Reds board & members 'all delighted' with takeover
The takeover by Canadian consortium, the Toronto Investment Group (TIG), could see the north Belfast club moving to a full-time model and making improvements to their Solitude home.
Following Wednesday's meeting, a Cliftonville statement said the next stage in the process would involve the club's legal representatives engaging with their counterparts at TIG.
Speaking on Thursday, Magilton said he hasn't "been involved in any of it".
"The club wants to redevelop and I think they're looking forward to that aspect of it," added the Cliftonville boss.
"The competition in the league is so fierce now. Obviously finances does and will help you try and bring maybe a different level of player.
"We'll still go about our business the way we do in terms of recruitment and try and look at the characteristics of the player and that won't change.
"I haven't spoken to anybody from the group, so I won't know that until I'm invited into that conversation."
Magilton added that "somewhere down the line, I [will] get an opportunity to speak to them and see what their vision is".
"Even when I was an outsider looking in, it's a club with massive potential," continued the Reds boss.
"That's brought to the fore with an Irish Cup final, when you see the numbers coming in, the tickets selling so quickly and the redevelopment of the ground etc. It puts Cliftonville on the map."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
40 minutes ago
- Yahoo
Canadian dollar falls as inflation data fuels rate cut bets
By Fergal Smith TORONTO (Reuters) - The Canadian dollar hit its lowest in almost three weeks against its U.S. counterpart on Tuesday as oil prices fell and cooler domestic inflation data raised expectations the Bank of Canada would cut interest rates in the coming months. The loonie was trading 0.4% lower at 1.3855 per U.S. dollar, or 72.18 U.S. cents, after touching its weakest intraday level since August 1 at 1.3860. Canada's annual inflation rate eased to 1.7% in July from 1.9% in the prior month, helped by lower gasoline prices, while 3-month annualized measures of underlying inflation that the BoC closely tracks decelerated to 2.4% from 3.4%, according to Reuters calculations. "I think the more impactful bit of the report is that deceleration in three-month rates of core CPI," said Robert Both, senior Canada macro strategist at TD Securities. "So even with CPI-trim and median still running near 3% year-over-year, the bank has put a little more weight on those three-month core rates." Investors see a 39% chance of a rate cut from the Canadian central bank at the next policy decision on September 17, up from 31% before the data, and have leaned heavily toward an easing of policy by October. The price of oil, one of Canada's major exports, was down 1.1% at $62.71 a barrel as traders assessed the possibility that talks between Russia, Ukraine and the U.S. to end the war in Ukraine could lead to the lifting of sanctions on Russian crude, raising supply. One possible bright spot for the loonie was the ending of a strike by flight attendants at Air Canada, the nation's largest carrier, which could have weighed on the domestic economy. Canadian bond yields moved lower across the curve, with the 10-year down 4.4 basis points at 3.446%. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
About 80% of Canadians Say Trump Won't Honor a Trade Deal, Poll Finds
(Bloomberg) -- Mark Carney's government has been trying to reach a new trade accord with the US, but most Canadians are skeptical that President Donald Trump will keep his word on any deal. Four in five Canadians say they think it's unlikely that Trump would honor a future trade agreement with their country, according to a poll by Nanos Research Group conducted for Bloomberg News. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome The survey highlights a political challenge for Carney, who became prime minister in March, then won a snap election in April by promising to strike a new trade and security relationship with the US. He hasn't been able to deliver on that yet, and the Nanos poll suggests the public harbors serious doubts that any agreement would be lasting. Trump signed off on the new US-Mexico-Canada Agreement during his first term in office, hailing it as the 'largest, fairest, most balanced and modern trade agreement ever achieved.' Since returning to power in January, he has nevertheless imposed tariffs on steel, aluminum, automobiles and other products from Mexico and Canada. On Aug. 1, the US increased its tariff to 35% on imports of Canadian products that don't comply with USMCA. The previous rate was 25%. The White House said the move was justified because Canada hasn't done enough to crack down on fentanyl trafficking. Still, Canadian exporters, on average, face a lower tariff rate because the White House has kept an exemption in place for many products from Canada and Mexico, as long as they're shipped in compliance with the rules of USMCA. The trade agreement is scheduled for a review next year. The economic stakes of a trade deal are much higher for Canada than for most other countries. Last year, three-quarters of Canada's merchandise exports went to the US, led by oil and gas. Exports represent about a third of the country's gross domestic product. At the same time, the northern nation is a large market for US exporters — about $440 billion in US goods and services last year, more than any other country, according to US Commerce Department data. Excluding energy products, the US has a trade surplus with Canada. Trump has made a series of deal announcements with other trading partners including Japan, South Korea and the UK that reduce taxes on US imports of their products. But the vague terms mean major trading partners have to been made to wait before the promised tariff relief kicks in. In May, UK Prime Minister Keir Starmer said he'd cut a deal with Trump to see US tariffs on British steel reduced to zero. It hasn't happened yet. Nor has the promised reduction of US import taxes on vehicles from the European Union, Japan and South Korea. In a Tuesday interview with CNBC, Commerce Secretary Howard Lutnick said written documents on some recent trade deals were 'weeks away.' In the same Nanos survey, a majority of respondents said the impact of US tariffs on the Canadian economy is about the same as they'd expected. Fifteen percent said the impact has been better than they thought it would be, 17% said it was worse and 12% of respondents were unsure. Nanos surveyed 1,034 Canadian adults online and on the phone between July 31 and Aug. 6. The results are accurate to plus or minus 3.1 percentage points, 19 times out of 20. --With assistance from Laura Dhillon Kane. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Survived Bankruptcy. Next Up: Cultural Relevance? Americans Are Getting Priced Out of Homeownership at Record Rates ©2025 Bloomberg L.P.
Yahoo
3 hours ago
- Yahoo
About 80% of Canadians Say Trump Won't Honor a Trade Deal, Poll Finds
(Bloomberg) -- Mark Carney's government has been trying to reach a new trade accord with the US, but most Canadians are skeptical that President Donald Trump will keep his word on any deal. Four in five Canadians say they think it's unlikely that Trump would honor a future trade agreement with their country, according to a poll by Nanos Research Group conducted for Bloomberg News. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome The survey highlights a political challenge for Carney, who became prime minister in March, then won a snap election in April by promising to strike a new trade and security relationship with the US. He hasn't been able to deliver on that yet, and the Nanos poll suggests the public harbors serious doubts that any agreement would be lasting. Trump signed off on the new US-Mexico-Canada Agreement during his first term in office, hailing it as the 'largest, fairest, most balanced and modern trade agreement ever achieved.' Since returning to power in January, he has nevertheless imposed tariffs on steel, aluminum, automobiles and other products from Mexico and Canada. On Aug. 1, the US increased its tariff to 35% on imports of Canadian products that don't comply with USMCA. The previous rate was 25%. The White House said the move was justified because Canada hasn't done enough to crack down on fentanyl trafficking. Still, Canadian exporters, on average, face a lower tariff rate because the White House has kept an exemption in place for many products from Canada and Mexico, as long as they're shipped in compliance with the rules of USMCA. The trade agreement is scheduled for a review next year. The economic stakes of a trade deal are much higher for Canada than for most other countries. Last year, three-quarters of Canada's merchandise exports went to the US, led by oil and gas. Exports represent about a third of the country's gross domestic product. At the same time, the northern nation is a large market for US exporters — about $440 billion in US goods and services last year, more than any other country, according to US Commerce Department data. Excluding energy products, the US has a trade surplus with Canada. Trump has made a series of deal announcements with other trading partners including Japan, South Korea and the UK that reduce taxes on US imports of their products. But the vague terms mean major trading partners have to been made to wait before the promised tariff relief kicks in. In May, UK Prime Minister Keir Starmer said he'd cut a deal with Trump to see US tariffs on British steel reduced to zero. It hasn't happened yet. Nor has the promised reduction of US import taxes on vehicles from the European Union, Japan and South Korea. In a Tuesday interview with CNBC, Commerce Secretary Howard Lutnick said written documents on some recent trade deals were 'weeks away.' In the same Nanos survey, a majority of respondents said the impact of US tariffs on the Canadian economy is about the same as they'd expected. Fifteen percent said the impact has been better than they thought it would be, 17% said it was worse and 12% of respondents were unsure. Nanos surveyed 1,034 Canadian adults online and on the phone between July 31 and Aug. 6. The results are accurate to plus or minus 3.1 percentage points, 19 times out of 20. --With assistance from Laura Dhillon Kane. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Survived Bankruptcy. Next Up: Cultural Relevance? Americans Are Getting Priced Out of Homeownership at Record Rates ©2025 Bloomberg L.P. Sign in to access your portfolio
