain confident of securing an improved deal elsewhere when their current contract ends in May 2010.

The company, which has suffered massive losses during the global economic downturn, says it remained in discussions over its current deal with the world and European champions, which is due to expire in May 2010.

Despite the news United say they have already opened discussions with a number of global companies, who they feel, could offer United an improvement on their current deal. Sahara, the Indian financial services corporation, has already confirmed United have made contact to gauge its interest in sponsoring the club, while Saudi Telecom have also been sounded out about replacing the AIG deal.

The Old Trafford club also have strong links in both Malaysia and South Korea, so even at a time of financial prudence around the world, United are still optimistic of bettering their current contract, worth £19million including various financial packages

"In line with industry practice, Manchester United is exploring the possibility of a shirt sponsor for the new 2010/11 season," a United spokesman said. "The club is in dialogue with a select number of top companies worldwide and has so far received sufficient interest to be confident it can improve on its current £19m annual partnership with AIG."

AIG came close to collapsing in the final few months of last year as it fell victim to the worst housing market since the Great Depression. The situation became so bad that the US government was forced to extend it a $150billion (£109.3 billion) loan, which it is unlikely to get back, which almost certainly saved AIG from oblivion.

AIG reached its perilous state after having to pay out tens of billions of dollars on insurance policies written on mortgages that homeowners cannot possibly repay. It will also make tens of billions of additional losses on complex investments tied to properties that are plummeting in value

(source: timesonline.co.uk)

American insurance giant AIG said on Wednesday it would not renew its shirt sponsorship deal with European and world club football champions Manchester United.

The American company also said in a statement e-mailed to Reuters that it was "in active discussions" with the club regarding the current four-year $100 million deal, which runs until next May.

Once the world's biggest insurer by market value, AIG averted bankruptcy in September last year with an $85 billion federal bailout, which later swelled to about $152 billion.

The company has started selling assets to raise funds to repay a part of the government bailout.

"Following the loan from the Fed, AIG has been reviewing all its sponsorships to identify those essential to maximising the value of AIG businesses," AIG said in a statement e-mailed to Reuters.

"In October, AIG told Manchester United that it is not renewing its sponsorship. Further, AIG has been in active discussions with the club regarding the current contract, which expires in May 2010," it added.

Manchester United was not immediately available for comment.

The news comes a day after it emerged that the English Premier League champions had approached Indian company Sahara as a potential replacement for AIG.

"We can confirm that we have received a proposal for team sponsorship, it is an elaborate one," Abhijit Sarkar, spokesman for the diversified Sahara Group, told Reuters on Tuesday.

Sahara, which sponsors the Indian cricket team, is an unlisted group with interests from financial services to real estate.

(source: ibnlive.in.com)

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)

Chelsea aren't keen on handing boss Luiz Felipe scolari any cash to spend in the impending January transfer window. Like everyone else, the capital club has been affected by the frightening state of the global financial climate. Naturally, though, the sting of such worries takes has more ridiculous complexion at Stamford Bridge than anywhere else.

Reports suggest that billionaire Russian owner Roman Abramovich will have to choose to sell either the club or his £200 million mega yacht, Pelorus. In fact, he has allegedly sounded out buyers for the club already, hinting that the boat may be too dear to his heart.

According to Russian press agency Prime-Tass - who source an expert in football finance and, for some reason, someone of standing in German football - Abramovich's fortune has dwindled from €16.7 billion (£13.2bn) to €2.3bn (£2.25bn).

The giant yacht apparently has a couple of helipads and an anti-missile system to fend off pirates - a job given to skipper John Terry at the Bridge. Further reports in Russia hint at the practical affect which the crisis is having on Chelsea. For instance, apparently the players are paying for their own lunches.

Assets depreciation and another effects of the world financial crisis might have reduced Roman Abramovich's personal fortune from €16,700 million to €2,300 million, according to Russian news agency Prime-Tass.

This is the current scenario for the Russian tycoon, who must made a decision: either he puts Chelsea for sale (he invested more than €210 million since July 2003, including the team's debts) or he sells his yacht, which is said to cost some €200 million.

The press published statements from an expert in financial transactions in soccer and former manager of two teams from Germany; according to him, "rumors about selling Chelsea started spreading in November" and Abramovich "is looking for a broker to lead the transaction."

The club is yet to comment on the rife speculation.

(source: goal, sportsya.com)

The US government is to buy a $40bn equity stake in troubled insurer American International Group – increasing its investment in the company to a total of $150bn as it reported $24.47bn of quarterly losses.
AIG, best known in the UK as Manchester United's shirt sponsor, is to receive the capital injection as part of a restructured package of funds from the Federal Reserve and the Treasury intended as a longer-term investment than the original monies offered.

The Fed originally offered AIG an $85bn credit lifeline in mid-September, and handed over a further $37.8bn last month when it became apparent that the original facility was not enough. Under the new structure, the Treasury will buy $40bn of preferred shares in AIG – which in return will pay an annual 10pc dividend – as part of the Troubled Assets Relief Programme.


The more permanent investment will allow the Fed to reduce its $85bn credit line to $60bn, and a further $50bn will be provided to purchase distressed assets from AIG which are to be then placed in a pair of financing vehicles. In addition, some of the loan terms have been eased to make it easier for AIG to meet its commitments.

The new structure was hatched by AIG chairman Edward Liddy, who was brought in after the government's first bail-out in September, and Neel Kashkari, the Treasury's interim assistant secretary for financial stability. It is similar to one first suggested by former AIG chairman Hank Greenberg, who remains a major shareholder in AIG, although it is not known whether he was instrumental in these negotiations.

Mr Kashkari said yesterday that the decision was necessary to prevent yet more turmoil in the markets. "Today's action was a one-off event," he said. "It is not the start of a new programme." The revised investment package should stabilise the company in order to allow Mr Liddy to continue with his plan of selling off major parts of AIG, including its personal insurance arm, its life and retirement businesses and its aircraft leasing arm.

Mr Liddy said he was in talks with lots of different buyers for each of the various up-for-sale businesses, and that he planned to announce several transactions in the current quarter. News of the investment came as AIG announced a net loss of $24.47bn in the three months to September, against a profit of $3bn in the same period last year.

The results include $7.05bn of unrealised losses and $18.31bn in investment writedowns.

(source: www.telegraph.co.uk)

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

Manchester United, Chelsea and Arsenal have established themselves in the world top five of highest-earning clubs, according to a new report. They made £580m between them last season and Deloitte, the business consultancy which compiles the Football Money League, believes their revenues will only increase as English clubs as a whole seek to maximise their money-making potential abroad.

"Manchester United have 300m overseas supporters but do not make as much money from them as possible," said Deloitte's Alan Switzer. "Even £2 extra from each fan would make an enormous difference. That is something all the big English clubs are now focusing on. The idea of a 39th game is part of that strategy."

A ninth Premier League title combined with a run to the Champions League semi-finals and a £14m-a-year shirt sponsorship deal helped United earn £212.1m in 2007. Chelsea made £190.5m in the same period and Arsenal took £177.6m, mainly from corporate revenue which doubled to £91m in their first season at the Emirates Stadium.

There are six English clubs in the top 20, Liverpool, Tottenham Hotspur and Newcastle United being the others. Financial analysts expect more to follow in 2008 because of this season's £300m Premier League broadcast deal.

The rich list 2008
1 (1) Real Madrid £236.2m
2 (4) Manchester United £212.1m
3 (2) Barcelona £195.3m
4 (6) Chelsea £190.5m
5 (9) Arsenal £177.6m
6 (5) Milan £153.0m
7 (8) Bayern Munich £150.3m
8 (10) Liverpool £133.9m
9 (7) Internazionale £131.3m
10 (12) Roma £106.1m
11 (15) Tottenham Hotspur £103.1m
12 (3) Juventus £97.7m
13 (11) Lyon £94.6m
14 (13) Newcastle United £87.1m
15 (16) Hamburg £81.0m
16 (14) Schalke 04 £76.9m
17 (-) Celtic £75.2m
18 (-) Valencia £72.4m
19 (-) Marseille £66.6m
20 (-) Werder Bremen £65.5m
(source: guardian.co.uk)