Antoine Griezmann will continue to get his kicks with Atletico de Madrid after signing a year’s contract extension through to 2022.  Gonzalo Arroyo Moreno / Getty Images
Antoine Griezmann will continue to get his kicks with Atletico de Madrid after signing a year’s contract extension through to 2022. Gonzalo Arroyo Moreno / Getty Images

Transfer talk and news: Antoine Griezmann to stay at Atletico; Cristiano Ronaldo in tax mess; Claudio Ranieri lands at Nantes



GRIEZMANN EXTENDS CONTRACT WITH ATLETICO

Atletico Madrid’s France forward Antoine Griezmann has signed a year’s contract extension through to 2022, seemingly ending what was shaping up to be one of the sagas of the transfer window.

Griezmann, third in the 2016 Ballon d’Or behind Cristiano Ronaldo and Lionel Messi, had been heavily linked to Europa League winners Manchester United in recent weeks.

The 26-year-old last month told French television programme Quotidien that a move to United was “possible”, before stating there was a “six out of 10 chance” it would happen.

However, Atletico president Enrique Cerezo said on Spanish radio on Tuesday that Griezmann had agreed an extended deal with a pay rise but the same US$112.12 million (Dh412m) release clause.

The club later confirmed the news.

“I want to apologise if anyone misunderstood my words,” Griezmann said on the club website (en.atleticodemadrid.com).

“I may have expressed myself poorly or people have got headlines where there were none but since I’ve been here I’ve given everything for my club, my team mates and this coaching staff and I’m really happy to be here for another season with everyone.”

Local media reported that Griezmann’s new contract makes him the highest-paid player in the club’s history, with an annual salary of about 14 million euros.

The Court of Arbitration for Sport’s decision to uphold a transfer ban on Atletico for signing minors has prevented them registering new players until January 2018.

That appears to have played a big part in Griezmann’s decision to remain with the club he joined for 30 million euros from Real Sociedad in 2014.

“It’s a tough time for the club and it would be a dirty move to leave now,” Griezmann had said when the ban was upheld this month. He also tweeted, “Now more than ever #Atleti”, in a pledge of loyalty before putting pen to paper on his new deal.

RONALDO ACUSSED OF TAX EVASION

Real Madrid’s Cristiano Ronaldo was accused of evading 14.7 million euros in tax through offshore companies, the latest footballer to fall foul of fiscal authorities in Spain.

The 32-year-old – the world’s highest-paid athlete according to Forbes magazine – follows in the steps of Barcelona forward and Argentina star Lionel Messi, who was found guilty of the same offence last year although the sums involved were allegedly smaller.

The issue of tax evasion has caused anger in a country only just emerging from a damaging economic crisis that has seen countless people lose their jobs and inequalities rise.

Ronaldo is accused of “four crimes against the public treasury between 2011-14 ... which involves tax fraud of 14,768,897 euros”, the office said in a statement.

“The accused took advantage of a company structure created in 2010 to hide income generated in Spain from his image rights from tax authorities, which is a ‘voluntary’ and ‘conscious’ breach of his fiscal obligations in Spain.”

Prosecutors accuse the Portugal international of evading tax via a shell company based in the British Virgin Islands and another in Ireland, known for its low corporate tax rate.

In addition, they say he only declared 11.5 million euros of Spanish-related income from 2011 to 2014, while what he really earned during that time was close to 43 million euros.

And finally, they accuse him of “voluntarily” refusing to include 28.4 million euros in income linked to the sale of his image rights for the 2015 to 2020 period to a Spanish company.

RANIERI LANDS WITH NANTES

Italian Claudio Ranieri is the new coach of Nantes, the Ligue 1 side said, just four months after he was sacked by Leicester City.

Nantes had to ask for – and received – special dispensation from French league officials to hire the popular Italian as he has reached the manager’s age limit of 65.

Ranieri guided Leicester to one of modern sport’s great upsets in the 2015/16 season as the Foxes won the Premier League in his first campaign in charge.

But his second season was a disaster as the team flirted with relegation and he was sacked in February.

Nantes finished seventh in Ligue 1 last season but a week ago agreed to allow Portuguese coach Sergio Conceicao to return to his homeland and take over the reins at Porto.

EVERTON CLOSING ON PICKFORD

Everton have agreed a £38 million (Dh178m) deal to sign Sunderland goalkeeper Jordan Pickford, according to British media reports.

Pickford was Everton manager Ronald Koeman’s top target to take over from Maarten Stekelenburg and Joel Robles, who both endured inconsistent spells last season.

Sunderland have accepted an offer from Everton which could rise to £30 million with various add-ons included in the package.

England Under-21 international Pickford was one of the few bright spots as Sunderland were relegated from the Premier League last season.

He earned a call-up to England’s senior ranks in October and has represented the country at each of the six youth levels from Under-16 upwards.

Should the terms of each of the add-ons be met, Pickford would become Everton’s record signing, eclipsing the £28 million they paid for Romelu Lukaku in 2014.

The fee is short of the £35 million Manchester City parted with earlier in the close-season to land Brazilian keeper Ederson, though Pickford would be the most expensive British goalkeeper ever.

That honour currently belongs to Southampton’s Fraser Forster, who cost £10 million in 2014.

LEDLEY CONSIDERING MOVE ABROAD

Wales midfielder Joe Ledley is ready to play abroad as he aims to get regular first-team action after a frustrating past few months at Crystal Palace under the club’s former manager Sam Allardyce, the 30-year-old has said.

Ledley was released by the Premier League club after making just 21 appearances in the previous campaign, the last of which came in February’s 4-0 loss to Sunderland.

“There have been clubs in touch with my agent all over the world,” Ledley told British media. “I’d be prepared to go abroad. I think it would appeal to me, especially having played international football because I love playing on that stage and I think it suits the way I play.

“I’ll see the options I have and go from there.”

The Wales international played in his nation’s recent World Cup qualifiers, a goalless draw with Ireland in March and a 1-1 draw with Serbia on Sunday.

He said leaving Palace was the best course of action.

“It’s been frustrating. I don’t know why I’ve not been even in the squads, but it was the decision of the manager (Allardyce) and I had to deal with it and get on with it,” Ledley said.

“It’s definitely for the best. I spent three-and-a-half years at the club and gave my all there and I think the fans know that.

“When you’re not getting picked for as long as I wasn’t then you have to do something about it ... I need to be playing, especially at my age having turned 30 now.”

DI FRANCESCO INCHES CLOSER TO ROMA POST

Sassuolo manager Eusebio Di Francesco moved a step closer to taking over at Roma after the clubs agreed a compensation package.

Roma have been looking for a new manager since Luciano Spalletti left last week to join fellow Serie A side Inter Milan.

Di Francesco, a former midfielder with Roma, has been a long-time target for the capital club and, according to reports, could be officially appointed later Wednesday.

Last year, Di Franceso extended his Sassuolo contract to 2019 but Sky Sport claim a compensation deal now has been agreed with Roma.

Di Francesco joined Sassuaolo in 2012 and steered them to the 2013 Serie B title.

Although he was sacked in January 2014 following a run of poor results, Di Francesco was brought back just two months later and has since kept Sassuolo in Serie A.

He made 168 appearances for Roma before taking a role as team manager at the club following his playing retirement, before embarking on his coaching career in 2008 with Virtus Lanciano in the Italian third tier.

Roma finished runners-up last season and will play in the Uefa Champions League next season.

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The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
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Director: Jared Hess

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Total eligible population

About 57.5 million people
51.1 million received a jab
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Where are the unvaccinated?

England 11%
Scotland 9%
Wales 10%
Northern Ireland 14% 

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5