Tag: sponsorship arrangements

  • Surprise twist in Josh Giddey’s $40m deal as one of the faces of Weet-Bix

    Surprise twist in Josh Giddey’s $40m deal as one of the faces of Weet-Bix

    Josh Giddey’s standing as one of the faces of breakfast cereal Weet-Bix appears to have vanished, at least momentarily, following the allegations made against him in the United States.

    On top of his NBA contract with the Oklahoma City Thunder, the 21-year-old Giddey also has a number of sponsorship arrangements, including an ambassador deal with Weet-Bix reportedly worth $40 million.

    Watch an average of 9 NBA Regular Season games per week LIVE on ESPN, available via Kayo. Join Kayo now and start streaming instantly >

    The Victorian has been tied to the Sanitarium product for two years, but as Code Sports first reported, Giddey appears to be no longer found on the cereal’s social media accounts.

    Alongside fellow athletes such as Alex de Minaur, Ellyse Perry, Marnus Labuschagne and Tim Cahill (who are not facing any allegations or probes), Giddey can be found on Weet-Bix cereal boxes and has appeared in marketing material for the brand.

    It appears that he is no longer being featured on the company’s social media account, although a spokesperson for Sanitarium would not confirm and only said to Code Sports the company was monitoring the situation.

    A Weet-Bix promotion featuring Josh Giddey.Source: Supplied

    “We are obviously aware of news surrounding Josh Giddey and are waiting for facts to be confirmed,” the spokesperson told Code Sports.

    “We are in contact with Josh’s management team and waiting on further detail at this point.” 

    There is no suggestion police have been involved in the allegations.

    The NBA has confirmed it is investigating the matter, which revolve around an allegation Giddey has been involved in an inappropriate relationship with a minor.

    The allegations first arose via an anonymous social media post last Thursday, which has since been deleted, and Giddey said he was unable to comment on the allegations against him during a team media event on Saturday.

    “I understand the question obviously, but there’s no further comment right now,” he said.

    The Boomers star is currently in the third year of a four-year $41m rookie contract with the Thunder, but could command significantly more in his next contract given his performances to date in the NBA.

    Josh Giddey is a key member of the Thunder. (Photo by Kelsey Grant/Getty Images)Source: Getty Images

    The allegations against Giddey emerged when pictures and videos were posted to social media featuring the Australian with a young woman.

    One of the images is of a shirtless Giddey standing behind the woman.

    There are videos which feature Giddey supposedly talking to the girl’s brother, in which he says: “I’m here with your beautiful sister.

    “Good luck for your season. I hear you’re going to Sacramento soon for a game so best of luck. We’re going to come up and watch you take care of business.”

    In another video, where she appears to be standing in the background outside a nightclub, Giddey says: “What’s up my man? We’re at the front of the club, me and my girl, about to head back to mine.”

    The legal age to attend a nightclub in the United States is 21.

    One of the posts circulated on social media.Source: News Corp Australia

    Along with his NBA achievements, Giddey represented Australia at the 2023 FIBA World Cup and looms as a key figure for the Boomers at next year’s Paris Olympics.

    Boomers coach Brian Goorjian was asked about the situation on Monday and stated Giddey has his “full support”.

    The veteran coach is travelling to the United States next month to meet with Giddey and other Boomers playing in the NBA and expected to be made more aware of the situation.

    “It’s really out of my wheelhouse,” Goorjian said on the Gold Coast on Monday.

    “All I’ve done is messaged him and let him know the support is there.

    “I am going to go over in early December and see him face-to-face.

    “I just want to let him know right now he’s got our full support.”

    Oklahoma City has not stood Giddey down after the emergence of the images and video, with the guard playing in last Sunday’s home loss to the Sixers.

    The Thunder’s next match is on the road against Minnesota on Wednesday Australian time.

    Source link

  • The billion-dollar battle for football supremacy is on as 17-year reign set to end: Man Utd State of Play

    The billion-dollar battle for football supremacy is on as 17-year reign set to end: Man Utd State of Play

    The clock is ticking on Friday evening’s (UK time) soft deadline for interested parties to submit official bids for Manchester United, as the tumultuous reign of the Glazer family nears its end.

    There have been several reports as to who is in the race for the English powerhouse as the prospective new owners look to return United to the top of the Premier League once more.

    Foxsports.com.au breaks down all of the key questions surrounding the United sale in what promises to be a deal of seismic proportions set to send shockwaves through the sporting world.

    Watch the world’s best footballers every week with beIN SPORTS on Kayo. LIVE coverage from Bundesliga, Ligue 1, Serie A, Carabao Cup, EFL & SPFL. New to Kayo? Start your free trial now >

    Matildas overwhelm Czechia in Gosford | 02:10

    MORE COVERAGE

    The three-way tussle set to break out as $10b battle for English giants heats up

    Man Utd star scores AGAIN in seven-minute blitz but Red Devils held by Euro giants

    Matildas’ worrying early signs before thrashing European rival

    WHY ARE THE GLAZERS SELLING?

    The Glazer family bought Manchester United for the fee of $AUD1.3 billion in 2005 and have owned it ever since.

    But in November last year, the Glazer family revealed it was “commencing a process to explore strategic alternatives for the club” which included “new investments into the club, a sale, or other transactions”.

    For a large portion of United fans, the Glazer family revealing their intentions to sell came as welcome news given the vociferous protests over the years against their ownership.

    However, it’s almost certain the Glazer’s are not selling the club to appease supporters.

    Rather, it’s about making as much money back as possible.

    Given the increased financial might of their Premier League competitors, especially that of Manchester City and newly-minted Newcastle United, more money than ever will need to be spent to compete.

    That’s not something the Glazer family seem terribly keen on doing and having saddled the Red Devils with monstrous debts during the 2005 takeover, they are craving a major profit from their initial investment.

    There’s also the element of Liverpool’s owners, Fenway Sports Group, also looking to sell or gain investment from outside parties, so the Glazer family also would not want to lose potential investors or new owners to an English rival.

    Avram (left) and Joel (right) Glazer are looking to sell Manchester United. (Photo by Michael Regan/Getty Images)Source: Getty Images

    HOW MUCH ARE THE GLAZER’S SELLING FOR?

    The $4.9b sale of Chelsea to Todd Boehly last year set a benchmark as to what the going rate would be for a big English club, but it appears the Glazer family want a substantial amount more.

    According to The Telegraph, the Glazer family is seeking a staggering $8.7 billion for the club, but that figure could become lower in the official bidding process.

    It is also worth noting the Glazer family has instructed the Raine Group to oversee the sale of the club as Chelsea appointed the same company to conduct their sale process.

    Should the Glazer family sell United for their desired price, it would eclipse the world record of a sports team sale which is held by the Denver Broncos, who were sold for $6.6 billion last year.

    Todd Boehly bought Chelsea from Roman Abramovich for a monster fee last year. (Photo by Glyn KIRK / AFP)Source: AFP

    WHO ARE THE INTERESTED PARTIES?

    As it stands, there is only one party to publicly declare their interest in purchasing Manchester United: British billionaire Sir Jim Ratcliffe.

    Ratcliffe is the CEO of INEOS chemicals group and has a reported net worth of approximately $22 billion, per Forbes.

    The 70-year-old already owns two football teams — Ligue 1 side Nice and Swiss outfit Lausanne-Sport — and was heavily linked with taking over Chelsea before Boehly eventually bought the London outfit in 2022.

    Ratcliffe was named Britain’s richest man in 2019 and is the only countryman linked with a bid to take over United.

    Although Ratcliffe is the sole figure to make a public declaration, several reports have stated parties from Qatar and Saudi Arabia are heavily interested in making a play for the Red Devils.

    Qatar already owns Paris Saint-Germain through Qatar Sports Investments which makes any purchase a little bit tricky, but more on that later.

    As for Saudi Arabia, The Telegraph reports a number of groups based in Riyadh have made “formal inquiries” into the sale.

    However, the same report claims any bid for United is unlikely to come from Saudi Arabia’s Public Investment Fund which completed a takeover of Newcastle United in 2021.

    Sir Jim Ratcliffe has publicly declared his interest in buying Manchester United. (Photo by Valery HACHE / AFP)Source: AFP

    HOW COULD QATAR OWN MAN UTD AND PSG?

    According to UEFA regulations, “no individual or legal entity may have control or influence over more than one club participating in a UEFA club competition.”

    That creates a massive hurdle should Qatar make a play for United through QSI, given they already own PSG.

    PSG have qualified for the Champions League in every season since the 2012/13 campaign, while United have qualified for a European competition every season since 2015.

    So, barring an absolutely catastrophic season from either team, UEFA’s roadblock is going to create some headaches.

    However, a unique case passed by UEFA in 2017 would give QSI hope of owning PSG and United and allow them to compete in European competitions.

    Bundesliga outfit RB Leipzig and Austrian club Red Bull Salzburg are both owned by the energy drink group and have enjoyed tremendous domestic success since being bought by the company.

    However, given the two teams play in different leagues and have different management setups, they were granted permission to play in the 2017/18 edition of the Champions League.

    A statement by UEFA revealed “no individual or legal entity had anymore a decisive influence over more than one club participating in a UEFA club competition” but insisted both teams would still have to make “several important governance and structural changes” in regards to financing, personnel and sponsorship arrangements.

    It doesn’t mean UEFA would take the same stance should QSI purchase United, but at least there is a precedent set.

    QSI chairman Nasser Al-Khelaifi could soon be president of both PSG and Manchester United. (Photo by FRANCK FIFE / AFP)Source: AFP

    COULD THE GLAZERS STAY ON?

    Whisper it quietly, but there is a chance the Glazer family don’t complete a full sale of their controlling stake.

    According to ESPN, the Glazer family are looking more in favour of bringing on a partner investor as opposed to an outright sale.

    The additional investment would reportedly be used to help upgrade Old Trafford and the Red Devils’ Carrington training ground.

    News of the Glazer family sticking around in Manchester would certainly not be welcomed by a majority of fans given their vocal protests over the years.

    WHEN COULD A SALE HAPPEN?

    Although a soft deadline to formally declare interest is almost here, no sale is likely to be concluded until the end of April, according to reports.

    Should a sale be ratified around that time, it would give the new owner a full summer transfer window to make their mark on the playing squad should a full takeover be sanctioned.

    Source link