BARCELONA, Spain: Crippled by debt and fielding a team that were no longer among Europe’s elite, Barcelona’s leadership decided there was only one alternative after watching Real Madrid sweep up the major trophies last season.
They chose to double down and spend, spend, spend.
Barcelona will enter the season with immediate hopes of winning after adding striker Robert Lewandowski, defender Jules Koundé and winger Raphinha to an uneven squad composed of promising youngsters and several unwanted players.
But the three signings for more than a combined 160 million euros ($163 million) — making it Europe’s leading spender of the offseason — have come at an even larger cost that will burden the club for the next quarter century.
With Barcelona about to close last season with a financial loss for the fourth straight year and no money to spend on transfers, club president Joan Laporta took the gamble that the only way to save the team and stave off their seemingly unstoppable slide into mediocrity was to mortgage their future.
After receiving the approval of Barcelona’s club members, Laporta’s board sold off 25 percent of its Spanish league TV rights for the next 25 years for 667 million euros ($679 million). The club quickly used that cash to make its splash in the transfer market.
“It’s true that I would have preferred not to have had to sell a percentage of the TV rights,” Laporta said this week from New York, where Barcelona completed their preseason tour of the United States. “But the situation was complicated and required us to be brave and take decisions, because soccer does not wait for anyone and our fans, who are used to winning, deserve a Barça that can compete.”
The Catalan club’s shopping spree may not be over. They sold a 25 percent stake of their Barça Studios production hub for another 100 million euros ($102 million) on Monday.
The club have pledged a third of that much-needed income to new players, a third to savings, and a third to paying off debt that despite efforts to bring it down still stands at 1 billion euros ($1 billion).
The sacrifice of future revenue comes after Barcelona sold the naming rights of Camp Nou. Europe’s largest soccer stadium will bear the name of audio-streaming service Spotify, as will Barcelona’s shirts at the season opener against Rayo Vallecano on Aug. 13.
Laporta, who inherited a debt-ridden club when he returned to power last year, has also remained a firm backer of Madrid president Florentino Pérez’s scheme to establish a Super League.
But not even the Spotify deal and shedding the salaries of Lionel Messi, Luis Suárez, Philippe Coutinho and Antoine Griezmann for practically nothing in return in recent years proved enough to balance the books.
The mismanagement by previous president Josep Bartomeu, combined with the impact of the COVID-19 pandemic, left the club saddled with a massive debt of more than 1.3 billion euros ($1.3 billion) and the largest payroll in soccer.
Barcelona’s financial difficulties have, predictably, been accompanied by their team’s fall from grace.
Barcelona haven’t won the league title in three seasons, after having won eight of the previous 11. The team haven’t lifted the European Cup since 2015, when it won the Champions League for the fourth time in a decade. They won nothing last season after Messi left for Paris Saint-Germain.
All told, the once mighty Barcelona have become known for their economic mess, scandals involving Bartomeu despite his denials of wrongdoing, their inability to retain Messi, as well as humiliating defeats, including a historic 8-2 loss to Bayern Munich.
For Laporta’s critics, it was fitting that Barcelona announced the sale of their second package of TV rights while the team were training in Las Vegas ahead of its friendly “clásico” against Madrid, which Barcelona won 1-0. For some, like former England player Gary Neville, auctioning off TV rights smacked of going for broke.
“Barcelona still pursuing the Super League? This is why! A desperate club (1.2 billion pounds) in debt selling future revenue streams to spend on players today in the ‘Hope’ it pays off! Rolling the dice stuff this with a giant of a club,” Neville wrote on Twitter.
Laporta argues that he had no choice: The alternative was only more losing, fewer fans and dwindling income.
Pressing home the need for the unprecedented measures in June, Laporta told fellow club members that when he took charge after winning club elections in March 2021 the team was nearly bankrupt.
“We couldn’t meet the payroll. We were clinically dead. We restructured the debt, reduced spending and slashed the player payroll substantially, but it still was not enough,” Laporta said. “By finding new revenues and sponsors we went from being dead to the intensive care unit, and now we can finally get back to living a normal life (after selling the TV rights).”
Still, even in the most favorable analysis, the decision is painful.
“From a financial point of view, it is never good news when you sell assets,” economist Marc Ciria, who in 2015 formed part of an unsuccessful presidential run by Laporta but now has no connection to the executive, told The Associated Press.
“Barcelona have spent (nearly) 125 years acquiring patrimony, and TV rights are one of the few assets that is guaranteed to increase in value. But it is also clear that Barcelona, for its status, cannot afford to have another season like the last one.”
Ciria calculates that, not even including inflation, Barcelona have sacrificed at least 1 billion euros ($1 billion), starting with 41 million euros ($42 million) this season, in future TV revenues in exchange of 670 million euros ($684 million) now.
But, for Ciria, the greatest threat to the sustainability of Barcelona is the bloated player salaries. He calculates that just to break even this season the club would need to reduce its salary load to 450 million euros ($457 million). It stood at 518 million euros ($526 million) before the latest signings, which also include free agents Franck Kessie and Andreas Christensen.
Barcelona is also under pressure to reduce their salary load so it can meet the Spanish league’s financial rules and be able to register their new players so they can play games.
Dani Alves, Adama Traoré and Luuk de Jong have all left after finishing their deals, but of its players under contract it has an agreement to transfer Óscar Mingueza to Celta Vigo and has loaned out Clement Lenglet and Francisco Trincão.
Barcelona want Frenkie de Jong to accept a transfer to Manchester United or take a pay cut. Martin Braithwaite, Samuel Umtiti, and Riqui Puig were all left off Barcelona’s squad for the trip to the United States and the club want them gone.
Last season, Barcelona flopped out of the Champions League’s group phase for the first time in two decades. They finished a distant second in Spain to Madrid, which also won the European Cup to only increase the frustration of Barcelona supporters.
The additions of a world-class scorer in Lewandowski, a top young center back in Koundé and the flare of Raphinha should provide coach Xavi Hernández with what he needs to improve a squad featuring Spain midfielders Pedri González (19 years old) and Gavi Páez (17).
But one year after Messi’s wife handed him a tissue as he wept while saying farewell to the club he helped make great, Barcelona are at a crossroads where it appears the only two ways forward are renewal or decline.
Barcelona mortgages its future on quick resurrection
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Barcelona mortgages its future on quick resurrection
- Laporta's board sold off 25% of their Spanish league TV rights for the next 25 years for $679 million
- They sold a 25% stake of their Barça Studios production hub for another $102 million on Monday
Al-Ittihad Club victorious at 2024 West Region Hockey Championship
- Al-Ittihad clinched the title at the covered sports hall at Al-Ittihad Club in Jeddah, relegating beaten finalists Sakhi to the silver medals
- The United Thalasserry Sports Club team secured third position in the competition
RIYADH: Al-Ittihad Club picked up the gold medals at the 2024 Saudi Arabia West Region Championship Cup, the Saudi Hockey Federation said on Sunday.
Federation CEO Abdulilah Al-Maimoun presented the cup and gold medals to Al-Ittihad after their victory in the championship, which took place on May 17 and 18.
Al-Ittihad clinched the title at the covered sports hall at Al-Ittihad Club in Jeddah, relegating beaten finalists Sakhi to the silver medals. The United Thalasserry Sports Club team secured third position in the competition.
Individual prizes were also handed out during the championship ceremony. Ahmed Al-Jundi, a standout player from Al-Ittihad team, landed the best player award, while Jeddah Future players Karim Ashraf, best goalkeeper, and Talam Wissam, best young player, were also honored.
The championship was decided by a series of 12 matches, featuring 60 players representing six teams.
Al-Maimoun said the 2024 Saudi Arabia Western Region Championship had achieved the goals the federation aspires to. He indicated that through these competitions, the federation aims to promote field hockey and attract interest in it.
The CEO confirmed the federation’s keenness to continue organizing such championships as a means to promote the game in other cities in the Kingdom.
Usyk beats Fury in Riyadh showdown to become undisputed heavyweight champion
- Joins likes of Muhammad Ali, Joe Louis and Mike Tyson as undisputed heavyweight champion
- Britain's Fury says he believes he won fight but lost in scoring, looks forward to a rematch
RIYADH: Oleksandr Usyk beat Tyson Fury by split decision to win the world’s first undisputed heavyweight championship in 25 years on Sunday, an unprecedented feat in boxing’s four-belt era.
Britain’s Fury was the early aggressor but Usyk gradually took charge and the “Gypsy King” was saved by the bell in the ninth round before slumping to his first career defeat.
Ukraine’s Usyk joins the likes of Muhammad Ali, Joe Louis and Mike Tyson as undisputed heavyweight champion, the first since boxing recognized four major belts in the 2000s.
Britain’s Lennox Lewis was the last man to unify the heavyweight belts — three at the time — after beating Evander Holyfield in 1999.
With the win, the still-undefeated former undisputed cruiserweight champion can legitimately claim to be the best of this era, although a rematch expected in October could provide another twist.
“It is a big opportunity for me, for my family, for my country,” said Usyk, 37, who briefly served as a soldier after the Russian invasion.
“It’s a great time, a great day,” he said, adding that he was “ready for a rematch.”
Fury called it a “fantastic fight with Oleksandr.”
“I believe I won that fight, I believe he won a few of the rounds, but I won the majority of them,” he said.
“You know his country is at war, so people are siding with the country at war but make no mistake, I won that fight in my opinion and I will be back.”
Two judges scored it for Usyk by scores of 115-112 and 114-113 while the third gave it to Fury 114-113. The victory extended Usyk’s professional record to 22-0. After his first loss, Fury stands at 34-1-1.
Usyk, who adds Fury’s WBC belt to his IBF, WBA and WBO titles, looks set to go down as one of the greats after dominating at amateur, cruiserweight and now the top division.
A fired-up Fury came running out of his corner to start the fight and the 6ft 9ins man (2.06m) man was quickly into his rhythm, keeping the shorter Usyk back with his jab and playing to the crowd.
Usyk got inside with some quick combinations while Fury landed some heavy body shots. By round four, the Mancunian was taunting his ever-advancing opponent and showboating, guard down.
Usyk called two low shots in round five and got caught with a left hook as Fury continued to look comfortable, landing a telling uppercut in the following round and bobbing and weaving to stay out of range.
But the Ukrainian tagged Fury with two clean lefts in the seventh and landed a punishing hook that dazed the “Gypsy King” in the eighth.
By the next round, a relentless Usyk barrage had Fury in serious trouble and the wobbling, bleeding Mancunian took a standing count before being saved by the bell.
Fury recovered his poise and with the match in the balance heading into the final round, both fighters were finding the target.
Usyk's promoter Alex Krassyuk believed that the Ukrainian was denied a knock-out victory when the referee stepped in as Fury looked about to hit the deck in round nine.
“I believe the referee saved Tyson from a knock-out and stole the ninth-round knock-out, which should have happened,” Krassyuk said.
Wladimir Klitschko was among the legends watching along with Saudi-based football stars Cristiano Ronaldo and Neymar, who like boxing are grateful beneficiaries of Saudi Arabia's lavish push into sports.
Riyadh’s newly built, 22,000-capacity Kingdom Arena was packed when Usyk strode out for his ringwalk at 1:30 am (2230 GMT) wearing a green cossack coat and fur hat.
Fury followed, dancing to Barry White and Bonny Tyler’s “Holding out for a Hero” in a green sleeveless jacket and back-to-front baseball cap.
It set the stage for a clash of two fighters with impeccable pedigrees and very different approaches to the sport.
Fury has had a rollercoaster career, with lows including a two-year, backdated drug ban and struggles with alcohol, cocaine and depression.
Fury had shed 15lb from his last outing when, sluggish and out of shape, he was knocked down by ex-MMA fighter Francis Ngannou en route to a split decision in October.
Usyk, by contrast, has been the model of consistency with a career that was always on the rise.
The 37-year-old from Simferopol in Crimea put together an outstanding amateur record, winning European and world titles and Olympic gold in 2012.
After turning pro, he unified the cruiserweight belts in 15 fights before moving up to heavyweight, where he took three belts from Anthony Joshua in 2021 and won their rematch the following year.
Usyk in tears for late father after historic heavyweight win
- Promoter Alex Krassyuk believed that Usyk was denied a knock-out victory when the referee stepped in as Fury looked about to hit the deck in round nine
RIYADH: An emotional Oleksandr Usyk shed tears for his late father after crowning a brilliant career by becoming boxing’s first four-belt undisputed heavyweight world champion on Sunday.
The 37-year-old Ukrainian won a split decision against Britain’s Tyson Fury in Riyadh in the first heavyweight unification fight since 1999.
The former European and world amateur champion, Olympic gold medallist and undisputed cruiserweight champ — still undefeated as a professional — now adds the ultimate boxing crown.
Afterwards Usyk, who needed four stitches to a cut above his right eye, and who was headed to hospital for a scan of his jaw, remembered his father, who died shortly after his Olympic victory in 2012.
“I miss my father,” he said, wiping his tears with his T-shirt. “I know he’s here.”
Usyk has missed children’s birthdays and even the birth of his daughter during his eight-month camp for the Fury fight, originally scheduled for February before the Briton suffered a cut in training.
His promoter Alex Krassyuk believed that Usyk was denied a knock-out victory when the referee stepped in as Fury looked about to hit the deck in round nine.
“I believe the referee saved Tyson from a knock-out and stole the ninth-round knock-out, which should have happened,” Krassyuk said.
But Usyk said: “No knock-out, no problem.”
“I don’t think about it because we had a win.”
Usyk beats Fury in Riyadh ‘Ring Of Fire’ showdown to become undisputed world heavyweight boxing champion
- Joins the likes of Muhammad Ali, Joe Louis and Mike Tyson as undisputed heavyweight champion
- Oleksandr Usyk: ‘It is a big opportunity for me, for my family, for my country’
RIYADH: Ukrainian boxer Oleksandr Usyk scored a dramatic split decision win against Tyson Fury to become the first undisputed world heavyweight champion in 25 years, an unprecendented feat in boxing’s four-belt era.
In unifying WBA, WBO, WBC and IBF world titles under his belt, joined the likes of Muhammad Ali, Joe Louis and Mike Tyson as undisputed heavyweight champion, the first since boxing recognized four major belts in the 2000s.
Britain’s Lennox Lewis was the last man to unify the heavyweight belts — three at the time — after beating Evander Holyfield in 1999.
Riyadh’s newly built Kingdom Arena played host to the boxing event, dubbed ‘Ring of Fire’, with a sellout crowd including several sports and entertainment figures in attendance at the 22,000-capacity venue. Wladimir Klitschko was among the legends watching along with Saudi-based football stars Cristiano Ronaldo and Neymar, who like boxing are grateful beneficiaries of Saudi Arabia’s lavish push into sports.
Prince Abdulaziz bin Turki Al-Faisal, the Minister of Sports, and Turki bin Abdulmohsen Alalshikh, Chairman of the General Entertainment Authority, were also in attendance.
“It is a big opportunity for me, for my family, for my country,” said Usyk, 37, who briefly served as a soldier after the Russian invasion.
“It’s a great time, a great day,” he said, adding that he was “ready for a rematch.”
Fury called it a “fantastic fight with Oleksandr.”
“I believe I won that fight, I believe he won a few of the rounds, but I won the majority of them,” he said.
“You know his country is at war, so people are siding with the country at war but make no mistake, I won that fight in my opinion and I will be back.”
Caution was evident from the boxers as they exchanged punches in the earlier rounds. As they entered the third round, Tyson Fury attempted to land more hits, countered by Oleksandr Usyk’s clear dodging and significant intervention by the referee to break up an illegal clinch.
Usyk got inside with some quick combinations while Fury landed some heavy body shots. By round four, the Mancunian was taunting his ever-advancing opponent and showboating, guard down.
Usyk called two low shots in round five and got caught with a left hook as Fury continued to look comfortable, landing a telling uppercut in the following round and bobbing and weaving to stay out of range.
The cautious rhythm continued, with Fury having a clear advantage until the eighth round, when Usyk launched a strong attack from the start, buoyed by the supportive cheers from the crowd.
A Usyk barrage had Fury in serious trouble and the wobbling, bleeding Mancunian took a standing count before being saved by the bell.
Usyk maintained this strength until the 11th round, nearly securing the win in the 10th round when Fury fell, prompting the referee to count before Fury got back up to continue the fight. The final round saw early attempts to secure a win, but the decision of the three judges favored Oleksandr Usyk, with split decision.
Usyk’s promoter Alex Krassyuk believed that the Ukrainian was denied a knock-out victory when the referee stepped in as Fury looked about to hit the deck in round nine.
“I believe the referee saved Tyson from a knock-out and stole the ninth-round knock-out, which should have happened,” Krassyuk said.
Two judges scored it for Usyk by scores of 115-112 and 114-113 while the third gave it to Fury 114-113. The victory extended Usyk’s professional record to 22-0. After his first loss, Fury stands at 34-1-1.
In the undercard fights, Swedish cruiserweight boxer Robin Siroan Safar kept his unbeaten record by beating former world light heavyweight champion Sergey Kovalev from Russia
Meanwhile, Ukrainian champion Daniel Lapin secured a victory over boxer Octavio Bodeter, and New Zealand boxer David Nyika convincingly defeated German Michael Seitz to keep his record unblemished as well.
British boxer Isaac Low won the international featherweight belt by defeating Afghan boxer Haseebullah Ahmadi, while British heavyweight Musa Aitoma triumphed over German Anna Amiezensev. German boxer Agit Kabayel also managed to break the winning streak of Cuban Frank Sanchez.
In the lightweight division, British boxer Mark Chamberlain won the World Boxing Council title by defeating Nigerian Joshua wahab.
In the IBF and IBO featherweight championship, British boxer Joe Cordina triumphed over his compatriot Anthony Cacace.
Australian boxer Jay Opetaia reclaimed his IBF cruiserweight world title after defeating Latvian Mairis Briedis in a 12-round match, with the decision going in his favor by the judges.
– with AFP
Swiatek demolishes Sabalenka to win third Rome title
- She became the first woman since Serena Williams in 2013 to win at Madrid and Rome in the same season
- She will next defend her French Open crown later this month
ROME: Iga Swiatek won the Rome Open on Saturday after sweeping aside Aryna Sabalenka 6-2, 6-3 in the final to claim her third Foro Italico title.
World number one Swiatek comfortably prevailed against second-ranked Sabalenka in the last major tournament before she defends her French Open crown.
In front of a packed center court crowd Swiatek won her 12th successive match on clay and became the first woman since Serena Williams in 2013 to win at Madrid and Rome in the same season.
Swiatek will be red-hot favorite to win her fourth title, and third in a row, at Roland Garros which starts later this month after besting Belarusian Sabalenka as she did at the recent Madrid final.
“Another final, another great battle. After Madrid I knew it wasn’t going to be easy, it can always go both ways,” said Swiatek on court.
“We’ll see about that Roland Garros final!“
The Pole took her winning record over Sabalenka to 8-3 in another hugely impressive display from what has been an almost flawless tournament from the four-time Grand Slam champion, who didn’t drop a single set on her way to another championship victory.
Saturday’s match was less dramatic than Madrid’s three-set thriller as Sabalenka, who has won the two most recent Australian Opens, gave herself too much to do.
Swiatek took the opening set in just 36 minutes in a clinical display of tennis against Sabalenka, who has said repeatedly that Rome is her dream tournament to win.
Going into Saturday’s final Swiatek had won 97 percent of her matches in which she went one set ahead since the start of 2022 and Sabalenka didn’t help her cause by wasting seven break points over two games in the second set.
After Swiatek broke Sabalenka’s serve in game seven it was only a matter of time before she closed out the match and championship.
“I would say the first set I didn’t play well at all. I wasn’t, I don’t know, feeling my game well,” Sabalenka told reporters.
“In the second set I just tried to stay a little bit more aggressive... I just tried to put her a little bit under pressure.
“I had couple of opportunities to break her serve. Probably if I would take that opportunity, the match would go differently. I didn’t use it, so it is how it is.”
On Sunday Alexander Zverev bids to win his second Rome title when he faces Nicolas Jarry in the men’s final.
Zverev is in his 11th Masters final, equalling Boris Becker’s record for the most by a German since the series began in 1990.
