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By ERIC TUCKER WASHINGTON (AP) — A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said this month that at least eight telecommunications companies , as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, the deputy national security adviser for cyber and emerging technologies, told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China’s hacking sophistication. The hackers compromised the networks of telecommunications companies to obtain customer call records and gain access to the private communications of “a limited number of individuals.” Though the FBI has not publicly identified any of the victims, officials believe senior U.S. government officials and prominent political figures are among those whose whose communications were accessed. Related Articles National News | Court rules Georgia lawmakers can subpoena Fani Willis for information related to her Trump case National News | US homelessness up 18% as affordable housing remains out of reach for many people National News | OpenAI whistleblower death: Parents want to know what happened to Suchir Balaji after apparent suicide National News | Most Americans blame insurance profits and denials alongside the killer in UHC CEO death, poll finds National News | Another jackpot surpasses $1 billion. Is this the new normal? Neuberger said officials did not yet have a precise sense how many Americans overall were affected by Salt Typhoon, in part because the Chinese were careful about their techniques, but a “large number” were in the Washington-Virginia area. Officials believe the goal of the hackers was to identify who owned the phones and, if they were “government targets of interest,” spy on their texts and phone calls, she said. The FBI said most of the people targeted by the hackers are “primarily involved in government or political activity.” Neuberger said the episode highlighted the need for required cybersecurity practices in the telecommunications industry, something the Federal Communications Commission is to take up at a meeting next month. “We know that voluntary cyber security practices are inadequate to protect against China, Russia and Iran hacking of our critical infrastructure,” she said. The Chinese government has denied responsibility for the hacking.
Republican U.S. Sen.-elect Tim Sheehy this week claimed a firework-ignited grass fire set near his campaign sign west of Livingston was a politically motivated arson. A Park County sheriff’s deputy on Dec. 21 notified dispatchers of a fire near Interstate 90 and West End Road. On social media, the sheriff’s office said winds that night were clocked at 50-to-60 mph and helped push the fire out to 26 acres. Image of the area west of Livingston burned by someone discharging fireworks into the grass on Dec. 21, 2024. (courtesy Park County Sheriff's Office) Authorities issued evacuations for the nearby residents and firefighters knocked the blaze down in roughly an hour and a half, according to the sheriff’s office post. The fire "definitely" started near a Sheehy campaign sign, the rural fire district chief told the Livingston Enterprise . And while law enforcement has obtained video of the suspect's vehicle fleeing the area after starting the fire, it appeared Friday that no one had been charged yet. Republican U.S. Senate candidate Tim Sheehy addresses supporters early Wednesday morning at the Kimpton Armory Hotel in Bozeman. On Tuesday Sheehy appeared near the scorched scene and issued a social media post of appreciation for the responders, which, according to the Enterprise , included neighbors to the threatened properties. He also posted a picture with two Montana Department of Transportation employees, whose facility was adjacent to the burned area, as well as a photo of a blackened building. Initial reports from the sheriff’s office did say the incident was being investigated as a criminal act but did not imply political motivations, although Sheehy appeared certain of it in a video posted to his social media. "We just visited with the Jensen family here, four beautiful young kids, it was actually their third daughter’s birthday the night that these arsonists started the fire to burn down our sign and started about a 30-acre wildfire, burned their grazing land, harmed their property and its just sad that would happen here," Sheehy said. "We can still disagree, we can still respect each other in this country. We don't have to do things like this." Grateful to the Montanans who helped respond to this fire on Saturday before it did even more damage. While the investigation remains underway, this type of dangerous, reckless violence has no place in Montana. Terrible way for these folks to start the Christmas week, but they... pic.twitter.com/djsWv013TT The Park County Sheriff's Office said on Facebook on Monday it had obtained video evidence of a person shooting a firework out of a moving vehicle and igniting the dry grass before heading west on I-190. "It was definitely someone setting off fireworks at the sign," Park County Rural Fire District Chief Dann Babcox told the Enterprise , referencing law enforcement reports. A call to the sheriff's office on Friday seeking any update or arrest information was not immediately returned. "Very disappointing, really tough way for these families to enter the Christmas week," Sheehy continued in his video. "It's effected several families here, including some structures, its a tough way for these people to have to start the holiday season." Seaborn Larson has worked for the Montana State News Bureau since 2020. His past work includes local crime and courts reporting at the Missoulian and Great Falls Tribune, and daily news reporting at the Daily Inter Lake in Kalispell. Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter. State Bureau Reporter {{description}} Email notifications are only sent once a day, and only if there are new matching items.Trudeau, Carney push back over Trump's ongoing 51st state comments OTTAWA — Two senior members of the federal cabinet were in Florida Friday pushing Canada's new border plan with Donald Trump's transition team, a day after Trudeau himself appeared to finally push back at the president-elect over his social media pos Alessia Passafiume, The Canadian Press Dec 27, 2024 12:00 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Minister of Foreign Affairs Melanie Joly, centre, Prime Minister Justin Trudeau, right, and Dominic LeBlanc participate in a news conference in Ottawa, on Monday, Oct. 14, 2024. LeBlanc and Joly are in Florida to meet with officials from President-elect Donald Trump's incoming administration.THE CANADIAN PRESS/Justin Tang Listen to this article 00:01:24 OTTAWA — Two senior members of the federal cabinet were in Florida Friday pushing Canada's new border plan with Donald Trump's transition team, a day after Trudeau himself appeared to finally push back at the president-elect over his social media posts about turning Canada into the 51st state. Both Trudeau and former Bank of Canada governor Mark Carney, who Trudeau has been courting to become Canada's next finance minister, shared posts on X Thursday, a day after Trump's latest jab at Canada in his Christmas Day message. It isn't clear if Finance Minister Dominic LeBlanc, who has repeatedly insisted Trump's 51st state references are a joke, will raise the issue with Trump's team when he and Foreign Affairs Minister Mélanie Joly meet with them in Palm Beach. The two are there to discuss Canada's new $1.3 billion border plan with just under four weeks left before Trump is sworn in again as president. He has threatened to impose a new 25 per cent import tariff on Canada and Mexico the same day over concerns about a trade imbalance, as well as illegal drugs and migration issues at the borders. The broad strokes of Canada's plan were made public Dec. 17, including a new aerial intelligence task force to provide round-the-clock surveillance of the border, and improved efforts using technology and canine teams to seek out drugs in shipments leaving Canada LeBlanc's spokesman, Jean-Sébastien Comeau, said the ministers will also emphasize the negative impacts of Trump's threatened tariffs on both Canada and the U.S. Comeau said the ministers will build on the discussions that took place last month when Trudeau and LeBlanc met Trump at Mar-a-Lago just days after Trump first made his tariff threat. It was at that dinner on Nov. 29 when Trump first raised the notion of Canada becoming the 51st state, a comment LeBlanc has repeatedly since insisted was just a joke. But Trump has continued the quip repeatedly in various social media posts, including in his Christmas Day message when he said Canadians would pay lower taxes and have better military protection if they became Americans. He has taken to calling Trudeau "governor" instead of prime minister. Trudeau had not directly responded to any of the jabs, but on Thursday posted a link to a six-minute long video on YouTube from 2010 in which American journalist Tom Brokaw "explains Canada to Americans." The video, which originally aired during the 2010 Vancouver Olympics, explains similarities between the two countries, including their founding based on immigration, their trading relationship and the actions of the Canadian Army in World War 2 and other modern conflicts. "In the long history of sovereign neighbours there has never been a relationship as close, productive and peaceful as the U.S. and Canada," Brokaw says in the video. Trudeau did not expand about why he posted a link to the video, posting it only with the words "some information about Canada for Americans." Carney, who is at the centre of some of Trudeau's recent domestic political troubles, also called out Trump's antics on X Thursday, calling it "casual disrespect" and "carrying the 'joke' too far." "Time to call it out, stand up for Canada, and build a true North American partnership," said Carney, who Trudeau was courting to join his cabinet before Chrystia Freeland resigned as finance minister last week. Freeland's sudden departure, three days after Trudeau informed her he would be firing her as finance minister in favour of Carney, left Trudeau's leadership even more bruised than it already was. Despite the expectation Carney would assume the role, he did not and has not made any statements about it. LeBlanc was sworn in as finance minister instead the same day Freeland quit. More than two dozen Liberal MPs have publicly called on Trudeau to resign as leader, and Trudeau is said to be taking the holidays to think about his next steps. He is currently vacationing in British Columbia. This report by The Canadian Press was first published Dec. 27, 2024. Alessia Passafiume, The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National News After cold, snowy Christmas, temperatures to rise across southern Quebec for new year Dec 27, 2024 10:48 AM Gerry Butts says Trudeau less likely to remain leader since Freeland quit Dec 27, 2024 9:52 AM Tugboats, crews try to refloat ship stuck in St. Lawrence River near Montreal Dec 27, 2024 9:40 AM Featured FlyerWinners, losers as Eagles rout Rams 37-20 on Sunday Night Football
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DEAR MISS MANNERS: I am in a regular walking group where I have become friends with about a third of the walkers. The rest I’m polite with, but consider them acquaintances only. I host an annual party at my home for my friends. I send out private email invitations, and don’t discuss the event during the walks. One of the walkers, a rather clingy person whom I consider only an acquaintance, told me she heard I was having a party, and invited herself. I couldn’t say no. She’s a decent person, but we have nothing in common. What can I say in the future to avoid accepting self-inviting party crashers? GENTLE READER: Treat it as you would a wedding: “It’s only a small group this year, but I look forward to catching up with you on our walks.” Miss Manners suggests you also remind your invited friends not to issue unauthorized invitations or advertise the party on those walks. (Please send your questions to Miss Manners at her website, www.missmanners.com ; to her email, dearmissmanners@gmail.com ; or through postal mail to Miss Manners, Andrews McMeel Syndication, 1130 Walnut St., Kansas City, MO 64106.) Latest Advice Columns Asking Eric: Group gives pass to angry and impatient friend, saying .... ‘that’s just who he is’ Dear Abby: I know my daughter-in-law loves me, but I don’t think she likes me Dear Annie: I’m inheriting a modest sum of money and want to fairly and compassionately distribute it Hints from Heloise: How to remove blood stains, small ways to conserve water and more ... December 27 birthday horoscope and your daily astrologyWhat channel is 49ers vs. Rams on? How to watch NFL on Thursday night
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Average rate on a 30-year mortgage in the US slips to 6.81%BOLOGNA, Italy (Reuters) -Jhon Lucumi scored Bologna’s first goal of the Champions League but they fell to a 2-1 home defeat by Lille on Wednesday, with Ngal’ayel Mukau netting twice for the visitors. Lille, who have beaten Real Madrid and Atletico Madrid and drawn with Juventus, are 12th in the standings on 10 points while Bologna are 33rd on one point after slumping to a third successive defeat. Mukau opened the scoring for Lille a minute before the break before Bologna struck through Lucumi in the 63rd minute. The home fans were still celebrating when Mukau scored his second three minutes later and Bologna were unable to find another goal. Bologna came into the game as the only side in the competition yet to score, and in the fifth minute they looked to have found the breakthrough but Thijs Dallinga’s effort was disallowed for offside. Lille thought they had found a way through but Alexsandro’s header from a corner came crashing back off the upright. The visitors had another chance when Matias Fernandez-Pardo skipped through the Bologna defence but keeper Lukasz Skorupski was quick off his line to stop him getting his shot away. Lille did not have long to wait, however, and the goal came from poor Bologna defending. Stefan Posch’s attempted clearance came back off teammate Sam Beukema and Jonathan David was quickest to react and pull the ball back for Mukau. He had time to settle himself for the strike and when Charalampos Lykogiannis blocked the goalbound effort, Mukau made no mistake at the second attempt. Fernandez-Pardo had another chance to get the better of Skorupski, but again the Bologna keeper got down to snatch the ball away as the Lille forward attempted to take it past him. Dallinga had a header saved by Lille keeper Lucas Chevalier but Bologna could finally celebrate when Lykogiannis floated a free kick into the box and Lucumi got ahead of everyone to poke the ball in at the near post. Elation turned to heartbreak for Bologna when Fernandez-Pardo was allowed make his way into the area yet again and this time he pulled the ball back for the unmarked Mukau who steered his shot in from close range. (Reporting by Trevor Stynes, editing by Ed Osmond) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
MIAMI BEACH, Fla., Dec. 12, 2024 (GLOBE NEWSWIRE) -- The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the "Fund”) today announced that Thomas J. Herzfeld, Chairman of the Board of Directors has resigned from the Board as of December 31, 2024. Mr. Herzfeld has also resigned as Portfolio Manager for the Fund effective as of the same date. Mr. Herzfeld has held the position of Chairman since the Fund's launch in 1994. He will retain the position of Chairman Emeritus and participate in board meetings on a non-voting basis. The Board has elected Cecilia Gondor to serve as Chairperson effective December 31, 2024. Ms. Gondor has served on the Board of Directors since 2014. She also served as Executive Vice President of Thomas J. Herzfeld Advisors, Inc. (the Fund's investment manager) from 1984 through May 2014. During her years at the investment manager, her research analysis garnered her the reputation as being one of the most knowledgeable analysts in the industry. Additionally, she was the Executive Vice President of Thomas J. Herzfeld & Co., Inc., a broker-dealer, from 1984 through 2010. Ms. Gondor currently is an owner and the Managing Member of L&M Management LLC group of partnerships, a residential and commercial office space investor located in Alexandria, Virginia. In addition, the Board has named Brigitta Herzfeld to fill the board vacancy created by Mr. Herzfeld's resignation. Ms. Herzfeld is a current member of the investment manager's executive committee and will join the Board as of December 31, 2024. She is a graduate of Bowdoin College (BA), Stanford University (MA) and Massachusetts Institute of Technology - MIT Sloan School of Management (MBA) and Wharton-Singapore Management University (Executive Management Program). She has held positions at Goldman, Sachs & Co and Lehman Brothers Japan, Inc. Mr. Herzfeld commented: "It has been my privilege and honor to serve on the Board of Directors of The Herzfeld Caribbean Basin Fund for its entire history. As I approach my 80 th birthday, it is with much pride that I turn the leadership of the Fund over to a new generation. Cecilia Gondor has been a consistent source of expert guidance for the Fund for many years and is a great choice to take over the chair position. And Brigitta Herzfeld's financial background and long history with our firm will be an invaluable source of expertise for the board. While I will remain active with the management company, it is clear that the time has come for me to step down from active leadership of the Fund. As Chairman Emeritus I will be working harder than ever to ensure that we maximize shareholder value; we are currently exploring several options that we think will be beneficial to our shareholders.” Mr. Herzfeld has had a long and illustrious career and is generally considered to be "the father of closed-end fund investing”. Mr. Herzfeld wrote the first of his six books on the subject of closed-end funds in 1979. He is the publisher of The Investor's Guide to Closed-End Funds monthly research report and is quoted and interviewed on the subject of closed-end funds by the world's most renowned financial papers. He has served as a contributing editor for the Global Guide to Investing (published by Financial Times ), and The Encyclopedia of Investments . Ms. Gondor responded to her election to Chairperson: "To follow in the footsteps of Tom Herzfeld is a very humbling experience. He has been a mentor to me and many others in the closed-end fund industry. I look forward to working with Brigitta Herzfeld and the other board members to continue the work that Tom started 30 years ago and am honored to contribute to the legacy he has built in any way that I can.” A graduate of Philadelphia University in 1966, Mr. Herzfeld served in the United States Army Reserve from 1966-1972, and on active duty in 1967. He received an honorary Doctor of Humane Letters (LHD) from Philadelphia University in 2008. He joined the Wall Street firm Reynolds & Co., in 1968 and began a specialization in closed-end funds. He formed the NYSE member firm of Carlino, Herzfeld and Kemm in 1970 and served as the firm's Senior Partner at the age of 25. He also became an Allied Member of the NYSE, an Associate Member of the AMEX and a senior register options principal. In 1981, he formed a stock brokerage firm, Thomas J. Herzfeld & Co., Inc., that was the first to specialize in the field of closed-end funds. He created the industry's first and only Closed-End Fund Index, "The Herzfeld Average," which has been published in Barron's weekly since its establishment in 1987. He also coined the term "lifeboat provisions” used in the industry to define tactics funds take to narrow discounts and keep prices afloat. About Thomas J. Herzfeld Advisors, Inc. Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA). More information about the advisor can be found at www.herzfeld.com . Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund's investment objective, risks, charges and expenses. Please read the Fund's disclosure documents before investing. Forward-Looking Statements This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's or TJHA's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend,” "potential,” "opportunity,” "pipeline,” "believe,” "comfortable,” "expect,” "anticipate,” "current,” "intention,” "estimate,” "position,” "assume,” "outlook,” "continue,” "remain,” "maintain,” "sustain,” "seek,” "achieve,” and similar expressions, or future or conditional verbs such as "will,” "would,” "should,” "could,” "may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA's and the Fund's ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on TJHA's website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA's website is not a part of this press release. Contact: Tom Morgan Chief Compliance Officer Thomas J. Herzfeld Advisors, Inc. 1-305-777-1660Goldman Sachs Asset Management Announces Liquidation of Three Exchange-Traded FundsShanghai Shenyin Group Was Recognized as Shanghai "SRDI" EnterpriseThe folks behind the Super League . A22 Sports, the company attempting to organise an alternative competition to the UEFA tournaments (Champions League, Europa League and Conference League) that it had petitioned UEFA to recognize its new cross-border tournament, the "Unify League." This comes nearly a year after the European Court of Justice (ECJ) ruled that UEFA held a dominant position and to comply with competition law, they could not oppose the creation of other cross-border tournaments provided they met certain criteria. Among them are the stipulations that any such tournament must have a qualification process that's inclusive and meritocratic, and that complies with the FIFA match calendar. So that's it? We now have a rival to the Champions League? Not exactly, as there are a ton of hoops to jump through first. Technically speaking, the ECJ judgement found that the UEFA's regulations gave them too much power to block rival cross-border competitions, so UEFA wrote new ones immediately after the verdict -- ones they say comply with the ECJ ruling. Some of those UEFA regulations lay out criteria in terms of open and meritocratic qualification -- things the Unify League appears to meet -- while others, according to A22, do comply with the ECJ ruling. A22 say there are too many to mention, but they do cite one that prohibits any new club competition from "adversely affect the good functioning" of UEFA tournaments. (Which is kinda the point of competition: disrupt your rivals and grow your market share.) But A22 argues that UEFA's rules, as written, basically force teams who qualify for UEFA competitions to play in them. We haven't heard from UEFA yet, but you assume they think their rules are compliant with ECJ rulings. So I think we can expect more arguing between lawyers and possibly letters to the European Court to clarify this, but that's really just the first hurdle... What's the next one? Well, even if they clear that hurdle and they get their way -- which, as A22 write, means "clubs are free to decide which tournament they want" -- they then need to persuade them it's in their interest to do so. And that's not going to be easy, because while clubs are interested in prestige, history, having a say in their competitions and engaging with fans -- all that good stuff -- let's face it, money is a prime motivator. It's not clear how the Unify League's business model is going to generate more revenue in terms of commercial and media rights. (The UEFA Champions League has certainly cornered the market when it comes to being an event, arguably the Super Bowl of the sport.) What A22's model anyway? There isn't too much detail, but presumably they'll have sponsors just like UEFA does. The big difference, though, is in media rights. Instead of selling rights to broadcasters and streamers, they're going to have , the Unify Platform. All games will be shown for free, albeit with advertising. And for those who don't enjoy commercial breaks, there will be the opportunity to purchase "affordable premium subscriptions" that will offer more technological bells and whistles than standard TV. Is it possible to make more money this way? The question raises a bunch of pretty obvious questions. If all you have to do to make more money than they do in the existing competitions is show games for free with commercial breaks, why haven't existing broadcasters thought of this? And if the secret to more revenue is having "affordable premium subscriptions" -- rather than the current expensive ones -- why haven't they done that? Sure, there's some merit in questioning the current pricing model -- free to air delivers a bigger audience and more exposure for sponsors, which can mean higher ad rates, while lower subscription fees might make it a volume play, where you get more subscribers and end up with more money -- but it takes a real leap of faith to think these guys can make it work where everybody else has failed. That said, they're convinced their format will be more exciting and generate bigger audiences... How so? , but in a nutshell there will be four leagues, with the top two -- the Star League and Gold League (don't ask) -- comprised of 16 clubs each. Each league is split into two groups of eight and they play everybody home and away for a total of 14 games. The top four in each group qualify for the quarterfinals, which will also be home and away fixtures, and the semifinals and final will be single-leg affairs. I make that a total of 246 games -- marginally more than the total in the existing "Swiss Model" Champions League (237 games), but, of course, that has 36 clubs vs. the 32 in the combined Star and Gold Leagues, so I guess they can divide their pie in fewer slices and have a slightly bigger pie. As to whether it's more exciting, I'm not sure. You're going to get a lot of the same teams playing each other in a group game, year after year and, I imagine, you'll get a fair few meaningless games because, with four of eight qualifying, you could get teams knowing whether they're in or out with three or four games to go, making the final match days rather irrelevant. (Of course, this concept has been seen at tournaments before, and we're still not sure whether the first-ever Champions League matchday 8, with all 36 teams playing at the same time, will have high stakes hanging in the balance.) There's also the fact that the ECJ ruling forces them to be "merit-based" and "open to all," as that could boomerang against them. What do you mean? Well, the old/aborted European Super League had 12 guaranteed mega-clubs in it -- 15 in the original proposal, before Bayern Munich, Borussia Dortmund and Paris Saint-Germain said no. Based on A22's regulations, if the competition had kicked off this season, clubs like Borussia Dortmund, Liverpool, Aston Villa, Barcelona, Atletico Madrid -- all of whom are in the Champions League -- would not be guaranteed a place in the competition, but would need to battle their way through multiple qualifying rounds for one of the playoff spots. And guess what? Clubs like sure things and hate uncertainty, especially when it comes to revenues. But won't they end up in the next league down? You mean the "Gold League," right? Actually Atletico and Borussia Dortmund wouldn't even be guaranteed a place in either; they'd need to get there via the playoffs. But yes, the next league down will presumably generate substantially less revenue than the top league, just as the Europa League makes less money than the Champions League. That's the rub. It's a really tough sell and they'll have a difficult time convincing the clubs this is more lucrative. Unless... Unless what? Unless there's somebody out there willing to offer clubs a big, fat downside guarantee, somebody who says "I'll guarantee you more than what you're making now." And that's tough because right now, around €4.4 billion ($4.6bn) from their three competitions. Just over a billion of that goes on administrative costs (€387m), payments to clubs that don't qualify (€440m), subsidies for the Women's and Youth competitions (€25m) and in UEFA's coffers (€230m) to be redistributed to member associations. Now, A22 obviously might be able to run a leaner tournament so their administrative costs will be lower, and maybe they won't want to subsidize the women's competition. (They say they'll have one too, though it remains to be seen how the numbers work out there.) They might not pay as much to clubs who don't qualify or to member associations, though they say they'll have some solidarity mechanism. But they'll still need to get well north of that €4.4bn figure to make it worthwhile. And, remember, since they'll be running the games on their own platform, they'll also have marketing, technology and production costs that are currently absorbed by broadcasters. So yeah, I'd imagine it would take somebody willing to say "I'll chuck in €6bn a year in to cover the downside for the next couple of years to get this thing off the ground and guarantee that you clubs are better off with the Unify League than anywhere else." Frankly, that's a of money and, of course, there's the risk of a nightmare scenario for both UEFA and the Unify League. What's the "nightmare scenario" exactly? Imagine they end up competing directly with each other and A22 convinces some clubs, but not others. (Or, because there's also a whole hornets' nest of domestic legislation in various countries that prevents clubs from joining a league like this, and which may or may not be compliant with the ECJ ruling, some clubs simply can't.) What then? Let's say the Unify League has Real Madrid, Manchester City, Bayern and Inter. The Champions League has Barcelona, Liverpool, Borussia Dortmund and Juventus (presumably PSG too, unless Nasser Al Khelaifi jumps ship). Both competitions are markedly weaker and no, it's not a linear decline because the success of the Champions League is founded on having the best clubs all in one place. Take half of them away and the interest isn't halved, it goes down by a lot more than that. Mutually assured destruction might be an exaggeration, but it certainly would make life a whole heck of a lot tougher for everyone. So what happens next? I expect a lot of back and forth between lawyers, and maybe some ECJ clarification, but ultimately this feels like a power move, where A22 want to get UEFA to the table somehow. Except it's hard to see how A22 have any leverage at all because, let's face it: their business model seems goofy and nobody of note, other than Real Madrid, has gone to bat for them. Unless of course there's somebody in the shadows with several billions willing to bankroll the whole shebang.
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