Manchester United's Old Trafford stadium. Shares surged in the club's shares in New York trading on Monday following news that the club would be a founder member of the proposed European Super League. Bloomberg
Manchester United's Old Trafford stadium. Shares surged in the club's shares in New York trading on Monday following news that the club would be a founder member of the proposed European Super League. Bloomberg
Manchester United's Old Trafford stadium. Shares surged in the club's shares in New York trading on Monday following news that the club would be a founder member of the proposed European Super League. Bloomberg
Manchester United's Old Trafford stadium. Shares surged in the club's shares in New York trading on Monday following news that the club would be a founder member of the proposed European Super League.

Manchester United and Juventus shares surge on European Super League news


Michael Fahy
  • English
  • Arabic

The values of two of the listed football clubs linked to the proposed new European Super League surged in trading on Monday.

Shares in Manchester United plc jumped 9 per cent to $17.62 at 6.25pm UAE time, valuing the company at $2.87 billion. Shares in Italy's most successful club Juventus were trading almost 19 per cent higher at just below €0.91 ($1.08), giving it a value of about €1.22bn ($1.47bn).

The two clubs are part of a group of 12 who announced in a statement late on Sunday that they plan to establish their own midweek European Super League, which will contain 15 founding clubs as well as a qualifying mechanism allowing five other clubs to compete to join. The competition will be financed by JP Morgan, the lender confirmed in a statement to AFP.

"By bringing together the world’s greatest clubs and players to play each other throughout the season, the Super League will open a new chapter for European football, ensuring world-class competition and facilities and increased financial support for the wider football pyramid,” Joel Glazer, Manchester United's co-chairman and vice-chairman of the new Super League said in a statement.

The competition will enable "European competition to be transformed, putting the game we love on a sustainable footing for the future", Mr Agnelli said.

Under the proposed deal, the 20 clubs would play in two groups of ten, with the top three from each automatically qualifying for quarter finals and the fourth and fifth clubs playing for the remaining spots. Participating clubs will receive "solidarity payments ... substantially higher than those generated by the current European competition" that are expected to be in excess of €10 billion during the course of an initial agreement period, with uncapped increases planned as the league's revenue grows.

The ten other founding clubs that have signed up to play in the super league are mainly privately-owned, although others are fan-owned organisations. They include five other English Premier League clubs – Manchester City, Liverpool, Arsenal, Tottenham and Chelsea – Spain's Atletico Madrid, Real Madrid and Barcelona, as well as Italy's AC Milan and Inter Milan.

Trading in shares in listed football clubs who are outside of the proposed European Super League were mixed. Shares in Borussia Dortmund, one of Germany's biggest clubs and the 12th-biggest European club by revenue, were about 11 per cent higher at €5.88 on the Deutsche Bourse's Xetra exchange, but AS Roma's shares were largely flat on the Borsa Italia and AFC Ajax's shares were up by about 1.3 per cent to €15.90 on the Euronext exchange in Amsterdam.

The move to create a breakaway Super League was condemned Europe's governing body, UEFA, which described it as a cynical project "founded on the self-interest of a few clubs at a time when society needs solidarity now more than ever".

UEFA announced a revised format for its existing competitions – the Champions League, Europa League and Conference League – from the 2024-25 season, which it said were "designed to secure the positive future of European football at every level and meet the evolving needs of all its stakeholders".

The changes involved expanding the total number of teams from 32 to 36 in the flagship Champions League competition, with clubs guaranteed at least 10 league games all against different opponents. Similar proposals were outlined for the other competitions.

UEFA said the changes were based on a "joint commitment to the principle of open competition and sporting merit across the continent", with a commitment to sustain each nation's domestic league.

The top 20 European football clubs will miss out on revenue of more than €2bn due to Covid-19 disruptions by the end of the current season, Deloitte's Sports Business Group said in January.

The clubs lost about €1.1 billion in revenue last year, mostly as a result of lost broadcast revenue but also due to declines in matchday and sponsorship revenue. All 12 of the European Super League founding clubs feature in the top 15 of Deloitte's Football Money League, which is based on revenues generated.

The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
UAE currency: the story behind the money in your pockets

Result
Qualifier: Islamabad United beat Karachi Kings by eight wickets

Fixtures
Tuesday, Lahore: Eliminator 1 - Peshawar Zalmi v Quetta Gladiators
Wednesday, Lahore: Eliminator 2 – Karachi Kings v Winner of Eliminator 1
Sunday, Karachi: Final – Islamabad United v Winner of Eliminator 2

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The Saga Continues

Wu-Tang Clan

(36 Chambers / Entertainment One)

UAE currency: the story behind the money in your pockets
Key facilities
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  • Premier League-standard football pitch
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The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape

What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.

In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.

It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

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  • I would recommend writing out the text in the body 
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  • Be wary of other embeds lengthy fact boxes could crash into 
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