|Bid||16.25 x 900|
|Ask||17.00 x 1200|
|Day's range||16.17 - 16.46|
|52-week range||12.06 - 20.20|
|Beta (5Y monthly)||0.88|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.18 (1.09%)|
|Ex-dividend date||27 Nov 2020|
|1y target est||N/A|
(Bloomberg) -- Top European soccer teams are moving closer to deciding the lineup for a proposed “super league” that could end the UEFA Champions League’s run as the premier event in the sport, people with knowledge of the matter said.Organizers are working to finalize a list of at least a dozen permanent members after offering spots to clubs including Paris Saint-Germain and Barcelona, the people said. They hope to publicly announce their plans in the next few months, one of the people said, asking not to be identified because the information is private.Bayern Munich, Juventus, Liverpool, Manchester United and Real Madrid are also being discussed as potential permanent members, the people said. JPMorgan Chase & Co. is in talks to provide financing for the project based on the expectation of future television contracts, according to the people.Proponents argue the super league would create a more exciting season where the continent’s top teams play each other more often. It would also be lucrative for the most well-known clubs. Having permanent membership would remove the uncertainty they face in the UEFA Champions League, where teams must qualify annually and risk losing broadcasting revenues and sponsorship income if they miss out.Some of those approached remain undecided on whether to join the effort, and the timeline for a public announcement could still be pushed back, the people said. Any club that participates would remain in its domestic league but pull out of the UEFA Champions League, which is in the midst of its own restructuring.Domestic CompetitionsThe super league plan envisages teams competing in domestic matches on weekends and playing intercontinental games during the week, one of the people said. Organizers have discussed several potential formats, including one that would have have additional spots for clubs that qualify season-by-season based on performance, the people said.Plans for the competition are still being drafted, and its membership could change, the people said. Representatives for Barcelona, Bayern Munich, Juventus, Liverpool, Manchester United, Real Madrid and JPMorgan declined to comment. Spokespeople for Bayern Munich and Paris Saint-Germain didn’t respond to requests for comment.Manchester United’s executive vice chairman, Ed Woodward, told fans in late November that the English club was “at the center of discussions about the future of European club competitions.” He said that most of his time was spent focusing on strengthening existing UEFA competitions.The English Premier League has publicly spoken out against reforms that would impact the competitiveness of its domestic competition. Javier Tebas, president of Spain’s La Liga, said in December plans for a super league are “unfeasible” and haven’t attracted support of the most important teams.Real Madrid President Florentino Perez has come out in support of fresh ideas, saying last month that European soccer needs new formulas to keep it compelling. The coronavirus pandemic means the sport needs to work harder to maintain its competitiveness.“Football’s reform cannot wait,” Perez said. “The big teams have millions of fans around the world and have the responsibility to fight for this change.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The pandemic has played havoc with the sporting calendar, forcing the suspension of English Premier League fixtures for three months, with fans still unable to attend matches. United has failed to win at home in the league this season and had urged the government last month to allow fans back into stadiums, adding it can safely host 23,500 fans at Old Trafford while maintaining social distancing. Manchester United's Executive Vice Chairman Ed Woodward said on Thursday the health crisis continued to cause "significant disruption", but was optimistic that a recovery phase was gradually coming into view.
(Bloomberg Opinion) -- In “The Godfather,” the book that inspired a generation of corporate boardroom warriors, Michael Corleone dismisses his trusted friend Tom Hagen as an adviser to his mafia family. “Mike, why am I out?” the mystified Hagen asks. “You’re not a wartime consigliere,” Corleone responds.U.K. Prime Minister Boris Johnson has the opposite problem. In Dominic Cummings, his chief of staff, he has the ideal “wartime” strategist for elections and campaigns. But what he needs now is a peacetime consigliere who understands how to be a conciliator — or at least someone who can speak softly while carrying a big stick. To achieve that balance, however, Johnson himself needs to understand what is at stake. The corona pandemic is undermining confidence in his ability to lead.Johnson rejected the Labour opposition's demands for a two week "circuit-breaker" over school half-term only a fortnight ago. Now he is imposing a full lockdown across England from Thursday. Libertarian MPs in his party are seething at the volte face. Opinion polls show confidence in his government's ability to handle the crisis tumbling. This is the second time he has resisted a lockdown only to later cave to his medical advisers. A YouGov poll last week reported that only 4% of voters think the prime minister has done a good job managing the pandemic.The electorate knows that there are no easy fixes to this crisis. But they expect a prime minister to communicate an understanding of their misfortunes. Downing Street is at last beginning to grasp the scale of the problem. This weekend Johnson made his first joint appearance on television with his partner Carrie Symonds during the Pride of Britain awards to praise health service staff for their courage and dedication.The Conservatives were once known as “the nasty party” — the best you could say of them was that they were flinty-eyed stewards of the economy who believed in rugged individualism and freedom. For the last two decades, their leaders have been trying to prove they also have a heart.Alas, in the space of two weeks Johnson has emerged from two political rows looking needlessly nasty. He seems to have a tin ear when it comes to combining strength with empathy. And whether in politics or corporate culture, empathy is the game in town.Some recent snapshots illustrate the deficit. The prime minister’s negotiations with Andy Burnham, the Labour mayor of Greater Manchester council, to impose tighter coronavirus restrictions foundered in haggling over monetary compensation for the city. The government then imposed its will with scant explanation and a dismissive line from Johnson. The offhand manner rankled a lot more than the paltry 5 million pound sum which separated the two sides. And yes, Manchester’s mayor was guilty of “virtue signaling,” but in politics that is often better than signaling the opposite. Johnson was tagged an uncaring southerner happy to lock down northern folk from a distance.As if to underline his empathy deficit, the subject of under-privileged school pupils put Johnson on the spot again. Marcus Rashford, a 22-year-old England and Manchester United soccer player and admired role model for young men of color, won a campaign four months ago to give England’s most deprived children free school meals during the summer vacation. The government first opposed the idea then caved in.But when Rashford asked for the same benefit to be extended to 1.3 million children during the half-term and winter holidays, the government balked. Sixty million pounds was the disputed sum. Given the billions already spent to prop up the economy, it was a drop in the ocean.The prime minister has also made little effort to appeal to Scottish voters toying with the notion of a second independence referendum. Wavering Unionists are not amenable to his bombastic style nor his scaremongering. A JL Partners opinion poll on Friday revealed that dislike of Johnson is the deciding factor driving Scots toward independence.Public opinion has shifted further toward state action and community during the pandemic. Do Johnson and his colleagues get it? Other than the energetic Chancellor Rishi Sunak, there is a paucity of telegenic talent in the Cabinet. Johnson’s chief adviser Cummings has no public standing in this crisis. He broke the quarantine rules he helped shape during the first lockdown.Even the much-maligned Iron Lady Margaret Thatcher got the human factor. She was the first British prime minister to make regular appearances on “soft” daytime television and radio shows to signal that she was not just a warrior queen. At the height of the bitter miners’ strike of 1984-1985 she turned up in a pit village to give emotional support to the tearful wives of miners who did not strike.Johnson does cheery humor and cavalier insouciance, but he strains or disdains to feel others’ pain. A very different, puritanical prime minister, Gordon Brown, had a similar problem. His advisers would tell him to connect with ordinary voters’ concerns and at least make a show of listening. Brown would grunt assent and then carry on in his usual gruff, lofty manner. This was one of the factors that led to his electoral defeat in 2010.Johnson’s government recognizes that communications need to change. The appointment of journalist Allegra Stratton to make their case in televised press conferences suggests as much. Still, her job won’t be easy. As the fictitious White House spin doctor CJ would have said in “The West Wing,” “Give me something to work with.”This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Martin Ivens was editor of the Sunday Times from 2013 to 2020 and was formerly its chief political commentator. He is a director of the Times Newspapers board. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.