FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Barely a quarter of the match had passed when Paris Saint-Germain scored their fourth goal on Sunday. This to wrap up the Ligue 1 title; this against the reigning champions, Monaco, who are on course to finish as France’s runners-up. It was no so much a question of snatching the main prize back as a leisurely repossession, the holders opening the front door to cordially invite the bailiffs in and offering them a cup of tea while they took back what belonged to them.
So it was that PSG claimed their fifth French championnat in six years, two weeks after they had beaten Monaco 3-1 in the League Cup final. On Wednesday, they have a French Cup semi-final against Caen, and if they win that, they will meet lower-division opposition in the final: a domestic treble is very much on the cards, and the main part of it has a been a waltz. The eventual scoreline on Sunday at the Parc des Princes was 7-1, the rout of Monaco achieved without their star player, the injured Neymar.
At 17 points clear at the top with five games to go, it looks, once again, all too easy for PSG to lord it over the rest of French football, and there is a growing irony about the club – approaching the seventh anniversary of their takeover by ambitious, wealthy investors from Qatar – racking up these one-sided thrashings. With every one of the seven goals that were put past Monaco on Sunday, you could almost imagine talented players watching from abroad thinking: "Hmm, there's another reason not to join PSG."
It is a little contradictory, but the relationship between PSG's dominance of their own domestic environment and the seasonal failure to go beyond the last eight of the Uefa Champions League – the club's owners set winning that competition "within five years" as their target when they bought in to PSG in 2011 – is now explicit. PSG left-back Yuri Berchiche spelled it out at the weekend. "The weekend opponents of PSG aren't strong enough," the Spaniard told Le Journal du Dimanche. "It is useful to have hard tests at weekends. You look at Spain, and there's a closer match between Barcelona, Real Madrid and Atletico Madrid that means they are better prepared when it comes to the big games in Europe."
The evidence is compelling. Barcelona and Real Madrid have eliminated PSG from the Champions League at the last-16 stage the past two seasons. And the only Ligue 1 semi-finalists in that competition since 2011 have been not PSG but Monaco, last year – after which PSG promptly signed on loan the player, Kylian Mbappe, who had galvanised Monaco during their surge through the knockout stages.
So Mbappe on Sunday collected his second Ligue 1 title in 12 months. He turns 20 in December and in June will formalise his move that could rise to €180 million (Dh819m), having spent the current season at PSG on loan, a delaying device designed to set the mammoth fee into a distinct financial year from the €222 million (Dh1 billion) PSG paid Barcelona for Neymar last July.
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More on PSG:
Analysis: Uefa's FFP inquiry threatens to 'undermine' PSG's ambitions on and off the pitch
aUefa face 'difficult challenge' over handling of PSG's alleged financial violations, say analysts
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These two hefty outgoings keep the PSG bills rising ever higher and the budgetary distance between PSG and the likes of Monaco, Marseille and Lyon ever wider. Talents, such as Mbappe, from all those clubs may look at PSG, and its salaries, with envy, but they too acknowledge that what Berchiche says has some truth: what you learn as a PSG player is limited by the shortcomings of those who share the domestic classroom.
But every champion should be hailed. Sunday’s festival of goals took PSG beyond 100 for the league campaign. Edinson Cavani hit his 25th Ligue 1 goal. Afterwards, manager Unai Emery accepted the congratulations while preparing for his inevitable departure. Emery was recruited to upgrade the club as a European force, his success with Sevilla in the Europa League a recommendation, but he has failed to replicate it in Europe's premier competition. He looks likely to be replaced by Thomas Tuchel, young, German and formerly of Borussia Dortmund.
The new man will be the fifth in charge since the 2011 takeover. He will inherit domestic champions, perhaps treble-winners, and some issues. PSG's adherence to Uefa's Financial Fair Play guidelines, which attempt to balance income with spending, is under scrutiny. Neymar is said to be frustrated at the confines of Ligue 1, and, for all the expenditure – more than €1.5bn under the current ownership – on playing and training resources, there are gaps in the make-up of the squad, particularly in central midfield.
“I have seen the club grow stronger and stronger,” said Javier Pastore, who at the beginning of the bold refit of PSG, seven years ago, became French football’s record signing, at just shy of €40m. Hyperinflation at the club has left him as little more than a footnote, but he was still saying the right things at the celebrations of his fifth Ligue 1 title: “One day, this club will win the Champions League.”
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
RACE CARD
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
10pm Handicap (TB) Dh102,500 (T) 1,400m
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
MATCH INFO
Uefa Champions League semi-finals, second leg:
Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE
Game is on BeIN Sports
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EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
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More from Neighbourhood Watch
Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel
MATCH INFO
Day 1 at Mount Maunganui
England 241-4
Denly 74, Stokes 67 not out, De Grandhomme 2-28
New Zealand
Yet to bat
In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile
UAE currency: the story behind the money in your pockets
The%20Roundup
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Final scores
18 under: Tyrrell Hatton (ENG)
- 14: Jason Scrivener (AUS)
-13: Rory McIlroy (NIR)
-12: Rafa Cabrera Bello (ESP)
-11: David Lipsky (USA), Marc Warren (SCO)
-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)
Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
Who is Allegra Stratton?
- Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
- Took up a public relations role for Chancellor Rishi Sunak in April 2020
- In October 2020 she was hired to lead No 10’s planned daily televised press briefings
- The idea was later scrapped and she was appointed spokeswoman for Cop26
- Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
- She has strong connections to the Conservative establishment
- Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
Results
5.30pm: Maiden Dh165,000 (Turf) 1,600m; Winner: Al Battar, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer).
6.05pm: Maiden Dh165,000 (Dirt) 1,200m; Winner: Good Fighter, Richard Mullen, Satish Seemar.
6.40pm: Handicap Dh185,000 (T) 1,200m; Winner: Way Of Wisdom, Tadhg O’Shea, Satish Seemar.
7.15pm: Handicap Dh170,000 (D) 2,200m; Winner: Immortalised, Tadhg O’Shea, Satish Seemar.
7.50pm: Handicap Dh185,000 (T) 2,000m; Winner: Franz Kafka, James Doyle, Simon Crisford.
8.25pm: Handicap Dh185,000 (D) 1,200m; Winner: Mayadeen, Connor Beasley, Doug Watson.
9pm: Handicap Dh185,000 (T) 1,600m; Winner: Chiefdom, Mickael Barzalona, Salem bin Ghadayer
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
ZAYED SUSTAINABILITY PRIZE
Scoreline
Arsenal 3
Aubameyang (28'), Welbeck (38', 81')
Red cards: El Neny (90' 3)
Southampton 2
Long (17'), Austin (73')
Red cards: Stephens (90' 2)
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.