World
Premier League Season Opens With 45% of Teams Owned by Americans
Manchester United and Fulham kicked off the 2024-25 Premier League season on Friday, and United won 1-0 at Old Trafford on a late goal by Joshua Zirkzee.
In a bit of scheduling coincidence, the owners of the two clubs will square off again Saturday on the other kind of football field, as the Glazer family’s Tampa Bay Buccaneers visit the Jacksonville Jaguars, owned by Shahid Khan, in an NFL preseason game.
The Glazers and Khan are among nine American ownership groups of Premier League teams, which will have a full slate of games this weekend. The list includes newly promoted Ipswich Town, which is owned by American financial firms ORG, Bright Path Sports Partners and Avenue Sports. They are all chasing Manchester City, which has finished atop the EPL standings for four straight years.
The second division Championship also has nine teams controlled by Americans after Mark Attanasio recently increased his stake in Norwich City through his Norfolk Holdings, which first took a stake in the team in 2022 and will now own 85%.
Americans have invested heavily in English football teams over the past two decades, starting with Malcolm Glazer’s leveraged buyout in 2005 that valued Man United at £790 million ($1.4 billion at the time). Stan Kroenke started buying shares of Arsenal in 2007 and took full control in 2011 at a $1.2 billion valuation.
Man United ranked on top of Sportico’s global soccer team valuations at $6.2 billion, while Arsenal was eighth at $3.91 billion.
In 2010, John Henry’s Fenway Sports Group bought Liverpool for £300 million ($476 million at the time). FSG built a strong performer on and off the field, including three Champions League finals appearances in five years. The value is up more than tenfold to $5.11 billion and fourth overall.
Attanasio also owns MLB’s Milwaukee Brewers and follows a string of U.S. sports team owners to invest in the UK. They are attracted by the global reach of the clubs, but most of them want to see more restrictions on player spending, akin to the major leagues in North America. The lack of salary caps can trigger massive losses as teams spend in a fight to avoid relegation or gain promotion to the Premier League. At the top of the financial table, teams compete for a Champions League spot and to field the best squads to advance in European tournaments.
Only five English Premier League teams out of 20 made money after player trading during the 2022-23 season. The aggregate loss before taxes and finance costs was £530 million ($684 million based on current exchange rates), according to company filings. The NFL’s pre-tax profit: $4.6 billion.
Khan’s team investments offer a window into the economic structure of different sports leagues. In 2011, he spent $770 million to buy the Jaguars. The club turns a hefty profit each season that can top $100 million in a good year, and the Jags are now worth nearly $5 billion.
Two years after buying Jacksonville, Khan bought EPL club Fulham for more than $200 million. Fulham was relegated to the Championship the following season, where it has spent six of 11 seasons under Khan. He has piled up $500 million in operating losses in the London club, and the team is likely worth one-tenth of the Jaguars.
The lousy economic model that exists across European soccer explains why Manchester United and Real Madrid are the only soccer teams to crack the top 30 among the world’s most valuable sports franchises, which skews heavily toward the NFL with its strict salary cap and $400 million-a-year TV checks, along with a few NBA and MLB teams mixed in.
Americans can’t kick their UK soccer habit, though. Brit Steve Parish runs Crystal Palace, but American John Textor owns the largest stake at 45%, and private equity titans Josh Harris and David Blitzer each own 18%.
Textor wants his own UK club to control and has entered exclusive talks to buy Everton from Farhad Moshiri after a pair of failed attempts to buy the club by American firms 777 and Friedkin Group. Everton lost $107 million during the 2022-23 season, its sixth straight year of losses that totaled $623 million, based on current exchange rates. The club escaped relegation on the last day of the 2022-23 season and finished 15th last year. Yet still, there’s a Yank who wants to purchase it.
World
Saudi executions rose sharply in 2024
World
Israel launches strikes in Yemen on Houthi military targets, IDF says
The Israeli military claimed responsibility for a series of airstrikes in Yemen on Thursday that hit Sana’a International Airport and other targets in the Houthi-controlled capital.
The Israel Defense Forces said the strikes targeted military infrastructure used by the Houthis to conduct acts of terrorism.
“The Houthi terrorist regime has repeatedly attacked the State of Israel and its citizens, including in UAV and surface-to-surface missile attacks on Israeli territory,” the IDF said in a statement.
“The targets that were struck by the IDF include military infrastructure used by the Houthi terrorist regime for its military activities in both the Sana’a International Airport and the Hezyaz and Ras Kanatib power stations. In addition, the IDF struck military infrastructure in the Al-Hudaydah, Salif, and Ras Kanatib ports on the western coast.”
PROJECTILE FROM YEMEN STRIKES NEAR TEL AVIV, INJURING MORE THAN A DOZEN: OFFICIALS
The strikes come days after Israel’s defense minister promised retaliation against Houthi leaders for missile strikes launched at Israel from Yemen.
Houthi rebels, who control most of northern Yemen, have fired upon Israel for more than a year to support Hamas terrorists at war with the Jewish State. The Houthis have attempted to enforce an embargo on Israel by launching missiles and drones at cargo vessels crossing the Red Sea – a major shipping lane for international trade.
US NAVY SHIPS REPEL ATTACK FROM HOUTHIS IN GULF OF ADEN
Overall, the Houthis have launched over 200 missiles and 170 drones at Israel since Hamas’s Oct. 7, 2023, massacre of 1,200 people. Since then, the Houthis have also attacked more than six dozen commercial vessels – particularly in the Bab-el-Mandeb, the southern maritime gateway to Egypt’s Suez Canal.
On Saturday, a projectile launched into Israel from Yemen struck Tel Aviv and caused mild injuries to 16 people, Israeli officials said. The incident was a rare occasion where Israeli defense systems failed to intercept an attack.
NETANYAHU WARNS HOUTHIS AMID CALLS FOR ISREAL TO WIPE OUT TERROR LEADERSHIP AS IT DID WITH NASRALLAH, SINWAR
Israel retaliated by striking multiple targets in areas of Yemen under Houthi control, including power plants in Sana’a.
Israeli leaders have vowed to eliminate Houthi leadership if the missile and drone attacks do not cease.
On Monday, Israeli Defense Minister Israel Katz said, “We will strike their strategic infrastructure and decapitate their leaders. Just as we did to [former Hamas chief Ismail] Haniyeh, Sinwar and Nasrallah, in Tehran, Gaza and Lebanon – we will do in Hodeidah and Sanaa.”
Prime Minister Benjamin Netanyahu has also urged Israelis to be “patient” and suggested that soon the military will ramp up its campaign against the Houthis.
“We will take forceful, determined and sophisticated action. Even if it takes time, the result will be the same,” he said. “Just as we have acted forcefully against the terror arms of Iran’s axis of evil, so too will we act against the Houthis.”
Fox News Digital’s Amelie Botbol contributed to this report.
World
Retraction of US-backed Gaza famine report draws anger, scrutiny
United States President Joe Biden’s administration is facing criticism after a US-backed report on famine in the Gaza Strip was retracted this week, drawing accusations of political interference and pro-Israel bias.
The report by the Famine Early Warning Systems Network (FEWS NET), which provides information about global food insecurity, had warned that a “famine scenario” was unfolding in northern Gaza during Israel’s war on the territory.
A note on the FEWS NET website, viewed by Al Jazeera on Thursday, said the group’s “December 23 Alert is under further review and is expected to be re-released with updated data and analysis in January”.
The Associated Press news agency, quoting unnamed American officials, said the US asked for the report to be retracted. FEWS NET is funded by the US Agency for International Development (USAID).
USAID did not immediately respond to Al Jazeera’s request for comment on Thursday afternoon.
Israel’s war in Gaza has killed more than 45,300 Palestinians since early October 2023 and plunged the coastal enclave into a dire humanitarian crisis as access to food, water, medicine and other supplies is severely curtailed.
An Israeli military offensive in the northern part of the territory has drawn particular concern in recent months with experts warning in November of a “strong likelihood” that famine was imminent in the area.
“Starvation, malnutrition, and excess mortality due to malnutrition and disease, are rapidly increasing” in northern Gaza, the Integrated Food Security Phase Classification said in an alert on November 8.
“Famine thresholds may have already been crossed or else will be in the near future,” it said.
The report
The FEWS NET report dated December 23 noted that Israel has maintained a “near-total blockade of humanitarian and commercial food supplies to besieged areas” of northern Gaza for nearly 80 days.
That includes the Jabalia, Beit Lahiya and Beit Hanoon areas, where rights groups have estimated thousands of Palestinians are trapped.
“Based on the collapse of the food system and worsening access to water, sanitation, and health services in these areas … it is highly likely that the food consumption and acute malnutrition thresholds for Famine (IPC Phase 5) have now been surpassed in North Gaza Governorate,” the FEWS NET report had said.
The network added that without a change to Israeli policy on food supplies entering the area, it expected that two to 15 people would die per day from January to March at least, which would surpass the “famine threshold”.
The report had spurred public criticism from the US ambassador to Israel, Jack Lew, who in a statement on Tuesday said FEWS NET had relied on “outdated and inaccurate” data.
Lew disputed the number of civilians believed to be living in northern Gaza, saying the civilian population was “in the range of 7,000-15,000, not 65,000-75,000 which is the basis of this report”.
“At a time when inaccurate information is causing confusion and accusations, it is irresponsible to issue a report like this,” he said.
— Ambassador Jack Lew (@USAmbIsrael) December 24, 2024
‘Bullying’
But Palestinian rights advocates condemned the ambassador’s remarks. Some accused Lew of appearing to welcome the forced displacement of Palestinians in Gaza.
“To reject a report on starvation in northern Gaza by appearing to boast about the fact that it has been successfully ethnically cleansed of its native population is just the latest example of Biden administration officials supporting, enabling and excusing Israel’s clear and open campaign of genocide in Gaza,” the Council on American-Islamic Relations said in a statement.
The group urged FEWS NET “not to submit to the bullying of genocide supporters”.
Huwaida Arraf, a prominent Palestinian American human rights lawyer, also criticised Lew for “relying on Israeli sources instead of your own experts”.
“Do you work for Israel or the American people, the overwhelming majority of whom disapprove of US support for this genocide?” she wrote on X.
Polls over the past year have shown a high percentage of Americans are opposed to Israel’s offensive in Gaza and want an end to the war.
A March survey by Gallup found that 55 percent of people in the US disapproved of Israel’s actions in Gaza while a more recent poll by the Pew Research Center, released in October, suggested about three in 10 Americans believed Israel’s military offensive is “going too far”.
While the Biden administration has said it is pushing for a ceasefire in Gaza, it has rebuffed calls to condition US assistance to Israel as a way to bring the war to an end.
Washington gives its ally at least $3.8bn in military assistance annually, and researchers at Brown University recently estimated that the Biden administration provided an additional $17.9bn to Israel since the start of the Gaza war.
The US is required under its own laws to suspend military assistance to a country if that country restricts the delivery of American-backed humanitarian aid, but Biden’s administration has so far refused to apply that rule to Israel.
“We, at this time, have not made an assessment that the Israelis are in violation of US law,” Department of State spokesperson Vedant Patel told reporters in November despite the reports of “imminent” famine in northern Gaza.
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