Wages gap widening – Woodward

first_img Woodward said: “In terms of player wages we are seeing inflation around it but we are also seeing, particularly within the Premier League, a fall in the acceleration around player wage growth. “I think [this is] due to financial fair play rules and the rules that have been put in place in the Premier League. “But when you look at the top end of wages, the top 10 teams in Europe or the top players, we are seeing inflation at that end. There is a bit of a mix going on and we will present a blend of that over the next three to five years.” Woodward added that he was “excited” by BT Sport’s deal for Champions League TV rights which should see English clubs earn an extra £10million to £15million annually from 2015. BT Sport outbid Sky and ITV to land the rights – it is paying nearly £900million for Champions League and Europa League matches, more than twice the current value. That is also likely to lead to more intense competition for the Premier League TV rights from 2016, as Sky will be even more desperate to retain them. Woodward said: “Sport is the ‘must-have’ content, its value has grown dramatically. “We are excited by the continuing rise in the value of sports content, evidenced, amongst other things, by the recently announced BT deal for the UK rights to broadcast the Champions League and Europa League matches for three seasons from 2015/16. “This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenues for the participating clubs.” United’s overall debt remains much the same, at £361million, but the cost of servicing the debt has dropped considerably, by 21%, to £9.8million for the quarter primarily due to refinancing to achieve a much lower interest rate. Manchester United executive vice-chairman Ed Woodward believes the gap is widening between the salaries of the superstar players and those of the rank and file. Woodward envisages the very top players continuing to be able to demand higher and higher wages but UEFA’s financial fair play rules, and new regulations brought in this season by the Premier League, are bringing pressure to bear on salaries. United’s revenues rose by 29.1 per cent to £98million for the first quarter of this financial year thanks to new sponsorship deals and the effect of the new Premier League TV rights deals, but staff costs rose by 31% to £52.9million, partly due to player wage increases. center_img Press Associationlast_img read more

SWAN Past Presidents Caution against Fifth Columnists

first_imgRising from a meeting, past presidents of Sports Writers Association of Nigeria have cautioned those fanning embers of discord in the sports body.This is just as they praised members of the association for resisting attempts by fifth columnists to cause disaffection.The communique signed by Steve Alabi, Olu Amadasun and Saidu Abubakar further commended the transparency of the processes leading to the election of a new National Executive led by Honour Sirawoo. According to them “we commend the commitment of the entire leadership of the Association across the 37 chapters in the country, to democratic principles in the emergence and renewal of leadership without compromise.“We commend the stout resolve of the entire membership of the Association to resist absurd overture from some quarters to subvert the 2019 National Triennial Delegates Conference which successfully held in Port Harcourt from Sunday, October 6, 2019 to Wednesday, October 9, 2019.While expressing satisfaction with the peaceful and orderly manner the Triennial Delegates Congress was held, they were appreciative of the support of Rivers State Governor, Nyesom Wike to the Association, commending his giant strides in sports and other areas of development.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Bergman, Morgan ready to face the issues at public forum

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisAlpena — Current Republican Congressman Jack Bergman and Democratic Challenger Matt Morgan will talk about their platforms and address questions on the issues at the League of Women Voter’s candidate forum next Monday night.Morgan and Bergman are running to represent the 1st congressional district which spans from the Upper Peninsula to northeast Michigan.The forum will be held at Alpena Community College’s Granum Theatre. Audience members can ask questions for the candidates to discuss. The event starts at 7:00 p.m. and is open to the public.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Jack Bergman, Matt MorganContinue ReadingPrevious What’s Trending for October 1Next Great Lakes largest cruise welcomes hundreds of Germans to shorelast_img read more

When Does the Industry Believe Interest Rates Will Drop

first_img Federal Reserve Interest rates 2019-06-19 Mike Albanese in Daily Dose, Featured, Government, News When Does the Industry Believe Interest Rates Will Drop? Those waiting for interest rates to drop for the first time in almost 10 years will have to wait a bit longer, as the Federal Reserve decided Wednesday not to reduce rates.“The Fed held rates steady today as it navigated a challenging balancing act between the easing of global central banks, investor speculation that cuts are necessary to combat slowing economic growth, and the futures markets pricing a high likelihood of a rate cut by July,” said Danielle Hale, Chief Economist for realtor.com. “The Fed ditched the previous ‘patient’ language it used and instead pledged to ‘closely monitor’ the data and ‘act as appropriate to sustain the expansion.’ This language shift opens up the possibility of a rate cut as soon as July if incoming data suggests weaker growth on the horizon.”Hale said the Fed has two goals: maximize employment and stable prices. While the May Jobs report was below expectations, unemployment remains at record lows.“This month, the Fed could have easily made the case for a scenario of more patience or a precautionary rate cut, but instead focused on responding as necessary to the incoming data,” Hale said. “We’ll see if [Wednesday’s] decision to hold rates steady unnerves investors, consumers, or businesses or if they find the Fed’s flexible posture reassuring.”A survey from WalletHub found that there was a 23% chance that the Fed will reduce interest rate on Wednesday’s meeting. The chances of an increase, though, increase to 97% by September 18.The Fed has increased interest rates nine times, with no decreases, since December 2015.The survey stated that 76% of people support a rate cut, and around the same amount said it would be good for the economy.“The Fed probably won’t cut its target rate at its June meeting,” said WalletHub CEO Odysseas Papadimitriou. “But future pricing indicates we’re almost certain to see a rate reduction this summer or early fall.”center_img June 19, 2019 299 Views Sharelast_img read more