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Chelsea confirm agreement of Boehly-led partnership to buy British club

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Statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.

Chelsea Football Club has confirmed that terms have been agreed with a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital over the acquisition of the English Premier League soccer team.

The Stamford Bridge-based outfit announced the 4.25 billion pound ($5.2 billion) deal for the reigning European champions in a statement issued in the early hours of Saturday, subject to receiving the required approvals.

“Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the club,” the statement said.

“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

Chelsea said the new owners would pay 2.5 billion pounds to purchase shares while committing a further 1.75 billion pounds to invest in the stadium, women’s team, the academy and the Chelsea Foundation.

The statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.

The announcement comes with just over three weeks remaining on the club’s current operating licence, which expires on May 31.

Abramovich put the club up for sale in early March following his country’s invasion of Ukraine.

He cleared the path for the takeover on Thursday after dismissing reports he wanted a loan given to the club, reportedly worth 1.5 billion pounds ($1.9 billion), to be repaid.

The Boehly group, which also includes Swiss billionaire Wyss, were in exclusive negotiations to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected.

Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton were earlier eliminated from the bidding process while a consortium led by Chicago Cubs owners the Ricketts family pulled out of the running.

Source: TRT World 

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Germany one of UEFA Euro 2024 favorites, says Matthaeus

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by Oliver Trust

BERLIN, March 27 (Xinhua) — Enthusiastic fan chants filled the Frankfurt arena as a determined team pushed its way to success, impressing pundits. The German national team seems rejuvenated after a remarkable transformation.

“We see and feel something that wasn’t there before,” remarked Real star Toni Kroos, the driving force behind the 2014 World Champions, upon his return after an absence of over two years.

“The team went through dark times and many months of drought, but we managed to build up faith and confidence in these two games and our training sessions,” the midfielder stated.

Having defeated France (2-0) and the Netherlands (2-1), two of Europe’s leading sides, feels like a refreshing restart without inherited burdens for the German national team.

The fundamental changes implemented by national coach Julian Nagelsmann have sparked a new spirit and opened doors for bold dreams, as not only German record international Lothar Matthaeus has redefined new goals for the Euro tournament host.

“From what I see, the team can win the trophy this summer,” said the 63-year-old former midfielder, who has been capped 150 times, referring to the Euro taking place from June 15 to July 15 in ten German arenas.

Just in time, Nagelsmann pressed the emergency button, leaving out established forces and relying on a strict performance pattern, only selecting players currently performing at a high level, regardless of the number of internationals in the German shirt.

Last autumn, Germany seemed to have hit rock bottom, suffering from two disappointing defeats against Turkey and Austria.

“We are back on track as we feel a new spirit, and things are going much better for everyone and the entire team,” said Bayern full-back and midfielder Joshua Kimmich.

Stuttgart full-back and national team newcomer Maximilian Mittelstaedt spoke of “something big” on the way.

Nagelsmann’s strategy to outline clear areas of responsibility for each of his players has created stability, while the coach has returned to a more conservative line-up, paying attention to the team’s defense.

A back row of four with two midfielders ahead is allowing offensive forces such as Jamal Musiala, Florian Wirtz, Ilkay Guendogan, and Kai Havertz to initiate surprising attacks.

With Mittelstaedt and Kimmich, the German coach seems to have solved the full-back problem that the team had been suffering from for several years.

With Union midfielder Robert Andrich, Nagelsmann seems to have found the holding six, covering the defensive midfield part aside from conducting Kroos.

While several newcomers and returnees enjoy the upswing, left-out players such as Dortmund’s stars Mats Hummels, Niklas Suele, Emre Can, and Julian Brandt, aside from Bayern’s Leon Goretzka, are in danger of missing Euro 2024.

Regarding his job as a project focused solely on the Euro outcome, Nagelsmann has instilled confidence by creating a tight-knit community.

Both recent victories have revitalized Germany’s national team, and as a side effect, previously disappointed fans are once again backing their team.

Source(s): Xinhua

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VAM appoints former president to lead once again

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Volleyball Association of Maldives (VAM) has appointed Mohamed Latheef, as its new president.

Latheef, who was the association’s president in 2016, was appointed to the position without an election. He was appointed at the association’s extarordinary congress held on Tuesday evening at Solite Restaurants.

He came to fill in the shoes of outogoing Mohamed Ranesh after his term expired on February 2024.

Since Latheef was the only one to submit his name for the position, the former Central Asian Volleyball Association (CAVA) President was appointed without any competition.

Besides the president, the extraordinary congress saw the election of four other Vice Presidents to the executive committee of VAM, with Mohamed Sajid securing Senior Vice President’s position.

Ali Latheef was elected as Vice President, Volleyball, and Izzath Waheed was elected as Vice President, Administration. Aaidha Abdul Hakeem was elected for the female-designate Vice President’s seat.

Additionally, four more members were elected for VAM’s executive committee that include Fathuhulla Waheed, Shiyam Ali, Sofwan Ahmed and Aishath Fatheena.

Although Latheef was first elected as VAM’s President in 2016, he lost the position after the then Sports Commissioner Heena Ahmed Saleem announced the disolution of the association’s executive committee in 2019 following an investigation.

Previously, VAM’s election to elect executive committee members was scheduled for March 15th, but the current Sports Commissioner Mohamed Tholal demanded for a delay.

The association received permission to go ahead with the election under conditions.

Source(s): sun.mv

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ACC raids Badminton Association as part of corruption probe

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Anti-Corruption Commission (ACC), on Tuesday, raided the Badminton Association of Maldives as part of a probe into corruption allegations.

ACC, on Tuesday, said an investigative team of the commission has entered the Badminton Association of Maldives to gather questions and information regarding multiple allegations of corruption filed against the association with the commission.

They did not disclose any further details regarding the case.

The case has come to light after major corruption cases against Football Association of Maldives (FAM) have been investigated following which charges have been sought against some individuals.

Source(s): sun.mv

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