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☆ Frenchman Dembele signs for Al-Ettifaq
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26(Reuters) - French striker Moussa Dembele has joined Al-Ettifaq as a free agent following the expiry of his contract at Olympique Lyonnais, the Saudi Pro League club said on Wednesday. "Moussa Dembele, welcome to Al-Ettifaq," the club posted on messaging platform X, previously known as Twitter. Dembele proved to be a sensation in the Scottish league after signing for Celtic in 2016, helping them to back-to-back treble titles. Following Cristiano Ronaldo's move to Al-Nassr in December, several big names have been linked with the Saudi Arabian Pro League. Reporting by Angelica Medina in Mexico City and Tommy Lund in GdanskOur Standards: The Thomson Reuters Trust Principles.

Persons: Moussa Dembele, Dembele, Jack Hendry, Cristiano Ronaldo's, Nassr, Angelica Medina, Tommy Lund Organizations: Olympique Lyonnais, Saudi Pro League, Scottish, Celtic, Lyon, Atletico Madrid, Ligue, Scotland, Belgian, Club Brugge, Saudi Arabian Pro League, Thomson Locations: Mexico City, Gdansk

☆ Henderson bids farewell to Liverpool after 12 years
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Midfielder Jordan Henderson said farewell to Liverpool fans in a video posted on social media on Wednesday, confirming his departure from the club after 12 years ahead of a reported move to Saudi Arabia's Al-Ettifaq. The former Liverpool captain will join the Saudi Pro League after Al -Ettifaq paid a fee estimated at 13 million pounds ($16.77 million), according to reports. "It's hard to put these last 12 years into words and it's even harder to say goodbye," the 33-year-old wrote on his Instagram account. He also captained Liverpool to the FA Cup, League Cup, UEFA Super Cup and Club World Cup titles. Henderson will reunite at Al-Ettifaq with former Liverpool team mate Steven Gerrard, who was appointed as a coach on a three-year contract earlier this month.

Persons: Jordan Henderson, Saudi Arabia's, Ettifaq, You'll, Henderson, Juergen, Steven Gerrard, Janina Nuno Rios, Pritha Sarkar Organizations: Liverpool, Saudi Pro League, Al, Sunderland, England, Premier League, FA Cup, League Cup, UEFA, Thomson Locations: Saudi, Anfield, Mexico City

☆ Kylian Mbappé: NBA stars joke about superstar’s reported salary offer from Saudi club Al Hilal
▼ + stars: | 2023-07-25 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

It’s a proposed deal which reportedly includes a staggering $775 million salary packet for the 24-year-old Mbappé. News of the offer spread through social media on Monday and caught the attention of the NBA’s biggest stars. Milwaukee Bucks star Giannis Antetokounmpo posted a picture of himself to Twitter, with the caption: “Al Hilal you can take me. It’s a figure dwarfed by the earnings that Mbappé would reportedly receive for one season at Al Hilal. CNN has reached out to PSG, Al Hilal and Mbappé’s representatives for comment.

Persons: Saint Germain, Al Hilal, It’s, Giannis Antetokounmpo, “ Al Hilal, ” Al Hilal, e nch ca, “ Organizations: CNN, PSG, Saudi, Milwaukee Bucks, Twitter Locations: Paris, Saudi Arabian, Al

☆ Saudi soccer dominance could still take 'decades' despite reported $332 million Mbappé bid
▼ + stars: | 2023-07-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Aurelien Meunier - PSG/PSG via Getty ImagesSaudi Arabian soccer club Al-Hilal reportedly tabled a world record 300 million euro ($331.9 million) bid for Paris Saint-Germain star Kylian Mbappé, a further signal of the kingdom's efforts to shake up the sport's global order. Al-Ahli snapped up Chelsea goalkeeper Edouard Mendy and former Liverpool striker Roberto Firmino, and have just agreed a £30 million ($38.54 million) deal to bring in forward Riyad Mahrez from reigning English Premier League and European champions Manchester City. A medium-term threat Soccer isn't the first sport to be rocked by a sudden wave of Saudi investment. This is more like a couple of decades before I think we could see some significant impact." Cristiano Ronaldo stands prior to the Saudi Pro League week 28 soccer match between Al-Nassr and Al-Shabab at Alawwal Park Stadium in Riyadh, Saudi Arabia on May 23, 2023.

Persons: Kylian, Paris Saint, Germain, Le, Aurelien Meunier, Hilal, Mbappé, Nassr, Cristiano Ronaldo, Marcelo Brozovic, Alex Telles, Ronaldo, Ballon, Karim Benzema, N'Golo Kante, Edouard Mendy, Roberto Firmino, Mahrez, Anmar Al, Khalid Alhaj, Al, Ruben Neves, Kalidou Koulibaly, Sergej Milinkovic, Savic, LIV, Michael Goldberg, DBRS Morningstar, Goldberg, Jude Bellingham, Mohammed Saad Organizations: Paris Saint, Campus PSG, PSG, Getty Images, Al, French, country's Public Investment Fund, Real, English Premier League, Newcastle United, Saudi, — Al, Saudi Pro League, Inter Milan, Manchester United, Real Madrid, Chelsea, Liverpool, Manchester City, King Abdullah Sports City, Premier League's Wolverhampton Wanderers, Senegalese, Lazio, UEFA, Champions League, England's Premier League, Liga, Germany's Bundesliga, Italian Serie, isn't, DBRS, CNBC, Bayern Munich, Juventus, Borussia Dortmund, Alawwal, Anadolu Agency, Getty Locations: POISSY, France, Paris, Le Havre, Getty Images Saudi Arabian, Qatar, Real Madrid, Spanish, Saudi, Ittihad, Al, Hilal, Ahli, JEDDAH, Saudi Arabia, Europe, Italian, Barcelona, Liverpool, Shabab, Riyadh

☆ Saudi Mbappé bid even less rational than it looks
▼ + stars: | 2023-07-25 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Yet a possible outlay of 1 billion euros, including compensation, takes the country’s sporting tactics to surreal new heights. Added to the transfer fee, that takes the outlay to around 1 billion euros. Spain’s LaLiga generated about 900 million euros in international broadcast revenue in the 2020-2021 season, according to Deloitte. CBS Sports reported that Al Hilal was also offering Mbappé a total one-year compensation package worth 700 million euros. The Guardian reported that Mbappé’s one-year salary would be 200 million euros, rising to 700 million euros after including other commercial arrangements and proceeds from image rights.

Persons: Al Hilal’s, Kylian, Germain, Declan Rice, Mbappé, Mbappé aren’t, Al Hilal, George Hay, Streisand Neto Organizations: Reuters, Paris Saint, Arsenal, Saudi Pro League, Guardian, Deloitte, English Premier League, Saudi, Newcastle United, Premier League, Economics, Regional, Qatar, Britons, Al, Financial Times, Bloomberg, CBS Sports, Thomson Locations: Kingdom of Saudi Arabia, Qatar, Paris, China, Saudi, France’s, Saudi Arabian, French

Those deals, though, pale into comparison with its most ambitious target yet: Kylian Mbappé. Over the weekend, one of the Saudi Professional League’s more prominent teams, Al Hilal, submitted an offer worth $332 million for the France striker to his current team, Paris St.-Germain. Should the deal go through, it would make Mbappé the most expensive player in the sport’s history by some distance, dwarfing the $263 million P.S.G. On Tuesday, it was reported by some news outlets that P.S.G. for a team in what was most recently ranked as soccer’s 58th strongest domestic league.

Persons: Cristiano Ronaldo, Karim Benzema, Al Hilal, Germain, ’, Nasser Al, Al Hilal’s, Fayza Lamari, Mbappé, Ronaldo, Lionel Messi Organizations: Saudi, France, Mbappé Locations: Saudi, Paris St

☆ Opinion: Messi mania meets USWNT three-peat fever
▼ + stars: | 2023-07-22 | by ( Opinion Amy Bass | ) edition.cnn.com time to read: +7 min

On the other side of the world in Auckland, the USWNT took down World Cup newcomer Vietnam 3-0. It was nonsense to worry about what to watch or whether Messi would upstage the women. MLS chief Don Garber, for one, says he’s not worried about the impact Saudi money could have on the ability of the MLS to expand into markets outside the US, especially as it failed to win Messi. Friday may have been the first time in his life that Messi was someone else’s opening act. The USWNT did what was expected, beating a lesser team in Vietnam, but they also have a lot of work in front of them.

Persons: Amy Bass, Read, Lionel Messi, Amy Bass Rodney Bedsole, Cruz Azul, Messi, Pelé, David Beckham, Cristiano Ronaldo’s, Al Nassr, LIV, Don Garber, he’s, Messi subbed, ” Garber, “, ”, Inter Miami’s, King ” LeBron James, Sophia Smith, —, Trinity Rodman, Rodman, Tran Thi, Alex Morgan, Tran Thị Kim Thanh, Captain Lindsey Horan, Megan Rapinoe, David, anyone’s, Brenda Elsey, England, Sam Kerr Organizations: Manhattanville College, CNN, Major League Soccer’s Inter Miami, US, National, Cruz, Leagues, Vietnam, National American Soccer League’s New York Cosmos, Inter Miami, Messi, LA Galaxy, MLS, Saudi Pro, Major League Soccer, Inter, Trinity, Colombian, Twitter, Facebook, Canada, Haiti Locations: Florida, New Zealand, Fort Lauderdale, Auckland, American, Miami, Inter Miami, Vietnam, Haiti, Philippines, Zambia, Germany, Morocco, Qatar, Nigeria

☆ Jordan Henderson looks set to join a Saudi Arabian club. Once seen as an ally for LGBTQ groups, his move has drawn criticism
▼ + stars: | 2023-07-20 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +6 min

On Thursday, the BBC reported that Liverpool had agreed to Henderson joining Saudi Arabian club Al-Ettifaq in a £12 million ($15.4 million) transfer. Liverpool and Al-Ettifaq did not immediately respond to CNN’s request for comment on Henderson’s widely reported impending transfer. Except Henderson’s transfer has attracted more scrutiny than those other players who have moved to Saudi Arabia. Henderson wears a rainbow captain's armband in support of the Rainbow Laces campaign during a match. The country regularly receives criticism for its treatment of LGBTQ people, women and migrant workers, as well as its human rights record.

Persons: Jordan Henderson’s, He’s, Jürgen Klopp’s, Henderson, Ettifaq, Ballon d’Or, Karim Benzema, N’Golo, Kalidou Koulibaly, Edouard Mendy, Roberto Firmino –, Laurence Griffiths, ‘ Football Ally, Mr Henderson, ” “, ’, 3LionsPride, “, Robbie de Santos, Jordan Henderson, ” De Santos, ” Organizations: CNN, England, Liverpool, English Premier League, Champions League, BBC, Saudi Arabian, Saudi Professional League, Stonewall, ‘ Football, Human Rights, Ukraine, Twitter, LGBT, CNN Sport, Communications, Affairs Locations: Saudi Arabia, Dammam, Al, Saudi, England

☆ Cristiano Ronaldo says Saudi league is better than MLS following Lionel Messi’s move to Inter Miami
▼ + stars: | 2023-07-18 | by ( Matias Grez | ) edition.cnn.com time to read: +1 min

CNN —Cristiano Ronaldo has claimed the Saudi Arabian soccer league is better than Major League Soccer (MLS) just a day after long-time rival Lionel Messi completed his move to the US to play for Inter Miami. “The Saudi league is better than MLS,” Ronaldo said following Al Nassr’s 5-0 pre-season friendly defeat to Celta Vigo, Reuters reported. The 38-year-old said last month that any new signings for Saudi clubs would be “very welcome” to join him in the league. Since then, Karim Benzema, N’Golo Kante, Kalidou Koulibaly, Edouard Mendy and Roberto Firmino have been among the star names to move to the Saudi Pro League (SPL). Ronaldo also said he would never return to Europe to play soccer as the strength of the leagues are diminishing.

Persons: CNN — Cristiano Ronaldo, Lionel Messi, Messi, Germain, “, ” Ronaldo, Al Nassr’s, Al Nassr, Karim Benzema, N’Golo, Kalidou Koulibaly, Edouard Mendy, Roberto Firmino, Ronaldo, ”, Mike Ehrmann Organizations: CNN, Saudi Arabian, Major League Soccer, Inter Miami, Paris Saint, Saudi, MLS, Celta Vigo, Reuters, Manchester United, Saudi Pro League, ESPN, Premier League, SPL, Al Locations: Saudi, Saudi Arabia, Europe, Al Ittihad

The cold calls and text messages started arriving on Jan Van Winckel’s phone a couple of months ago, and they have not stopped. They come at a rate of about 10 a day, he said, a steady stream of hope-you’re-wells and long-time-no-speaks from old acquaintances, archived contacts, friends of friends of friends. That is what makes him valuable to agents, brokers and executives pinging his phone, over and over, all asking for the same thing: an introduction to a Saudi club president, a connection to an official at the Saudi Pro League, the phone number of someone, anyone, who might be able to help them stake their claim in soccer’s new gold rush. In the first week of June, Saudi Arabia’s soccer authorities and its sovereign wealth fund announced an audacious plan to transform the game in the kingdom: The Public Investment Fund, they announced, would take control of four of Saudi Arabia’s most prominent teams, and hundreds of millions of dollars would be made available to buy some of the game’s biggest stars. And in that moment, even before the first checks were cut, the Pro League became one of the most appealing destinations in the world.

Persons: Jan Van Winckel’s, Van Winckel Organizations: United Arab, Saudi Pro League, Public Investment Fund, Saudi, Pro League Locations: United Arab Emirates, Saudi Arabia, Saudi

☆ Oil steady as demand woes from weak economic data offset by OPEC+ cuts
▼ + stars: | 2023-07-10 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

HOUSTON, July 10 (Reuters) - Oil prices were little changed on Monday in choppy trading as demand woes after weak economic data from top consumers the United States and China were offset by expected crude supply cuts from Saudi Arabia and Russia. "Oil traders may be cautious ahead of the U.S. CPI (Consumer Price Index) and China's slew of economic data later this week," CMC Markets analyst Tina Teng said of inflation data due on Wednesday. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. However, crude prices could rebound after producer group OPEC+ announced plans to reduce supply further, Teng added. Money managers stepped up net long positions in oil futures and options contracts in the latest weekly data.

Persons: Brent, Tina Teng, Loretta Mester, Teng, Ole Hansen, Hansen, Arathy Somasekhar, Noah Browning, Florence Tan, Emily Chow, Alexander Smith, David Goodman, Peter Graff Organizations: . West Texas, U.S . CPI, Consumer, CMC, U.S . Federal Reserve, Federal Reserve Bank, Cleveland, OPEC, International Energy Agency, Saxo Bank, Money, Thomson Locations: United States, China, Saudi Arabia, Russia, ., Saudi, WTI, Brent

☆ Saudi Arabia and Russia to Extend Oil Cuts
▼ + stars: | 2023-07-03 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

Saudi Arabia said Monday that it would extend a cut in oil production of 1 million barrels a day that it announced in June through at least August, trying to push up what officials view as stubbornly weak oil prices. The Saudis were joined by Russia, whose deputy prime minister, Alexander Novak, said that Moscow would cut supplies by 500,000 barrels in August. Together, these trims could amount to 1.5 percent of global supplies. Oil prices rose modestly on news of the cuts, with Brent crude, the global benchmark, rising above $76 a barrel before falling back slightly. The latest round of Saudi production cuts began at the start of this month.

Persons: Alexander Novak, Brent, ”, Russia’s, Mr, Novak Organizations: Saudi Press Agency Locations: Saudi Arabia, Russia, Moscow, Saudi

Hedge funds and other money managers purchased the equivalent of 25 million barrels in the six most important petroleum futures and options contracts over the seven days ending on June 20. The combined position was 346 million barrels (12th percentile for all weeks since 2013) which was essentially unchanged from 350 million barrels on March 28 after the eruption of the U.S. regional banking crisis. Chartbook: Oil and gas positionsIn the most recent week, funds bought Brent (+16 million barrels), NYMEX and ICE WTI (+5 million) and European gas oil (+9 million) but sold U.S. gasoline (-2 million) and U.S. diesel (-4 million). The position in crude (268 million barrels, 8th percentile) is basically unchanged since late March and the position in middle distillates (22 million barrels, 29th percentile) is unchanged since early April. But economic growth is decelerating across North America, Europe and China, dampening expected consumption of oil.

Persons: John Kemp, Mark Potter Organizations: U.S, Brent, ICE, U.S . diesel, Funds, Saudi, Thomson, Reuters Locations: Saudi Arabia, distillates, OPEC, North America, Europe, China, U.S

☆ Saudi Arabia: What is the nation hoping to achieve amid transfer takeover and what happens next?
▼ + stars: | 2023-06-25 | by ( Kaveh Solhekol | ) www.cnbc.com time to read: +6 min

Sky Sports News chief reporter Kaveh Solhekol analyses this transfer market trend... Why are Saudi Arabia spending huge sums on foreign players all of a sudden? Saudi Arabia is looking to expand its economy through other industries in order to help guarantee its financial future. It wants to put Saudi Arabia on the map and raise its profile. What else is Saudi Arabia hoping to achieve? Has Saudi Arabia distorted the transfer market forever?

Persons: Cristiano Ronaldo, Mohammed Saad, Ballon, Karim Benzema, Sergio Ramos, Bernardo Silva, Heung, Min Son, Kaveh, Mason Mount Chelsea, Declan Rice, Saudi Arabia —, sportswashing, Jamal Khashoggi, Oscar, West Ham's Marko Arnautovic, Lionel Messi, Ruben Neves, Kalidou Koulibaly, Hakim Ziyech, Erling Haaland, Harry Kane, Mohammed Hamdi, It's, Son Organizations: Saudi Pro League, Al, Alawwal, Anadolu Agency, Getty Images, Real, Chelsea, Premier League, Sky Sports News, Sky Sports, Manchester United, Arsenal, Soccer, Qatar, eventual, Argentina, Amnesty, Rights, Rights Watch, United, Super League, Brazil, Communist Party, Chinese Super League, MLS, Al Jazira FC, Saudi, Tottenham, Spurs Locations: Al, Shabab, Riyadh, Saudi Arabia, Getty Images Saudi Arabia, Real Madrid, Bournemouth, Saudi, United Nations, Kingdom of Saudi Arabia, Greece, Egypt, China, Europe, Al Hilal, Al Jazira, Abu Dhabi, Qatar

☆ Summer transfer window: The biggest moves so far as Saudi Arabia becomes major factor
▼ + stars: | 2023-06-23 | by ( Matias Grez | ) edition.cnn.com time to read: +10 min

CNN —European soccer’s summer transfer window is in full swing, with several household names already moving to pastures new. Karim Benzema – Real Madrid to Al-IttihadIn the first major coup of the summer for the Saudi Pro League, Karim Benzema has agreed to join Al-Ittihad once his contract expires with Real Madrid. After a disappointing season, Real Madrid will be hopeful that Bellingham will be a star midfielder for years to come once the ageing Luka Modric and Toni Kroos depart. The 32-year-old midfielder has signed a contract worth around £86 million ($109.8 million) a year, according to UK media. Rice, who was in the youth ranks at Chelsea and then West Ham, was voted Conference League player of the season.

Persons: Cristiano Ronaldo’s, Al Nassr, Karim Benzema –, Karim Benzema, Ittihad, Benzema, Frenchman, Jude Bellingham, Real Madrid Jude Bellingham, Florencia Tan Jun, Bellingham, Luka Modric, Toni Kroos, N’Golo Kanté, Ittihad N'Golo Kanté, Justin Tallis, Kanté, Christopher Nkunku –, Chelsea Christopher Nkunku, Annegret Hilse, Germain, Chrisopher Nkunku, Nkunku, Todd Boehly, Kai Havertz, Germany's, Maja Hitij, Kai Kavertz, Mikel Arteta, Havertz, Boehly, Declan Rice –, Declan Rice, Richard Heathcote, Rice, West Ham’s, Mateo Kovačić –, Mateo Kovačić, Pep Guardiola’s, İlkay Gündoğan, Bernardo Silva, Alexis Mac Allister, Alex Pantling, Lionel Messi, Mac Allister, Jurgen Klopp, Mac, Roberto Firmino’s, Rúben Neves, Al Hilal Rúben Neves, Naomi Baker, Al Hilal, Neves Organizations: CNN, Super League, CNN Sport, Saudi Pro League, Al, Real Madrid, League, La Liga, Real, Champions League, Borussia Dortmund, Birmingham City, English, Ittihad N'Golo, France, Getty, Benzema, Chelsea, Premier League, FA, Europa League, UEFA Super, Leicester, Leipzig, RB Leipzig, Bundesliga, Reuters, Paris Saint, Arsenal, Ukraine, Gunners, Manchester City, football’s, Europa Conference League, Gent, Manchester United, Estadio Santiago Bernabeu, Manchester, Argentina, Brighton, Liverpool, Anfield, Wolverhampton Wanderers, Wolves, Everton, Molineux, Portugal Locations: England, Saudi Arabia, Europe, Portuguese, Saudi Arabian, Karim Benzema – Real Madrid, Al, Ittihad, Bellingham, Dortmund, Real Madrid, Chelsea, Leicester, Paris, Leipzig, Bremen, Germany, Declan Rice – West Ham, West Ham, Mateo Kovačić – Chelsea, Madrid, Spain, Croatian, Brighton, Argentina, Qatar, Barcelona

☆ Gerrard says not taking up Saudi coaching offer
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Steven Gerrard said he had decided against taking up an offer to coach in Saudi Arabia following reports the former Liverpool captain was considering an offer to become coach of Saudi Pro League side Al-Ettifaq. "I was invited over there to look at a potential offer, which I did," the former England captain told Channel 4. But, as we stand right now, I won't be taking that offer up." Several high-profile names have been linked with moves to Saudi Arabia in recent months after Cristiano Ronaldo signed with Al-Nassr in December. Reporting by Pearl Josephine Nazare in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Steven Gerrard, Cristiano Ronaldo, Nassr, Pearl Josephine Nazare, Peter Rutherford Organizations: Liverpool, Saudi Pro League, Al, Rangers, Scottish, Aston Villa, Channel, Thomson Locations: Saudi Arabia, England, Bengaluru

Hedge funds and other money managers sold the equivalent of 21 million barrels of crude oil options and futures but purchased 18 million barrels of products, including 14 million of distillates, over the week ending on June 13. The biggest rotation has been from U.S. crude to European gas oil, reflecting the rise in crude inventories in the United States while stocks of distillates, used heavily in Europe, remain well below normal around the world. The most recent weekly increase in gas oil positions was the largest for almost two years since August 2021 and before that November 2020. Funds had already built a fairly sizeable position in U.S. diesel and now bullishness is starting to spill over into European gas oil. U.S. commercial crude oil inventories were 16 million barrels (+4% or +0.28 standard deviations) above the prior ten-year seasonal average on June 9.

Persons: ”, John Kemp, Kirsten Donovan Organizations: ICE, Funds, diesel, Saudi, Thomson, Reuters Locations: United States, Europe, NYMEX, U.S, Freeport LNG, Saudi

Hedge funds and other money managers purchased the equivalent of 28 million barrels in the six most important petroleum futures and options contracts over the seven days ending on June 6. Funds bought Brent (+22 million barrels), U.S. diesel (+7 million) and European gas oil (+4 million) but sold NYMEX and ICE WTI (-2 million) and U.S. gasoline (-3 million). Portfolio investors are especially bearish about crude, with a net position of 269 million barrels (7th percentile) and a long-short ratio of 2.39:1 (14th percentile). The hedge fund community has become especially bearish about the outlook for European gas oil given indications the region is already in recession. Funds were net short by 12 million barrels (3rd percentile) with a long-short ratio of 0.73:1 (2nd percentile).

Persons: Saudi Arabia’s, WTI, ”, John Kemp, Alexander Smith Organizations: Investors, Funds, U.S ., ICE, Bloomberg, Thomson, Reuters Locations: Saudi, China, U.S, Riyadh, OPEC, Freeport

☆ Saudi Arabia is now stealing sporting headlines as prince pursues global ambitions
▼ + stars: | 2023-06-12 | by ( Nic Robertson | ) edition.cnn.com time to read: +9 min

CNN —Saudi Arabia has been in the headlines a lot lately – this time for trying to find its place in the sporting world. The kingdom’s golfing coup is perhaps the crowning sporting achievement so far of heir apparent Crown Prince Mohammed Bin Salman (MBS). Regional outlierBy the time King Salman came along, the 21st century was passing Saudi Arabia by. Saudi Arabia has led efforts to bring Syria in from the cold and tried to mediate in conflicts such as those in Sudan and even Ukraine. On oil, he has made Saudi Arabia a bolder player.

Persons: LIV Golf, Cristiano Ronaldo, Ballon d’Or, Karim Benzema, Jamal Khashoggi, Prince Mohammed Bin Salman, King Salman’s, King Salman, LIV, Liberalizations, Al Hathloul, can’t, Xi Jinping, Vladimir Putin, Bashar al, Assad, Yemen’s, Putin, Xi Organizations: CNN, golf’s, Dubai, Saudi Pro League, France, Washington Post, Formula, MBS, Ritz, Saudi, Washington Locations: Saudi Arabia, Saudi, Portuguese, Istanbul, Riyadh, Mecca, Dubai, Moscow, Beijing, Ukraine, Syria, Sudan, Turkey, Syrian, Iran, Asia, Iraq, Afghanistan, Israel, Jeddah

☆ Saudi Arabia's Public Investment Fund just reshaped professional golf with the PGA Tour-LIV merger. That's just the start
▼ + stars: | 2023-06-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The Saudi Public Investment Fund is a government-controlled fund that has $650 billion in assets under management, according to its most recent filing. A state-owned investment fund like the PIF is not unique. Critics of LIV Golf accused the Saudis of backing the new tour as a form of “sportswashing” its reputation. For example it’s not clear exactly how much it invested to start up LIV Golf. CNN has not been able to confirm that report, but what is known is that LIV Golf tournaments have been held on Trump Organization properties.

Persons: petro, LIV Golf, LIV, Yasir Al, Rumayyan, Cristiano Ronaldo, Karim Benzema, ”, Elon Musk, Jared Kushner, Donald Trump’s, Kushner, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, – CNN’s Coy Wire, Jack Bantock, Steve Almasy Organizations: New, New York CNN, Saudi, Saudi Public Investment Fund, Sovereign Wealth Fund, PGA, Soccer, Saudi Aramco, Newcastle United, Saudi Pro League, CNBC, Electronic Arts, EA, Activision Blizzard, Ticketmaster, Carnival Corp, Twitter, Washington Post, CNN, Trump Organization, US State Department, Congress Locations: New York, Europe, Saudi, English, Al, Saudi Arabia, al Qaeda

☆ Karim Benzema signs for Saudi team Al-Ittihad after leaving Real Madrid
▼ + stars: | 2023-06-07 | by ( Matt Foster | ) edition.cnn.com time to read: +2 min

CNN —French striker Karim Benzema has signed with Saudi Arabian team Al-Ittihad on an initial three-year deal, the club announced on Tuesday. Al-Ittihad won the Saudi Pro League (SPL) this season under the stewardship of one-time Tottenham Hotspur manager Nuno Espirito Santo and offered Benzema a deal reportedly worth more than $100 million. It now feels the time is right for a new challenge and project.”Reuniting with RonaldoBenzema also expressed joy at joining a league which already contains his former Real Madrid teammate Cristiano Ronaldo. Karim is a global football icon, he’s box office and very much at the top of his powers.”Benzema joined Real Madrid from Lyon in 2009, aged 21. He won 25 trophies with the club, making 648 appearances and scoring 354 goals – the second most in its history.

Persons: Karim Benzema, Benzema, Nuno Espirito, ” Benzema, “, Ronaldo Benzema, Cristiano Ronaldo, “ Cristiano Ronaldo, ”, Anmar Bin Abdullah Alhailael, Ballon, Karim Organizations: CNN, Saudi Arabian, Real Madrid, Sunday, Ittihad, Saudi Pro League, Tottenham Hotspur, Nuno Espirito Santo, ”, SPL, Saudi, Ittihad Club Locations: Ittihad, Al, Asia, Spain, Europe, Saudi Arabia, Real, Lyon

☆ Saudi champions Al Ittihad sign 'global football icon' Benzema
▼ + stars: | 2023-06-06 | by ( Fernando Kallas | ) www.reuters.com time to read: +3 min

Benzema, who ended a trophy-laden 14 years at Real this week, joins the Saudi Arabian champions on a three-year deal and will wear the number nine shirt. I have been fortunate to achieve amazing things in my career and achieve everything I can in Spain and Europe," Benzema said. I am looking forward to joining my new team mates and, together with them, help take this amazing club and the game in Saudi Arabia to new levels." Al-Ittihad last month clinched the Saudi Pro League title for the first time since 2009. "Benzema's arrival is the most impactful transfer in the club's history to date," Al Ittihad said in a statement.

Persons: Ballon, Karim Benzema, Al, Benzema, Cristiano Ronaldo, Al Nassr, Ronaldo, Didier Deschamps, Mathieu Valbuena, Lionel Messi, Al Ittihad's, Anmar Alhailae, Karim, Osama Khairy, Aziz El Yaakoubi, Mohamed Yossri, Aadi Nair, Rohith Nair, Toby Davis, Ken Ferris Organizations: Al Ittihad, Real, Saudi, Olympique Lyonnais, Juventus, League, Saudi Pro League, SAUDI FOOTBALL, Reuters, Al, Benzema, Thomson Locations: Saudi Arabia, Real Madrid, Saudi Arabian, Spain, Europe, Portugal, France, Qatar, Ittihad, Portuguese, Al Ittihad, Argentina, Hilal

In the physical oil market, where any short-term production cut should have the greatest and most immediate impact, the calendar spreads between nearby months strengthened only slightly. The unilateral Saudi cut, described by the country’s oil minister as a “lollipop”, is for a month, but could be extended. Chartbook: Brent prices and spreadsSTEMMING THE SLIDEThere is evident frustration among OPEC⁺ officials about the continued slide in prices despite three rounds of cuts announced since October 2022. U.S. oil production has continued to rise in a delayed response to last year’s very high prices, which has also kept the market well-supplied. But OPEC⁺ cuts have not (yet) been enough to lift prices and spreads rather than arresting their fall.

Persons: Brent, OPEC ⁺, ”, John Kemp, Barbara Lewis Organizations: OPEC, European Union, Global, OPEC ⁺, Thomson, Reuters Locations: Saudi Arabia, China, Saudi, North America, Europe

☆ Is Karim Benzema about to be the first of many soccer superstars to join Cristiano Ronaldo in Saudi Arabia?
▼ + stars: | 2023-06-05 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +2 min

CNN —French soccer player Karim Benzema has played his last game for Real Madrid and may soon be joining the great Cristiano Ronaldo in Saudi Arabia. Saudi’s state-run Ekhbariya news on Sunday reported that Benzema and the Saudi Al Ittihad club had reached an agreement on a two-season contract. The Frenchman could be the first of many established star names to join Ronaldo in the Saudi Pro League next season. In an interview with the Saudi Pro League, Ronaldo last week said that he was happy in Saudi Arabia and encouraged other players to join him. According to Saudi state-owned media, Ronaldo will earn an estimated $200 million a year, making him the world’s highest-paid soccer player.

Persons: Karim Benzema, Cristiano Ronaldo, Benzema, Fabrizio Romano, “, Al, ”, ” Romano, Ballon, Carlo Ancelotti, ” Benzema, Frenchman, Ronaldo, Al Nassr, Lionel Messi –, –, Karim Djaziri Organizations: CNN, Real Madrid, Saudi Al, Sunday, Twitter, Saudi, Spanish, Ronaldo, Saudi Pro League Locations: French, Saudi Arabia, Saudi, Saudi Al Ittihad, Italian, Al Ittihad, Spain, Al Hilal

☆ Analysis: Saudi Arabia's 'icing on the cake' oil cut could feed US producers
▼ + stars: | 2023-06-05 | by ( Dmitry Zhdannikov | ) www.reuters.com time to read: +5 min

With the new Saudi reduction, the group has agreed to take some 4.6 million bpd off the market in July, equivalent to 4.6% of global demand of 100 million bpd. OPEC+ also agreed on Sunday to extend the group's existing supply cuts of 3.66 million bpd into 2024. In response, oil prices rose nearly $2 a barrel early on Monday to $78 per barrel . "This market needs stabilisation," Saudi Energy Minister Prince Abdulaziz bin Salman said on Sunday, calling his surprise decision to deepen Saudi production cuts "the icing on the cake" for the deal. So far this year, a weakening global economy, concern about the U.S. banking crisis, and a slow Chinese recovery from COVID-19 restrictions have capped oil prices.

Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Natasha Kaneva, Morgan, Tamas Varga, Jorge Leon, Sunday's, JPM, Kaneva, Alex Lawler, Ahmad Ghaddar, el, Dmitry Zhdannikov, Simon Webb, Barbara Lewis Organizations: Saudi Energy, OPEC, White, International Energy Agency, Rystad Energy, United, Thomson Locations: Saudi, Saudi Arabia, OPEC, U.S, Russia, Ukraine, Riyadh, United States, States, COVID, Angola, Nigeria, United Arab Emirates

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