Sport

Man United Fined €300,000 For Breaching Financial Fair Play Rules

Published

2 months ago

July 14, 2023

Manchester United have expressed their disappointment after being fined €300,000 (£257k) by UEFA for breaching FFP rules.

United bosses have been punished for minor ‘break even’ deficits during the Covid-19 pandemic. The club insist the fine will not affect the transfer budget made available to manager Erik ten Hag.

A club statement said: “While disappointed by the outcome, Manchester United accepts this fine for what UEFA acknowledges to be a minor technical breach of its previous Financial Fair Play rules.

“This reflected a change in the way that UEFA adjusted for COVID-19 losses during the 2022 reporting period, which allowed us to recognise only €15m (£13m) of the €281m (£241m) of revenues lost due to the pandemic within the FFP calculation.

“Post pandemic, the clubs’ revenues have recovered strongly and are forecast to reach a record level in the current financial year.

“The club continues to support the enforcement of rules to promote financial fair play and sustainability across domestic and European football.”

United sustained €47m (£40m) of Covid losses in 2022, on top of €234m (£200m) of pandemic-related losses between 2019 and 2021.

It was the most suffered by any club in the Premier League. And the minor breaches occurred when United bosses failed to recognise an unforeseen change in the way UEFA treated Covid losses.

United hoped UEFA would be more flexible and accept the club’s oversight, but European football’s governing body have decided to fine them instead.

Meanwhile, the Red Devils have issued a response to a viral video of Mason Mount being hounded to sign shirts outside his hotel. Mount claimed to have been targeted by autograph hunters for three straight days as he was he filmed returning to his temporary residence.

Sport

16th INAC: Indian instructor educates Nigerians on benefits of Yoga

Published

2 weeks ago

September 8, 2023

Desmond Ukafor

The Indian High Commission in Nigeria on Friday in Abuja urged Nigerians to embrace Yoga as a means of exercise for their overall well-being..

Diptiranjan Mohanty, Teacher of Indian Culture, High Commission of India in Abuja, gave the advice during the 16th International Arts and Craft Expo (INAC).

Mohanty, who demonstrated the exercise , said that Yoga is an aspect of Indian culture known to reduce stress, anxiety as well as improve brain function.
He said that practicing Yoga also improves cardiovascular function, quality of sleep, bone health and reduces inflammation.

“Yoga is part of our culture, we want our Nigerian friends and people across the globe to practise it as a lifestyle.
“It improves body flexibility and balance.

“Yoga is known to harmonise the mind, body and soul, and it is a method to detoxify theo body and make a healthy mind and a happy soul,” he said.

Mohanty said that Nigerians who were interested in learning how to practice yoga could attend free classes for the execise at the Indian High Commission in Abuja.

According to him, this is held Monday to Friday, from 4.00p.m. to 7.00p.
He said that India was at the expo to showcase its arts and crafts like Saree fabric, Masala Chai (indian tea), locally prepared to reduce high blood pressure and cholesterol.

In the course of the expo, delegates from Taraba, Kaduna, Borno, Katsina, Ogun and Rivers states presented colourful dance performances.

Ogun and Rivers as well as Cuba presented cuisines peculiar to their culture, which delegates from other nations savoured.

Sport

UEFA to raise payments for clubs not in European competition

Published

3 weeks ago

September 7, 2023

Fellow Press

Clubs that fail to qualify for UEFA’s competitions are set to receive a greater share of revenue from the European governing body from next season.
The arrangement is under a new distribution model announced on Wednesday by UEFA.
UEFA and the European Club Association (ECA) signed a renewed working agreement until 2030 which will “bolster long-term stability and sustainable growth in European club football,” the governing body said in a statement.

The change will be effective from the start of the 2024-25 season, coinciding with a new format in UEFA’s Champions League, Europa League and Europa Conference League.

Under the new model for the 2024-2027 cycle, seven per cent of the revenue UEFA earns from the three competitions will be distributed to clubs not competing in them, up from four per cent.

The European Leagues Association, which represents professional soccer leagues in Europe, said the change would result in 308 million euros ($330.02 million) being shared among non-participating clubs, up from the current 175 million euros.

“Today’s announcement … will help all clubs across Europe to safeguard their competitiveness on and off the pitch while keeping investing in youth and talent development,” it said in a statement.

UEFA said further details of the new system would be unveiled at a later date.