Latest news with #GerryCardinale
New York Times
a day ago
- Business
- New York Times
Massimiliano Allegri returns to Milan to replace Sergio Conceicao as head coach
Massimiliano Allegri has returned to Milan to replace Sergio Conceicao as head coach. Former Porto head coach Conceicao was sacked after just five months in charge on Thursday following a disappointing eighth place finish in Serie A that saw the club miss out on European qualification for 2025-26. Allegri has been out of work since being sacked by Juventus in May 2024. Advertisement In response to the club's disappointing season, Milan fans staged a remarkable protest against the club's American ownership ahead of their final Serie A match of the season against Monza earlier this month. Around 5,000 ultras gathered outside the club's Casa Milan headquarters before marching to San Siro. They lined up in the stands to spell out 'Go Home' in the Curva Sud, with chants demanding RedBird Capital's Gerry Cardinale sell his stake in the club and leave. Allegri's arrival follows the appointment of former Serie A striker Igli Tare as the club's new sporting director, a role the Albanian previously held at Lazio. Allegri has spent his entire managerial career, which spans over two decades, in his native Italy. His first senior job was with Aglianese and then moved to Sassuolo, before getting his first opportunity at coaching a Serie A team with Cagliari in 2008. The 57-year-old then spent previously three-and-a-half seasons with Milan between 2010 and January 2014. Allegri won the Serie A title in his first season at San Siro in 2010-11, the club's first Scudetto in seven years, and the Supercoppa Italiana the following season, but finished 2012-13 trophyless, and he left the club in January the following season. He was then appointed Juventus head coach in the summer of 2014, replacing Antonio Conte, and winning the Italian top-flight in each of his five seasons in charge between 2014-15 and 2018-19, while also reaching the Champions League final in 2015 and 2017. Juventus also won four Coppa Italia crowns and two Supercoppa Italiana trophies during this spell. Allegri's second spell in Turin did not bring the same level of success, with his three seasons in charge yielding just the Coppa Italia in his final campaign. Conceicao had a bright start to life in Milan, guiding his side to a 3-2 victory over rivals Inter in the Supercoppa in January however, the following month, they were eliminated from the Champions League at the play-off stage by Feyenoord. Milan parted ways with Scudetto-winning head coach Stefano Piolo in the summer of 2024 and then sacked his successor Paulo Fonseca in December of that year, with Conceicao his replacement.
Yahoo
5 days ago
- Business
- Yahoo
US investment firm Redbird plans to buy Britain's Telegraph newspaper
A consortium led by US investment firm RedBird Capital Partners has agreed to buy the publisher of Britain's 170-year-old Daily Telegraph newspaper for about £500 million (€595.5m), the two sides said on Friday. RedBird said it has reached an agreement in principle to become the controlling owner of the Telegraph Media Group, ending a lengthy takeover saga for the conservative-leaning newspaper. Gerry Cardinale, founder and managing partner of RedBird, said the sale 'marks the start of a new era for The Telegraph, as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base.' The Telegraph group, previously owned by Britain's Barclay family, was put up for sale two years ago to help pay off the family's debts. It publishes the daily and Sunday Telegraph newspapers and weekly newsmagazine The Spectator, which are all closely allied to Britain's Conservative Party. In 2023, there was an offer to buy the publications from RedBird IMI, a consortium backed by RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the vice president of the United Arab Emirates. However, the consortium pulled out last year following strong opposition from the UK government, which launched legislation to block foreign state ownership of the British press. Under the deal, Abu Dhabi's IMI will take a minority stake of not more than 15% in the Telegraph as a member of the consortium. The sale must be approved by British regulators. RedBird has investments in soccer team AC Milan, the parent company of Liverpool football club and film production company Skydance. Telegraph Media Group chief executive Anna Jones said that 'RedBird Capital Partners have exciting growth plans that build on our success — and will unlock our full potential across the breadth of our business.' The Spectator was sold separately in September to British hedge fund investor Paul Marshall.
Euronews
5 days ago
- Business
- Euronews
US investment firm Redbird plans to buy Britain's Telegraph newspaper
A consortium led by US investment firm RedBird Capital Partners has agreed to buy the publisher of Britain's 170-year-old Daily Telegraph newspaper for about £500 million (€595.5m), the two sides said on Friday. RedBird said it has reached an agreement in principle to become the controlling owner of the Telegraph Media Group, ending a lengthy takeover saga for the conservative-leaning newspaper. Gerry Cardinale, founder and managing partner of RedBird, said the sale 'marks the start of a new era for The Telegraph, as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base.' The Telegraph group, previously owned by Britain's Barclay family, was put up for sale two years ago to help pay off the family's debts. It publishes the daily and Sunday Telegraph newspapers and weekly newsmagazine The Spectator, which are all closely allied to Britain's Conservative Party. In 2023, there was an offer to buy the publications from RedBird IMI, a consortium backed by RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the vice president of the United Arab Emirates. However, the consortium pulled out last year following strong opposition from the UK government, which launched legislation to block foreign state ownership of the British press. Under the deal, Abu Dhabi's IMI will take a minority stake of not more than 15% in the Telegraph as a member of the consortium. The sale must be approved by British regulators. RedBird has investments in soccer team AC Milan, the parent company of Liverpool football club and film production company Skydance. Telegraph Media Group chief executive Anna Jones said that 'RedBird Capital Partners have exciting growth plans that build on our success — and will unlock our full potential across the breadth of our business.' The Spectator was sold separately in September to British hedge fund investor Paul Marshall. When talking about your salary in Europe, do you refer to the gross amount or the net figure? It's an important distinction as take-home pay can vary significantly from one country to another. The main reasons for these differences are variations in taxation and social security contributions. In some countries, family allowances also have a considerable impact. So, where do workers take home the most pay across Europe? And how much of your gross salary do you keep after taxes and deductions? The answer largely depends on whether you have dependent children and if your partner earns an income. In several countries, this can make you eligible for family allowances or even tax refunds. With this in mind, Euronews has examined three typical scenarios for 2024. These scenarios are based on individuals earning 100% of the average national wage. For those earning more or less than the average, the take-home ratio will differ accordingly. Net earnings represent the amount a person or household keeps after subtracting taxes and employee social security contributions from gross pay, and adding any family benefits for dependent children. In 2024, according to Eurostat, a single person without children in the EU takes home, on average, 68.6% of their gross salary. This means that if the average salary in your country is €1,000, you keep €686, while €314 goes to taxes and social security contributions. Among 31 countries—including all EU member states plus Switzerland, Norway, Iceland, and Turkey—the take-home pay ratio (annual net earnings as a percentage of gross earnings) ranged from just 60.3% in Belgium to 84.4% in Cyprus. Seven countries offered less than two-thirds of gross pay as take-home income. Besides Belgium, they included: Lithuania (61.8%), Germany (62.6%), Romania (63.1%), Denmark (64.3%), Slovenia (64.4%) and Hungary (66.5%). In ten countries, workers can take home at least three-quarters (75%) of their gross earnings, making them the best places in Europe for higher net pay. The ratio exceeds 80% in Cyprus and Switzerland. Other countries on the list include Estonia (79.5%), Czechia (79%), Bulgaria (77.6%), Spain (77.5%), Sweden (76.9%), Slovakia and Poland (both 75.9%), and Portugal (75%). By comparison, the take-home rate is 71.9% in France and 69.6% in Italy. For one-earner couples with two children, take-home pay ratios shift significantly in some countries, while in others they stay close to the level for single individuals without children. Across the EU, the average take-home rate is 82.6%, ranging from 70.4% in Romania to 107.1% in Slovakia, followed by 102.5% in Poland. In these two countries, net earnings actually exceed gross earnings. This is not only due to family allowances but also the implementation of a 'negative income tax,' which provides extra financial support and reflects strong family-friendly policies. The ratio is also above 90% in Switzerland, Czechia, Luxembourg, and Portugal. At the lower end, aside from Romania, it falls below 75% in Turkey, Denmark, and Finland. The largest increases compared to single individuals without children were seen in Slovakia (+31.2 percentage points), Poland (+26.6 pp), Luxembourg (+22.4 pp), and Belgium (+19.8 pp). The rate remained unchanged in Turkey, while the smallest increases were recorded in Greece (+2.4 pp), Cyprus (+4.3 pp), Finland (+4.6 pp), Norway (+4.8 pp), and Sweden (+5.9 pp). On average, a two-earner couple with two children in the EU takes home 73.6% of their gross earnings, with the rate ranging from 65.8% in Belgium to 88.9% in Slovakia. Compared to single individuals without children, the take-home rate remains unchanged in Turkey and Greece. The highest increase was recorded in Slovakia, at 13 percentage points. In only eight countries, the rise exceeded 5 percentage points, suggesting that family allowances for households with children often do not lead to a significant boost in take-home pay. Would you be more interested in actual salary figures rather than just ratios? In 2024, in the EU, a single person without children earning 100% of the average salary takes home €29,573 out of a gross €43,105. Switzerland is an outlier in both gross and net salaries, with figures exceeding €100,000 and €85,000 respectively. In this scenario, annual net earnings exceeded €50,000 in Iceland and Luxembourg, while Bulgaria (€11,074) and Turkey (€11,440) recorded the lowest net salaries. In five additional countries, net earnings surpassed the €40,000 mark, including the Netherlands, Norway, Denmark, Ireland, and Austria. Annual net earnings for a one-earner couple with two children ranged from €11,440 in Turkey to €98,835 in Switzerland, while the EU average was €35,656. In the two-earner couple with two children scenario, net earnings or salaries ranged from €22,880 in Turkey to €178,553 in Switzerland, with the EU average at €63,523. All these actual figures also indicate the level of income inequality across Europe. For a detailed comparison of annual net earnings—including purchasing power standards—across Europe, check out our full article, entitled: "Top earners in Europe" Curious about how real wages changed in 2024 compared to 2023? Our article 'Where Did Real Wages Rise and Fall the Most in Europe in 2024?' takes a closer look at the shifts—adjusted for inflation.
CNA
7 days ago
- Business
- CNA
Milan's futile win over Monza overshadowed by fan protests
AC Milan wrapped up their disappointing season with a 2-0 win over Monza on Saturday, but the game was overshadowed by fan protests against the club ownership and hierarchy both before and during the match. Milan's victory came thanks to second half goals from Matteo Gabbia and Joao Felix, moving them to seventh in the standings but not into the European qualification places, one point above Fiorentina who are at Udinese on Sunday. Thousands of Milan supporters gathered earlier on Saturday outside the club's Casa Milan headquarters, after a season of discontent culminated in a protest asking owner Gerry Cardinale to sell up and leave. RedBird Capital Partners bought the club in June 2022, with Milan having just secured their first league title in 11 years, but the only trophy won since then was this year's Italian Super Cup, far below fans' expectations. Supporters had already made their feelings clear from the start of the campaign, unhappy with the selection of Paulo Fonseca as manager, and the Portuguese coach was replaced by compatriot Sergio Conceicao in December. Milan were eight in the table at the time, and while Conceicao won the Super Cup in his first games in charge, there was little improvement in Serie A and they exited the Champions League at the league phase. Along with RedBird chief Cardinale, club Chairman Paolo Scaroni, CEO Giorgio Furlani, senior advisor Zlatan Ibrahimovic and technical director Geoffrey Moncada were all targets for supporters' anger in Saturday's protest. The fans also called for the return of their hero Paolo Maldini to the club, after the former Milan defender was sacked from his technical director role in 2023, another decision which strained the relationship between supporters and owners. After they marched to the San Siro, the Curva Sud fans positioned themselves to spell out 'Go Home' in a clear message to their American owner, and most left the sector in an organised walkout 15 minutes into the game. "Among our fans there is disappointment, regret, anger and frustration, these are all feelings that we also feel. Do not think that this is not the case," club CEO Furlani told DAZN before the game. "The season ends today and next week we start again."
Reuters
7 days ago
- Business
- Reuters
Milan's futile win over Monza overshadowed by fan protests
May 24 (Reuters) - AC Milan wrapped up their disappointing season with a 2-0 win over Monza on Saturday, but the game was overshadowed by fan protests against the club ownership and hierarchy both before and during the match. Milan's victory came thanks to second half goals from Matteo Gabbia and Joao Felix, moving them to seventh in the standings but not into the European qualification places, one point above Fiorentina who are at Udinese on Sunday. Thousands of Milan supporters gathered earlier on Saturday outside the club's Casa Milan headquarters, after a season of discontent culminated in a protest asking owner Gerry Cardinale to sell up and leave. RedBird Capital Partners bought the club in June 2022, with Milan having just secured their first league title in 11 years, but the only trophy won since then was this year's Italian Super Cup, far below fans' expectations. Supporters had already made their feelings clear from the start of the campaign, unhappy with the selection of Paulo Fonseca as manager, and the Portuguese coach was replaced by compatriot Sergio Conceicao in December. Milan were eight in the table at the time, and while Conceicao won the Super Cup in his first games in charge, there was little improvement in Serie A and they exited the Champions League at the league phase. Along with RedBird chief Cardinale, club Chairman Paolo Scaroni, CEO Giorgio Furlani, senior advisor Zlatan Ibrahimovic and technical director Geoffrey Moncada were all targets for supporters' anger in Saturday's protest. The fans also called for the return of their hero Paolo Maldini to the club, after the former Milan defender was sacked from his technical director role in 2023, another decision which strained the relationship between supporters and owners. After they marched to the San Siro, the Curva Sud fans positioned themselves to spell out 'Go Home' in a clear message to their American owner, and most left the sector in an organised walkout 15 minutes into the game. "Among our fans there is disappointment, regret, anger and frustration, these are all feelings that we also feel. Do not think that this is not the case," club CEO Furlani told DAZN before the game. "The season ends today and next week we start again." Decisions will now be made regarding Conceicao's future at the club, but fans will expect sweeping changes at Milan if they are to see a return to the glory days.
