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Carlisle bare-knuckle boxing champion announces retirement

Carlisle bare-knuckle boxing champion announces retirement

Yahoo5 days ago
Carlisle bare-knuckle boxer Danny Christie has announced his retirement from the BKFC.
The 40-year-old former UK champion says he will no longer fight on the major bare-knuckle platform.
Christie announced his decision following his recent defeat in a British welterweight title fight against Connor Tierney.
The Currock fighter initially retired last autumn only to reverse his decision to take on Tierney.
Now Christie is stepping down from the top bare-knuckle scene again.
"The time has come for me not to compete any more," said the Cumbrian on his YouTube channel.
"I'm retiring from the BKFC.
"I'm not going to compete any more in bare-knuckle.
"I just don't feel like I've got anything left to do in this game.
"Never, ever in my wildest dreams or imagination could I ever have envisioned me doing what I've done in the BKFC.
"What an honour and a privilege it's been to be one of the names that's helped pioneer this company in the UK and make it what it is today.
"Bare-knuckle is where it's at. I love the BKFC. I love the sport, I love the game.
Christie defeated Anthony Holmes to win the British light-heavyweight BKFC title in 2023, and has also had title fights in other weight divisions (Image: BKFC)
"I've had some brilliant feedback from the BKFC. They've made a position available to me, working with the company in the UK, which is massive, and brilliant. It's what I wanted to do.
"I'm an ambassador for the BKFC. But I've decided enough's enough."
Christie said he had "retired" after previous fights but added: "There's only so many times I can keep doing this.
"There's only a certain amount of training camps that you're willing to put yourself through."
Christie became the British light-heavyweight champion in 2023 when, after victories over Terry Brazier and Darren Godfrey, he defeated Anthony Holmes in Leeds to take the belt.
After defeat to American fighter Jared Warren, he successfully defended his British title against David Round.
Christie then moved to middleweight and defeated Jimmy Millar, earning a world title shot where he was beaten by American star David Mundell.
That fight last October prompted Christie to retire but he returned to take on Tierney in Birmingham last month.
Home-city favourite Tierney got the better of Christie by technical knockout in the fourth round of a closely-contested and ferocious fight.
After nearly three weeks since that fight the Carlisle boxer has now reached his decision to call it a day.
"I've just headlined two shows back to back," he added. "I've got no interest in going back and fighting some randomer on the middle of a card somewhere.
"No disrespect to the lads who are doing that, but I've come such a long way."
Christie said he will "still be in the game," with the Currock man having been working with up-and-coming Carlisle fighter Kieron Sewell, who has just signed a deal to join the BKFC.
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Tierney has 'fire' to help Welsh rugby transform
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time16 minutes ago

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Tierney has 'fire' to help Welsh rugby transform

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Kate Middleton's Wimbledon Dress Generates $918,000 in Media Exposure for Self-Portrait
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time30 minutes ago

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Kate Middleton's Wimbledon Dress Generates $918,000 in Media Exposure for Self-Portrait

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Why have Nottingham Forest taken out an £80m loan from Apollo Management?
Why have Nottingham Forest taken out an £80m loan from Apollo Management?

New York Times

timean hour ago

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Why have Nottingham Forest taken out an £80m loan from Apollo Management?

Nottingham Forest have taken a loan of £80million ($108m) with Apollo Management, a global asset management company based in New York. It is the company's first venture into Premier League finance. The three-year loan, which was secured in December 2024, will operate with an interest rate of 8.75 per cent. Advertisement For Forest, £55million of the loan was used to refinance an existing debt with Rights and Media Funding Group (RMF) as a potential cost-saving exercise. It is secured against the entirety of the club and its assets, the most significant of which is the City Ground. It is not an unusual practice for clubs to secure finance in such a manner. In fact, it is a reasonably regular occurrence; fleeting star players aside, a club's most valuable asset tends to be its home, so that's what gets put up as security when large tranches of funding are obtained. But, when it involves a headline figure of such a high number, it might raise some questions among fans. Which The Athletic attempts to answer here… Apollo — or Apollo Global Management — is a global asset management company, headquartered in Midtown Manhattan. Founded in 1990, Apollo had, as of the end of 2024, assets under management of $751billion, ranking them as the 28th largest asset management firm in the world, according to the Sovereign Wealth Fund Institute. Apollo was co-founded by Josh Harris, now a shareholder at Crystal Palace. Harris left Apollo in 2022, though retained a six per cent shareholding in the firm as of April this year. Naturally, the firm's business is widely diversified, with various companies in operation. Of the £80million loaned to Forest last December, £25m is owed to Apollo Debt Solutions (ADS) BDC (the latter standing for 'Business Development Company'), a subsidiary of the Apollo group. Based on filings by Forest's holding company, NF Football Investments, the remaining £55m is held by Apollo Investment Management Europe, a Luxembourg-based entity. While this is Apollo's first known direct foray into football, the Financial Times reported this week that the investment firm is in talks to buy a stake in Atletico Madrid. Advertisement Which isn't to say the firm is not already active in sport. ADS' loan book includes two term loans, totalling $172million, given to Endeavor, owners of World Wrestling Entertainment and the Ultimate Fighting Championship via their ownership of TKO Group. A further $52m was loaned to TKO earlier this year, while there's another $5m due from Delta 2, a Luxembourg-based company that holds debt for Formula One. There's an existing link to football too. Also on ADS' list of investments at the end of March was a £40m loan to Sports Invest Holdings Limited, a business set up last May by prominent football advisor, Kia Joorabchian. Rights and Media Funding Limited is a Macclesfield-based company that lends to the sports and entertainment industries. RMF loaned Forest £55million in two tranches. First, in August 2022, £45m repayable by July 30 2025, bearing interest at 7.5 per cent plus the Bank of England (BOE) base rate (then 1.75 per cent; now 4.25 per cent), then a further £10m in October 2023, again repayable by July 30 2025, this time bearing interest at 6.45 per cent plus the BOE base rate. Both loans have now been repaid in full and were filed as such on January 6 this year. Forest aren't the first club to have received funding from RMF, whose most high-profile lending was to Everton before the club's takeover by The Friedkin Group last December. At one stage, that debt sat at £225m, though it was all repaid following the takeover. As well as Everton, RMF has previously loaned money to West Ham (varying amounts between 2017 and 2020), and a cohort of 11 clubs in Spain. The lender provided €67million in December 2020 in a joint-financing venture that looked to shore up liquidity during the Covid-19 pandemic. In July 2021, RMF loaned Valencia €51m over five years, before organising a separate €20m, over four and a half years, to the Mestalla club in January 2024. Per RMF's balance sheet at the end of June 2024, the company was owed loans in the region of £288million, the vast majority of which looks to have been amounts due from Everton and Forest. Both clubs are now free of debt to RMF. The £80million loaned from Apollo to Forest is senior debt, meaning it takes priority when it comes to repayment; in the unlikely event Forest were heading out of business, Apollo would be at the front of the resultant queue. The loan has a three-year term, due for repayment on December 20 2027, though there is provision for that to be extended a further two years. It incurs 8.75 per cent interest annually or, based on the £80m balance, £7m per year. That was around half Forest's total matchday income in the 2023-24 season (the latest for which we have figures). Advertisement £55m of the Apollo loan has been used to repay the amounts due to RMF. Based on most recent interest rates, those RMF loans were incurring £6.4m in annual interest, so this refinancing — now a common occurrence in football — works out cheaper in a sense; applying the Apollo interest rate to £55m gives an annual charge of £4.8m. Of course, Forest have borrowed above and beyond their previous debt to RMF, taking out a further £25m this time around. It is unclear what the additional funding is to be used for. It is difficult to read too much into the timing of the loan, beyond the fact that the restructuring of the debt should ultimately reduce costs for the club. With those RMF loans due for repayment at the end of July, it makes sense that the club looked elsewhere — successfully — for cheaper financing. The club have declined to comment. Debt has long been a dirty word in football, but it need not be; the only way debt becomes overly problematic is if clubs are unable to service it, or it unduly impacts their ability to spend elsewhere. In that sense, Forest shouldn't have too much new to be concerned about in the immediate future. While their debt burden has increased by £25million, the more favourable rate — and a fixed one at that — means interest costs have only increased by around £0.6m annually. That is, however, simply relative to the club's previous position. £7m in annual interest isn't too bad for a club in the Premier League and the commensurate wealth that brings (The Athletic estimates Forest earned £157.5m in domestic prize money alone last season), but should a bad season result in relegation, interest quickly becomes a much bigger problem. An 8.75 per cent interest rate is hardly cheap, though it's also not as hefty as some other clubs are paying — including Forest's own recent payments to RMF. Rates are high generally and a potential drop into the Championship, deemed a possibility for all but a minority of clubs, makes it difficult to obtain low-rate lending. A positive is that Forest have now locked in the rate on this tranche of funding, so are no longer subject to interest rate swings and have certainty over upcoming payments — though, of course, that could turn to a negative if rates fall in the future. Advertisement Of greater concern is whether Forest have anything to show for it. If the money has only been used to cover ongoing costs, that's much less desirable than pouring it into infrastructure; for example, the imminent works at the City Ground. Debt just to fund existing operations always raises the question of how it will eventually be repaid. Eight Premier League clubs paid more in interest than Forest in 2023-24, some substantially so, but several of those did it to build new or improved facilities. There's also the important point that all of the club being used as security precludes Forest from putting its assets up against any other funding, such as whatever may be required to pay for those City Ground works. That money will, presumably, have to come from the pockets of owner Evangelos Marinakis. The repayment date for the Apollo loan isn't until December 2027, but could be extended to 2029, and it may be that Forest simply refinance again. In the immediate term, the lending doesn't look overly risky or expensive — at least relative to what went before. But finances at Forest, like most clubs outside a handful, will remain reliant on on-field success.

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