Juventus have decided to sack manager Andrea Pirlo after just one season in charge.
Pirlo was appointed last summer, even though he had no prior coaching experience. He could only lead Juve to fourth place this season. Massimiliano Allegri is expected to return for a second spell as manager, according to Reuters.
Juventus, in a statement on their website, said: "Thanks Andrea. These are the first words that all of us need to say at the end of this special experience together.
"A few months ago Andrea Pirlo, an icon of world football, began a new adventure on the Juventus bench, his first as a coach.
"To do this, first of all, it takes courage, as well as awareness of one's own means, especially in a period marked by thousands of difficulties, with the world forced by the pandemic to reinvent its own rules day after day.
"Pirlo has just begun the first steps of what will no doubt become a brilliant career as a coach. An adventure of transformation, seeking, and often managing, to bring his ideas and his experience as a champion on the pitch from the “other side” of the fence.
"For all this, for the courage, the dedication, the passion with which he demonstrated every day, our thanks go to the Maestro, the Coach and to Andrea, that really comes from the heart. As well as our good luck for the future that will surely be a wonderful one."
Pirlo started his first season in charge of a senior side aiming to make it 10 straight Serie A titles for Juve. However, he struggled.
Juve headed into the final day of the season facing the possibility of failing to qualify for the Champions League for the first time since 2011-12. However, victory over Bologna and other favourable results avoided them the embarrassment.
Pirlo did manage to win the Coppa Italia against Atalanta earlier this month. But Juve's results in the league and a second-successive Champions League last-16 exit brought a premature end to his coaching stint.
Pirlo's reported replacement – Allegri – won five Serie A titles in a row in his first spell in Turin between 2014 and 2019. He also lifted the Coppa Italia four times and finished as Champions League runners-up twice.
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
UAE currency: the story behind the money in your pockets
The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
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Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
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