Latest news with #CFG
Indian Express
22-05-2025
- Entertainment
- Indian Express
Ranbir Kapoor is not bothered about money, wanted to start a football club, recalls CA: ‘Rishi Kapoor asked who will take care of it?'
In 2014, Ranbir Kapoor, who is an ardent football enthusiast made his dream come true when he bought Mumbai City Football Club. Over the years, his club became the first to win both the League Winners Shield and the ISL cup title in a single season. Eventually, Ranbir's club went on to win the ISL league winners shield twice. Now, after all these years, the actor's chartered accountant as well as club's co-owner Bimal Parekh recalled how exactly they happened to buy the club. It all started when Bimal Parekh read about an auction of a football team. Knowing Ranbir's love for the game, Bimal saw an opportunity and advised Ranbir to buy the club. Talking to The Hollywood Reporter, Bimal Parekh said, 'I knew Ranbir was a huge football fan — he'd go to Barcelona for a day just to watch a match. So, when I read about the auction of a football team, I sensed an opportunity. Juhi has been a client for more than 30 years, so I knew cricket was making huge money.' ALSO READ | Abhishek Bachchan dines with Jaya Bachchan, Diana Penty hours after Aishwarya Rai's bold sindoor look at Cannes; Big B continues his streak of blank post While Ranbir was excited about owning a football club, it was Rishi Kapoor who had the final say. 'Ranbir was excited about the idea, so we went to Rishiji, as he was the decision-maker. He was fine with it but wanted to know who'd run the team. I suggested we hire professional, but Rishiji was of the opinion that someone from the family should be there to look after.' He added, 'It was then that I said I could do it, and he was happy. But he had one question: What will be your fee? I said I'd rather a stake instead! However, it took some time for the game to take off.' When the actor bought the club, he told PTI, 'It is a moment of great pride for me to be a part of the Indian Super League and to represent the vibrant city of Mumbai. Football has never been far away from my daily life since childhood, and now as a partner in the Indian Super League, I am looking forward to translate my passion into contributing to the growth of the sport.' In November 2019, City Football Group (CFG) acquired a 65% stake in Mumbai City FC. CFG also owns Manchester City, and New York City FC among the many other clubs around the world. Ranbir Kapoor retained 18% stake while Bimal was left with other 17%.
Business Wire
30-04-2025
- Science
- Business Wire
Clean Food Group to Exhibit at 'Future of Food' Exhibition at the Science Museum
LONDON--(BUSINESS WIRE)--Clean Food Group ('CFG'), a leading UK food tech business, manufacturing sustainable oils and fats through fermentation, announces that it will be taking part in the Science Museum's upcoming Future of Food exhibition in London, UK. Future of Food is a significant exhibition at the Science Museum that will demonstrate how science is creating new and sustainable ways of producing and consuming food. Bringing together more than 100 historic and contemporary objects from over 3,500 years, the exhibition invites visitors to learn how human stories, technology and climate have shaped our food consumption patterns of the past and how a collaboration of science, technology and innovation will shape our future industrial food systems. Food production currently accounts for 25% of all global greenhouse gas emissions and Clean Food Group will demonstrate how its fermentation technology can be impactful in reducing these levels both now and for future generations to come. CFG will provide a live Bioreactor for the exhibition, showcasing how Metschnikowia pulcherrima, a yeast found on vine leaves and grapes around the world, can be fermented to make a palm oil equivalent. Opening from 24 July 2025 until 4 January 2026, the exhibition will also feature the first ever prototype foods, from chocolate to peanut butter and cakes, to contain Clean Food Group's yeast-made 'palm' oil. Professor Chris Chuck, Technical Lead and Co-Founder of Clean Food Group, said: 'It is an honour to be included in such a prestigious exhibition, and featured alongside some of the most exciting discoveries and innovations in food development over thousands of years. It is a unique opportunity to see the very latest food science in its historical context, a 3,500 year old piece of bread alongside the pioneering technology creating new foods for future generations. "At Clean Food Group our mission is to provide cleaner, cheaper and more sustainable oil and fat alternatives through our proprietary technology platform, to help address the three main challenges facing the global food system – health, environment and food security. As part of this exhibition, we hope to inspire the minds of the scientists of tomorrow. I would like to thank the Science Museum for including CFG in this important initiative.' Notes to Editors: About Clean Food Group CFG is a leading UK food tech manufacturer of sustainable oils and fats for the global food, cosmetic and pet food industries. Through its proprietary CLEAN OilCell™ technology platform, CFG delivers functional oils (CLEAN Oil™) and fats (CLEAN Fat™) at price parity to agriculture alternatives, whilst meeting the growing need for local and sustainable production. Founded in 2022 after eight years of pioneering research, CFG manufactures its oils and fats from food waste, leveraging scalable yeast strains and fermentation technology to deliver sustainable alternatives to traditional oil and fat ingredients. With the manufacturing process now validated at scale, CFG has strategic and industrial collaborations in place with leading global FMCG and ingredients manufacturers and has a strong demand pipeline for its products. CFG has a vastly experienced management team with a successful track record in scaling businesses in high growth regulated industries. For more information on CFG, please visit About the Science Museum The Science Museum is part of the Science Museum Group, the world's leading group of science museums that share a world-class collection providing an enduring record of scientific, technological and medical achievements from across the globe. Over the last century the Science Museum has grown in scale and scope, inspiring visitors with exhibitions covering topics as diverse as robots, codebreaking, cosmonauts and superbugs. The Science Museum was named a winner of the prestigious Art Fund Museum of the Year prize for 2020. Follow on X, Facebook and Instagram.
Associated Press
30-04-2025
- Science
- Associated Press
Clean Food Group to Exhibit at 'Future of Food' Exhibition at the Science Museum
LONDON--(BUSINESS WIRE)--Apr 30, 2025-- Clean Food Group ('CFG'), a leading UK food tech business, manufacturing sustainable oils and fats through fermentation, announces that it will be taking part in the Science Museum's upcoming Future of Food exhibition in London, UK. Future of Food is a significant exhibition at the Science Museum that will demonstrate how science is creating new and sustainable ways of producing and consuming food. Bringing together more than 100 historic and contemporary objects from over 3,500 years, the exhibition invites visitors to learn how human stories, technology and climate have shaped our food consumption patterns of the past and how a collaboration of science, technology and innovation will shape our future industrial food systems. Food production currently accounts for 25% of all global greenhouse gas emissions and Clean Food Group will demonstrate how its fermentation technology can be impactful in reducing these levels both now and for future generations to come. CFG will provide a live Bioreactor for the exhibition, showcasing how Metschnikowia pulcherrima, a yeast found on vine leaves and grapes around the world, can be fermented to make a palm oil equivalent. Opening from 24 July 2025 until 4 January 2026, the exhibition will also feature the first ever prototype foods, from chocolate to peanut butter and cakes, to contain Clean Food Group's yeast-made 'palm' oil. Professor Chris Chuck, Technical Lead and Co-Founder of Clean Food Group, said: 'It is an honour to be included in such a prestigious exhibition, and featured alongside some of the most exciting discoveries and innovations in food development over thousands of years. It is a unique opportunity to see the very latest food science in its historical context, a 3,500 year old piece of bread alongside the pioneering technology creating new foods for future generations. 'At Clean Food Group our mission is to provide cleaner, cheaper and more sustainable oil and fat alternatives through our proprietary technology platform, to help address the three main challenges facing the global food system – health, environment and food security. As part of this exhibition, we hope to inspire the minds of the scientists of tomorrow. I would like to thank the Science Museum for including CFG in this important initiative.' Notes to Editors: About Clean Food Group CFG is a leading UK food tech manufacturer of sustainable oils and fats for the global food, cosmetic and pet food industries. Through its proprietary CLEAN OilCell™ technology platform, CFG delivers functional oils (CLEAN Oil™) and fats (CLEAN Fat™) at price parity to agriculture alternatives, whilst meeting the growing need for local and sustainable production. Founded in 2022 after eight years of pioneering research, CFG manufactures its oils and fats from food waste, leveraging scalable yeast strains and fermentation technology to deliver sustainable alternatives to traditional oil and fat ingredients. With the manufacturing process now validated at scale, CFG has strategic and industrial collaborations in place with leading global FMCG and ingredients manufacturers and has a strong demand pipeline for its products. CFG has a vastly experienced management team with a successful track record in scaling businesses in high growth regulated industries. For more information on CFG, please visit About the Science Museum The Science Museum is part of the Science Museum Group, the world's leading group of science museums that share a world-class collection providing an enduring record of scientific, technological and medical achievements from across the globe. Over the last century the Science Museum has grown in scale and scope, inspiring visitors with exhibitions covering topics as diverse as robots, codebreaking, cosmonauts and superbugs. The Science Museum was named a winner of the prestigious Art Fund Museum of the Year prize for 2020. Follow on X, Facebook and Instagram. View source version on CONTACT: Clean Food Group Hannah Du Beke, Chief Marketing Officer Burson Buchanan Henry Harrison-Topham / Jamie Hooper / Abby GilchristVia Burson Buchanan Tel: +44 (0) 20 7466 5000 [email protected] KEYWORD: EUROPE IRELAND UNITED KINGDOM INDUSTRY KEYWORD: TECHNOLOGY FOOD TECH SCIENCE OTHER SCIENCE SOURCE: Clean Food Group Copyright Business Wire 2025. PUB: 04/30/2025 04:00 AM/DISC: 04/30/2025 03:59 AM
Daily Mail
22-04-2025
- Business
- Daily Mail
Prediction markets, shock alliances, and the 'backdoor' to legal sports wagering: Gambling's national turf war
It's been seven years since the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), thereby giving 49 states the right to follow Nevada in legalizing sports gambling. But for as pervasive as the industry has become across all media, sportsbooks are still banned in 21 states, including California and Texas, where a fifth of all Americans reside. Enter event-based prediction markets — a new front in gambling's nationwide turf war that's giving all Americans, 18 and up, the chance to wager on sports over the objections of state regulators. The emerging industry's trading platforms work like online sportsbooks by offering futures contracts at prices and returns that fluctuate like betting odds (i.e. underdogs pay off better than favorites). Customers are given binary choices ('yes or no' or 'one or the other') on any number of positions, from gas prices to the next Pope and, of course, sports: Will the Celtics win this year's NBA title? etc. Platforms like Kalshi and Polymarket made news during the 2024 US Presidential race by using customers' wagers to accurately forecast Donald Trump 's electoral victory over Kamala Harris. Since then, the industry has faced cease-and-desist orders in six states as platforms have taken hundreds of millions of dollars in bets on everything from March Madness to the Masters. Crucially, these websites consider themselves to be 'exchanges' rather than 'sportsbooks.' As a result, they face fewer taxes and are more widely available because they're not being prohibited, or even regulated, by individual states. Rather, prediction markets are under the federal jurisdiction of the Commodity Futures Trading Commission (CFTC) — something Nevada state senator Dina Titus sees as a 'backdoor way' to legalizing sports gambling without necessary safeguards. But if you're expecting critics of online sportsbooks to protest these providers, think again. Instead, the prediction markets have found an ally in reformers like the powerful Campaign for Fairer Gambling, not to mention Donald Trump Jr. and his father's pick to lead the CFTC, Brian Quintenz, both of whom have ties to Kalshi. 'I'm not saying there should be predictor markets,' Derek Webb, a former professional poker player and founder of the Campaign for Fairer Gambling (CFG), told 'I'm saying it's already there. It's existing. Am I going to oppose it? I'm not going to spend my time opposing it… I'm going to say if it happens and if it's finally legal, let me see if there's any way I can influence it to be better than it would be if I wasn't there to influence it.' The inventor of Three Card Poker, who has made millions licensing that product to brick-and-mortar casinos, Webb's impact as a gambling reformer has been felt on both sides of the Atlantic. Prior to the CFG's recent efforts in the US, the campaign successfully pushed to reduce the top bets on UK slot machines from ₤100 to ₤2. Along with another member of the CFG, recovering gambling addict-turned-campaigner Matt Zarb-Cousin, Webb helped launch the self-exclusion software, Gamban, which players can use to protect themselves from the dangers of online betting. Gamban has since partnered with online sportsbooks like FanDuel, which now offers its own responsible gaming dashboard, referred to as 'MySpend.' Another top online sportsbook, DraftKings, has its own version, 'Stat Sheet,' but both online tools work to reduce harm by tracking players' activity, trends, deposits and withdrawals, as well as net profits and losses. Believing more needed to be done, the CFG 'proudly' endorsed the GRIT Act, which seeks to treat problem gambling as a national health concern with the use of tax proceeds from the industry. That bill was first sponsored in the senate by Connecticut Democrat Richard Blumenthal and aims to funnel between $50 million and $100 million to states for fight gambling addiction. Months later, Webb slighted sportsbooks by telling the Washington Post: 'You put the most addictive behavior [gambling] on the most addictive device [mobile phones]. What could go wrong?' That quote has since been included in the city of Baltimore's lawsuit against FanDuel's parent company, Flutter Entertainment, and DraftKings, both of which are being accused of targeting problem gamblers. DraftKings has declined to comment publicly on the lawsuit, while FanDuel has released a statement without specifically addressing the city's claims: 'We are confident the company operates in accordance with all laws, including those established and enforced by the state of Maryland's Lottery and Gaming Control Commission.' Where prediction markets are concerned, Webb sees illegal, unregulated websites as the real problem facing gamblers. And with the CFTC planning a yet-to-be-scheduled roundtable on the subject, Webb & Co. have penned an open letter publicly requesting a seat for what promises to be a consequential discussion. As Webb told he supports the prediction markets' move under the commission's oversight in order to squash the black market, uphold regulated gaming practices and protect consumers. 'It isn't that we support the totality of the gambling landscape,' Webb said. '[It] includes illegal predictor markets that is not the markets under the CFTC. So it's important to address the majority of the harm. The majority of the gambling harm in the United States is online, rather than bricks-and-mortar [casinos], and the majority of it relates to the existing illegal market using existing products, existing content, the offshore illegal market that's targeting Americans.' But that argument isn't sitting well with some industry insiders, who are struggling to reconcile Webb's permissive stance on prediction markets with the CFG's efforts to combat addiction. On one hand, he's keenly aware of the dangers of online gambling, particularly when it can be done over a mobile phone. Yet, Webb and the CFG are supporting online prediction markets that are effectively legalizing sports gambling across all 50 states. And unlike most forms of sports gambling, which require customers to be at least 21, prediction markets are open to anyone older than 17. 'I don't know how they can square their position of being pro reform yet at the same time, essentially open the door to 50-state online sports betting without any meaningful regulation or oversight,' industry consultant John Pappas told 'I was shocked by their recent letter in support of these markets.' Webb denies supporting the unregulated expansion of sports prediction markets, telling 'If I get a seat at the [CFTC roundtable], then I can have that conversation.' For his part, Webb insists he is not profiting off of his efforts: 'Nobody pays me anything. I'm doing this philanthropically.' But some industry insiders remain skeptical about Webb's efforts. 'So you've got to wonder, is there an ulterior motive in what they're doing?' Gene Johnson, the executive vice president of Victor Strategies and gambling industry insider, told 'Because it really doesn't seem that it's benefiting the gamblers.' Victor Rocha, Johnson's business partner and the conference chair of the powerful Indian Gaming Association, put a finer point on it in February. On X, Rocha took aim at Webb, the CFG and Brianne Doura-Schawohl, an industry consultant and reformer who works with both the campaign and Underdog, a daily fantasy sports website. 'Derek Webb, Brianne Doura-Schawhol, & the Campaign for Fairer Gambling are supporting the Prediction Markets?' Rocha asked. 'This is why I think the responsible gaming industry is a joke. They're all selling something and it isn't responsible gambling.' Doura-Schawhol did not specifically address queries over potential conflicts of interest, but instead offered a more general explanation about the CFG: 'The Campaign for Fairer Gambling is not anti-gambling, the Campaign seeks to advance policies that protect consumers, including a more robust federal oversight of the sector.' Kalshi and other providers such as Robinhood remain undeterred after receiving cease-and-desist orders in Nevada, New Jersey, Illinois, Maryland, Ohio, and Montana. 'Event contracts offered by Robinhood Derivatives are federally regulated by the CFTC and offered through CFTC-registered entities, assuring that retail customers can access these prediction markets in a safe and regulated manner,' a Robinhood spokesperson told in a statement. 'As a result, we do not believe these contracts run afoul of state laws.' Other providers are fighting back too. Kalshi recently sued Nevada and New Jersey, similarly insisting the platforms are 'not a sportsbook,' but 'an exchange' that is 'overseen by the Commodity Futures Trading Commission (CFTC).' The distinction is that, unlike sportsbooks, exchanges like Kalshi and Robinhood are not serving as the 'house' or a traditional sportsbook. Rather, they're connecting participants on both sides of the futures contract and profit off fees, all of which puts the markets, tentatively, under the CFTC's jurisdiction. President Donald Trump's nomination of Quintenz, a Kalshi board member and prediction-market supporter, suggests the move could become permanent for the CFTC. Originally nominated by Barack Obama in 2016, Quintenz was renominated by Trump in 2017 and led the commission until 2021. He has since been involved with Kalshi and Andreessen Horowitz's crypto fund, leading to waves of ethical questions. Politico recently reported that Quintenz would step down from Kalshi and his crypto fund if appointed to lead the CFTC. A CFTC spokesperson declined to comment to on any potential conflict of interest for Quintenz, citing the fact that he hasn't been confirmed with the commission yet. Similarly, a Kalshi spokesperson also declined to comment on the nominee, while Quintenz did not respond to messages from Despite support from reformers and the Trump administration, prediction markets still carry many of the same risks as sports wagering. So, it should come as no surprise to see social media posts like 'Lost it all… $3,000 lesson' or 'cute, I'm down $10K' on Reddit's Kalshi page. Major League Baseball also sees the risks of sports prediction markets as being similar to those posed by online sportsbooks. In a letter dated to the CFTC dated March 7, MLB's executive vice president of legal and operations, Bryan Seely, implored the commission to create 'integrity framework' around sporting events contracts. 'As the resemblance between sports event contracts and traditional sports betting markets continues to grow, so too does the need to replicate the integrity and consumer protections that exist at the state level,' he wrote. 'Currently, those protections are lacking.' As for a resolution to this conflict, many, including Pappas and Webb, believe it will play out in the courts. However, Johnson sees this as a 'done deal,' both because of the looming presence of the President's oldest son as Kalshi's strategic advisor and because sportsbooks like DraftKings and FanDuel can simply adopt the exchange model to gain access to lucrative markets such as California. 'It's a huge flash point,' Johnson said. 'If you go back to 2022 in California, you had a tremendous fight between proponents of mobile sports betting and the Indian tribes. Half a billion dollars was spent on both sides. Three different referendums were proposed, and in the end, none of them passed, and the public was left with a lower opinion of sports betting after the fight. 'This is all a political fight over whether sports betting should be legal in California,' he added. 'Well, now we don't have to have that fight, because it's happening.' The risk, Johnson explained, is denying voters autonomy while removing states' ability to regulate the gambling industry on their own terms. 'The feds have a long history of messing things up in terms of gaming regulation,' he said. 'So most people in the industry, at least those with the experience that I have, would prefer the federal government not to get involved. Basically, one size probably doesn't fit all.'
New York Times
07-04-2025
- Business
- New York Times
Laurie Shaw to take up role with Liverpool owner FSG after leaving City Football Group
Laurie Shaw will take up a role with Liverpool owner Fenway Sports Group (FSG) after leaving his role as director of football data at City Football Group (CFG). Shaw was placed on gardening leave in January and is expected to begin his role at FSG in the coming weeks. His role at FSG will see him work across multiple sports, with the American group having stakes in the Boston Red Sox of the MLB, the Pittsburgh Penguins of the NHL, Boston Common Golf of The Golf League and RFK Racing in NASCAR. Advertisement Shaw joined CFG, the multi-club model which owns teams including Manchester City, New York City FC and Melbourne City, in 2021. The former Harvard research scientist and lecturer left his role at the American university to join the group's data insights and decision technology team. He initially joined as CFG's head of AI, before being appointed director of football data in September 2023. Liverpool's data-driven approach to recruitment has been a key part of the club's success in recent years. The data department assembled by the club's former head of research Ian Graham helped then-sporting director Michael Edwards and manager Jurgen Klopp assemble the squad that won the 2019 Champions League and 2020 Premier League title. The club's internal data testing also played an important role in appointing Arne Slot as Klopp's successor in the summer. Edwards, who hired Graham and has helped spearhead Liverpool's data-driven approach, returned to FSG as the group's CEO of football in March 2024. FSG is looking to develop a multi-club model, which had been made apparent since Edwards' appointment last year. The Athletic reported in March it was exploring a deal to purchase Malaga, with a delegation visiting the Spanish second-tier club's facilities in February to evaluate a potential acquisition. They previously explored a deal for French side Bordeaux. Shaw studied physics at Imperial College London before gaining a PhD from the University of Cambridge. He held data and statistical roles in the financial sector and at Yale and Harvard, before moving into football with CFG in 2021. (Chloe Knott – Danehouse/Getty Images)
