DUBAI: Richard Branson is quitting as chairman of Virgin Hyperloop One after saying the company, that plans to build a supersonic transport system in the UAE and other countries, needs a more actively involved leader, a statement confirmed on Monday.
“At this stage in the company’s evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities,” the statement quoted Branson as saying.
“It will be difficult for me to fulfil that commitment as I already devote significant time to my philanthropic ventures and the many businesses within the Virgin Group.”
Virgin Hyperloop One’s biggest shareholder, Dubai’s DP World, said the company was seeking a new chairman.
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Richard Branson steps down from role as chairman of Virgin Hyperloop
Richard Branson steps down from role as chairman of Virgin Hyperloop
- Branson says the company, that plans to build a supersonic transport system in the United Arab Emirates and other countries, needs a more actively involved leader
- Virgin Hyperloop One’s biggest shareholder, Dubai’s DP World, said the company was seeking a new chairman
No Saudi acquisition offers: FC Barcelona tells Al-Eqtisadiah
CAIRO: FC Barcelona has not received any offers, whether from Saudi Arabia or elsewhere, to acquire the club, according to an official source who spoke to Al-Eqtisadiah.
According to the source, the circulating news regarding the possibility of finalizing a deal to acquire the club in the coming period is a mere rumor.
Recent Spanish reports had indicated the possibility of a Saudi acquisition of Barcelona shares for around €10 billion ($11.7 billion), a move considered capable of saving the club from its financial crises if it were to happen, especially as it suffers from debts estimated at around €2.5 billion.
Sale not in management’s hands
Joan Gaspart, the former president of the club, confirmed that the current board of directors, chaired by Joan Laporta, does not have the right to dispose of the club’s ownership.
He added: “FC Barcelona is owned by about 150,000 members, and selling the club is something the owners will not accept. FC Barcelona possesses something no other club in the world has; money is very important, and so is passion, but the sentiment of the members today is to continue what the club has been for 125 years.”
High market value
Despite the financial crisis the club has been going through in recent years, FC Barcelona ranks sixth on the list of the world’s highest market value clubs, with an estimated value of €1.12 billion, according to Transfermarkt. Meanwhile, its rival Real Madrid tops the list with a market value of €1.38 billion.
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