Hamilton feeling ‘useless' after Hungarian GP qualifying flop
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Arab News
11 hours ago
- Arab News
Soccer-FIFA faces Dutch class action over player transfer regulations
Aug 4 : A Dutch soccer players' group is preparing a 'potentially billion-dollar' class action claim against FIFA and other soccer associations, seeking compensation over alleged loss of income due to restrictive transfer rules, it said on Monday. The Dutch Foundation for Justice said world soccer governing body FIFA's rules had affected approximately 100,000 players in European member states and the United Kingdom since 2002. The foundation added that consultancy firm Compass Lexecon had estimated that damages could run into billions of euros, with the foundation's board member Dolf Segaar telling Dutch news agency NOS that 'it is a billion-dollar claim.' The Dutch Football Association (KNVB) is among the associations to be named in the suit. 'This case is being brought in the Netherlands under the Dutch Act on the Settlement of Mass Damages in Collective Action (WAMCA), which allows this legal action to be launched by JfP on behalf of a large group of professional footballers,' it added. FIFA and the KNVB did not immediately respond to emailed requests for comment. The foundation added that a preliminary analysis from global economic consulting company Compass Lexecon estimated that professional footballers collectively earned around 8 percent less over their careers than they would have due to FIFA's regulations. 'All professional football players have lost a significant amount of earnings due to the unlawful FIFA Regulations,' foundation chair Lucia Melcherts said in a statement. ''Justice for Players' is bringing this claim to help achieve justice for footballers and fairness.' The foundation added that the case was launched following a ruling on French player Lassana Diarra, who was fined 10 million euros ($11.56 million) by FIFA for leaving Lokomotiv Moscow one year into a four-year deal. In October 2024, the Court of Justice of the European Union said some of FIFA's rules on player transfers went against European Union laws and free movement principles in the case linked to former Chelsea, Arsenal and Real Madrid player Diarra. Following the ruling by the EU's top court, FIFA in December adopted an interim framework concerning the Regulations on the Status and Transfer of Players. The interim regulatory framework affects the calculation of compensation payable if there is a breach of contract and the burden of proof in relation to both compensation payable and an inducement to breach a contract. Justice for Players said it will be advised by law firm Dupont-Hissel, founded by Jean-Louis Dupont. Dupont is the same lawyer who took the landmark case of Belgian Jean-Marc Bosman, which in 1995 cleared the way for players in the European Union to move to other clubs at the end of contracts without a transfer fee being paid. Dupont-Hissel also represented Diarra in his case against FIFA, with Dupont saying in 2024 that a judgment backing the player would be a milestone in modernizing football governance. He added that it would allow players' unions and club associations to regulate their employment practices.
Asharq Al-Awsat
a day ago
- Asharq Al-Awsat
Norris Holds off Piastri for Hungarian GP Win
Lando Norris held off McLaren teammate Oscar Piastri to win the Hungarian Grand Prix on a one-stop strategy and slash the Australian's Formula One lead to nine points going into the August break. Norris completed 39 of the 70 laps on a single set of hard tires while Piastri stopped twice and closed a 12-second gap to just 0.6 at the finish, with a nail-biting chase to the chequered flag and a near-collision. George Russell took a distant third, 20 seconds down the road, to complete the Hungaroring podium for Mercedes and take his fifth podium of the season. "I'm dead. I'm dead. It was tough," gasped Norris, who started in third place -- with Piastri second -- and then went down to fifth after being squeezed at the start. "We weren't really planning on the one-stop but after the first lap it was kind of our only option to get back into things. "I didn't think it would get us the win, I thought it would get us maybe into second." The win was Norris's fifth of the season, and third in the last four, to Piastri's six. It was also McLaren's seventh one-two in 14 races. Ferrari's Charles Leclerc was a frustrated fourth, after starting on pole position but losing out with a two-stop strategy and a five-second penalty for erratic driving as Russell challenged. Fernando Alonso finished fifth for Aston Martin, ahead of Sauber's sixth-placed Brazilian rookie Gabriel Bortoleto. Lance Stroll was seventh for Aston Martin ahead of Racing Bulls' Liam Lawson, with Red Bull's reigning champion Max Verstappen and Mercedes rookie Kimi Antonelli completing the top 10 scoring positions. Seven-times world champion Lewis Hamilton, an eight-times winner in Hungary, started in 12th place for Ferrari and finished there. The Briton was lapped by the leaders six laps from the chequered flag.
ArabGT
a day ago
- ArabGT
Aston Martin Retreats from Formula 1 Amid Financial Turmoil
Aston Martin, the legendary British luxury carmaker, is navigating a pivotal chapter in its history. Faced with mounting financial strain, the company has announced plans to sell its minority stake in its Formula 1 team and is reportedly considering delisting from the London Stock Exchange—a potential shift that could reshape its future. The automaker revealed its intention to sell a 4.6% share in AMR GP Holdings, the entity behind its Formula 1 team, in a deal worth roughly $146 million (£110 million). Although the stake is relatively minor and doesn't influence team operations, the move is a key part of a broader strategy to reinforce Aston Martin's financial foundation and refocus on its core luxury car business. The pressure on the brand has intensified in 2025. Aston Martin recently cautioned investors that it may barely break even or post only minimal profit by year's end. This pessimistic outlook stems from two major setbacks: a 25% tariff on vehicle exports to the U.S. and slowing demand in China—a market responsible for nearly a third of the company's sales. To counter these challenges, executive chairman Lawrence Stroll, through the Yew Tree Consortium, has committed to investing an additional £52.5 million by acquiring 75 million new shares. This move boosts the consortium's stake from 27.7% to 33% and provides essential capital to stabilize operations and fund upcoming initiatives. Behind the scenes, a more transformative change may be underway. Industry analysts suggest Aston Martin could be preparing to go private, shedding the burdens of public-market scrutiny. Delisting would simplify ownership, cut administrative costs, and offer the flexibility to pursue long-term strategic partnerships without the pressure of quarterly performance targets. Considering the brand's market cap has plummeted from £4.3 billion in 2018 to just £665 million today, such a shift appears increasingly likely. Key players in this potential evolution include the Yew Tree Consortium, Saudi Arabia's Public Investment Fund (PIF), and China's Geely. Despite the stake sale, the Aston Martin name will remain on the Formula 1 grid through a long-term commercial naming agreement. However, this raises broader concerns: will the brand's continued presence in F1 reflect genuine involvement—or merely serve as a marketing badge? Interestingly, the Formula 1 team itself has now eclipsed its parent company in value. With AMR GP Holdings valued at £2.4 billion ($3.2 billion), Aston Martin's 4.6% stake barely scratches the surface of the operation it helped launch. The company now stands at a strategic crossroads. Whether it embraces a private future, distances itself from motorsport operations, or reshapes its investor base, Aston Martin's next moves will determine whether it endures as an icon of British motoring—or becomes a cautionary tale of ambition tested by economic reality.
