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☆ NHL's Coyotes CEO, other Latino executives launch platform to promote Hispanics in sports
▼ + stars: | 2024-05-11 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Xavier Gutierrez, CEO of the Arizona Coyotes and CEO of ImpactX Sports Group (L), and Pedro Guerrero, CEO of Guerrero Media. Gutierrez had previously been a managing director at private equity firm Clearlake Capital Group and knew Meruelo for about a decade before becoming the NHL's first-ever Latino CEO. It took a Latino owner to hire a Latino CEO, Gutierrez explained in an interview, because Hispanics are not well-represented in leadership positions in professional sports. Gutierrez, who is technically still CEO of the Arizona Coyotes even though the franchise is inactive, says he is the only non-owner Latino CEO. Gutierrez and Pedro Antonio Guerrero, the CEO of executive advancement company Guerrero Media, introduced Latinos in Sports at an event in Miami last week.

Persons: Xavier Gutierrez, Pedro Guerrero, Alex Meruelo, Gutierrez, Jorge Mas, haven't, Pedro Antonio Guerrero, Vianni Lubus, Mike Valdes, Fauli, José Feliciano Organizations: Arizona Coyotes, ImpactX Sports, Guerrero Media, Hockey League's Arizona Coyotes, Arizona team's, Coyotes, Clearlake Capital Group, NHL, National Football League, National Basketball Association, Major League Baseball, Major League Soccer, MLS, Inter Miami CF, Sports, CNBC, Chemistry Cultura, Clearlake Capital, Premier League's Chelsea Football Club Locations: Utah, Arizona, Guadalajara, Mexico, Cuban, American, U.S, Canada, Miami

☆ Cloudflare stock jumps 21% on earnings beat as the company wins larger deals
▼ + stars: | 2024-02-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

The company's net loss of $27.9 million, or 8 cents per share, narrowed from $45.9 million in the year-ago quarter. On a conference call with analysts, Prince mentioned business from the U.S. Commerce Department. Analysts surveyed by LSEG had expected 12 cents per share in adjusted earnings and revenue of $372.3 million. The company sees 58 cents to 59 cents in adjusted earnings per share and revenue from $1.648 billion to $1.652 billion. Analysts polled by LSEG were looking for 56 cents in adjusted earnings per share and $1.652 billion in revenue.

Persons: Matthew Prince, David Paul Morris, Cloudflare's, Cloudflare, Prince, Mark Anderson, Marc Boroditsky, Michelle Zatlyn wouldn't, LSEG Organizations: Cloudflare Inc, Bloomberg, Getty, LSEG, U.S . Commerce Department, Clearlake Capital, Insight Partners Locations: San Francisco , California, Israel

☆ Man United nears sale of 25% stake to Jim Ratcliffe for $33 a share -Sky News
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +4 min

The Glazer family announced last November that they were exploring "strategic alternatives" for the club, including a possible sale and were open to fresh investment. Manchester United's U.S.-listed shares rose 9.5% to $20.10 in early trading on Friday. Manchester United generates more revenue and has a larger fan base than its London rival. The Glazer family has faced intense criticism from fans over its handling of this key part of the club's operations. The six descendants of American businessman Malcolm Glazer, who died in 2014, currently control 96% of Manchester United's voting stock.

Persons: Glazer, Jim Ratcliffe, Ratcliffe, Sir Alex Ferguson, Richard Arnold, Roman Abramovich, Todd Boehly, Phil Noble, Malcolm Glazer, Ineos, Eva Mathews, Matt Scuffham, Arun Koyyur, Susan Fenton Organizations: Manchester, soccer, Sky News, Old, Manchester United, Premier League soccer, Chelsea, U.S, Clearlake, REUTERS, Reuters, Tampa Bay Buccaneers, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, Thomson Locations: Old Trafford, Manchester United's U.S, London, Manchester, Britain, Ineos, British, Bengaluru

The move leaves the remaining bidder for Manchester United, Ineos chairman Jim Ratcliffe, in a stronger position. The exact value that Ratcliffe's bid infers on Manchester United could not be learned, but the sources said it was higher than Jassim's offer of more than $6 billion. Manchester United is currently valued by the stock market at $3.3 billion. Representatives for Jassim declined to comment while Manchester United and Ratcliffe representatives did not immediately respond to a request for comment. Record 20-time English champions, Manchester United has over 650 million fans worldwide, according to market research firm Kantar.

Persons: Phil Noble Livepic, Sheikh Jassim bin Hamad al Thani, Glazer, Jim Ratcliffe, Jassim, Ratcliffe, Todd Boehly, Malcolm Glazer, Alex Ferguson's, Erik ten Hag, Anirban Sen, Mrinmay Dey, Chizu Organizations: Soccer, Manchester United, Europa League, Friends, Reuters, Manchester United Plc, Representatives, Sky News, Chelsea Football Club, Clearlake, Tampa Bay Buccaneers, League, Manchester City, Thomson Locations: Stockholm, Sweden, Manchester, New York, Bengaluru

☆ Exclusive: Ratcliffe would pay more than $1.5 bln for 25% Manchester United stake-source
▼ + stars: | 2023-10-15 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +3 min

That is slightly higher than a rival offer from Qatar's Sheikh Jassim bin Hamad al Thani for $100% of the Premier League club. Manchester United is currently valued by the stock market at $3.3 billion. Sheikh Jassim informed the Glazer family in the last few days that he would not be raising his bid further. Ratcliffe has offered to be in charge of hiring and managing talent at Manchester United should his bid prevail, the source said. Manchester United and Ratcliffe did not immediately respond to a request for comment.

Persons: Jim Ratcliffe, Glazer, Qatar's Sheikh Jassim bin Hamad al, Sheikh Jassim, Ratcliffe, Malcolm Glazer, Ineos, Todd Boehly, Erik ten Hag, Anirban Sen, Greg Roumeliotis, Sandra Maler, Diane Craft Organizations: Manchester United Plc, Manchester United, Premier League, Tampa Bay Buccaneers, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, Chelsea Football Club, Clearlake, Manchester, League, Manchester City, Thomson Locations: Qatar's, Qatar's Sheikh Jassim bin Hamad al Thani, Manchester, Ineos, British, New York

☆ For U.S. investors seeking an edge in European soccer, the cheaper the better
▼ + stars: | 2023-10-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

This comes as deep-pocketed investors — from top U.S. private equity and venture capital firms to global rivals like sovereign wealth funds — have intensified competition. Meanwhile, more than one-third of the clubs in the so-called "Big Five" leagues in Europe are backed by U.S. investors, including private equity and venture capital firms. "These recent transactions have set a precedent in terms of club valuation but also prompted many owners to consider selling to [private equity]," according to an analyst report from PitchBook. Some firms, like Sixth Street Partners, have found different outlets into taking a stake in European soccer, particularly in Spain's LaLiga. The shift is happening as soccer clubs have been looking for fresh capital following the distress stemming from the earlier days of the Covid pandemic.

Persons: Liverpool's Curtis Jones, Charles Baker, PitchBook, Todd Boehly, English Premier League's, Elliott Management's, Lionel Messi Organizations: Premier League, King Power, U.S, Manchester United, Chelsea FC, Newcastle, Clearlake Capital, English Premier, English Premier League's Chelsea, Redbird Capital Partners, Italy's AC Milan, Sixth Street Partners, FC Barcelona, Fenway Sports Group, Liverpool FC, Dynasty Equity, English Premier League, Sheffield United Locations: Leicester, European, U.S, Europe, PitchBook, LaLiga, Spanish, Real Madrid's

REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsSept 7 (Reuters) - The private equity owners of EagleView Technologies are exploring a sale of the provider of aerial imagery and data analytics services that could value it at about $2 billion, including debt, according to people familiar with the matter. EagleView generates about $300 million in revenue and 12-month earnings before interest, taxes, depreciation, and amortization (EBITDA) of $165 million, the sources said. In 2018, Clearlake bought a significant stake from Vista, becoming an equal owner in EagleView. Bellevue, Washington-based EagleView Technologies is a provider of software that can be used to measure rooftops with satellite images from the sky, mainly used by insurance companies to make more accurate decisions. The company is utilizing a vast library of images and its patented 3-D measurement software to provide software tools to customers in industries such as insurance, construction, government and public utilities.

Persons: Lucas Jackson, William Blair, Rothschild, EagleView, Vista, Clearlake, Milana Vinn, Marguerita Choy Organizations: New York Fire Department, FDNY, FDNY's, Center, REUTERS, EagleView Technologies, Vista Equity Partners, Clearlake, Co, Vista, Technologies, Thomson Locations: New York, EagleView, Vista, EagleView . Bellevue , Washington

☆ Premier League clubs spend record 2.36 billion pounds in transfer window
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +3 min

The transfer window, which was open from June 14 to Sept. 1, exceeded last year's record 1.92 billion pounds, with the top-flight clubs spending 255 million pounds on deadline day alone, it said. Premier League clubs were responsible for 48% of the spending across Europe's top five leagues including Spain's LaLiga, Italy's Serie A, Germany's Bundesliga and France's Ligue 1. "Nearly three-quarters of Premier League clubs (14) spent more this summer than the last, reflecting the increased intensity of competition. Champions Manchester City signed midfielder Matheus Nunes for 53 million pounds this week, having brought Jeremy Doku for 55 million pounds, defender Josko Gvardiol for 77 million and midfielder Mateo Kovacic for 25 million earlier. According to the report, almost half of the transfer fees received by Premier League clubs from overseas came from the Saudi Pro League club (SPL), which has the fourth-highest transfer spend of any league globally.

Persons: Chris Radburn, Spain's LaLiga, Tim, Todd Boehly, Moises Caicedo, Enzo Fernandez, Matheus Nunes, Jeremy Doku, Josko Gvardiol, Mateo Kovacic, Kai Havertz, Declan Rice, Rasmus Hojlund, Sandro Tonali, Harvey Barnes, Calum Ross, Pearl Josephine Nazare, Martyn Herman, Gerry Doyle, Hugh Lawson Organizations: Soccer Football, Premier League - Brighton & Hove Albion, West Ham United, American Express, Premier League, Deloitte, Serie, Bundesliga, Ligue, Deloitte's Sports Business, Chelsea, Clearlake Capital, Champions Manchester City, Arsenal, Manchester United, Newcastle United, Nottingham Forest, Saudi Pro League, Thomson Locations: Brighton, Britain, London, Bengaluru

☆ City's Haaland, Spurs' Son score hat-tricks, Chelsea lose to Forest
▼ + stars: | 2023-09-02 | by ( Martyn Herman | ) www.reuters.com time to read: +5 min

Haaland, who scored four league hat-tricks in a record-shattering first season with City, is already in the groove and his triple against Fulham took his season's goal tally to six. Good start to the season," Haaland said. With manager Pep Guardiola absent following back surgery City took a while to get going against Fulham. Haaland set up the opener for Alvarez but Fulham levelled soon after through Ream who was left unmarked. SON HAT-TRICKTottenham's strong start to the league campaign continued at Burnley with Son scoring his fourth Premier League hat-trick although they had to come from behind.

Persons: Manchester City's Erling Braut Haaland, Molly Darlington, Burnley Brighton's Ferguson, Erling Haaland, Son Heung, Evan Ferguson, Julian Alvarez, Nathan Ake, Tim Ream, Haaland, Mauricio Pochettino, Anthony Elanga, Ferguson, Andy Cole, Pep Guardiola, City, Alvarez, Manuel Akanji, Marco Silva, Issa Diop, Sergio Gomez, Son, Lyle Foster, Cristian Romero, James Maddison, Ange Postecoglou's, Postecoglou, Todd Boehly, Forest's Elanga, Chelsea, We're, Pochettino, Abdoulaye Doucoure, Cameron Archer, Jordan Pickford's, Arnaut Danjuma, Martyn Herman, Ken Ferris Organizations: Soccer Football, Premier League, Manchester City, Fulham, Etihad, Fulham Son, Tottenham, Burnley, Newcastle Chelsea, Forest, Premier, Tottenham Hotspur, Brighton & Hove Albion, Newcastle United, City, Spurs, Turf Moor, West Ham United, Luton Town, Nottingham Forest, Everton, Sheffield United, Brentford, Bournemouth, Brighton's, Newcastle, Seagulls, Chelsea, Clearlake Capital, Thomson Locations: Manchester, Britain, City, Ream, Norwegian

☆ Chelsea sign Ecuador's Caicedo from Brighton for British record fee
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 14 (Reuters) - Chelsea have broken the British transfer record for the second time in a year by signing Ecuador midfielder Moises Caicedo from Brighton & Hove Albion on an eight-year contract on Monday. Financial details were not disclosed but British media said Chelsea will pay 115 million pounds ($145.96 million), eclipsing the 106 million pounds record fee the London club paid to sign Argentina midfielder Enzo Fernandez from Benfica in January. Caicedo still had four years to run on his Brighton contract but had told the south-coast club he wished to leave. 'TOP MIDFIELDER'Caicedo signed for Brighton in February 2021 for a reported 4.5 million pounds and was loaned to Belgian club Beerschot in August that year. He made his Premier League debut in April last year and scored his first Brighton goal against Manchester United in May.

Persons: Moises Caicedo, Enzo Fernandez, Caicedo, Juergen Klopp, Mauricio Pochettino, Todd Boehly, Moises, Tony Bloom, Roberto De Zerbi, Alexis Mac Allister, David Weir, Christopher Nkunku, Axel Disasi, Nicolas Jackson, Lesley Ugochukwu, Robert Sanchez, Angelo, Chelsea, Rohith Nair, Trevor Stynes, Ken Ferris Organizations: Chelsea, Brighton & Hove Albion, London, Benfica, Premier League, Brighton, Arsenal, Liverpool, Liverpool swooped, Clearlake Capital, Belgian, Beerschot, Manchester United, Argentina, West Ham United, Thomson Locations: Brighton, Argentina, Merseyside, London, Belgium

☆ Premier League investigating Chelsea over possible financial violations
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

Chelsea's new owners self-reported a number of financial transactions during the Abramovich era to European soccer's governing body UEFA, the Premier League and the FA. "We have been pretty open about the historic issues with regard to Chelsea because they self-reported to the Premier League and to the FA so it is obvious we are looking into that," Masters told the newspaper. "If the Premier League believes a club has breached the financial regulations and there is a case to answer, that case will be put to the club." "We want due process to be served in as efficient a way as possible, as quickly as possible," Masters added. Chelsea, who finished 12th in the Premier League following a chaotic campaign, will not be competing in Europe in 2023-24.

Persons: Mauricio Pochettino, Matthew Childs, Roman, Richard Masters, Abramovich, Todd Boehly, Masters, Tommy Lund, Pritha Sarkar Organizations: Soccer Football, Chelsea, Premier League, Britain's Times, Clearlake, UEFA, Times, London, Thomson Locations: Stamford, London, Britain, American, Russian, Ukraine, Moscow, Chelsea, Europe, Gdansk

☆ Italy's Juventus excluded from European competition next season - UEFA
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +3 min

The UEFA Club Financial Control Body (CFCB) opened a formal investigation into Juventus in December, months after the Italian side was among eight clubs that reached a settlement with UEFA for failing to comply with break-even requirements. In a statement on Friday, European soccer's governing body said it would "impose an additional financial contribution of 20 million euros on the club. However, we have decided not to appeal this judgment," Juventus Chairman Gianluca Ferrero said. "Following the club's sale in May 2022, the new ownership identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership," UEFA said. Chelsea, who finished 12th in the Premier League following a chaotic campaign, will not be competing in Europe in 2023-24.

Persons: Gianluca Ferrero, Ferrero, Chelsea, Tommy Lund, Aadi Nair, Pritha Sarkar Organizations: Juventus, Premier League, Chelsea, UEFA Club, UEFA, Conference League, Serie, UEFA Champions, CHELSEA, London, Thomson Locations: Europe, Chelsea

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ Chelsea: How American billionaire owner blew over $600 million but ended up with nothing this season
▼ + stars: | 2023-04-20 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +8 min

CNN —“We’re all in – 100%,” US billionaire businessman Todd Boehly told Chelsea fans upon his arrival at the club in May 2022. Chelsea crashed out of the Champions League after losing to Real Madrid 4-0 on aggregate. Following the loss against Real Madrid, Chelsea captain Thiago Silva spoke candidly to reporters on the issues that come with this kind of spending. Besides Kai Havertz and Marc Cucurella, no Chelsea outfield player has started more than 20 games in the Premier League this season. The Blues are on course to have their lowest scoring season in Premier League history with their current total of 30 goals.

☆ 6 startups that have raised $100 million or more in 2023 to change healthcare
▼ + stars: | 2023-04-11 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

The healthcare-staffing startup ShiftKey raised $300 million in a round led by its majority investor Lorient Capital. The clinical-trials-tech startup Paradigm raised a $203 million Series A round led by Arch Venture Partners and General Catalyst. The healthcare-staffing startup ShiftMed raised a $200 million round led by Panoramic Ventures. raised a $200 million round led by Panoramic Ventures. Vytalize Health, a startup that helps doctors provide value-based care, raised $100 million from Enhanced Healthcare Partners, Monroe Capital, and North Coast Ventures.

☆ See the 6 startups that have raised the most cash in 2023 to transform healthcare
▼ + stars: | 2023-04-05 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Startups in the industry raised $3.4 billion across 132 deals in the first three months of 2023. The healthcare-staffing startup ShiftKey raised $300 million in a round led by its majority investor Lorient Capital. The clinical-trials-tech startup Paradigm raised a $203 million Series A round led by Arch Venture Partners and General Catalyst. The healthcare-staffing startup ShiftMed raised a $200 million round led by Panoramic Ventures. raised a $200 million round led by Panoramic Ventures.

☆ Chelsea sack Potter with club 11th in Premier League
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +2 min

April 2 (Reuters) - Chelsea have sacked manager Graham Potter, the London club said on Sunday after a string of poor results left the team 11th in the Premier League. "Graham has agreed to collaborate with the club to facilitate a smooth transition," Chelsea said in a statement. "In his time with the club, Graham has taken us to the quarter final of the Champions League, where we will face Real Madrid. "We have 10 Premier League games remaining and a Champions League quarter final ahead. Potter is the 12th manager to be sacked in the Premier League this season and the announcement came hours after relegation-threatened Leicester City parted ways with Brendan Rodgers by mutual agreement.

☆ Blackbaud rejects $71/shr offer from stakeholder Clearlake
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 27 (Reuters) - Blackbaud Inc (BLKB.O) on Monday rejected a buyout offer from its largest shareholder Clearlake Capital that valued the software firm at $3.78 billion. Clearlake made an offer of $71 per share in cash, a premium of nearly 23% to Blackbaud's Friday close. Blackbaud provides donor management software for non-profit organizations, foundations and corporations. The private equity firm has been snapping up software firms as remote and hybrid working trends fueled demand for cloud services. It bought management software provider Cornerstone OnDemand and Quest Software in 2021.

LONDON, Feb 22 (Reuters) - Buyout financier Ares Management Corp (ARES.N) has been offering funds to support a takeover of Manchester United (MANU.N), three sources familiar with the matter told Reuters. It is the latest U.S. asset manager to seek a financing role in the battle for the English soccer club. It was unclear whether Ares has been looking to finance bids for Manchester United through that fund, which has already invested in Spain's Atletico de Madrid soccer club and Inter Miami CF, or another vehicle. Last Friday, Manchester United received indicative offers from bidders including chemicals firm INEOS, led by long-time fan Jim Ratcliffe, and Qatari Sheikh Jassim Bin Hamad Al Thani. INEOS wants to fund an offer without external financing, but could consider bringing in a minority equity partner, one source said.

☆ Thoma Bravo and Clearlake have posted negative returns for a major endowment, according to exclusive performance data. Middle-market firms have been much stronger.
▼ + stars: | 2023-02-21 | by ( Rebecca Ungarino | Ben Bergman | ) www.businessinsider.com time to read: +5 min

The returns show losses from Thoma Bravo and Clearlake, though the funds are new and PE is a long game. Thoma Bravo and Clearlake Capital Group, two private-equity firms that have emerged as notably active investors in recent years, have posted early losses across some of their funds, according to investment returns from a major US endowment. UTIMCO invested $51.7 million in Clearlake's seventh flagship private equity fund, known as Clearlake Capital Partners VII, which closed with some $14 billion of commitments last May. Thoma Bravo declined to comment. Meanwhile, the data show high returns from CapRock Partners, Renovus Capital Partners, Serve Capital Partners, and LFM Capital, PE firms that target middle-market companies.

☆ PayPal's CEO search amid an uncertain economy will be no easy task
▼ + stars: | 2023-02-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In case you missed it, PayPal CEO and President Dan Schulman announced his plan to retire at the end of 2023 earlier this month. Coming off an extremely difficult 2022, and with competition seemingly coming at them from every which way, PayPal has to find a new CEO. I hesitate to compare this to the seemingly never-ending CEO search at Carlyle, but it's easy to see how a difficult quarter or two could complicate this entire search. The rich stay rich thanks to another loophole that helps them save on taxes. Elliott Management's Paul Singer and Two Sigma's David Siegel both played second fiddle to Haidar Capital's Said Haidar in 2022 when it came to comp.

☆ Fanatics Hires Google Executive to Lead Push Into Live-Streamed Shopping
▼ + stars: | 2023-02-02 | by ( Patrick Coffee | ) www.wsj.com time to read: +3 min

Fanatics sees the potential for success thanks in large part to its internal database of some 90 million sports fans, said Mr. Bell. It will host video events led by digital content creators and influencers who focus on trading cards. Much of the initial content will focus on “breaking,” in which creators will open new boxes of trading cards live on camera and sell them to followers. Viewers will be able to buy cards directly from Fanatics’ app or website, with the company taking a portion of that sale, said Mr. Bell. Fanatics’ valuation reached $31 billion in December after a $700 million fundraising round led by private-equity firm Clearlake Capital Group LP.

☆ Rule-bending Chelsea take transfer gamble to give Potter ultimate selection headache
▼ + stars: | 2023-02-01 | by ( Peter Hall | ) www.reuters.com time to read: +4 min

Premier League soccer clubs spent a record 815 million pounds ($1.00 billion) in the January transfer window, an analysis from Deloitte's Sports Business Group said on Wednesday. It has, however, angered those who claim the Premier League is becoming a de facto European Super League due to its spending power. "What I'm worried about is the Premier League, and I've been worried for many years now," Spain's La Liga president Javier Tebas told a new conference this month. There is no sustainability in the Premier League. The Premier League is not a financially sustainable model."

☆ Chelsea smash British transfer record to sign Benfica's Fernandez
▼ + stars: | 2023-02-01 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

LONDON, Feb 1 (Reuters) - Chelsea announced the signing of Enzo Fernandez from Benfica on Wednesday after days of complex negotiations between the clubs to secure the Argentina midfielder for a British transfer record 106.8 million pounds ($131.46 million). Premier League club Chelsea announced the signing on Wednesday 1000 GMT via a video on Twitter, which showed a clip of a clock ticking down, making a reference to race against time to sign the World Cup winner. It takes Chelsea's transfer spending in January alone to close to 300 million pounds and to more than 500 million pounds since last May's takeover by an investment group led by American Todd Boehly and Clearlake Capital. His fee eclipses the 100 million pounds Manchester City paid Aston Villa for England midfielder Jack Grealish in 2021. On Tuesday, Chelsea sold experienced midfielder Jorginho to Premier League leaders Arsenal for 12 million pounds.

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